News. Russian ferrous metallurgy news. October

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