Beursonline.nl

voda 23 augustus 2019 16:27

0

Koerssprong Klöckner na overnameberichten

Gepubliceerd op 23 aug 2019 om 09:24 | Views: 1.571

ArcelorMittal 16:07
12,44 -0,05 (-0,42%)

DUISBURG (AFN) - De Duitse metalendistributeur Klöckner heeft vrijdag een flinke koerssprong gemaakt op de beurs in Frankfurt, na berichten dat staalreus Thyssenkrupp het bedrijf wil inlijven. De waarde schoot met zo'n 15 procent omhoog. Ook de koers van ThyssenKrupp steeg.

De Duitse krant Handelsblatt meldde dat ThyssenKrupp zijn oog heeft laten vallen op Klöckner na het stuklopen van de staalfusie met de Europese staalactiviteiten van Tata Steel. Thyssenkrupp liet ook weten protest aan te tekenen tegen het verbod van de Europese Commissie op die samensmelting.

Klöckner en ThyssenKrupp worden al jaren met elkaar in verband gebracht. Een directe overname ligt niet voor de hand, zo meldt persbureau Reuters op basis van bronnen. Het zou eerder gaan om een uitruil van aandelen.

voda 23 augustus 2019 16:39

0

thyssenkrupp Files Complaint Over Brussels Veto on Tata JV - Report

Reuters reported that thyssenkrupp was filing a complaint with a European court to dispute an antitrust decision that blocks a planned joint venture with Tata Steel. The complaint to the General Court of the European Union seen as a symbolic move comes after the Commission in June vetoed plans to create Europe’s second-biggest steelmaker, fearing it would overly hurt competition. The Commission was most concerned about the two companies’ combined position in the area of automotive and packaging steel, resulting in a remedy proposal Thyssenkrupp said would have been sufficient. Brussels disagreed.

Thyssenkrupp said in a statement that “In its competitive assessment of the product groups of packaging steel and hot-dip galvanized steel for the automotive industry, the Commission has for the first time set out a restrictive market definition that unduly extends the scope of the existing competition law.”

It was already clear in early May that Brussels would block the deal, causing a strategic U-turn at the group which includes a planned stock market listing or sale of its elevators division.

Source : Reuters

voda 23 augustus 2019 16:39

0

POSCO Completed Cathode Plant in Zhejiang Province

POSCO has completed the construction of its first overseas plant that produces cathodes for rechargeable batteries, signaling its entry into the global battery market. The company held a completion ceremony for the plant in Zhejiang Province, China, which can manufacture 5,000 tonsne of cathodes a year. The POSCO board approved a plan to set up a joint venture to run the plant with Huayou Cobalt in January last year, and began construction in September. POSCO has a 60% stake in the venture, named Zhejiang POSCO-Huayou ESM with the rest being held by Huayou Cobalt. Commercial production at the plant will begin at the end of 2019, a year earlier than the company's initial plan of late 2020, as ZPHE has secured stable raw material supplies from Huayou Cobalt.

Senior Executive Vice President Mr Oh Gyu-seok said during the ceremony said that "ZPHE is POSCO's first overseas battery parts plant, which represents the firm's plan to expand into new growth sectors. We will strengthen our ties with Huayou Cobalt in the future to secure the leadership in technology and competitiveness in the global market. We also expect a local marketing advantage, as the plant is adjacent to global rechargeable battery makers' Chinese manufacturing bases.”

Source : Strategic Research Institute

voda 23 augustus 2019 16:41

0

Xining Special Steel Announced H1 Result

Xining Special Steel said that its revenue in the first half of the year was 4.388 billion yuan, up 29.6% from a year earlier, and net profit was 58.4685 million yuan, up 365.05% from a year earlier, according to a semi-annual report released by Xining Special Steel on the evening of Aug. 20.

According to the semi-annual report, in the first half of this year, Xining Special Steel increased production and efficiency significantly, producing 831500 tonnes of steel, an increase of 14.55% over the same period last year, and selling 866000 tons of steel, an increase of 20.58% over the same period last year, reaching the best level in history.

Source : Strategic Research Institute

voda 23 augustus 2019 16:45

0

Schoeller Werk to Use New Surface Roughness Meter

To ensure compliance with relevant standards in the food and medical technology sector, Schoeller Werk will from now on use a new surface roughness meter (profilometer). This allows stainless steel tubes to be precisely tested at each 10th or 20th standard production length. What is more, the leading manufacturer of longitudinally welded stainless steel tubes can now measure the surface roughness values in both longitudinal and transverse directions. Customers will in future benefit from optimised products with even faster availability.

