Russia: PMH revenue up in 2018

In 2018 PMH consolidated revenue exceeded 89 billion rubles, up by 5% YoY. The prime cost of products sold totaled 64.4 billion rubles, up by 12%. Gross profit dropped by 10%. EBITDA was 19.3 billion rubles, almost flat YoY. Net profit decreased by 83%, to 1.3 billion rubles, mostly due to currency exchange rate difference.…

Russia: NLMK chooses 10 startup projects

NLMK participated in the Skolkovo Startup demo-day in Lipetsk as part of the Open Innovations Startup Tour. The tour aims at finding new promising projects. At the preliminary stage NLMK representatives have reviewed 40 projects in the sphere of metallurgy, energy, repair and HR. Leaders of the best projects have been invited to Lipetsk. In…

Russia: Mechel increases coke exports to Turkey

Mechel has signed an agreement to supply metallurgical coke to Kayseri Sugar, the largest sugar producer in Turkey. According to the agreement, Mechel will have to deliver up to 90 thousand tons of coke in 2019-2021 (some 30 thousand tons each summer). The price will be determined during negotiations. “Turkey is one the priority export…

Uzbekistan: coal output down in Q1 2019

In January-March, Uzbekistan decreased gold output by 25% YoY, to 809 thousand tons.

According to the state statistics, in Q1 2018, 1087 thousand tons of coal were mined.

In December 2018, 45% of Uzbekugol were transferred to the management of Progress Gor Tech LLC (Russia). (Ukrainian metal)

Russia: TVEL and Hermith to set up titanium JV

Russian state nuclear corporation Rosatom’s fuel company TVEL has signed a cooperation agreement with German titanium supplier Hermith to create a joint venture for manufacture of titanium products with a high added value, TVEL said.   The venture will sell its products to aviation, car, and pharmaceutical companies, TVEL said, adding that the agreement also…

Ukraine: Mariupol Ilyich awarded for labor potential development

Mariupol Ilyich Iron and Steel Works has been awarded for the development of the labor potential.

The plant was awarded at the XI forum of the Employers Association.

Avdiivka Coke and Chemical Works was awarded in the category “Despite crisis”. (Ukrainian metal)

Russia: Korshunovsky GOK profit up in Q1 2019

In January-May, Korshunovsky Mining and Processing Works received 1.227 billion rubles of net profit, up 5.7-fold YoY. Revenue grew 2.2-fold, to 3.675 billion rubles. Gross profit increased 18.5-fold, to 1.572 billion rubles. Fixed liabilities dropped from 352.6 million rubles as of December 31, 2018, to 337.8 million rubles, while current liabilities grew from 2.047 billion…

Russia: Metalloinvest elects new board of directors

Metalloinvest has elected a new board of directors. In particular, the board now features Ivan Streshensky (chairman), Andrey Varichev, executive director, Vakhtang Kocharov, executive director, Pavel Mitrofanov, non-executive director, Gleb Kostikov, non-executive director, Irina Lupicheva, non-executive director, Valeriy Kazikayev, independent non-executive director, Galina Aglyamova, independent non-executive director, and Dmitry Tarasov, independent director. Vakhtang Kocharov has…

Russia: Trubodetal commissions line to apply silicate-enamel coating

Trubodetal has successfully mastered the manufacture of pipeline joint parts with silicate-enamel coating.

Such joints can withstand high temperature and their service life is 50 years.

Pipes and joints with silicate-enamel coating are used to transport oil with high hydrogen sulfide content. (Ukrainian metal)

Russia: MMK output down in Q1 2019

In January-March, MMK decreased steel output by 1.3% YoY and by 0.2% QoQ, to 3.107 million tons. Pig iron manufacture decreased by 0.3% YoY and by 6.3% QoQ, to 2.396 million tons. Sales dropped to 2.782 million tons, by 5.2% QoQ and by 1.6% YoY. High added value products sales in Q1 remained almost on…

Ukraine: AMKR provides 10 million UAH for reconstruction of the parkway along Metalurgiv Avenue

Several days ago, contractual organizations started the reconstruction process of the parkway along Metalurgiv Avenue, from the intersection of Sobornosti Str. and Metalurgiv Avenue to the intersection of the avenue and Vadima Hurova Str. Yurii Vilkul, Kriviy Rih Mayor, representatives of the contractual organizations, and Yuliia Chermazovich, Head of the Charitable Foundation of ArcelorMittal Kriviy…