Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

MMK Sees Exit From Slump

Magnitogorsk Iron & Steel Works said Friday that 2012 finished steel output could increase 15 percent from last year and that demand will be stronger at home than abroad.

"It is expected that steel consumption in Russia will grow in 2012 faster than the world on average," the company said.

MMK, controlled by Viktor Rashnikov, said fourth-quarter output was 3.1 million tons, off 2 percent from the previous quarter. Full-year 2011 crude steel output reached 12.2 million tons, up from 11.4 million in 2010, the company also said. Evraz said last week that fourth-quarter crude steel volumes increased 3 percent quarter on quarter.


… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more