OREANDA-NEWS. MMK has reported its 10M07 operating results. In January-October  2007, the company ramped up steel output 7.5% to 11.46 mn t.

Thus, in 2007 the metal maker could produce around 13.70 mn t of steel, which is nearly in line with experts' forecasts (around 13.50 mn t) and 22% higher than in 10M06.

Furthermore, finished ore output at MMK jumped 3.8% to 1.25 mn t and hot-rolled products 7.2% to 10.7 mn t. Meanwhile, sintered ore production declined 6.5% to 8.5 mn t, cast iron 2.8% to 7.9 mn t, coke 3.10% to 4.5 mn t. MMK’s marketable product output advanced 8.5% to 10.12 mn t. 

MMK currently holds over 20% of  the Russian metal products market. The share of exports in the metal maker’s sales dropped 7.2% in 10M07 to 38.8%, which confirms the company’s plans to ramp up domestic deliveries by way of exports. Antanta Capital's analysts view MMK’s results as moderately positive, since they are  largely in line with their expectations. At present, investors are advised  to Hold MMK stocks. Experts' fair price is $1.54 per common share, which implies 15% upside to the current market valuations.