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MMK steel output 2.7mn T ‘Russia’
MOSCOW : Russia 's Magnitgorsk Iron & Steel Works expects to produce 2.7 million tonnes of finished steel in the second
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MOSCOW: Russia's Magnitgorsk Iron & Steel Works expects to produce 2.7 million tonnes of finished steel in the second quarter, the same amount as in the first quarter.
"We will try to maintain prices, but volumes will suffer," chief financial officer Oleg Fedonin said during a conference call.
The company said earlier that overall steel output would increase by 10-15 percent this year, down from an earlier forecast for 20 percent growth.
COPYRIGHT REUTERS, 2011
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