Beursonline.nl

voda 5 juli 2018 17:16

0

Ukraine launches anti-dumping investigations into certain steel products

Lexology reported that on 4 July 2018, the Interdepartmental Commission on International Trade (the ICIT) announced the initiation of two anti-dumping investigations into imports of (i) certain steel products and (ii) cement. The products being looked at by the investigations include carbon and certain alloy steel wire rods originating from Belarus and Moldova, and cement originating from Russia, Belarus and Moldova.

Both investigations are the latest in a series of Ukraine's probes into and measures against Russian and Belarus exports, but this is the first time when Ukraine called products from Moldova into question.

The investigations should be concluded by 4 July next year (in special circumstances can be extended until 4 January 2020), but may affect imports already starting from the beginning of September, 2018 when provisional anti-dumping duties can be introduced.

The ICIT will look into industries damages from January 2013 until September 2017 (for carbon and alloy steel wire rods) and from January 2015 until December 2017 (for cement), and where it finds that dumped imports caused injury to the domestic industries, may impose definitive anti-dumping duties on those for the next five years.

Interested parties can participate in the investigations only subject to their registration by the Ministry of Economic Development and Trade of Ukraine, the deadline for registration is 3 August 2018.

Source : Lexology

voda 5 juli 2018 19:10

0

Ferrexpo Q2 total iron ore pellet production drops

Ferrexpo said total pellet production fell modestly in the second quarter of the year weighed down by a scheduled refurbishment to the pellet line. The company total pellet production for the second quarter of 2018 fell 2.9% to 2.51 million tonnes from 2.59m tonnes the same period a year ago. For the first half of the year pellet production was 5.10 million tonnes, down 1.2% from 5.16 million tonnes the same period a year ago.

The company blamed the fall in pellet production on a planned 65 day pellet line refurbishment.

Source : Strategic Research Institute

voda 6 juli 2018 16:30

0

Brussel neemt extra maatregelen tegen staalimport

(ABM FN-Dow Jones) De Europese Unie heeft ingestemd met voorlopige maatregelen om de import van staal aan banden te leggen.

Dit is volgens Brussel nodig vanwege de toestroom aan staal nadat de Verenigde Staten zware importheffingen instelden. Landen die eerder hun staal naar de VS exporteerden zoeken vanwege deze heffingen nu nieuwe afzetmarkten.

De voorlopige maatregelen worden vermoedelijk medio juli ingevoerd. Het onderzoek naar de kwestie loopt hoogstwaarschijnlijk tot eind 2018.

De extra heffingen worden overigens pas van kracht als de import het normale niveau overstijgt.

De exacte data en reikwijdte worden pas bekend nadat de commissie alle maatregelen heeft goedgekeurd.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved

voda 6 juli 2018 16:41

0

Ook Rusland voert heffingen tegen VS in

Gepubliceerd op 6 jul 2018 om 14:53 | Views: 1.229

MOSKOU (AFN/RTR/BLOOMBERG) - Ook de Russen mengen zich in de handelsoorlog. Rusland heeft een reeks importheffingen op Amerikaanse producten afgekondigd. Het gaat om een vergelding op de Amerikaanse importheffingen op aluminium en staal, zei minister van Economische Zaken Maxim Oresjkin.

De importtarieven liggen tussen de 25 en 40 procent en gelden voor benodigdheden voor de olie- en gasindustrie, metaalindustrie en glasvezelbedrijven uit de VS. De Russische regering wil geïmporteerde producten vervangen door alternatieven van binnenlandse makelij, aldus Oresjkin.

Volgens Oresjkin zijn de tegenmaatregelen gematigd. De heffingen zouden Rusland zo'n 88 miljoen dollar opleveren, terwijl de economische schade van de Amerikaanse metaalheffingen op meer dan een half miljard dollar wordt beraamd. Rusland beraadt zich nog op verdere heffingen.

