Russia: Amurstal looking for federal subsidy

TOREX, owner of Amurstal in Komsomolsk-on-Amur, hopes to get a subsidy from the federal budget. The Ministry of industry and trade intends to provide major enterprises with support. The company plans to spend money to clear interest rate on loans, thus decreasing them by 4.5%. At present the ministry is choosing companies to participate in…

Russia: RUSAL and Braidy Industries to construct a greenfield aluminum rolling mill in Kentucky

RUSAL and Braidy Industries Inc., a US-based holding company which owns both Veloxint, an MIT-incubated lightweighting solutions company, and NanoAl, a Northwestern University incubated materials research and technology company, announced an intent to establish a joint project in Ashland, Kentucky, USA to produce flat rolled aluminum products for the US automotive industry. The design capacity…

Russia: NLMK shareholders approve FY2018 dividends

At the Annual General Shareholders’ Meeting (AGM) held on April 19, NLMK shareholders approved the payment of FY2018 dividends of 22.81 rubles per share, or 102% of the company’s free cash flow according to NLMK Group’s consolidated statements prepared in accordance with IFRS. Considering the previously paid interim dividends, the amount outstanding to be paid…

Russia: NLMK shareholders elect new BoD

At the Annual General Shareholders’ Meeting (AGM) held on April 19, NLMK shareholders voted to confirm Grigory Fedorishin as the group’s President and Chief Executive Officer; and to elect a new Board of Directors, with a majority of independent directors (five seats out of nine). Nine members of the Board of Directors were elected: Vladimir…

Ukraine: AMKU allows Metinvest to buy Dneprovsky Coke Plant

The Antimonopoly Committee of Ukraine has allowed Metinvest to buy over 50% shares of Dneprovsky By-Product Coke Plant. In particular, the AMKU decision says that Private Limited Liability Company Metinvest BV, the Netherlands, has been granted the right to purchase shares of the Dneprovsky Coke Plant, as a result of which the share of the…

Ukraine: Ukrkoks sees no threat in Russian sanctions

The mining and metallurgical complex of Ukraine expects no critical consequences from the new limitations of coal supplies to Ukraine, as well as imports of some metal products, including pipes. According to Ukrkoks CEO Anatoliy Starovoyt, limitations cover power-generating coal in the first place, and not coking coal. “So we see no special problem here.…

Russia: Kuzbass coal output up in Q1 2019

Since the start of the year, Kuzbass coal companies have extracted 60.8 million tons of coal, up by 1.2 million tons YoY. Open pits yielded 40.2 million tons, and mines – 20.6 million tons. Coking coal accounted for 19.2 million tons, and power-generating coal – 41.6 million tons. In March the region extracted 21.3 million…

Russia: ChMK produces rebars for Abakan lyceum construction

Chelyabinsk Iron and Steel Works has produced for the construction of a lyceum for 1,000 pupils in the town of Abakan.

The size of the building will be 23.3 thousand square meters.

ChMK rebars are characterized by high quality. They are widely used in construction. (Ukrainian metal)

Russia: Electrocable output up in Q1 2019

In January-March, Electrocable increased output by 30% YoY, to 156 thousand km of cable and wire.

The increase in the output is mostly due to modernization and new machinery purchase last year.

Thus, in 2018 the company modernized 5 manufacturing lines in the shop No. 5. (Ukrainian metal)

Ukraine: Electrostal resumes operation

In March Electrostal (Kurakhovo, Donetsk region) resumed operation having produced 11 thousand tons of continuous cast billet. In January-March the enterprise was idle, while in Q1 2018 it produced 71 thousand tons of billets. The reason for the company downtime was the growth of ferrous scrap prices, which made billets manufacture unprofitable. In 2018 Electrostal…

Russia: Ukrainian pipe imports prohibited

Russia has prohibited imports of some types of pipes from Ukraine. In particular, the prohibition covers seamless pipes, tubes and hollow sections, made of ferrous metals, except for pig iron, including of corrosion-resistant steel, round pipes of iron or unalloyed steel, as well as square and rectangular pipes. Moreover, the import of some types of…