MMK PLANS TO BOOST PRODUCTION 18 percent IN JAN, 42 percent IN FEB

摘要

Magnitogorsk Iron & Steel Works (MMK) plans to produce 500,000 tonnes of steel in January and 600,000 tonnes in February in response to rising demand, company board chairman Viktor Rashnikov said at a session in Chelyabinsk on January 24 in which the head of the Urals federal district, Nikolai Vinnichenko, took part. "There is visible movement on the market, but it's not logical. I don't see any particular recovery in the [steel-consuming] sectors. But inventories at metal traders are running low. They are replenishing them, clear in the understanding that the metals sector has reached bottom and prices aren't going to drop any further," Rashnikov said.