The Russian steel producer Amurmetall has announced that it has restarted production operations at its electro-smelting shop and at its rolling mill shop.
Accordingly, Amurmetall has recommissioned both production lines at its electro-smelting shop, including the electric arc furnace (EAF) No.1 and ladle furnace No. 1, and also the EAF No.2, ladle furnace No.2 and concaster No.1. In August Amurmetall plans to produce 90,000 mt of steel at its electro-smelting shop.
Furthermore, Amurmetall has also recommissioned its rolling mill shop, from which in August it plans to output 28,000 mt of long products.
According to the company's statement, in view of the price conjuncture in the world steel market, Amurmetall is forced to concentrate efforts on the production of billets, most of which will be exported. In August, the plant's rolling mill shop is expected to produce 20 types of sections.
As SteelOrbis previously reported, on Friday, August 31, Russia's Vnesheconombank signed a preliminary agreement for the acquisition of 100 percent ownership of Amurmetall. The bank is also to open a credit facility of Ruble 5 billion (approx. $159.79 million) for the plant.
Registering monthly losses of about Ruble 180 million (approx $5.76 million) since the beginning of the year, Amurmetall was forced to idle its operations in May and filed for bankruptcy in June.