Grootste handelspartner

Rusland importeert jaarlijks voor 12,5 miljard dollar uit de Verenigde Staten. Daarmee is Rusland de op vijf na grootste handelspartner van de VS, stelde het ministerie van Economische zaken.

De aankondiging volgt op een escalatie van het handelsconflict tussen de VS en China. De Amerikanen voerden vrijdag heffingen op Chinese producten met een totale waarde van 34 miljard dollar in, waarna Peking met gelijke munt terugsloeg.

voda 6 juli 2018 16:58

0

thyssenkrupp CEO Dr Heinrich Hiesinger hangs his boots

Dr Heinrich Hiesinger, CEO thyssenkrupp AG, has asked the Executive and the Personnel Committee of the Supervisory Board of the thyssenkrupp AG for talks to find a mutual agreement for stepping down from his position as CEO of the thyssenkrupp AG. Dr Heinrich Hiesinger said “I informed the Supervisory Board that I would like to step down from my position as CEO of thyssenkrupp. I take this step very consciously to enable a fundamental discussion in the Supervisory Board on the future of thyssenkrupp. A joint understanding of Board and Supervisory Board on the strategic direction of a company is a key pre-requisite for successfully leading a company. The broad support of our shareholders and the Supervisory Board was the basis for the success of our Strategic Way Forward since 2011. This path always balanced the interests of our customers, employees and shareholders. Today thyssenkrupp is a completely different company regarding culture, values and performance. The joint venture of our steel activities with Tata is the next significant step to turn thyssenkrupp into a strong industrial company. We can be proud of what we achieved until now. For this I would like to thank all employees. They are the most valuable capital of thyssenkrupp.”

Prof Dr Ulrich Lehner said “The Board under the leadership of Heinrich Hiesinger has freed thyssenkrupp from an existential crisis and made the company ready for the future by implementing the strategy which was agreed by the Supervisory Board. Without Heinrich Hiesinger there would be no thyssenkrupp today. I am deeply grateful for what he achieved and especially for how he achieved this: intelligent, modest, consistent; with far-sightedness and social responsibility and always in the interest of our customers, employees and shareholders.”

The Supervisory Board will meet today to discuss and decide on the request of Dr Heinrich Hiesinger.

Source : Strategic Research Institute

voda 6 juli 2018 16:59

0

NCLAT disagrees with ArcelorMittal plea for disqualification of NuMetal bid for Essar Steel - Report

PTI reported that locked in a direct fight to acquire Essar Steel, ArcelorMittal sought disqualification of Russia's VTB Capital-backed NuMetal Ltd, alleging that the firm was acting in concert with delinquent promoters of Essar group but the NCLAT hearing the case did not agree to its contention. The NCLAT bench posed several probing questions, including whether a company can be considered to be an alter-ego of its shareholder - especially when such minority shareholder is neither in management or control of the company (NuMetal). It observed that question of disqualification of NuMetal on the ground that one of its minority shareholders is related to promoters of Essar requires substantiation based on law. The NCLAT also observed that allegations of NuMetal acting in concert with the promoters of ESIL cannot be based on general analysis and needs be substantiated with legal grounds in accordance with law.

At a hearing before a two-member bench of the National Company Law Appellate Tribunal (NCLAT), senior lawyer Abhishek Manu Singhvi, appearing for ArcelorMittal, said "NuMetal and Rewant Ruia are alter ego of each other. They both are the same. Two are acting in concert with each other.”

Arguments before the NCLAT today remained inconclusive and hearing would resume on July 9.

Source : PTI

voda 6 juli 2018 17:00

0

Liberty House resolution plans for Adhunik Metaliks and Zion Steel get CoC nod

Indian Express reported that the committee of creditors (CoC) of Adhunik Metaliks approved UK-based Liberty House’s resolution plan for the insolvent company Thursday, the last day of the extended timeline for the corporate insolvency resolution process (CIRP) for the steelmaker. Adhunik Metaliks (AML) said “The committee of creditors at the meeting held approved the resolution plan submitted by the Liberty House Group Pte with a majority of 99.94%.”

