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Gold, silver and platinum prices decreased in Azerbaijan on May 21 compared to the prices of May 20. The price of gold dropped by 1.3515 manats, to 2,168.6475 manats per ounce. The price of silver fell by 0.0007 manats, to 24.5459 manats per ounce. The price of platinum went down by 6.154 manats, to 1,393.915…
DetailsIn January-April, Kazakhstan increased copper output by 8.8% YoY, to 149.5 thousand tons. Raw zinc manufacture totaled 108.2 thousand tons (-1.5%), zinc concentrate – 69.2 thousand tons (-34.2%), aluminum – 528.7 thousand tons (-9.1%), ferroalloys – 706.8 thousand tons (+6.7%), lead concentrate – 29.8 thousand tons (-3.6%) and lead – 45.1 thousand tons (-12.5%). Gold…
DetailsThe melting-foundry complex of VSMPO-Avisma has disassembled its Retek plasma furnace melting chamber. This is the largest plasma furnace in the world. Preparatory work lasted for 3 days. Now the chamber has to be moved out of the shop. In the shop No. 41 the company will separate ferrous metal of the chamber from the…
DetailsBar Works Balakovo has set a new record of using steel ladles. The previous record of 127 meltings on average (2018) was exceeded to 133 meltings. At the same time the maximum number of meltings reached 201 (189 in November 2018). This is a record not only for the works, but for all other Russian…
DetailsMoscow Industrial Bank wants to declare the Krasniy Sulin Iron and Steel Works bankrupt. The works owner Ramzan Isayev plans to invest 52 billion rubles in the rolling line with the capacity of 1.5 million tons of metal per year. The investor owes the bank over 2.11 billion rubles, while the project is still in…
DetailsFerrexpo AG will squeeze out Poltava Mining and Processing Works shares from minority shareholders. The price of each share will be 34.24 UAH with their nominal cost of 9.96 UAH. Ferrexpo AG owns 189,313.087 million ordinary shares, or 99.11% of PGOK. (Ukrainian metal)
DetailsUkraine has started an antidumping investigation on the import of steel seamless hot-deformed pipes from China. The investigation was initiated by Interpipe Niko Tube. The Ministry of Economical Development and Trade has been tasked with the investigation. (Ukrainian metal)
DetailsPavel Vasev, Head of Procurement at Magnitogorsk Iron and Steel Works (MMK), became the winner of the “Best Procurement Director” award for 2019. Large-scale changes in procurement activities carried out at MMK have significantly improved the efficiency of the company’s supply chain. This is the second year in a row that the rating of procurement…
DetailsIn early March, Darasunsky Mine LLC put into operation its processing factory in Tungokochensky district of Zabaikalye region in test mode. The project to process Darasun ores is in the development. By Q3, the company plans to have commissioned the full cycle of processing. So far the factory has processed 3973 tons of ore and…
DetailsAs of May 1, Magadan region has extracted 9065.1 kg of gold and 213.4 tons of silver. Gold output grew by 3404.3 kg YoY, while silver fell by 16.8 tons. Tenkinsky city district yielded the most ore gold – 6171.5 kg, while alluvial gold was extracted in Susuman, Yagodinsky and Tenkinsky districts. Omsuchanksy district was…
DetailsKyshtym Electrolytic Copper Plant has assembled two bridge remote-controlled cranes in its copper foil shop, which is currently under construction. The new machinery with the lifting capacity of 10 tons was produced by Verta. When the two cranes are commissioned, the two old 5-ton cranes will be disassembled. (Ukrainian metal)
DetailsSeverstal and the Italian company Tenaris will have started constructing the joint venture to produce welded pipes for oil and gas industry in Surgut by early 2020. The capacity will reach 300 thousand tons per year. The joint venture is expected to be created in 2 years. On May 13, the deal was approved by…
DetailsOn May 16, the Dnepr District Administrative Court opened a case on the claim of ArcelorMittal Kriviy Rih to the Office of major taxpayers of the State Fiscal Service. The company wants to cancel the office decision obliging it to pay 114.6 million UAH of profit tax and 57.3 million UAH of fines. In February,…
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