MMK reports Q3 sales down by 13%

Publish time: 3rd December, 2013      Source: ChinaCCM
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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.