Russia: OEMK produces 70 million tons of metallized pellets

Oskol Electrometallurgical Works has produced the 70-millionth ton of metallized pellets. In December 2018 the pelletizing and metallizing shop, recently reorganized into the pelletizing and metallizing factory, turned 35. In 2010 the company modernized its metallizing machine No. 1. In 2013 the metallizing machine No. 3 was put into operation. In 2015 the metallizing machine…

Ukraine: Metipol resumes operation

In May Metipol LLC will put into operation a plant to produce polymer-coated rolled metal in the city of Pervomaisk. This means that the Alchevsk-based Metal and Polymers Works will resume operation on Ukraine-controlled territory. As raw materials Turkish galvanized coils will be used, The annual capacity of the enterprise will be 78 thousand tons…

Ukraine: metal makers expecting import duties on Russian and Chinese galvanized metal

Ukrainian manufacturers of galvanized rolled metal await the implementation of the preliminary protective measures on the import of these products from China and Russia. According to the executive director of the Ukrainian Center of Steel Construction, Vyacheslav Kolesnik, in August-September 2018 the imports of Chinese galvanized metal reached their peak, but after that dropped sharply.…

Russia: MMK revenue down in Q4 2018

In Q4 2018 MMK revenue decreased by 6.2% QoQ, to $1962 million. EBITDA fell by 20%, and the margin was 27.4%. Net profit totaled $245 million. In 2018 revenue increased by 8.9% YoY, to $8214 million, mostly because of the average price growth (by 8% or by $46 per ton). EBITDA went up by 19%,…

Russia: gold ingots to be exempt of VAT

The Ministry of Finances proposes canceling VAT on gold in ingots, as investment in precious metals is a good way for accumulation. Now people have to pay a 20% VAT when buying ingots from banks. While when selling ingots, the VAT is not returned, which makes purchase less attractive. Hence the low demand – some…