Mechel has addressed its main bank-creditors (VTB and Gazprombank) asking them to prolong the postponement to pay debts until the debt is restructured. As of late 2019, the volume of loan debt exceeded 370 billion rubles. Gazprombank has agreed to postpone the payment for a month, while VTB has not decided yet. In 2017, Mechel…Details
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In January-February, the share of metal and wares in the overall exports totaled 8.6%, down from 9.4% last year. Far foreign countries accounted for 7.6% (9% in January-February 2019), while CIS – 16.8% (12.5%). The exports of pig iron decreased by 57%, aluminum – by 53.5%, ferroalloys – by 20%, flat iron and unalloyed steel…Details
International rating agency Moody’s has worsened its outlook for Russia’s steel sector to negative from stable. The agency attributed the move to an anticipated decline in demand for steel amid low oil prices and a weak industrial PMI. Moody’s expects that demand for steel will fall by 3-7% this year compared with a previous projection…Details
In March, deliveries of scrap to metal companies reached 260-270 thousand tons, and in Q1 – 660-680 thousand tons. This allowed providing companies with scrap at the level of 110-113%. Scrap stocks are now high – 130-135 thousand tons. According to UAVtormet president Vladimir Bubley, 2020 will see decrease in scrap procurement by 12-15% in…Details
In January, Russia imported 61.9 tons of raw tin, down by 44% MoM and by 26% YoY. Price remained unchanged – $18.4 per kg. Deliveries from Belgium grew 2-fold, to 40 tons, while from Bolivia dropped 2-fold, to 20.5 tons. Malaysia and Peru stopped supplying tin to Russia. In 2019, imports totaled 1.2 thousand tons,…Details
In 2019, Russia extracted 367.952 tons of gold, up by 12% YoY. 286.563 tons accounted for extracted gold, up by 9.5%. Auxiliary gold totaled 18.134 tons, up by 17.4%. And the rest accounted for gold-containing concentrates and secondary precious metal. Polyus provided almost a quarter of all ore gold – 88.36 tons, up by 16.4%.…Details
ChTPZ Group has shipped over 60 thousand tons of large-diameter pipes to Gazprom for construction of the gas pipeline to connect Kharasaveyskoye deposit to Bovanenkovskoye. Pipes with the outer corrosion-resistant coating with the diameter of 1420 mm and wall thickness of 27.7 and 33.4 mm of K65 steel were produced at Chelyabinsk Iron and Steel…Details
The quarantine introduced to cope with the COVID-19 pandemic, will affect steel consumption in Russia. In April-May, consumption could fall by 25%, as state expenses on infrastructure projects have fallen considerably. According to VTB-Capital analysts, in February steel consumption in Russia grew by 5% YoY, following an increase of 12% in January. In Q1 the…Details
In January-March, Ukraine transported 61 thousand tons of metal cargo via the Dnepr River, down by 22.7% YoY. January accounted for the main volume of transportation. In February, transportation was suspended because of the repair at the Kakhovka sluice. The operation of the sluice resumed on March 10. In 2019, metal cargo transportation along the…Details
In January-March, Ferrexpo increased pellets manufacture by 21% YoY, to 3 million tons. In particular, in March PGOK shipped 1.148 million tons of pellets. In January-February, Ferrexpo produced 1.924 million tons of pellets, up by 13.7% YoY. Concentrate manufacture grew by 4.1%, to 2.156 million tons. In February, the group produced 947 thousand tons of…Details
Because of high debts and lack of funds for development Mechel has lost licenses to develop Pionerskoye and Sivaglinskoye iron ore deposits in Yakutia with combined reserves of over 160 million tons. In December 2019, the Russian Subsoil Use Service stopped Mechel’s right to use the deposits ahead of schedule. The company has not fulfilled…Details
Rusal is concluding a contract with Glencore to supply 6.873 million tons of primary aluminum in 2020-2024. The value of the contract is estimated at $16.3 billion. In 2025, the contract is expected to be prolonged. The previous contract was valid in 2011-2018 and provided for the delivery of 14.5 million tons of aluminum. This…Details