News. Russian ferrous metallurgy news

TMK presented new strategy to 2027 at its Capital Markets Day in London

PAO TMK ('TMK' LSE: TMKS) (the “Company”, the “Group”), one of the world's leading producers of tubular products for the oil and gas industry, presented its new ten-year strategy to 2027 and an update on performance at its 5th annual Capital Markets Day in London. The new strategy will reinforce TMK’s position as a leading supplier to the global OCTG market, the dominant supplier to the Russian oil and gas market, a TOP 3 OCTG producer in the U.S. and number 2 globally by financial performance. ...
11 March 2017., 11:25   comment

Mechel Signed Long-Term Coal Supply Contract with Itochu Corporation

Mechel PAO (MOEX: MTLR; NYSE: MTL), a leading Russian mining and metals company, reports signing a framework agreement with a major Japanese universal trading company Itochu Corporation. The agreement stipulates that Mechel is due to supply Itochu Corporation with up to 300,000 tonnes of washed steam coal produced at Southern Kuzbass Coal Company’s New-Olzherasskaya Mine. The price will be determined by mutual agreement without reference to any particular formula. Japan’s major cement and power ...
11 March 2017., 11:21   comment

NLMK ramps up PCI in BF Shop No.2

NLMK Group’s flagship production site, has completed guarantee testing of pulverized coal injection (PCI) technology at Blast Furnace No. 6 (with a capacity of 3.1 million tonnes per year), and at Blast Furnace No. 7 (with a capacity of 4.3 million tonnes per year). Tests confirmed that the equipment has reached design capacity. This technology involves co-injecting natural gas and fine coal particles into the blast furnace, resulting in reduced coke consumption. Replacing expensive raw materials ...
11 March 2017., 11:15   comment

TMK highly appreciated advantages of Metalloinvest’s HBI usage

Dmitry Pumpyanskiy, Chairman of the Board of Directors of TMK, and Alexander Shiryaev, CEO of TMK, have visited Lebedinsky GOK and OEMK (part of Metalloinvest). During the visit, the management team of TMK learned about the production process of hot briquetted iron (HBI). During the visit to OEMK, the TMK delegation was introduced to Metalloinvest's steel production technology using direct reduced iron (DRI) as the primary raw material. Using DRI (chemically identical to HBI), will allow OEMK ...
27 October 2017., 13:04   comment

Severstal announces sale of Dneprometiz

Severstal announces that its subsidiary Cambay Services Ltd has completed the sale of its wholly-owned subsidiary Dealzone Holding Ltd which holds the 98.6% stake in Dneprometiz. Located in Dnepr, Dneprometiz is a Ukrainian business and former subsidiary of Severstal-metiz, the group of companies which unites Severstal’s metalware assets. The sale of Dneprometiz will result in greater efficiency improvements at Severstal-metiz and will further enhance the profitability of the Severstal group. ...
27 October 2017., 12:00   comment

Q3 and 9m 2017 NLMK Group consolidated financial results under IFRS

NLMK Group (MICEX and LSE: NLMK) is pleased to announce a 64% sequential growth in free cash flow in Q3 2017, to $533 m, and a 7% growth in EBITDA to $648 m. Group revenue in Q3 totalled $2.55 bn (flat qoq), driven by higher sales (+1% qoq) and 100% steelmaking capacity utilization rates (+2 p.p. qoq). Q3 EBITDA growth to $648 m (+7% qoq) was driven by the widening of spreads between steel product and raw material prices. 9M EBITDA increased by 31% yoy to $1,869 m, supported by Strategy 2017 ...
27 October 2017., 10:53   comment

Metalloinvest starts pilot operation of concentrate intake facility at Mikhailovsky GOK

Metalloinvest has started pilot operation of the concentrate intake facility at Mikhailovsky GOK. The Company has invested 1.3 bn roubles in the project. The maximum design capacity of the facility is 3.2 mn tonnes of concentrate per year. During the facility’s pilot operation, the Company specialists will adjust the equipment and operating models in order to operate at the design capacity levels. The facility will process the intake and unloading of Lebedinsky GOK’s iron ore concentrate, as ...
20 October 2017., 13:01   comment

Alexey Mordashov reelected as member of World Steel Association executive committee

The Board of Directors of the World Steel Association (Worldsteel) has elected Alexey Mordashov, Chairman of PAO Severstal, one of the world’s leading vertically integrated steel and steel-related mining companies, as a member of the association’s 2017/2018 executive committee at Worldsteel’s 51th General Assembly in Brussels, Belgium. Alexey Mordashov is the only Russian representative in Worldsteel’s executive body. The World Steel Association is one of the largest and fastest-growing global ...
20 October 2017., 13:00   comment

IMH 3Q & 9M 2017 operational results

Industrial Metallurgical Holding (IMH), one of the world’s leading suppliers of merchant pig iron and the biggest merchant coke producer in Russia, announces its operational results for 3Q and 9M 2017. Production of coking coal by the Coal division for 9 months of 2017 amounted to 2.17 mt, that is 50% more than in the same period last year. The increase in production occurred due to the launch of the Tikhova mine and the second stage of Butovskaya mine in May 2017. Coking coal concentrate production ...
20 October 2017., 12:53   comment

EVRAZ Q3 Production Report

EVRAZ plc (LSE: EVR; “EVRAZ” or the “Group”) today released its operational results for the third quarter of 2017. Q3 2017 vs Q2 2017 OPERATIONAL HIGHLIGHTS: Consolidated crude steel output increased by 5.9% quarter-on-quarter to 3.5 million tonnes in Q3 2017, primarily following the completion of capital repairs at EVRAZ DMZ’ oxygen-converter plant and the ramp-up of EVRAZ Regina after the planned outage in Q2 2017. Production of steel products, net of re-rolled volumes, increased by 4.4% quarter-on-quarter ...
17 October 2017., 11:53   comment

