The rating agency Expert RA has confirmed the Severstal credit worthiness rating at the level of ruAAA with Stable Outlook. According to the agency, the group is maintaining one of the highest levels of profitability among global metal companies. In 2019 its EBITDA margin was 34.4%, down from 36.6% in 2018. The group debt grew…
Metalloinvest, Kursk region and the city of Zheleznogorsk authorities have signed a program of social and economic partnership for 2020. Parties will invest 1.5 billion rubles under the program, with 827 million rubles to come from Metalloinvest. In 2019, Mikhailovsky Mining and Processing Works, a part of Metalloinvest, paid 13 billion rubles to the regional…
Metals company Norilsk Nickel has received a proposal from Russian Platinum to discontinue talks on establishment of joint venture Arctic Palladium in the absence of required corporate permits for the JV from Norilsk’s shareholder RUSAL, Norilsk Nickel said in a statement. “The company’s management has commenced reshaping its partnership with Russian Platinum considering means to…
Management of ArcelorMittal Kriviy Rih has decided that the company will continue to fulfill its obligations and pay the land and property taxes due in March, despite the amendments to Tax Code approved by the State last week. The company does not plan to stop fulfilling its obligations for land and property tax as these…
In January-February, Yuzhniy Mining and Processing Works decreased iron ore concentrate manufacture by 8.1% YoY, to 1.917 million tons. The enterprise did not produce sinter. Concentrate output in February totaled 930 thousand tons. In 2019, UGOK produced 12.3 million tons of concentrate, up by 0.1% YoY, and 945.8 thousand tons of sinter, down by 45.8%.…
In 2019, Electrostal Iron and Steel Works received 176.34 million rubles of net profit. In Q4 2019, the company received 14 million rubles of net profit, down from 58 million rubles in Q3 2019. In 2018, Electrostal saw a net loss of 558 million rubles. Revenue last year grew by 2% YoY, to 14.06 billion…
In December 2019, Russia exported 208 tons of rolled copper, up by 9% MoM, but down by 24% YoY. Price grew from $7 to $7.4 per kg. Deliveries to Belarus increased from 107 tons to 117 tons, and to Kazakhstan – from 16.7 to 29 tons. At the same time Ukraine decreased purchases by 20%,…
In January, Russia imported 109.7 thousand tons of manganese ore and concentrate, up by 26% MoM and by 63% YoY. Price was $200 per ton. Deliveries from South Africa dropped by 14%, to 63.6 thousand tons, but from Ghana grew 5-fold, to 39.5 thousand tons, and from Kazakhstan – from 4.7 thousand tons to 6…