At the Annual General Shareholders’ Meeting (AGM) held on April 19, NLMK shareholders voted to confirm Grigory Fedorishin as the group’s President and Chief Executive Officer; and to elect a new Board of Directors, with a majority of independent directors (five seats out of nine). Nine members of the Board of Directors were elected: Vladimir…Details
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Local workers at Altynken held a strike demanding to increase their wages. The information was confirmed by the First Deputy Director of the company Turusbek Akmatov. At least 5-6 people did not come to lunch a day before in protest against the fact that their wages were not increased. Some other people held a rally…Details
The Antimonopoly Committee of Ukraine has allowed Metinvest to buy over 50% shares of Dneprovsky By-Product Coke Plant. In particular, the AMKU decision says that Private Limited Liability Company Metinvest BV, the Netherlands, has been granted the right to purchase shares of the Dneprovsky Coke Plant, as a result of which the share of the…Details
The mining and metallurgical complex of Ukraine expects no critical consequences from the new limitations of coal supplies to Ukraine, as well as imports of some metal products, including pipes. According to Ukrkoks CEO Anatoliy Starovoyt, limitations cover power-generating coal in the first place, and not coking coal. “So we see no special problem here.…Details
Since the start of the year, Kuzbass coal companies have extracted 60.8 million tons of coal, up by 1.2 million tons YoY. Open pits yielded 40.2 million tons, and mines – 20.6 million tons. Coking coal accounted for 19.2 million tons, and power-generating coal – 41.6 million tons. In March the region extracted 21.3 million…Details
Chelyabinsk Iron and Steel Works has produced for the construction of a lyceum for 1,000 pupils in the town of Abakan. The size of the building will be 23.3 thousand square meters. ChMK rebars are characterized by high quality. They are widely used in construction. (Ukrainian metal)Details
Ural Metal-Processing Company LLC has started carrying out a project to increase the portfolio of the steel sections it manufactures. In particular, the company will start producing T-shaped galvanized sections, as well as section elements used in the manufacture of fences. The commission of the manufacturing line is scheduled for May-July. The sizes of the…Details
In January-March, Electrocable increased output by 30% YoY, to 156 thousand km of cable and wire. The increase in the output is mostly due to modernization and new machinery purchase last year. Thus, in 2018 the company modernized 5 manufacturing lines in the shop No. 5. (Ukrainian metal)Details
In March Electrostal (Kurakhovo, Donetsk region) resumed operation having produced 11 thousand tons of continuous cast billet. In January-March the enterprise was idle, while in Q1 2018 it produced 71 thousand tons of billets. The reason for the company downtime was the growth of ferrous scrap prices, which made billets manufacture unprofitable. In 2018 Electrostal…Details
Zaporizhstal intends to restore up to 5 locomotives each year. “We are restoring our railroad fleet. This is the fifth locomotive returned to life in a year and a half. As efficient, environmentally friendly and comfortable, as a new one. But 7 times cheaper”, the company CEO Rostislav Shurma said. In January Zaporizhstal reported that…Details
Russia has prohibited imports of some types of pipes from Ukraine. In particular, the prohibition covers seamless pipes, tubes and hollow sections, made of ferrous metals, except for pig iron, including of corrosion-resistant steel, round pipes of iron or unalloyed steel, as well as square and rectangular pipes. Moreover, the import of some types of…Details
Precious metal prices increased in Azerbaijan on April 19 compared to the prices on April 18. The price of gold grew by 6.29 manats, to 2,169.1405 manats per ounce. The price of silver went up by 0.1215 manats, to 25.53 manats per ounce. The price of platinum increased by 33.881 manats, to 1,535.168 manats, and…Details
The board of directors of the Russian steelmaker Severstal recommended paying 35.43 rubles per share, or a total of about 29.68 billion rubles, in dividends for January–March, the company said. The shareholders will consider the recommendation at an extraordinary general meeting scheduled for June 7, the register for the meeting will close on May 13,…Details