Ukraine: 2 miners perish at Sukhaya Balka mine

2 miners have perished at the Yubileynya mine of Sukhaya Balka.

The accident happened at 7 a.m. after a night shift at the depth of 1340 meters. The miners died of gas.

The bodies are still in the mine. The conditions of the accident are being determined. (Ukrainian metal)

Kazakhstan: metal output down in January 2019

According to the Statistics Committee of the Ministry of the National Economy, in January Kazakhstan produced 223.8 thousand tons of steel, down by 41.3% YoY.

Flat rolled metal manufacture dropped by 72.3%, to 69.932 thousand tons.

Ferroalloys output grew by 5.4%, to 180.573 thousand tons. (Ukrainian metal)

Russia: Moody’s upgrades Severstal to Baa2 with stable outlook

Severstal, one of the world’s leading vertically integrated steel and steel-related mining companies, announces that Moody’s has upgraded its rating on Severstal to Baa2 from Baa3 and changed its outlook from positive to stable. Moody’s also raised Russia’s country ceilings for foreign currency debt to Baa2/P-2 from Baa3/P-3 and the ceilings for local currency-denominated debt…


Armenia: PM reveals bizarre story surrounding VTB Bank – Vallex Group dispute over copper mine

PM Nikol Pashinyan has presented details surrounding the existing situation at the Teghut Copper and Molybdenum Mine (Lori province) and the Alaverdi Copper Smelting Plant. Speaking in parliament, the PM presented how the situation developed in the first place. According to Pashinyan, the VTB Bank lent $380 million to the Teghut mine and Vallex Group,…


Russia: ChTPZ pipes sales down in 2018

In 2018 the ChTPZ pipes enterprises – Chelyabinsk Pipe-Rolling Works and Pervouralsky Novotrubniy Works – sold 1.92 million tons of pipes, down by 3.7% YoY. The decrease is due to the completion of large diameter pipes deliveries for the Nord Stream-2 construction. Deliveries to the Russian market grew by 1.2%, to 1.42 million tons, including…


Russia: BZF output up in 2018

In 2018 Bratsk Ferroalloys Works increased ferrosilicon sales by 10% YoY, to 76 thousand tons.

In particular, ferrosilicon FS 65 accounted for 54 thousand tons and FS 65 – 22 thousand tons.

The main customers of the company are Mechel enterprises and Japanese companies. (Ukrainian metal)

Russia: Moody’s Upgrades MMK to Baa2

On February 12, Moody’s rating agency upgraded MMK’s Issuer Rating to Baa2 from Baa3 with Stable Outlook. This action followed a sovereign rating action on the government of Russia, which took place on February 8, when Moody’s upgraded Russia’s long-term issuer and senior unsecured debt ratings to Baa3 from Ba1 and changed the outlook on…