The bar rolling shop No. 2 of the Uzbekistan Iron and Steel Works is finishing the project to organize manufacture of carbon steel rolled wire. The main machinery has already been assembled at the mill-300. Commissioning is scheduled for April 15. As the result of the project the company will be able to produce rolled…
In February Zaporizhstal increased steel output by 3.7% YoY, to 329.7 thousand tons. Pig iron manufacture grew by 0.7%, to 360.9 thousand tons. At the same time the rolled metal output dropped by 3.5%, to 277 thousand tons. In January-February steel production went up by 0.4% YoY, pig iron dropped by 2.9% and rolled metal…
The prices of gold and silver decreased in Azerbaijan on March 1. The price of gold dropped by 9.571 manats, to 2,232.5505 manats per ounce compared to the price on February 28. The price of silver fell by 0.2674 manats, to 26.5122 manats per ounce. At the same time the price of platinum grew by…
In 2018, the total financial benefit of the introduction of innovation suggestions at the Magnitogorsk Iron and Steel Works (MMK) amounted to 453.6 million rubles. Last year, MMK’s expert commission considered 5,792 proposals, of which 3,872 (66.8%) were selected as innovative ideas to be implemented. Traditionally, most of the ideas submitted addressed the issues of…
Earnings before interest, taxes, depreciation and amortization (EBITDA) of pipe producer TMK increased by 9% QoQ, to $179 million, while revenue grew by 5%, to $1.264 billion in October-December 2018, as calculated under International Financial Reporting Standards. The gross profit rose by 1%, to $224 million, while the EBITDA margin remained unchanged at 14%, it…
The meeting of the coordinating council of Magnitogorsk Iron and Steel Works (MMK) and TMK was held in Magnitogorsk. The representatives of both companies reviewed their joint work in 2018 and discussed future collaboration. According to the results of 2018, 504,600 tons of MMK’s flat steel products were shipped to TMK’s pipe mill. This represents…
Thailand has lifted a special protective duty it imposed on imports of Russian alloyed hot-rolled steel, the Economic Development Ministry said. “Alloyed hot-rolled steel from Russia now has access to the Thai markets. The kingdom has submitted a notification on conclusion of revision of the protective measures to the World Trade Organization,” the statement read.…
In 2018, MMK Group’s financial contributions to charitable causes and new social programs increased by 11% YoY, reaching nearly 2.5 billion rubles. MMK allocated over 1.6 billion rubles to charitable and social projects. A key aspect of MMK’s and the group subsidiaries’ social programs is the encouragement of social activities aimed at improving the health…
