Russia: Karabashmed modernizing sulfur acid shop

Karabashmed has started assembling metal structures and sites needed to operate four new moist electric filters in the sulfur acid shop.

The assembly will last for a month.

The electric filters will be commissioned in June. (Ukrainian metal)

Russia: UEM improves efficiency of copper powder manufacture

The Uralelectromed powder shop has received a new Gecam mill.

The mill processes the surface of wares made of copper powder.

Previously wares were treated manually. The machine will do it 3-4 times faster and is expected to process some 20 to 30 thousand spare parts per month. (Ukrainian metal)

Ukraine: scrap export duty increased

Verkhovna Rada has approved as a whole the decree to decrease the ferrous scrap shortage on the domestic market by increasing the scrap export duty from 42 euro to 48 euro per ton and prolonging it for three years. 234 members of the Parliament voted in favor of the decree. This is the third decree.…

Russia: TMK Q4 2018 IFRS EBITDA up

Earnings before interest, taxes, depreciation and amortization (EBITDA) of pipe producer TMK increased by 9% QoQ, to $179 million, while revenue grew by 5%, to $1.264 billion in October-December 2018, as calculated under International Financial Reporting Standards. The gross profit rose by 1%, to $224 million, while the EBITDA margin remained unchanged at 14%, it…

Russia: MMK metal shipments to TMK up in 2018

The meeting of the coordinating council of Magnitogorsk Iron and Steel Works (MMK) and TMK was held in Magnitogorsk. The representatives of both companies reviewed their joint work in 2018 and discussed future collaboration. According to the results of 2018, 504,600 tons of MMK’s flat steel products were shipped to TMK’s pipe mill. This represents…

Russia: MMK Group spending on social programs up in 2018

In 2018, MMK Group’s financial contributions to charitable causes and new social programs increased by 11% YoY, reaching nearly 2.5 billion rubles. MMK allocated over 1.6 billion rubles to charitable and social projects. A key aspect of MMK’s and the group subsidiaries’ social programs is the encouragement of social activities aimed at improving the health…