Russia: Evraz declares record-high profit in H1 2018

Net profit of Evraz in January-June grew to $1.145 billion from $86 million in H1 2017.

Free money flow increased from $549 million to $661 million, while the debt dropped by $646 million, to $4.786 billion.

Consolidated EBITDA went up by 65.5%, to $1.906 billion. (Ukrainian metal)

Russia: Evraz steel output down in H1 2018

Steel production of the U.K.-based mining giant Evraz, which operates mainly in Russia, shrank by 2.3% YoY, to 6.832 million tons in January-June, the company said in a statement on July 26. Cast iron production fell by 7.7%, to 5.252 million tons in the period. In April-June the company’s steel output fell by 3.9% QoQ,…

Russia: Evraz continues selling slabs to US

Evraz still supplies slabs to the United States, despite the duty of 25%. According to the Evraz vice president on finances Nikolay Ivanov, “on one hand, the products sold to the US became more expensive, while on the other, because of the duty, as expected, domestic prices have grown“. “So we are still supplying slabs…

Russia: Evraz output down in Q1 2018

The consolidated steel output of Evraz in January-March dropped by 5.5% QoQ, to 3.3 million tons, mostly because of the decrease in pig iron production. Coking coal manufacture increased by 6.7%, to 6 million tons, thanks to the completion of works at the Alardinskaya and Uskovskaya mines’ long faces. Steel sales fell by 5.7%, including…

Russia: Evraz Ukraine head transferred to Ural

Denis Novozhenov, who headed Evraz Ukraine, was appointed the director of the Ural division. “The division unites Nizhniy Tagil Iron and Steel Works and Kachkanarsky Mining and Processing Works. Novozhenov will continue developing Evraz assets in Sverdlovsk region according to the group strategy”, the company said. Novozhenov has been working at Evraz since 1996. This…

Russia: Evraz borrows $300 million from Alfa-bank

Alfa-bank has provided Evraz with the loan of $300 million.

The loan has been given for 5 years, according to the bank statement.

“The borrowed funds were used to clear existing debts”, the bank noted.

The interest rate is not disclosed. (Ukrainian metal)

Russia: Evraz profits in 2017

In 2017 Evraz received $759 million of net profit as opposed to $188 million of losses in 2016. According to the company statement, its consolidated EBITDA grew by 70.2% YoY, to $2.624 billion. Revenue increased by 40.4%, to $10.827 billion. “The board of directors, on the basis of strong financial conditions of the company and…

Russia: Evraz retains control over Sibuglemet

Evraz has won the VEB competition to manage Sibuglemet. According to the sources, the new management contract was concluded on “the same conditions” (Evraz has been managing the asset since 2015), but details were not disclosed. Sibuglemet capacity is 5 million tons of coking coal per year. Its reserves are estimated at 300 million tons.…

Russia: Evraz steel output up in 2017

In 2017 Evraz increased steel output by 3.8% YoY, to 14.033 million tons. According to the company statement, in Q4 2017 steel manufacture grew by 1.4% QoQ, to 3.546 million tons. Semi-finished products output increased by 6.5% YoY, to 5.519 million tons, while that of construction rolled metal dropped by 7.9%, to 3.139 million tons.…

Russia: Evraz to improve Abagurskaya Factory output

The Abagurskaya Processing Factory of Evrazruda has started the project to increase the milling site output. Four ball mills will be replaced with more efficient ones, and another mill will be added. Assembly work will end in summer 2018. Investments will total 140 million rubles. Modernization will increase the milling of the primary concentrate by…

Russia: Evraz accused of wheel price increase

The Federal Antimonopoly Service found out that in 2013-2015 Evraz set the profitability of 1058 mm wheel manufacture 4 times higher as that on the market. According to FAS, Evraz occupies the “dominating position on the Russian railroad wheels market” and has violated the law on competitiveness protection. In the past 5 years Evraz share…

Russia: Evraz commissions new long face at Alardinskaya mine

Evraz has put a new long face 3-38 in operation at its Alardinskaya mine.

The face reserves are some 2.8 million tons of coking coal.

The mining is carried out at the depth of 240 meters. Until December 2018 the miners intend to extract around 240 thousand tons of coal per month. (Ukrainian metal)

Russia: Evraz steel output up in Q3 2017

In Q3 Evraz produced 3.506 million tons of steel, up by 5.9% QoQ. “The consolidated steel output grew, first of all, because of the completion of the scheduled repairs of the oxygen-converter shop at Evraz DMZ (Ukraine)”, the group noted. Semi-finished products output reached 3.121 million tons, up by 4.4% QoQ. In Q4 Evraz expects…