NLMK Group has begun commercial operation of a hydrogen unit that generates hydrogen from natural gas through vapor reforming at VIZ-Steel in Yekaterinburg, where hi-tech transformer (grain-oriented) steel is produced. This project will provide a three-fold reduction in the cost of hydrogen production. The new technology, which replaces expensive electrolysis, requires 30 times less energy…
At a meeting held on August 12, NLMK Group’s Board of Directors recommended NLMK shareholders to approve of payment of Q2 dividends at the upcoming Extraordinary General Shareholder Meeting (EGM) to be held on September 30. NLMK Group’s Board of Directors recommended NLMK shareholders to approve of Q2 dividends of 6,473 million RUB, or 1.08…
International rating agency S&P Global Ratings has upgraded the long-term credit rating of NLMK Group, an international steel company with operations in Russia, the United States, and the European Union, from BВ+ to investment grade ВВВ- with a negative outlook. The national scale rating on NLMK liabilities was upgraded from ruAA+ to ruAAA. In an…
The European Union has imposed 5 years antidumping duties on cold-rolled metal from Russia. The sanctions have affected the largest Russian metal companies: Severstal, Magnitogorsk and Novolipetsk Iron and Steel Works. The lowest duty is imposed for MMK – 18.7%. Severstal received 34%, while NLMK – 36.1%. The reason for the investigation was the complaint…
NLMK Group announced its Q2 and H1 2016 financial results. In Q2, steelmaking capacity utilization rates reached 100% (94% in Q1 2016). EBITDA increased by 59% QoQ to $460 million; EBITDA margin reached 25% (+7% QoQ). Net debt / EBITDA stood at 0.7. Q2 2016 highlights: steel output increased by 6% QoQ, to 4.2 million…
NSMMZ (Nizhniye Sergi), a key company in NLMK group’s long products division which operates from three production sites in Sverdlovsk region in the Urals, has been renamed NLMK Ural. The company adopted a new charter and registered the change of name with the Inspectorate of the Tax Service of Russia #30 for Sverdlovsk region. The…
NLMK Group has started hot testing two high-pressure grinding rollers at section 4 of Stoilensky’s beneficiation plant. The new process will now cover 50% of Stoilensky’s grinding capacity. High pressure grinding roller (HPGR) technology is new to the Russian market. Stoilensky was the first to commission HPGR units. These will enable a 10% increase in…
NLMK Kaluga, a new generation EAF plant (part of NLMK Long Products) that manufactures a wide range of long products and sections used in construction, has produced its two millionth ton of finished steel. The mill produced its three millionth ton of crude steel in its EAF shop earlier in June. The plant uses its…