Severstal has named the recent increase in coking coal prices unjustified and hopes for their decrease in the next 2 months, as the future steel profits will face higher coke expenses. According to the company, the main reasons for the coal price increase were the decrease in working hours at Chinese mines and the breaches…Details
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In January-September Russian Copper Company produced 132694 tons of copper cathodes, up from 103726 in January-September 2015. In particular, Kyshtym Copper-Electrolyte Works in August produced 7504.414 tons of copper cathodes in shop No. 1 and 3496.062 tons in shop No. 2 (11000.476 tons in total). This has led to the increase of the works targets…Details
Russian aluminum giant UC RUSAL has filed a suit to the International Center for Settlement of Investment Disputes (ICSID) demanding Ukraine to redeem the company’s investment in Zaporozhye Aluminum Complex, a RUSAL representative reported. “Affiliates of RUSAL have turned to the ICSID with a request to compensate for the investment in Zaporozhye Aluminum Works. The…Details
In connection with being shifted to the tolling system, the Tajik Aluminum Company (TALCO) has been faced with unfavorable financial situation and the company is currently losing $100.00 from production of each ton of the tolling aluminum, says a report by the Ministry of Finance (MoF) on TALCO’s activities in 2010-2015 and the first half of…Details
In September Zaporizhstal decreased gas consumption to 10 million cubic meters per month. According to the company statement, annual gas consumption was halved. In 2012 the works consumed 331 million cubic meters of natural gas, 236 million in 2013, 221 million in 2014 and 205 million cubic meters in 2015. This year Zaporizhstal gas consumption…Details
Metinvest intends to develop its sales network in Europe to be closer to European consumers. According to Metinvest Western Europe sales director Roberto Re, the group has four works in Europe: two in Italy, one in Bulgaria and one in UK, as well as a network of 13 offices. “Our companies in EU always stock…Details
The minister of energy and coal industry Igor Nasalik plans to increase uranium mining by attracting private investments and foreign companies into the industry. This will make Ukraine more energy-independent. Westinghouse and some other companies are interested in mining Ukrainian uranium, according to the minister. At present Ukraine provides its NPPs with only 30-35% of…Details
For the past 6 years electricity debts of Tajikistan Aluminum Company valued at 261.6 million somoni have been written off. Even though the company receives electricity at low tariffs. Because of the untimely payment for electricity in H1 TALCO’s debts reached 468.4 million somoni. The company consumes some 30% of Tajikistan-produced electricity every year. In…Details
Ukraine should have a strong position in the issue of its own uranium mining. Taking into account the strong place of Russia in the industry and its friendship with Kazakhstan, all the matters of cooperation with Kazakh companies should be thought over. According to the Ministry of energy and coal industry strategic planning and European…Details
In January-September Stoylensky Mining and Processing Works (a part of NLMK) produced 11.79 million tons of iron ore concentrate, up by 5.1% YoY. This was the result of high-pressure roll presses assembly in two sections of the factory. SGOK also produced 1.18 million tons of sinter ore. The works sold over 13 million tons of…Details
In Q3 Severstal received $429 million of net profits, without non-monetary factors net profits totaled $449 million. In January-September Severstal’s net profits almost doubled to 1.3 billion rubles. EBITDA increased in Q3 by 11% QoQ, to $584 million. Revenues in Q3 dropped by 0.5% to $1.58 billion. In January-September revenues decreased by 14.7% YoY, to…Details
Moldova Iron and Steel Works has resumed steel smelting. According to the technical director Oleg Kucherenko, this month the company plans to produce 12 thousand tons of billets. “We have received enough scrap”, he added. The Tiraspol works has been idle since August. The MMZ management has signed an agreement with scrap suppliers and now…Details