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voda 12 mei 2021 09:08

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JSW Steel Crude Steel Production in April 2021 Shrinks

JSW Steel announced that crude steel production for the month of April 2021 was at 1.371 million tonnes. The average capacity utilisation was 91% during the month of April, 2021 as against 96% in March 2021. The capacity utilization was lower sequentially in April 2021 due to priority in supply of Liquid oxygen for medical purposes over augmenting steel production. During April 2021, over 20000 tonnes of liquid oxygen for medical purposes was supplied from the Steel Complexes of the Company.

The production of Rolled Products Flat was down 9% MoM at 0.957 million tonnes in April 2021 as against 1.050 million tonnes in March 2021 and 0.344 million tonnes in April 2020. The production of Rolled Products Long was down 5% MoM at 0.337 million tonnes in April 2021 as against 0.354 million tonnes in March 2021 and 0.089 million tonnes in April 2020.

Source - Strategic Research Institute

voda 12 mei 2021 09:11

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Mr Lex Greensill Takes Full Responsibility for Greensill Collapse

Financial News London reported that supply chain finance firm Greensill Capital founder Mr Lex Greensill, former Citigroup and Morgan Stanley banker, apologised for the company's collapse and took full responsibility for its demise in front of British MPs. Mr Greensill told a UK’s Treasury Committee hearing on 11 May "I am desperately saddened that more than 1,000 very hardworking people have lost their job. I take full responsibility for any hardship being felt by our clients and their suppliers and investors in our programmes."

However Mr Greensill also pointed the finger of blame at a number of third parties, including German regulators and credit insurers, as well as the impact of the Covid-19 pandemic. Greensill said "It's deeply regrettable that we were let down by our leading insurer, whose actions assured Greensill's collapse. The ultimate failure of Greensill was for one reason. There are always associated reasons, but the reason that Greensill ultimately failed was because a material portion of our funding is provided by investors who require insurance together with the asset they purchase to protect them against the default of the underlying receivables."

Mr Greensill echoed this timeline in his hearing in front of MPs, saying that he was first became concerned about his firm in mid-December. He told "The first event that gave me concerns, though not for our company, I certainly had reservations and concerns about the state of the capital markets during March, April and May 2020. The capital markets at that time were roiled by the uncertainty of Covid. Although Greensill was funded by more than 50 banks and several dozen institutional investors, one didn’t know what was going to happen in the future. As it was we were able to support each of the supply chains and meet each of the suppliers’ requirements."

Fielding a round of intense questioning, the former banker was asked by Labour MP Mr Siobhain McDonagh if he is a fraudster. Mr Greensill responded "I am not.” The grilling by McDonagh continued "I've looked up the definition of fraud. It's an act or an incidence of deception...it seems to me that this is precisely what your financial model of prospective receivables is – nothing more than a trick." Mr Greensill fought back, responding "The business that we undertook was properly described. All of our investors understood exactly what it was that they were purchasing. In any investment, there is risk."

Source - Strategic Research Institute

voda 12 mei 2021 09:11

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Vietnam Deputy PM Orders for Control of Steel Prices

VN Express reported that after steel prices in Vietnam have experienced a 40-50% surge since the beginning of the year, Vietnam’s government has asked steelmakers to implement several steps to control rising steel prices that are hurting construction contractors. Vietnam’s Deputy Prime Minister Mr Le Minh Khai has asked the Ministry of Industry and Trade to push for increased domestic steel production towards stabilizing prices. He also said the export of steel should be lowered to ensure that local demand is met.

According to the Vietnam Steel Association, steel production in Q1 reached 7.6 million tonnes, a year-on-year increase of 34% and steel exports rose 59.5 % YoY to 1.6 million tonnes, according to the VSA.

Source - Strategic Research Institute

voda 12 mei 2021 09:12

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thyssenkrupp Reports Strong Momentum in 2nd Quarter

thyssenkrupp was able to build on its good 1st-quarter performance in the 2nd quarter of the current fiscal year 2020/2021. The group’s order intake was up 14% against the comparable prior-year period at EUR 8.6 billion. Sales in the 2nd quarter also increased by 4% to EUR 8.6 billion as compared to EUR 8.2 billion in prior year. Adjusted EBIT came to EUR 220 million, up significantly from the prior-year figure of minus EUR 279 million. Almost all segments contributed to this earnings improvement. Positive effects from the restructuring and efficiency measures supported this growth. thyssenkrupp AG CEO Ms Martina Merz said “We made up more ground in the 2nd quarter. On the one hand we were helped by the recovery in many of our markets. On the other, our performance measures are having the planned effect. That’s good and gives us confidence. But we also know that we still have a lot of work to do. So we’re not sitting back. The realignment of thyssenkrupp remains a journey of many small steps and we’re taking those steps.”

