This year, Electrostal intends to increase the number of its subsidiaries – now it has eight. “We prepare the ninth. Sales are expected to increase by 20%. We try to make sure that prices in our subsidiaries are 20-30% below market prices. This is achievable, as we are working without middlemen”, the company CEO Nikolay…
Kirov Non-Ferrous metals Processing Works has successfully passed the inspection in the “Made in Russia” system of voluntary certification. The company has received official documents Russian Exporter and Made in Russia and has been added to the Registry of conscientious exporters, which makes it more recognizable on foreign markets. Before issuing certificates, the experts of…
In 2019, Uchaly Mining and Processing Works increased net profit 5-fold YoY, to 1.09 billion rubles. Revenue totaled 22.06 billion rubles, up by 0.5% YoY. Sales profit grew from 302 million rubes to 1.1 billion rubles. (Ukrainian metal)
Bailiffs of the Krasnoyarsk region have suspended the operation of Yeniseiskiy Iron and Steel Works based on the court ruling. The manufacturing object is situated on the territory of Krasnoyarsk Iron and Steel Works. EMZ produces steel of various grades, alloys and ready-made steel components. The bailiffs halted the operation of the enterprise by shutting…
Neryungri-Metallik LLC, a part of Nordgold, in 2019 produced 8.2 tons of refined gold at its Gross mine in Yakutia. The output target was exceeded by 36%. In early 2019, the company expected to produce 5.9 tons of gold last year. The increase is due to the expansion of the factory capacities from 12 million…
Mechel has addressed its main bank-creditors (VTB and Gazprombank) asking them to prolong the postponement to pay debts until the debt is restructured. As of late 2019, the volume of loan debt exceeded 370 billion rubles. Gazprombank has agreed to postpone the payment for a month, while VTB has not decided yet. In 2017, Mechel…
In January-February, the share of metal and wares in the overall exports totaled 8.6%, down from 9.4% last year. Far foreign countries accounted for 7.6% (9% in January-February 2019), while CIS – 16.8% (12.5%). The exports of pig iron decreased by 57%, aluminum – by 53.5%, ferroalloys – by 20%, flat iron and unalloyed steel…
International rating agency Moody’s has worsened its outlook for Russia’s steel sector to negative from stable. The agency attributed the move to an anticipated decline in demand for steel amid low oil prices and a weak industrial PMI. Moody’s expects that demand for steel will fall by 3-7% this year compared with a previous projection…