News. Russian ferrous metallurgy news

ChelPipe successfully refinanced syndicated loans

Chelyabinsk Pipe Plant (ChelPipe) has announced early extinguishment of the syndicated loans totaling 80 billion rubles obtained in 2012. The loans were refinanced with funds obtained under credit arrangements signed with VTB Bank, Gazprombank and Sberbank in December 2016. The new loans have been acquired on more favorable terms, which helped the Company cut its interest expenses and optimize the repayment schedule for the main debt. The guarantee of the RF Ministry of Finance granted in 2012 ...
20 January 2017., 11:00  

EVRAZ grew output of coking coal concentrate

EVRAZ has announced its operational results for the full year of 2016. In 2016, consolidated crude steel production and steel product output, net of re-rolled volumes, decreased by 5.7% and 6.1% respectively. This was mainly due to weak tubular and rail markets in North America, lower crude steel production at EVRAZ ZSMK due to planned capital repairs at blast furnaces in 2016, and the deconsolidation of EVRAZ Highveld Steel and Vanadium in April 2015. Changes in the steel product mix reflected ...
19 January 2017., 10:30  

TMK plans to increase shipments in 2017

In 2016, TMK shipped a total of 3,440k tonnes of tubular products, down 11.2% y-o-y. The decline was mainly due to lower welded pipe sales. Seamless pipe shipments remained almost flat y-o-y at 2,399k tonnes. Welded pipe shipments were 1,042k tonnes, down 28.7% y-o-y, mainly due to lower output across all types of welded pipe at the American division and lower consumption of large-diameter pipe (LDP) in Russia. OCTG shipments were down 5.3% to 1,401k tonnes, mostly due to lower demand for welded ...
13 January 2017., 12:00  

NLMK Europe Plate Division management is changed

NLMK Group has announced the appointment of Cornelius Louwrens as the CEO of NLMK Belgium Holdings1 plate business. It includes two of NLMK Group’s European sites: NLMK Clabecq (Belgium) and NLMK Verona (Italy), and together with NLMK DanSteel (Denmark), comprises the NLMK Europe Plate Division. Cornelius Louwrens will continue as member of the Management Board and Director of Operational Efficiency for NLMK International B.V., a holding company for NLMK’s international assets. Igor Sarkits, ...
01 November 2017., 12:00  

ChelPipe signed credit lines with 3 banks

Chelyabinsk Pipe Plant (ChelPipe) announceв lines of credit signed with Sberbank, VTB Bank and Gazprombank amounting up to 80 billion rubles. The maturity of the loans is up to 7 years. The funds will be spent on refinancing the current debt under the syndicated loan obtained from 13 banks in 2012. This will facilitate an early repayment of the government guarantee for the said loan. The new loans have been acquired under favorable terms and will help the Company optimize the repayment schedule ...
01 September 2017., 06:00  

IMH increases debt

Eurasian Development Bank (EDB) and the Industrial Metallurgical Holding (IMH) signed a loan agreement to boost iron ore outputs. The document was signed by Konstantin Limitovsky, Deputy Chairman of the Management Board at EDB, and Evgeny Zubitskiy, President of IMH. In accordance with the agreement, EDB will provide $90 million to IMH for eight years. The borrower in the transaction is Kombinat KMAruda and the guarantors are Koks and Tulachermet. The facility will finance a project to enhance ...
01 April 2017., 06:00  

Metalloinvest extended cooperation with Globaltrans

Metalloinvest and Globaltrans today announced that the companies have extended the long-term service for a further three-year period. The key terms of the contract remain unchanged - Globaltrans will continue servicing 100% of Metalloinvest’s freight rail transportation needs. "The contract extension builds on years of hard work and a rewarding business relationship. As in the past, we look forward to the exceptional service we have received from Globaltrans,” said Andrey Varichev, CEO at Metalloinvest. ...
29 December 2016., 10:04   comment

NLMK Group to build new reheating furnace at NLMK Pennsylvania

NLMK Group has signed an agreement for the purchase of the core process equipment for the construction of a new walking-beam reheating furnace to streamline the slab heating process at NLMK Pennsylvania (Farrell, PA, USA). The new furnace will replace 3 outdated pusher-type furnaces currently operational at the facility. The reheating furnace, which will have a capacity of 395 tonne per hour or around 1.7 million tonnes per year, pre-heats steel slabs prior to further rolling at the hot strip ...
26 December 2016., 15:11  

Renaud Moretti appointed CEO of NLMK Europe Strip

NLMK Group announced the appointment of Renaud Moretti as CEO of NLMK Europe Strip, the division which includes NLMK La Louviere, NLMK Strasbourg and the service centre NLMK Manage. The division was previously managed by Ben de Vos, who is now holding the position of CEO of NLMK International, the company which manages NLMK Group’s international operations. Renaud Moretti, currently the COO of NLMK Europe Strip, will assume the position of CEO on January 1, 2017. Ben de Vos, Chairman of NLMK ...
21 December 2016., 06:00  

Metalloinvest is to modernize Ural Steel

Metalloinvest has signed a contract with SMS Concast AG (Switzerland) for the modernisation of the four-strand continuous casting machine at Ural Steel (CCM #1). As part of its modernisation, CCM #1 will be adapted to produce 455mm billets for railway wheels and square billets with section measurements of 300 x 330 mm for rail production. SMS Concast will produce and supply the new equipment. Andrey Varichev, CEO of Management Company Metalloinvest, commented: "The modernisation of CCM #1 at ...
20 December 2016., 14:14   comment