The manufacture of machine or product parts for medical technology or the food sector brings with it a great responsibility: comprehensive and precise quality control is essential. That is why Schoeller Werk invests continually in the latest technology, so it can supply its customers with a perfect finished product. The firm has recently introduced a new device for the measurement of surface roughness values. The MarSurf GD 120 is controlled by software and permits the creation of its own measurement routines. In this way, Schoeller Werk can use pre-programmed settings for material samples, without having to alter the device setting manually to test a tube of different diameter. Thanks to a probe tip radius of 0.5 millimetres, materials can be measured precisely to within a millimetre. After each measurement, the device records a measurement protocol containing all information relevant to the test concerned. In particular, the measurement and the documentation of surface roughness values are simplified by the new device.

Source : Strategic Research Institute

voda 23 augustus 2019 16:45

0

MMK Recognised by UNIDO Award

Magnitogorsk Iron and Steel Works was awarded a certificate by the United Nations Industrial Development Organisation for its contribution to sustainable development and environmental initiatives in the Chelyabinsk region, as well as for the successful implementation of its 'Energy Management of Industrial Enterprises' program. The UN experts praised MMK's efforts to reduce and prevent anthropogenic impact on the environment. Last year alone, the Company successfully implemented 69 environmental measures and work continues on 15 further measures. In 2018, MMK invested a total of 6.464 billion roubles into its environmental program. The total cost of MMK Group's environmental activities in the period from 2000 to 2018 exceeded 58 billion rubles. The result of this work was the reduction of the Company’s air emissions by 1.6 times in this period (specific consumption was reduced by 2.1 times) and the reduction of total discharge of pollutants into water bodies by 2.9 times over the same period. Today, 100% of industrial wastewater is used in water recycling.

UNIDO also highly commended the energy management system at MMK. The system was certified in 2016 for compliance with the requirements of the international standard ISO 50001 and has allowed MMK to save a significant amount of energy resources annually, as well as to dramatically reduce atmospheric emissions. In 2017, the total economic savings from the implementation of projects to improve energy efficiency of production processes at MMK amounted to around 1 billion rubles.

Source : Strategic Research Institute

voda 23 augustus 2019 16:46

0

Additive manufacturing promising with AF-9628 a High Strength Steel

Parts additively manufactured with AF-9628, an Air Force steel, are about 20% stronger than conventional AM alloys, in terms of ultimate tensile strength, according to research conducted by Capt. Erin Hager, an Air Force Research Laboratory employee and recent graduate of the Air Force Institute of Technology's Aerospace Engineering Program. AF-9628 is a steel alloy developed by AFRL's Dr Rachel Abrahams that offers high strength and toughness. The formula, nicknamed Rachel's steel, costs less than some other high performance steel alloys including Eglin Steel and HP-9-4-20; however, it is more expensive than common grades used in conventional munitions. AF-9628 is unique since it does not contain tungsten, like Eglin Steel or cobalt, part of the formula for HP-9-4-20, which is in the Massive Ordnance Penetrator, a 30,000-pound bomb that destroys assets in well-protected facilities.

Hager's research, sponsored by the Air Force Research Laboratory Munitions Directorate at Eglin AFB, Florida, determined that AF-9628 is an optimal material for additive manufacturing due to its high strength. While these findings are comparable to values reported in a similar U.S. Army Combat Capabilities Development Command Army Research Laboratory study, Hager yielded similar mechanical properties to conventionally forged and heat-treated AF-9628. Dr. Sean Gibbons, a research materials engineer with the Munitions directorate with expertise in steel, describes this finding as "exciting."

In working with Rachel's Steel, Hager employed powder bed fusion, a type of additive manufacturing in which a laser selectively melts powder in a pattern to create three-dimensional objects. As each layer is complete, the printer dispenses more powder on the build area, and the process continues until the part is complete.

Source : Strategic Research Institute

voda 23 augustus 2019 16:47

0

Steel and Tube Holdings Announced Result

Steel & Tube Holdings Limited made good progress on its business turnaround programme in FY19, although positive gains were offset by lower than expected gross margin performance due to market contraction in some high value categories and a highly competitive market. Revenues were $498.1 million, earnings before interest and tax was $16.8 million and net profit after tax was $10.4 million. On a normalised basis (excluding Plastics and FY18 non-trading adjustments), EBIT improved 22% to $16.0 million and profit increased 74% to $9.9million .

