Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Russia’s Pipe Metallurgical Company plans to form a joint venture (JV) with Chelyabinsk Electrometallurgical Plant (CHEMK) to produce flat stainless steel in Volzhsky in Volgograd region.


The newly formed JV will run under the name LLC Russian Stainless Company (RNK) which will be equally owned by Volzhsky Pipe Plant, a subsidiary of TMK and by CHEMK. The project is currently under development while the two companies explore optimal financing solutions.


The JV is expected to producer 500,000mt of finished flat hot-rolled and cold-rolled steel from alloyed stainless steel which are corrosion and heat resistant. 


Russia’s annual consumption is around 300,000mt of stainless steel and more than 90pc is imported. The newly launched JV will give impetus to domestic products and lower Russia’s import volumes.

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