According to report, Russian steelmaker MMK group may see its profit up by 35% to 19 million in January- March quarter in 2013 after a loss in the previous quarter. The result for profit including the selling the rail freight carrier MMK trans for $125 million gain. For the present quarter, though the steel prices decline in this quarter, MMK may keep the output unchanged from Q1 as the current input price of iron ore was down as well. The Q1 result was $2.28 billion, a 10.4% rise quarter-on-quarter but a 6% down year-on-year. The group's Turkey-based mill MMK Metalurji also turned to profit of $2 million EBITDA, from $18 million losses in Q4 and Q1 last year.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=64848&division=A6
