Severstal will buy a Korean compressor for Cherepovets Iron and Steel Works. The first deliveries of equipment are scheduled for autumn. The goal of the investment project is to decrease electricity consumption while producing air buy using energy efficient compressors. The assembly of the compressors will be finished next year. The total cost of the…Details
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The gold and silver prices decreased in Azerbaijan on March 15. The price of gold dropped by 8.5425 manats, to 2,206.804 manats per ounce compared to the price on March 14. The price of silver went down by 0.165 manats, to 25.9619 manats per ounce. The price of platinum fell by 9.265 manats, to 1,410.048…Details
In January Russia exported 3.355 million tons of ferrous metals, down by 1.1% YoY. According to the Federal Customs Service, semi-finished steel products accounted for 1.306 million tons, up by 9.3%, and flat rolled metal – 0.652 million tons, down by 10.5%. In monetary terms ferrous metals exports decreased by 6.6%, to $1.567 billion. With…Details
In January-February Ukraine exported 2.6 million tons of ferrous metals via seaports, down by 3.8% YoY. In particular, the export of pig iron fell by 19.9%, to 389.04 thousand tons, scrap – by 47.5%, to 10.17 thousand tons, and rolled metal – by 10.2%, to 1.6 million tons. At the same time ore exports grew…Details
From May 1, ArcelorMittal Kriviy Rih intends to increase wages of its employees by 15-20%. 2018 was a difficult year for the company, as a roof of the converter shop caved-in, the blast furnace No. 9 reconstruction took longer than planned and difficulties with logistics resulted in a 22% drop in steel output. Moreover, the…Details
Seligdar has made a decision to construct a gold-extracting factory at the Khvoynoye deposit in the Republic of Sakha (Yakutia). The factory using the technique of direct cyanidation will increase gold extraction by 20% compared with heap leaching. While heap leaching allows extracting 75% of gold, cyanidation will increase this level to 90%. The technique…Details
The Western Court of Appeals has left unchanged the ruling of the Commercial Court of the Lviv region dated May 24, 2018, on the opening of proceedings on the bankruptcy of the Lviv Coal Company. The corresponding claim was filed by Alfa-Bank demanding the return of 11.16 million UAH. The state represented by the regional…Details
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…Details
According to Chelyabinsk Zinc Works commercial department director Alexander Pechenkin, in 2018 the zinc shortage on world market in 2018 was some 348 thousand tons. Its reserves dropped by 143 thousand tons, to 880 thousand tons. This year, compared with 2016, the forecast growth of zinc consumption in Russia will reach 20%. The zinc shortage…Details
Russia has asked the World Trade Organization (WTO) to form an arbiter panel in its dispute with the E.U. on the union’s anti-dumping duty on cold-rolled steel imports, the Economic Development Ministry said. The duties, introduced in 2016, amount to 18.7% for products of Magnitogorsk Iron and Steel Works (MMK), to 34% for Severstal, and…Details
Crispian Investments, owned by tycoon Roman Abramovich and his partners, has no plans to sell more shares in Russian metals giant Norilsk Nickel, Crispian’s co-owner Alexander Abramov said. On March 12, a financial market source said that Crispian offered a 1.7% stake in Norilsk Nickel for about $560 million, or about 13,450 rubles per share.…Details
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)Details