Mechel PAO reports a court decision that may have an impact on the value of Mechel PAO’s shares. According to court information, the Fifteenth Arbitration Court of Appeals left unchanged the decision to charge Mechel PAO jointly with other respondent parties a sum of 12.7 billion rubles to recover Rostov Electrometallurgical Plant’s damages. The lawsuit…
In January-June Mechel mined 10.331 million tons of coal, down by 10% YoY. According to the group statement, steel output in 6 months increased by 5%, to 2.22 million tons, pig iron remained almost flat YoY, at 2.04 million tons. In Q2 Mechel decreased coke sales by 9% because of unstable market situation. “The metal…
Mechel intends to mine 23 million tons of coal in 2018. “Coking coal concentrate output will be on the level of 10 million tons”, the company CEO Oleg Korzhov reported. Elginskoye deposits are expected to yield 4.5 million tons, Yakutugol – 8-8.5million tons. “We had to decrease Yakutugol output target for the next year, as…
The net profit of Russian metals and mining group Mechel, attributable to shareholders, fell by 40% YoY, to 4.994 billion rubles in January-June, as calculated under International Financial Reporting Standards (IFRS), the company said on August 23. The entire profit fell by 38%, to 5.682 billion rubles. EBITDA grew by 56%, to 40.227 billion rubles,…
Mechel-Service has supplied 500 tons of rebars for the construction and modernization of the Novorossiysk military-navy base. According to the company statement, the rebars for the new base have been manufactured at Chelyabinsk Iron and Steel Works. (Ukrainian metal)
Mechel-Service has supplied 2.2 thousand tons of rolled metal for the construction of the Platov international airport in Rostov-on-Don. Chelyabinsk Iron and Steel Works rebars account for most of the metal supplied. The company also delivered construction mesh, beams and sheets. Platov is designed to become the main air haven of the South of Russia.…
Since the beginning of the year Mechel-Service has supplied 6.5 thousand tons of rebars for construction of housing in the city of Chelyabinsk. The company supplies rebars almost to all major construction project in the city. One of the latest batches was for the construction of the business-class housing complex Gagarin Residence in the downtown.…
In January-June Mechel-Service increased earnings by 12% YoY, to 28 billion rubles. Beam sales increased by 15%, pipes by 18% and stainless sheet by 22%. Metal sales in volumes remained almost on the previous year level – 904 thousand tons. “We see the first half year results as quite positive. Against the drop in metal…