a restriction on visits to Company delegations of business partners. Meetings, negotiations and business trips opportunities are replaced by remote means of communication.
Group of PJSC "MMK" technologically and organizationally ready to transfer office functions on the remote work.
Coronavirus infection affects the entire global economy. In this regard, the Company's management conducted an assessment of its potential impact on performance indicators based on the currently available information on the macroeconomic situation in Russia and in the world.
during the peak time of the spread of coronavirus infection and the reduction in business activity, the MMK Group conducts repairs of equipment with a planned decline in production. At the moment critical impact on product sales in major markets of the Company are not observed. However, a negative situation with the development of the pandemic can have a negative impact on the world of business activity and business activity in Russia.
the prices of steel products in the domestic market over the next 2-3 months will seek to export parity, normalizing the award of the internal market. Note that the Company, if necessary, has the ability to redirect some volumes of steel products on export markets.
today the Group of PJSC "MMK" has difficulties with the supply of key raw materials and supply of equipment and spare parts. All the raw materials are taken on special control and monitored, taking into account their consumption in production and inventory.
Group of PJSC "MMK" continues implementation of the investment program in accordance with its development strategy. Currently, management estimates the impact of unfavorable epidemiological situation on investment projects implemented in 2020, as a minimum.
the Company is closely monitoring the situation and are fully prepared to take action to minimise the risks to staff and business of the Company. However, we cannot exclude the negative impact of the pandemic on economic activity, commodity prices and steel prices in some regions of the world.