Metallurgy news

Mechel’s hardware production upgrade project wins state support

Mechel reports that the Supervisory Board of Russia’s Industry and Trade Ministry’s Industrial Development Fund approved a low-interest loan to Mechel Group’s Beloretsk Metallurgical Plant for upgrading its wire and rope production facilities. The project’s cost will total 1.5 billion rubles, with the Industrial Development Fund footing the bill for 50% of this sum, or 750 million rubles. The loan’s maturity is five years. The project includes a large-scale technical upgrade of Beloretsk Metallurgical ...
19 April 2019., 15:24   comment

MMK expands its range of metal products with high added value

PJSC Magnitogorsk Iron and Steel Works (MMK) shipped the first batch of rolled products with new consumer properties. Improved quality characteristics of hot-rolled sheet metal are obtained through the use of a unique technology which cleans scale from the surface of the sheet. The emergence of new steel products with unique quality properties was made possible by the implementation of a project by Kama-Trade Tatarstan to construct a Brandsteel Service Metalworking Centre (SMC) which has the ...
19 April 2019., 15:20   comment

Q1 2019 NLMK Group Trading update

NLMK Group (LSE: NLMK, MOEX: NLMK), a vertically integrated steelmaker, has published today its preliminary Q1 2019 operating results. Q1 2019 highlights: Steel output decreased by 4% qoq to 4.2 m t due to the overhauls at the Russian sites and seasonal factors. A 3% yoy steel output reduction is also due to the overhauls in Q1 2019. Steel capacity utilization remained high at 96% (-2 p.p. qoq). Sales remained almost flat qoq totalling 4.6 m t (-1% qoq) supported by the sales of inventories ...
19 April 2019., 15:17   comment

Severstal reports Q1 2019 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 Q1 2019. Q1 2019 GROUP HIGHLIGHTS Hot metal output increased 6% q/q in Q1 2019 to 2.36 mln tonnes (Q4 2018: 2.23 mln tonnes) following short-term maintenance works at BF#2 in the previous quarter. Crude steel production grew to 3.04 mln tonnes (Q4 2018: 2.94 mln tonnes) reflecting an increase in pig iron production ...
19 April 2019., 15:16   comment

RUSAL and Braidy Industries will construct a green field aluminium rolling mill in Ashland, Kentucky

RUSAL and Braidy Industries Inc., a US-based holding company which owns both Veloxint, an MIT-incubated lightweighting solutions company, and NanoAl, a Northwestern University incubated materials research and technology company, announced an intent to establish a joint project in Ashland, Kentucky, USA to produce flat rolled aluminium products for the US automotive industry. The design capacity of the rolling mill will amount to 500 thousand tons of hot rolled band and 300 thousand tons of fully ...
19 April 2019., 15:12   comment

RUSAL and Tiocomposite test production technique for sulphur concrete using red mud

RUSAL (stock code at the Hong Kong Stock Exchange: 486, at the Moscow Exchange: RUAL), one of the world's largest aluminium producers, and Tiocomposite signed a memorandum of intent to set test production of sulphur polymer concrete using alumina production waste in the Republic of Tatarstan, Russia. The details of the economic and organisational conditions of the project, as well as its location, are expected to be agreed upon in 2019. In 2017, RUSAL initiated R&D to explore opportunities for ...
04 March 2019., 12:35   comment

MMK increases sales for its SteelArt polymer-coated products

It has been three years since the commissioning of the polymer-coating unit No. 5 at the Lysvensky Metallurgical Plant, which currently manufactures products with decorative designs under the SteelArt brand. These products consist of a metal base with a three-layer polymer coating, which accurately imitates the look and feel of natural materials such as stone, wood, brick and others, as well as being much cheaper and easier to install. The product has a number of advantages relating to its base ...
04 March 2019., 12:30   comment

Air Liquide and Severstal further strengthen their partnership with a new long-term contract

PAO Severstal and Air Liquide have signed a new long-term contract for the supply of oxygen, nitrogen and argon in Cherepovets. Air Liquide will invest around 50 million euros in the construction of a state-of-the-art Air Separation Unit (ASU) which will improve the energy efficiency and the overall environmental footprint of the Severstal production process. Air Liquide will design, construct and own a new ASU on the Severstal CherMK site in Cherepovets producing 2,000 tons of oxygen per day. ...
04 March 2019., 12:28   comment

Metalloinvest purchases new heavy-duty excavator for Lebedinsky GOK

A new heavy-duty excavator (EKG-20), with a 20 cubic metre ladle, has been launched into operation at Lebedinsky GOK (part of Metalloinvest). Modern and powerful production equipment, such as the new excavator, is regularly purchased by Metalloinvest for Lebedinsky GOK as part of its investment programme designed to modernise its mining transportation complex. Lebedinsky GOK’s mining fleet consists of three excavators, each with a 20 cubic metre ladle. Together with the plant’s BelAZ fleet, ...
04 March 2019., 12:26   comment

NLMK updates reheating furnace at its hot-rolling shop in Lipetsk

NLMK Group’s Lipetsk site, has started installation of the reheating furnace equipment in its hot-rolling shop. A new walking-beam furnace will replace a previous-generation pusher-type furnace. The new furnace will add 110 k t per year (+2%) to the hot-rolling mill's output, improve product quality thanks to a more sophisticated technology for charging slabs into the rolling mill, reduce energy consumption by 50% and cut this section's emissions by half. Investment in the project will total ...
04 March 2019., 12:24   comment

