Russia: Korshunovsky GOK profit up in Q1 2019

In January-May, Korshunovsky Mining and Processing Works received 1.227 billion rubles of net profit, up 5.7-fold YoY. Revenue grew 2.2-fold, to 3.675 billion rubles. Gross profit increased 18.5-fold, to 1.572 billion rubles. Fixed liabilities dropped from 352.6 million rubles as of December 31, 2018, to 337.8 million rubles, while current liabilities grew from 2.047 billion…

Details

Russia: Metalloinvest elects new board of directors

Metalloinvest has elected a new board of directors. In particular, the board now features Ivan Streshensky (chairman), Andrey Varichev, executive director, Vakhtang Kocharov, executive director, Pavel Mitrofanov, non-executive director, Gleb Kostikov, non-executive director, Irina Lupicheva, non-executive director, Valeriy Kazikayev, independent non-executive director, Galina Aglyamova, independent non-executive director, and Dmitry Tarasov, independent director. Vakhtang Kocharov has…

Details

Russia: MMK output down in Q1 2019

In January-March, MMK decreased steel output by 1.3% YoY and by 0.2% QoQ, to 3.107 million tons. Pig iron manufacture decreased by 0.3% YoY and by 6.3% QoQ, to 2.396 million tons. Sales dropped to 2.782 million tons, by 5.2% QoQ and by 1.6% YoY. High added value products sales in Q1 remained almost on…

Details