The potential investor of the insolvent KVV Liepājas metalurgs is given two weeks to consider purchasing the company, says Latvian Economy Minister Arvils Ašeradens. He admits that talks with the potential investor are not over; the investor wants to secure the most beneficial conditions in business negotiations. Latvian government is also highly interested in getting…
DetailsStandard&Poor’s has changed the rating forecast for Ferrexpo plc, owner of Poltava and Yeristovo GOKs, from Stable to Positive. On December 29, 2017 S&P improved the group rating following the “high productivity” shown lately. The agency has also confirmed Ferrexpo’s long-term rating at B-. The rating improvement is the result of the stable iron ore…
DetailsIn December 2017 Ukraine produced 1.87 million tons of pig iron, 1.88 million tons of steel and 1.7 million tons of rolled metal, all up by 3%, 0.4% and 7% MoM respectively. “Output increase in December 2017 was mostly thanks to Mariupol Iron and Steel Works and Zaporizhstal”, Ukrmetallurgprom reported. In January-December 2017 Ukraine produced…
DetailsThe Novovolynskaya mine No. 9, a part of the state enterprise Volynugol, has suspended operation because of the lack of equipment. “The enterprise has stopped mining coal. And the reason is simple – they have nothing to work with. The mine was developing three long faces. For the past week they were barely working on…
DetailsThe contract with the acting financial director and chief accountant of ArcelorMittal Kriviy Rih Sergey Plichko has been prolonged for another quarter. According to the company decree dated December 28, 2017, the contract is prolonged through March 31, 2018. Plichko was appointed chief accountant, acting CFO on February 17, 2017. Prior to that he was…
DetailsMechel informs that the group CFO Sergey Rezontov is leaving the company.
According to the statement, Rezontov resigned due to his personal reasons.
“We are grateful to Sergey Rezontov for his work”, Mechel CEO Oleg Korzhov said. (Ukrainian metal)
In December 2017 ArcelorMittal Kriviy Rih and Mariupol Ilyich Iron and Steel Works received the most VAT among metal companies – 659.432 and 656.42 million UAH. In November 2017 they received 633.194 and 671.433 million UAH respectively. According to the State Treasury Service, Zaporizhstal was paid 407.011 million UAH (305.218 million UAH in November 2017).…
DetailsIn 2017 Seligdar commissioned 3 processing factories, produced over 1 thousand tons of tin and increased mining volume by 30% YoY and gold reserves by 19 tons. Last year the group also struck an important deal of Rusolovo shares consolidation. As the result, the group balance received a major asset. Seligdar plans to pay dividends…
DetailsIn December 2017 Zaporizhstal increased pig iron output by 38.2% YoY, to 365.7 thousand tons. According to the company statement, steel manufacture grew by 17.2%, to 357.8 thousand tons, and rolled metal – by 10.4%, to 295.2 thousand tons. In 2017 pig iron output increased by 5.4% YoY, to 3.795 million tons, steel – by…
DetailsIn January-November 2017 Ukraine imported 4.11 million tons of power-generating coal for thermal and combined heat and power plants. According to the Ministry of energy and coal industry, in 11 months Russia supplied 3.083 million tons of coal (75% of all the imports), South Africa – 653.2 thousand tons (15.9%), USA – 254.8 thousand tons…
DetailsThis year the United Mining and Chemical Company, which manages Volnogorsk Iron and Steel Works and Irshansk Mining and Processing Works, intends to increase investments 2-fold, to 200 million UAH, “2018 will be the year of manufacture reconstruction. I believe our investments will exceed those of 2017 2-fold. It’s difficult to name the exact amount,…
DetailsThe Zaporozhye subsidiary of the State Property Fund has announced the electronic auction of Aluminum Foil Works at the Ukrainian Universal Exchange.
The starting price of the state enterprise is 583.9 million UAH.