Paul Wurth blast furnace equipment – long-term solutions for EVRAZ NTMK

Luxembourg, 13 March 2019. By October 2020, EVRAZ will complete a technical upgrade of No. 6 Blast Furnace of their integrated steel works NTMK located at Nizhnij Tagil in the Urals, Russia. The modernization will concern all systems of the existing installation and enables increasing the nominal capacity by about 40% compared to the previous campaign design. With a hearth diameter of 9.8 meters and an inner volume of 2,200 cubic meters, the new furnace will be able to produce 2.5 million tons ...
13 March 2019., 15:34   comment

ExxonMobil and Primetals Technologies sign global lubrication agreement

• Partnership introduces a joint lubricants and technical services offering • Available to Primetals Technologies long rolling and Morgoil flat rolling equipment owners • Offer includes an enhanced new equipment warranty ExxonMobil and Primetals Technologies have signed a global lubricants agreement to provide lubricants and enhanced technical services exclusively to Primetals Technologies customers. The offer includes three new product families engineered specifically for the unique performance ...
03 December 2019., 09:00   comment

MMK Board of Directors Recommends Dividends For Q4 2018

PJSC Magnitogorsk Iron & Steel Works ("MMK" or "the Company”, ticker: MMK:LI) announces that on 8 February 2019 the Company’s Board of Directors recommended that the Annual General Meeting of shareholders approve a dividend of RUB 1.398 (before taxes) per share for the fourth quarter of 2018 on MMK’s issued ordinary registered shares. The dividend will represent the total of approximately USD 239 mln at the current exchange rate, which equals to 100% of the Company’s FCF for Q4 2018. As a result, ...
15 February 2019., 14:22   comment

Severstal’s Izhora Pipe Mill to supply Gazprom with over 200 thousand tons of pipes

Izhora Pipe Mill (IPM, part of PAO Severstal) has won several tenders to supply PAO Gazprom with over 200 thousand tons of large diameter pipes. The products will be used in the development of gas transmission capacities for the Unified Gas Supply System in the North-West Region (NEGP), as well as the construction of the Kovykta-Chayanda section of the Power of Siberia gas pipeline. The Company will produce and supply pipes with diameters of 720 to 1420 mm with varying wall thickness using K60 ...
15 February 2019., 14:20   comment

Moody’s upgrades NLMK Group’s long-term credit rating

International rating agency Moody’s has upgraded NLMK Group’s long-term credit rating from Baa3 to Вaа2 with a stable outlook (both are investment grade). The decision follows a rating action to upgrade Russia’s sovereign rating which took place on 8 February 2019. Shamil Kurmashov, NLMK Group CFO, said: “We welcome Moody’s decision to upgrade NLMK’s rating. This decision acknowledges the Company’s high creditworthiness and the sustainability of NLMK’s business model.” NLMK’s current credit ...
15 February 2019., 14:18   comment

MMK Group Financial Statements

Q4 2018 highlights vs Q3 2018 The decrease in revenue for Q4 2018 was due to the fall in the average sale price of finished products against a backdrop of a seasonal decrease in sales of steel products. In Q4 2018, the cost of sales grew q-o-q, mainly due to higher prices of key raw materials on the domestic market. As a result, EBITDA decreased by 20.0% on the previous quarter. EBITDA margin amounted to 27.4%. Quarterly profit amounted to USD 245 mln. One-off factors that had an impact on profit ...
02 August 2019., 16:15   comment

Q4 and 12m 2018 NLMK Group consolidated financial results under IFRS

NLMK Group (MICEX and LSE: NLMK) is pleased to announce an EBITDA growth of 35% yoy to $3.6 bn in 2018. EBITDA margin hit a decade high at 30%. Free cash flow grew by 60% to $2.0 bn. 12M 2018 key highlights Group revenue in 12M 2018 totalled $12.0 bn (+20% yoy), driven by the growth of average sales prices and higher sales volumes. EBITDA grew to $3.6 bn (+35% yoy), driven by higher revenue and operational efficiency gains in 2018. Free cash flow increased by 60% yoy to $2.0 bn, due to the increase ...
02 August 2019., 16:13   comment

Tenaris and Severstal to form joint venture to build a welded pipe plant in West Siberia

Moscow, February 5, 2019 –Tenaris S.A. (NYSE, Buenos Aires and Mexico: TS and MTA Italy: TEN) and PAO Severstal (MICEX-RTS: CHMF; LSE: SVST) announced today that they will create a joint venture to build a welded pipe plant to produce OCTG products in the Surgut area, West Siberia, Russian Federation. Severstal will have a 51% interest in the joint venture company, with Tenaris owning the remaining 49%. The commencement of the project is subject to regulatory approvals and other customary conditions. ...
02 May 2019., 13:51   comment

Fletcher Group consolidates service functions into Corporate Solutions Centre

NLMK Group, an international steel company, has sold 100% of its stake in NLMK Accounting Centre to Fletcher Group Holdings Limited for a total of 23.9 million rubles. NLMK Accounting Centre will be used as a platform for setting up a single service company, NLMK Corporate Solutions Centre, that will provide services to NLMK Group companies and Universal Cargo Logistics Holding (UCL Holding), an international transport group, including Freight One (PGK). This transaction will ensure a balance ...
02 May 2019., 11:43   comment

Severstal announces 2019 capital investment programme

PAO Severstal ("Severstal"; "the Company"), one of the world’s leading vertically integrated steel and steel-related mining companies, today announces its capital investment programme for 2019. In line with previous announcements, Severstal plans to invest approximately 95.7 billion rubles in 2019, focusing on the key areas of the Company’s updated strategy disclosed during its Capital Markets Day in November 2018 – superior client experience, cost leadership and embracing new opportunities ...
02 May 2019., 11:41   comment