Transcript Polish Steel Industry Report

Russian Steel Industry Review
August 2008
Metals Consulting International Limited
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RUSSIAN STEEL INDUSTRY
AGENDA
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Steel demand volume
Flat product demand
Flat product supply
Oligarch involvement
More CIS steel information
Opportunities …
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STEEL DEMAND VOLUME
• Russian steel market in
2007 amounted to
~39.9mt demand
• Flat : long : tube mix
was 48:29:23
Russian steel consumption 2007
Product
000s t
Flat
19145
Long
11690
Tube
9085
Total
39920
Source: MCI assessments.
Figures are for finished steel.
• Russian crude steel
production was ~72mt
[around 5.4% of world
output]
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FLAT PRODUCT DEMAND†
2007 data
Production
000's t
25416
Product
000's t
Plate
3063
Import
3507
Hot rolled
8615
Export
9778
Cold rolled
4212
19145
Galvanised
2106
Demand
Figures are Russian finished
steel demand estimates for
2007. Source: MCI assessments.
Tin
383
Other coated
766
Total
19145
Source: MCI assessments.
†: For corresponding Russian or other CIS steel long product figures, please contact MCI.
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FLAT PRODUCT SUPPLY
Supplier
Plate
HRC
CR/Coated
Total
MMK
1200
5189
2969
9358
Severstal
1000
4474
2707
8181
0
1549
3069
4618
Urals Steel
937
0
0
937
Asha
500
0
200
700
Others
869
821
-68
1622
4506
12033
8877
25416
NLMK
Total
Source: MCI estimates. NLMK data exclude semis for sale, and their cold rolled
steel production figures include electrical steel. Plate is >10mm gauge. Figures are
for 2007 net Russian supply only [i.e. with downstream production stripped out].
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OLIGARCH INVOLVEMENT (1)
First
name
Surname
Company
Principal steel industry / related assets
Alexander
Abramov
EvrazHolding
NTMK, Zapsib, NKMK, Palini e Bertoli, Vitkovice Steel, Oregon Steel,
Claymont Steel, Dneprovsk I&S, Ipsco Canada. Stakes in Evrazruda,
Kachkanarsky (KGOK) and Vysokogorsky (VGOK) ore mines and in
Dniprkoks; Raspadskaya, Yuzhkuzbassugol and Mezhdurechenskaya
coal and in Highveld Steel & Vanadium in South Africa
Rinat
Akhmetov
System Capital
Management
Azovstal, Yenakiyevski I&S, Khartsyzk T&P, Zaporizhkoks,
Donetskkoks, Italy's Ferriera Valsider; Severny GOK and CGOK ore
mines. SCM also acquired the Smart Group (see below) end-2007
Vladimir
Lisin
Novolipetsk
DanSteel, VIZ-Stal, Stoilensky GOK iron ore mine, Altai Koks
Iskander
Makhmudov
UGMK
Serov Iron & Steel Works; stake in Kuzbassrazrezugol coal mine;
Bogoslovsk Iron Ore Mine; JSC Metmash bearings / wheel plant;
historic involvement with Trans-World Group
Alexei
Mordashov
Severstal
Dzerzhynsky Electric Steel Works, Izhorsk, Orlovsky Rolling Mill,
Rouge Industries, Lucchini, Sparrows Point, Vorkutaugol,
Vorgashorskaya Coal Mine, Kuzbassugol, Olkon Iron Ore, Karelskiy
Okatysh, Vtorchermet
Dmitriy
Pumpyanskiy
TMK
Tagmet, Seversky, Sinarsky, Volzhsky pipe plants
Viktor
Rashnikov
Magnitogorsk
Iron & Steel
Cold rolling joint venture with Atakas in Turkey; stake in Fortescue
Metals Group; Kazankovskaya coal mine; Bakal Ore, Belon Coal
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OLIGARCH INVOLVEMENT (2)
First
name
Surname
Company
Principal steel industry / related assets
Anatoly
Sedykh
UMC [OMK]
Vyksa Steel Works, Chusovoy, Almetyevsk Steel Works, Trubodetal,
Shchelkovo Metallurgical Works, Troitckaya coal mine, Gubakha Coke
Andrei
Skotch
Metalloinvest
30% ownership stake with Usmanov (50%) and Anisimov (20%)
Alisher
Usmanov
Metalloinvest /
Gazmetal
Oskol, Urals Steel (formerly Nosta); Ribnita Steel Works in Moldova;
Lebedinsk & Mikhailovsky ore mines, UralMetCom, Hamriyah Steel
Vadim
Varshavsky
Mirinvest
Russky Ugol (Russian Coal), Estar Holding, Istil (acquired Jan 2008)
Sergey
Veremeenko
Estar Holding
Zlatoust Metallurgical Works, Novosibirsk Metallurgical Works, Engels
Pipe, Gurievsky Metallurgical Plant, Rostovsky Electric Metallurgical
Plant, Nytva Metallurgical Plant, Volgograd Small Diameter Pipe Works
Vladimir
Yorikh
Mechel
Former large shareholder of Mechel [together with Igor Zyuzin]
Boris
Zubitski
KOKS Group
Industrial Metallurgical Holding, Tulachermet, Uchastok Koksovy coal
mine, Berezovskaya coal enrichment plant, Kruglogorsky ore mine
Igor
Zyuzin
Mechel
Beloretsky Steel, Vyartsilya Steel, Bratskiy Ferroalloy Works, Izhstal;
Southern Kuzbass and Razrez Tomusinsky / Olzherassky /
Krasnogorsky Coal; Yakutugol and Elgaugol coal mines
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MORE CIS STEEL INFORMATION
• MCI website http://www.steelonthenet.com runs a
free CIS news page at
http://www.steelonthenet.com/feeds/russia.php
• We also publish a monthly report called ‘Memo from
Moscow’ which covers topical CIS steel industry
issues. This can be accessed free at
http://www.steelonthenet.com/moscow.html
• Our representative in Moscow is also available for iron
and steel sector research support†
†: A daily fee rate applies - please contact MCI.
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OPPORTUNITIES …
• Can MCI help you develop your presence in the Russian
steel sector, or elsewhere in the CIS steel industry?
• Can we help you with a steel feasibility study?
• Or perhaps assist you with a due diligence appraisal?
• If so please call us for a no obligation discussion …
Please contact: Andrzej Kotas, Managing Director, MCI
Website: http://www.steelonthenet.com
Email: [email protected]
Mobile: +44 (0) 775 149 0885
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