This year, Electrostal intends to increase the number of its subsidiaries – now it has eight. “We prepare the ninth. Sales are expected to increase by 20%. We try to make sure that prices in our subsidiaries are 20-30% below market prices. This is achievable, as we are working without middlemen”, the company CEO Nikolay…Details
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Kirov Non-Ferrous metals Processing Works has successfully passed the inspection in the “Made in Russia” system of voluntary certification. The company has received official documents Russian Exporter and Made in Russia and has been added to the Registry of conscientious exporters, which makes it more recognizable on foreign markets. Before issuing certificates, the experts of…Details
Bailiffs of the Krasnoyarsk region have suspended the operation of Yeniseiskiy Iron and Steel Works based on the court ruling. The manufacturing object is situated on the territory of Krasnoyarsk Iron and Steel Works. EMZ produces steel of various grades, alloys and ready-made steel components. The bailiffs halted the operation of the enterprise by shutting…Details
Neryungri-Metallik LLC, a part of Nordgold, in 2019 produced 8.2 tons of refined gold at its Gross mine in Yakutia. The output target was exceeded by 36%. In early 2019, the company expected to produce 5.9 tons of gold last year. The increase is due to the expansion of the factory capacities from 12 million…Details
Mechel has addressed its main bank-creditors (VTB and Gazprombank) asking them to prolong the postponement to pay debts until the debt is restructured. As of late 2019, the volume of loan debt exceeded 370 billion rubles. Gazprombank has agreed to postpone the payment for a month, while VTB has not decided yet. In 2017, Mechel…Details
In January-February, the share of metal and wares in the overall exports totaled 8.6%, down from 9.4% last year. Far foreign countries accounted for 7.6% (9% in January-February 2019), while CIS – 16.8% (12.5%). The exports of pig iron decreased by 57%, aluminum – by 53.5%, ferroalloys – by 20%, flat iron and unalloyed steel…Details
International rating agency Moody’s has worsened its outlook for Russia’s steel sector to negative from stable. The agency attributed the move to an anticipated decline in demand for steel amid low oil prices and a weak industrial PMI. Moody’s expects that demand for steel will fall by 3-7% this year compared with a previous projection…Details
In March, deliveries of scrap to metal companies reached 260-270 thousand tons, and in Q1 – 660-680 thousand tons. This allowed providing companies with scrap at the level of 110-113%. Scrap stocks are now high – 130-135 thousand tons. According to UAVtormet president Vladimir Bubley, 2020 will see decrease in scrap procurement by 12-15% in…Details
In January, Russia imported 61.9 tons of raw tin, down by 44% MoM and by 26% YoY. Price remained unchanged – $18.4 per kg. Deliveries from Belgium grew 2-fold, to 40 tons, while from Bolivia dropped 2-fold, to 20.5 tons. Malaysia and Peru stopped supplying tin to Russia. In 2019, imports totaled 1.2 thousand tons,…Details
In 2019, Russia extracted 367.952 tons of gold, up by 12% YoY. 286.563 tons accounted for extracted gold, up by 9.5%. Auxiliary gold totaled 18.134 tons, up by 17.4%. And the rest accounted for gold-containing concentrates and secondary precious metal. Polyus provided almost a quarter of all ore gold – 88.36 tons, up by 16.4%.…Details
ChTPZ Group has shipped over 60 thousand tons of large-diameter pipes to Gazprom for construction of the gas pipeline to connect Kharasaveyskoye deposit to Bovanenkovskoye. Pipes with the outer corrosion-resistant coating with the diameter of 1420 mm and wall thickness of 27.7 and 33.4 mm of K65 steel were produced at Chelyabinsk Iron and Steel…Details