‘We expect our rolled stock output to reach about 10 million tons by the end of the year. This is going to be 20% more than a year earlier. What’s more, the company intends to go back to its ante-recession annual output of 12 million tons as soon as next year. This means another 20% increase in production is to be expected,’ BOD Chairman of Magnitogorsk Iron & Steel Works (MMK) Viktor Rashnikov said in his interview to Kommersant.

The executive explained MMK would fully recover after the recession thanks to the growing domestic demand and the enterprise’s carrying on with its import-replacement strategy.