Earnings Report /
Russia

Magnitogorsk Iron & Steel Works: 3Q21 IFRS review – EBITDA slightly below estimates; Neutral

  • MMK reported its 3Q21 results which fell slightly short of market expectations on the EBITDA line

  • MMK shared a conservative 4Q21 outlook expecting a seasonal slowdown in Russia and mixed dynamics in the global markets

  • The elevated coking coal and iron ore prices continue to put pressure on MMK’s cost base

Boris Krasnozhenov
Boris Krasnozhenov

Head of Research (Managing Director)

Yulia Tolstykh
Yulia Tolstykh

Analyst, Metals & Mining

Alfa
25 October 2021
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