Metallurgy news

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  • 2008-10-17 12:19:03
    RUSAL: production and summary financial results for the first nine months of 2008
    Highlights* Bauxite output rose 3.4% to 13.5 mln tn  compared to the same period last year Alumina output grew 2% to reach 8.4 mln tn Primary aluminium production increased 6.5% to 3.3 mln tn Output of value-added casthouse products increased 10.8% to ...
  • 2008-10-17 10:52:54
    Record Start for TMK IPSCO
    TMK announces third quarter production results at its US subsidiary. In the third quarter of 2008, TMK IPSCO shipped 231.9 thousand tn of pipe products to its customers, including 86.1 thousand tn in September alone.  Steel production amounted to 85 thousand tn. The September ...
  • 2008-10-17 09:58:35
    Mechel reports Its operational results for the nine months of 2008
    Mechel announced its operational results for the first nine months of 2008. Product First nine months of 2008, thousand tn First nine months of 2008 vs. first nine months of 2007, % Coal 20,702 + 54 ...
  • 2008-10-16 11:20:41
    Izhorskiye Zavody completes reactor vessel for floating nuclear power plant
    Izhorskiye Zavody, a part of OMZ Group, has produced the first KLT-40S reactor vessel for a floating nuclear power plant. The reactor successfully passed hydraulic testing for metal and welded joint strength. Results of the hydraulic testing were evaluated by a commission which included ...
  • 2008-10-15 11:59:03
    Domestic Russian rebar down to $600-650 per tn in October
    Russian rebar producers have sold October production material at $600-650 per tn ex-works as poor demand in world markets forces prices down. Domestic Russian rebar prices have halved from highs of $1,150-1,200 per tn ex-works, August production, according to MB’s pricing archive. ...
  • 2008-10-15 11:44:27
    Decision of the Board of Directors of OGK-3
    The Board of Directors of OGK-3 adopted a strategy to expand its asset base and create a diversified holding to include assets in gas and alternative energy, including hydrogen and peat energy. In pursuit of this strategy, the Board of Directors has authorized the following strategic ...
  • 2008-10-14 13:08:51
    Metalloinvest has become a member of the International Iron and Steel Institute
    Metalloinvest Management Company has become a member of the International Iron and Steel Institute - one of the largest industry associations in the world which unites about 180 steel producers, national and regional steel industry associations, and steel research institutes. The decision ...
  • 2008-10-14 12:37:54
    UC RUSAL receives resolution from arbitration court on suit against LUKOIL
    UC RUSAL announces that it has received the decision of the Moscow arbitration court on its suit against LUKOIL. In accordance with the appeal filed by UC RUSAL on 13 August 2008, LUKOIL is obliged to supply about 20,000 tn of oil coke to UC RUSAL smelters. The court has also ruled that ...
  • 2008-10-14 12:14:16
    Severstal announces revised production estimates in light of changing global economic conditions
    As a result of slower demand for steel products due to recent changes in global economic conditions, OAO Severstal today announced its decision to reduce production at its steel plants in Russia, North America and Europe for the month of October. In Russia, Severstal will reduce production ...
  • 2008-10-08 15:40:42
    Metal-Expo Provides Better Conditions for Market Participants
    Metal-Expo’2008, the 14th International Industrial Exhibition which will be held on November 11-14, 2008 at Crocus Expo Fairgrounds stirs up interest of Russian and international producers of metal and steel products as well as metalworking companies. According to forecasts of the ...
  • 2008-10-02 17:54:46
    Chelyabinsk Zinc Plant has put a Sulphuric Acid System into operation
    Chelyabinsk Zinc Plant has completed implementation of a big investment project, having put the sulphuric acid system (Unit No.4) into operation upon its complete overhaul. The value of the project amounts to $35 mln. It’s worth mentioning that five sulphuric acid systems are operating ...
  • 2008-10-02 17:45:13
    Metalloinvest holding and Chelyabinsk Pipe Rolling Plant expand cooperation
    Representatives of Metalloinvest Management Company and Chelyabinsk Pipe Rolling Plant met at Ural Steel (a subsidiary of Metalloinvest holding) and discussed prospects for further cooperation.  Ural Steel and Chelyabinsk Pipe Rolling Plant are long-term partners and Ural Steel is to ...
  • 2008-10-02 17:32:14
    MMK does not rule out the possibility of a share buyback
    OJSC MMK does not rule out the possibility of a buy back of its own shares on the balance of one of its subsidiaries because the Company considers the share price to be significantly underestimated due to the influence of external macroeconomic factors, which are irrelevant to the ...
