Ukraine: Metinvest credit ratings upgraded following successful debt restructuring

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Metinvest B.V., the parent company of a vertically integrated group of steel and mining companies (“Metinvest”), announces that following the successful debt restructuring completed in March, international rating agencies Moody’s Investors Service (“Moody’s”) and Fitch Ratings (“Fitch”) have both upgraded Metinvest’s credit ratings to ‘Caa2’ (‘stable’ outlook) and ‘B’ (‘stable’ outlook), respectively. According to a…

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Russia: Kraszvetmet market share up in 2016

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In 2016 Kraszvetmet revenues totaled 19 billion rubles, with net profits at 432 million rubles.

Sales volume remained on the 2015 level.

The company shares on most of the markets showed growth in 2016: by 65% on gold, by 60% on silver and by 97% on platinum. (Ukrainian metal)

Ukraine: Metinvest denies buying DMK

Dneprovsky Iron and Steel Works, Metinvest Group of CompaniesLeave a comment

Metinvest denies information in mass media of buying Dneprovsky Iron and Steel Works, a part of the Industrial Union of Donbass. The group also reported canceling all its labor connections with employees on the uncontrolled territories, including the ex-CEO of Yenakievo Iron and Steel Works Alexander Podkorytov. “The contract with Podkorytov has not been prolonged.…

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Ukraine: Metinvest pays 14 billion UAH of taxes in 2016

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In 2016 Metinvest paid over 14.1 billion UAH of taxes to budgets of all levels.

According to the company statement, despite the increase in expenses and tariffs, as well as infrastructure problems and the ongoing military activity, the group was able to keep taxes paid on the level of 2015. (Ukrainian metal)

Russia: Vorkutaugol starts working on two new faces

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Vorkutaugol, a part of Severstal, has put into operation two new long faces at the Vorkutinskaya and Komsomolskaya mines.

The Vorkutinskaya long face reserves are estimated at 468 thousands tons of coal. The mining will be carried out until November.

The Komsomolskaya face has 856 thousand tons of coal, enough till March 2018. (Ukrainian metal)

Armenia to construct a magnesium works

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Armenian scientists are working on the new technique to produce magnesium. According to Vagan Lalayan, the head of the Ministry of economical development and investments department of investment policy, their partner is the Ecoatom company. “The company wants to construct a works to produce 1 thousand tons of magnesium per year. There are many ways…

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Ukraine: VostGOK profits up in 2016

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In 2016 Vostochniy Mining and Processing Works increased net profits 37.2-fold YoY, or by 480.617 million UAH, to 493.891 million UAH. According to the company statement, its net income dropped by 5.8%, or by 164.107 million UAH, to 2680.433 million UAH, while gross profit almost doubled, to 728.611 million UAH. As of December 31, 2016…

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Ukraine: Ceramet results of 2016

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In 2016 Ceramet processed and sold almost 1 million tons of scrap, with over 200 thousand tons delivered locally. European customers purchased 800 thousand tons of scrap, with Keramet Polska Sp. z o.o. supplying 60% of this volume and Keramet Hungary Kft – 40%. Last year the company invested 16.8 million UAH in the development…

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Ukraine: EMSS ships press table to ThyssenKrupp AG

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Energomashspetsstal has shipped the press table weighing 18.5 tons to Germany.

The customer is Gerlach GmbH, the daughter company of ThyssenKrupp AG, specializing in the manufacture of metal mills.

The contract was concluded in 2014. And the companies have been cooperating since then. (Ukrainian metal)

Belarus: rebars hit by Canadian antidumping duty

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According to the Canada Border Services Agency, the investigation on the import of steel rebars from Belarus, Taiwan, Hong Kong, Japan, Portugal and Spain has been completed.

The duties have been established at 2.4-108.5%.

The final decision will be taken by the Canadian International Trade Tribunal on May 3. (Ukrainian metal)

Ukraine: coal imports up in Q1 2017

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In January-March Ukraine imported 3646.205 thousand tons of coal valued at $569.631 million, with $212.041 million in March. According to the State Fiscal Service, Russia supplied $350.834 million worth of coal (61.59% of the total volume), USA – $102.166 million (17.94%), Canada – $43.707 million (7.67%), other countries – $72.924 million (12.8%). In monetary terms…

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Ukraine: scrap exports up in Q1 2017

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In January-March Ukraine exported 38.671 thousand tons of ferrous scrap, up 3.3-fold YoY, valued at $11.548 million, up 4.7-fold YoY. According to the State Fiscal Service, imports increased 2-fold YoY, to 8.720 thousand tons valued at $6.474 million, up 4.2-fold. The main suppliers were Turkey (80.72%), Moldova (12.51%) and Russia (5.48%), with the main customers…

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