Russia: Standard&Poor’s assigns MMK “BBB-” rating, Outlook Stable

On December 10 rating agency S&P Global Ratings assigned the PJSC Magnitogorsk Iron & Steel Works’ (MMK) “BBB-/A-3” long- and short-term issuer credit ratings with Stable Outlook. In a press release S&P notes that its assessment of MMK’s creditworthiness incorporates MMK’s low-cost production profile, strong operating efficiency, significant share of high value-added products in sales,…

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Ukraine: ferrous metals exports revenue up in January-November 2018

In January-November Ukraine increased revenue from the export of ferrous metals by 17% YoY, to $9.178 billion. Its share in the overall exports reached 21.22%. According to the State Fiscal Service, metal wares exports grew by 28%, to $1.024 billion (2.37%). At the same time Ukraine imported $1.3 billion worth of ferrous metals and $886.5…

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Russia: KZF to sell TZF products

Tikhvin Ferroalloys Works, a part of Yildirim Group, has transferred the exclusive rights to sell high-carbon ferrochromium in Russia to Klyuchevsky Ferroalloys Works, a part of MidUral Group. The high-grade ferrochromium is sold not only in Russia, but is also exported to Europe, USA, Japan and China. The new contract is an important step in…

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Ukraine: Demurinsky GOK to be included in sanctions list

A group of people’s deputies have asked the chairman of the Council of the National Security and Protection Alexander Turchinov to include Demurinsky Mining and Processing Works (Dnipro) into the sanction list of Russian enterprises. “Ilmenite, the raw material to manufacture the main war metal – titanium – Russia buys mostly from Ukraine. This titanium…

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