From April 1, Metinvest will increase wages to its employees by 15% on average. The salary of the directors of Metinvest enterprises and employees of the managing company will not increase. Last year Metinvest increased the wages twice: in April they grew by 20%, and in October – by 10%. In 2018 the average salary…
In 2018 rare-earth metals consumption in Russia totaled 1.2 thousand tons, while in China – 100 thousand tons. Thus, the local market is still weak. The main consumption industries are manufacture of catalysts, glass and optics. Consumption could grow, according to the experts, by increasing catalysts output and by developing the metal industry. At present…
Rusal has put into operation the second line of the first stage of the new works in Krasnoyarsk, increasing aluminum capacity from 150 thousand tons to 300 thousand tons per year. The total cost of the plant with the capacity of 600 thousand tons was estimated at $2.6 billion, of which the first stage accounted…
In 2018 Chelyabinsk Zinc Works increased output by 4.3% YoY, to 200.9 thousand tons of zinc. The company also produced 4.013 tons of indium (+3.8%), 926.9 tons of cadmium (+6.7%) and 332.4 thousand tons of sulfur acid (+4.2%). 76.2% of the zinc produced was sold domestically. In 2016-2017 the share of the domestic market was…
In 2018 the enterprises of UGMK-Stal were able to improve sales due to the mastering of new rolled metal types. Electrostal Tyumeni showed the highest increase – by 17% YoY. “This year the company will continue increasing sales with the help of new products, namely 25-40 mm angles. In 5 years of operation Electrostal Tyumeni…
In 2018 Sukhaya Balka received 786.4 million UAH of net profit as opposed to 1.17 billion UAH of net loss in 2017. At the meeting scheduled for April 11, the shareholders will discuss the loan from Oschadbank of up to $30 million for 36 months with the interest rate of 23% in hryvnia, 10% in…
In 2018 Chelyabinsk Zinc Works received 1.92 billion rubles of net profit, down 2.8-fold YoY. At the same time the revenue grew by13.9%, to 33.78 billion rubles. A part of the profit was spent to construct the Korbalikhinsky mine (3 billion rubles). Without this spending the net profit would have reached some 5 billion rubles.…
Magnitogorsk Iron and Steel Works (MMK) is taking part in the 22nd Archimedes Moscow International Salon of Inventions and Innovative Technologies. This year, MMK’s innovative potential is showcased by four patented technologies in the field of cold-resistant metal rolling designed for icebreaker fleets, marine and engineering equipment used in the Arctic. The competitive advantages of…