Arcelor Mittal

ArcelorMittal Temirtau puts into operation new equipment at the converter shop

The assembly of new equipment is over at the converter shop of ArcelorMittal Temirtau – a horizontal measuring manipulator.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

ArcelorMittal plans to modernize its capacities

​From Q4 2015 the fall of the global demand for steel, steel output and supply went on falling, that pressurized the market on the background of steel surplus. Thus steel prices will recover in the short-term perspective.
The continuation of the worsening of the situation with the demand and offer in the steel market forces the largest steel producer in the world ArcelorMittal to take measures on reacting to the market challenge. The company will shut down its loss making production capacities so as to cut the expenditure and save money.
Moreover, the company plans to modernize its production capacities so as to provide its customers with products of higher quality and for further increase of competitiveness of its products.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

ArcelorMittal reduced loss

​In Q1 2016 ArcelorMittal reduced its net loss by 42.9% to $416 mln against Q1 2015, by 16 times against Q4 2015.
The basic loss without non-monetary items made up $176 mln in Q1 2016 against $375 mln of loss in Q4 2015.
Quarterly sale made up $13.399 bln, by 21.7% less in annual terms and by 4.2% less against Q4 2015. EBITDA fell by 32.7% y-o-y and by 15.9% q-o-q to $0.927 bln that reflects the postponed effect of low steel prices, partially covered by higher shipment of metal products.
In Q1 2016 the operational profit of ArcelorMittal fell in annual terms by 2.1 times to $275 mln while in Q4 2015 the operational loss made up $5.331 bln.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

ArcelorMittal Krivoi Rog reequips bar-rolling mill

“ArcelorMittal Krivoi Rog” has held capital repair of the reheating furnace of the mill MC 250-3 at the long product rolling mill No1. An updated furnace will enable correct heating of steel feed and have positive influence on the efficiency of operation of the complex, the press-service of the enterprise states.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Bar-rolling mill is suspended for 2 weeks, “ArcelorMittal Temirtau”

Iron-and-Steel works “ArcelorMittal Temirtau” has suspended the bar-rolling mill for capital repair. It will last 15 days. Within this period the enterprise plans to fulfill large volume of operation both at the bar-rolling mill and reheating furnace.
“Main job includes the repair of the furnace hearth and its cooling system. There will be replaced the channels of the furnace and the ones for scale flushing under the rolling mill.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Net profit of ArcelorMittal Krivoi Rog made up $55 mln in 2015

​In 2015 the net profit of ArcelorMittal Krivoi Rog made up 1 bln 380 mln grivnas.
In 2014 Krivorozhsteel made up 1 bln 180 mln grivnas of net loss.
The net profit of ArcelorMittal Krivoi Rog from the sale of products in 2015 grew from 36 bln 740 mln to 46 bln 260 mln grivnas. The amount of capital investment doubled to 5.17 bln grivnas.
According to the CEO, P. Kalon, 2015 became extremely complicated for the mining and metallurgical sectors. The prices for metal products fell by more than 50%, for iron ore – by 3 times, and the devaluation of the Russian rouble worsened the situation.
Until 2020 the head company will additionally direct $1.2 bln for the realization of a large-scale investment program of ArcelorMittal Krivoi Rog which unites all key directions of activity.
Many investment projects will be continued in 2016.
In 2015 ArcelorMittal Krivoi Rog reduced the output of finished rolled products by 5% to 5.28 mln tons. Steel making fell by 3.8% to 6.06 mln tons, cast iron- by 0.6% to 5.51 mln tons in 2015.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

ArcelorMittal has announced of additional issue for $3 bln

ArcelorMittal has announced of the conditions of subscription for the additional issue of shares for the total amount of $3 bln.
The company’s shareholders have the priority right to purchase the shares at 2.2 euro (with a 35% discount to the listing on the Euronext stock exchange in Amsterdam as of March 10th).
The Mittals state of the readiness to use the right for the purchase of new shares proportionally to their 37.38% stake in the company.
ArcelorMittal and the Mittals have also agreed with underwriters on a 180-day lock-up after the purchase-and-sale of shares.
The subscription for the new shares expires on March 14th 2016 at the completion of trades on NY stock exchange and other markets. The buyers of security papers can use their right until March 29-30th 2016.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

In February, ArcelorMittal Krivoy Rog became the largest recipient of VAT refund in the industry

In February 2016, the largest recipient of VAT refund among enterprises of the mining and metallurgical complex of the Ukraine became metallurgical plant ArcelorMittal Krivoy Rog, which received 1.188 billion hryvnias.
According to the State Treasury, Dneprovsky Dzerzhinsky metallurgical complex is at the second place with 611 million hryvnias, and Zaporozhstal is at the third place with 350.8 million hryvnias.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

ArcelorMittal Temirtau is about to increase the mill-1700 productivity and reduce prime cost

Iron-and-Steel works “ArcelorMittal Temirtau” will continue the modernization of equipment at sheet rolling shop №1 (rolling mill-1). The company's plans for 2016 includes repair of mill stands No 6, 7, 9 and 10 of the hot rolling mill-1700, the press service of the steelmaker reports.
“The project will raise the productivity of the mill and reduce emergency downtime and getting stuck in finishing trains and increase the rolling speed,” is said in a statement.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Severstal leaves ArcelorMittal behind

While steel companies all over the world suffer from record high increase of Chinese export of steel and slowdown in global economy, Russian companies succeed due to the devaluated rouble, Bloomberg writes.
“Russian companies pay salary and bear expenses in rouble, but receive dollars and Euros from an export of products,” the edition writes.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
42a Pushkina Street; Ufa, Bashkortostan 450076; Russia
E 54° 43.48836" N 55° 55.52346"
Telephone: +7 927 303 00 25

Theme by Danetsoft and Danang Probo Sayekti inspired by Maksimer