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In January scrap stocks at Ukrainian iron and steel works decreased by 70 thousand tons, to 120 thousand tons. Last month metal companies received 230 thousand tons of scrap, down by 90 thousand tons MoM, or 73% of their need. In January Ukraine exported 10 thousand tons of scrap and imported 2 thousand tons. In…
DetailsU.K.-registered gold producer Petropavlovsk Plc, which operates in Russia, can start paying dividends after 2018, CEO Pavel Maslovsky declared. The company set a condition that dividend payments would start once a debt to EBITDA (earnings before interest, taxes, depreciation and amortization) ratio is below 2 to 1, in December 2014 during loan refinancing. “Now the…
DetailsRosterminalugol JSC says it has loaded 2 million tons of coal this year (as of February 11). The milestone ton was loaded onto Panamax ship Nireas, the tenth vessel handled in February and the 33rd from the year beginning. In 2016, this result was achieved on February 29. Rosterminalugol JSC (port Ust-Luga, Leningrad Region) is…
DetailsAlchevsk Iron and Steel Works has been shut down because of the lack of iron ore raw materials and the railroad blockade. Yenakievo Works and Donetskstal are also on the brink of being shut down. The current average daily pig iron and steel output is 5% lower MoM. As of February 14, 20 out of…
DetailsUkraine consumes 24 million tons of coal, of which 9 million is anthracite group produced from the Ukrainian subsurface in the temporarily occupied territories, and which totals one third of the whole electricity in the country, Ukrainian Prime Minister Volodymyr Groysman stated. He said that public strict monitoring must be introduced, if cases of smuggling…
DetailsRussian billionaire Mikhail Prokhorov’s Onexim Group will sell 3.3% in aluminum giant UC RUSAL for $240 million, a banking source familiar with the deal reported. Onexim plans to sell 505 securities at 3.7 Hong Kong dollars, or 27.7375 rubles, per share. Dimosenco Holdings, an affiliate of Onexim group, started collecting bids for 2.5% in RUSAL…
DetailsRussian metallurgical company Ruspolymet plans to launch a 1.14 billion ruble plant to produce powdered high-speed steel billets for metal-cutting tools in the Sarov technological cluster in the Nizhny Novgorod region, the company’s board of directors chairman Viktor Klochai announced. The project will be implemented by Ruspolymet’s subsidiary Grankom under state industrial corporation Rosatom’s scientific…
DetailsThe Ukrainian Prime Minister Vladimir Groysman said that in 3-5 years the country would be able to cope without anthracite coal from the occupied territories of Donbass. “To carry out the modernization and replace this coal with, say, gas-generating group, which is mined on controlled territory, we will need some 3-5 years and around 15…
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