MOSCOW: Russia's Magnitogorsk Iron & Steel Works (MMK) said on Tuesday that its first-quarter crude steel production rose 4 percent year-on-year to 3.2 million tonnes and said output and sales should rise further in the second quarter.
The firm, controlled by billionaire Viktor Rashnikov, said shipments of finished steel products were up 2.6 percent compared with the same period of 2013 at 2.9 million tonnes.
"The seasonal recovery of demand on the domestic market in Q2 2014 is likely to support production and sales volumes of finished steel goods at a higher level compared to the previous quarter," MMK said in a statement.
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