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Magnitogorsk Iron and Steel Works (MMK) expects its steel product output growth at 2-3% in 2020, Director for Economy Andrei Yeryomin announced during an investor day. He said that production could decrease in January–June 2020 due to seasonal factors and repairs on the hot rolling mill. Yeryomin also said that MMK could improve the outlook…
DetailsPravourminskoye LLC, a part of Rusolovo, in January-September received 86.9 million rubles of net profit, up by 69% YoY. Revenue grew by 52%, to 1.06 billion rubles, due to tin sales. Gross profit increased by 16%. As of September 30 the company has increased investments in prospecting almost 10-fold, to 4.89 million rubles. (Ukrainian metal)
DetailsNLMK-Ural in Nizhniye Sergi has commissioned a new power complex to provide the works with electrical and heating energy. With the help of the new complex electricity purchases will decrease 2-fold, the company will be completely provided with heating, and greenhouses gases emission will drop by 4 thousand tons per year. The complex has become…
DetailsImplementation of Magnitogorsk Iron and Steel Works’ (MMK) investment strategy from 2015-2025 should add $686 million to the company’s EBITDA per year. This was announced by MMK’s top management team at the company’s Capital Markets Day held in London on November 15. At the event, MMK’s Chairman of the Board of Directors Viсtor Rashnikov, CEO…
DetailsAverage retail coal prices grew by 126.38 soms per ton, or by 2.8% in the first two weeks of November compared to the October prices. The National Statistical Committee presented such data. The maximum average coal prices were registered in Kara-Suu (8,485.28 soms), Batken (7,455.29 soms) and Nookat (7,286.61 soms) cities. At the same time,…
DetailsFerrexpo mining company with assets in Ukraine has appointed Roman Polivoda the acting financial director. The appointment follows the resignation of Konstantin Zhevaho from the office of the CEO and the appointment of the financial director Chris Mawe instead. Polivoda, a citizen of Ukraine, joined Ferrexpo in 2008 as an accountant. Because of the temporary…
DetailsMoldova Iron and Steel Works has reoriented the import of scrap from Ukraine to Romania, which has resulted in the drop of output, as the Romanian products are more expensive. According to the chairman of the parliament committee on economic policy, budget and finances Oleg Vasilatiy, the tax burden of the company might be decreased.…
DetailsIn October Vorkutaugol mined 1.213 million tons of coal, up by 70 thousand tons compared with August, when 1.145 million tons of coal were extracted. This was the highest monthly result when operating with 4 mines and a quarry. All the mines fulfilled their output goals in October. The Pechorskaya factory processed 820 thousand tons…
DetailsAccording to NLMK, in 2019 domestic demand for steel will grow by 3-5% YoY, with the construction sector being the main driver. In January-September steel demand increased by 8.5%. Next year, NLMK believes, steel consumption will grow by 2-3% and then will have an increase of 2% each year in mid-term. (Ukrainian metal)
DetailsThe arbitrary court of the Central district has not satisfied the cassation appeal of the Lipetsk power company on recovery of 415.34 million rubles of electricity debt from the Svobodniy Sokol Iron and Steel Works from May 2013 till March 2015. In 2013 Svobodniy Sokol and the Lipetsk Power-selling Company (LESK) concluded an agreement on…
DetailsIn January-October Ukrainian seaports decreased ferrous metals exports by 5.2% YoY, to 11.8 million tons. In particular, exports of pig iron dropped by 27.3%, to 1.9 million tons, and rolled metal – by 5.9%, to 6.8 million tons. Mariupol Port exported the most – 3.15 million tons, down by 12%. It is followed by port…
DetailsIn January-October Ukrainian seaports exported 20.7 million tons of iron ore, up by 36.8% YoY. Transit grew by 153.4%, to 3.7 million tons. Port Yuzhniy exported the lion’s share of ore – 17.6 million tons, up by 43.6%. (Ukrainian metal)
DetailsIn September Russia imported 414.3 tons of ferroniobium, down by 22% MoM, but up by 73% YoY. Brazil, the main supplier, has been decreasing deliveries for the second consecutive month. Import price decreased by 3%, to 20.7 per kg. In 9 months imports totaled 3.8 thousand tons, up by 26.5% YoY. In monetary terms since…
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