Russia: ministries reject proposed windfall tax on metals and mining firms

Russian government ministries have agreed that a proposed windfall tax on metals, mining and chemical companies is inappropriate, Reuters reported citing Industry Minister Denis Manturov. “With colleagues from other ministries, we have reached a common position that as of today it’s inappropriate,” he told reporters on the sidelines of a military forum. The proposal, put…

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Russia: steel imports from Ukraine up in H1 2018

In January-June Russia imported 1.13 million tons of rolled steel and pipes from Ukraine, up by 47.8% YoY.

The share of bars and sections is around 55%, up 2-fold.

Flat rolled metal accounts for 32.9%, up by 1.4%, while pipes dropped 2-fold, to 3.3%. (Ukrainian metal)

Russia: gold output in Buryatia up in January-July 2018

In January-July the Republic of Buryatia extracted 2929.7 kg of gold, up by 7% YoY.

Ore gold accounted for 1983.9 kg, up by 4%, while alluvial gold output grew by 13%, to 945.8 kg.

Last year the region yielded 5677.9 kg of gold. (Ukrainian metal)

Russia: Severstal Steel Ropes enters second stage of special ropes manufacture development

The Volgograd subsidiary of Severstal Steel Ropes has started assembling three rope machines and four winding machines. The cost of the Italian machinery is some 2.5 million euros. The commissioning is scheduled for autumn. This is the beginning of the second stage of the project to develop special steel ropes manufacture. “A month ago we…

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Ukraine: electricity consumption in metallurgy up in January-July 2018

In July Ukrainian metal companies consumed 145 million cubic meters of natural gas, on the level of the previous month.

In 7 months gas consumption grew by 11%, to 1.08 billion cubic meters.

Electricity consumption in July totaled 6.9 billion kW-h, up by 11% YoY. (Ukrainian metal)