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The board of directors of Magnitogorsk Iron and Steel Works (MMK) has approved a new dividend policy, under which the company will raise its dividend payout to at least 50% of its free cash flow from 30%, Board Chairman Viktor Rashnikov said. “The new payment plan says the company will allocate at least 50% of…
DetailsAmurmetall, the only steel producer in Russia’s Far East, plans to reach production capacity of 1 million tons per year soon, the Khabarovsk region’s Head Vyacheslav Shport said. In February 2015, Amurmetall plant was undergoing bankruptcy, and put to auction at a price of 9.07 billion rubles. The auction failed due to the lack of…
DetailsSeverstal Steel Solutions, a part of Severstal Russian Steel, has started supplying metal structures for the construction of a coal thermal power plant in Yakutia. By May 25, the company will have supplied 1 thousand tons of metal structures. All the products are shipped directly from the Severstal shop to the construction site via railroad.…
DetailsIn 2016 Mechel received 276 billion rubles of revenue, with EBITDA at 66.2 billion rubles and net profit of 7.1 billion rubles. “Steel and raw materials markets last year had a lot of surprises. The year started with the steel price increase, then the coal market revived, and by December 2016 coal prices reached their…
DetailsRussian Railroads will provide a 6.6% discount to the tariff for export transportation from the Zapadno-Sibirskaya and Sverdlovskaya railroads. The discount is valid through December 31, and is applied to the transportation of coal, iron ore and metal to and from stations, near which 2 Evraz works are situated: ZSMK and NTMK. (Ukrainian metal)
DetailsNLMK Group, an international steel company with assets in Russia, Europe and the USA, has brought a new multi-layered pre-painted steel to the Russian market. The multi-layered polymer coating is more robust and attractive thanks to its lacquer finish. This steel product is designed for use in facade finishes, roofing, and interior decor. The new…
DetailsZaporozhye Titanium and Magnesium Works has ordered 42.98 million UAH worth of electrodes from Titanium of Ukraine. This year the company will supply 594 tons of electrodes and graphite anodes. The payment will be carried out half a year after the delivery. The price of the agreement is 4% lower than the expected cost (44.95…
DetailsDneprovsky Iron and Steel Works CEO Vyacheslav Mospan has reported the problems with energy carriers and drinking water. Electricity consumption is still at its lowest – 11 MWh. If the debt is not cleared in the near future, the works will be completely cut from grid. Payment for water last week was enough by today.…
DetailsGorno-Altaiskaya Expeditsiya has found traces of gold ore at the Belyashi site in Altai region. In addition to main mineral resources (tantalum, lithium, niobium, and tungsten), the site could also yield gold, copper and lead. The prospecting work was carried out in 2016. (Ukrainian metal)
DetailsThe two tenders on ferrous scrap sales by Ukrzaliznytsia with the total volume of 46 thousand tons have been declared not having taken place. According to the tender documentation, there was only one offer, while at least two offers were needed. The first lot consisted of 24 thousand tons of steel scrap valued at 122.76…
DetailsThe temporary manager of the Aluminum Castings Works (Altai region) Sergey Pupkov has put on sale assets of the company. The starting price of all lots is 215 million rubles. Machinery and mills are being sold as one lot for 120 million rubles. The offers are accepted by June 11. This is the fourth time…
DetailsIrkutsk Aluminum Works, a part of Rusal, has started producing wire rods of 3000 and 4000 series alloys. This wire rod is used in the manufacture of wire for aluminum structures and sections welding. The pilot batch of aluminum wire rods is now being used at one of Moscow works. At present the demand of…
DetailsThis year the Ministry of finances has to pay the State Bank of China 348.53 million UAH under the loan agreement with Lisichanskugol, provided by the bank under state guarantees in December 2011. The bank gave $85 million with 7.05% interest rate for 9 years to modernize the mine named after Melnikov. As of March…
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