The Project Strive turnaround programme delivered a $10 million benefit in FY19 contributing to a 5% improvement in revenues and a 4% reduction in operating costs (on a normalised basis). A new operating structure has been established including a strengthened leadership team. Good progress has also been made improving safety performance and quality systems. The employee total recordable injury frequency rate of 1.5 was well below industry benchmarks.

The 5% normalised revenue gain was a result of new business growth and a combination of improved delivery performance and customer service.

Operating costs were down 4% year on year on a normalised basis, with significant structural efficiencies achieved and more being targeted. Key drivers included benefits from network optimisation, labour and other cost efficiencies. Some short term cost impacts were absorbed from Strive initiatives which will deliver long term benefits and value.

Gross margin performance was below expectations with revenue gains and cost efficiencies not enough to offset the impact of market contraction and competitive price pressures. Price competition was significant throughout the second half of FY19, business confidence has softened and some higher value sectors have contracted (stainless market particularly). The impact has mainly been seen in the Distribution businesses.

A disciplined approach to managing working capital resulted in improved inventory availability across the business whilst reducing inventory holdings, and improving debt collection rates led to a reduction in overdue debt balances. The company significantly improved cash generation with net operating cash flow of $21.3 million.

Prudent capital expenditure of $7.2 million was slightly below depreciation & amortisation and focused on productivity improvements.

Net debt reduced from $104m to $15 million due to a combination of the $78.8 million net proceeds from the capital raise, improved operating cash flows, tighter working capital management and prudent capital expenditure. The company has a strong balance sheet providing the financial strength to execute strategies and manage business trading cycles.

Mr Mark Malpass CEO said that “Steel & Tube has a number of strengths, including our national network providing a metropolitan and regional presence, a broad product range, technical capability, operational integrity and high standards of safety and quality. Our pursuit of customer excellence will help to ensure we remain a relevant and attractive option for customers. Margin performance has been challenging and, while there are external factors that are difficult to influence, the initiatives being undertaken are expected to deliver an improvement in both business divisions. We are very focused on building a business that is fit for the future and, while this is taking longer than originally anticipated, we remain confident in our long term prospects as a leader in the steel industry in New Zealand.”

Outlook
The tighter market conditions and competitive landscape are expected to prevail in FY20 and the company is adapting to ensure the business model is fit for purpose. The Project Strive turnaround programme will continue to focus on additional cost efficiencies by reducing business complexity and streamlining the supply chain. Competitive advantage is expected to be built through maximising cross-selling opportunities, margin management and leveraging the AX ERP system to support customers with digital solutions. Benefits will include improved product availability, service and delivery times for customers, and lower inventory and logistics costs for the business.

The product and asset footprint will continue to be improved and the company is reviewing options for the sale of remaining owned properties which are surplus to requirements. Costs associated with Strive initiatives will be realised in the first half results, however, will benefit the full year results. e
Source : Strategic Research Institute

voda 23 augustus 2019 16:47

0

Lodhia Group Putting Billet Plant in Tanzania

Tanzania’s steel and plastics firm Lodhia Group is putting up the country's first billets plant. According to Lodhia Group managing director Mr Sailesh Pandit, the plant will help meet the high demand for billets in Tanzania and neighbouring countries besides helping fight off under valued, under declared and substandard steel imports from South Africa that have flooded the market. Speaking to delegates of the 39th Ordinary Sadc Summit of Heads of State and Government, who had visited the firm’s plants at Mkuranga, Mr Pandit said the new plant, whose construction is due for completion next month, will produce 150,000 tonnes of billets a year.

Going by the Steel Manufacturers Association, almost all plants in Tanzania are operating at less than 22% of their in-built capacity as a result of the cheap imports choking the market.

Tanzania’s demand for steel stands at 440,336 tonnes a year, but dumped imports alone grab the market share by 200,000 tonnes, equivalent to 45 per cent.

Source : East African

voda 23 augustus 2019 16:52

0

Montecargo to Ship Iron Ore for HBIS Group Serbia

Montenegro's transport firm Montecargo has struck a deal with HBIS Group Serbia the owner of the Smederevo steel mill that will see it ship 30,000 tonne of iron ore for the Chinese-owned company. Montecargo CEO Muradif Grbovic has said that "Transport of 120,000 t of ore for the company, which is backed by Chinese capital, can be expected next year, from which Montecargo can expect revenues of 1.1 million euros.”

