The situation on steel product markets in 2019 was rather challenging. H2 2019 saw prices fall below the cycle average. “The dive was so deep, we estimate that 80% of global HRC production was loss-making. The margins in the sector were further pressured by increasing prices for raw materials”, NLMK Group CFO Shamil Kurmashov commented.…
At a meeting held on February 12, NLMK Group’s Board of Directors recommended the company’s shareholders to approve Q4 2019 dividend of 5.16 rubles per share. Taking into account dividends accrued in Q1-Q3 2019, 2019 dividends will total 19.4 rubles per share, which is approximately 120% of NLMK Group’s free cash flow for the relevant…
Social standards of ArcelorMittal Kriviy Rih are one of the highest in mining and metallurgical industry of Ukraine. Last year, social expenses of the company amounted to UAH 432.4 million. Traditionally, the most considerable part of funds, namely UAH 179.7 million, was allocated for rest and health improvement in 2019. Last summer almost 11 thousand…
Russian silver and gold producer Polymetal has raised ore reserves of its Kutyn field more than 2-fold, to 812,000 ounces of gold under the JORC code, the company said in a statement on February 12. “The updated JORC-compliant open-pit ore reserves estimate as of October 1, 2019 comprises 8.4 million tons of ore with an…
Russian steelmaker Novolipetsk Steel expects its facilities at the Lipetsk site to raise steel production quarter-on-quarter in January-March to maintain year ago levels, the company said in a statement on February 12. “We expect to increase steel manufacturing at the Lipetsk site to the level of the same period of the previous year as capital…
The state defense concern Ukroboronprom (UOP) has started optimizing scrap sales and has already discussed the problematic issues with major customers and procuring companies. UOP intends to inventory and evaluate the scrap sources. So far the enterprise can name neither the volumes of scrap, nor the structure of stocks. This issue will be cleared in…
Salary debts to Lvivugol miners have amounted to 350 million UAH, and all over Ukraine – 1.35 billion UAH. At the same time, in late December 2019 money from state budget was already provided to clear debts. President of Ukraine has visited a mine in Chervonograd. But the miners were not able to provide the…
In 2019 Interpipe sold 798 thousand tons of metal products, down by 7% YoY. Exports accounted for 76%, while domestic sales dropped from 28% to 24%. Pipe sales decreased by 11%, to 595 thousand tons, mostly due to a drop on the global market in H2 2019. Deliveries of pipes to Ukrainian companies went down…
