S&P Global Ratings has improved the TMK rating to the Stable. The agency has also confirmed the company long-term ratings in foreign and local currency on the level of B+. “The Stable forecast shows our expectation of the company to continue making efforts to decrease the share of loan funds”, the agency said. According to…
DetailsIn November Zaporizhstal produced 300.5 thousand tons of steel, down by 3.6% YoY. According to the company statement, pig iron manufacture increased by 14.8%, to 316.9 thousand tons, while rolled metal output dropped by 30.2%, to 186.2 thousand tons. The decrease in manufacture is explained by the capital repairs of 1150 and 1680 rolling mills…
DetailsThe Republic of Bashkiria has granted tax preferences to 5 priority investment projects. Among them is the “Organization of the multistrand ropes manufacture”. Beloretsk Iron and Steel Works initiated the project. Investments total 510 million rubles. 68 new jobs will be created. (Ukrainian metal)
DetailsGaysky Mining and Processing Works is finishing the technical revamping of the sixth ore-loading unit at the processing factory. This is the final stage of the work this year. The factory processes some 29-30 thousand tons of ore per day. Investments in the construction of the new unit total 24 million rubles. (Ukrainian metal)
DetailsGlobal rating agency Fitch has downgraded outlook for a BB- long-term issuer’s default rating of Russia’s Chelyabinsk Pipe-Rolling Plant, or ChelPipe, to Negative from Stable, it said in a statement. The Negative outlook reflects Fitch’s wariness about ChelPipe’s ability to reduce liabilities and the overall debt to funds from operations (FFO) ratio from 4x at…
DetailsIn November Ukraine produced 1.87 million tons of steel, down by 3% MoM. Pig iron manufacture grew by 2%, to 1.83 million tons, while rolled metal dropped by 6%, to 1.6 million tons. “A slight decrease of steel and rolled metal output in November has to do with the scheduled and current repairs of the…
DetailsThree gold deposits in Naryn region of Kyrgyzstan were sold for $1.8 million, the State Committee of Industry, Energy and Subsoil Use reported. Following the auction on the Small Naryn field (placer gold, geological exploration), Egiz-Suu LLC, which offered $53,000, was declared the winner. The winner of the auction for the right to use the…
DetailsIndustrial Union of Donbas (ISD) Corporation is currently controlling its production assets in Alchevsk, Luhansk region, namely Alchevsk Iron and Steel Works, Alchevsk Coke Chemical Plant (Alchevskkoks) and PJSC Ecoenergy, located in the temporarily uncontrolled territory of Ukraine. “Due to different interpretations of ISD Corporation’s statement made on November 29, we believe it is necessary…
DetailsRussian aluminum giant UC RUSAL has agreed to acquire a majority stake in K&K, a Krasnoyarsk region-based light-alloy wheel disks facility, it said in a statement on November 30. The deal is currently under a due diligence procedure and will be sent to the Federal Antimonopoly Service for approval after its structure is defined, a…
DetailsIndustrial Union of Donbas Corporation (ISD) has officially reported on a significant risk of losing effective managerial control over the production assets (industrial sites and office premises in Alchevsk, Luhansk region), including PJSC Alchevsk Iron and Steel Works, PJSC Alchevsk Coke Chemical Plant (Alchevskkoks) and PJSC Ecoenergy, which together constitute a significant part of the…
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