  • 2008-09-30 15:46:39
    OMZ Special Steels Secures License for Production of Semi-Finished Products for Nuclear Power Plants
    OMZ Special Steels LLC, a part of OMZ Group, has been granted a license by Russia’s Federal Service for Environmental, Technical and Nuclear Surveillance (Rostechnadzor) for the production of equipment for nuclear power plants. The license number is СЕ-12-101-2261 dated Sept. 15, 2008 and ...
  • 2008-09-29 10:22:57
    TMK expands its premium-class tube capacity
    TMK announced that a 600 thousand tn capacity Premium Quality Finishing (PQF) seamless rolling mill was brought on line as scheduled at its TAGMET plant in south-western Russia. The first batch of PQF seamless pipes was shipped to Surgutneftegas. TMK is the first global pipe producer to ...
  • 2008-09-29 10:17:35
    Mechel announced the acquisition of HBL Holdings
    Mechel announced the acquisition of a 100% stake in HBL Holding GmbH by its Mechel Service OOO service and sales subsidiary. The acquisition is consistent with Mechel Service OOO’s continued implementation of its program of expanding its sales network, enhancing and ...
  • 2008-09-16 16:33:36
    Severstal announces share buyback programme
    Severstal today announces the start of a share buy-back programme of up to $400 mln, the equivalent of 2.8% of its share capital based on the closing price of $14.04 of the Company’s London listed GDRs on September 15, 2008. The Shares and GDRs will be repurchased on Severstal’s ...
  • 2008-09-15 11:28:22
    Evraz Completes the Disposal of Vanadium Assets in South Africa
    Evraz Group S.A. announceв that it has successfully completed the disposal of certain vanadium assets in South Africa. In 2007, Evraz committed to procure the disposal as a condition to the approval by the European Commission and South African competition authorities of its acquisition of a ...
  • 2008-09-11 10:48:15
    Metalloinvest wins license for one of the world’s largest copper deposits
    Metalloinvest, through its subsidiary Mikhailovsky GOK, announces that it has won the license to extract and process copper and other mineral resources from the Udokan deposit from the Natural Resources Ministry of the Russian Federation.  Metalloinvest is one of the largest and fastest ...
  • 2008-09-11 10:34:40
    Evraz Group completes the acquisition of Ukrainian assets
    Evraz Group S.A. announces completion of the second stage of the acquisition of select production assets in Ukraine. As a second stage, 4,195,150 shares in Evraz (“New Shares”) have been issued in favour of Lanebrook Limited in exchange for 48.6% of  Palmrose Limited, the owner ...
  • 2008-09-10 14:53:23
    TMK Premium Technology Licensed to Chinese Producer
    TMK announces today that it has entered into an agreement to license TMK FMC premium connection technology to Chinese tubular producer Beijing Huayou Xingye Materials Co (BHXM). TMK-Premium Service, a TMK subsidiary specialised in the production and supply of premium connections to the ...
  • 2008-09-09 10:40:23
    Mechel Commences Construction of Coal Transshipment Complex at Vanino Port
    Mechel announces that it has launched the initial project stages to construct a specialized coal transshipment complex at Vanino Port (Vanino SCTC), Khabarovsk reg., Russia. The specialized coal transshipment complex at Vanino SCTC is an integral part of the Neryungrinsky and Elga coal ...
  • 2008-09-05 11:38:16
    NLMK: another acquisition in North America for $400 mln
    Novolipetsk Steel yesterday signed a definitive agreement to acquire Beta Steel, a U.S. hot-rolled steel producer, from a group of private shareholders for an all cash consideration of $400 mln, on a debt free, cash free basis. The transaction is subject to customary regulatory approvals and is ...
  • 2008-09-05 11:14:16
    UC RUSAL introduces new waste processing technology
    UC RUSAL announced that it has developed a unique process for waste recycling. This new technology is applied at the company’s smelting operations in Bratsk (BrAZ) and allows saving over $2 mln every year. The new technology helps to reduce quantities of solid waste from the ...
  • 2008-09-04 11:20:21
    Severstal reports strong H1 results across all divisions
    Financial Results for the six months ended 30 June, 2008  ($ mln unless otherwise stated)   H1 2008 H1 2007 4 Change, y-o-y Revenue 10,547 ...