There were only two resolution applicants for the debt-laden steel manufacturing company Liberty House and Maharashtra Seamless of the DP Jindal Group. Liberty House was already identified as the highest bidder (H1) by the creditors, while the plan of Maharashtra Seamless was rejected as it was offering less value than the liquidation value of the company, the flagship of the Adhunik Group.

On Thursday, the Sanjeev Gupta-led metals and industrial group’s resolution plan for Zion Steel, another Adhunik Group company, also got approval from the creditors. The CoC had met on Monday and also on Wednesday to consider approving the resolution plan submitted by Liberty House. However, those meetings were inconclusive. Now, after the approval of the resolution plans for both AML and Zion Steel, resolution professional Sumit Binani will put up the plans to the Kolkata bench of the National Company Law Tribunal (NCLT) for its approval and passing necessary orders in this matter.

Sources said that according to the resolution plans, Liberty House would infuse over INR 600 crore into AML and Zion Steel. Notably, for AML, standalone debt had stood around INR 2,500 crore.

Lenders to AML are State Bank of India, Punjab National Bank, ICICI Bank, IFCI, Punjab & Sind Bank, UCO Bank, Allahabad Bank, Bank of Baroda, Corporation Bank and SREI Infrastructure Finance, among others.

Source : Indian Express

voda 6 juli 2018 17:01

0

Trump Trade War - EC to impose counter measures soon

Bloomberg reported that the European Union is poised to cap its imports of steel in the latest evidence of the domino effect caused by US President Donald Trump’s protectionism. The EU said it would impose curbs on foreign steel in mid-July to prevent the European market from being flooded by shipments diverted away from the US as a result of its 25 percent steel tariff. The European Commission, after winning the support of EU governments for the import limits, said “The most recent import statistics show trade diversion of steel products into the EU as a result of the additional 25 percent tariff on steel imposed by the US.”

EC said “The provisional trade limits will cover historical EU import volumes on some or all of these products from around the world and involve extra duties on any shipments in excess of those amounts. Additional duties will be levied only after a tariff-rate quota, based on the level of traditional imports, is reached. This is intended to prevent the negative effects of trade diversion, but at the same time maintain traditional supply and effective competition on the EU market.”

The provisional restrictions must still be formally approved by the commission and will take effect after being published in the EU’s Official Journal around the middle of July. The safeguard investigation is due to continue until late December, with the possibility of a two- month prolongation.

The planned curbs mark the preliminary outcome of a safeguard investigation that the commission opened in late March. The probe covers 28 types of steel ranging from stainless hot-rolled and cold-rolled sheets to rebars and railway material. Together, the products account for around 40% or EUR 22 billion of the EU’s annual iron and steel imports.

The move marks a victory for the European steel industry, which has pressed for import restrictions to counter the risk of a slump in domestic prices, over EU carmakers, which as users of the metal have argued against trade barriers.

Source : Bloomberg

voda 6 juli 2018 17:01

0

PIF may inject funds in ArcelorMittal Tubular Products Jubail

Arabian Business, citing people familiar with the matter, reported that Saudi Arabia’s Public Investment Fund is considering a plan to inject up to USD 300 million into a troubled steel pipe factory co owned by ArcelorMittal. As per report, the Public Investment Fund is looking at doubling its stake in ArcelorMittal Tubular Products Jubail to 40% by buying new shares and converting debt to equity. The final terms of the deal have not been agreed and the plans could change

The PIF wants to use the ArcelorMittal plant to build Saudi Arabia’s position as a supplier of pipes for the energy sector as part of its plans to support non-oil industries, it said in a strategy document published last year.

ArcelorMittal established the plant in 2007 as a joint venture with the Al-Tanmiah Company, a unit of the Bin Jarallah Group. At the time, it said the plant would become the biggest supplier of steel pipes to the upstream oil and gas industry in the Middle East, producing over 600,000 tonnes of pipe a year and employing over 600 people. However, the financial crisis, the Great Recession and the oil price collapse at the end of 2014 have all weighed heavily on the project, and ArcelorMittal admitted in its annual reports for both of the last two years that “Al Jubail’s financial situation has been negatively impacted by a slower than expected ramp-up of operations.”

