Russia Metals and Mining

Mechel increases supply of coal to Chinese Baosteel Resources to 1.2 million tons

Mechel has announced the prolongation of an agreement with the Chinese corporation Baosteel Resources. The supplies of the Russian party will grow up to 1.2 million tons of coking coal per year, Mechel’s press-release reports. The agreement was concluded for a period from April of 2014 till March of 2015 with possibility of further prolongation. The price of the supplies will be determined every month..

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NLMK enlarges own sort rolling capacities for maintenance of its share in the market

M. Gerasimova, the director of the sales department of NLMK-Sort has characterized the state of the Russian sort steel market, at the conference ‘Reinforcement and sort steel: the Russian market configuration 2014’ in Moscow. Visible sort steel consumption in the construction sector was 14.4 million tons. By 2014, it can reach 14.7 million tons. Reinforcement steel consumption increased by 6.7% versus 2007 that was the highest result in Russian consumption. The share of imports at the reinforcement steel market declines after the launch of the new rolling capacities in Russia. It was especially large in Q1 2014 when the participants of the market noticed stabilization in consumption and demand at the internal reinforcement steel market. Prices can slowly restore at the background of stabilization of demand.

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In January – March, the largest metal combines considerably reduced scrap metal purchase

In January – March, the largest metal combines considerably reduced their scrap metal purchases to 2.14 million tons according to the railway statistics, by 2.8% less than in Q1 2013, and the lowest result for Q1 within the last 5 years. MMK reduced purchase by 23%, compared to the first place in 2013. The Cherepovets metal works of Severstal reduced purchase by 38.5%, compared to the third place in 2013. NLMK reduced purchase by 12%, compared to the fifth place in 2013.

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By the beginning of 2014, 50 mini-mills are operating in the CIS sort steel market

A. Bayev, the director of Metal Expert Consulting has analyzed the changes at the sort steel markets in connection with appearance of the new production entities, at the conference ‘Reinforcement and sort steel: the Russian market configuration 2014’ in Moscow. By the beginning of 2014, 50 mini-mills are operating in the CIS market. Their total capacity is 35 million tons, and the total capacity of sort steel producers is over 140 million tons. The presuppositions for the construction of the new steel mini-mills were the need in the creation of the enterprises oriented to the production of special purpose steel, rolled steel made of special sorts, re-orientation of martin to electric steel, the provision with semi-finished rolled stock of own rolling capacities, regional disbalance – discordance of active capacities and the production volumes, the need for the utilization of available scrap metal to products with added value sold locally.

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UC Rusal increased its net loss under IAS in 2013 after publication of Norilsk Nickel’s accounting

UC Rusal increased its net loss under IAS in 2013 by $100 million after publication of Norilsk Nickel’s accounting, the company reported..

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Russia increased ferrous metals exports

In January – February, Russia increased ferrous metals exports by 3.3% to 5.681 million tons, the Federal Customs Service reports. Steel pipes imports from far abroad increased by 23.7% to 58,000 tons for $115.4 million.
Ferrous metals exports reduced in profit by 0.2% to $3.042 billion. Russia increased supplies to far abroad by 4% to 4.86 million tons for $2.55 billion, and exports to far abroad remained 823.3 million tons for $492.4 million (-16%).

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Russian FES maintains leading positions on global markets

The Russian Fuel and Energy Sector intends to maintain its leading positions on world markets under the Energy Development Strategy though until 2035, Energy Minister Alexander Novak said.
 
The Minister emphasized that maintaining a high level of competitiveness, the Russian FES should provide the demand for innovations, high-tech production, as well as provide high-paying jobs and participate in the development of infrastructure.
Novak reported that last year the Russian FES maintained its leading position on the global energy markets: "We are consistently ranked first in the world in export of gas, we share the first or second place in the oil export, we are the third largest exporter of coal. In general, Russia takes the third place in the world for the production of energy sources, and this largely explains the high proportion of the fuel and energy sector in the Russian economy. Energy sources provide 30 % of the gross domestic product, 39% of all investments in the economy and more than two thirds of export

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Mechel and Binder sign a contract within the project of the Elginsk deposit exploration.

"Mechel" has signed a contract with the Austrian company Binder on the first stage of Elga coal complex development project, the Russian company stated. Under the contract until late 2014 the Binder has to provide the engineering services for the drying line design process for the first stage of the Elginsk coal complex.

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Russia plans to move the centre of coal mining from Kuzbass to the east of the country.

Russia plans to move the centre of coal mining from Kuzbass to the east of the country.
The important adjustments to long-term program of development of coal industry till 2030 were made at the regular meeting of the Russian government. It is about shifting the centre of the coal mining from Kuzbass to the eastern regions of the country.
The first reason for this decision – is geographic. The Kemerovo region, where two-thirds of the Russian coal is mined is far from the main markets. The distance of four to five thousand kilometers from the export ports, the high railroad rates and the limited capacity of the railway make Kuzbass’ coal uncompetitive on the world market. With the significant decrease in prices the region is becoming increasingly difficult to export their goods and compete with the suppliers from Australia and Indonesia, which benefit from the coal mines close to the ports.

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Metalloinvest announces changes in its Board

The following persons were elected in the new Board of Directors:
• Streshinskiy Ivan, chairman of the Board;
• Aglyamova Galina, independent non-executive director;
• Kazikaev Valery, independent non-executive director;
• Levin Vadim, independent non-executive director;
• Lupicheva Irina, non-executive director;
• Soldatenkov Sergey, non-executive director;
• Chumatchenko Natalia, non-executive director;
• Varichev Andrey, executive director;
• Tarasov Dmitry, executive director.

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