Russia: Severstal presents innovative products for railroad car manufacture

Severstal has started manufacturing high-strength and wear-resistant steel grades. Their usage decreases the thickness of rolled metal used by increasing its strength, thus affecting the railroad cargo throughput. The company has also presented two-layer steel grades. “The Cherepovets Iron and Steel Works two-layer metal could replace foreign analogues on the Russian market, which the railroad…

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Russia: Mechel net losses down in Q1 2018

In January-March Mechel decreased its net losses 1.7-fold YoY, to 5.1 billion rubles. According to the company statement, its revenue grew 2.2-fold, to 2 billion rubles. Gross profit increased 2.1-fold, to 2 billion rubles. Sales profit totaled 1.6 billion rubles, up 2.8-fold. The company fixed liabilities increased by 2.6%, to 239.7 billion rubles, while current…

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Ukraine: AMKR to spend 2017 profit on development

ArcelorMittal Kriviy Rih intends to spend the 2017 profit on the manufacture development.

The decision was taken at the recent annual shareholders meeting. A new supervisory board and revision committee have also been elected.

Last year AMKR received 66.19 billion UAH of net income, with net profit at 5.06 billion UAH. (Ukrainian metal)

Russia: Sinida starts gold-mining season

Sinida-1, a part of Seligdar, has started the ore gold mining season. On April 25, after a winter break and modernization, the gold-extracting factory at the Nerundinskoye deposits (Buryatia) was put into operation. “We expect increase in gold extraction. We plan to reach 74% of extraction as opposed to 45% last year. This will be…

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Ukraine: Ferrotrading profits down in 2017

In 2017 Ferrotrading LLC, specializing in the processing of secondary metals and alloys, decreased net profit by 34% YoY, to 8.287 million UAH.

Net income grew 2.1-fold, to 214.252 million UAH.

EBITDA fell to 8.404 million UAH from 12.563 million UAH in 2016. (Ukrainian metal)