In 2016, ArcelorMittal wrote the value of its equity investment down to zero. It continues to hold a stake of 40.8 percent in the venture. ArcelorMittal has also partially written down additional investments made in the form of shareholder loans to the joint venture. At least some of those loans are due for repayment this year, according to ArcelorMittal’s financial statements.

Source : Arabian Business

voda 6 juli 2018 17:02

0

Fives cold rolling mills chosen by Fuxin Special Steel and Wisdri (Xinyu) Cold Processing

On 30 June 2018, Fives was contracted for a number of cold rolling mills for stainless and silicon steel grades to be designed and supplied to China. Fuxin Special Steel Co Ltd, Taiwan entrusted Fives with the contract for coil preparation lines and cold rolling mills for stainless steel production in the Fujian province of China. Fuxin Special Steel has decided to expand the cold rolling workshop to produce added value final products. The company chose Fives to design, manufacture, supply and commission two coil preparation lines (CPL) and three DMS 20Hi cold rolling mills (CRM), each with 110,000 tons per year capacity.

The two CPL aim to make the most of the rolling mills and optimize productivity by removing hot strip tail ends, trimming crack formations and applying leader strips. The cold rolling mills are essential to reduce strip thickness while guaranteeing strip surface quality. Fives will supply the newest generation of DMS 20Hi CRM with the latest improvements: advanced roll gap lubrication and strip cooling technology, an improved flatness control system, enhanced safety, and easier maintenance. Strip surface quality is improved thanks to the optimized lubrication of roll bite.

Separately, Wisdri (Xinyu) Cold Processing Engineering Co Ltd, China, a joint venture between WISDRI and Xinyu Iron & Steel, ordered Fives to design and supply a unique cold rolling mill to process non-grain oriented (NGO) silicon steel, mainly dedicated to the automotive industry. Electrical steel is a special steel tailored to produce specific magnetic properties, resulting in low power loss per cycle, low core loss, and high permeability. It is extremely sensitive to produce.

For this project, Fives will design, manufacture and supply a DMS 20Hi cold rolling mill with an annual capacity of 100,000 tons to process NGO high grade 210. The mill is intended for a very demanding application: electric car motors that require extremely high quality. The lead time for the project is also very short: the first coil is to be processed by the end of 2019.

The coil preparation lines, as well as CRM auxiliary equipment, will be fabricated in China by Fives’ subsidiary in Shanghai, while the critical parts of the cold rolling mills will be designed and manufactured in the Fives workshop in Lille, France.

Source : Strategic Research Institute

voda 6 juli 2018 17:03

0

Trump Trade War - To become reality as US tariffs on China take effect

Channel News Asia reported that Trump administration's tariffs on USD 34 billion of Chinese imports came into effect at 12.01am US Eastern Time on Friday. Chinese government warned on Thursday that Beijing will respond the instant US measures go into effect as the two locked horns in a bitter trade war. Chinese Commerce Ministry spokesman Gao Feng warned the proposed US tariffs would hit international supply chains, including foreign companies in the world's second-largest economy. He said "If the US implements tariffs, they will actually be adding tariffs on companies from all countries, including Chinese and US companies. US measures are essentially attacking global supply and value chains. To put it simply, the US is opening fire on the entire world, including itself. China will not bow down in the face of threats and blackmail and will not falter from its determination to defend free trade and the multilateral system.”

Asked whether US companies will be targeted with qualitative measures in China in a trade war, Gao said the government will protect the legal rights of all foreign companies in the country. He said "We will continue to assess the potential impact of the US-initiated trade war on companies and will help companies mitigate possible shocks."

Gao said China's foreign trade is expected to continue on a stable path in the second half, though investors fear a full-blown Sino-US trade dispute will deal a body blow to Chinese exports and its economy.

