Russia Metals and Mining, Korea Metals and Mining

UC Rusal opens sale office in South Korea

UC Rusal will open sale office in Seoul, South Korea, the company reports.
Production of UC Rusal takes about 15% of the total aluminum, imported by the Republic of Korea. Significant potential of the supply growth is associated with the company’s investments in the production of casting alloys and billets.

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The Ukraine retains place in top ten of countries, producing steel

By results of the work of metallurgical enterprises in August 2015, the Ukraine increased its steel production by 8.6% as compared to August 2014 to 1.919 million tons, retained the 10th place in the ranking of 65 countries, which are the main world manufacturers of these products, compiled by the World Association of producers steel (Worldsteel).
The fall in the steel production in August was recorded in most of the top ten, except for India, South Korea, Germany and the Ukraine.

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In June, global steel production fell by 2.4%

In June 2015, the global crude steel production made up 136 million tons, which is by 2.4% below the level of June 2014.
China produced 69 million tons of steel in June, which is by 0.8% less than last year. Japan also reduced the steel production by 6.2% y/y or to 8.6 million tons. The reduction took place also in South Korea – by 3.6% to 5.9 million tons. But India increased its steel production by 0.8% to 7.4 million tons.

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"Rosneft" asks 400 billion roubles for the reconstruction of the "Zvezda" shipyard.

"Rosneft" had asked the government 400 billion roubles from the National Welfare Fund for the reconstruction of the Far Eastern shipyard "Zvezda", the source in the United Shipbuilding Company told RBC. This information was confirmed by a source in "Rosneft", stating that the amount of "similar to the truth".
In August 2013 Igor Sechin offered the oil company to pass the protracted project of "Zvezda" modernization. Vladimir Putin supported this idea, but stated that USC should have remained in the draft as a junior partner. At a meeting with President Vladimir Putin, which took place on November 13 in Vladivostok, it was decided that "Rosneft" is engaged in a project on its own, including the search for sources of financing, the official of the RF Ministry of Industry and Trade states.

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China is considered an unprofitable customer.

China is considered an unprofitable customer for Russian electricity.
While the state "Inter RAO" and "RusHydro" are seriously counting on large supplies of electricity from Russia to China, En + holding of Oleg Deripaska, assessing the prospects of the business on the order of the government, does not consider China a consumer perspective for the next decade. En + called for electricity exports to South Korea and Japan, as well as the supply of energy-intensive products or services, more profitable. One option for the "indirect" exports may be the attraction of the Chinese investors into En + aluminum projects in Russia, as well as into the construction of data centers that are already ahead of the metallurgy on energy consumption.

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In H1, Russia reduced imports of rolled steel with polymer coverings

In June, imports of steel flat sections with polymer coverings were 69,000 tons, according to the customs and railway statistic data, by 1.8% more than in May 2014 and by 41% less than in June 2013.
In H1, imports reduced by 19.5% to 283,000 tons, the lowest result for the last 5 years.

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Mechel to supply coal to South Korea

A cooperation agreement has been signed between South Korea's corporation GS Global and mining and metallurgical giant Mechel. The parties agreed on supply of forge coal from the Elga deposit to South Korea.
According to the agreements, Mechel’s subsidiary Mechel Carbon Singapore is to supply up to 2.8 million tons of coal, mined from the Elga deposit, to GS Global.

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Cost of coal port Vera in the Far East may be $1 billion

The cost of the construction of the coal port Vera in the Far East to the investors will be around $1 billion, Rostekh - Global Resources’s general directors, Andrei Korobov said in an interview with the IATR-TASS. Rostekh, being initiator of the project and key partner, counts on the financial support from the state, including through the National Welfare Fund (NWF).
"The cost of the port, including all works related to the construction of moorings and port railways, is estimated at $1 billion; approximately half of the funds is required for the construction of roads and railways. We have technical specifications of Russian Railways for 20 million tons (planned capacity of the port), and these technical specifications are within the development of the railways, both in the region and along the entire length of the Baikal-Amur Mainline and Trans-Siberian Railway. We fit in the total picture of freight flows,"- said Korobov.

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KrAZ produces record high of foil alloys

KrAZ has reached a record high production of foil alloys.
There was produced 10,626 tons of metal at the casting aggregate No5 of the Krasnoyarsk aluminium plant of RusAl in May.
KrAZ is the only enterprise in Russia, which produces double-length ingots (up to 11.5 meters). The products of the casting aggregate No5 is mainly supplied to Germany, Greece and Korea.

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Mechel to solve its credit problems by the sale of part of its share in the Elginskoye deposit

The leading Russian mining and metallurgical company Mechel negotiates on the sale of a part of the company’s share in Elgaugol, which owns a license for development of the largest coking coal deposit in Yakutia.
According to the ITAR-TASS, the largest metallurgical company of South Korea Posco and the largest state-owned steel-smelting company of China Baosteel are interested in the purchase of a share in the  Elginskoye deposit.
According to executive secretary of the Russian-Chinese chamber, Sergei Sanakoev, the negotiations of Baosteel with Mechel have lasted for a half of year already. The Chinese company is interested in from 26% to 50% in the Eginsky project. At the same time, Baosteel is interested not only in purchase of a share in Elgaugol, but also in the joint development of infrastructure, including the construction of a terminal for 3 million tons per year in port of Vanino, Sanakoev said.

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