Russia's Magnitogorsk Iron & Steel Works (MMK) plans to increase its production of hot-rolled coil and pig iron over the next five years, chief executive officer Pavel Shilyaev said during the company's capital markets day at the London Metal Exchange on November 15.
At the one-day event for investors and analysts, which also included a media briefing, MMK laid out its plans for reconstruction next year of its hot-rolled products Mill-2500. This will start in March 2020 and will require the mill to stop production for 110 days, Shilyaev said.Once the reconstruction is complete, the mill will have an expanded capacity for 5 million tonnes per year of hot-rolled coil, an increase of 35% from the current 3.5 million tpy.Although this will be an increase in capacity of 1.5 million tpy, the expected increase in output will be only 700,000-800,000 tpy, Shilyaev said.This was because, once the new mill begins production,...