OREANDA-NEWS. MMK (LSE: MMK) announces its operational results for Q1 2016

MMK Group's total crude steel output in Q1 2016 equalled 3,025 thousand tonnes (+4.4% q-o-q and -6.3% y-o-y). Overall steelmaking capacity utilisation at the main Magnitogorsk site (taking into account the scheduled maintenance) in Q1 2016 increased to 88% (as compared to 80% in Q4 2015).

MMK Group's total finished steel product shipments in Q1 2016 (excluding intra-group sales) amounted to 2,788 thousand tonnes (+4.5% q-o-q and -5.4% y-o-y). The decrease versus Q1 2015 was due to an unusually high level of sales in the first quarter last year, when metals traders were restocking amid high inflation expectations.

MMK Group's HVA steel product output in Q1 2016 was 1,249 thousand tonnes. The share of HVA products in total output decreased slightly q-o-q to 44.8%.

Production of coal concentrate by Belon in Q1 2016 stood at 794 thousand tonnes (flat q-o-q). Growth versus Q1 2015 was 33.7%, mainly due to maintenance works in the previous period.