Severstal and the First Cargo Company have signed a 5-year agreement on railroad transportation of metal in open wagons. The agreement provides for annual transportation of some 16 million tons of metal. The companies have been cooperating since 2013. That year an agreement was concluded for 5 years. Since then PGK has transported 105 million…
Russia has a plan to support Rusal hit by US sanctions, including by buying aluminum to the state reserves. In April the company was severely hit by sanctions. Metal deliveries under contracts concluded before April 6 are allowed until October 23. According to the minister of industry and trade Denis Manturov the government has a…
Charity fund of PJSC ArcelorMittal Kriviy Rih submitted 220 PCs to 13 schools and the Center for Children’s Social and Physiological Rehabilitation of Saksaganskyi district. The certificates for computer hardware were presented to the school directors in the administration of Saksaganskyi district. To improve facilities of the schools of Kriviy Rih, to make training of…
In January-June the state enterprise Vostochniy Mining and Processing Works received 13.36 million UAH of net profit, down 16.9-fold YoY. According to the company statement, its net income dropped by 23.2%, to 1.2 billion UAH. Gross profit decreased 2.5-fold, to 170.35 million UAH. Last year VostGOK received 388.94 million UAH of net profit, down by…
The Ministry of Industry and Trade believes that the world market has started suffering from the aluminum shortage. “The world shortage of aluminum amounts to 1.5 to 2 million tons per year, and we expect aluminum consumption, processing and production to increase”, the ministry head Denis Manturov said. Last year Russia implemented a program to…
Iron ore transportation in July reached the record-high level in the past 15 years at 10.1 million tons, up by 9.8% YoY. Since the start of the year railroads have transported 67.1 million tons of ore, up by 5.1% YoY. Local transportation increased by 11%, while exports remained flat. (Ukrainian metal)
Chelyabinsk Iron and Steel Works has produced 2 million tons of rolled metal since commissioning of its rail and beam mill. 1.5 million tons were produced in early January. The company has the first manufacture of high quality rails and beams with the length of 100 meters in Russia. The first beam was produced on…
Ferrexpo Plc. can increase the size of the pre-export financing of 2017 from $195 million to $500 million, postponing the payment from 3 to 4 years. According to the draft decision of the extraordinary shareholders meeting of Poltava Mining and Processing Works scheduled for September 17, amendments will be made to the loan agreement of…
