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The economic impact of rationalization proposals implemented at Magnitogorsk Iron and Steel Works (MMK) amounted to almost RUB 380 million in H1 2019 – a 40% increase year-on-year. During this time, innovators submitted a total of 3,150 proposals, of which more than 70% (2,210) were approved for implementation. These numbers indicate an increase in the…
DetailsAccording to Worldsteel, the global steel output in January-July grew by 4.57% YoY, to 1.084 billion tons. China traditionally occupies the first place with 577.06 million tons of steel produced, up by 9.01%. China accounts for 53.2% in the world steel output. As previously, Ukraine is on the 13th place with 12.72 million tons of…
DetailsMariupol Ilyich Iron and Steel Works has constructed 2 energy efficient cooling towers. Investments in the project amounted to 55.1 million UAH. One of the towers cools water for the sheet-rolling shop-1700 and the cold-rolling shop. The second tower provides cold water for the oxygen shop. With the commission of the two towers the water…
DetailsPJSC Magnitogorsk Iron and Steel Works will hold a Capital Markets Day in London on November 15. At the CMD, Chairman Viktor Rashnikov, INED Morgan Ralph Tavakolian and the executive management team will discuss MMK’s progress against the Company’s strategy to 2025. The presenting team will include: Viktor Rashnikov, Chairman of the Board of Directors,…
DetailsThe net profit of the Russian coal producer Raspadskaya, a part of the metals and mining group Evraz, fell by 6.2% YoY, to $211 million in January-June, as calculated under International Financial Reporting Standards (IFRS), the company said in a report on August 28. Revenue went up by 5.8%, to $546 million in the period,…
DetailsGovernment of Kyrgyzstan has increased money receipts under a strategic agreement with Centerra Gold to $150 million, the Information Support Department of the Cabinet’s Office reported. The Prime Minister Mukhammedkaly Abylgaziev has held a meeting on the mechanisms of work of the Nature Development Fund and the Social Partnership for Regional Development Fund, created as…
DetailsIn June Russia exported 259.5 thousand tons of raw aluminum, up by 4.8% MoM, and by 28.6% YoY. Deliveries to Turkey grew by 40%, but to Japan and US dropped by 23% and by 13% respectively. In H1 Russia exported 1.6 million tons of aluminum, up by 21.6% YoY. In monetary terms since the start…
DetailsIn June Russia exported 33.6 thousand tons of refined copper, down by 8.9% MoM, but up by 1.2% YoY. Deliveries to Germany and China decreased the most MoM – by 79% and by 54% respectively. In H1 Russia exported 340 thousand tons of copper, up by 5.8% YoY. In monetary terms since the start of…
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