The metal companies of the South of Russia have addressed the federal authorities asking them to impose an environment tax on scrap exports. They believe this idea does not contradict the WTO norms and will have a triple positive effect: it will support local scrap processors, bring additional money to the regions and will help…Details
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Chelyabinsk Iron and Steel Works has finished the capital repairs of its blast furnace No. 1. According to the company statement, its blast furnace shop includes 3 furnaces with the combined capacity of 3.5 million tons of pig iron per year. In Q1 ChMK received 950.3 million rubles of net profits, up 2.3-fold YoY, having…Details
In Q2 revenue grew by 18% QoQ, to $2.54 billion, driven by a 14% QoQ increase in sales and an improvement in the product mix (a 20% growth of finished product sales), against the backdrop of a fall in steel product prices. Q2 EBITDA eased by 2% (growth by 31% YoY), to $603 million following…Details
The core owner of Russia’s Chelyabinsk Pipe-Rolling Plant (ChelPipe), Mountrise Limited, may buy a 49.89% stake of state-owned nanotechnology company Rusnano in Eterno, a white metallurgy joint venture with the plant, Rusnano said in a statement on July 26. The deal may be closed by the end of September. “Rusnano has completely fulfilled the task…Details
The country’s third largest city Sumgayit will be the home to a huge metallurgical complex to be jointly built by Azerbaijan and Italy. The agreement signed between Baku Steel Company and Italian company Danieli in December 2016 will allow the country to save millions of dollars it spends on import and create opportunity for opening…Details
Coke coal output of the Russian coal and iron ore maker Industrial Metallurgical Holding (IMH) decreased by 3% YoY, to 1.338 million tons in January-June, the company said in a statement on July 26. Cast iron production grew by 3%, to 1.163 million tons and iron ore output rose by 3%, to 2.581 million tons.…Details
Severstal management has reviewed the sum of possible claims from tax service and decreased it 50-fold. As of December 31, 2016 the possible tax claims were estimated at $400 million. In April it became known that the company had been able to decrease the claims almost 3-fold, to $132 million. According to the latest information…Details
In January-June, according to railroad statistics, the delivery (including imports) of metal products for construction to the trade networks and direct supplies from metal companies to construction enterprises decreased by 3.6% YoY. Bars constituted 43.5% of all deliveries, having increased by 0.2% YoY. Roof steel totaled 8.8%, down by 17.5%. Shaped sections (beams, channel, angles)…Details
Korolevsky Pipe Works is expanding the geography of its presence on the Russian market by opening a warehouse in St. Petersburg. The opening of the new site will decrease logistics expenses of buyers from the North-West of the country, while the broad range of products and good location of the warehouse will make the purchase…Details
The Demidov Group of Companies has increased the prices of its products by 3-8%. The highest growth was in the segment of thin-walled section pipes (1-1.5 mm wall thickness). According to the company statement, the price increase has to do with the high demand, low stocks and the sharp rise of hot-rolled metal prices at…Details
In June Ukraine produced 5812.6 thousand tons of iron ore raw materials, down by 263.8 thousand tons MoM. The average daily output dropped by 8.4 thousand tons, to 125.6 thousand tons. In January-June Ukraine produced 35 million tons of iron ore raw materials, down by 2 million tons YoY. Deliveries of local raw materials to…Details
In May Metinvest increased its EBITDA by 13.24% MoM, to $154 million, having increased its earnings by 22.22%, to $737 million. According to the group report, in May it sold 262 thousand tons of semi-finished products valued at $109 million, and 425 thousand tons of other metal valued at $719 million. As well as 74…Details
On July 26 the ArcelorMittal Kriviy Rih miners, employees and the union representatives went on a strike with a number of demands, the main being the salary of 1 thousand euro. According to the miners (some hundred of them), the company management refuses to cooperate with them and react to their demands. They believe that…Details