At a meeting held on March 1, the Board of Directors of NLMK Group resolved to convene NLMK’s Annual General Shareholders’ Meeting (AGM) on April 19. The Board of Directors recommended shareholders re-elect Grigory Fedorishin as NLMK Group President (Chairman of the Management Board) and CEO. The following nine members were put forward for election…
DetailsIzhstal has capitally repaired the bar-wire mill-250, which accounts for some 40% of the plant output. The mill produces rolled metal in rods and coils with the diameter of 6.5 to 52 mm. The products are in demand by the enterprises of the car, aviation, machine-building, military and oil and gas industries. In 2018 the…
DetailsKarabashmed has started assembling metal structures and sites needed to operate four new moist electric filters in the sulfur acid shop.
The assembly will last for a month.
The electric filters will be commissioned in June. (Ukrainian metal)
At a meeting held on March 1, NLMK Group’s Board of Directors recommended the company’s shareholders approve payment of Q4 2018 dividends of 5.80 rubles per share at the upcoming Annual General Shareholder Meeting (AGM), which would be held on April 19. This is equivalent to 100% of the company’s free cash flow based on…
DetailsThe European Bank for Reconstruction and Development is no longer a Centravis shareholder. “For 9 years we have been in partnership with the bank. It has provided us with financial assistance during the crises, as we have been under pressure. In 2018 we bought out its share. But thus we received experience of working with…
DetailsNLMK Group announces the launch of its new Strategy 2022 and changes to its dividend policy. Strategy 2022 targets net gains of +$1.25 billion to EBITDA per annum, with $0.5 billion from operational efficiency programs that require no additional capex. Strategy 2022 is based on enhancing NLMK Group’s competitive advantages. Through operational efficiency initiatives and…
DetailsCoal produced in Russia-occupied Donbas, Eastern Ukraine, is shipped not only to Russia but also to Turkey and countries in Europe, namely the European Union member states, without the latter’s knowing that, as shipping documents are falsified to show that the coal is of allegedly Russian origin. “This does not mean that these countries intentionally…
DetailsIn 2019, Italy will become a new export destination for Azerbaijan’s Ganja Aluminum Plant, a source at the company reported. The source noted that presently, almost all of the plant’s production was exported. “The company’s products are exported to a number of European countries and the former USSR countries, and in the coming months, exports…
Details“Downgrading of the State Committee for Industry, Energy and Subsoil Use of Kyrgyzstan to an agency will bury the mining industry,” Chairman of the Mining and Metallurgical Trade Union Eldar Tadzhibaev declared. According to him, proposals on creation of an independent Ministry of Energy and the restoration of the State Agency for Geology and Mineral…
DetailsIn January Russia produced 4.15 million tons of pig iron, down by 7.8% YoY (4.715 million tons in December 2018). Ukraine, no longer a part of CIS, decreased pig iron output by 9.6%, to 1.789 million tons (1.832 million tons). Kazakhstan produced 250 thousand tons of pig iron, down by 20.4% (260 thousand tons). All…
DetailsIn 2019 Beringpromugol LLC plans to extract 750 thousand tons of coal in Chukotka. The company will be developing the Fandyushkinskoye field deposit. Last year the company received a license to prospect and extract at the Zapadniy site till September 2038, as well as prolonged its license for the Levoberezhniy site till 2038. In 2018…
DetailsOn March 1 Belarus Iron and Steel Works put into operation a new machine to produce metal cord for bulk and extremely bulk tyres. The GCR machine was assembled in the steel wire shop No. 2. This is the only shop at the company to produce such a cord. It has improved strength because of…
DetailsThe Uralelectromed powder shop has received a new Gecam mill.
The mill processes the surface of wares made of copper powder.
Previously wares were treated manually. The machine will do it 3-4 times faster and is expected to process some 20 to 30 thousand spare parts per month. (Ukrainian metal)
Ukrainian President Petro Poroshenko took part in the launch of a continuous casting machine No. 4 of the Mariupol Ilyich Iron and Steel Works. “I was pleased to learn that the company had a sharp increase in wages in the second half of 2018. And the average salary at the enterprise is UAH 18,000 ($670).…
DetailsVerkhovna Rada has approved as a whole the decree to decrease the ferrous scrap shortage on the domestic market by increasing the scrap export duty from 42 euro to 48 euro per ton and prolonging it for three years. 234 members of the Parliament voted in favor of the decree. This is the third decree.…
DetailsCherepovets Iron and Steel Works has been smelting steel for 10 years. On March 1, 2009, the converter shop, electric arc furnace shop and limestone-dolomite shop were united into the steel-smelting manufacture. In 10 years the combined output of converter and electric steel exceeded 110 million tons. In 2018 the company produced 9.9 million tons.…
DetailsThis year Ukrzaliznytsia (Ukrainian Railways) intends to actively sell scrap and outdated cars and earn some 2 billion UAH. Since late 2018 Ukrzaliznytsia has started selling scrap via the Prozorro.Sales program. At that time the company put its first four lots for sale with the combined initial cost of 260 million UAH. In January the…
DetailsThe bar rolling shop No. 2 of the Uzbekistan Iron and Steel Works is finishing the project to organize manufacture of carbon steel rolled wire. The main machinery has already been assembled at the mill-300. Commissioning is scheduled for April 15. As the result of the project the company will be able to produce rolled…
DetailsIn February Zaporizhstal increased steel output by 3.7% YoY, to 329.7 thousand tons. Pig iron manufacture grew by 0.7%, to 360.9 thousand tons. At the same time the rolled metal output dropped by 3.5%, to 277 thousand tons. In January-February steel production went up by 0.4% YoY, pig iron dropped by 2.9% and rolled metal…
DetailsThe prices of gold and silver decreased in Azerbaijan on March 1. The price of gold dropped by 9.571 manats, to 2,232.5505 manats per ounce compared to the price on February 28. The price of silver fell by 0.2674 manats, to 26.5122 manats per ounce. At the same time the price of platinum grew by…
DetailsIn 2018, the total financial benefit of the introduction of innovation suggestions at the Magnitogorsk Iron and Steel Works (MMK) amounted to 453.6 million rubles. Last year, MMK’s expert commission considered 5,792 proposals, of which 3,872 (66.8%) were selected as innovative ideas to be implemented. Traditionally, most of the ideas submitted addressed the issues of…
DetailsEarnings before interest, taxes, depreciation and amortization (EBITDA) of pipe producer TMK increased by 9% QoQ, to $179 million, while revenue grew by 5%, to $1.264 billion in October-December 2018, as calculated under International Financial Reporting Standards. The gross profit rose by 1%, to $224 million, while the EBITDA margin remained unchanged at 14%, it…
DetailsThe meeting of the coordinating council of Magnitogorsk Iron and Steel Works (MMK) and TMK was held in Magnitogorsk. The representatives of both companies reviewed their joint work in 2018 and discussed future collaboration. According to the results of 2018, 504,600 tons of MMK’s flat steel products were shipped to TMK’s pipe mill. This represents…
DetailsThailand has lifted a special protective duty it imposed on imports of Russian alloyed hot-rolled steel, the Economic Development Ministry said. “Alloyed hot-rolled steel from Russia now has access to the Thai markets. The kingdom has submitted a notification on conclusion of revision of the protective measures to the World Trade Organization,” the statement read.…
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