Source : Tanjug

voda 23 augustus 2019 16:53

0

The Liberal Government Hands USD 42 Billion in Construction Projects to China at Expense of Canadians

The federal government announced on August 9, 2019, that it will be granting full duty remissions on illegally dumped fabricated steel from China to supply two liquid natural gas projects located in British Columbia. The two projects involved are LNG Canada and Woodfibre LNG, both located on the coast of BC. The partners in LNG Canada are made up of a consortium of investors of which include China. These two LNG projects will be modularized, meaning they will be built in smaller shippable pieces with all the equipment and components preinstalled. The modules will be connected on site, requiring very few construction workers. Essentially, in doing so, the largest project ever in the history of Canada will be handed over to Chinese businesses and workers.

Mr Ed Whalen, President & CEO of the Canadian Institute of Steel Construction said that “The announcement was very disappointing. These two projects, if done in Canada, would have created hundreds of thousands of construction jobs for all trades across the country. Projects like these employ skilled workers from all over Canada and not just in the local area. This is a hundreds-of-thousands-of-jobs-lost kind of mistake.”

The duties on fabricated structural steel have been implemented by the Canadian International Trade Tribunal under the Special Import Measure Act after proof that China, South Korea and Spain were found to be illegally dumping into Canada. An appeal of the CITT’s decision is currently still pending in the Federal Court of Appeal.

Source : Stock House

voda 23 augustus 2019 16:54

0

Thyssenkrupp in Talks to Buy Steel Trader Kloeckner - Report

German industrial group Thyssenkrupp is in talks to buy metals distributor Kloeckner & Co in a move to strengthen its materials trading business, Handelsblatt reported citing sources familiar with the matter. The Newspaper said that Thyssenkrupp CEO Guido Kerkhoff, under pressure after a fourth profit warning on his watch sent the group’s shares to a 16-year low, has put a deal to buy Kloeckner & Co at the centre of a turnaround plan he is working on.

One source familiar with the matter told Handelsblatt that “This objective is very concrete and has a good chance of being realised.” Three people familiar with the matter said the groups were regularly talking on a wide range of issues, including consolidation, adding that a takeover was currently not in the works.

Thyssenkrupp is banking on the sale or listing of its elevators division to bring in badly needed funds to finance the ailing conglomerate’s turnaround, hit by a weakening economy, a structure seen as too complex and dwindling investor faith.

Source : Reuters

voda 23 augustus 2019 16:55

0

CVL Plans to Double Supplies to SAIL & RINL

International Coal Ventures Ltd proposes to almost double the supply of coal from Mozambique to meet the targeted 10% requirement of Steel Authority of India Ltd and Rashtriya Ispat Nigam Ltd. ICVL was set up in 2009 as a joint venture company of SAIL, RINL, Coal India Ltd, National Mineral Development Corporation and NTPC Ltd. It aims to secure metallurgical and thermal coal assets in overseas territories.

SAIL told BusinessLine that “The mining from these overseas assets (in Mozambique) are gradually being enhanced. In 2018-19, ICVL exported around 1 million tonne of met coal to SAIL and RINL and that was around 6 per cent of the total requirement of SAIL. However, in 2019-20, ICVL plans to raise production to reach the rate of fulfilling 10 per cent of the requirements of SAIL and RINL.”

SAIL added that the company was also tasked to own about 500 mt of met coal reserves by FY20. “ICVL has acquired coal mines and assets in Mozambique with met coal reserves of more than 500 mt. Hence the target has been achieved. Moreover, various expansion plans are on the anvil in some of the acquired mines to augment the existing processing capacity.”

Source : Business Line

voda 23 augustus 2019 16:55

0

Minister Garneau Stands Support of Quebec & Ontario Steel Workers

The Government of Canada stands with steel and aluminum workers, their families and their communities. And the government is delivering on its commitment to support the steel manufacturing sector and its workers. The Honourable Marc Garneau, Minister of Transport, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, visited the Heico Canada facility in Marieville, Quebec, to announce a major new investment in the facility. Through the Strategic Innovation Fund, the government is investing USD 18 million as part of a USD 50.7 million project that will create 86 jobs and maintain 1,308 more at Heico facilities in Marieville, Quebec, L’Orignal, Ontario, and Ingersoll, Ontario.

The project will enable Heico Canada to diversify its product mix and supply the market with more high-quality, value-added wire and wire rod products, while decreasing its greenhouse gas emissions.

