MMK ships record volume of galvanized steel
OJSC Magnitogorsk Iron and Steel Works ("MMK", or "the Company") (LSE: MMK) shipped 1,135,500 tonnes of galvanized steel to its consumers in 2016, the most in the Company’s history.
The previous record of 1,115,700 tonnes was achieved in 2014. During the past 15 years, MMK has sustainably grown its galvanized steel output. In 2002 and 2008, the Company commissioned two high-performance continuous hot-dip galvanizing lines at its metal-coating shop. In 2012, MMK commissioned the second stage of a cold-rolling unit at sheet-rolling shop 11, comprising a continuous hot-dip galvanizing line, as well as a combined continuous annealing and hot-dip galvanizing aggregate.
Currently, another continuous hot-dip galvanizing line with annual capacity of 360,000 tonnes is under construction at sheet-rolling shop 11, with launch scheduled for July 2017.
Development of coated metal production is in line with MMK’s goal to increase output of high value-added advanced processed products.