Russia: Mechel IFRS net profit up in Q3 2018

The net profit attributable to shareholders of Russian metals and mining group Mechel soared to 6.304 billion rubles in July-September, as calculated under International Financial Reporting Standards (IFRS). Revenue fell by 3% QoQ, to 79.965 billion rubles, while earnings before interest, taxes, depreciation, and amortization (EBITDA) decreased by 17%, to 19.206 billion rubles. In January-September…

Russia: Metalloinvest profit up in January-September 2018

In January-September Metalloinvest increased net profit by 14.3% YoY, to $1.245 billion.

Revenue grew by 17.3%, to $5.342 billion and EBITDA – by 41.4%, to $2.183 billion.

The net debt/EBITDA ratio decreased to 1.3x from 1.9x as of December 31, 2017.

Capital expenses dropped to $320 million from $335 million. (Ukrainian metal)

Ukraine: pipe output up in January-October 2018

In January-October Ukraine increased output of ferrous pipes by 7.6% YoY, to 941.6 thousand tons, including 97.5 thousand tons produced in October. Ukrtruboprom association enterprises produced 677.8 thousand tons of pipes, up by 16.7% (68.3 thousand tons in October). Khartsyzsk Pipe Works, situated on the Russian terrorists-controlled lands, was idle. Interpipe-NTZ produced 240.9 thousand tons…

Russia: CherMK repairs blast furnace No. 2

Cherepovets Iron and Steel Works has commissioned the blast furnace No. 2 after capital repairs.

Investments in the repair totaled 1.3 billion rubles.

The repair will ensure stable operation of the blast furnace in the next 10 years.

The repair work lasted for 37 days. Some 280 specialists worked there daily. (Ukrainian metal)

Russia: ZSMK sales down in October 2018

In October ZSMK shipped 439.3 thousand tons of metal via railroad, down by 22.4% YoY.

In 10 months sales grew by 1.2%, to 5.22 million tons.

Domestic customers received 1.62 million tons, down by 6.4%, while exports grew by 5.1%, to 3.6 million tons. (Ukrainian metal)

Russia: ChMK sales down in October 2018

In October Chelyabinsk Iron and Steel Works decreased sales by 7.9% YoY, to 234.8 thousand tons.

According to the railroad statistics, in January-October it sold 2.63 million tons of metal, down by 3.5% YoY.

Domestic customers received 2.26 million tons, down by 6.2% YoY, and foreign – 370 thousand tons, up by 17.1%. (Ukrainian metal)

Ukraine: pellets exports in January-October 2018

In January-October Ferrexpo exported 8.41 million tons of iron ore pellets. In particular, Poltava GOK exported 6.3 million tons of pellets and Yeristovo GOK – 2.11 million tons. Metinvest exported 4.44 million tons of pellets, with 1.925 million tons exported by CGOK and 2.516 million tons by SevGOK. Karelsky Okatysh (Russia) shipped 4.438 million tons…

Kazakhstan: Fincraft Resources gets 22% in Petropavlovsk

The mining-metallurgical company Fincraft Resources has concluded a deal to consolidate 22% of Petropavlovsk plc shares by buying Fincraft Holdings Ltd.

The amount of the deal is not disclosed.

Fincraft Holdings Ltd (Cyprus) bought 22.42% in Petropavlovsk in late 2017. (Ukrainian metal)

Russia: Khiagda modernizing transport fleet

Khiagda has received new KamAZ shift automobiles. They will be used to transport employees from the settlement to the industrial objects and deposits. To carry out repair works at pipelines, assemble and disassemble pumps and for loading and unloading the company has bought an Ivanovets truck crane. Next year Khiagda will continue replacing its old…

Russia: Severstal buys Yakovlevsky GOK shares

Severstal has purchased 100% of Yakovlevsky Mining and Processing Works shares for 7.89 billion rubles. Their major part was received as part of the debt payment from Metal-group LLC. In July 2017 Severstal bought out the LLC debt to Gazprom. In 2018 Metal-group was declared bankrupt. Severstal will continue developing Yakovlevsky GOK. This year ore…