Russia: CherMK electricity output up in 2018

In 2018 Cherepovets Iron and Steel Works increased electricity output by 2.8% YoY, to 4.565 billion kWh.

According to Severstal Russian Steel CEO Vadim Germanov, this allowed saving some 200.4 million rubles.

The share of the company’s own electricity reached 77.9% of the total consumption. (Ukrainian metal)

Ukraine: Metipol resumes operation

In May Metipol LLC will put into operation a plant to produce polymer-coated rolled metal in the city of Pervomaisk. This means that the Alchevsk-based Metal and Polymers Works will resume operation on Ukraine-controlled territory. As raw materials Turkish galvanized coils will be used, The annual capacity of the enterprise will be 78 thousand tons…

Ukraine: metal makers expecting import duties on Russian and Chinese galvanized metal

Ukrainian manufacturers of galvanized rolled metal await the implementation of the preliminary protective measures on the import of these products from China and Russia. According to the executive director of the Ukrainian Center of Steel Construction, Vyacheslav Kolesnik, in August-September 2018 the imports of Chinese galvanized metal reached their peak, but after that dropped sharply.…

Russia: MMK revenue down in Q4 2018

In Q4 2018 MMK revenue decreased by 6.2% QoQ, to $1962 million. EBITDA fell by 20%, and the margin was 27.4%. Net profit totaled $245 million. In 2018 revenue increased by 8.9% YoY, to $8214 million, mostly because of the average price growth (by 8% or by $46 per ton). EBITDA went up by 19%,…

Russia: gold ingots to be exempt of VAT

The Ministry of Finances proposes canceling VAT on gold in ingots, as investment in precious metals is a good way for accumulation. Now people have to pay a 20% VAT when buying ingots from banks. While when selling ingots, the VAT is not returned, which makes purchase less attractive. Hence the low demand – some…

Russia: Ufaleinickel to be auctioned

An expert commission has finished evaluating the assets of Ufaleinickel.

The company went bankrupt some 18 months ago.

The auction could be held in summer.

The combined cost of the lots is around 1 billion rubles.

Two investors are already mulling the purchase of the works. (Ukrainian metal)

Russia: NLMK-Kaluga masters new product manufacture

NLMK-Kaluga has started producing a new type of metal for construction – 100 mm-long channels with parallel sides.

A batch of 3 thousand tons has been shipped to customers in the Central Federal District.

Imports in the segment in 2018 reached 32%, up by 6% YoY. (Ukrainian metal)

Russia: ChTPZ lends 1.1 billion rubles to its scrap procurer

Chelyabinsk Pipe Rolling Plant has provided a loan of 1.14 billion rubles to a company it controls – Meta.

The agreement was signed on February 5.

The funds have to be returned not later than on June 30, 2020.

Meta provides ChTPZ with scrap. (Ukrainian metal)

Russia: NLMK sales up in 2018

In 2018, demand for steel continued to recover, coupled with a rise in protectionism in key markets. “In this context, NLMK Group’s flexible business model that helped it secure its presence in key sales markets, enabled the company to grow its sales by 7% YoY, or by 1.1 million tons, to 17.6 million tons, hitting…