The prices of precious metals varied in Azerbaijan on February 8. The price of gold increased by 7.523 manats, to 2,225.9715 manats per ounce on February 8 compared to the price on February 7. The price of silver grew by 0.0503 manats, to 26.6587 manats per ounce. The price of platinum decreased by 14.365 manats,…Details
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Magnitogorsk Iron and Steel Works (MMK) plans capital expenditures at around $850 million in 2019, the company said in a presentation on February 7. CFO Andrei Yeryomin said in a conference call that capex included $300 million to be spent on maintenance of existing capacities, and the remaining money would be spent on upgrades of…Details
Oskol Electrometallurgical Works has produced the 70-millionth ton of metallized pellets. In December 2018 the pelletizing and metallizing shop, recently reorganized into the pelletizing and metallizing factory, turned 35. In 2010 the company modernized its metallizing machine No. 1. In 2013 the metallizing machine No. 3 was put into operation. In 2015 the metallizing machine…Details
In 2018 Cherepovets Iron and Steel Works increased electricity output by 2.8% YoY, to 4.565 billion kWh. According to Severstal Russian Steel CEO Vadim Germanov, this allowed saving some 200.4 million rubles. The share of the company’s own electricity reached 77.9% of the total consumption. (Ukrainian metal)Details
The import-replacing multi-strand steel ropes of Beloretsk Iron and Steel Works have received certificates. This will allow the company increasing its share of the local metal ware market. The new ropes are made according to a German standard and are used in lifting machinery. The 8-strand ropes with the diameter of 68 mm and 12-strand…Details
Magnitogorsk Iron and Steel Works (MMK) plans to keep steel output flat YoY in 2019, but it does not rule out a slight growth, CFO Andrei Yeryomin said in a conference call on February 7. “We don’t expect any growth. The amount will be close to the level of 2018. A 1% growth is possible,”…Details
Dneprovsky Iron and Steel Combine intends to attract a loan of $30 million from the state-owned Oschadbank. The issue will be discussed at the shareholders meeting on February 25. The loan will be attracted in UAH, US dollars and euros for 3 years. The interest is not more than Dneprovsky Iron and Steel Combine24% for…Details
In May Metipol LLC will put into operation a plant to produce polymer-coated rolled metal in the city of Pervomaisk. This means that the Alchevsk-based Metal and Polymers Works will resume operation on Ukraine-controlled territory. As raw materials Turkish galvanized coils will be used, The annual capacity of the enterprise will be 78 thousand tons…Details
Ukrainian manufacturers of galvanized rolled metal await the implementation of the preliminary protective measures on the import of these products from China and Russia. According to the executive director of the Ukrainian Center of Steel Construction, Vyacheslav Kolesnik, in August-September 2018 the imports of Chinese galvanized metal reached their peak, but after that dropped sharply.…Details
Interpipe has appointed Sergey Kostenko the chairman of the board of Interpipe Nizhnedneprovsk Pipe Works from February 5. He has been an acting chairman since June 28, 2018. Kostenko started working at Interpipe NTZ in 1995 in the pipe-rolling shop No. 3. Since 2010 he has been heading the repair department, and since 2013 he…Details
In Q4 2018 MMK revenue decreased by 6.2% QoQ, to $1962 million. EBITDA fell by 20%, and the margin was 27.4%. Net profit totaled $245 million. In 2018 revenue increased by 8.9% YoY, to $8214 million, mostly because of the average price growth (by 8% or by $46 per ton). EBITDA went up by 19%,…Details
The Ministry of Finances proposes canceling VAT on gold in ingots, as investment in precious metals is a good way for accumulation. Now people have to pay a 20% VAT when buying ingots from banks. While when selling ingots, the VAT is not returned, which makes purchase less attractive. Hence the low demand – some…Details
ArcelorMittal Temirtau has received new machinery for its converter shop continuous casting machines Nos. 1 and 2. The new equipment – segments, crystallizers and benders – was purchased in Italy from Danieli under an investment project. “This project will improve the working conditions of both machines and the quality of the billets”, the company said.…Details