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The new continuous hot-dip galvanizing unit No. 3, built by Magnitogorsk Iron and Steel Works (MMK) in 2017, produced 334.6 thousand tons of galvanized metal in 2019. A year earlier, the unit produced 278.9 thousand tons of galvanized steel. As such, it is very close to the design capacity of 360 thousand tons per year.…
DetailsInternational rating agency Moody’s has affirmed the corporate family rating of Russian oil and gas pipe producer TMK at B1 and the company’s default rating probability at B1-PD, and improved the outlook to Positive from Stable, the agency said in a statement. “Our decision to change the outlook on TMK’s ratings to Positive mainly reflects…
DetailsIRC Ltd, the iron ore division of Petropavlovsk Plc, which operates gold deposits in Russia, raised its iron ore concentrate output by 12.5% QoQ, to 695,431 tons, in October-December 2019, the company said in a statement January 23. In 2019, production rose by 15.3% YoY, to 2.576 million tons. Sales of iron ore concentrate went…
DetailsMining, drilling and blasting operations will be resumed at Kumtor gold mine in the coming days, the Chairman of the Central Committee of the Mining and Metallurgical Trade Union Eldar Tadzhibaev has announced. According to him, Kumtor Gold Company CJSC received the necessary permission from the state bodies. The State Committee for Industry, Energy and…
DetailsIn 2019 Ukraine decreased ferroalloys exports by 7.8% YoY, to 833.608 thousand tons, valued at $910.172 million, down by 6.9%. According to the State Customs Service, the main customers were Italy (17.44%), Turkey (16.13%) and the Netherlands (9.61%). Last year Ukraine imported 44.411 thousand tons of ferroalloys, down by 26.4% YoY, valued at $130.522 million,…
DetailsBalakovo Iron and Steel Works intends to start producing rails. Having evaluated the possibilities of the enterprise, the new owner – Abinsk Electrometallurgical Works – has decided to construct a new shop to produce rails and beams. The company might start producing 100-meter rails. At present only two plants produce them, thus, the demand is…
DetailsThe property of the bankrupt Ufaleinickel has been put up for sale for 568 million rubles. Ufaleinickel was a city-forming enterprise, employing 2.5 thousand people. The operation was suspended because of the low price of products. The initial price of the auction is 568.699 million rubles. It will decrease by 10% each 10 calendar days…
DetailsKorolevsky Pipe Works has modernized the equipment at its manufacturing and warehouse complex in the town of Togliatti. The range of round electric-welded pipes has been added to the product mix. From now on the company offers round pipes with diameter of 57 to 89 mm and the wall thickness of 3 to 4 mm.…
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