The Ukrainian Railways public joint-stock company (Ukrzaliznytsia) has sold 18.6 tons non-ferrous scrap metal at a price seven times higher than expected.

An auction of non-ferrous scrap metal by the Southern Railway ended on June 20, the CFTS portal reports. The Stilservis limited liability company will buy 18.6 tons of scrap for UAH 1.8 million (UAH 96,100 per ton). This amount is almost seven times higher than Ukrzaliznytsia expected. The starting price was UAH 14,500 per ton.

Six enterprises participated in the auction: Ukrprommet LLC, Stilservice LLC, Vremya 2050 LLC, Arat LLC, Profilniye Systemy LLC, and Promet LLC.

As reported, Ukrzaliznytsia made a net profit of UAH 100 million in the first five months of this year. The net profit increased by UAH 1 billion compared with last year. Ukrzaliznytsia’s revenues in the first five months of 2017 increased by more than 8% while its expenditures increased by 4.5%, which led to an improvement in its financial result. According to Ukrzaliznytsia’s head Wojciech Balczun, Ukrzaliznytsia made capital investments of UAH 2.5 billion from January to May this year. The company’s loans reduced by UAH 3.2 billion.

As previously reported, the ArcelorMittal Kryvyi Rih steel plant, the Metinvest-Resurs company, and the Interpipe NTZ won three scrap auctions organized by the Production Support Center, which is a division if Ukrzaliznytsia, on June 1. According to the results of the auctions, ArcelorMittal Kryvyi Rih won an auction of 38,000 tons of large-sized scrap metal by offering UAH 193 million for a lot or UAH 5,080 per ton. The second participant of the auction was Metinvest-Resurs LLC. The starting price was UAH 191.14 million per lot or UAH 5,030 per ton.