Ukraine: Moody’s improves Ferrexpo ratings

The international ratings agency Moody’s Investors Service has changed its outlook on Ferrexpo plc rating from stable to positive. At the same time the Ferrexpo Group of Companies corporate rating has been confirmed on the B3 level and the default rating on B3-PD. The change follows the amendment of the Ukrainian government rating from stable…

Ukraine: scrap procurement to drop in 2019

This year the scrap procurement in Ukraine is expected to fall to 3.1 million tons. According to the UAvtormet Association, in January-November 2.8 million tons of scrap were procured, down by 14.6% YoY. Scrap deliveries to metal companies dropped by 6.9%, to 2.8 million tons. Exports in 11 months fell by 87.2%, to 40.9 thousand…

Ukraine: Ukrzaliznytsia scrap sales inefficient

The current regulations do not allow Ukrzaliznystia to efficiently operate on the scrap market. “The scrap prices change very quickly. We cannot catch up with them with the current regulations”, the company director on legal issues and property policy Arthur Reznik declared. “According to our calculations, it takes us 3.5 months to start the selling…