  • 2008-09-03 11:40:58
    Mechel eyes German metal trader
    Mechel is eyeing a German metal trader. Experts believe that this could be attributable to the company’s plans to ramp up output of stainless steel rolled products at Chelyabinsk Metallurgical Plant and launch these products on the European market. Mechel Group has applied to ...
  • 2008-09-03 11:34:50
    TMK Ships Premium Connections to Surgutneftegas
    TMK announces that its TMK-Premium Service division began supplying TMK-PF ET premium threaded casing connections to Surgutneftegas. The first shipment of TMK-PF ET to Surgutneftegas consisted of 120 tonnes of premium threaded 168 mm casing with 8.94 mm wall thickness. In addition to the PF ...
  • 2008-09-02 12:21:21
    NLMK passes shipbuilding slab production audit
    Novolipetsk Steel has successfully passed a re-certification audit of its shipbuilding slab production carried out by the American Bureau of Shipping (ABS). The audit comprised the inspection of NLMK’s shipbuilding steel production process, technical control departments, and current ...
  • 2008-09-01 17:03:10
    PSI Continues Successful Internationalisation in the Steel Industry
    PSI has been charged by ThyssenKrupp Stainless USA with the delivery and implementation of the production management system PSImetals for the stainless steel plant being built in Alabama, USA. The new plant will consist of, amongst other things, an electro-steel mill and cold rolling mill ...
  • 2008-08-29 13:35:16
    Evraz Announces 2008 Interim Results
    Evraz Announces 2008 Interim Results Evraz Group S.A. today announces its unaudited interim results for the six months ended June 30, 2008.   1H 2008 Highlights: Financials: Revenue grew 78.2% to $10,726 mln due to strong pricing, acquisitions and improved ...
  • 2008-08-29 12:27:52
    New Belon Coal Mine Guarantees Raw Materials Supply of MMK
    Russian coal producer Belon, in which MMK holds a 41,3 percent stake, set in operation the Kostromovskaya mine in Kemerovsk Region. Cutting edge technology and automated process guarantee production of 2 million tones of coking coal of deficient grade per year. As the Kostromovskaya mine ...
  • 2008-08-28 10:13:32
    NLMK H1 2008 US GAAP Results
    Ferrous metal makers remain under pressure from rising costs. NLMK reported a significant boost in its financial indicators. However, the company posted softer EBIT and EBITDA margins.    H108 H107 Growth % Antanta Pioglobal ...
  • 2008-08-28 10:08:56
    ChTPZ projects lower 2008 output
    ChTPZ Group released its financial results for 2007 and also operating targets for 2008. Based on the data, consolidated net income generated by the group’s pipe division surged 21.7% to $254 mln in 2007, revenue spiked 32.6% to $3,126 mln and operating profit climbed 24.4% to $397 mln. ...
  • 2008-08-27 10:17:41
    Mechel announces its progress in the constraction of the Elga deposit access road
    Mechel announces that its subsidiary, Yakutugol Joint Stock Holding Company, continues active construction work on the Elga coal deposit access road. In February 2008, Mechel started construction of the railway spur-track to the Elga deposit. An opening ceremony for this work was held on ...
  • 2008-08-25 11:49:22
    Norilsk Nickel buys back its shares
    The company has announced a share buyback at $254 per share, which is 27% higher than the market price at the last session’s close. “Norilsk Nickel intends to buy-back its own shares in order to support the Company’s securities, which went down in price significantly in the ...
  • 2008-08-22 15:19:07
    Severstal Resources Reaches Agreement to Acquire PBS Coals
    Through its mining division Severstal Resources,  Severstal today announced that it intends to acquire the business of PBS Coals Corporation ("PBS”) by way of an acquisition of Penfold Capital Acquisition Corporation (TSX VENTURE: PNA.P) ("Penfold") following a ...
  • 2008-08-22 12:28:36
    VSMPO-Avisma reduces titanium product supplies
    A slowdown in demand for air transportation in developed countries has translated into lower supplies of titanium products to the largest aircraft manufacturers – Boeing and Airbus. According to a statement issued by the company, the civil aircraft industry remains under pressure. The ...
  • 2008-08-22 07:48:13
    TMK-Kaztrubprom Shipments
    TMK announces that its TMK-Kaztrubprom subsidiary began shipments of oil country tubular goods (OCTG). TMK-Kaztrubprom shipped 240 tonnes of tubing with couplings. Kaztrubprom joined TMK in June 2008 and specialises in the threading and finishing of tubing and casing pipes used in the oil ...
