Board of Directors of Magnitogorsk Metallurgical Plant recommended not to pay dividends for 2025. The last time the company paid dividends was for the first half of 2024.

MMK's sales of commodity metal products for 3 months of 2026 decreased by 7.4% to 2.25 million tons. The share of high-value-added products decreased by 1.3 percentage points to 40.4%. Steel production decreased by 4.9% to 2.45 million tons. Iron production increased by 9.1% to 2.38 million tons. Coal concentrate production decreased by 1.6% to 0.787 million...

Magnitogorsk Metallurgical Plant's IFRS loss for 3 months of 2026 amounted to ₽1.37 billion, compared to a profit of ₽3.14 billion in the previous year. Revenue decreased by 18.6% to ₽129.03 billion, compared to ₽158.46 billion a year earlier.

MMK intends to reduce its management staff by 10% and stop its underutilized production units amid the industry downturn, according to an address by the company's CEO, Pavel Shilyaev, to its employees. In 2025, MMK was operating at a 70-80% capacity and had minimal profitability, resulting in a decline in sales and a net loss of almost ₽15 billion. Currently...