In a continued structurally challenging market environment, order intake and sales at Steel Europe were up 13 percent and 8 percent respectively from the prior year. As a result of catch-up effects above all from the automotive industry and strong demand from restocking particularly at steel processors, business continued to pick up. Adjusted EBIT improved significantly to EUR 47 million (prior year minus EUR 181 million). Reasons for this were higher capacity utilization combined with an improved product mix and positive price trend as well as initial effects of the ongoing restructuring and the initiated performance measures.

Crude steel production increased 5.7% year on year to 2.2 million tonnes at the integrated steelworks in the company's financial Q2, largely stable quarter on quarter. Thyssenkrupp's semis producer HKM saw an output increase of 5.6% to 756,000 tonnes, a quarter-on-quarter uptick of 1.7%. Shipments of cold-rolled slightly decreased from 1.8 million tonnes in Q2 last year to 1.7 million tonnes Q2 this year, but saw a 6.3% increase quarter on quarter. Hot-rolled shipments grew from 122,000 tonnes Q2 last year to 129,000 tonnes this year, recording a 5.7% increase compared with the first quarter of the year.

In light of the good 1st half performance, thyssenkrupp has raised its forecast for the current fiscal year for both sales and earnings. Despite the clear improvements, thyssenkrupp expects a net loss of up to a mid 3-digit million euro amount (previously: net loss in the high 3-digit million euro range; prior year minus EUR 5.5 billion). This includes restructuring expenses in the mid 3-digit million euro range.

Source - Strategic Research Institute

voda 12 mei 2021 09:20

1

GFGAlliance Hires Rothschild for Sale of Ascoval&Hayange in France

According to a report in Britain’s Financial Times, GFG Alliance has reportedly hired France based Rothschild bank to help sell two steel plants in France. The Financial Times says the two mills being marketed by GFG and the investment bank are the Ascoval and Hayange facilities it acquired in August 2020. The plants were purchased from France Rail Industry, with the Ascoval facility being an electric arc furnace steel mill that supplies semi-finished steel to the Hayange facility, where it is converted into rail.

According to an earlier press release of GFG Alliance “The Ascoval facility in Saint-Saulve in France uses EAF technology and has the capability to produce 600,000 tonnes of steel blooms, billets and other forged products annually from recycled scrap metal. Hayange, located in Moselle in France, manufactures a wide range of steel rails for nationally significant infrastructure clients including France’s national rail operator SNCF and RATP, the operator of Paris metro system and produces over 300,000 tonnes of rail per year.”

Online NewsBusiness NewsSteel NewsGFG Alliance

Source - Strategic Research Institute

*voetnoot 12 mei 2021 09:24

0

quote:
voda schreef op 12 mei 2021 09:20:
GFGAlliance Hires Rothschild for Sale of Ascoval&Hayange in France

According to a report in Britain’s Financial Times, GFG Alliance has reportedly hired France based Rothschild bank to help sell two steel plants in France. The Financial Times says the two mills being marketed by GFG and the investment bank are the Ascoval and Hayange facilities it acquired in August 2020. The plants were purchased from France Rail Industry, with the Ascoval facility being an electric arc furnace steel mill that supplies semi-finished steel to the Hayange facility, where it is converted into rail.

According to an earlier press release of GFG Alliance “The Ascoval facility in Saint-Saulve in France uses EAF technology and has the capability to produce 600,000 tonnes of steel blooms, billets and other forged products annually from recycled scrap metal. Hayange, located in Moselle in France, manufactures a wide range of steel rails for nationally significant infrastructure clients including France’s national rail operator SNCF and RATP, the operator of Paris metro system and produces over 300,000 tonnes of rail per year.”

Online NewsBusiness NewsSteel NewsGFG Alliance

Source - Strategic Research Institute

Beste @voda

Dank weer voor alle updates.

voda 12 mei 2021 09:31

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US Domestic Steel Shipments in March up 18% MoM

The American Iron and Steel Institute reported that for the month of March 2021, US steel mills shipped 7,950,431 net tons, an 18% increase from the 6,735,067 net tons shipped in the previous month, February 2021, and a 1.9% increase from the 7,802,192 net tons shipped in March 2020. Shipments year-to-date in 2021 are 22,106,314 net tons, an 8.3% decrease vs. 2020 shipments of 24,109,603 for three months.

A comparison of March shipments to the previous month of February shows the following changes: hot rolled sheet, up 18 percent, cold rolled sheet, up 17 percent and hot dipped galvanized sheet and strip, up 16 percent.

Source - Strategic Research Institute

voda 12 mei 2021 09:31

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Kobe Steel Embarks on Carbon Emissions Path

Japanese steelmaker Kobe Steel Ltd aims to cut its CO2 emissions from its production process by 30-40% by 2030 from 2013 levels in concert with a global push toward decarbonisation. Kobe Steel plans to cut CO2 emissions from blast furnaces by using a new method combining its operation technology and the direct reduction iron technology of its US unit Midrex Technologies Inc. It also aims to develop a hydrogen reduction iron making method and consider using electric furnaces.

