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, a stark contrast to the 5.6 billion ruble profit recorded in the same period last year.
The Moscow-based steelmaker also disclosed that group revenue declined by 10% during the reporting period, reflecting continued pressure on pricing and demand in its core markets.
The results highlight the ongoing challenges facing Russia's industrial sector amid broader economic constraints.
While the company has not provided detailed guidance for the second half of the year, the widening loss suggests that margin recovery may remain elusive in the near term.
Investors will be watching for signs of stabilization in steel prices and any strategic adjustments to production volumes.
MMK's performance is part of a wider trend of volatility in the metals industry, where supply chain disruptions and shifting demand patterns have complicated operational planning.