  • 2008-08-21 16:01:49
    Optimal Plate Mill Scheduling and Plate Nesting with SteelPlanner at ArcelorMittal Asturias
    As part of a major expansion project on the heavy plate mill of Avilés, ArcelorMittal Asturias selected the AIS solution to improve scheduling and plate nesting.   BetaPlanner, the well proven AIS module for rolling mill scheduling optimization, will be implemented to increase ...
  • 2008-08-21 10:58:24
    Standard & Poor's ratings service affirms the investment grade 'BBB-' rating on MMC Norilsk Nickel with stable outlook
    MMC Norilsk Nickel announced that on August 20, 2008 Standard & Poor's Ratings Service affirmed its 'BBB -' rating on the Company following a review of its performance and recent shareholding developments. The outlook is stable. According to the agency the rating reflects the Company's ...
  • 2008-08-20 13:18:42
    Evraz Group and Raspadskaya to share Mechel’s fate
    Another “metallurgical case” seems to be drawing to a close. Head of the Russian Antimonopoly Service (FAS) Igor Artemiev reported yesterday that similar fines are to be imposed against Evraz Group and Raspadskaya as in the case of Mechel, which we view as a good news for both ...
  • 2008-08-20 12:26:46
    FAS to fine Mechel $30 mln
    In all likelihood, the Mechel affair is history, which means that metal makers and investors alike can breathe a sigh of relief. FAS will fine the metal major $33 mln and order the company to lower its coal concentrate prices by 15% starting September 1, 2008. Yesterday, the Federal ...
  • 2008-08-20 10:54:33
    MMK announces Interim Results for the Six Months ended 30 June 2008
    Magnitogorsk Iron and Steel Works today announced its consolidated financial results according to US GAAP for the six months ending 30 June 2008. Financial Highlights *        Revenue up by 41% to US$5653 million, driven by pricing and incremental ...
  • 2008-08-19 10:38:28
    Mechel Announces Launch of an Upgraded Medium-Section Mill at Mechel Targoviste
    Mechel announces the launch of a medium-section mill at its Mechel Targoviste facility (Targoviste, Romania) following the execution of fundamental renovations. Implementation of this project was performed within the scope of an extensive program for modernization of production at ...
  • 2008-08-18 22:55:05
    Metalloinvest and Chelyabinsk Pipe Rolling Plant signed a long-term agreement on supply
    Metalloinvest and Chelyabinsk Pipe Rolling Plant signed a long-term agreement on supplies of strip and tube billets. According to the agreement Ural Steel (a subsidiary of Metalloinvest holding) will deliver over 60 thousand tn of steel products monthly to Chelyabinsk Pipe Rolling Plant since ...
  • 2008-08-18 14:03:29
    PSI Expands Offerings and Market Position in the Metals Industry
    Integration of the aluminium and copper specialist 4Production The PSI AG has acquired 100 percent of the shares of 4Production AG, headquartered in Wurselen near Aachen. 4Production is a specialized provider of metals supply chain consulting and, with its production management solutions, ...
  • 2008-08-18 10:14:08
    UC RUSAL files lawsuit against LUKOIL
    UC RUSAL has filed a lawsuit with the arbitration court against LUKOIL, the primary supplier of oil coke to UC RUSAL’s facilities, for disruptions in its supply of raw materials. Since April 2008, LUKOIL has reduced the supply of oil coke to UC RUSAL’s largest aluminium smelters ...
  • 2008-08-18 09:55:39
    Evraz secures $725 mln of bank financing
    Evraz Group S.A. announces the closing of a $550 mln five-year revolving credit facility and a $175 mln five-year term loan facility for its North American division, Evraz Inc. NA. The facilities bear the floating interest rate of LIBOR plus 2.5% and LIBOR plus 3.25% respectively and are ...
  • 2008-08-13 11:39:21
    Belon Group: Performance Results for 6 Month Period
    According to the performance results for the first six months of 2008, Belon Group achieved a significant increase in coal preparation and sales compared to the similar period of the last year. In the reported period, the volume of metallurgical ...
  • 2008-08-13 11:34:47
    Novolipetsk Steel to Acquire John Maneely Company from The Carlyle Group for $3.53 bln
    Novolipetsk Steel has signed a definitive agreement to acquire U.S. steel pipe and tube manufacturer John Maneely Company (JMC) from a shareholder group including global private equity firm The Carlyle Group and the Zekelman family for $3.53 bln, acquiring the company on a debt free, cash free ...