Ukraine: Electrostal resumes operation

In March Electrostal (Kurakhovo, Donetsk region) resumed operation having produced 11 thousand tons of continuous cast billet. In January-March the enterprise was idle, while in Q1 2018 it produced 71 thousand tons of billets. The reason for the company downtime was the growth of ferrous scrap prices, which made billets manufacture unprofitable. In 2018 Electrostal…

Russia: Ukrainian pipe imports prohibited

Russia has prohibited imports of some types of pipes from Ukraine. In particular, the prohibition covers seamless pipes, tubes and hollow sections, made of ferrous metals, except for pig iron, including of corrosion-resistant steel, round pipes of iron or unalloyed steel, as well as square and rectangular pipes. Moreover, the import of some types of…

Russia: Petropavlovsk to sell IRC

Gazprombank is looking for a strategic investor for the gold-extracting company Petropavlovsk to buy a share in IRC. According to a major Petropavlovsk shareholder Kenes Rakishev, who owns 22.42% in the company, a major steel company could be such an investor. He didn’t give any names though. At the same time the sale will be…