Russia: Kola modernizes warehouses

The Monchegorsk site of the Kola Iron and Steel Works, a part of Norilsk Nickel, has finished the modernization of the bulk machinery warehouse. The warehouse with the size of 2.5 thousand square meters saw the replacement of walls and roof, new lighting system assembly, as well as the disassembly of old racks, which were…

Russia: TMK increasing pipe prices

The Pipe Metallurgical Company has announced the increase of all of its Russian division pipe product prices by 5% from March 1. The increase will affect all categories of consumers. The main reason for the price increase is the growth of raw materials cost and other industrial expenses in H2 2016, which affected the prime…

Russia: MMK to raise July-December 2016 dividends

Russia’s Magnitogorsk Iron and Steel Works may allocate 60% of its free cash flow on dividends for July-December 2016, the company said in a statement. “On the back of strong profitability and lower debt load, the company’s management decided to recommend that the board of directors pay dividends representing 60% of free cash flow for…