page_title: Magnitogorsk Iron and Steel Works
section_title: MMK in the post-Soviet era
hierarchical_section_title: Magnitogorsk Iron and Steel Works / MMK in the post-Soviet era
caption_attribution_description: English: MAGNITOGORSK. President Vladimir Putin at a blast-furnace shop of the Magnitogorsk Iron and Steel Works (MMK).Русский: МАГНИТОГОРСК. Осмотр доменного цеха Магнитогорского металлургического комбината.
context_page_description: Magnitogorsk Iron and Steel Works, abbreviated as MMK, is an iron and steel company located in the city of Magnitogorsk, Russia. As of 2017 it was the 30th largest steel company in the world.
context_section_description: As with the majority of the state-run industries, MMK underwent a series of shifts towards privatization after the fall of the Soviet Union. In 1992, MMK transitioned to become a joint stock company. Due in part to the economic downturn that was experienced in Russia during this time, MMK suffered a significant drop in its levels of productivity. In 1996, production fell to 5.8 million tons per year.
  However, in recent years, MMK has rebounded with significantly increased levels of productivity by entering new sectors of the metal works industry. In 2007 the company became a publicly traded company on the London Stock Exchange, and in 2008, crude steel production at the plant was reported to have reached some 12 million tons. There has also been a move to enter into new international markets. Production has increasingly shifted towards the export market with some years reporting the share of exports comprising 70% of total production.
  MMK produces 400 different types of steel, and one of its workshops is a mile long.
caption: President Putin visits the plant, December 2000.
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