The government’s investments in Canada’s world-class steel and aluminum producers such as EVRAZ, Algoma Steel Inc, ArcelorMittal, Elysis (Alcoa Corporation and Rio Tinto Aluminum joint venture), Alcoa (in French), Aluminerie Alouette, Nova Tube Inc., Gerdau, Tenaris Algoma Tubes and Stelco are ensuring they continue to provide thousands of Canadians with good middle-class jobs and remain important contributors to our economy and manufacturing supply chains.

Source : Strategic Research Institute

voda 23 augustus 2019 17:12

0

Iranian Iron Ore Concentrate Output Exceeds 15 Million Tonne in 4 Months - Report

IRNA reported that production of iron ore concentrate in Iran during the first four months of the current Iranian calendar year (March 21 – July 21) reached 15.903 million tons, registering a three percent rise compared to the same period last year. The data regarding the output of major mineral production companies released in the first four months of the current year indicated that 15,903,165 tons of iron ore concentrate was produced. Tose’e Melli Mining and Industries Company, a subsidiary of Khuzestan Steel Company, registered the maximum 92 percent production growth in the same period.

In the same period, 14,403,672 tons of iron ore conglomerate was produced, showing one percent decline as compared to the last year’s corresponding period. Conglomerate produced in Khorasan Steel Company recorded a 70 percent growth in the first four months of the current year (March 21 – July 21).

According to the statistics, 1,662,958 tons of granulated iron ore was produced in the first four months of the current year, showing a 37 percent decline as compared to the last year’s corresponding period.

Source : ITehran Times

voda 23 augustus 2019 17:13

0

Mineral Resources Makes Superior Bid for Cazaly’s Parker Range Iron Ore Project

Lithium and iron ore miner Mineral Resources looks like it will be trumping Gold Valley Iron Pty Ltd in its bid to secure Cazaly Resources’ Parker Range iron ore project offering Cazaly USD 20 million for the asset in addition to royalties. The offer outbids Gold Valley, which said it would pay USD 13 million plus royalties for the asset back in June. Cazaly revealed this morning that due to Mineral Resources’ superior offer, the agreement with Gold Valley has now been terminated, with Cazaly to pay a USD 250,000 break fee.

The offer

Mineral Resources has provided a binding heads of agreement offering Cazaly USD 20 million for the iron ore asset as well as a royalty of USD 0.50 per tonne of iron ore produced from the tenements after the first 10Mt.

However, the agreement remains conditional on a 21-day due diligence period and requisite shareholder and regulatory approvals. The companies plan to execute a more comprehensive agreement within 30 days.

Parker Range lies about 85 kilometer from Mineral Resources’ Koolyanobbing operation, which produces 6 million tonnes per annum of iron ore, with output expected to increase to 7.5Mtpa in early 2020.

Parker Range iron ore project

In an updated definitive feasibility study earlier this year, Cazaly revealed it would cost about $130 million to develop Parker Range, which is located in Western Australia’s Yilgarn and has key approvals in place to begin production. The project has a proven and probable ore reserve of 31.4Mt to produce an iron ore fines product grading 56.4% iron.

An original DFS was revealed for the project in 2011 estimated annual production of 4.2Mt of iron ore fines.

Source : Strategic Research Institute

voda 26 augustus 2019 08:16

0

Vraag naar vanadium stijgt weer - media

(ABM FN-Dow Jones) De populariteit van vanadium stijgt, nu staalfabrikanten de vraag naar dit metaal weer opvoeren. Dit zegt althans Evraz, de grootste producent van vanadium buiten China, volgens persbureau Bloomberg.

De prijs van vanadium, in 2018 nog op een piek, daalde dit jaar met circa 75 procent, vooral door een teruggelopen vraag uit China waar nieuwe regels ten aanzien van het gebruik van het metaal van kracht werden. Staalfabrikanten weken daarom uit naar alternatieven zoals bijvoorbeeld niobium en titanium.

Volgens Bloomberg zou de topman van Evraz hebben gezegd tevreden te zijn met de huidige prijs voor vanadium van 30 tot 40 dollar per kilo.

Het in Amsterdam genoteerde AMG produceert vanadium, net als titanium en niobium.

