Russia: ferrosilicon output down in 2016

In 2016 Russia produced 941 thousand tons of ferrosilicon, down by 11% YoY.

According to the Federal Service of State Statistics, in December 2016 ferrosilicon output totaled 95.4 thousand tons, up by 15.7% YoY and by 144.9% MoM. (Ukrainian metal)

Russia: BoAZ and SFMZ fined

The Federal Service of ecological, technical and nuclear supervision has fined Boguchansk Aluminum Works and Sorsk Ferromolybdenum Works. BoAZ was checked on November 28 – December 23, 2016 and fined for 40 thousand rubles for illegal construction of heating power plants. While SFMZ was accused of violations of the waterworks safety operation, and fined for…

Ukraine: Interpipe sales down in 2016

In 2016 Interpipe sold 572 thousand tons of products, down by 5% YoY. According to the company statement, pipe sales dropped by 10%, while wheel sales went up by 22%. The export share in sales reached 75%. Interpipe sold 458 thousand tons of pipes in 2016. Ukraine and Europe saw the highest growth in consumption.…

Russia: Rusal completes debut Eurobond offering

Rusal has completed the debut offering of Eurobond with the following key terms: principal amount of $600 million, tenor 5 years, coupon rate 5.125% per annum. The bond proceeds will be used to refinance some of Rusal’s existing pre-export finance facility and improve the company debt maturity profile. «The company received very strong demand for…

Russia: TMK SPO bid book oversubscribed

The bid book for the secondary public offering of Russian oil and gas pipe producer TMK was oversubscribed under the current guidance range, a banking source reported. The company guided investors for a pre-market placement price of 74.5 rubles per security. The bid book will be closed at 7.00 p.m. Moscow time on February 7,…

Ukraine: Mariupol Ilyich invests 1.6 billion UAH into modernization

In 2016 Mariupol Ilyich Iron and Steel Works spent 1.647 billion UAH on its technical modernization. Strategic investment projects cost the company 894 million UAH. “That’s the reconstruction of the gas-purifying equipment in the sintering factory (259 million UAH) and the second converter (136 million UAH), overhaul of the blast furnace No. 4 (334 million…

Russia: Severstal financial results for 2016

Severstal has announced its financial results for the 2016. According to its press release, Severstal’s revenue decreased by 7.5% YoY, to $5,916 million, primarily reflecting a substantial decline in average steel selling prices at the beginning of 2016, as a result of the net decline in global benchmarks and a marginal decline in sales volumes.…

Russia: MMK celebrates 85th anniversary

OJSC Magnitogorsk Iron and Steel Works celebrates the 85th anniversary of the launch of its Magnitogorsk mill. On February 1, 1932 the mill’s first blast furnace produced its first batch of pig iron. This date has come to be celebrated as marking the launch of MMK – one of the largest metal facilities in Russia…

Tajikistan to increase aluminum output in 2017

The Minister of Economic Development and Trade Nematullo Hikmatullozoda reported that Tajikistan planned to increase production of primary aluminum by 40% this year. “We plan to increase the volume of aluminum production to 179,000 tons this year,” the minister said. “Of course, it will depend on prices and demand for aluminum. If demand for aluminum…