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On February 12, Moody’s rating agency upgraded MMK’s Issuer Rating to Baa2 from Baa3 with Stable Outlook. This action followed a sovereign rating action on the government of Russia, which took place on February 8, when Moody’s upgraded Russia’s long-term issuer and senior unsecured debt ratings to Baa3 from Ba1 and changed the outlook on…
DetailsInternational rating agency Moody’s has upgraded NLMK Group’s long-term credit rating from Baa3 to Вaа2 with a stable outlook (both are investment grade). The decision follows a rating action to upgrade Russia’s sovereign rating, which took place on February 8. Shamil Kurmashov, NLMK Group CFO, said: “We welcome Moody’s decision to upgrade NLMK’s rating. This…
DetailsWorld Class Manufacturing system (WCM) used in most of ArcelorMittal’s units will be implemented in all shops and departments of ArcelorMittal Kriviy Rih from 2019. WCM system is based on two main principles that are continuous improvements and losses elimination that give the company a number of advantages in innovation, quality, price, flexibility, delivery performance,…
DetailsIn 2018 Armenal produced 28.5 thousand tons of aluminum foil, down by 15.4% YoY. The decrease has to do with US sanctions on Rusal. Rusal combined output was 3753 thousand tons, up by 1.3% YoY. (Ukrainian metal)
DetailsIn 2018 aluminum ore mining increased by 26% YoY, to 6.1 million tons. The largest miner is Aluminiy Kazakhstana operating at Torgayskoye and Krasnooktyabrskoye bauxite ore groups. The company bauxite output last year grew by 14%, to 5.7 million tons. At the same time, in 2021 mining at the Torgayskoye group will be stopped. Raw…
DetailsIn H2 2018 the number of people employed in metal industry grew by 0.5%, to 189.7 thousand people. According to the State Statistics Service, average salary in the industry increased by 29% last year, to 12.496 thousand UAH. Metal companies also paid a lot of taxes, becoming major taxpayers. (Ukrainian metal)
DetailsIn 2018 Ukraine consumed 108 thousand tons of metal structures, up from 70 thousand tons in 2017. Output grew from 76 thousand tons to 109 thousand tons. Thus both consumption and output returned to the level of 2011-2012 – 106 and 109 thousand tons and 109 and 120 thousand tons respectively. The highest figures were…
DetailsIn January Chukotka Autonomous District mined 44 thousand tons of coal, down almost 2-fold YoY. Beringpromugol LLC and Shakta Ugolnaya are developing coal deposits in the region. Thus, Beringpromugol mined 28 thousand tons of coal, down by 46%, while Shakta Ugolnaya – 16 thousand tons, down by 50%. Last year coal output increased by 76%,…
DetailsNorilsk Nickel mines will receive 105 units of machinery this year. In particular, Oktyabrskiy mine will get 36 machines, Taymyrskiy – 31, Komsomolskiy – 30, Mayak – 7 and Kayerkanskiy – 1. Some machines have already been delivered. Thus Oktyabrskiy now has a new Caterpillar R 1700. Another machine will soon be delivered. The mine…
DetailsChusovoy Iron and Steel Works, a part of OMK, has started supplying car springs to Ford Sollers. The company has already shipped two batches of springs with the combined number of 800 pieces. “The preliminary work with Ford Sollers has lasted for several years. And this delivery is very important for us. The first two…
DetailsIn 2018 coal output in Ukraine dropped by 10% YoY. According to the Ministry of energy and coal industry, in particular power-generating coal mining went up by 4.9%, to 27.48 million tons. At the same time the output of coking coal decreased by 14.6%, to 58.1 million tons. (Ukrainian metal)
DetailsIn 2018 Severstal net profit grew 1.5-fold, to $2.051 billion. Revenue increased by 9.3%, to $8.58 billion due to the favorable price situation and sales growth by 2%. EBITDA went up by 21.9%, to $3.142 billion. Capital investments increased by 16.4%, to $688 million. (Ukrainian metal)
DetailsIn 2018 Interpipe increased sales of pipes and railroad products by 11.7% YoY, to 857 thousand tons. The share of exports was 72%, while that of the domestic market grew from 25% to 28%. Pipe sales increased by 12%, to 668 thousand tons. Deliveries to local market went up by 22%, to 179 thousand tons.…
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