MMK Group (Magnitogorsk Iron and Steel Works) reported on the results of the sale of steel and cast iron by the end of 2024. We are talking about a decline to 10.62 million tons (-9.8%) of steel products, as reported by the press service of the company itself.
If we compare with the production results of 2023, we are talking about a decrease of 13.8% to a total of 11.2 million tons. Moreover, the volume of iron smelting decreased by 4.5% to a total of 9.5 million tons.
MMK management attributed this trend to a reduction in steel demand in 2024, as well as to internal corporate factors. For example, with repairs in the rolling department of the Plant and repair work in the blast furnace department.
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