Ukraine: state mines on Donbass cut off grid

The state enterprise Regional Power Grid has cut electricity supplies to the mines of Mirnogradugol, Selidovugol, Lisichanskugol, Pervomayskugol and Toretskugol. According to Mikhail Volynets, the chairman of the Independent Miners’ Union of Ukraine, state mines of Chervonograd and Volyn were also left without electricity. At present the union is taking actions to restore power supply…

Russia: MMK sales up in Q1 2018

In January-March MMK sold 2.828 million tons of metal, up by 10.5% YoY. The share of the high added value products reached 47.6%, or 1.345 million tons (+10.3%). Sales to domestic market increased by 16.5%, to 2.225 million tons, or 78.6%. The company produced 2.4 million tons of pig iron and 3.147 million tons of…

Ukraine: Deposit Guarantee Fund sells Donetskstal assets

The Individual Deposit Guarantee Fund has signed an agreement to sell Donetskstal assets.

According to the fund statement, the assets include the building of a cinema, a culture house and the manufacturing machinery, pledged to the now bankrupt Delta-bank.

The lot was sold for 331 million UAH. (Ukrainian metal)

Ukraine: Zaporozhkoks net profit up in 2017

In 2017 Zaporozhkoks increased net profit 2.9-fold YoY, to 1.058 billion UAH. According to the company statement, the undistributed profit as of last year totaled 2.3556 billion UAH. Current liabilities grew 2.7-fold, to 5.338 billion UAH, while fixed – by 20%, to 219.912 million UAH. The combined debt of the company increased 2.5-fold, to 6.039…

Russia: MMK-Metiz income up in 2017

In 2017 MMK-Metiz increased metal output by 7% YoY, to 437.9 thousand tons.

According to the company statement, sales revenue grew by 23.9%, to 20.4 billion rubles.

Ordinary wire accounted for 36% of the revenue, ordinary fasteners – 12% and powder wire and ropes – 10% each. (Ukrainian metal)

Ukraine: Corum Group to make excavations at Pokrovskoye Mine Group

Corum Group has concluded an agreement with Donetskstal to construct excavations at the Pokrovskoye Mine Group.

According to the company statement, the commissioning is scheduled for 2018-2019.

The company will construct two excavations – ventilation and conveyer drifts with the combined length of 2700 meters. (Ukrainian metal)

Russia: Novelis to stop buying aluminum from RUSAL

Novelis, the world’s biggest producer of rolled aluminum products, will no longer purchase metal produced by Russian aluminum giant UC RUSAL to comply with U.S. sanctions. The company said that it could reduce its dependence on aluminum purchases from RUSAL. “Accordingly, we are confident that the risk for any material disruption in production will be…

Russia: aluminum exports up in January-February 2018

In January-February Russia exported 639.4 thousand tons of raw aluminum valued at $1261 million, up by 49.2% and by 91% YoY respectively.

In February the average price was $1952 per ton, up by 25% YoY. (Ukrainian metal)

Russia: copper exports up in January-February 2018

In January-February Russia exported 152.6 thousand tons of primary copper valued at $1051 million, up by 23.1% and by 51.6% YoY respectively.

In February the average price was $6932 per ton of primary copper, up by 22.81% YoY.

The price of copper wire rod was $6785 per ton, up by 25.4%. (Ukrainian metal)

Ukraine: Metinvest GOKs to pay 4.86 billion UAH of dividends

Shareholders of three mining and processing works belonging to Metinvest intend to spend the combined amount of 4.86 billion UAH to pay dividends for 2017. The corresponding decisions are included in the agenda of the shareholder meetings scheduled for May 18. In particular, Severniy Mining and Processing Works plans to spend 2.16 billion UAH of…