Ukraine: Ferrexpo net profit down in 2018

In 2018 Ferrexpo received $355.22 million of net profit, down by 15% YoY. Revenue grew by 6.4%, to $1274.03 million. Pellets sales dropped by 2.3%, to 10.227 million tons, while their manufacture increased by 1.6%, to 10.607 million tons. Gross profit last year fell by 2.5%, to $766.09 million, and EBITDA – by 8.7%, to…

Russia: Ventall output up in Q1 2019

Q1 was quite successful for Ventall. The volume of orders on the delivery of ferrous metals structures grew by 38% YoY, and components – by 19%. In order to retain the positive dynamics, the company intends to modernize its capacities, increase product portfolio and develop partner network. “We have optimistic plans for the future. The…

Russia: Severstal net profit down in Q1 2019

In January-March, Severstal net profit decreased by 7.2% YoY, to $428 million.

EBITDA dropped by 6.1%, to $663 million.

Compared with Q4 2018, net profit fell by 26%, and EBITDA – by 16.5%.

The group net debt as of March 31, decreased by 30%, to $863 million. (Ukrainian metal)

Kyrgyzstan: Prime Minister instructs to suspend uranium mining in Issyk-Kul

Prime Minister of Kyrgyzstan Mukhammedkaly Abylgaziev instructed to suspend work at the uranium deposit in Kyzyl-Ompol area, the Information Policy Department of the Government’s Executive Office reported. The head of the Cabinet held a meeting on the activities of YurAsia company in Kyrgyzstan. An interdepartmental working group was formed on December 31, 2018. Its participants…

Russia: Rusolovo to increase Solnechnaya factory capacity

In 2020 Rusolovo intends to complete the modernization of the Solnechnaya factory at the Festivalnoye deposit in Khabarovsk region.

Investments will reach 1.4 billion rubles.

After modernization the factory will be producing 1.2 thousand tons of tin concentrate per year. (Ukrainian metal)

Russia: Severstal-Balakovo finishes electric steel shop repair

Severstal – Bar Works Balakovo has finished scheduled capital repairs of the main and auxiliary machinery.

The cost of the repair exceeded 40 million rubles.

The repair covered machinery in the electric steel smelting shop. (Ukrainian metal)

Russia: steel output down in Q1 2019

In January-March, Russia decreased production of unalloyed steel and semi-finished products by 0.2% YoY. In March the output totaled 4.8 million tons, down by 7.4% YoY and by 0.1% MoM. According to the Federal Service of State Statistics, stainless steel manufacture dropped by 14.3% YoY, but grew by 13.4% MoM, to 14.3 thousand tons. In…