He emphasised that US tariffs on Chinese exports will hurt both Chinese and foreign firms.

US President Donald Trump has threatened to escalate the trade conflict with tariffs on as much as a total of USD 450 billion in Chinese goods if Beijing retaliates, with the row roiling financial markets including stocks, currencies and global trade of commodities from soy beans to coal.

Source : Channel News Asia

voda 6 juli 2018 17:04

0

Turkish steel exports in H1 up by 22% YoY

Daily Sabah reported that Turkey, one of the world's largest steel exporters, increased its total exports by 34 percent in June due to a strong performance in other markets. According to Turkey Exporters' Assembly (T?M) data, exports of steel products surged by 34% in June this year to USD 1.2 billion and by 22% in the January-June period to USD 7.1 billion compared to the same period last year. While the highest steel exports were made to Italy and Spain in the first half of the year, the United States, which ranked first last year, tumbled to third place. Exports to the European Union and the Middle East, the traditional markets of the sector, continued to increase significantly.

Following the new customs duty decision issued by the US President Donald Trump to protect domestic industry, steel product exports to the country were down 30 percent to USD 71.5 million in June and down 42% to USD 421 million in the first six months of the year.

According to the Turkish Statistical Institute (TurkStat) data, Turkey exported approximately USD 13.8 billion in steel and steel goods last year, while USD 1.2 billion, about 9% of exports, were made to the US.

Source : Daily Sabah

voda 6 juli 2018 17:05

0

Interpipe invests USD 8 million into the pipe finishing line at Niko Tube in Nikopol

Interpipe, a global steel pipe and railway wheel company, started the pilot operation of a new line for pipe finishing at Interpipe Niko Tube in Nikopol (the Dnipropetrovsk region, Ukraine). The company invested approximately $ 8 million into the line construction. This additional capacity will allow the company to boost the production of line pipe for export markets and to improve the product quality. The new line will perform a number of pipe finishing operations before loading, including degreasing, stamping, marking, and lacquer application.

The existing line uses water-based lacquers to coat the pipe body. The coat application equipment operates at a speed lower than the speed of other elements of the production chain. In addition, water-based lacquers have lower corrosion resistance indicators.

The installed finishing line will be operated under another technology, including the application of ultraviolet lacquers. This will allow increase the productivity and extend the life of the anticorrosive coating up to 12 months.

The assembly of the line equipment has been already completed. The company launched the pilot operation of the line, when the production employees work out the coating application technology and select application modes depending on the pipe dimensions. After reaching the designed capacity, the line will be able to finish up to 93 thousand tons of pipes per year.

To apply the anticorrosion coats, the new TubeMax UV200 machine (manufactured by the German INTEC company) uses special paint and lacquer materials, which harden under the ultraviolet radiation. The lacquer on products from this line solidifies within just 1 second, while the previous equipment needed up to 15 minutes for that.

“Construction of the new line is the next company’s step in re-focusing its production and sales to international markets. We have already shipped the first order made with the use of the new equipment”, Denis Morozov, Interpipe CFO, has commented.

Source : Strategic Research Institute

voda 6 juli 2018 17:06

0

Vietnamese steel sector facing growing protectionism - VSA

VNA reported that Chairman of Vietnam Steel Association (VSA) Ho Nghia Dung said that improving competitive capacity to expand export markets and understanding of international trade regulations are significant for Vietnamese steel firms to respond to trade defence lawsuits in the context of growing protectionism. Chairman Dung said that tariff barriers hamper the export of Vietnamese steel as steel products become less competitive in foreign markets. He said “In 2016, Vietnam shipped over 900,000 tonnes of steel to the US; however, the amount fell to 500,000 tonnes in 2017. Actually, exports are affected not only after taxes are levied but also when initiation of anti-dumping duty investigation is launched.”

