Russian aluminum producer RUSAL is reregistering the business in a special administrative zone in Kaliningrad, Yelena Bezdenezhnykh, vice-president for regional policies and government relations, said at the St. Petersburg International Legal Forum. “RUSAL is relocating to Kaliningrad, as you know, there is reregistration,” Bezdenezhnykh said. “In this case this is one of the good examples…Details
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Metalloinvest has in advance bought a part of its bonds issued in 2013 with maturity in 2020. In order to optimize its loan portfolio, the company using its own funds has bought back bonds valued at $62.114 million. Thus, there are now bonds valued at $270.615 million with maturity in April 2020 in free float.…Details
Ukrainian Railways will soon announce new trade in scrap in the ProZorro system. “In early May, Ukrzaliznytsia announced 8 auctions in the ProZorro system. 1 auction was cancelled due to a technical error, while there were no bids on the other 7 auctions”, the company reported. Ukrzaliznytsia intends to reform the lots and announce new…Details
On May 16, 4 auctions to sell scrap via the ProZorro system, organized by Ukrzaliznytsia, did not take place. The Ukrainian Railways intended to sell 8.7 thousand tons of scrap for 50.5 million UAH, 4.5 thousand tons for 25.3 million UAH, 7 thousand tons for 44.6 million UAH and 16.2 thousand tons for 103.7 million…Details
Precious metals prices decreased in Azerbaijan on May 17 compared to the prices of May 16. The price of gold fell by 17.034 manats, to 2,187.0500 manats per ounce. The price of silver dropped by 0.4213 manats, to 24.7221 manats per ounce. The price of platinum went down by 27.302 manats, to 1,412.2070 manats per…Details
Employees of Georgian Steel LLC, created on the basis of the Rustavi Iron and Steel Works, have started striking demanding their wages to be increased and labor conditions improved. According to them, the wage level has not been changed for 12 years, with the average salary being 570 lari ($206). The strikers demand their wages…Details
The Ministry of Economic Development has granted the status of the resident of the Prokopievsk Advanced Development Zone to the Prokopievsk Casting Plant LLC. The company intends to produce cast billets of steel and pig iron for machine building, processing factories, agriculture, etc. The total cost of the project is 7 million rubles. 20 new…Details
In April, the Far Eastern Railroad transported 3.95 million tons of cargo, down by 2% YoY. In 4 months transportation decreased by 0.4%, to 16 million tons. In particular, the railroad transported 768 thousand tons of iron and manganese ore, up by 12.7%, 522 thousand tons of non-ferrous metals ore (+44%), 382 thousand tons of…Details
Karabashmed has put out of operation the last of the three 60-ton converters. They are replaced by new Kumera machinery with the capacity of 150 tons each. Soon the old converters Nos. 2 and 3 will be disassembled. Two new converters have already been commissioned. (Ukrainian metal)Details
The net profit of the Russian titanium giant VSMPO-Avisma soared by 70%, to 6.996 billion rubles in January-March, as calculated under Russian Accounting Standards (RAS), the company said. Revenue increased by 13.6%, to 20.486 billion rubles, and gross profit by 3%, to 7.289 billion rubles. The pretax profit grew by 70%, to 8.737 billion rubles.…Details
Uralmashzavod has started producing its largest excavators – EKG-35. In April the company concluded an agreement to supply two such machines to Kuzbassrazrezugol. One more excavator will be produced for an undisclosed Russian coalmining company. The first version of the excavator was produced in late 2017, and in spring 2018 it was put into operation…Details
Beloretsk Iron and Steel Works has confirmed the certificates of correspondence of its welded rebar mesh for ferroconcrete structures in the Mosstroysertifikatsia system. The use of such mesh in construction improves the quality of the structures. The experts have analyzed the mesh manufacture at BMK, checked the operation of the machinery and equipment as well…Details
The Ministry of Economy has estimated the possible losses of exporters in case Egypt imposes protective measures at $400 million. A special note has been sent to the Egyptian ministry. The document contains reports confirming the absence of facts testifying to the damage to the Egypt’s steel industry. Egypt announced its intention to impose protective…Details