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

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

voda 26 augustus 2019 16:21

0

Renewed US China Trade Friction to Impact Steel Sector Fundamentals - IndRa

India Ratings and Research has published the credit news digest on India’s steel sector for July 2019. The report highlights the demand-supply scenario, price trends, imports & exports in both India and China, encompassing finished steel products, both flat & long, scrap, iron ore, coking coal etc., while also looking at the impact of end-user industries on India’s steel sector. IndRa said “The last few months have witnessed a renewed trade dispute between the US and China. With the existing friction in global trade, the Chinese government would need to provide further economic support to the country’s domestic industries, as it had done in the recent past, including the undertaking of targeted stimulus efforts to give a boost to the Chinese infrastructure and construction sectors. On the domestic front, the Indian steel sector is likely to see robust demand from the affordable housing and infrastructure sectors, bolstered by various government schemes and projects. However, demand from the automobile sector is likely to be muted.”

IndRa said “A key area to watch out for is the auction of mines by March 2020. Any material delay in the due process could lead to disruption in domestic steel production in FY21. Fe 64% iron ore prices rose 48% YoY to USD 135 per tonne CNF India in July 2019, largely because Brazil based Vale SA, a global leader in iron ore and nickel production, cut its production on account of the collapse of a dam in January 2019. However, in July 2019, Brazilian supply showed signs of recovery, and this revival shall further be fuelled by the recent news on Vale resuming operations at the closed mines. Furthermore, considering the depreciation of Chinese currency on account of the imposition of new tariffs by the US, and with mills reluctant to increase iron ore inventories owing to the muted demand scenario, iron ore prices will showcase a bearish trend in the coming months.”

Ind-Ra expects the supply of coking coal to be tight in the coming months, with large Australian miners reducing their output. However, India, the largest coking coal importer from Australia, has been maintaining its monthly import levels. Over the near-to-medium term, the agency expects coking coal prices to remain elevated, though there would be a slight moderation.

Overall, the fundamentals for the steel sector are likely to weaken in FY20, with the risk of softening of prices, elevated raw material prices and weak demand. However, the impact of these factors would be partly off-set by favourable demand-supply balance for industry participants.

Source : Strategic Research Institute

voda 26 augustus 2019 16:22

0

thyssenkrupp Files Complaint Against EU Commission Decision

thyssenkrupp announced that it has filed a complaint with the General Court of the European Union against the European Commission's decision to prohibit the formation of a European flat steel joint venture with Tata Steel. It said “thyssenkrupp does not share EC’s concerns. In its competitive assessment of the product groups of packaging steel and hot-dip galvanized steel for the automotive industry, the Commission has for the first time set out a restrictive market definition that unduly extends the scope of the existing competition law. Furthermore, the Commission did not take adequate account of the structural importance of imports into Europe, buyer-side purchasing power and possible substitutions with alternative packaging materials and alternative galvanizing methods. Finally, the commitments submitted by thyssenkrupp and Tata Steel, consisting of production facilities, long-term supply contracts and significant investments, would have been sufficient to remove competition concerns.”

The Commission had justified its merger control decision of June 11, 2019 by stating that a joint venture between thyssenkrupp and Tata Steel would restrict competition in Europe in certain steel grades to such an extent that price increases for customers and consumers could be expected. The Commission found that the remedies offered by the parties were insufficient.

Source : Strategic Research Institute

voda 26 augustus 2019 16:23

0

ArcelorMittal Brazil extends Tubarao's furnace idleness

ArcelorMittal Brazil has extended the stoppage of its Tubarao's Blast Furnace No 2 to the end of the year, from an initially expected 70-day time frame. Company CEO Flat Carbon South America Mr Benjamin Baptista on the sidelines of Instituto Aco Brasil steel congress last week said that “We are going to take a slow pace on the maintenance.” Mr Baptista did not disclose the exactly when operations will resume or the reasons behind the decision. The steelmaker had idled the 1.5 million tonnnes crude steel capacity blast furnace on June 23 due to market conditions. The maintenance stop, originally slated for mid-August, was first set to follow its original 70-day time frame, now delayed until the end of 2019.

ArcelorMittal Tubarao, located in Vitoria, produced around 7 million tonnes of crude steel in 2018, down from 7.2 million in 2017. Its plant is focused on flat steel products. Last year, the unit exported a total of 2.37 million tonnes of slab, which is close to its surplus production of slab of around 3 million tonnes per year.

Source : Strategic Research Institute

Vertraagd	23 apr 2024 09:07
Koers	24,020
Verschil	-0,090 (-0,37%)
Hoog	24,100
Laag	23,960
Volume	112.216
Volume gemiddeld	2.432.254
Volume gisteren	2.204.739

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