The prices of main precious metals decreased in Azerbaijan on May 21, according to the data published by the Central Bank. The cost of gold decreased by 6.8755 manats, to 2189.753 manats per troy ounce compared to the price on May 18. The cost of silver decreased by 0.0497 manats, to 27.8482 manats per ounce.…
DetailsArcelorMittal Kriviy Rih railroad shop resumed operation after a 3-day strike. According to the union, the management agreed to increase the wages to the railroad employees: to 18 thousand UAH to locomotive drivers, 15 thousand UAH to their assistants and 14 thousand UAH to shunters. At the same time, employees of the mining department railroad…
DetailsRussian aluminum giant UC RUSAL has not received a notification of resignation of Oleg Deripaska, the company said in a press release on May 21. “As at the date of this announcement, the company has not received any formal resignation from Mr. Deripaska,” RUSAL said. On May 18 En+ Group announced resignation of Deripaska from…
DetailsThe London Metal Exchange (LME) plans to lift a ban on trading of some products of Russian aluminum giant UC RUSAL that was introduced earlier due to the U.S. sanctions, Bloomberg reported on May 21 citing Hong Kong Economic Journal. LME is currently in talks with the government to study a possibility of trade of…
DetailsLast week, the price of one ounce of gold in Azerbaijan decreased by 52,343 manats or by 2.3336%. Accordingly, the average price of one ounce of gold stood at 2,211.7221 manats. The price of one ounce of silver decreased by 0,499 manats or by 1.7572%, to 27.97428 manats. The price of one ounce of platinum…
DetailsIn 2018 Polymetal Int plans to obtain 16.3 tons of gold equivalent in Magadan region. In Q2 the group intends to resume the seasonal operation of the Birkachan heap leaching site. According to the company CEO Vitaliy Nesis, by 2020 output will have increased due to the commissioning of the new mine at the Teploye…
DetailsBystrinsky Mining and Processing Works has started selling magnetite (iron ore) concentrate. The first batch of 680 tons has been shipped to China. In May some 10 thousand tons of the concentrate will be sold. In April the works started selling copper concentrate. 4.5 thousand tons have been sold to China. BGOK also intends to…
DetailsThe council on the strategic development of the MMK Group has approved the project on the construction of the blast furnace slag dry cooling machine.
The cost of the project is 3 billion rubles.
It will undergo an expertise soon.
The project will be carried out by Shlakservice LLC, a part of MMK. (Ukrainian metal)
The new shareholders of Evraz Yuzhkoks have changed the company name to Yuzhkoks and reelected the supervisory board. The board chairman Alexander Maryanchuk, as well as the Evraz-DMZ, Evraztrans Ukraine LLC and Evraz Ukraine LLC legal department director Lyudmila Garmash and Evraz-DMZ sales management customs declaration department director Dmitry Skotarenko have been removed from the…
DetailsThe Verkhovna Rada has adopted the decree on increasing scrap export duty to 42 euro per ton for 1 year. 248 members of the parliament voted in favor of the decree with the minimum required number of 226. The decree was registered on April 4. But it suggested prolonging the current scrap duty (with the…
DetailsKarelsky Okatysh has assembled two fine crushers manufactured by Uralmashzavod. After the machines pass all the tests, they will be put into operation. In the past several years Uralmashzavod has supplied a large lot of crushing machinery to Karelsky Okatysh. In particular, the medium crushing line has been completely replaced. Now the fine crushing line…
DetailsIn January-April Zabaykalye region shipped 7.186 million tons of coal, down by 7.6% YoY.
According to the regional ministry of natural resources, in January-April 2017 7.777 million tons of coal were shipped from coal deposits.
In 2017 the region mined 21.3 million tons of coal. (Ukrainian metal)
Oleg Ryabko has been appointed the new CEO of the scrap-procuring group of companies Meta. In his new office Ryabko will be responsible for the management of the scrap-procuring business, improving its efficiency, reaching financial and manufacturing goals, etc. Andrei Pavlov, who has previously managed the company, decided to leave the office as his contract…
DetailsEarnings before interest, taxes, depreciation and amortization (EBITDA) of the Russian pipe producer TMK increased by 13% YoY, to $160 million in January-March, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on May 18.
Revenue grew by 35%, to $1.274 billion. (Prime/Ukrainian metal)
It is the first time during 12 years when there is a threat of financial crisis to the company. The reason is evident – dramatic drop in production output. Initially it was caused by stoppage of half of BFs, then failed attempt to restart BF-9 after capital repair, and finally the recent actions of the…
DetailsThe cost of precious metals varied in Azerbaijan on May 18, according to the data published by the Central Bank. The cost of gold and silver increased, while the cost of platinum and palladium decreased on May 18 compared to May 17. The cost of gold increased by 0.628 manats, while the cost of silver…
DetailsIn January-April Moldova Iron and Steel Works increased bars output 2-fold YoY, to 185 thousand tons. The increase has to do with a low comparison base because of the limited scrap supplies in 2017. Rebars manufacture increased 2.6-fold, to 110 thousand tons, while that of wire rod – by 50%, to 75 thousand tons. In…
DetailsIn January-March Sinarsky Pipe Works received 94 million rubles of net profit, down 6-fold YoY.
At the same time the company revenue increased by 1.5 billion rubles, to 10.45 billion rubles.
Gross profit dropped from 1.7 billion rubles to 1.2 billion rubles. (Ukrainian metal)
In January-March Korshunovsky Mining and Processing Works received 214.1 million rubles of net profit, down 8-fold YoY. According to the company statement, its net income was 1.7 billion rubles. Revenue dropped 2-fold, to 1.6 billion rubles. “The dynamics of the revenue and net profit is explained by the drop of iron ore concentrate output and…
DetailsIn January-March Zabaykalye region produced 290.3 tons of tungsten concentrate, down by 45.7% YoY. The decrease has to do with the drop of output volumes at Novoorlovsky Mining and Processing Works. Two companies are developing tungsten deposits in the region – Novoorlovsky GOK and Bom-Gorkhonsky Mine LLC. Novoorlovsky GOK develops and processes tungsten ore of…
DetailsIn March Russia exported 415.8 thousand tons of ferrous scrap, up by 9.5% MoM and by 19% YoY. In February the results were +10.7% and +88.6%, while in January -45.6% and +38.7% respectively. In January-March exports reached 1.14 million tons, up by 43% YoY, and the highest result in 10 years. Turkey imported 45% of…
DetailsThis year Kuzbassrazrezugol will spend over 16 billion rubles on the development of its manufacturing capacities, as well as social programs in the Kemerovo region. Last year the company invested 15.6 billion rubles, including 14.6 billion rubles in development, and 311.5 million rubles in state and regional social programs. This year industrial investments will grow…
DetailsIn January-April Zabaykalye region obtained 1158 kg of gold, up by 14.8% YoY. In April alluvial gold season started. As of May 1 some 15.3 kg of alluvial gold was collected. The ore gold output totaled 1142.6 kg. Some 50 companies are involved in gold-extracting in the region. Last year the region yielded 13 tons…
DetailsBeloretsk Iron and Steel Works has been named the Perfect Supplier by a major Russian manufacturer of electric equipment for automobiles. BMK has been cooperating with Autoelectroarmatura (AVAR) for over 10 years. The works supplies spring wire of various sizes to the company. The highest category of supplier has been given to the works following…
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