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The Abu Dhabi National Oil Company announced the award of multi-billion-dollar contracts for the procurement of casing and tubing. The combined scope of the three contracts awarded is one of the world’s largest in this category. The contracts, which were awarded to Consolidated Suppliers Establishment, representing Tenaris SA; Abu Dhabi Oilfield Services Company, representing Vallourec…
DetailsHere are five Fastmarkets MB stories you might have missed on Tuesday August 20 that are worth another look. Cobalt prices have risen by more than 25% since Glencore announced it would close its Mutanda mine and – in doing so – brought forward expectations of a shortfall in cobalt supply. Namibia-based tin mining company…
DetailsUS flat product steel prices have been in a steady state of decline since the mid-part of 2018. A gradual uptick in domestic capacity utilisation was a contributory factor to the price erosion. Imported volumes remain an influence, despite the protection of Section 232 measures. According to MEPS’ research, in July, the majority of US…
DetailsNLMK Group, a global steel company, has embarked on the assembly of main process equipment to implement the stamp charging technology at its operating coke oven battery at Altai-Koks, a leading Russian manufacturer of metallurgical coke. Instead of the conventional top charging method, stamped charging involves feeding compacted coal briquettes into the oven horizontally. Stamping…
DetailsMetalloinvest has commissioned a new reduction and calibration section for Rolling Mill 350’s mid-size production line at Rolling Unit #2 at OEMK (part of the Metalloinvest). Investment in the project totalled more than 600 mn roubles. The modernisation will enable the Company to increase production of high-quality rolled steel by 67,000 tonnes per year. The…
DetailsRUSAL (stock code at the Hong Kong Stock Exchange: 486, at the Moscow Exchange: RUAL), one of the world’s largest aluminium producers, and Tiocomposite signed a memorandum of intent to set test production of sulphur polymer concrete using alumina production waste in the Republic of Tatarstan, Russia. The details of the economic and organisational conditions…
DetailsBlueScope's plans to boost production at its United States mill shouldn't have any effect on the amount of Port Kembla-made steel exported to that country. During Monday's announcement of a $1.015 billion full-year profit, BlueScope CEO Mark Vassella announced plans to expand the capacity of its North Star steel mill in Ohio – on the…
DetailsIn January-July Severniy Mining and Processing Works increased pellets manufacture by 1.3% YoY, to 5.251 million tons. Concentrate output grew by 7.7%, to 7.12 million tons. In July SevGOK produced 816 thousand tons of pellets and 1.042 million tons of concentrate. (Ukrainian metal)
DetailsInternational ratings agency Fitch has improved the Petropavlovsk Plc long-term rating to B- from CCC, with positive outlook. The improvement reflects the considerable strengthening of the company liquidity due to the refinancing of convertible bonds, paying of $57 million worth of loans by IRC Limited, etc. At the same time Fitch noted that financial and…
DetailsChelyabinsk Iron and Steel Works is increasing rail and beam mill product range – the company has mastered the manufacture of a new channel for the construction industry. A trial batch of the 30P channel has been produced. The product quality corresponds to GOST 8240. The first batch of 20 tons has been shipped to…
DetailsDonskoy Antrazit, a part of Ukrainian DTEK, in 2018 received 709.3 million rubles of net debt as opposed to 453 million rubles of net profit in 2017. Revenue grew by 2%, to 2.1 billion rubles. Gross profit fell by 21.7%, to 475.4 million rubles, and sales profit by 27.3%, to 313 million rubles. EBITDA was…
DetailsIn 2018 Obukhovskaya Mine Group, a part of Ukrainian DTEK, decreased net profit by 7.1% YoY, to 2.2 billion rubles. Revenue grew by 21.3%, to 13.7 billion rubles. Sales profit went up by 28.9%, to 4.1 billion rubles, while EBITDA dropped by 5.6%, to 2.8 billion rubles. The company accounts receivable increased from 1.3 billion…
DetailsArcelorMittal Kriviy Rih will invest over 10 million UAH in the construction of a gas pipeline with the length of 3.8 km. After the construction the pipeline will be surrendered to the Krivorozhgas gas company free of charge to supply gas to over 35 thousand consumers in the Dolgintsevsky and parts of Metallurgichesky and Inguletsky…
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