28
Feb
11:52
MMK seeks to further $135m 2015 cost cuts
Magnitogorsk Iron and Steel Works (MMK) cut production costs by $135 million in 2015 by improving efficiency, thereby reducing finished product cost of sales by 3%.
Spending on fuel and energy resources was reduced by $30m, raw materials procurement costs declined by $50m, repair and maintenance costs went down $19m and $36m was saved by “...optimising management costs,” the Russian steelmaker says.
For 2016, “…our plans include the i…
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Very good overview of the weekly steel market.
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