Turkey’s MMK Metalurji, a subsidiary of Russian steelmaker MMK, reported no steel output in the first quarter, Kallanish notes from MMK’s operational results.
The company continued the complete production halt that was already observed in the third and fourth quarters of 2024. In Q2 2024 the company reported 133,000 tonnes of output and in Q1 2024 it produced 142,000t.
According to sources, sanctions against Russia and Turkiye’s economic headwinds are affecting the company’s operations.
Earlier in March, some market participants observed the Turkish unit may look for a buyer.
Notably, MMK’s International Steel Production Outside Russia segment reported a decline in revenue in 2024. Revenue amounted to RUB 49.616 billion ($536 million), compared to RUB 52.655 billion in 2023.
MMK Metalurji operates a 2.5 million tonnes/year hot-rolling production complex, with an electric arc furnace, caster and hot strip mill.
Additionally, the company has an 800,000 t/y cold-rolling line, 900,000 t/y galvanizing line, a 400,000 t/y colour-coating line and 800,000 t/y cutting-slitting service centre. It has a port that can handle up to 10m t/y of steel products.