Victor Vekselberg and Mikhail Prokhorov received a total of 2.46 billion Hong Kong dollars ($315 million) from the sale of some 3% of Rusal shares. 456 million shares were placed at 5.4 HKD, with a 7.5% discount. There were 70 offers, with top 10 investors acquiring over 60% of shares. Of the volume sold Vekselberg…Details
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In January-September MMK increased steel output by 1.9% YoY, to 9.569 million tons. Pig iron manufacture grew by 3.1%, to 7.509 million tons. Sales went up by 1.2%, to 8.759 million tons. In 2016 MMK produced 12.5 million tons of steel, up by 2.5% YoY. (Ukrainian metal)Details
Dr. Bruno Charles De Cooman, NLMK Group Vice President for Research and Development, has been awarded the prestigious Adolf Martens Memorial Steel Lecture for his research into the properties of ultrahigh-strength steels. The award ceremony took place on October 10 at the Material Science & Technology 2017 International conference in Pittsburgh (USA). This award was…Details
In January-June Metinvest B. V. sold 38% of metal products in Europe, 21% in Ukraine, 20% in the Near East and North Africa and 11% in CIS. Metal revenue reached $1.213 billion, or 38% of the total revenue, with earnings in Europe up by 27% YoY. Experts believe that because of the new European antidumping…Details
Under the contract with ArcelorMittal, Energomashspetsstal has supplied a batch of supporting rolls for rolling mills to Kazakhstan. 263.23 tons of rolls have been produced for the ArcelorMittal Temirtau 1700 hot-rolling mill, as well as for 1400 and 1700 cold-rolling mills. (Ukrainian metal)Details
In January-September Amur region yielded 20213 kg of gold, up by 19.7% YoY. In particular, the region obtained 13499 kg of ore gold and 6714 kg of alluvial gold. In January-September 2016 Amur region yielded 16887 kg of gold, including 5872 of alluvial and 11012 kg of ore gold. The main contributors to the output…Details
Karelsky Okatysh has started the construction of a road to its new quarry Vostochniy. The development of the deposits is expected to start in 2021-2022. This will be not only the technological road, but also a transport vein of the regional level. “Our task is to create a road for dump trucks. The length of…Details
In September Russia exported to Europe 208 thousand tons of coal, illegally taken from the occupied districts of Donetsk and Lugansk regions. This is up by 18% MoM, or by 33 thousand tons. According to a source among Russian coal traders, in August-September coal exports were hindered by the Russian Railroads limitations. (Ukrainian metal)Details
The Ministry of economic development and trade has officially confirmed the imposition of a 5-year antidumping duty by the Eurasian Economic Commission on the Metinvest hot-rolled angles in the volume of 37.89%. The EAEC decided to impose antidumping duties on the imports of hot-rolled steel angles originating from Ukraine under the codes of 7216210000, 7216401000,…Details
Abinsk Electrometallurgical Works has completed the modernization of its arc-furnace shop. The project saw the reconstruction of the arc-furnace, stove-busket as well as the continuous-cast billet machine. As the result the company will increase the manufacture of 130 and 150 mm billets from 1.2 million tons to 1.5 million tons. The works will also be…Details
In January-June Metinvest increased EBITDA by 45% YoY, to $839 million. According to the group statement, earnings increased by 36%, to $3.913 billion, but net profit fell by 20%, to $72 million. The EBITDA growth was the result of the increase of sales prices ($1.192 billion), EBITDA share increase in joint companies ($69 million), as…Details
SOGAZ will insure Severstal property for 113 billion rubles. In particular, the company will insure the assets of Severstal, Severstal-Metiz, Orel Iron and Steel Works, Severstal steel ropes, Izhora Pipe Works, Severstal Pipe-Section Works Sheksna, Karelsky Okatysh and Olkon. The mining and property complexes, as well as special machinery, railroad wagons, automobiles will be insured…Details
Severstal has chosen the supplier of the hot-rolled strip surface quality control system for Cherepovets Iron and Steel Works. ISRA Parsytec GmbH will supply, assemble and commission four quality control systems. “The investment project with the total value of over 180 million rubles is aimed at improving the quality of the cold-rolled metal surface, as…Details