Russia: Amurmetal earnings down in Q1 2017

In January-March Amurmetal received 897.855 million rubles of net losses, down by 17.1% YoY.

According to the company report, earnings dropped 12.6-fold, to 133.684 million rubles.

In Q1 Amurmetal decreased steel output 6.5-fold YoY, to 13.57 thousand tons, and rolled metal – 8.8-fold, to 2.4 thousand tons. (Ukrainian metal)

Ukraine: Verkhovnaya Rada to prolong scrap export duty

The Verkhovnaya Rada committee on industrial policy and entrepreneurship recommended the parliament to extend the scrap export duty of 30 euro per ton for 2 years.

According to the state enterprise Ukrpromvneshexpertisa in 2016 scrap procurement reached 3.5 million tons, the minimum volume for the past 20 years. (Ukrainian metal)

Russia: Belon turns into MMK-ugol

In Q1 Magnitogorsk Iron and Steel Works finished the reorganization of its coalmining company Belon.

Within the program 7 companies, previously a part of Belon, joined MMK-ugol.

MMK controls 67.76% of MMK-ugol. (Ukrainian metal)

Russia: VSMPO-Avisma income at 18 billion rubles in Q1 2017

In January-March VSMPO-Avisma received 5.07 billion rubles of net profits, down by 34% YoY.

Earnings totaled 17.9 billion rubles, down by 3%.

The company accounts receivable increased to 20.1 billion rubles, while accounts payable dropped to 6.46 billion rubles. (Ukrainian metal)

Russia: Polyarnaya to get 270 kg of gold

The Polyarnaya artel plans to obtain 250-270 kg of alluvial gold in Chukotka this season. “We haven’t started operations yet, as the snow covers the sites, and there is no water. Sand washing will start in June. We expect the growth of output at the level of 30-50 kg”, the company chief geologist Ananiy Solomchuk…

Ukraine: scrap deliveries improve

In April Ukrainian metal companies received 290 thousand tons of scrap, up by 25 thousand tons MoM, or 95% of the need. In January-April metallurgists received 1 million tons of scrap, up by 15% YoY, and 82% of the need. Scrap stocks at metal companies in April increased by 20 thousand tons, to 115 thousand…

Kazakhstan prohibits scrap exports

Kazakhstan has imposed a 6-months prohibition on ferrous scrap and waste exports. The corresponding Ministry of investments and development decree comes into effect 10 days after its official printing, or from May 27. The goal of this action is to support the local metal industry. On August 1, 2016 Kazakhstan already imposed a 6-months prohibition…

Ukraine: China interested in modernizing state coalmines

China-based Sany Heavy Industry has shown interest in the modernization of Ukrainian state-owned coalmines with the high degree of machinery and equipment wear and tear, according to the Ukrainian Energy and Coal Industry Ministry’s website. “Chinese companies have shown interest in upgrading Ukrainian coal enterprises. During a visit to China, representatives of Ukraine’s Energy and…