Russia: Severstal’s IFRS net profit down in H1 2019

The net profit of the Russian steelmaker Severstal fell by 11.3% YoY, to $903 million in January-June, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement. Revenue shrank by 5.1%, to $4.208 billion in the period, earnings before interest, taxes, depreciation and amortization (EBITDA) decreased by 10.4%, to $1.416 billion.…

Russia: MMK steel output down in Q2 2019

Russian steelmaker Magnitogorsk Iron and Steel Works (MMK) reduced its steel output by 0.5% QoQ, to 3.091 million tons in April-June, while cast iron production rose by 2.3%, to 2.452 million tons, the company said in a statement. In January-June it raised its steel production by 0.4% YoY, to 6.198 million tons. Cast iron production…

Ukraine: coke output down in H1 2019

In January-June Ukraine manufactured 5.189 million tons of metallurgical coke, down by 3.3% YoY. In particular, in June plants produced 769 thousand tons of coke and in May – 917 thousand tons. The decrease in manufacture is due to the drop of coking coal supplies from Russia. Moreover, some metal works shut down their capacities…

Russia: Zoloto Timptona to get 60 kg of gold

Zoloto Timptona LLC, developing alluvial gold sites in the Republic of Sakha (Yakutia), intends this season to obtain 60 kg of the precious metal. The Utanakh and Berezoviy brooks will yield 35 kg of gold. This year the company will also start developing deposits at the Troitskiy and Innokentievskiy sites. Zoloto Timptona is developing the…