Russia: NLMK VP dies in Moscow

NLMK Group reports the tragic death of Dr. Bruno de Cooman, NLMK Group Vice President for Research and Development, on August 29 in Moscow. “Bruno De Cooman’s death is an enormous loss for the group and the entire sector, for his friends and family. He has made an invaluable contribution to the development of global…

Russia: VSMPO-Avisma IFRS net profit up in H1 2018

The net profit of VSMPO-Avisma grew by 40% YoY, to $167.58 million in January-June, as calculated under International Financial Reporting Standards (IFRS), the company said.

Revenue increased by 3.3%, to $786.08 million.

Earnings before interest, taxes, depreciation and amortization (EBITDA) decreased by 6.1%, to $317.52 million. (Prime/Ukrainian metal)

Uzbekistan: Uzmetkombinat launches production of ferroalloys

On August 29 the Uzbekistan Iron and Steel Works launched a workshop for the production of ferroalloys. The launch ceremony was attended by the President Shavkat Mirziyoyev, employees of the enterprise, representatives of the government of Uzbekistan and foreign investors. The cost of the implemented project is $60 million, the workshop is equipped with up-to-date…

Armenia: Armenal operating in stable mode

Lately a number of Armenian and Azerbaijani media reported on possible “mass firings” at Rusal Armenal because the US sanctions affected foil exports. The company is the largest producer and exporter of aluminum foil. “The works is operating in stable mode. No mass firings are in question. The information appearing in some media is false”,…

Tajikistan: coal output up in 2018

As of August 24, 988 thousand tons of coal have been produced, up by 67 thousand tons YoY. According to the Ministry of industry and new technologies, this year Tajikistan intends to produce 1.9 million tons of coal. The country has 14 coal deposits. Coal exports so far have reached 27 thousand tons valued at…

Ukraine: AMKR to submit more than 1000 computers to the schools

Charity fund of PJSC ArcelorMittal Kriviy Rih submitted 220 PCs to 13 schools and the Center for Children’s Social and Physiological Rehabilitation of Saksaganskyi district. The certificates for computer hardware were presented to the school directors in the administration of Saksaganskyi district. To improve facilities of the schools of Kriviy Rih, to make training of…

Ukraine: VostGOK profit down in H1 2018

In January-June the state enterprise Vostochniy Mining and Processing Works received 13.36 million UAH of net profit, down 16.9-fold YoY. According to the company statement, its net income dropped by 23.2%, to 1.2 billion UAH. Gross profit decreased 2.5-fold, to 170.35 million UAH. Last year VostGOK received 388.94 million UAH of net profit, down by…

Russia: primary aluminum processing to increase

The Ministry of Industry and Trade believes that the world market has started suffering from the aluminum shortage. “The world shortage of aluminum amounts to 1.5 to 2 million tons per year, and we expect aluminum consumption, processing and production to increase”, the ministry head Denis Manturov said. Last year Russia implemented a program to…

Russia: ore transportation up in 2018

Iron ore transportation in July reached the record-high level in the past 15 years at 10.1 million tons, up by 9.8% YoY.

Since the start of the year railroads have transported 67.1 million tons of ore, up by 5.1% YoY.

Local transportation increased by 11%, while exports remained flat. (Ukrainian metal)

Ukraine: Ferrexpo to increase loan of 2017

Ferrexpo Plc. can increase the size of the pre-export financing of 2017 from $195 million to $500 million, postponing the payment from 3 to 4 years. According to the draft decision of the extraordinary shareholders meeting of Poltava Mining and Processing Works scheduled for September 17, amendments will be made to the loan agreement of…

Russia: corrosion-resistant pipes imports from Kazakhstan up in H1 2018

In January-June Russia imported 15.2 thousand tons of seamless corrosion-resistant steel pipes from Kazakhstan, up 50-fold YoY.

Moreover the result of the whole 2017 has been exceeded 4.5-fold.

Kazakhstan accounts for some 60% of all Russian imports of these products.

Pipes for oil and gas pipelines represent the major part of imports. (Ukrainian metal)

Ukraine: Belozerskoye Mine Group commissions new long face

The Belozerskoye Mine Group (Donetsk region) has put into operation the 5th northern long face at the Novodonetskaya mine.

The coal reserves total 2 million tons.

The face will provide miners with enough work for the next 18 months.

The length of the face is 300 meters. (Ukrainian metal)

Russia: Sortstal going bankrupt

The Arbitrary court of Sverdlovsk region will consider the claim of Sortstal on being declared bankrupt.

The court received the relevant document on August 24.

According to it, the volume of claims is 49.87 million rubles.

Sortstal was registered in 2004. Its main activities were wholesale of fuel, ore and chemical materials. (Ukrainian metal)

Russia: pig iron exports up in H1 2018

In January-June Russia exported 3.3 million tons of pig iron, up by 34.6% YoY, valued at $1106 million, up by 48.6%. According to the customs statistics, US imported the most pig iron (51.4%, up by 6.1%). Hong Kong started importing Russian pig iron in late 2017 and in 6 months purchased 478 thousand tons. Italy…