Metallurgy

OJSC Magnitogorsk Iron and Steel Works ("MMK") today announces that it has signed a contract with Metalloinvest regarding supplies of hot-briquetted iron (HBI) to MMK.

MMK Group financial statements

OJSC Magnitogorsk Iron and Steel Works ("MMK") announces that it has started construction of a new sinter plant as part of its long-term development strategy announced in November 2015 to increase efficiency and reduce costs.

Aluminium production in 3Q16 totaled 920 thousand tonnes (flat Q-Q), with Siberian smelters representing 94% of total aluminium output. Smelters utilization remained on average at a high of 94%.

3Q16 consolidated nickel production amounted to 56 kt decreasing 4% quarter-on-quarter (q-oq).

The Board of Directors of the World Steel Association (Worldsteel) has elected Alexey Mordashov, Chairman of PAO Severstal, one of the world’s leading vertically integrated steel and steel-related mining companies, as a member of the association’s 2016/2017 executive committee at Worldsteel’s 50th Annual Conference in Dubai, UAE.