In Q2 revenue grew by 18% QoQ, to $2.54 billion, driven by a 14% QoQ increase in sales and an improvement in the product mix (a 20% growth of finished product sales), against the backdrop of a fall in steel product prices. Q2 EBITDA eased by 2% (growth by 31% YoY), to $603 million following…
The core owner of Russia’s Chelyabinsk Pipe-Rolling Plant (ChelPipe), Mountrise Limited, may buy a 49.89% stake of state-owned nanotechnology company Rusnano in Eterno, a white metallurgy joint venture with the plant, Rusnano said in a statement on July 26. The deal may be closed by the end of September. “Rusnano has completely fulfilled the task…
The country’s third largest city Sumgayit will be the home to a huge metallurgical complex to be jointly built by Azerbaijan and Italy. The agreement signed between Baku Steel Company and Italian company Danieli in December 2016 will allow the country to save millions of dollars it spends on import and create opportunity for opening…
Coke coal output of the Russian coal and iron ore maker Industrial Metallurgical Holding (IMH) decreased by 3% YoY, to 1.338 million tons in January-June, the company said in a statement on July 26. Cast iron production grew by 3%, to 1.163 million tons and iron ore output rose by 3%, to 2.581 million tons.…
Severstal management has reviewed the sum of possible claims from tax service and decreased it 50-fold. As of December 31, 2016 the possible tax claims were estimated at $400 million. In April it became known that the company had been able to decrease the claims almost 3-fold, to $132 million. According to the latest information…
In January-June, according to railroad statistics, the delivery (including imports) of metal products for construction to the trade networks and direct supplies from metal companies to construction enterprises decreased by 3.6% YoY. Bars constituted 43.5% of all deliveries, having increased by 0.2% YoY. Roof steel totaled 8.8%, down by 17.5%. Shaped sections (beams, channel, angles)…
Korolevsky Pipe Works is expanding the geography of its presence on the Russian market by opening a warehouse in St. Petersburg. The opening of the new site will decrease logistics expenses of buyers from the North-West of the country, while the broad range of products and good location of the warehouse will make the purchase…
The Demidov Group of Companies has increased the prices of its products by 3-8%. The highest growth was in the segment of thin-walled section pipes (1-1.5 mm wall thickness). According to the company statement, the price increase has to do with the high demand, low stocks and the sharp rise of hot-rolled metal prices at…
