In May Metipol LLC will put into operation a plant to produce polymer-coated rolled metal in the city of Pervomaisk. This means that the Alchevsk-based Metal and Polymers Works will resume operation on Ukraine-controlled territory. As raw materials Turkish galvanized coils will be used, The annual capacity of the enterprise will be 78 thousand tons…Details
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Ukrainian manufacturers of galvanized rolled metal await the implementation of the preliminary protective measures on the import of these products from China and Russia. According to the executive director of the Ukrainian Center of Steel Construction, Vyacheslav Kolesnik, in August-September 2018 the imports of Chinese galvanized metal reached their peak, but after that dropped sharply.…Details
Interpipe has appointed Sergey Kostenko the chairman of the board of Interpipe Nizhnedneprovsk Pipe Works from February 5. He has been an acting chairman since June 28, 2018. Kostenko started working at Interpipe NTZ in 1995 in the pipe-rolling shop No. 3. Since 2010 he has been heading the repair department, and since 2013 he…Details
In Q4 2018 MMK revenue decreased by 6.2% QoQ, to $1962 million. EBITDA fell by 20%, and the margin was 27.4%. Net profit totaled $245 million. In 2018 revenue increased by 8.9% YoY, to $8214 million, mostly because of the average price growth (by 8% or by $46 per ton). EBITDA went up by 19%,…Details
The Ministry of Finances proposes canceling VAT on gold in ingots, as investment in precious metals is a good way for accumulation. Now people have to pay a 20% VAT when buying ingots from banks. While when selling ingots, the VAT is not returned, which makes purchase less attractive. Hence the low demand – some…Details
ArcelorMittal Temirtau has received new machinery for its converter shop continuous casting machines Nos. 1 and 2. The new equipment – segments, crystallizers and benders – was purchased in Italy from Danieli under an investment project. “This project will improve the working conditions of both machines and the quality of the billets”, the company said.…Details
An expert commission has finished evaluating the assets of Ufaleinickel. The company went bankrupt some 18 months ago. The auction could be held in summer. The combined cost of the lots is around 1 billion rubles. Two investors are already mulling the purchase of the works. (Ukrainian metal)Details
The arbitrary court of the Volgograd region has prolonged the bankruptcy proceedings at the Krasniy Octyabr works from February 10 for 4 months. Thus, the petition of the proceedings manager Alexander Lyubimenko has been partially met. He claimed the enterprise received assets valued at 487 billion rubles – 854 ordinary shares. Now they need to…Details
NLMK-Kaluga has started producing a new type of metal for construction – 100 mm-long channels with parallel sides. A batch of 3 thousand tons has been shipped to customers in the Central Federal District. Imports in the segment in 2018 reached 32%, up by 6% YoY. (Ukrainian metal)Details
Chelyabinsk Pipe Rolling Plant has provided a loan of 1.14 billion rubles to a company it controls – Meta. The agreement was signed on February 5. The funds have to be returned not later than on June 30, 2020. Meta provides ChTPZ with scrap. (Ukrainian metal)Details
Gold producer Nordgold, controlled by the Russian tycoon Alexei Mordashov, plans to invest more than $360 million over the next 15 years in development of the Lefa mine in the Republic of Guinea. “Nordgold is pleased to announce that a new mining permit will be effective starting from March 21. The new permit as well…Details
In 2018, demand for steel continued to recover, coupled with a rise in protectionism in key markets. “In this context, NLMK Group’s flexible business model that helped it secure its presence in key sales markets, enabled the company to grow its sales by 7% YoY, or by 1.1 million tons, to 17.6 million tons, hitting…Details
Residents of Akolon village in Ton district of Issyk-Kul region oppose development of Tash-Bulak uranium deposit, local activist Akzholtoi Tukunov reported. According to him, the villagers intend to hold a rally against the development of the uranium deposit. “Villagers are concerned about the health, the future of our children, since we do not know how…Details