Russia: Mechel revenue down in Q3 2019

In July-September Mechel received 74.9 billion rubles of revenue, down by 5% QoQ and by 6% YoY. In 9 months revenue decreased by 4% YoY, to 228.2 billion rubles. EBITDA in Q3 dropped by 9% QoQ and by 29% YoY, to 15 billion rubles. Losses accountable to the shareholders in July-September amounted to 571 million…

Ukraine: Metinvest cuts working hours at Mariupol plants

Azovstal and Mariupol Ilyich Iron and Steel Works are transferring their employees from order-free departments to decreased working week. The administrative employees and manufacturing workers will now have a working week of 32 hours. The order is valid until March 31, 2020. Moreover, the business trips are suspended and the employees will not receive premiums.…

Russia: law enforcers search Amurstal plant of Torex

Law enforcers have searched steel plant Amurstal, owned by Torex Group’s subsidiary Torex-Khabarovsk, a spokesperson for the plant reported. A source in the law enforcement authorities of the Khabarovsk region said that investigative activities were held at the Torex offices in the region without disclosing the reason for searches. “The law enforcers were actually here…