Operating results

In May, MMK increased exports by 3.5 times, to 350 thousand tons from the usual 100 thousand tons per month. The management notes the beginning of recovery in the Russian market in June. In Q2 production volumes were affected by the planned shutdown of the 2500 mill for reconstruction, which led to a decline in monthly output on Magnitogorsk site from 900 to 700 thousand tons per month. According to the company's estimates, the worst period for the demand for steel due to the pandemic falls on May - June.