The shareholders of the Russian aluminum producer RUSAL voted for re-registration of the company to Russia from the Jersey Island at an extraordinary meeting on August 1, according to a statement on the Hong Kong Stock Exchange. After changing the jurisdiction, the company will attain an international status and will be able to carry foreign…Details
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In January-June Ferrexpo received $270.35 million of net profit, up by 77.6% YoY. The growth is mostly due to the higher ore prices and the increase of sales. Revenue went up by 28%, to $787 million, and EBITDA – by 59%, to $372 million. (Ukrainian metal)Details
In July Ukraine produced 1.7 million tons of steel, up by 2.6% MoM. Pig iron output grew by 2.9%, to 1.57 million tons, but that of rolled metal dropped by 0.9%, to 1.49 million tons. In January-July Ukraine produced 12.64 million tons of steel, 11.82 million tons of pig iron and 10.97 million tons of…Details
Polymetal will continue looking for buyers for the Lichkvaz deposit, its last asset in Armenia. Chaarat Gold had a buy-back right, but decided against the purchase because of the high arsenic content in the ore. “This is a good asset. We consider the chances of selling it as high”, Polymetal said. Chaarat received the right…Details
In May Russia imported 13.3 thousand tons of ferrosilicomanganese, down by 32.4% MoM, but up by 22% YoY. Deliveries from Georgia dropped by 33%, to 7.4 thousand tons, but from Kazakhstan grew by 8%, to 3.8 thousand tons. In 5 months ferrosilicomanganese imports totaled 84.2 thousand tons, up by 17.3% YoY. In monetary terms since…Details
This year NLMK intends to finally decide on the construction of a transformer steel plant in India. According to the group CEO Grigoriy Fedorishin, investments are estimated at $100-150 million. Now NLMK is looking for a suitable site. The group can also carry out this project in Russia, but is more interested in India, to…Details
The center of metal products standardization and certification of the Central Research-Scientific Institute of the ferrous metallurgy named after Bardin has prepared the second edition of the draft national standard GOST R “Rolled plates of cryogenic steel”. The standard will be implemented for the first time. The document has been initiated by metal companies producing…Details
The throughput of Novorossiysk Sea Trade Port in January-May totaled 59.752 million tons, up by 2.2% YoY. Ferrous metals and pig iron accounted for 5.483 million tons, down by 1.5%. The drop is due among other things to the implementation of import duties in the US. Non-ferrous metals throughput dropped by 17.8%, to 0.354 million…Details
Izhorsky Pipe Works has started shipping large-diameter pipes for the construction of the Kovykta-Chayanda site of Gazprom’s Sila Sibiri gas pipeline. According to the tender, won by the company in late 2018, it has to supply some 100 thousand tons of pipes with the diameter of 1420 mm made of K60 steel. ITZ has also…Details
Banks have provided the first tranche under the design financing to develop the Udokan copper deposit in the amount of 340 million rubles. Subsequent funds will be provided according to the construction schedule. The total cost of the project is some $3 billion, of which $1.79 billion is a loan for 12 years. The loan…Details
In January-July Mariupol Ilyich Iron and Steel Works increased rolled metal output by 16.8% YoY, to 1.952 million tons. Steel manufacture grew by 13.4%, to 2.152 million tons, but that of pig iron went down by 3.4%, to 2.595 million tons. In July Mariupol Ilyich produced 251 thousand tons of rolled metal, 282 thousand tons…Details
In April-June ArcelorMittal Kriviy Rih received $447 million of net loss as opposed to $1.865 billion of net profit in Q2 2018. EBITDA fell to $1.555 billion from $3.073 billion. Revenue decreased from $19.998 billion to $19.279 billion. Sales grew by 4.8%, to 22.8 million tons, and in H1 – by 3.5%, to 44.6 million…Details
Since the start of the year the Zapolyarnaya mine of Vorkutaugol has extracted 1 million tons of coking coal. Zapolyarnaya has become the third mine this year, following Vorshagorskaya and Komsomolskaya, to have exceeded the 1-million mark. At present 2 breakage faces are operated at the mine. In September the third one will be commissioned,…Details