In July Metinvest EBITDA increased by 8.84% MoM, or by $13 million, to $160 million, with revenue up by 1.67%, or by $12 million, to $732 million. According to the group statement, in July it sold 265 thousand tons of semi-finished products valued at $101 million. In particular, it sold 154 thousand tons of pig…Details
In August the global pig iron output increased by 2.6% YoY, to 102,472 million tons. According to World Steel Association, China is leading with 62.608 million tons, up by 4% YoY. Ukraine is on the 9th position with 1.79 million tons, followed by Taiwan with 1.25 million tons and preceded by the USA with 1.86…Details
Moody’s has improved from Stable to Positive the outlook for Rusal. The company corporate rating remained on Ba3 level. “Our decision to change the Rusal outlook is connected with the decrease of borrowed money early in the year on the background of the profit increase as the prices for aluminum improved”, the agency said. In…Details
SMS group will supply a 290-ton ladle furnace to ArcelorMittal Temirtau.
The company will also supervise the assembly and commissioning of the new complex.
The cost of the machinery is not disclosed.
The new furnace will be put into operation in Q2 2018. (Ukrainian metal)
Russian gold producer GV Gold is negotiating acquisition of Zoloto Kamchatki from multi-industry holding Renova Group of businessman Viktor Vekselberg. Some sources say that the deal may be announced soon. Another source said that GV Gold was exploring various M&A options and Zoloto Kamchatki was among six gold companies under consideration, including Lenzoloto, a part…Details
Exploration and development company Chaarat Gold is planning to speed up the timeline at its Tulkubash mine in the Kyrgyz Republic following an improvement in the backdrop for miners in the country. “The improving climate in the country for mining companies has been demonstrated not only by the recent license agreement signed by the Kyrgyz…Details
In August Russia produced 5.6 million tons of steel, down by 5% YoY (5.585 million tons in July). In 8 months steel output totaled 46.535 million tons, down by 1% YoY. Ukraine in August decreased steel output by 5.5% YoY, to 1.8 million tons (1.81 million tons in July), with 14.114 million tons produced in…Details
Uzbekistan signed a contract on supply of uranium to the United States. The contract is designed for 7 years and its cost exceeds $300 million. “It is a long-term contract. This is very important and significant. The total value of the contract exceeds $300 million,” said Elyor Ganiev the Minister of Foreign Trade of Uzbekistan.…Details
The arbitrary court of the Altai region has dismissed the Zoloto Kuryi LLC insolvency proceedings, as the claimant – Trud LLC – has revoked its claim. In April the court granted Trud LLC the right to recover 80.5 million rubles of debts on loan from Zoloto Kuryi. In 2016 Zoloto Kuryi planned to resume gold…Details
In July, according to the customs statistics, Russia exported 8.8 thousand tons of corrosion-resistant scrap valued at $7.8 million, up 2.2-fold MoM and by 4.8% YoY, as well as up 2.4-fold MoM, but down by 6.3% YoY respectively. In January-July Russia exported 47.3 thousand tons of scrap, up by 5.4% YoY. Revenue dropped by 0.4%,…Details
Cherepovets Iron and Steel Works has completed the assembly of the loading crane in the rolling shop. “The new crane with the lifting capacity of 50/12.5 tons will be transporting rolls. The cost of the machinery is 55 million rubles”, Severstal Russian Steel CEO Vadim Germanov said. The program to replace the cranes at CherMK…Details
According to Evraz, metal wares market in 2017 will hit 1.9 million tons, up by 9% YoY. In 2018 it will grow by 7%, to 2.028 million tons. In the cold-deformed rebars and VR-1 wire segments Evraz occupies some 25%. This year the group intends to produce 435 thousand tons and 102.3 thousand tons respectively.…Details
Bekart-Lipetsk LLC is starting the capacity increase project. Bekart started producing metal cord at its Lipetsk site in 2009. In 2013 the company began manufacturing steel fiber for construction. This September it was decided to increase cord capacity by 50%, to 35 thousand tons per year, and fiber – by 100%, to 40 thousand tons.…Details
Metallotechnika LLC, a part of Evraz, and the owner of 25.7834% of Yuzhniy Mining and Processing Works, has ceased being a shareholder of the company. Metallotechnika has sold all of its shares. As of Q2, the major shareholders of UGOK were Strettonway Traders&Consultants Limited, Acretrend Holdings Limited и Mint Data Holdings Limited (all – Cyprus),…Details
7 officials of the state enterprise Lvivugol have been accused of corruption by the Chervonograd local prosecutors.
Without any important reasons they have untimely filled in the declaration on income and possessions on the official site of the National agency on corruption. They have all been fined for 850 UAH each. (Ukrainian metal)
The state enterprise Yuzhnodonbasskoye No. 1 Mine Group has ordered the Makeevka Works “Fakel” the delivery of fire extinguishers valued at 2.03 million UAH. In 2017-2018 the works has to supply 600 mine extinguishers VP-8 at 2540 UAH apiece and 300 extinguishers VVSH9 at 1690 UAH apiece. On the open market such extinguishers are sold…Details
European Commission has decided to impose a fixed tax on each ton of hot-rolled iron, alloyed and unalloyed steel originating from Ukraine, Russia, Iran and Brazil instead of minimal import prices. The fixed tax per ton will become the final protection against hot-rolled metal imports from these countries. The tax for Russian manufacturers will be…Details
In January-August Novoshakhtinskoye Open Pit Group of Primorskugol LLC, a part of SUEK, shipped 1.738 million tons of coal from the Pavlovskoye deposits, up by 3.5% YoY. At present Primorskugol is constructing the Nekkoviy open pit at the Lipovetsky deposits. Its project capacity is 500 thousand tons of coal per year. The pit will be…Details
Chelyabinsk Zinc Works has started negotiations with the owners of major ferrous metal plants, including MMK and ChMK, on the possibility of processing and recycling their zinc-containing dust wastes. According to the company EO Pavel Izbrecht, the current technologies allow to effectively and safely process these raw materials. In 2017 it is planned to obtain…Details
ArcelorMittal Temirtau has put into operation a new 8 D1-2 breakage face at the Shakhtinskaya mine. The company has invested over 500 million tenge into the face. The coal reserves there are estimated at 590 thousand tons. Average daily output will be 3 thousand tons. The new breakage face will be developed for 9 months.…Details
Kyshtym Electrolytic Copper Plant is modernizing its copper wire rod shop. The company intends to replace the casting machine, increase the wheel diameter, furnace capacity, and assemble new engines. This will allow improving the speed of the technological chain to 20 tons per hour and output to 140 thousand tons of copper wire rod per…Details
Egypt decided to prolong temporarily antidumping duties on rebars, produced in Ukraine, Turkey and China, for 2 months. The size of the duty is 15-27% CIF for Ukraine, 10-19% CIF for Turkey and 17% CIF for China. Egypt introduced duties on imported rebars in June for 4 months. The decision was taken to protect local…Details
International rating agency Moody’s has improved its outlook of corporate ratings of Russian aluminum giant UC RUSAL to Positive from Stable, affirmed the corporate credit rating at Ba3 and the probability of default rating at Ba3-PD, the agency said in a research note late on September 26. Moody’s improved the outlook due to deleverage of…Details