Armenia: Zangezursky Copper-Molybdenum Works fined for 380 million drams

The reserves and ore content of the Kadzharan copper-molybdenum deposit have to be reevaluated. According to the Ministry of Environment, last time the reserves were evaluated in 2006. Zangezursky Copper-Molybdenum Works, which is developing the deposit, has not been keeping the annual registry of condition and movement of natural resources. In 2014-2017 the company was…

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Russia: Kosaya Gora net profit up in 2018

In 2018 Kosaya Gora Iron and Steel Works received 354 million rubles of net profit, up by 29% YoY.

Last year the company sold 13.74 billion rubles worth of products, up by 13% YoY.

Sales profit fell by 22%, to 570 million rubles. (Ukrainian metal)

Russia: stainless steel scrap exports up in 2018

In 2018 Russia exported 109.2 thousand tons of corrosion-resistant steel scrap valued at $120 million, up by 0.7% and by 13% YoY respectively.

This is also the highest result in 10 and 6 years respectively.

Scrap with nickel contents of 8% and more accounted for some 75% of exports. (Ukrainian metal)

Russia: Metalloinvest net profit up in 2018

In 2018 Metalloinvest received 1.647 billion rubles of net profit, up by 17.1% YoY.

Revenue grew by 15.3%, to 7.187 billion rubles.

The output of pellets and hot-briquetted iron reached 27.7 million and 7.8 million tons respectively.

EBITDA went up by 38.4%. (Ukrainian metal)

Ukraine: Interpipe Steel output down in January-February 2019

In January-February Interpipe Steel produced 132 thousand tons of steel, down by 11.4% YoY.

In February 61 thousand tons of steel were manufactured.

Last year the company produced 973.8 thousand tons of steel round billets, up by 15% YoY. (Ukrainian metal)

Russia: MMK domestic shipments up in 2018

Magnitogorsk Iron and Steel Works’ (MMK) shipments of commercial metal products to the domestic market, including CIS countries, amounted to 9.029 million tons in 2018. This represents an almost 6% increase from the previous year. This constitutes the second largest shipment volume to the domestic market since 2014, when the shipments of metal products amounted…

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Kazakhstan: AMT completes modernization of thermal department machinery

The sheet-rolling shop No. 2 of ArcelorMittal Temirtau has finished modernizing electric equipment of the thermal department.

The cost of the project is 73 million tenge.

The modernization consisted of several stages.

The work allowed decreasing electric energy consumption. (Ukrainian metal)