‘The honesty of Magnitogorsk Iron & Steel Works (MMK) will surely be appreciated by the company’s shareholders and investors,’ Finam Management’s leading expert Dmitriy Baranov said to an UrBC reporter.

MMK was one of the country’s first metallurgical enterprises to announce a production downfall and certain redundancies brought about by the global financial crisis.

‘In the long run, everything will depend on the state of events at each particular metallurgical enterprise. What MMK is doing now is one of the most logical and speediest ways to react to a crisis,’ he explained.