Ukraine: Metinvest successfully completes largest ever refinancing by Ukrainian corporate

Metinvest, the vertically integrated steel and mining group of companies, has announced the completion of the refinancing of its $2.271-million debt, consisting of the issuance of two tranches of bonds and the amendment and restatement of its pre-export finance (PXF) facility. As a result, Metinvest issued $1.592 million in new bonds and secured $765 million…

Ukraine: Antimonopoly Committee prohibits Metinvest from buying Dneprodzerzhinsk Coke

Metinvest intends soon to eliminate all the claims from the Antimonopoly Committee of Ukraine to purchase Dneprodzerzhinsk By-Product Coke Plant. “We’re preparing an offer to the Committee, which will satisfy them and allow us getting the green light to buy the plant”, Metinvest CEO Yuri Ryzhenkov said. The official refuse was received in March. “There…

Russia: ChMK produces rebars for the first private zoological garden

Chelyabinsk Iron and Steel Works rolled metal is used to construct the open-air cages in the first private zoological garden in Russia in the city of Nizhny Novgorod.

In particular, ChMK rebars are used when constructing the cage with the pool for the polar bear.

Rolled metal was supplied by Mechel-Service. (Ukrainian metal)

Russia: NLMK revenue down in Q1 2018

NLMK Group revenue in Q1 declined by 1%, to $2.79 billion, but grew by 30% YoY, due to a seasonal drop in sales (-5% QoQ), which was offset by the growth in prices. EBITDA grew to $812 million (+3% QoQ), driven by the growth in steel prices and new operational efficiency programs. Q1 free cash…

Russia: NMZ modernizing slurry site in copper electrolysis shop

Novgorodsky Iron and Steel Works has put into operation a new Diemme filter-press within the modernization program of the slurry site of the copper electrolysis shop hydrometallurgical department.

The machinery allowed automating the process of electrolyte purification of slurry.

The cost of the new machinery is some 6 million rubles. (Ukrainian metal)

Russia: Krasniy Octyabr and ZEMZ developing cooperation

Since April Krasniy Octyabr Volgograd Iron and Steel Works has started receiving the billets for rerolling from Zlatoust Electrometallurgical Works.

This will allow the sheet-rolling shop of VMK to quickly and in full provide for fulfilling orders.

In January-February Krasniy Octyabr received some 600 tons of slabs from ZEMZ. (Ukrainian metal)

Russia: VIZ-Stal sales up in Q1 2018

In January-March VIZ-Stal increased metal output by 10% YoY, to 43 thousand tons. The company capacities were 99% loaded. Transformer steel sales grew by 13%, to 41 thousand tons. The positive dynamics has to do with the growth of the world demand for transformer steel. Exports accounted for 80% of sales. The key destinations were…

Russia: Rusal to fire 10-15% of employees

Following the US sanctions, as early as in June Rusal could decrease the number of its employees at Bratsk and Irkutsk Aluminum Works by 10-15%. This will happen if the company fails to sell in China all the aluminum previously exported to other destinations. The main sales markets for Rusal are EU (45%), while US,…

Ukraine: PGOK profits in 2017

In 2017 Poltava Mining and Processing Works received the consolidated net profit of 4.27 billion UAH as opposed to the consolidated net loss of 40.44 million UAH in 2016. According to the company statement, its EBITDA last year grew 16-fold, to 6.04 billion UAH from 377.42 million UAH in 2016. The net income increased by…