The net profit of Russian oil and gas pipe producer TMK dropped by 80.7% QoQ to $11 million in July-September, as calculated under International Financial Reporting Standards (IFRS), the company said. Revenue fell by 3.6% to $822 million, and gross profit decreased by 13.6% to $165 million. Adjusted earnings before interest, taxes, depreciation, and amortization…Details
Metalloinvest has concluded long-term contracts for the delivery of hot-briquetted iron to Magnitogorsk Iron and Steel Works (MMK), Tube Metal Company (TMK) and the ChTPZ group. Metalloinvest will supply 570 thousand tons of HBI: 200 thousand tons to MMK, 220 thousand tons to TMK and 150 thousand tons to ChTPZ. “These are the first long-term…Details
In January-September Donetsk region (without the antiterrorist operation zone) earned $2542.1 million from exports, down by 11.9% YoY. The region exported products to 101 countries. In particular, ferrous metals exports accounted for 76.3% of the total volumes. The regional companies exported $1.9 billion worth of ferrous metals, down by 10.6% YoY. Ferrous metal wares exports…Details
Energomashspetsstal has concluded agreements for the supply of forming rolls for ArcelorMittal iron and steel works in Spain and Romania. According to the company statement, two rolls for the cold-rolling mill will be produced for AM Sagunto SL (Spain), which processes rolled sheet for car industry. Rolls weighing 80 tons will be completely treated by…Details
Sergey Likhopud, who headed the department of legal matters in Severstal Management, has been appointed the general director of Vorkutaugol. “Sergey Likhopud became the director in a complex time. We have difficult tasks. I hope his knowledge and experience will lead the company out of the crisis situation”, Severstal BD chairman Alexei Mordashov said. (Ukrainian…Details
The Ministry of energy and coal industry of Ukraine is giving documents of Krasnolimanskaya state enterprise to the State Property Fund. According to the ministry decree, the department of corporate and property rights has to transfer the documents within 1 week. In 2015 Krasnolimanskaya mined 641.7 thousand tons of coal, down by 30.9% YoY. In…Details
The minister of energy and coal industry of Ukraine Igor Nasalik visited Severodonetsk in Lugansk region and met with the state regional administration. Nasalik said that the regional mines would receive financing of 1 billion UAH under government guaranties. “I have come to the Lugansk region to help. I want to see the situation at…Details
Three Cyprus-based companies, affiliated with Interpipe, have purchased 19.3% Nikopol South Pipe Works shares each from Transportno-Investitsionnye Tekhnologii LLC. The TIT LLC share decreased from 96.689302% to 38.675721%, while the share of Plamsted Limited increased from 0.000027% to 19.337914%, that of Wolbert Company Limited – from 0% to 19.33786%, and of Kamset Holdings Limited from…Details
In January-October Krivoy Rog Iron Ore Industrial Complex produced 4.13 million tons of iron ore, down by 10.8% YoY. According to the company statement, in October KZhRK produced 449 thousand tons of ore, up from 440 thousand tons in September. In 2015 the company produced 5.46 million tons of iron ore, down by 6.7% YoY.…Details
Cherepovets Iron and Steel Works continues its autumn repair campaign.
In particular the company has finished the overhaul of its sintering machine No. 4.
Severstal Russian Steel spent 40 million rubles on repairs. (Ukrainian metal)
Yenakievo Iron and Steel Works is facing complete halt because of Ukrzaliznytsia. “EMZ that has just finished its blast furnace No. 5 repairs might not put into operation, and that’s some 45 thousand tons of pig iron or $20 million of revenues in November”, Ukrmetallurgprom chairman Alexander Kalenkov said. According to him, the works is…Details
On November 15, Daryal put its second line of flux-cored wire into operation. “We have put all our newest techniques and developments into the line. We hope it will allow us not only to increase output, but also to meet the requirements of the most demanding consumers, among them the largest iron and steel works…Details
The Kremenchuk Steel Works plans to resume operation on December 5 and start producing railroad car casts. According to the company director Victor Samusenko, in 2017 Ukraine will need some 14 thousand car sets. “We are prepared for this. That is why the company resumed operation”, he said. Samusenko believes the company products will be…Details
The Russian government will unlikely hold an auction for the Sukhoi Log gold deposit in the Irkutsk region this year, Natural Resources and Environment Minister Sergei Donskoi reported. “A decision has not been made, and I would like to say officially that the auction will not most likely take place this year”, he said. In…Details
According to the company statement, the weight of the equipment totaled 71 tons.
The contract was concluded in July. All the parts will be supplied by year-end. (Ukrainian metal)
The Ternovskoye Mine Group has put a new long face into operation.
788 thousand tons of coal will keep the local miners busy until January 2018.
The length of the face is 280 meters. The average daily output is estimated at 2 thousand tons. (Ukrainian metal)
In January-September Koks, a part of Industrial-Metallurgical Complex, produced 2.12 million tons of bulk coke, up by 3%. During the whole year the company coking batteries have been 100% loaded, IMC strategy and communications vice-president Sergey Frolov said. Coking coal output at IMC mines decreased by 7% YoY, to 1.45 million tons, due to repair…Details
In January-September Tulachermet, a part of Industrial-Metallurgical Complex, produced 1.68 million tons of pig iron, up by 11% YoY. According to the company statement, steel-making pig iron production totaled 1.29 million tons, with 390 million tons of premium grades. “The orders of our customers have shifted to the steel-making pig iron in Q3, leading to…Details
Zaporizhstal has started the certification of its hot- and cold-rolled steel coils according to four Indian standards. To confirm the correspondence specialists of the Indian Standards Bureau have arrived at the works.
The license will allow Zaporizhstal to export its rolled metal to India, increasing its volumes. (Ukrainian metal)
Evraz plc has appointed Nikolay Ivanov the new vice-president on finances (CFO).
Ivanov will replace Giacomo Baizini, who has been CFO for 4 months following the resignation of Pavel Tatianin. (Ukrainian metal)
In November Russian Railways increased throughput by 2.6% YoY, to 34.06 million tons. In particular, the company transshipped 9.9 million tons of coal, up by 3% YoY. Iron and manganese ore transshipment went up by 4.5% YoY, to 3 million tons, ferrous metals scrap – by 10.4%, to 0.4 million tons, and coke – by…Details
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Gold mining company Nordgold, controlled by Russian businessman Alexei Mordashov, has cut its 2016 gold output forecast to 840,000-880,000 ounces from 880,000-930,000 ounces due to suspension of production at the Aprelkovo mine and difficulties with access to African deposits because of an extraordinarily long rain season, the company said in a statement. But the forecast…Details
Belarus and Pakistan are mulling over a joint steel production project, the press service of the Belarusian Industry Ministry reported. “Minsk hosted an official meeting of the Belarusian Industry Ministry authorities led by Minister Vitaly Vovk with Ahmad Ayaz Sadiq, Vice President at Barclays Bank Plc, Director for FI and NBFI Coverage in the Middle…Details
In 2016 Magnitogorsk Iron and Steel Works could receive $1 billion of net profits. Experts believe that the net profits will total $814, with EBITDA at $1.5 billion. In H1 MMK earned $486 million of net profits. Q3 results are on par with Q2, and MMK prices went up by 5%. Even though in Q4…Details
Pavlogradskoye Mine Group has mined 3 million tons of power-generating coal a month before the planned time. The company is in the TOP-3 DTEK miners. Average daily output in January-October totaled 11 thousand tons. “The output of 3 million tons will let out thermal power plants provide light and warmth to hundred thousands of Ukrainian…Details