Russia: Fitch improves Metalloinvest ratings

Fitch Ratings has improved Metalloinvest ratings to BB+ with stable outlook from BB positive. The move reflects the strong operational profile of the company with the strategic focus on high-added value products, competitive position, considerable liquidity, and increase of financial indexes, as well as takes into account of the company progress in improving corporate management.…


Ukraine: EMSS ships hammer frame to Germany

Energomashspetsstal has shipped a large hammer frame to Germany.

The frame was shipped under the contract with LASCO Umformtechnik GmbH.

The weight of the frame is 61 tons.

This is the 17th hammer frame produced by EMSS for LASCO Umformtechnik GmbH.

The next frame will be shipped in October. (Ukrainian metal)

Russia: Susumanzoloto profit down on 2018

In 2018 Susumanzoloto, extracting gold in Murmansk region, decreased net profit by 30.1% YoY, to 1.261 billion rubles.

Revenue grew by 21.05%, to 16.217 billion rubles, including 16.075 billion from the sale of gold.

The company sold 6072.9 kg of gold last year as opposed to 5415 kg in 2017. (Ukrainian metal)

Ukraine: PGOK income up in 2018

In 2018 Poltava Mining and Processing Works increased net income by 10.3% YoY, to 22.472 billion UAH.

Net profit grew by 22.8%, to 5.237 billion UAH.

EBITDA went up by 0.7%, to 6.076 billion UAH.

Undistributed profit totaled 6.537 billion UAH. (Ukrainian metal)

Ukraine: Marganets GOK profit down in 2018

In 2018 Marganets Mining and Processing Works received 163.2 million UAH of net profit, down 5-fold YoY.

EBITDA decreased 4.9-fold, to 203.387 million UAH.

Last year MGOK received 3.109 billion UAH of net profit, down by 15%.

Undistributed profit totaled 698.543 million UAH. (Ukrainian metal)

Ukraine: manganese ore imports up in Q1 2019

In January-March, Ukraine increased manganese ore imports by 50% QoQ, to 360 thousand tons.

In particular, Ghana supplied 76% of the ore (275.6 thousand tons), Russia – 16%, or 56.8 thousand tons and Georgia – 8%, or 28.5 thousand tons. (Ukrainian metal)

Russia: Rusal output down in Q1 2019

In January-March, Rusal decreased aluminum manufacture by 0.3% YoY, to 928 thousand tons. Siberian plants accounted for 93% of the aluminum manufactured. Sales totaled 989.6 thousand tons, with high-added value products sales down by 22.2%, to 259 thousand tons. Average price decreased by 7.8% QoQ, to $1949 per ton. Aluminum foil and packaging production dropped…


Ukraine: miners wage arrears at 400 million UAH

The salary debt to miners exceeds 400 million UAH.

“Recently a decision has been taken to transfer some funds from the state budget to clear the debt. I believe soon the wage arrears will be paid”, deputy minister of energy and coal industry Anatoly Korzun declared. (Ukrainian metal)

Russia: Kolmar largest coal shipper in Yakutia

Kolmar will be the main coal shipper in Yakutia via railroad in 2019, as it intends to transport 6.8 million tons.

Thus, average monthly volumes will be 550 thousand tons.

Regional railways plan to transport 7.6 million tons of cargo this year, up by 38% YoY. Thus, Kolmar will account for 89.5%. (Ukrainian metal)

Russia: RZOTsM gets unique pipe-drawing mill

RZOTsM has assembled a pipe-drawing mill manufactured by Irkutsk Heavy Machinery Works.

The mill has been specifically designed for Revda Works to produce cold-drawn pipes with the diameter of 100 to 310 mm of copper and copper alloys.

All the assembly work has been completed. (Ukrainian metal)

Ukraine: Yuzhkoks profits in 2018

In 2018 Yuzhkoks increased its net income by 33.9% YoY, to 4.536 billion UAH. Net profit totaled 23.516 million UAH as opposed to 5.363 million UAH of net losses in 2017. EBITDA grew 18-fold, to 29.715 million UAH. Undistributed profit as of late 2018 totaled 483.916 million UAH. The company current liabilities increased 14.1-fold, to…


Ukraine: AMKR not to pay dividends for 2018

The shareholders of ArcelorMittal Kriviy Rih decided to spend all the profit of 2018 on the development of the company.

Last year the company increased its net profit almost 2-fold, or by 84.2%, to 9.51 billion UAH.

Net income grew by 3%, to 68 billion UAH. (Ukrainian metal)