As the result of the coal blockade of Donbass Ukraine could lose some $3.5 billion of revenues a year, as well as 75 thousand jobs and 4 billion UAH budget revenues. According to the Ukrmetallurgprom president Alexander Kalenkov, the blockade also affects energy and metal systems of Ukraine. The local metallurgical complex is a single…Details
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After the coal deliveries from the temporarily occupied regions of Donbass have been blocked, Ukraine has only two countries from which to buy it – USA and Russia, and the latter has just increased its price by 37%. “At first Avdiivka Coke and Chemical Works was shut down following the shelling, then people blocked the…Details
Enterprises of DTEK private energy holding located on the territory of Donbass temporarily uncontrolled by Ukrainian authorities have been working and will work within the framework of Ukrainian legislation, DTEK Director General Maksym Timchenko said. “The company has been working and will continue to work exclusively within the framework of Ukrainian legislation,” he said. According…Details
In 2016 Severstal supplied 350 thousand tons of metal to Russian and foreign car-producers in Russia. “The decrease in demand on the Russian automobile market in 2016 totaled 2%. Still Severstal was able to increase its deliveries by 12% YoY. The growth was mostly achieved by substituting high quality imported steels”, Severstal Russian Steel sales…Details
In 2016 Russia produced 10.3 million tons of steel pipes, down by 9% YoY. According to the Fund on development of pipe industry, consumption dropped by 10%, to 9.7 million tons. The main reason is the decrease in demand for large diameter pipes. Last year it decreased by 35% YoY, to 2.14 million tons. On…Details
Mariupol Ilyich Iron and Steel Works evaluates its daily losses from the Donbass railroad blockade at 4 million UAH. “We have already lost 30% of coke, or 46 thousand tons, 70% of flux limestone, or 80 thousand tons, for our normal operation. The sinter factory no longer receives coal. Our company looses some 4 million…Details
The blocking of coal deliveries from the uncontrolled territories of Donbass could result in the necessity to import 9 million tons of anthracite and it’s getting more expensive by 30% on world markets, DTEK CEO Maxim Timchenko believes. “This is a forced necessity for Ukraine to go to foreign markets to buy anthracite. And this…Details
Gold production in Russia in 2017 will grow by 2-2.5%, to 304-305 tons, according to the Union of gold-miners of Russia. The union expects the average price to hit $1.27 thousand per 1 gold ounce. “Under the expected cross-rate of the ruble to the dollar at 57-65 rubles per dollar, we believe the ruble price…Details
Alexei Tolstikov, the manufacturing director of Chelyabinsk Iron and Steel Works, has been named Engineer of the Year and included in the registry of the best engineers of the country. Tolstikov received the silver medal of Metal-Expo-2015. His engineering inventions allowed the company to save over 100 million rubles. He was appointed to his latest…Details
In 2016 Azerbaijan imported 291.1 thousand tons of steel, up by $4%, valued at $176 million. According to the State Statistics Committee, ferrous metals bars imports dropped by 63.1%, to 97.73 thousand tons at $43.6 million, ferrous angles – by 39.2%, to 28.39 thousand tons at $20.4 million, and ferrous pipes – by 53.9%, to…Details
The Zhitomir District Administrative Court has cancelled the order of the Korosten regional state administration chairman on the approving of the detailed plan of territory for the mining and processing works at the Stermigorod apatite-ilmenite deposits. In October 2013, the administration chairman granted Valki-Ilmenit the right to develop the detailed plan of the territory. In…Details
Fitch Ratings has upgraded Ferrexpo Plc‘s Long-Term Issuer Default Rating (IDR) to ‘B-‘ from ‘CCC,’ reads a report on the rating agency’s website. “The outlook is stable. Ferrexpo Finance Plc’s senior unsecured rating was upgraded to ‘B-‘ from ‘CCC’. The Recovery Rating on the senior unsecured rating is ‘RR4’. Ferrexpo’s Short-term IDR was upgraded to…Details
The minister of energy and coal industry has told the chairman of the Independent Miners Union in Lisichansk Edward Vsevolodsky, that the ministry would without doubt clear all the Lisichanskugol miners salary debts. The minister vowed to clear debts in a couple of days. The state owes Lisichansk miners 70 million UAH. The debts originated…Details