Vietnamese steel industry has faced rough seas recently when it has to deal with anti-dumping and anti-subsidy measures from such countries as the US, Canada, Malaysia, Thailand and Indonesia. Statistics from the VSA showed that local steel products were the target of 30 anti-dumping lawsuits among 124 trade remedy lawsuits against Vietnamese exports in 2017.

Most recently, the Indonesian Anti-Dumping Committee announced the application of anti-dumping measures on colour-coated steel sheet imports from Vietnam, with tariffs ranging from 12.01 percent to 28.49 percent on the products for five years.

In June, some US steel producers lodged a request to the Department of Commerce (DOC) to ask for investigations into and application of measures to prevent the evasion of anti-dumping and anti-subsidy tax against corrosion-resistant carbon steel imported from Vietnam.

Source : VNA

voda 6 juli 2018 17:08

0

Vietnam announces anti-dumping duties on imports of stainless steel

Viet Nam News reported that Vietnam’s Ministry of Industry and Trade on July 4 released anti-dumping duties on imported cold-rolled stainless steel products after its second review for application of the duties. According to its Decision 2398/Q?-BCT, the products of this review had codes of 7219.32.00; 7219.33.00; 7219.34.00; 7219.35.00; 7219.90.00; 7220.20.10; 7220.20.90; 7220.90.10; and 7220.90.90, imported to Vi?t Nam from mainland China, Malaysia, Indonesia and Taiwan.

The new anti-dumping duties would be unchanged against the rates in the previous review and be applicable from July 20, 2018 to October 10, 2019.

Of which, the tax rate for manufacturers from mainland China is still 25.35 per cent while the Shanxi Taigang Stainless Steel Co, Ltd (STSS) enjoys a rate of 17.47 per cent.

The tax rate for manufacturers from Indonesia remains unchanged at 13.03 per cent but it is reduced to 6.64 per cent for PT Jindal Stainless Indonesia.

Manufacturers from Malaysia will continue to face a rate of 9.31 per cent.

Meanwhile, manufacturers from Taiwan continue to bear the same duty of 13.79 per cent but it increases to 37.29 per cent for Own Yuan Long Stainless Steel Corp.

At the same time, the ministry also said it will exclude the application of anti-dumping measures for some stainless steel products that are not yet produced domestically or not reach technical standards.

Source : Viet Nam News

voda 6 juli 2018 19:12

0

Second phase of Bangladesh ship recycling project begins - IMO

The second phase of an IMO-implemented project to enhance safe and environmentally sound ship recycling in Bangladesh has been launched with the first Project Executive Committee meeting in Dhaka, Bangladesh (2 July). IMO says the SENSREC Project Phase II - Capacity Building, funded under a USD 1.1 million agreement with Norway, will focus on legal and institutional analysis of ship recycling in the country and will develop a roadmap for the Government of Bangladesh to accede to the 2009 Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships (HongKong Convention). The two-year project will also provide training for workers in ship recycling yards, supervisors and government officials.

The project is being executed and implemented by IMO, in partnership with the Ministry of Industries of the Government of Bangladesh. The Executive Committee (the decision-making body of the project) was co-chaired by Mr. Md Enamul Hoque, Additional Secretary, Ministry of Industries of Bangladesh and IMO’s Jose Matheickal. In January this year, the Parliament of Bangladesh approved its Ship Recycling Bill, which includes a timeframe for accession to the Hong Kong Convention by Bangladesh within five years.

Source : Strategic Research Institute

voda 6 juli 2018 19:13

0

Demolition activity falls as tonnage supply dwindles - Clarkson Platou Hellas

Activity in the ships’ demolition market has been slowing down over the course of the past few days. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “as the Eid holidays finally came to an end, there appears to have been a slowdown in activity last week due to a lesser supply of tonnage and also, a weakening of the respective currencies in the Indian subcontinent destinations. In Pakistan, the recyclers are starting to factor in the cost of the sales tax duty, coming into effect this week, for any new available tonnage and thus, this will restrict any potential improvement in rates for the foreseeable future”.

