Magnitogorsk Iron and Steel Works (MMK) announced production data for the second quarter of 2025. The company's steel production decreased by 18.2% y/y to 5.2 million tons. Pig iron production also decreased by 8.8% y/y.
On the other hand, MMK increased its steel production by 1.8% q/q to 2.62 million tons in the second quarter of 2025. The company attributed the increase to a revival in seasonal business activity.
Metal products sales also increased by 2.7% to 2.49 million tons, driven by higher sales of hot rolled products. However, sales of premium products decreased by 2% q/q to 992 thousand tons due to weak demand in the pipe sector. Premium products accounted for 39.8% of total sales.
MMK Expects Demand Pressure in Q3
In its outlook for the third quarter, the company noted that higher interest rates will put pressure on business activity and may limit demand for metal products.
MMK's key operating indicators, thousand tons:
| Indicators | Q2 2025 | Q1 2025 | Dynamics | First half of 2025 | Dynamics until the first half of 2024 |
| PRODUCTION | |||||
| Steel | 2 620 | 2 573 | %1,8 | 5 193 | - %18,2 |
| - steel segment Russia | 2 620 | 2 573 | %8,6 | 5 193 | - %14,5 |
| - steel segment Türkiye | 0 | 0 | - | 0 | - |
| Cast iron | 2 375 | 2 182 | %8,8 | 4 558 | - %8,8 |
| Coal concentrate | 762 | 800 | - %4,7 | 1.562 | %16,1 |
| Iron ore raw materials | 448 | 340 | - %31,7 | 788 | - %19,4 |
| SALES | |||||
| Commodity products, | 2 493 | 2 428 | %2,7 | 4 921 | - %14,9 |
| Rolled products | 278 | 266 | %4,5 | 545 | - %11,2 |
| Hot rolled sheet | 1 222 | 1 149 | %6,4 | 2 371 | - %12,8 |
| Premium products | 992 | 1 013 | - %2,0 | 2 005 | - %18,1 |
| Share of premium products | %39,8 | %41,7 | -1,9 s.p. | %40,7 | - 1,6 s.p |
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