Tertius News is an AI-native newsroom: an AI model reads the source articles linked below — on this story, all of them from one outlet — and extracts what that outlet reported, claim by claim. How this works →

MMK keeps steel output at 5.19 mln metric tons, raises pig iron output by 2% in 1H 2026

MMK Group posted a net loss of 19.1 billion rubles in H1 2026 under IFRS, with revenue down 10% year-on-year, while steel production remained steady at 5.19 million metric tons and pig iron output rose 2%. The company cited lower selling prices and seasonal demand recovery as key factors.

By Tertius News AI Desk 1 outlet · 2 articles Version 1 Coverage Jul 23, 2026 Published Aug 14

MMK Group's H1 2026 Results: Stable Output, Financial Headwinds

Russian steelmaker MMK Group reported a net loss of 19.1 billion rubles ($244.3 million) for the first half of 2026 under International Financial Reporting Standards (IFRS), according to the company's financial statements, as reported by TASS. This compares with a net profit of 5.6 billion rubles ($71.6 million) in the same period of 2025.

The group's revenue declined by 10% year-on-year to 282.3 billion rubles ($3.61 billion), a drop the company attributed to lower selling prices. EBITDA fell by 40.9% to 24.7 billion rubles ($315.9 million), also reflecting reduced revenue. Free cash flow for the period totaled 2.6 billion rubles ($33.3 million), exceeding the level recorded a year earlier, primarily due to lower capital expenditures.

In the second quarter alone, revenue increased by 18.8% compared with the first quarter, reaching 153.3 billion rubles ($1.96 billion), driven by higher sales volumes amid a seasonal recovery in demand, TASS reported. EBITDA doubled quarter-on-quarter to 16.09 billion rubles ($205.8 million), while the net loss for the quarter stood at 17.7 billion rubles ($226.4 million). Capital expenditures in Q2 amounted to 15.4 billion rubles ($197.0 million), down 2.5% from the previous quarter. For the first half, capital expenditures declined by 30.2% year-on-year to 31.2 billion rubles ($399.1 million).

Production and Sales Performance

On the operational side, MMK Group kept steel production in the first half of 2026 at the same level as in the first six months of 2025, at 5.19 million metric tons, according to company data cited by TASS. Pig iron production increased by 2% to 4.6 million metric tons. Steel product sales rose by 2.1% year-on-year to 5.02 million metric tons, primarily reflecting higher sales of semi-finished products, long steel products, and premium products, while sales of hot-rolled steel declined.

Quarterly figures showed steel production in Q2 increased by 12.2% compared with Q1, reaching 2.75 million metric tons. Pig iron production declined by 4.8% quarter-on-quarter to 2.27 million metric tons due to major overhauls at blast furnace facilities. Sales of steel products increased by 23.5% compared with Q1, reaching 2.77 million metric tons.

Key Claims

MMK Group's net loss under IFRS totaled 19.1 billion rubles ($244.3 million) in January–June 2026.
Revenue declined by 10% to 282.3 billion rubles ($3.61 billion) in the same period, attributed to lower selling prices.
EBITDA fell by 40.9% year-on-year to 24.7 billion rubles ($315.9 million).
Free cash flow for H1 2026 totaled 2.6 billion rubles ($33.3 million), exceeding the prior-year level.
Steel production remained steady at 5.19 million metric tons in H1 2026 versus H1 2025.
Pig iron production increased by 2% to 4.6 million metric tons.
Sales of steel products rose by 2.1% year-on-year to 5.02 million metric tons.
Q2 steel production grew 12.2% quarter-on-quarter to 2.75 million metric tons; Q2 sales rose 23.5% to 2.77 million metric tons.
Q2 revenue increased 18.8% quarter-on-quarter to 153.3 billion rubles ($1.96 billion).