Mechel has attended Metal-Expo

Mechel Group reports its participation in the 22nd International Industrial Exhibition Metal-Expo, which was held at the All-Russia Exhibition Center in Moscow on November 8-11, 2016. Within the expo’s framework, representatives of the Mechel Group’s steel division enterprises held a series of important meetings with potential clients, including Chinese and European companies. “Mechel Group’s booth became one of the most visited and lively negotiation areas,” Mechel-Steel’s Chief Executive Officer ...
11 November 2016., 17:10   comment

TMK signs contract with Petroleum Development Oman

The Sultanate’s leading pipe manufacturer, TMK Gulf International Pipe Industry (TMK GIPI), part of global pipe manufacturer TMK, has signed a four-year 200 million USD contract with Petroleum Development Oman (PDO) to produce and supply a variety of pipelines sized 6”-24” diameter. Almost 80% of the awarded contract represent 6” line pipes (flowlines) widely used by PDO in day to day operations. This achievement is a result of a teamwork between the whole TMK Group, Technical Expertise, Research ...
11 July 2016., 14:05  

NLMK Group centralizes control over European projects

NLMK Group is opening NLMK Europe’s Project Office, a new division for integrated planning and implementation of investment programmes at the Group’s European facilities. Konstantin Lagutin, NLMK Group’s VP for Investment Projects, said:“The new project office will allow us to integrate our European businesses into the unified corporate system, in order to manage NLMK Group’s investment activities whilst increasing the efficiency of project elaboration, development and implementation. This will ...
11 February 2016., 13:00   comment

NLMK Group expands use of recoverables in midstream operations

NLMK Group has completed hot-testing of its new crushing and screening unit for the processing of steelmaking slag at its Lipetsk production site. The project will double the amount of scrap, or ‘metal inclusions‘, extracted from waste and returned to the production process. The new unit will process 2.4 million tonnes of slag per year, replacing an obsolete unit, which processed 1.7 million tonnes of slag per year. Metal extraction efficiency at the new unit will be as high as 95%, which will ...
17 October 2016., 12:08  

TMK reduced steel pipes sales

In the nine months of 2016, TMK’s plants shipped 2,558 thousand tonnes of tubular products, down 12.8% y-o-y. This decline was mainly due to lower welded pipe sales. Seamless pipe shipments were down 1.9% to 1,765 thousand tonnes, primarily due to lower shipments of seamless line pipe in Russia and North America. Welded pipe shipments were 793 thousand tonnes, down 30.2% y-o-y, due to lower shipments of welded line pipe and welded industrial pipe in the Russian and North American markets as ...
14 October 2016., 16:45  

TMK ships pipe to build 2018 World Cup stadiums

TMK has shipped a batch of seamless pipe for the construction of Mordovia Arena stadium in Saransk, which will host the 2018 FIFA World Cup matches. The contractor for the new stadium will receive 210 tonnes of 219 mm and 426 mm S440 grade steel seamless pipe. This is not the first batch of pipe shipped by the Company to support the stadium construction project in the Russian republic of Mordovia. Last year, TMK supplied to Saransk 1.6 thousand tonnes of pipe for the metal structures of the ...
10 December 2016., 06:00  

EVRAZ received new TSI certificate for its rails

EVRAZ ZSMK has obtained a TSI certificate on its 49 E1 rail produced to the European standard. The mill offers these rails both non-treated and head-hardened in lengths up to 100 meters. The certificate issued by the German TUV Rheinland InterTraffic allows to supply the 49 E1 rail to Europe. «Rails are EVRAZ's premium product. Therefore extending the range and sales markets is our priority, said Ilya Shirokobrod, EVRAZ's Vice President, Sales and Logistics. –Our engineers continue the effort ...
10 October 2016., 12:15  

Gazprom and ChelPipe sign a roadmap for launching new generation pipe production

Alexey Miller, Chairman of the Board of Directors, Gazprom, and Andrey Komarov, a shareholder and member of the Board of Directors of ChelPipe, signed a roadmap for launching the production of new generation pipes. Under the roadmap, ChelPipe will develop for Gazprom a laser welding technology to manufacture longitudinally welded, large diameter pipes and fittings made from both conventional and high strength steel grades (X80-X120). This is the world's first batch large diameter pipe manufacturing ...
10 May 2016., 17:39  

NLMK Group and KamAZ expand cooperation

NLMK Group, and KamAZ, Russia’s leading heavy-duty truck manufacturer, have held their first Coordinating Council. At a meeting held in Naberezhnye Chelny, the two companies discussed steel deliveries, as well as the possibility of manufacturing new machinery for NLMK, including with the use of premium Quard steel. NLMK and KamAZ intensified their cooperation in May this year. Currently, NLMK Group supplies the car manufacturer with cold-rolled steel which is used to manufacture truck cabins. ...
10 April 2016., 12:02  

Metalloinvest and Aktobe Rail and Section Works sign long-term contract

Metalloinvest and Aktobe Rail and Section Works in Kazakhstan have signed a long-term contract for the supply of rail and shaped billets. Under the terms of the agreement, the shipments will amount more than 600,000 tonnes in total. The rail and shaped billets will be supplied by Ural Steel (part of Metalloinvest) in 2017-2020. Andrey Varichev, CEO of Management Company Metalloinvest, commented: "The signing of a new long-term contract between Metalloinvest and Aktobe Rail and Section Works ...
10 April 2016., 11:00