Magnitogorsk to Raise February Steel Output to 700,000 Tons

OAO Magnitogorsk Iron & Steel plans to produce 700,000 metric tons of steel in February, Vice- President Rafkat Takhautdinov said in the steelmaker’s corporate newspaper today.

Magnitogorsk cut production by 51 percent to 1.64 million tons in the fourth quarter as demand plunged, Interfax reported Jan. 20.

To contact the reporter on this story: Maria Kolesnikova in Moscow at mkolesnikova@bloomberg.net.

To contact the editor responsible for this story: Stuart Wallace at swallace6@bloomberg.net.

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