Russia: Moody’s Upgrades MMK to Baa2

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…

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Ukraine: AMKR saves $120 million within WCM project

World 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,…

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Armenia: Armenal output down in 2018

In 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)

Ukraine: metal companies start increasing jobs

In 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)

Ukraine: coking coal output down in 2018

In 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)

Russia: Severstal profit up in 2018

In 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)

Russia: VMZ to get new Danieli machinery

Vyksa Iron and Steel Works will assemble a new seamless pipes producing machine.

The machinery will be supplied by Danieli.

The design capacity of the machinery is 0.5 million tons of pipes per year.

The commissioning is scheduled for 2021. (Ukrainian metal)