Steelmaker Severstal, controlled by Russian tycoon Alexei Mordashov, expects possible government claims to amount to about $400 million of taxes on dividends transferred to the British Virgin Islands through Cyprus companies in 2009-2015. The company said that the figure was based on 2015 changes in the law on controlled foreign corporations aimed at regulation of…Details
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Russian oil and gas pipe maker TMK plans to sell 139 million common shares at 75 rubles per paper during a secondary public offering (SPO) to raise about 10.417 billion rubles from the placement, the company said in a statement. Earlier TMK said it launched the SPO to offer up to 139 million common shares…Details
The state enterprise Lvivugol has received 14.7 million UAH for the sale of coal. “All the money was spent to pay salary to miners. They have received their December 2016 salary in full”, the energy and fuel department of the Lviv state regional administration reported. (Ukrainian metal)Details
Following Taiwan that in mid-January announced it would join the consultations between Japan and India on the Indian steel imports limitations, Ukraine and Russia decided to do the same. According to Russia, the import limitations, imposed by India in 2015-2016, resulted in the decrease of Russian exports to India by 38% YoY in 2016, to…Details
Yakutugol, a part of Mechel, has purchased two new excavators EKG-18 for the operation at its Neryugrinsky mine. The new machinery was purchased within the program of technical modernization of the enterprise. The cost of the two machines is around 1.2 billion rubles. The first excavator will be put into operation in March. The excavators…Details
On February 15, the Eurasian Economic Committee will hold a public hearing within the antidumping investigation of the Ukrainian hot-rolled angles supplies to the territory of the Customs Union. The investigation started in August 2016, following the complaint of Evraz ZSMK and NTMK. Severstal and MMK were also interested in implementation of limiting measures. (Ukrainian…Details
Metinvest fears the blast furnaces of its Azovstal Iron and Steel Works could decrease output to the lowest possible level because of the lack of coke. According to the group’s press-service at present all the blast furnaces are operating, as they get coke from the 3 coking batteries. But they are not enough to provide…Details
In 2016 Kuzbassrazrezugol enterprises mined 44.3 million tons of coal, including 6.2 million tons of coking coal. The annual output equals the 2015 results, but coking coal production increased by 7.2% YoY. Coal sales decreased by 1.8 million tons YoY, to 39.8 million tons. “This has to do with us increasing the coal processing. Thus…Details
In early 2017 Evraz NTMK has increased productivity at its wheel-tyre shop because of the increase in demand on behalf of Russian customers. The increase in output in 2017 is expected to reach 20%. “Wheels are one of our key products. At present we see an increased demand for this type of metal products in…Details
The Federal Service of ecological, technical and nuclear supervision has fined Boguchansk Aluminum Works and Sorsk Ferromolybdenum Works. BoAZ was checked on November 28 – December 23, 2016 and fined for 40 thousand rubles for illegal construction of heating power plants. While SFMZ was accused of violations of the waterworks safety operation, and fined for…Details
In 2016 Interpipe sold 572 thousand tons of products, down by 5% YoY. According to the company statement, pipe sales dropped by 10%, while wheel sales went up by 22%. The export share in sales reached 75%. Interpipe sold 458 thousand tons of pipes in 2016. Ukraine and Europe saw the highest growth in consumption.…Details
Energomashspetsstal will supply a batch of polygonal ingots to SSK van Schaewen Wetter. The billets will be produced of structural grade steel and will be sent to the customer in March. The weight of the lot will total 658 tons. The ingots will serve as the raw materials for the production of parts for various…Details