MMK Aims Quarterly Dividend Payments

MMK Aims Quarterly Dividend PaymentsThe Board of Directors of PJSC Magnitogorsk Iron and Steel Works (“MMK” or “the Company”, ticker: MMK: LI) on 16 October 2017 approved a resolution to convene an extraordinary general meeting of shareholders (EGM) with absentee voting, and approved the agenda for the EGM as follows: Payment of dividends on issued shares of PJSC MMK based on the results of the first nine months of 2017. The decision establishes a new precedent for the frequency of the company’s ...
17 October 2017., 10:23   comment

NLMK VP Receives Adolf Martens Award for Ultrahigh-Strength Steel Research

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 10 October at the Material Science & Technology 2017 International conference in Pittsburgh (USA). This award was established by the Association for Iron & Steel Technology (AIST) in 2010 to honor Adolf Martens, a pioneer in metallography, and ...
13 October 2017., 11:59   comment

Metalloinvest’s HBI-3 Plant recognised as the best investment project in 2017

Metalloinvest’s third hot briquetted iron (HBI) production facility, HBI-3 Plant, has won the 'Investment Project of the Year' prize at the Russian Mining Excellence Awards 2017; HBI-3 Plant was launched at Lebedinsky GOK in July thisyear. The awards ceremony took place at MINEX Russia 2017, the 13th year the international mining forum has occurred. Independent experts praised HBI-3 Plant, which is the largest in Russia and one of the most powerful in the world, with a capacity of 1.8 mn tonnes ...
13 October 2017., 11:58   comment

Severstal introduces digital predictive model to prevent failures at mill-2000

Cherepovets Steel Mill, one of the world’s largest integrated steel plants (part of Severstal’s Russian Steel division), has launched the commercial operation of a digital predictive model to prevent failures at the hot rolling mill 2000 and thereby reduce its downtime. This model calculates the probability and risk of the pinion stand bearings overheating, which is one of the most frequent and costly causes of unit shutdown. This is the first predictive maintenance model introduced at the CherMK ...
10 December 2017., 16:59   comment

Metalloinvest signs new credit facility agreements

Metalloinvest (“the Company”), a leading global iron ore and merchant HBI producer and supplier, and one of the regional producers of high-quality steel, has signed two long-term credit facility agreements with ING Bank guaranteed by export credit agencies (ECA). The funds will be used to purchase equipment for the implementation of investment projects at Ural Steel (part of Metalloinvest). One of the agreements, a EUR 11.5 mn ten-year credit line guaranteed by Euler Hermes Aktiengesellschaft ...
10 October 2017., 14:47   comment

Severstal reports Q3 & 9M 2017 operational results

PAO Severstal (MICEX-RTS: CHMF; LSE: SVST), one of the world’s leading vertically integrated steel and steel-related mining companies, today announces its operational results for Q3 & 9M 2017. Hot metal output remained almost unchanged at 2.23 mln tonnes (Q2 2017: 2.24 mln tonnes) compared with the previous quarter, whereas crude steel production was up 4% at 2.94 mln tonnes (Q2 2017: 2.83 mln tonnes). Crude steel output at CherMK in Q2 2017 was lower due to planned maintenance works at converter ...
10 October 2017., 14:44   comment

MMK EGM approves dividends for H1 2017

PJSC Magnitogorsk Iron and Steel Works ("MMK" or "the Company”) announces that an Extraordinary General Meeting of shareholders was held on 29 September 2017 (“the EGM”) with absentee voting. Shareholders approved by majority vote a dividend on MMK’s issued ordinary registered shares of RUB 0.869 (before taxes) per share for the first half of 2017 (or approximately USD 164 mln in total based on the exchange rate as of the end of the period). This amounts to 75% of free cash flow under IFRS for ...
10 March 2017., 15:47   comment

NLMK closes its U.S. $500 million 7-year Eurobond offering

NLMK (LSE: NLMK), the largest steel producer in Russia and a leading international steel company, today announces the closing of its U.S.$500 million 7-year Eurobond placement with an annual coupon rate of 4.00%. Interest payments on the Eurobonds are payable semi-annually. The proceeds from the issue will be used to finance the purchase of existing Notes due 2018 and 2019 in accordance with the terms and conditions of the Tender Offer announced on 4 September 2017 (settlement is expected on ...
29 September 2017., 14:57   comment

The repayment of Guaranteed Convertible Bonds due 2017

PAO Severstal announces the repayment of US$475,000,000 1.00 per cent Guaranteed Convertible Bonds due 2017 issued by Holdgrove Limited and guaranteed by PAO Severstal. Holdgrove Limited (the “Issuer”), a wholly-owned subsidiary of PAO Severstal (LSE: “SVST”; MICEX-RTS: “CHMF”) incorporated under the laws of the Republic of Cyprus, has fully repaid the US$475,000,000 1.00 per cent Guaranteed Convertible Bonds due 2017 issued by the Issuer and guaranteed by PAO Severstal.
29 September 2017., 14:52   comment

MMK recognised in Top 10 environmental rating in Russia for the 2nd time in a row

PJSC Magnitogorsk Iron and Steel Works (“MMK”) efforts have been recognised as one of the Top 10 environmental initiatives by companies in Russia’s energy and metal sectors in H1 2017. The rankings, compiled by the Modern Media Research Institute and Live Planet TV, include environmental initiatives by 33 Russian metal and energy companies covered in the media in January-June 2017. MMK took 10th place in the ratings, thereby confirming the result from H2 2016 and making MMK the only ferrous ...
22 September 2017., 16:20   comment