Magnitogorskiy Metallurgicheskiy Kombinat PAO logo

MMK - Magnitogorskiy Metallurgicheskiy Kombinat PAO News Story

$10.96 0.4  3.4%

Last Trade - 02/12/21

Sector
Basic Materials
Size
Large Cap
Market Cap £6.97bn
Enterprise Value £7.08bn
Revenue £7.76bn
Position in Universe 148th / 1783

BRIEF-Russia's MMK trims its capex forecast to $750 mln-800 mln for 2020

July 6 (Reuters) - MMK  MAGN.MM , Russia's third largest
steel producer says:
    * Changes 2020 capex forecast to $750 mln-800 mln from $750
mln-900 mln seen earlier;
    * Sees decline in total sales in 2020 by 4% and by 10% in
Russia;
    * Expects steel demand in Russia to recover to pre-crisis
levels
not earlier than by mid-2021;
    * Domestic sales stood at around 380,000 tonnes in May,
around
540,000 tonnes in June. Sees it rising to over 580,000 tonnes in
July. 

Further company coverage:  MAGN.MM 

 (Reporting By Moscow Newsroom)
 ((vladimir.soldatkin@thomsonreuters.com;))
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