13 Feb 2009 07:59
February 13, 2009
MMK Announces Q4 and FY 2008 Operational Results
Major Products Output
| Production | Q4 2008 | Q3 2008 |
| 2008 | 2007 |
|
| '000 tons | '000 tons | % | '000 tons | '000 tons | % | |
| Cast iron | 1 205 | 2 276 | -47,0% | 8 541 | 9 482 | -9,9% |
| Crude steel | 1 648 | 3 293 | -50,0% | 11 957 | 13 261 | -9,8% |
| Finished products output | 1 542 | 2 935 | -47,5% | 10 911 | 12 203 | -10,6% |
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| Production | Q4 2008 | Q3 2008 |
| 2008 | 2007 |
|
| '000 tons | '000 tons | '000 tons | '000 tons | '000 tons | '000 tons | |
| Finished products output | 1 542 | 2 935 | -1 393 | 10 911 | 12 203 | -1 292 |
| Slabs and billets | 104 | 170 | -66 | 952 | 976 | -24 |
| Long products | 187 | 453 | -266 | 1 577 | 1 788 | -211 |
| Flat hot-rolled products | 837 | 1 573 | -736 | 5 661 | 6 391 | -730 |
| Flat cold-rolled products | 161 | 340 | -179 | 1 362 | 1 563 | -201 |
| Downstream products |
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| Tin plate | 39 | 58 | -18 | 216 | 249 | -34 |
| Galvanized steel | 101 | 142 | -41 | 455 | 426 | 29 |
| Galvanized colour-coated steel | 28 | 43 | -14 | 157 | 179 | -21 |
| Band | 34 | 82 | -47 | 282 | 336 | -55 |
| Formed section | 42 | 56 | -15 | 187 | 219 | -32 |
| Pipes | 8 | 18 | -11 | 62 | 74 | -13 |
Global economic conditions significantly impacted the demand for steel products in the year of 2008. Increasing demand during the first nine months of the year was followed by a sharp decrease in the fourth quarter.
As demand subsided, the company took the decision to cut steel output and optimize the product mix. In Q4 2008 MMK produced 1,648 thousand tons of crude steel and 1,542 thousand tons of finished steel products.
FY 2008 production stood at 11,957 thousand tons of crude steel and 10,911 thousand tons of finished steel products.
The company continued implementing its cost saving and product mix expansion projects. The year of 2008 saw commissioning of Heating Furnace №4 (at rolling shop №10) and Hot Dip Galvanizing Line №2. Major upgrades included installation of bell-less top charging system for Blast Furnace №10 and repair of Converter №3 at BOF including body substitution.