Russia: 300 thousand tons of scrap exported to Turkey in June 2018

According to Turkish Statistical Institute (TUIK), in January-June Turkey increased scrap imports by 15.8% YoY, to 10.77 million tons.

In particular, Russia increased deliveries by 60%, to 1.33 million tons.

In June scrap imports from Russia grew by 66.1%, to 299.165 thousand tons. (Ukrainian metal)

Ukraine: Metinvest gets Pokrovskoye Mine Group

Metinvest has indirectly become a shareholder in the Pokrovskoye Mine Group, the largest coking coal manufacturer in Ukraine.

Since Q2 2017, 57.29% of Pokrovskoye have been transferred from Donetskstal to Industrial Coal Holding LLC (ICH).

At present Metinvest B. V. holds 24.99% in ICH. (Ukrainian metal)

Ukraine: miners demand energy minister fired

The representatives of several state coal enterprises have started a meeting near the Ministry of energy and coal industry demanding their salary debts to be cleared and the coal industry reanimated. According to them, the document signed by the energy minister Igor Nasalik on the clearing of the 1.5-billion UAH debt to state miners is…

Russia: Karelsky Okatysh buys new locomotive

Karelsky Okatysh Mining and Processing Works has purchased a new locomotive.

The machine, manufactured by Bryansk Machine-Building Works, will be able to save fuel expenses by 10% due to a special diesel engine.

The investment program of the company presupposes further purchases of such locomotives to replace old ones. (Ukrainian metal)

Russia: Uralelectromed non-ferrous metals alloys subsidiary to increase repair capacities

The Uralelectromed subsidiary – Manufacture of non-ferrous metals alloys – is finishing the reconstruction of the repair shop. The work started back in 2016. Not only premises, but also machinery undergoes repair and replacement. As the result of the reconstruction the shop capacities will increase, and the product range will expand. Labor conditions are expected…

Ukraine: Ferrexpo profit down in H1 2018

In January-June Ferrexpo decreased net profit by 29.6% YoY, to $152 million. According to the group statement, revenue grew by 4.4%, to $617 million. EBITDA dropped by 18.5%, to $234 million. Net debt as of June 30 decreased to $368 million from $394 million as of December 31, 2017. Sales volumes dropped to 4.798 million…

Ukraine: UGOK output down in July 2018

In July Yuzhniy Mining and Processing Works produced 1044.4 thousand tons of concentrate, down by 0.7% YoY. According to the company statement, sinter output dropped by 63%, to 56.5 thousand tons. In January-July UGOK produced 7104.6 thousand tons of concentrate and 951.1 thousand tons of sinter, all down by 0.4% and by 9% YoY respectively.…

Russia: MMK net profit up in H1 2018

In January-June MMK net profit increased by 24.7% YoY, to $671 million. Revenue grew by 16%, to $4.16 billion. EBITDA went up by 33.4%, to $1.21 billion. The group debts as of late June totaled $521 million. “The high financial results allowed the Board of directors to recommend paying $281 million of dividends for Q2”,…