Russia: Rusal earnings up in H1 2017

In January-June Rusal increased earnings by 22.3% YoY, to $4.674 billion, mostly because of the LME aluminum price increase and the company sales growth by 3.8%. Earnings in Q2 went up by 7.4% QoQ, to $2,467 billion. The share of the high added value products increased to 49.2% from 44.3%. Corrected EBITDA in Q2 grew…

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Russia: Lenzoloto IFRS net loss up in H1 2017

The net loss of Russian gold producer Lenzoloto tripled to 1.072 billion rubles in January-June, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on August 24. The pre-tax loss also tripled to 1.091 billion rubles, income from sales fell by 17.5%, to 2.396 billion rubles, including income from gold…

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Ukraine: steel, rolled metal and pig iron output up in July 2017

In July Ukraine, not counting the temporarily occupied territories of Crimea, Sevastopol and the ATO zone, produced 975 thousand tons of steel (without continuous cast semi-finished products), up by 7.8% YoY and by 16.5% MoM. According to the State Statistics Service, steel output in January-July decreased by 7.3% YoY, to 6175 thousand tons. Pig iron…

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Russia: BMK modernizes roller furnace

Beloretsk Iron and Steel Works has modernized the roller furnace in the rolling shop.

This will improve the rolled metal quality and decrease expenses.

The furnace is used to heat the billets to 1050 degrees C before rolling.

Investments in the project totaled 15 million rubles. (Ukrainian metal)

Ukraine: Corum increases salary

On August 1, the Kharkiv Machine-Building Works “Corum Svet shakhtera”, a part of Corum Group, started increasing salary of its employees on the background of the 120% loading of its capacities. The maximum increase will total 40%. Previously the wages ranged between 8 and 15 thousand UAH depending on the output and quality of products.…

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Uzbekistan: Russian MetProm to prepare Uzmetkombinat modernization project

The Russian group of companies MetProm will design the modernization project for Uzbekistan Iron and Steel Works. The Uzbek party will have received the project documentation by October. The project presupposes the construction of two steelsmelting furnaces, two steel-treating furnaces and a casting-rolling complex. The modernization cost is estimated at $550 million. After the modernization…

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