Russia: NLMK profits down in Q3 2016

In Q3 NLMK received $385 million of net profits, down by 6% YoY. According to the company statement, its sales increased by 2%, to 4.2 million tons. Its revenues grew by 10%, to $2.25 billion. Investments fell by 29%, to $104 million, but the free cash flow increased by 28%, to $474 million. In January-September…

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Belarus to hit Ukrainian ferroalloyers under discount promises from Russia

Belarus, that has previously blocked duties on ferrosiliomanganese imported from Ukraine to the Eurasian Economic Union, has now agreed to impose a protective measure in exchange for the 20% discount from ChEMK (Chelyabinsk Electrometallurgical Works). In June the EEC imposed a 5-year duty of 26.35% on Ukrainian ferrosiliomanganese (Ukraine supplied $200 million worth of ferrosiliomanganese…

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