Ukraine: DTEK production indicators for Q1 2016

In January-March DTEK companies produced 7.2 million tons of coal (up by 5.8% YoY), generated 9.8 billion kWh of electricity (down by 10.9%), transmitted 12.1 billion kWh of electricity via networks (down by 0.5%) and produced 381.1 million cubic meters of natural gas (up by 47.7%). “Recently, the progress of the energy sector reforms has…

Russia: Mechel announces change in management

Mechel reports that its chief financial officer Andrey Slivchenko is leaving the company following the completion of his two-year contract. “We are deeply grateful to Andrey Slivchenko for his huge contribution into our efforts on stabilizing the company’s financial situation. Andrey joined our team at a very complicated time and has well discharged the duties…

Metals of Ukraine & Russia: hot-rolled coils, April 2016

Month

Ukrainian market, $/t, without VAT, EXW, $1/UAH25.1865*

min

max

March

251

316

April

282

377

* – Ukrainian Hrivna and Russian Rouble exchange rates are as of 30.04.16 according to the National Bank of Ukraine and the Central Bank of the Russian Federation. (Ukrainian Metal)

Ukraine: energy ministry to increase coal price

The Ministry of energy and coal industry head Igor Nasalik says coal price can still grow. “Coal price should meet European price. We seek to increase the price”, he said. According to him, the coal industry is suffering from the lack of financing. The ministry is working on state subsidies, management quality increase, but still…

Ukraine: Zaporizhstal passes standardization

Zaporizhstal has successfully passed power management system resertification audit to meet ISO 50001:2011. The audit was carried out by the Technical and management services company, a partner of TUV SUD. The auditors have marked the high level of power management and prolonged the certificate for 3 years. For the past three years Zaporizhstal was able…

Russia: Fitch revises MMK’s outlook to positive

Magnitogorsk Iron & Steel Works (MMK) is pleased to announce that on May 23, the rating agency Fitch Ratings revised the outlook on its long-term issuer default rating (IDR) to positive from stable and affirmed the IDR at ‘BB+’. In its press-release Fitch notes that the positive outlook reflects MMK’s strong financial performance which allowed…

Ukraine: Severstal-Metiz CEO becomes Dneprometiz chairman

Supervisory board of Dneprometiz has appointed Anatoly Frishman, CEO of Severstal-Metiz (Russia), its chairman.

Frishman has been appointed until the next annual meeting of the shareholders.

Chief accountant deputy of the company Lilia Dubovichenko has been appointed chairman of the revision committee. (Ukrainian metal)

Russia: Kola abandons outdated raw material preparation technology

Kola (subsidiary of Norilsk Nickel) has decommissioned the pelletizing and roasting sector (PRS), in effect abandoning the obsolete technology used since 1960s and shifting to copper-nickel concentrate briquetting. Kola completed this work in line with Metallurgical production facilities revamping program, specifically to improve the company’s environmental performance. The shutdown of the roasting area required major…