According to Clarkson, “Bangladesh and India have both suffered a weakening of their currencies against the U.S. Dollar this week which may also stem some positive offering from the waterfront. But all in all, we are still witnessing a somewhat stable and relatively calm market. Meantime, a fresh argument has reportedly broken out over the European ship recycling regulation, due to come into force at the end of this year. European Ship Owners stress, rightly, that there is insufficient capacity on the European list of approved yards and strongly believe some of the Indian yards are brought into the equation. The usual counter arguments from the lobbyists is that this is not true and there is sufficient capacity”.

The shipbroker added that “the European Ship Recycling regulation was established in 2013 calling for a list of approved facilities to be drawn up and for ships under European flags to then only be recycled at one of these approved facilities. The regulation also calls for all vessels calling at E.U. ports to have an approved and valid Inventory of Hazardous Materials (IHM) kept on board the vessel. This latest disagreement is because the current list of approved recycling yards consists of only 21 facilities, simply not sufficient enough for the demands of recycling vessels during the year (especially now that China has announced no further importing of international flagged vessels for recycling). All the facilities on the list are in Europe and no Indian subcontinent yards are being considered due to the word ‘beaching’. Yet, the improvements made to the Indian yards in particular, have been immense over recent years and on par with their counterparts in Europe. Unfortunately, these environmental organisations will not accept a vessel having to be beached despite major improvements towards labour and the environment in the recycling destination of India and the PHP yard in Bangladesh. The E.U. commission are working towards incorporating some of the better yards in India on their list with certain inspections/visits having been arranged, but it does not help their plight with consistent negative reporting from the various lobby groups. The E.U. are being urged to rapidly include non-European facilities onto the list, in particular, the Indian recycling yards that have been approved under the H.K. Convention. It is hoped that common sense will prevail and those yards that have upgraded their facilities will be rewarded with E.U. approvals. Interesting times indeed lie ahead in this respect so we at the moment, can only ‘watch this space!’, Clarkson Platou Hellas concluded.

Meanwhile, in a separate note, GMS, the world’s leading cash buyer of ships said that “with the summer / monsoon season fully under way across the Indian sub-continent, prices and demand have started to decline across the board for various reasons. While on the one hand, the seasonal labor returning to their home towns due to the constant rains affecting the cutting processes and hampering overall production is the traditional reason for the cooling markets, on the other hand, declining local steel plate prices, currencies and missing cutting permissions have driven demand for tonnage, down this week. As such, most end Buyers are preferring to temper their purchases as levels and interest slips in anticipation of a potential fourth quarter rally, which has historically been a busy period in the ship recycling industry and this year is expected to be no different, given that owners (particularly in the tanker sector) continue to struggle with dire charter rates and (wet) units seem to fall out of the sky. A sustained level of scrapping of tanker and offshore fleets will be needed just to aid levels and bring a certain equilibrium back to these sectors in the years ahead – just as dry and container rates have finally bounced back, following a period of sustained recycling in the years gone by. Supply is expected to persist going forward and sales will continue to take place, often to speculative Cash Buyers who do not have end Buyers lined up but prefer to utilize their available finance streams. As such, as long as the inflow remains at a steady trickle rather than a deluge, prices should remain relatively stable as the markets sail through the monsoons”, GMS commented in its weekly analysis.

Source : Nikos Roussanoglou, Hellenic Shipping News Worldwide

voda 6 juli 2018 19:57

0

US steel import permit applications in June dip by 3.7% - AISI

Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, the American Iron and Steel Institute (AISI) reported that steel import permit applications for the month of June totaled 2,894,000 net tons (NT). This was a 3.7% decrease from the 3,005,000 permit tons recorded in May and a 0.3% increase from the May preliminary imports total of 2,887,000 NT. Import permit tonnage for finished steel in June was 1,946,000, down 19.5% from the preliminary imports total of 2,418,000 in May. For the first six months of 2018 (including June SIMA permits and May preliminary data), total and finished steel imports were 18,236,000 NT and 14,078,000 NT, down 7.4% and 6.6%, respectively, from the same period in 2017. The estimated finished steel import market share in June was 22% and is 25% year-to-date (YTD).

