Magnitogorsk Iron & Steel Works (MMK) looked at the results of its activity in 2007. MMK was reported to produce 12.2 million tons of metal goods in 2007, thus exceeding the production output by 7.6% compared to 2006. This has been the company’s best-ever result so far.

In 2007, the enterprise produced 9.482 million tons of cast iron (which falls short of the previous year’s figures by 2.6% due to the blast-furnace shop reconstruction) and 13.261 million tons of steel (which exceeds the figures for 2006 by 6.5% thanks to better use of the electric furnaces’ capacity). As a result, more slabs and billets were made, while the output of bar iron and rolled products with polymeric coating went up as well thanks to the launching of some new machinery.

Metal goods prices kept growing throughout 2007, mainly because MMK started selling more goods on the domestic market that traditionally has higher prices. Last year, the company sold about 60% of its goods on the home market, while its production output rose by 857,000 tons.