Ukraine: Metinvest still liquidating Donetskkoks

Metinvest is carrying out a process to liquidate Donetskkoks situated in the temporarily occupied territory of Donetsk region.

On December 27 the extraordinary meeting of the company shareholders will hear the liquidator’s report.

The decision to liquidate the company was taken by the Donetskkoks shareholders on March 29. (Ukrainian metal)

Russia: ZEMZ sues Krasniy Octyabr for 3 billion rubles

The arbitrary court of Chelyabinsk region has received a claim from Zlatoust Electrometallurgical Works to Volgograd Iron and Steel Works Krasniy Octyabr.

The volume of the claim is over 3 billion rubles.

The details are not disclosed. (Ukrainian metal)

Russia: Belon suing MMK for $160 million

The minority shareholders of Belon demand MMK, owning over 95% in the company, to buy coal assets and not reorganize them. They also estimate the company losses at 10.7 billion rubles ($160 million). The reorganization was carried out in 2015-2017. The minority shareholders, who have filed the claim, hold 1.3% in Belon. MMK entered the…

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Russia: Balakovo Metal Structures Works to be declared bankrupt

The arbitrary court of Saratov region will hear the case of the Balakovo Metal Structures Works.

The claim came on May 22 from the Yaroslavl-based Remindustria.

On November 23 the claim was declared valid.

The court will sit on March 13, 2019. (Ukrainian metal)

Russia: Moskoks ships trial batch of coke to India

Moscow Coke-Gas Works has shipped a trial batch of coke to India.

The first batch of 20 thousand tons was shipped in late October.

Mechel Carbon carried out the sale.

As the customer was satisfied with the products, soon 2 more batches totaling 30-40 thousand tons would be shipped to India. (Ukrainian metal)

Russia: Standard&Poor’s assigns MMK “BBB-” rating, Outlook Stable

On December 10 rating agency S&P Global Ratings assigned the PJSC Magnitogorsk Iron & Steel Works’ (MMK) “BBB-/A-3” long- and short-term issuer credit ratings with Stable Outlook. In a press release S&P notes that its assessment of MMK’s creditworthiness incorporates MMK’s low-cost production profile, strong operating efficiency, significant share of high value-added products in sales,…

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Ukraine: ferrous metals exports revenue up in January-November 2018

In January-November Ukraine increased revenue from the export of ferrous metals by 17% YoY, to $9.178 billion. Its share in the overall exports reached 21.22%. According to the State Fiscal Service, metal wares exports grew by 28%, to $1.024 billion (2.37%). At the same time Ukraine imported $1.3 billion worth of ferrous metals and $886.5…

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Russia: KZF to sell TZF products

Tikhvin Ferroalloys Works, a part of Yildirim Group, has transferred the exclusive rights to sell high-carbon ferrochromium in Russia to Klyuchevsky Ferroalloys Works, a part of MidUral Group. The high-grade ferrochromium is sold not only in Russia, but is also exported to Europe, USA, Japan and China. The new contract is an important step in…

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Ukraine: scrap exports down in January-November 2018

In January-November Ukraine exported 320 thousand tons of scrap, down by 28.6% YoY.

In November exports amounted to 3.8 thousand tons.

At the same time deliveries of scrap to local metal plants grew by 17.4%, to 3.04 million tons in 11 months. (Ukrainian metal)