The prices of precious metals decreased in Azerbaijan on August 29, according to the data published by the Central Bank. The price of gold fell by 8.7465 manats, to 2,047.6925 manats per ounce on August 29 compared to the price on August 28. The price of silver dropped by 0.1912 manats, to 25.1079 manats per…Details
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The net profit of VSMPO-Avisma grew by 40% YoY, to $167.58 million in January-June, as calculated under International Financial Reporting Standards (IFRS), the company said. Revenue increased by 3.3%, to $786.08 million. Earnings before interest, taxes, depreciation and amortization (EBITDA) decreased by 6.1%, to $317.52 million. (Prime/Ukrainian metal)Details
On August 29 the Uzbekistan Iron and Steel Works launched a workshop for the production of ferroalloys. The launch ceremony was attended by the President Shavkat Mirziyoyev, employees of the enterprise, representatives of the government of Uzbekistan and foreign investors. The cost of the implemented project is $60 million, the workshop is equipped with up-to-date…Details
Lately a number of Armenian and Azerbaijani media reported on possible “mass firings” at Rusal Armenal because the US sanctions affected foil exports. The company is the largest producer and exporter of aluminum foil. “The works is operating in stable mode. No mass firings are in question. The information appearing in some media is false”,…Details
As of August 24, 988 thousand tons of coal have been produced, up by 67 thousand tons YoY. According to the Ministry of industry and new technologies, this year Tajikistan intends to produce 1.9 million tons of coal. The country has 14 coal deposits. Coal exports so far have reached 27 thousand tons valued at…Details
Severstal and the First Cargo Company have signed a 5-year agreement on railroad transportation of metal in open wagons. The agreement provides for annual transportation of some 16 million tons of metal. The companies have been cooperating since 2013. That year an agreement was concluded for 5 years. Since then PGK has transported 105 million…Details
Russia has a plan to support Rusal hit by US sanctions, including by buying aluminum to the state reserves. In April the company was severely hit by sanctions. Metal deliveries under contracts concluded before April 6 are allowed until October 23. According to the minister of industry and trade Denis Manturov the government has a…Details
Charity fund of PJSC ArcelorMittal Kriviy Rih submitted 220 PCs to 13 schools and the Center for Children’s Social and Physiological Rehabilitation of Saksaganskyi district. The certificates for computer hardware were presented to the school directors in the administration of Saksaganskyi district. To improve facilities of the schools of Kriviy Rih, to make training of…Details
In January-June the state enterprise Vostochniy Mining and Processing Works received 13.36 million UAH of net profit, down 16.9-fold YoY. According to the company statement, its net income dropped by 23.2%, to 1.2 billion UAH. Gross profit decreased 2.5-fold, to 170.35 million UAH. Last year VostGOK received 388.94 million UAH of net profit, down by…Details
The Ministry of Industry and Trade believes that the world market has started suffering from the aluminum shortage. “The world shortage of aluminum amounts to 1.5 to 2 million tons per year, and we expect aluminum consumption, processing and production to increase”, the ministry head Denis Manturov said. Last year Russia implemented a program to…Details
Iron ore transportation in July reached the record-high level in the past 15 years at 10.1 million tons, up by 9.8% YoY. Since the start of the year railroads have transported 67.1 million tons of ore, up by 5.1% YoY. Local transportation increased by 11%, while exports remained flat. (Ukrainian metal)Details
Chelyabinsk Iron and Steel Works has produced 2 million tons of rolled metal since commissioning of its rail and beam mill. 1.5 million tons were produced in early January. The company has the first manufacture of high quality rails and beams with the length of 100 meters in Russia. The first beam was produced on…Details
Ferrexpo Plc. can increase the size of the pre-export financing of 2017 from $195 million to $500 million, postponing the payment from 3 to 4 years. According to the draft decision of the extraordinary shareholders meeting of Poltava Mining and Processing Works scheduled for September 17, amendments will be made to the loan agreement of…Details