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The Steel Industry Company says the prices for rolled metal in April will increase. The growth has to do with the change in the world prices, as well as the increase in metal consumption both on world and domestic markets, resulting in the shortage of steel and creating prerequisites for the price increase. Many Russian…
DetailsIn 2017 MMK-Metiz increased net profits 3.4-fold, to 1.26 billion rubles, In Q4 2017 the company received 170.8 million rubles of profits, down from 393 million rubles in Q3 2017. In Q4 2017 MMK-Metiz sold 5.28 billion rubles worth of metal wares, down by 5% QoQ. Consolidated revenue in 2017 totaled 20.456 billion rubles, up…
DetailsThe state enterprise Ukrpromvneshexpertisa forecasts that by mid-April the price of ferrous metals scrap will drop by 3.5%, to some 8.3 thousand UAH per ton, compared with late March. According to the company deputy director Yuri Dobrovolski, the drop will have to do with the downgrading trends on the world markets, as well as the…
DetailsIn Q1 2019 ArcelorMittal Kriviy Rih intends to finish construction of a new department of the continuous steel casting No. 2. According to the company statement, the capacity of two new continuous casting machines (Nos. 2 and 3) will be 1.4 million tons of billets per year each. The total cost of the investment project…
DetailsIn 2017 Ferrexpo invested over $100 million in its Ukrainian assets. “Poltava, Yeristovo and Belanovsky GOKs received 2.7 billion UAH from Ferrexpo last year”, the company reported. In particular, for deposits maintenance and development PGOK received 1698.3 million UAH ($62.9 million), while Yeristovo and Belanovsky GOKs were given 995.3 million UAH ($37.3 million) for development.…
DetailsThe cost of gold, silver and platinum increased in Azerbaijan on March 27, while the cost of palladium decreased, according to the data published by the country’s Central Bank. The cost of gold increased by 71.7 manats, to 2301.562 manats per troy ounce compared to the price on March 19. The cost of silver increased…
DetailsA miner died last night during underground works in Shukruti mine in the village of Chiatura – a city in the western Georgian region of Imereti. The mining accident claimed the life of 45-year-old Zaza Abramishvili at around 3 am. Georgian American Alloys, the company responsible for the mine, said in a statement that part…
DetailsIn 2017 Yasinovsky By-Product Coke Plant increased net losses 4.7-fold YoY, to 1.434 billion UAH. According to the company statement, its uncovered loss last year totaled 1.195 billion UAH. The company current liabilities grew 2.4-fold, to 2.29 billion UAH, while its fixed liabilities fell by 40%, to 63.181 million UAH. Its accounts receivable decreased by…
DetailsIn January-February Zaporozhye Iron Ore Complex produced 697 thousand tons of iron ore, up by 37.2% YoY. According to a company representative, in February it mined 330 thousand tons of ore. The plan for this year is 4.55 million tons of ore with the iron contents of 60.85%. In 2017 iron ore output remained almost…
DetailsIn 2017 Evraz NTMK produced 1.3 thousand tons of flanged beams for metal structures to be used in construction of Amur Gas-Processing Works infrastructure. This year the deliveries will continue. In particular Evraz NTMK produced beams of 19 sizes, including of low-alloyed steel 345. The company can manufacture 300 sizes of hot-rolled beams with the…
DetailsOskol Electrometallurgical Works, a part of Metalloinvest, hosted a meeting of Metalloinvest commercial director Nazim Efendiyev and KamAZ deputy sales general director Rustam Shamsutdinov. The parties agreed on improving the efficiency in the supply of high quality rolled steel (SBQ), including creating the stocks and switching to electronic workflow. In 2017 OEMK supplied almost 50…
DetailsThe Far East Development minister Alexander Galushka during his working trip to China has held a number of meetings with the local businesses. In particular, he held talks with the Minmetals Corporation. The corporation is eyeing the development of the Malmyzh copper-porphyry deposits in Khabarovsk region. The deposits reserves amount to 5.6 million tons of…
DetailsSmart Stahl GmbH (Austria) has purchased the movable property of the Liepājas metalurgs rolling shop. But it is believed that Dmitry Gerasimenko, owner of the Volgograd-based Krasniy Octyabr (Russia) could be behind the deal. He is a full owner of the Cyprus-based Segoa Ventures Limited, which owns Smart Stahl, created in April 2017. The sum…
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