Reportedly, Russia’s Magnitogorsk Iron & Steel Works (MMK) indicated that the demand for steel and that price would remain stable shortly due to the solved economy crisis.
Meanwhile, Russia’s demand for steel in domestic market has risen by 25% in this year. It is expected to soar by 10% in 2011 and be back to the standard before the economy crisis in 2012~2013.
Besides, MMK plans to carry out some important projects in the near future, including two new rolling machines, Atakas program, four converters in Magnitogorsk plant.
It is estimated that MMK would completed the investment valued US$2 billion by 2010. Also, the company plans to pump US$1.2 billion~US$1.5 billion into the projects annually in 2011~201.
(Source: www.yieh.com)