Russia: MMK announces AGM results

Magnitogorsk Iron and Steel Works on May 27, held its Annual general meeting of shareholders (AGM) in Magnitogorsk. The AGM approved of MMK’s annual report and financial statements for FY 2015 and resolved to pay a dividend for the 2015 financial year of RUB 0.31 per common share of issued stock (incl. tax). Earlier shareholders…

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Ukraine: criminal gets largest lithium deposits

One of the largest lithium deposits in Europe, situated in Kirovograd region, has been given to Ukrainskiye redkiye metally LLC (Ukrainian rare metals).

On May 20, Kirovograd regional council voted to allow the company to work at the deposits. The company is believed to be connected with Alexander Pavlyuchenko, a well-known criminal. (Ukrainian metal)

Ukraine: Kiev to host a scrap conference

On June 17, Kiev will host the “Scrap metal: sources and market trends” conference. Scrap procurement and sales are having hard times. Export limiting decrees have made the market uncertain and nervous and the conflict with metal makers even deeper. The conference will deal with scrap procurement under such difficult circumstances, prospects of scrap export…

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Ukraine: metal output in Donetsk region up in January-April 2016

In January-April Donetsk region (without the Antiterrorist operation zone) industrial output went up by 9.6% YoY, with April results growing by 2.4% MoM and 8.7% YoY. Metal output increased by 10.4%, mining – by 21.4% and coke – 1.6 times, all YoY. Coal mining went up by 21.8% YoY, to 5.2 million tons. Pig iron…

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Russia: Mechel announces change in management

Mechel reports that its chief financial officer Andrey Slivchenko is leaving the company following the completion of his two-year contract. “We are deeply grateful to Andrey Slivchenko for his huge contribution into our efforts on stabilizing the company’s financial situation. Andrey joined our team at a very complicated time and has well discharged the duties…

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Metals of Ukraine & Russia: hot-rolled coils, April 2016

Month

Ukrainian market, $/t, without VAT, EXW, $1/UAH25.1865*

min

max

March

251

316

April

282

377

* – Ukrainian Hrivna and Russian Rouble exchange rates are as of 30.04.16 according to the National Bank of Ukraine and the Central Bank of the Russian Federation. (Ukrainian Metal)