According to report, Russian steelmaker Magnitogorsk Iron & Steel Works (MMK) said last week that its third quarter revenue and EBITDA both fall from previous quarter. Its second-quarter sales dropped by 13% to 1.88 billion and group EBITDA was down by 20% to $233 million. Meanwhile, its average sales prices also dropped by 5% from the second quarter. The sales volumes were also down from MMK Metalurji in Turkey. MMK’s output has declined by 7% in the second quarter due to its blast furnace upgrade as the result was 2.6 million tons of output.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=67485&division=A6
