In January-September Ferrexpo invested over 1.47 billion UAH ($55.3 million) in its Ukrainian assets. In particular, Poltava Mining and Processing Works received over 1075.2 million UAH ($40.4 million), and Yeristovo Mining and Processing Works – 390 million UAH ($14.9 million). PGOK spent this money on deposits development, strategic projects, spare parts, etc. EGOK used the…
The U.S. Department of Commerce has introduced a prohibitive antidumping import duty on carbon and alloy steel wire rod from Belarus, Russia, and the United Arab Emirates following an investigation, it said on November 22. The duty will be set at 280.02% for imports from Belarus, at 436.8-756.93% for imports from Russia and 84.1% for…
A 63 MVA power transformer manufactured by Power Machines – Toshiba. High-Voltage Transformers (PMTT) was shipped in September to the Cherepovets Iron and Steel Works. It was shipped within the framework of the reconstruction of the main step-down substation No. 2. The new equipment is to replace an aging unit, which has already exceeded its…
Belarus is among the world’s top ten metal cord manufacturers, the press service of Belarus Iron and Steel Works (BMZ trademark) reported. On November 21, BMZ celebrated the 30th anniversary of the launch of steel plant No. 1 and the start of metal cord production in Belarus. BMZ produces and sells metal cord, the main…
The Arbitration Court of the North Caucasus Federal District has voided rulings of previous courts to charge metals producer Mechel 12.7 billion rubles in favor of Dutch company Atrix, owner of the Rostov Electrometallurgical Plant. In July, the Arbitration Court of the Rostov region ordered LLC NK Invest, Mechel-Steel, Mechel, and Mechel-Mining to redeem 5.085…
In Q3 Novosibirsk Iron and Steel Works named after Kuzmin received 65.5 million rubles of net profit. The previous quarter ended with the net loss of 153 million rubles. In Q3 2016 the profit was 50 million rubles. In January-September NMZ losses amounted to 161.7 million rubles as opposed to 206 million rubles of net…
In January-October the average delivery of ferrous metals scrap via railroad to metal works was 4.7 days, down by 1.3% YoY. The longest delivery (5.8 days) was in 2012. This year for batches of up to 260 tons (76% of all the deliveries) the speed was 4.8 days, for 260-520 tons (16%) – 4.2 days,…
By the end of 2017 Norilsk Nickel plans to have increased its specialized palladium fund to 600 thousand ounces (18.7 tons). Global Palladium Fund was created in 2016 to develop the demand for metal and decrease market volatility and price risks. Earlier Nornickel reported that in H1 it purchased over 5 tons of palladium (some…
