Ukraine: pipes output up in H1 2017

In January-June Ukraine produced 500.2 thousand tons of pipes, up by 26% YoY, including 93.8 thousand tons in June. Ukrtrubprom enterprises increased output by 34.6%, to 335.4 thousand tons of pipes, with 64.4 thousand tons in June. Khazrtsyzsk Pipe Works, situated in the uncontrolled territory, produced 3.4 thousand tons of pipes (2.8 thousand tons in…

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Russia: Fitch upgrades MMK to BBB-

On July 13 the rating agency Fitch Ratings upgraded the Magnitogorsk Iron and Steel Works’s Long-Term Issuer Default Rating (IDR) to ‘BBB-‘ from ‘BB+’ with Stable Outlook. In its press-release Fitch notes that the rating upgrade reflects MMK’s substantial deleveraging and Fitch’s view that the company’s financial profile will remain conservative, with projected leverage comfortably…

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Russia: MMK steel output up in Q2 2017

Steel output of Russia’s Magnitogorsk Iron and Steel Works (MMK) increased by 3.8% QoQ, to 3.182 million tons in April-June, the company said in a statement July 17. In January-June, steel production rose by 0.6% YoY, to 6.248 million tons. Metal products sales fell by 3.2% YoY, to 5.605 million tons, in January-June, but increased…

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