Russia: Mechel losses up in January-September 2017

In January-September the net losses of Mechel doubled YoY, to 11.71 billion rubles.

Revenue dropped 2.2-fold, to 5.12 billion rubles, gross profit decreased 5.2-fold, to 2.19 billion rubles.

Sales profits fell 9.5-fold, to 1.06 billion rubles.

In H1 Mechel net profit decreased by 40% YoY, to 4.994 billion rubles. (Ukrainian metal)

Russia: Zyuzin sells a piece of Mechel for debts

The Zyuzins family decreased their consolidated share in Mechel from 55.04% to 50.1%, having given 4.93% to Veriotex Holdings Limited as a repayment of the debt. At present Igor Zyuzin owns 26.47% of the company, a part of which is owned through Calridge Ltd. “In October Calridge transferred 20.534 million shares as debt settlement”, the…

Russia: Mechel-Materials increases refractories output

Mechel-Materials has started producing refractories of higher strength. These products are used for lining of heating units at metal and machine-building works. The Mechel-Materials bricks are made of high-aluminous raw materials, thus having the higher content of aluminum oxide, which provides for higher heat-resistance and lower thermal conduction. The first batches of new products have…

Russia: Mechel-Service sales up in January-July

In January-July Mechel-Service increased metal sales from warehouses by 2% YoY. “In 7 months of 2016 we shipped 852 thousand tons of products, this year – 871 thousand tons. Our sales network has expanded: we have opened a site in Biysk. Soon our subsidiaries will appear in Izhevsk and Volgograd”, the company CEO Leonid Polyansky…

Russia: Mechel coal output down in H1 2017

In January-June Mechel mined 10.331 million tons of coal, down by 10% YoY. According to the group statement, steel output in 6 months increased by 5%, to 2.22 million tons, pig iron remained almost flat YoY, at 2.04 million tons. In Q2 Mechel decreased coke sales by 9% because of unstable market situation. “The metal…

Russia: Mechel IFRS net profit down in H1 2017

The net profit of Russian metals and mining group Mechel, attributable to shareholders, fell by 40% YoY, to 4.994 billion rubles in January-June, as calculated under International Financial Reporting Standards (IFRS), the company said on August 23. The entire profit fell by 38%, to 5.682 billion rubles. EBITDA grew by 56%, to 40.227 billion rubles,…

Russia: Mechel-Service supplies rebars for navy base construction

Mechel-Service has supplied 500 tons of rebars for the construction and modernization of the Novorossiysk military-navy base.

According to the company statement, the rebars for the new base have been manufactured at Chelyabinsk Iron and Steel Works. (Ukrainian metal)

Russia: Mechel-Coke shut down

The Chelyabinsk regional environment supervision service has cancelled the license for polluting the air, given to Mechel-Coke in March 2016. The license has been cancelled because of the company regularly exceeding the pollution quota. Mechel-Coke provides some 46% of industrial pollution in the city of Chelyabinsk, or 100 thousand tons. In the past 12 months…

Russia: Mechel steel output up in Q1 2017

In January-March Mechel increased steel output by 8% YoY, to 1.121 million tons. According to the company statement, pig iron output went up by 4%, to 1.046 million tons, flat rolled metal manufacture increased by 20%, to 153 thousand tons, bars – dropped by 4%, to 705 thousand tons. The production of beams, rails and…