Russia: TMK increasing pipe prices

The Pipe Metallurgical Company has announced the increase of all of its Russian division pipe product prices by 5% from March 1. The increase will affect all categories of consumers. The main reason for the price increase is the growth of raw materials cost and other industrial expenses in H2 2016, which affected the prime…

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Russia: MMK net profits up in 2016

In 2016 MMK increased its net profits 2.5-fold YoY, to $1.111 billion. According to the company statement, its free cashflow totaled $728 million. EBITDA increased by 17.3% YoY, to $1.956 billion. Company revenues dropped by 3.6% YoY, because of the low sale prices. This year MMK forecasts the increase in steel demand in Russia by…

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