Russia: MMK prolongs Globaltrans transportation contract

The railroad operator Globaltrans has prolonged the contract on the transportation of MMK products for another 8 months.

“In early 2018 the long-term partnership with MMK was prolonged till late September 2020”, the company said.

The previous contract was valid until late February and presupposed the transportation of some 80% of MMK goods. (Ukrainian metal)

Russia: Severstal gets first order for SeverFarm

Severstal has presented a new product for the construction of industrial and agriculture objects – SeverFarm. And has already received the first order. SeverFarm is the galvanized rolled metal with special coating resistant to bio- and chemically aggressive environment. The company suggests using SeverFarm for the construction and repair of poultry farms, animal husbandry complexes,…

Russia: Antimonopoly Service to check precious metals and iron ore markets

The Federal Antimonopoly Service intends to have analyzed the competitiveness on the markets of gold and platinum by August.

According to the service deputy director on industry control management Mariya Babikova, another analysis will be carried out on the silver and iron ore concentrate markets.

She did not name the timeframe though. (Ukrainian metal)

Ukraine: Makeevkoks turns to losses in 2017

In 2017 Makeevkoks received 698.63 million UAH of losses as opposed to 6.76 million UAH of profit in 2016. According to the company statement, its uncovered losses totaled 543.49 million UAH. Consolidated accounts receivable dropped by 0.2%, to 249.03 million UAH, fixed liabilities – by 0.8%, to 8.06 million UAH, while its current liabilities grew…

Russia: MMK-Metiz net profits up in 2017

In 2017 MMK-Metiz increased net profits 3.4-fold, to 1.26 billion rubles, In Q4 2017 the company received 170.8 million rubles of profits, down from 393 million rubles in Q3 2017. In Q4 2017 MMK-Metiz sold 5.28 billion rubles worth of metal wares, down by 5% QoQ. Consolidated revenue in 2017 totaled 20.456 billion rubles, up…

Ukraine: scrap prices to drop

The state enterprise Ukrpromvneshexpertisa forecasts that by mid-April the price of ferrous metals scrap will drop by 3.5%, to some 8.3 thousand UAH per ton, compared with late March. According to the company deputy director Yuri Dobrovolski, the drop will have to do with the downgrading trends on the world markets, as well as the…

Georgia: one dead in mining accident

A miner died last night during underground works in Shukruti mine in the village of Chiatura – a city in the western Georgian region of Imereti. The mining accident claimed the life of 45-year-old Zaza Abramishvili at around 3 am. Georgian American Alloys, the company responsible for the mine, said in a statement that part…

Russia: Metalloinvest and KamAZ expand strategic partnership in SBQ deliveries

Oskol Electrometallurgical Works, a part of Metalloinvest, hosted a meeting of Metalloinvest commercial director Nazim Efendiyev and KamAZ deputy sales general director Rustam Shamsutdinov. The parties agreed on improving the efficiency in the supply of high quality rolled steel (SBQ), including creating the stocks and switching to electronic workflow. In 2017 OEMK supplied almost 50…

Latvia: Liepājas metalurgs buyer – owner of Russian Krasniy Octyabr?

Smart Stahl GmbH (Austria) has purchased the movable property of the Liepājas metalurgs rolling shop. But it is believed that Dmitry Gerasimenko, owner of the Volgograd-based Krasniy Octyabr (Russia) could be behind the deal. He is a full owner of the Cyprus-based Segoa Ventures Limited, which owns Smart Stahl, created in April 2017. The sum…

Ukraine: Dneprometiz net profit up in 2017

In 2017 Dneprometiz increased its net profit by 79% YoY, to 58.292 million UAH. According to the company statement, its assets as of the end of 2017 totaled 714.885 million UAH, current liabilities – 533.483 million UAH and consolidated accounts receivable – 153.327 million UAH. In 2016 Dneprometiz received 34.73 million UAH of profit, as…