MOSCOW: Russian steel major MMK reported on Tuesday a fourth-quarter net loss of $2.2 billion due to impairment charges and forecast higher steel sales in the first quarter of 2014.

A Reuters poll of analysts had expected a net loss of $40 million excluding one-offs.

MMK, controlled by billionaire Viktor Rashnikov, also reported earnings before interest, taxation, depreciation and amortisation (EBITDA) of $312 million for the last quarter of 2013 versus a Reuters forecast of $263 million.