Moody’s Investors Service says in a new report that rising input costs and an inability to pass on higher costs to customers is pressuring the profitability of Asian steel producers, and has as a result revised its outlook for the sector to negative. Chris Park, an Associate Managing Director in Moody’s Corporate Finance Group, said…
The volume of capital investments in the metal industry and the manufacture of metal wares in January-June grew by 38.3% YoY, to 12.34 billion UAH. In Q2 the investments dynamics improved considerably – 48.3% from 27.6%. According to the State Statistics Service, investments in mining increased by 42.9% YoY, to 30.9 billion UAH. In Q1…
In June Russia imported 76 thousand tons of chromium ore and concentrate, down by 16.8% MoM and by 12.2% YoY. Deliveries from Kazakhstan decreased by 10%, from South Africa by 58% and from Turkey by 56%, to 70, 2 and 4 thousand tons respectively. In 6 months the imports of chromium ore totaled 486.1 thousand…
TALCO Gold, a joint venture created by the Tajik state aluminum company TALCO and Chinese Tibet Huayu Mining, announced that it would start developing the mercury-antimony deposit Konchoch in March 2020. TALCO received the license back in 2015. The joint venture plans to extract some 15 thousand tons of antimony per year and produce 6…
In January-June the Industrial and Metallurgical Holding received 46.4 billion rubles of consolidated revenue, up by 8% YoY. Gross profit decreased by 11% mostly due to the growth of expenses on raw materials. Operational profit decreased by 39%. Net profit amounted to 4.5 billion rubles, up by 116% YoY. EBITDA LTM stood at 17.3 billion…
In January-June VIZ-Stal produced 86 thousand tons of transformer steel. The capacities were 100% loaded. Transformer steel sales totaled 83 thousand tons. Exports accounted for 86% of sales. (Ukrainian metal)
The net profit of Russian titanium giant VSMPO-Avisma grew by 25.5% YoY, to $210.3 million in January–June, as calculated under International Financial Reporting Standards (IFRS), the company said in a report August 29. Revenue increased by 3.6%, to $814 million. Earnings before interest, taxes, depreciation and amortization (EBITDA) fell by 3.7%, to $305.9 million. Long-term…
“Entry into force of a new strategic agreement between Centerra Gold and the government of Kyrgyzstan will have a positive effect on both operation of the mine and the mining industry,” Eldar Tadzhibaev, Chairman of the Central Committee of the Mining and Metallurgical Union, declared. According to him, it is good that the government and…