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Magnitogorsk FY'16 crude steel output up 2.5% YOY

OJSC Magnitogorsk Iron & Steel Works' crude steel output in 2016 rose 2.5% year over year to 12.5 million tonnes.

Finished steel products shipments improved 3.4% to 11.6 million tonnes in the year, according to a Jan. 26 release.

Overall steelmaking capacity utilization at the main Magnitogorsk site stood at 89% in the year, up from 84% in 2015.

PJSC Belon coal concentrate and iron ore output in 2016 increased 1.7% and 1.4%, respectively, to 2.9 million tonnes and 3.3 million tonnes, on a yearly basis.

In the fourth quarter of 2016, MMK's total crude steel output slipped just 0.7% to 3.2 million tonnes, relative to the third quarter.

Shipments of finished steel product in the three months increased 2% quarter on quarter to 2.9 million tonnes.

Belon coal concentrate production increased 3.2% to 735,000 tonnes, while iron ore output dropped 1.7% to 810,000 tonnes, on a quarterly basis.