How this outlet told it

TASS — English as of Jul 23, 2026, 1:30 PM UTC

Framing: Financial performance — Neutral

Facts Included:

MMK Group's net loss under IFRS totaled 19.1 bln rubles ($244.3 mln) in January-June 2026
The group's revenue declined by 10% to 282.3 bln rubles ($3.61 bln)
EBITDA fell by 40.9% year-on-year to 24.7 bln rubles ($315.9 mln)
Free cash flow for the first six months of 2026 totaled 2.6 bln rubles ($33.3 mln)
MMK's revenue in the Q2 of 2026 increased by 18.8% compared with the Q1 of 2026

Read the source article →

TASS — English as of Jul 23, 2026, 1:30 PM UTC

Framing: Production and sales — Neutral

Facts Included:

MMK Group kept its steel production in the first half of 2026 at the same level as in the first six months of 2025
Pig iron production increased by 2% to 4.6 million mln tons
Sales of steel products rose by 2.1% year-on-year to 5.02 mln metric tons
Steel production in the Q2 increased by 12.2% compared with the Q1

Read the source article →

What was claimed, and who backed it

Each row is one claim, attributed to the outlet whose wording states it most clearly. Confidence rates how directly the source text states the claim — explicit and unhedged rates high; hedged, pieced-together, or internally inconsistent statements rate lower. It does not measure whether the claim is true. Status counts the distinct outlets we found asserting it — so a single-source claim can still show high confidence, and a multi-source claim can show medium. Every one of those outlets is named beside the status, so you can check the count against the list. For claims extracted before we began storing that list, the row says so: it names the outlet the claim is quoted from and states that we have not recorded which outlets backed it. Outlets wrote at different times, so a figure that evolves — a casualty count, for example — can legitimately differ between rows; check the "as of" time next to each claim's source.

Claim	Confidence	Status
ClaimMMK Group's net loss under IFRS totaled 19.1 bln rubles ($244.3 mln) in January-June 2026.	ConfidenceHigh	StatusSingle-source via TASS — English as of Jul 23, 2026, 1:30 PM UTC
ClaimThe group's revenue declined by 10% to 282.3 bln rubles ($3.61 bln) in January-June 2026.	ConfidenceHigh	StatusSingle-source via TASS — English as of Jul 23, 2026, 1:30 PM UTC
ClaimEBITDA fell by 40.9% year-on-year to 24.7 bln rubles ($315.9 mln) in January-June 2026.	ConfidenceHigh	StatusSingle-source via TASS — English as of Jul 23, 2026, 1:30 PM UTC
ClaimFree cash flow for the first six months of 2026 totaled 2.6 bln rubles ($33.3 mln).	ConfidenceHigh	StatusSingle-source via TASS — English as of Jul 23, 2026, 1:30 PM UTC
ClaimMMK's revenue in the Q2 of 2026 increased by 18.8% compared with the Q1 of 2026.	ConfidenceHigh	StatusSingle-source via TASS — English as of Jul 23, 2026, 1:30 PM UTC
ClaimMMK Group kept its steel production in the first half of 2026 at the same level as in the first six months of 2025, at 5.19 mln metric tons.	ConfidenceHigh	StatusSingle-source via TASS — English as of Jul 23, 2026, 1:30 PM UTC
ClaimPig iron production increased by 2% to 4.6 million mln tons in the first half of 2026.	ConfidenceHigh	StatusSingle-source via TASS — English as of Jul 23, 2026, 1:30 PM UTC
ClaimSales of steel products rose by 2.1% year-on-year to 5.02 mln metric tons in the first half of 2026.	ConfidenceHigh	StatusSingle-source via TASS — English as of Jul 23, 2026, 1:30 PM UTC
ClaimSteel production in the Q2 increased by 12.2% compared with the Q1 of 2026, reaching 2.75 mln metric tons.	ConfidenceHigh	StatusSingle-source via TASS — English as of Jul 23, 2026, 1:30 PM UTC

Transparency & Audit Trail

1 outlet · 2 articles consulted: TASS — English 9 claims extracted Version 1 Written 2026-08-14