Metallurg Arena was built in 2007 by the Finnish company LENCOM in full alignment with the hockey Superleague requirements. The capacity of the arena is 7,500. It is situated in the center of Magnitogorsk at the intersection of Lenin Avenue and Zavenyagin street near the Church of the Ascension of the Lord. The name was chosen by means of a competition announced by the Information and Public Relations Department of the PJSC MMK and HC Metallurg. So many people wanted to give a name to the new stadium that for the very short period of time 5,500 versions were received and 3,500 among them were unique. 400 people took part in the competition.
The very first pile of the foundation of the new hockey stadium was laid on September 1, 2005. The grand opening of the Metallurg Arena was held on January 12, 2007. The Arena is equipped with mobile spectator stands, which allow changing sizes of the area to hold competitions in various sports as well as exhibitions, fairs, concerts, and other mass gatherings. According to the Finnish experts who built the new stadium, Metallurg Arena meets all modern requirements for such constructions and its technical equipment is equal to that of the best at the NHL stadiums.
There is a restaurant overlooking the ice rink and numerous VIP boxes. The stadium stands included special observation areas for people with disabilities. Metallurg Arena can be used to host top-level competitions up to the Ice Hockey World Championships. The last game at the previous stadium Metallurg played against Vityaz (Chekhov) and 3 weeks later again — at the new arena. The hosts won 4–3. Metallurg Magnitogorsk won over the current champion of the Russian Superleague and got its third champion cup in the first year of the stadium opening. In the 2008 — 2009 season, Arena Metallurg hosted the games of the first KHL season and the first Champions Hockey League, in which Metallurg took part. Metallurg hosted at its stadium: EHC Eisbaren (Germany), Karpat (Finland), ZSC Lions (Switzerland).
In the 2009 — 2010 season the Arena hosted games of the first MHL season, in which the youth team Steel Foxes (Magnitogorsk) played and became the champion of the new hockey league. All of the most prestigious awards of the modern hockey world have been within the walls of the Arena, such as the Russian Cup Champion, the Supercup, the Silver Stone, the Spengler Cup, the Kharlamov Cup, and the Stanley Cup, brought in Magnitogorsk in 2009 by Evgeni Malkin who attended Metallurg Ice Hockey School in Magnitogorsk. Metallurg Arena is used not only for hockey games, ice shows, and concerts but also for mass skating. Everyone can visit the Museum of Hockey Fame situated on the second floor in the lobby and take photos with trophies of the team.