Finished steel imports with large increases in June permits vs. the May preliminary included black plate (up 540%) and sheets, strip, and all other metallic coatings (up 24%). Products with significant year-to date (YTD) increases vs. the same period in 2017 include hot rolled sheets (up 25%), plates in coils (up 23%), line pipe (up 13%) and mechanical tubing (up 12%).

In June, the largest finished steel import permit applications for offshore countries were for South Korea (206,000 NT, up 88% from May preliminary), Japan (134,000 NT, up 11%), Germany (105,000 NT, down 25%), Taiwan (103,000 NT, up 32%) and Vietnam (88,000 NT, up 18%). Through the first six months of 2018, the largest offshore suppliers were South Korea (1,738,000 NT, down 10% from the same period last year), Japan (745,000 NT, down 7%) and Germany (654,000 NT, up 9%).

Source : Strategic Research Institute

voda 20 juli 2018 16:45

0

Turkish crude steel production rises in first 6 months

AA.com.tr reported that the Turkish Steel Producers' Association said that Turkey's crude steel production rose 3.7 percent on an annual basis in the first six months of the year, reaching 18.9 million tonnes. In June, Turkey’s crude steel production was up by 0.7 percent year-on-year to reach 3 million tonnes

Meanwhile, the country's steel exports fell 2.5 percent annually to reach 9.4 million tons in the first six months of 2018, according to the association. The value of steel exports surged 22.4 percent to $7.1 billion in the period.

Source : AA.com.tr

voda 20 juli 2018 16:45

0

VW says it's ready to boost US steel at Chattanooga plant

Times Free Press reported that Volkswagen Group of America says it's committed to increasing its reliance on US steel sources and has a strategy to boost the absolute volume and share of metal that it gets from US mills. David Geanacopoulos, senior executive vice president of public affairs and public policy for Volkswagen Group of America Inc, said “Also, the Chattanooga plant has invested in significant changes to its manufacturing processes that will permit VW to substitute U S made for imported steel.”

Geanacopoulos cited VW's USD 1.9 billion investment for far in Chattanooga, where about 3,500 people work making the Passat midsize sedan, the seven-seat Atlas SUV and a planned five-seat SUV starting next year. VW is investing another USD 340 million for the five-seater.

He said “Our comments vividly demonstrate that neither Volkswagen Group of America's US production, nor its imports, create any sort of national security threat. Quite to the contrary, Volkswagen Group of America's presence in the US contributes to economic security, which ensures national security."

The remarks are included in a prepared statement leading up to a hearing today and Friday in Washington, DC, over potential auto tariffs.

The company, which has a production plant in Chattanooga, said it already primarily sourced its steel inputs of roughly 57,736 metric tons last year from US mills.

Source : Times Free Press

Vertraagd	16 apr 2024 17:39
Koers	23,760
Verschil	-1,760 (-6,90%)
Hoog	24,370
Laag	23,550
Volume	8.435.640
Volume gemiddeld	2.387.369
Volume gisteren	2.055.736

16 apr	Deutsche Bank haalt ArcelorMittal van...	1
12 apr	Video: cyclische aandelen bieden kansen
09 apr	World Steel Organisation ziet vraag n...
22 mrt	Mondiale staalproductie in de lift
12 mrt	ArcelorMittal neemt groot belang in V...
05 mrt	Beursblik: experts vinden koerswinst ...
23 feb	Mondiale staalproductie daalt opnieuw
08 feb	ING: ArcelorMittal doet het beter dan...
08 feb	Fors verlies voor ArcelorMittal
06 feb	Beursblik: winstgevendheid ArcelorMit...

Arcelor Mittal « Terug naar discussie overzicht

Nieuws en info hier plaatsen (deel 4)

Meedoen aan de discussie?

Direct naar Forum

Detail

ArcelorMittal nieuws meer