Decline in steel production is associated with a decrease in demand for steel products against the unfavorable market situation. Pig iron output fell by 17.3% to 4.3 million tons, due to the overhaul of blast furnaces and negative market conditions.
Sales of finished products decreased by 15.7% to 5.2 million tons due to equipment overhaul and export restrictions. The production of coal concentrate increased by 4.5%, to 1.7 million tons, compared to the previous year due to an increase in PJSC MMK's demand for grades of coking coal from third-party suppliers.
The volume of steel production in the second quarter of 2022 decreased by 7.9% to 2.8 million tons, the company attributed the quarterly decline to unfavorable market trends. The volume of production of coal concentrate increased by 9.5% and amounted to 923 thousand tons due to the increased processing of its own raw materials.
According to the results of the second quarter, average selling prices increased by 15.7% to $1,023 per ton, which was caused by the strengthening of the ruble against the dollar. Ruble prices for metal products at the same time decreased by 10.1% due to a significant decline in demand in the Russian market.
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