Russian metallurgical steel company Magnitogorsk Iron & Steel Works (MMK) has started trial production of hot-rolled coils in Turkey. The Russian company officially announced this on Monday, July 12. In the following, we will review the performance of this company and its range of activities. Undoubtedly, the production data of this company plays an important role in the pricing of the cis steel sector. Perhaps one of the reasons that Metal Bulletin considers this issue as its news subject is the impact of this company on the prices in this field. In the following, we will examine this issue. Please be with Artan Press.
*** Introduction of Russian MMK Steel Company
MMK Steel Company is one of the largest steel producers in the world and a leading company in the production of Russian metals. The company’s activities in Russia include a large steel production complex that covers the entire production chain, from the production of iron ore to downstream processing of rolled steel. The company offers a wide range of steel products with a major share of high value-added products.
*** Take a look at the performance of MMK Steel Company in the past years
In 2020, the group produced 11 million tons of crude steel and 10.8 million tons of commercial steel products. The MMK Group recorded sales of $ 6,395 million in 2020. MMK Group is a group of companies that are united by a single management and control system and their activities are coordinated to achieve common strategic goals in long-term competition and sustainable growth. The strategic goals of this group are long-term competition and sustainable growth. In formulating and implementing this strategy, the group companies follow the following principles:
*** MMK Steel Company ‘s commercial view in the steel production sector
Many analysts are eyeing the company’s corporate policies. As part of the company’s mission and vision statement, it is ready to make focused and efficient use of the group’s resources; Uniform approach in investment, marketing, production, technology, social and accounting policies; Prioritize to fulfill the orders of the group companies; An integrated approach to the development and implementation of intra-group programs; Common culture of company and social responsibility; Optimization of activities throughout the group; Continuous improvement and innovation; Security and production risk management. These are the issues that will be considered by analysts in the near future
*** Take a look at MMK’s strategic plans
The team’s marketing strategies are also significant. Strategic growth planning in the group; Development of uniform organizational standards and regulating group activities; Improving the quality and acceptance of new technologies; Ensuring operational efficiency; Establishment of a common information network, development and integration of information technology systems; Registration of orders in the group with the optimal market price and under uniform quality standards; Expand market presence; Maintaining and developing the common values of companies; Legal support of group companies.
*** Additional information about MMK company
The company is located in Alexandria, and in late 2012 ceased operations at a small smelter and rolling mill. “The current situation allows us to resume operations at the Arc Furnace facility, which is a very important component of investment in Turkey,” MMK Chairman Viktor Rashnikov said in a report. The company announced plans to resume production in April and launched the HRC offer in the first week of July.
*** Clear prospects for MMK Steel Company
“We have invested about $ 40 million in the site to re-launch the production center. After re-launching the hot section and reaching its full capacity, we plan to open about two times a year,” said MMK CEO. To produce one million tons of hot-rolled coil, which will allow the assets of Turkey and our company to increase significantly at the same time due to the agreement reached [taking into account interest before interest, taxes, depreciation]. “The demand for flat steel has decreased in the Turkish steel market due to the upcoming official holiday, which starts on July 15, but there is nothing to worry about, and this issue in the company’s financial calculations,” said the CEO of MMK. Is taken into account.
*** Fast Market Evaluation of MMK Competitive Market
The weekly Fast Market rating for domestic hot-rolled steel coils in Turkey was $ 1060-1100 per ton on July 9, falling from $ 1060-1120 per ton on July 2. Turkish imports from Russia may fall from August 1 to December 31, at least at a base rate of 15% ($ 115 per tonne) due to temporary export duties on Russian exports to the HRC. Despite this situation, several export transactions have taken place from Russia to Turkey. The Metal Bulletin’s weekly rating for hot-rolled coils, exports, Black Sea fobs, CIS on July 12 was $ 920-940 per ton, down from $ 945-955 on July 5.
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