MMK: demand fall for steel to make up 10% in 2016

On the results of 2016 MMK expects a 10% demand fall for steel and hopes to cover this fall by means of export, CEO of MMK, P. Shilyaev, said.

This forecast exceeds the expectations of Fitch agency that forecast only a 2% fall of demand for steel. In 2015 the reduction of the domestic consumption made up 9%, in January-February 2016 – 15% at the reduction of export by 5%, the agency reports.

According to the CEO of MMK, the company still hopes to sell the package of shares of Fortescue. The 5% package of the Australian iron ore producer is likely to be sold out in small parts – based on the price environment.

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