Ukraine: Fitch upgrades Ferrexpo to “B”

Fitch Ratings has upgraded Ukraine-based Ferrexpo Plc’s Long-Term Issuer Default Rating (IDR) to “B” from “B-”, reads a report on the rating agency’s website. “The outlook on the IDR is positive. In addition, Ferrexpo’s senior unsecured ratings have been upgraded to “B” from “B-”. The Recovery Rating is unchanged at “RR4”,” the report says. “The…

Russia: Polyus sets dividend minimum

Polyus, the largest gold-extracting company in Russia, has changed its dividend policy. The company Board of directors has approved the change of the dividend policy having set the minimum annual size of dividends for 2017 and 2018 on the level of $550 million. Thus, the amount of dividends for the corresponding period will total 30%…

Russia: high-strength Ural Steel rolled steel meets Russian Maritime Register of Shipping certification requirements

Ural Steel (a part of Metalloinvest) has received a certificate confirming the compliance of its heavy plate made from high-strength steel grades. This opens up new opportunities for the company in the production of high-quality rolled steel products for shipbuilding and expanding its sales market. Earlier, Ural Steel confirmed the compliance with RMRS of its…

Ukraine: gas consumption by metal companies up in 2017

In December 2017 Ukrainian metal works consumed 190 million cubic meters of natural gas, up by 15% MoM.

In 12 moths gas consumption grew by 3%, to 1.8 billion cubic meters.

Electricity consumption dropped by 11%, to 11.5 billion kW-h. (Ukrainian metal)

Russia: Electrozinc starts modernizing cooling stack

Electrozinc has started modernizing the cooling stack of the steam-power shop.

The modernization is supposed to improve efficiency of maintenance and decrease energy expenses.

It is expected that the cooling stack will resume operation in May.

Investments total around 50 million rubles. (Ukrainian metal)

Russia: CherMK commissions first industrial 3D-printer

Severstal has commissioned the first industrial 3D-printer at Cherepovets Iron and Steel Works.

Investments totaled 4.3 million rubles.

With the help of the printer the machine-building shop will produce molds for cast parts. The printer is expected to produce around one third of all molds. It takes 16 hours to print one mold. (Ukrainian metal)

Russia: Evraz steel output up in 2017

In 2017 Evraz increased steel output by 3.8% YoY, to 14.033 million tons. According to the company statement, in Q4 2017 steel manufacture grew by 1.4% QoQ, to 3.546 million tons. Semi-finished products output increased by 6.5% YoY, to 5.519 million tons, while that of construction rolled metal dropped by 7.9%, to 3.139 million tons.…

Russia: MMK to reconstruct oldest blast furnace

Magnitogorsk Iron and Steel Works is reconstructing its oldest blast furnace No. 1, commissioned in 1932.

The project presupposes the reconstruction of the foundry yards of the BF1, the capacity of which is 1.25 million tons of pig iron per year, and the volume – 1370 cubic meters. (Ukrainian metal)

Kazakhstan: gold output up in 2017

In 2017 Kazakhstan produced 85029 kg of gold, up by 13.8% YoY.

According to the Ministry of the national economy, silver output dropped by 10.8%, to 1058605 kg. (Ukrainian metal)

Russia: Mechel borrows 1.44 billion rubles from ChMK

Mechel has concluded an agreement on borrowing 1.44 billion rubles from Chelyabinsk Iron and Steel Works.

The agreement was signed on January 15 and is valid through October 1, 2022.

The interest rate on the loan is not revealed. (Ukrainian metal)

Ukraine: Dneprometiz to increase output in 2018

In 2017 Dneprometiz operation was stable, according to the company CEO Alexander Yakovlev.

Last year the company produced and sold over 85 thousand tons of metal wares. EBITDA totaled $3 million.

This year the company intends to increase output to 90 thousand tons.

EBITDA is expected to grow to 90 million UAH. (Ukrainian metal)