Russia-based Magnitogorsk Iron and Steel Works’ (MMK) steel deliveries exceeded 650,000mt in 2019, the highest ever annual sales recorded by the company
The company’s sales of rolled metal products to the automotive industry set a record for the second year in a row. In 2019, the company laid efforts to expand sales to the auto sector which resulted in deliveries of more than 650,000mt. MMK sales to auto in 2018 was 598,000mt.
In 2019, of the 650,000mt steel products sold; 605,000mt was sold to Russian companies and 53,000mt to CIS countries. The share of sales to the auto sector in the Russian market in 2019 was 7.3pc. The company has stated that increasing sales to the auto sector was a priority and part of its initiatives to be the top supplier in Russia. MMK has spent several years to develop the production of automotive sheet that provides a high-quality alternative to imports. In Russia, MMK’s share of sales to the automotive industry in 2019 was more than 50pc, according to the company.
MMK’s plants focuses on increasing deliveries to foreign car manufacturers that create new car production capacities in Russia and the CIS countries. In 2019, MMK shipped approximately 102,000mt of steel products to auto companies, an increase of 35pc compared to the previous year.