Steel

Evraz ZSMK to stop production of flat products

Evraz ZSMK to stop production of flat products

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Gazprom and the Russian pipe producers introduce price formula for seamless pipes and rustproof cover

Today the site of Izhora pipe plant, ITZ, Severstal Group holds the session of the managers of Gazprom and the domestic pipe companies and the Association of pipe producers.
The main points of the agenda are as follows:

  • The signing of the protocols for introduction of the price formula for seamless pipes and outer rustproof cover for pipes from July 1 2013;
  • The presentation of the Russian pipes for tectonic faults areas;
  • The presentation of pipes for the underwater part of South Stream and other innovation products.

Seamless pipes

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Amurmetal suspended production

The only electrometallurgical plant in the Far East Amurmetal of 2 million tons of steel production per year has ceased production because of a lending stop by Vnesheconombank, the enterprise stated. According to a representative of the plant, they have not got financing for about 15 months, while the prices on the domestic and export markets were lower the cost of production.
The loss because of low loading made up 496 million roubles in January-May 2013, Amurmetal stated.

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Kazakhstan. Steel production is down by 18% in Jan-May 2013

Kazakhstan reduced steel making by 17.9% to 1.354 million tons in January-May 2013 against the same period last year. It is said about in the materials of the Gosstat of the country.
In May the enterprises in Kazakhstan increased steel production by 1.6% to 292.1 thousand tons against May 2012, but decreased production by 1.6% against April 2013.

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Mechel to spend $100 million on share buyback

In spite of the net debt at the amount of $9.2 billion and the loss, Mechel has decided to support the quotations of its own shares and announced the $100 million buy back. Analysts say, this decision is “absurd” and state this support cannot last long. The sources say, it is necessary to increase the value of the shares so that the owner of Mechel Igor Zyuzin didn’t have to increase the amount of the shares pledged under the credits.
The company will redeem ADR circulating at NYSE for its ordinary shares. “The redemption will take place at the open market or by means of private transactions depending on market conditions”, it can be stopped whenever the company decides, is said in its report. The ADR will be redeemed by the subsidiary of Mechel Skyblock Limited.

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Russia. Steel production is down by 3.4% in Jan-May

The output of steel went down by 3.4% to 29 million tons, while coal production increased by 0.7% to 144 million tons in January-May 2013 against the same period last year. Rosstat reports.
The decline in steel production  has been continued since early 2013 and it is due to the worsening of the economic situation, experts say.

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MMK hits historical record of 730 thousand tons of commercial metal products in May of 2013

In May of 2013, supplies of the Magnitogorsk metallurgic plant to the Russian market exceeded 730 thousand tons of commercial metal products that is an absolute historical record of the enterprise.
The previous record – 706 thousand tons – was set up by results of August of 2012. The new reached rate is a result of the systematic implementation of the plant’s strategy, focused on growth of metal products supplies to domestic consumers. During the last years, MMK constantly increased dispatches to the domestic market, which was defined as strategically priority by the Management and the Board of MMK because of dynamics of growth and geographic proximity.

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In Q1, TMK TD dispatched 1.058 million tons of pipes

The CEO of TMK TD (TMK Trade House) tells about the operational results of his company in Q1 2013. Pipes dispatch was 1.058 million tons, nearly the same as in Q1 and Q4 2012. OCTG pipes dispatch, the main product of the company was 434,000 tons, by 3.1% more than in Q4. Premium screw joints dispatch increased by 18.5% versus Q1 2012 and by 14% versus Q4 to 163,000.
The company is the leading participant of the Russian pipe market, and the world leader in dispatch.
Translated by Nadezhda Poltoratskaya

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In 2013, A GRUPP is going to sell 600,000 tons of metal products

S. Kuragin, the CEO of A GRUPP has analyzed spot market of pipe products of Russia and has made a report at the Annual congress of the Russian Union of Steel and Metal Producers and Suppliers. He states that within the latest time, he observes cessation of the tendency of prices growing in the beginning of the season, giving an opportunity to the traders to gain profit in the changes in prices. Price dynamics was +1% versus the analogical period of 2011, -19% versus 2011. In January – April, prices grew by 14%. Speaking about the plans of A GRUPP, Mr.

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Metinvest has gained pretax profit of $460 million

The Group declined consolidated profit by 2.55% to $3,134 million. In January – March, Metinvest gained EBITDA (profit before withholding of taxes, dividends and amortization) of.  $460 million. EBITDA margin was 15%. Capital expenses declined by 43% to $96 million.

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