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Ukraine: scrap prices to drop

The 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…


Ukraine: Ferrexpo invests over $100 million in GOKs development

In 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.…


Georgia: one dead in mining accident

A 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…


Ukraine: YaKKhZ losses up in 2017

In 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…


Russia: Metalloinvest and KamAZ expand strategic partnership in SBQ deliveries

Oskol 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…