Ferrexpo AG, which owns 99.11% of the Poltava Mining and Processing Works shares, has squeezed-out shares from the minor shareholders and accumulated all the 100%. Ferrexpo announced the squeeze-out in May. The price of the shares was 34.24 UAH as opposed to their initial cost of 9.96 UAH. In 2018 PGOK increased net profit by…Details
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Kirov Non-Ferrous Metals Processing Works will have new machinery in its rolling and press shop – a VRM-75 leveling machine. The assembly and commissioning of the machine are scheduled for Q3. The machine will allow leveling rods with the diameter of up to 75 mm at the speed of 150 meters per minute. (Ukrainian metal)Details
A metal structures plant will soon start operating in the Uspenskiy multi-functional park in Moscow region. The new enterprise will create 100 jobs. The total size of the plant will be 8 thousand square meters. The enterprise will produce welded structures of steel and aluminum. (Ukrainian metal)Details
Moscow Coke-Gas Works has put into operation a new gasholder to regulate gas pressure in its gas system. Investments in the project exceeded 117 million rubles. The stable gas pressure is important for the coke-oven battery operation. The new gasholder will prevent accidental gas emission. (Ukrainian metal)Details
Russian aluminum giant UC RUSAL has approved construction of a second stage of its Taishet anode plant, the company said in a statement published on June 21 on the Hong Kong Stock Exchange. The second stage’s launch is scheduled for 2023. RUSAL would need to spend about $90 million on the project in 2019. The…Details
In January-April, Russia exported 534.4 thousand tons of steel pipes valued at $478 million, down by 43% and by 56.5% YoY respectively. The largest importer was Kazakhstan – 26%, up by 46.7%, followed by US (24.2%, up almost 3-fold) and Belarus (14.5%, up by 3.2%). (Ukrainian metal)Details
In January-March, Russia produced 61.464 tons of gold, up by 13.3% YoY. The Gold Miners’ Union has increased its output forecast for 2019 to 340 tons, up by 3.1%, including 306 tons (+3.6%) of primary gold. Earlier it was expected to obtain 300 tons of primary gold. At the same time, silver output in Q1…Details
From June 21, Krasniy Octyabr has decreased prices for alloyed metal waste it purchases. The price drop is 500-2,000 rubles depending on the waste type. The average nickel content in the batch of alloyed scrap should be not less than 9.3%. The minimal batch is 5 tons. From June 17, the company has decreased prices…Details
Vallourec Niko Tube, a joint venture of Vallourec and Interpipe, was created in April 2018 to produce seamless pipes for the European market. The manufacture is situated in the city of Nikopol and consists of two lines in the pipe-rolling shops Nos. 2 and 7 of Interpipe Niko Tube. Interpipe is responsible for the manufacture…Details
Ingulets Mining and Processing Works has rendered assistance in the restoration of the Shirokoye settlement, where some 20 cottages and 55 yards were flooded in late May – early June. In 2 weeks the settlement has been flooded 4 times. Metinvest, owner of InGOK, has already transferred over 2 million UAH for the purchase of…Details
With the new investor (Metinvest) Pokrovskoye Mine Group will get a guarantee of a long-term development. In early 2019 the enterprise put into operation a new long face with 1 million tons of coal, and in spring – another one. This year it is planned to commission 5 new long faces. In May the enterprise…Details
In January-May Ukraine manufactured 7.92 million tons of rolled metal, up by 2.6% YoY, and exported 6.86 million tons, or 86.6%. Last year the share of exports was 83.2% (6.43 million tons out of 7.72 million tons). Semi-finished products accounted for 45.39% of exports (42.16% in January-May 2018), the share of flat rolled metal did…Details
In January-May metal companies sold 1.064 million tons of metal to the domestic market. All in all local customers received 1.607 million tons of rolled metal, including 543.3 thousand tons or 33.8% of imported metal. In January-May 2018 local market consumed 1843.8 thousand tons of rolled metal, including 545.8 thousand tons of imported metal, or…Details
Interpipe wants Ukrzaliznytsia to sell scrap on FCA terms. “We do not buy scrap from Ukrzaliznytsia, as we do not agree with the terms of the current auctions. The key problem is the terms of delivery. They are trying to sell a batch of scrap lying somewhere and weighing none knows how much, protect it…Details
Cherepovets Iron and Steel Works has completed capital repairs of converter No. 3 in the converter steel shop. In 2018 the converter became the first at the works to be switched to the combined steel blowing. The converter was able to carry out 3200 steel blowings with the warranty index of 3000. The analysis of…Details
Ukraine must protect its market from the inflow of Chinese pipes. “China constantly increases the deliveries of seamless pipes to Ukraine, especially lately”, Interpipe CFO Denis Morozov said. According to him, earlier Europe, USA and Russia imposed a number of limitations on the delivery of Ukrainian pipe products. “In this trade war we must protect…Details