Ukraine has cut off both electricity lines that fed Moldova Iron and Steel Works, according to the Transnistria minister of industry and regional development Nikolai Gliga. According to Ukrenergo power company both lines will have to be repaired. “These lines are used to feed the works in the smelting mode”, the minister noted. He says…Details
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In January-February the share of metal and metal wares in the imports from foreign countries totaled 5.4% (5.6% in January-February 2015). According to the Federal Customs Service, the cost of the products increased by 23.5% YoY, and their volume – by 30.3%. Imports of ferrous metals and wares increased by 35.3%, while pipe deliveries dropped…Details
In January-March Beloretsk Iron and Steel Works, a part of Mechel, increased sales of metal wares with high added value. The highest rise was in rebars for construction (by 32% YoY). Sales of steel wire increased by 24%, of bearings – by 17%, of steel ropes – by 9%. “The increase in sales has to…Details
Metalloinvest has announced that Fitch Ratings (Fitch) confirmed the company’s long-term issuer default rating at ‘BB’ with a Stable outlook. In accordance with Fitch’s opinion reflected in the published release, Metalloinvest demonstrated financial resilience at times of volatile global pricing in iron ore and steel products and consistently reduced its absolute level of debt over…Details
In May Ukrainian metal companies intend to produce 1.8 million tons of steel. According to Ukrmetallurgprom, pig iron and rolled metal output could stand at 1.6 million tons each, provided the situation does not change. For April Ukrmetallurgprom forecast pig iron output on the level of 1.5 million tons, steel – 1.7 million tons, rolled…Details
The owner of Metalloinvest the billionaire Alisher Usmanov reported on the salary at the enterprises. For example, in Belgorod region, where the main enterprises of Metalloinvest are situated – Mikhailovsky and Lebedinsky GOKs and OEMK – the average salary is 24 thousand rubles, according to Rosstat. “At our enterprises the average wage is 41 thousand…Details
Ukrainian metal companies consider its fair to extend the term of the increased scrap export duty, as the raw material is scarce on the local market. According to Metinvest CEO Yuri Ryzhenkov, the group has wintered without a considerable shortage of scrap for the first time in three years. “We were able to get good…Details
NLMK Group, an international steel company with facilities in Russia, Europe and the USA, boosted its spending on environmental projects and initiatives by 12% in 2016, to RUB 7.05 billion. The majority of funds were used for projects and initiatives to improve air quality. For example, NLMK Lipetsk upgraded gas cleaning systems at the refractory…Details
Centerra Gold Inc. regrets to report a fatality at its Kumtor mine. On April 11, an individual, a vehicle mechanic, was fatally injured while inspecting a light vehicle pickup truck in the field. An internal investigation has commenced and Kumtor management is working with the Kyrgyz regulatory authorities. “Centerra and Kumtor are deeply saddened by…Details
In January-March Kyshtym Electrolytic Copper Plant produced 31.9 thousand tons of cathodes, having reached a new record. In Q1 the copper-smelting shop was working at its maximum capacity, providing copper electrolysis shop with anodes and copper powder. 38.9 thousand tons of anodes were manufactured there. The copper electrolysis shop produced 31.91 thousand tons of copper…Details
Zagorsky Pipe Works goes on diversifying the structure of suppliers of steel sheet, used in making pipes. To the major Russian suppliers, such as Severstal, MMK, etc., ZTZ has added a foreign manufacturer – Posco (South Korea). “The rolled sheet of Posco, which we bought in small batches last year, satisfied both our clients and…Details
Mechel reports that its cooperation agreement with Baosteel Resources, which is part of China Baowu Steel, China’s largest steelmaking group, has been prolonged. Since April 2017 and until March 2018, Mechel will supply Baosteel Resources’ facilities with up to 960,000 tons of premium-grade coking coal mined in Southern Yakutia. Coal will be shipped via Mechel’s…Details
In March Ukrainian metal companies consumed 140 million cubic meters of natural gas, down by 30 million cubic meters MoM. Average daily gas consumption dropped by 1.6 million cubic meters, to 4.5 million cubic meters. In Q1 metal companies consumed 510 million cubic meters of gas, up by 11% YoY. Average daily consumption increased from…Details