Russian steel giant Magnitogorsk Iron and Steel Works (MMK) has announced that its Turkey-based subsidiary MMK Metalurji's finished steel output increased by 7.8 percent quarter on quarter to 213,000 mt in the fourth quarter of 2015, due to high demand for construction products as a result of changes in the market structure and due to seasonal factors. In 2015, its finished steel output totaled 795,000 mt, up 15.2 percent compared to the previous year.
In the fourth quarter last year, the hot rolled flat product output of MMK Metalurji totaled 25,000 mt, rising by 22.5 percent, while its galvanized steel production amounted to 114,000 mt, up 1.3 percent, both compared to the previous quarter. In the full year, the company’s hot rolled flat product output increased by 24.3 percent to 80,000 mt, and its galvanized steel production rose 16.5 percent to 444,000 mt, both year on year.
According to MMK Metalurji, the volume of semi-finished rolled product supply from MMK to MMK Metalurji in 2015 increased by more than three times year on year due to favorable market conditions.