Russia: steel output down in Q1 2019

In January-March, Russia decreased production of unalloyed steel and semi-finished products by 0.2% YoY. In March the output totaled 4.8 million tons, down by 7.4% YoY and by 0.1% MoM. According to the Federal Service of State Statistics, stainless steel manufacture dropped by 14.3% YoY, but grew by 13.4% MoM, to 14.3 thousand tons. In…

Ukraine: Makeevkoks elects supervisory board

Shareholders of Makeevkoks, situated on the Ukraine-uncontrolled territory, refreshed the supervisory board, by removing two of its members, as well as changing the auditor. The decisions were taken at the shareholders’ meeting on April 18. In particular, the shareholders have re-elected Igor Nadych and Olga Vinogorodskaya as members of the supervisory board for three years,…

Russia: Korshunovsky GOK net profit up in Q1 2019

In January-March, Korshunovsky Mining and Processing Works received 1.227 billion rubles of net profit, up 5.7-fold YoY. Revenue grew 2.2-fold, to 3.675 billion rubles. The GOK fixed liabilities decreased from 352.6 million rubles to 337.8 million rubles, while short-term liabilities grew from 2.047 billion rubles to 2.053 billion rubles. Gross profit increased 18.5-fold, to 1.572…