The Ministry of energy and coal industry intends to close down 11 state mines. “We will shut down 11 mines. We have chosen 15 mines and can make them profitable; after that we will privatize them”, said the ministry head Igor Nasalik. The remaining 7 most profitable mines will remain in the state ownership. Last…Details
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Month Russian market, $/t, EXW, without VAT, $1/RUR64.3334* Ukrainian market, $/t, without VAT, EXW, $1/UAH25.1865* Export, Ukraine, $/t, FOB Black sea ports Export, Russia, $/t, FOB Black sea ports min max min max min max min max March 202 236 161 214 235 250 190 250 April 202 236 183 243 280 285 275 300…Details
Zaporizhstal has successfully passed power management system resertification audit to meet ISO 50001:2011. The audit was carried out by the Technical and management services company, a partner of TUV SUD. The auditors have marked the high level of power management and prolonged the certificate for 3 years. For the past three years Zaporizhstal was able…Details
In 2015 Metinvest decreased investments by 54% YoY, to $285 million. “The holding carried on with its investment projects in accordance with the technological strategy”, said the company in its statement. Metal and mining divisions received 48% of investments each. Due to the conflict in the region priorities moved to the supporting projects and those…Details
The Ministry of energy and coal industry supports the idea of implementing coal mining rent. “We do support this rent, but not at the moment – some time later”, said the minister Igor Nasalik. The ministry sees this idea as a way to finance profitless mines at the expense of highly profitable ones. “We take…Details
Mariupol Ilyich Iron and Steel Works has found a way to decrease losses of air blast under low capacity or fanning. “Our specialists have found a way to decrease the minimal turbine turning frequency and steam consumption. This is also important as the blast-furnace gas becomes scarce, because of the drop in blast-furnace output. Thus…Details
Energomashspetsstal will produce a batch of rolls for Steinhoff GmbH (Germany). The company has already started making billets of supporting and working rolls for cold-rolling mills. “According to the contract, in July EMSS will supply 12 rolls weighing 66.5 tons to Germany. They will be completely treated here”, said the company in its statement. EMSS…Details
Magnitogorsk Iron & Steel Works (MMK) is pleased to announce that on May 23, the rating agency Fitch Ratings revised the outlook on its long-term issuer default rating (IDR) to positive from stable and affirmed the IDR at ‘BB+’. In its press-release Fitch notes that the positive outlook reflects MMK’s strong financial performance which allowed…Details
Within the order from Russia Khartsyzsk Pipe Works started producing large diameter pipes. The total weight of the order is around 100 thousand tons. The works, situated in the terrorist-occupied city of Khartsyzsk, belongs to Metinvest. In February it was visited by Putin’s henchman Surkov. Experts believe that the completion of this order for Russia…Details
Increase of Chinese iron ore indexes has positively affected Ukrainian iron ore export prices. Average price in April was $45 per ton, up by $11.5 per ton MoM, or by 34.4%. “Ukrainian export prices in May went up by 3-7%. But we believe, that in June it will turn into a decrease of 10-15% due…Details
Supervisory board of Dneprometiz has appointed Anatoly Frishman, CEO of Severstal-Metiz (Russia), its chairman. Frishman has been appointed until the next annual meeting of the shareholders. Chief accountant deputy of the company Lilia Dubovichenko has been appointed chairman of the revision committee. (Ukrainian metal)Details
Kola (subsidiary of Norilsk Nickel) has decommissioned the pelletizing and roasting sector (PRS), in effect abandoning the obsolete technology used since 1960s and shifting to copper-nickel concentrate briquetting. Kola completed this work in line with Metallurgical production facilities revamping program, specifically to improve the company’s environmental performance. The shutdown of the roasting area required major…Details
Ukraine’s EU export share accounts for 38.5%, up by some 6% YoY. At the same time its volumes in Q1 went down by 2.7% YoY. In January-April Ukraine exported $3.2 billion worth of products to EU ($3.7 billion together with services), mining and metal share was 20.5%. Iron ore, concentrate and ferroalloys deliveries decreased. (Ukrainian…Details