Russia: Mechel orders 15 BelAZs

Mechel has concluded an agreement with BelAZ on the delivery of 15 quarry dump trucks with the combined cost of 2 billion rubles. The new machines with the lifting capacity of 130 to 220 tons will arrive at Mechel enterprises in Kemerovo and Irkutsk regions: 11 BelAZs will be operating at the Yuzhniy Kuzbass pits,…

Russia: MMK offers $500-million 5-year Eurobonds

Magnitogorsk Iron and Steel Works (MMK) has opened a bidding book for $500-million 5-year Eurobonds with a yield guidance of 4.75% annually, a banking source reported.

The company has been holding meetings with investors in Moscow, European and U.S. cities since May 30.

Citi, J.P. Morgan and Societe Generale are the organizers. (Prime/Ukrainian metal)

Russia: scrap exports to be quoted

The Ministry of industry and trade has prepared suggestions on quoting steel scrap exports by regions. “We are reviewing various mechanics to satisfy scrap demand in the country. We have prepared suggestions on quoting the export of scrap”, the deputy minister Victor Yevtukhov said. Various quote indexes are provided for different districts and regions. “Where…

Russia: Electrozinc fires 1128 employees

According to the agreement on the shut down of the machinery, on May 31, Electrozinc cancelled labor agreements with 1128 employees.

In particular, 271 people resigned due to retirement, while 82 left they job upon the agreement between the parties.

All the employees received compensations. (Ukrainian metal)