The Russian steelmaker Magnitogorsk Iron and Steel Works (MMK) has released its production results for the first quarter of 2009.
Accordingly, in Q1 2009 MMK recorded a 39.1 percent decrease in its pig iron production to 1.592 million mt, a 42.5 percent drop in its crude steel output to 2.070 million mt, and a 41.7 percent decline in its finished steel products output to 1.917 million mt, all compared to the first quarter of 2008.
During the period in question, MMK produced 256,000 mt of longs - down 47 percent, 1.26 million mt of hot rolled products - down 21.8 percent, and 188,000 mt of cold rolled products - down 54 percent, all compared with Q1 2008. However, MMK's output of slabs and billets in Q1 this year amounted to only 200 mt, i.e. a decrease of almost 99.95 percent year on year.
In addition, in the first three months of 2009, MMK's tin plate output went down by 37 percent year on year to 39,000 mt, its formed section production slid by 64 percent to 14,000 mt, its pipe production decreased by 22.2 percent to 14,000 mt, its galvanized color coated production dropped by 9.5 percent to 38,000 mt, and its galvanized steel output went down by 25.5 percent year on year to 79,000 mt.