Russia: NLMK steel output to fall in 2019

Russian steelmaker Novolipetsk Steel (NLMK) plans to reduce steel production to about 16 million tons in 2019 from 17.493 million tons in 2018, President Grigory Fedorishin announced. “The amount of steel production will fall at the Lipetsk facility because a big blast furnace and a big converter will shut down for repairs. We intentionally united…

Russia: BrAZ profit up in Q1 2019

In January-March, the net profit of Rusal Bratsk Aluminum Works increased 1.9-fold YoY, to 1.344 billion rubles. Revenue grew by 7.4%, to 27.214 billion rubles, and gross profit – by 9.7%, to 2.619 billion rubles. Other income increased 5.5-fold, to 570.3 million rubles, while other expenses dropped 2.8-fold, to 42.5 million rubles. (Ukrainian metal)

Russia: MMSK replaces filter equipment

Mednogorsk Copper-Sulfur Works has carried out a project to replace filter equipment. New Shandong Jingjin Environmetal Protection Equipment Co. Ltd filter-presses have been assembled at the dust-processing site of the sulfur acid shop. Investments reached 41.2 million rubles. The filtration area of the new equipment is almost twice larger – 240 square meters. (Ukrainian metal)

Russia: NLMK places $500-million 7-year Eurobonds

NLMK announced the placement of 7-year $500-million Eurobonds with an annual coupon rate of 4.7% payable semi-annually. The proceeds will be used for general corporate purposes. The issue was oversubscribed more than three-fold with the order book exceeding $1.7 billion at the peak and more than 150 investors. The final order book was subscribed by…