The auction is scheduled for January 19. The participation requests are accepted through January 15. (Ukrainian metal)
In November 2017 Vyksa Iron and Steel Works railroad shipments to domestic customers and for exports totaled 217.7 thousand tons, up by 22% MoM and by 8.5 YoY. In October 2017 the results were down by 9.4% MoM and by 1.7% YoY, while in September – up by 67.1% and by 53% respectively. In November…
DetailsAs of late November 2017, the coal increased in price by 27.6% (or by 2.6 thousand tenge), to 12 thousand tenge per ton, following the drop of 0.5% (52 tenge) in 2016, to 9.5 thousand tenge. In January-November 2017 coal mining reached 95.9 million tons, up by 5.2% YoY (or by 4.8 million tons). The…
DetailsIn 2017 Kazakhmys Group of Companies fulfilled its manufacturing plan in advance. In particular the group produced and sold 232943 tons of cathode copper. Copper concentrate output totaled 238.300 tons. The average copper contents in the ore were 0.93%. Despite the shortage of the rolling stock Kazakhstan railroads transported 12 million tons of cargo, including…
DetailsChepets Mechanical Works has for the first time in Russia started manufacturing hafnium oxide. The company own hydrometallurgical wastes of zirconium manufacture are used as raw materials. “For the first time we have obtained the refined hafnium oxide with 99% purity from our own raw materials. The technology has been developed by the specialists of…
DetailsZaporozhye Iron Ore Combine shareholders intend to discuss the paying of dividends for 2014. The extraordinary meeting of shareholders is scheduled for January 30, according to Minerfin, a.s., owning 51.1697% of the company shares. Out of the 1.129 billion UAH of net profit for 2014, the company will spend 850 million UAH to pay dividends,…
DetailsBecause of the limitations on its traditional sales markets ArcelorMittal Kriviy Rih has suffered losses and is forced to reorient to other markets. “All in all our losses on traditional sales markets amount to 1.5 million tons of rolled metal. We had to reorient to other directions. And that was not easy because of the…
DetailsAround 85% of Mechel creditors on the syndicate loan of $1 billion support the restructure conditions. In November 2017 Mechel reported that over half of the creditors supported them. The company continued negotiating. For the deal to be successful the company needed the approval of at least 75% of creditors. At present some 78% of…
DetailsThe Antimonopoly Committee of Ukraine has started reviewing the case on the metal wares market concentration. “In December 2017 the committee began studying the case of Devisal Limited (Cyprus) acquisition of Dneprometiz shares. The ultimate beneficiary of Devisal Limited is the Ukrainian businessman Sergey Tigipko. In October 2017, 100% of Dealzone Holding Ltd, owning 98.6%…
DetailsUkrgazvydobuvannya has ordered Interpipe Ukraine LLC the delivery of pipes valued at 905.99 million UAH.
Within three months the company will have supplied 18710 tons of casing pipes produced by Interpipe NTZ in 2017-2018.
The price is 2% below the expected cost of the purchase (921.72 million UAH). (Ukrainian metal)
The Interdepartmental Commission on International Trade has imposed a 5-year antidumping duty of 15.21% on wire rod and rebars from Russia.
The decision will come into effect around February 28, 2018.
Ukraine started the antidumping investigation on imports of Russian rebars and wire rod in February at the request of AreclorMittal Kriviy Rih. (Ukrainian metal)
The first complex of new electrolysis baths has started operating at the nickel electrolysis shop of Kola Iron and Steel Company, a part of Nornickel. The project to implement the new highly efficient technology of electric extraction presupposes the use of nickel powder instead of nickel anodes. The first stage of the program envisions 42…
DetailsIn November 2017 ferrous metals throughput remain on the previous year level – 6.1 million tons. And in 11 months railroad transported 65.8 million tons of ferrous metals, up by 1.8% YoY. According to Severstal, domestic demand in 2017 will grow by 7% YoY, to 40 million tons of steel. Growth of demand for metal…
DetailsRUSAL has presented a list of the company’s most important events and achievements in 2017. The achievements form part of the company’s key deliverables and demonstrate its strategy in action, which is to enhance RUSAL’s operational efficiency and environmental performance, increase its share of value added products, and develop social infrastructure in the communities where…
DetailsIn 2018 Amurmetal intends to produce 1 million tons of metal. “This year we have produced 180 thousand tons of metal. The goal for the next year is 1 million tons”, Torex executive director Sergey Zyubr declared. He has also announced the modernization of the bar shop, which will begin on February 1, 2018. The…
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