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…
In June Ukraine produced 5812.6 thousand tons of iron ore raw materials, down by 263.8 thousand tons MoM. The average daily output dropped by 8.4 thousand tons, to 125.6 thousand tons. In January-June Ukraine produced 35 million tons of iron ore raw materials, down by 2 million tons YoY. Deliveries of local raw materials to…
In May Metinvest increased its EBITDA by 13.24% MoM, to $154 million, having increased its earnings by 22.22%, to $737 million. According to the group report, in May it sold 262 thousand tons of semi-finished products valued at $109 million, and 425 thousand tons of other metal valued at $719 million. As well as 74…
On July 26 the ArcelorMittal Kriviy Rih miners, employees and the union representatives went on a strike with a number of demands, the main being the salary of 1 thousand euro. According to the miners (some hundred of them), the company management refuses to cooperate with them and react to their demands. They believe that…
In January-June Cherepovets Iron and Steel Works produced 2.228 billion kW-h of electricity, up by 0.5% YoY, and the highest result in all its history. The economical effect from the increase of electricity manufacture reached 66.4 million rubles. The share of the company’s own electricity totaled 79.4%, up by 0.8% YoY. (Ukrainian metal)