Uchaly Mining and Processing Works power shop has finished the construction of a switching substation 6 kW with 19 units at the electric substation No. 63 “Shakhty”. The commissioning of the switching substation will be the first stage to expand the “Shakhty” to provide a new mine and the second stage of the waste treatment…
DetailsRostov region police have found a large-scale fraud connected with metal market. An ex-director of a closed company dealing in metal and metal ore wholesale has concluded a fictitious contract with a foreign company to supply ferroalloys raw materials. But instead of the expensive raw materials metal waste was shipped. After that the ex-director filed…
DetailsAn extraordinary shareholders meeting at Norilsk Nickel decided to pay 776.02 rubles of dividends per ordinary share (some $11.37) for the first half of 2018. The total amount of funds to be paid as dividends is 122.8 billion rubles (around $1.8 billion). (Ukrainian metal)
DetailsThe Eurasian Economic Committee suggests prolonging the current antidumping duties against Chinese seamless pipes of stainless steel for 5 more years. The duties target seamless, cold-drawn or cold-rolled ferrous pipes, tubes and hollow sections of corrosion-resistant steel manufactured by Chinese companies and imported to the territory of the EEU from China and Malaysia. The current…
DetailsChief Executive Officer of PJSC ArcelorMittal Kriviy Rih and member of the Board of European Business Association (EBA) Paramjit Kahlon mentioned five main challenges foreign investors faced with in Ukraine in his opinion. “First thing required for stable performance of big international companies is investor-friendly attitude within the whole period of their activity. They should…
DetailsPrices of precious metals increased in Azerbaijan on September 21, according to the data published by the Central Bank. The price of gold grew by 6.4515 manats, to 2,056.014 manats per ounce on September 21 compared to the price on September 20. The price of silver went up by 0.0974 manats, to 24.454 manats per…
DetailsThe U.S. Treasury’s decision that Russian aluminum giant UC RUSAL can enter new transactions with existing customers in 2019 is likely to stabilize aluminum prices as it removes some uncertainty over the company’s metal deliveries, international rating agency Fitch said in a statement. “The sanctions against RUSAL are among the main short-term drivers for global…
DetailsThe foil-rolling plant Rusal Armenal has started decreasing output capacities and transferring employees to part-time work. The reason is the drop of demand for Armenal products because of the US sanctions against Rusal. Armenal has 670 employees, by the end of September 184 of them will have been receiving only two third of salary due…
DetailsMiners plan to hold a strike demanding from the authorities, among other things, the dismissal and criminal prosecution of the minister of energy and coal industry Igor Nasalik. “The miners are prepared to march to Kiev in a week. They are making addresses to members of the parliament and the prime minister”, a parliament member…
DetailsThis year Khabarovsk region intends to set a new historical record on gold extraction – 23950 kg. The initial annual plan was 23450 kg. But now the Ministry of the natural resources believes that actually 500 kg more will be extracted. In particular, gold ore mining companies are expected to increase output by 400 kg.…
DetailsSeverstal – Bar Works Balakovo has mastered a new product – steel of the grade 20 to produce wire rod with the diameter of 6.5 mm. The produced rolled metal fully corresponds to the requirements of GOST 10702. This rolled metal is used by Severstal-Metiz to produce wire according to STO 71915939-TS151. “The manufacture of…
DetailsKarelsky Okatysh has finished modernization of the preparation and pelletizing of concentrate site – all the 18 screening machines have been replaced. The roll screens classify concentrate by three sizes: tiny pellets at the initial stage are returned to the pelletizers, large pieces go back via conveyers, while normal-sized pellets are transported to the roasting…
DetailsIn August Ukraine imported $2.849 million worth of ferrous scrap, up by 53.2% YoY. According to the State Fiscal Service, exports dropped by 66.1%, to $5.826 million. Ukraine mostly exported scrap to Turkey ($5.504 million). In January-August scrap exports grew by 69.9%, to $98.244 million, while imports by 57.1%, to $24.858 million. (Ukrainian metal)
DetailsInterpipe is conducting negotiations with its creditors on restructuring its $1.25 billion debts. “The negotiations are underway. We have officially stated our suggestions on restructuring. Our creditors are thinking. They are gathering together and discussing our offers”, the company CFO Denis Morozov said on the sidelines of InnoTrans-2018 in Germany. He noted that there were…
DetailsIn January-July Russia imported 26.8 thousand tons of corrosion-resistant steel pipes valued at $101 million, up 2.7-fold and 1.5-fold YoY respectively. According to the customs statistics, this is the highest result in the past years. The main supplier is Kazakhstan (57%), followed by China (22%) and Ukraine (6%). The main share in the imports falls…
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