Ukraine: Mariupol Ilyich invests 1.6 billion UAH into modernization

In 2016 Mariupol Ilyich Iron and Steel Works spent 1.647 billion UAH on its technical modernization. Strategic investment projects cost the company 894 million UAH. “That’s the reconstruction of the gas-purifying equipment in the sintering factory (259 million UAH) and the second converter (136 million UAH), overhaul of the blast furnace No. 4 (334 million…

Russia: Severstal financial results for 2016

Severstal has announced its financial results for the 2016. According to its press release, Severstal’s revenue decreased by 7.5% YoY, to $5,916 million, primarily reflecting a substantial decline in average steel selling prices at the beginning of 2016, as a result of the net decline in global benchmarks and a marginal decline in sales volumes.…