The 2030 target does not include its power generation operation, but the company aims to achieve carbon neutrality by 2050 including the power generation business. It plans to use cleaner fuels such as ammonia at its coal-fired power plants.

Source - Strategic Research Institute

voda 12 mei 2021 09:32

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Dillinger LP Plates Used in Neckar Bridge in Germany

The elegant steel sails, which give the bridge its unique shape, are made of massive steel plates whose thickness increases steadily over the course of the tension chords to the mast heads. In order to be able to achieve this, Dillinger longitudinally profiled plates (LP plates) were used in thicknesses of up to 125 mm. For the highly stressed mast heads at the end of the steel sails, plate thicknesses of up to 200 mm (in the middle beam) were even required, which was realized using special Dillinger S460QL plates with toughness requirements significantly exceeding the standard. Thus, in this impressive project, high strength fine grained structural steel plates with such thicknesses were even used for the first time on a railway bridge in the DB AG network.

Another special feature for this bridge is the use of very heavy TM plates S460 ML > 30 t to reduce the construction site joints in the sails.

The railway bridge over the river Neckar will be essential to connect the new railway main station of Stuttgart with the northern and eastern rail routes in Germany. The bridge is designed as a steel composite bridge, where the steel longitudinal structure is composed of three longitudinal beams along the median and on either side of the deck, in combination with “steel-sails” supporting the main bridge’s longitudinal beams. The reinforced concrete deck slab is in composite action with the regularly spaced steel cross-beams. The form of the sails has been optimized to reduce the plate thickness to a minimum. High performance steel shall be used for the highly stressed tension ties, which connect the sails with the masts. Another specifically designed detail is the series of slender columns, of which nine take the horizontal braking forces of the trains.

Source - Strategic Research Institute

voda 12 mei 2021 09:36

0

Metalloinvest Signs Iron Ore Products Contracts with Steel Makers

Leading Russian mining and metallurgy company Metalloinvest has signed new long-term contracts for the supply of iron ore products with leading Russian and foreign companies. Under these agreements, Metalloinvest will supply 3.6 million tonnes of concentrate and 12 million tonnes of pellets per year from Lebedinsky GOK and Mikhailovsky GOK. The contracts are designed for terms ranging from one to three years. Iron ore products in the volume of 2 million tonnes, 4.65 million tonnes and 2.8 million tonnes per year will be shipped to the Industrial and Metallurgical Holding PMH, Magnitogorsk Iron and Steel Works MMK and EVRAZ, respectively. In addition, over 6 million tonnes of iron ore products per year will be supplied to the Company's foreign partners. Agreements were signed with ThyssenKrupp, Rogesa, ArcelorMittal, US Steel Kosice, Trinecke Zelezarny, Nippon Steel Sumitomo Metal, ERDEMIR, British Steel & HBIS Serbia.

For the needs of the coke-chemical production of Metalloinvest’s Ural Steel, a long-term contract on formula pricing was also signed with EVRAZ for the purchase of highly volatile coals for coking.

Source - Strategic Research Institute

voda 12 mei 2021 09:38

0

MMK Piloting Unmanned Cargo Transportation

Magnitogorsk Iron and Steel Works, the transport company Traft and the company Evocargo have agreed on the pilot operation of unmanned trucks EVO-1 on the territory of the combine. They plan to start testing drones at MMK in May-June this year. The test launch of the EVO-1 unmanned trucks at the test center in Moscow took place in March this year. A fleet of three unmanned EVO-1 trucks travelled autonomously at a set speed, independently tracking road signs and markings. All that was required of a person was to press the start button on the panel on the side of the car. No shortcomings were identified during the test of the drone, all participants in the test launch were satisfied with the results and expressed confidence in successful further cooperation.

The project participants held a round table, during which they discussed issues related to the organization of constant movement of unmanned trucks on the territory of PJSC MMK. So, a prerequisite for the successful implementation of the project is the preparation of the territory along which the UAVs will move - road markings, signs, specially equipped railway crossings, which guarantees the successful implementation of unmanned systems on the territory of the plant.

Innovations in logistics are part of the long-term development strategy of PJSC MMK along the path of digital transformation. Self-driving trucks are an essential component of efficient logistics processes. The use of drones will allow MMK to reduce the risks and costs of transportation, make them safer and, which is very important, environmentally friendly, since the vehicles are powered by electric traction.

Before the main launch, the parties will have to resolve some organizational issues and come to final agreements on the project. Based on the results of the pilot operation, a decision will be made on the further use of unmanned vehicles in the companies of the MMK Group.

Transport company Traft is an operating carrier of PJSC Magnitogorsk Iron and Steel Works. In the future, on the territory of the plant, the company plans to completely replace man-controlled cars with drones.

Evocargo specializes in the development and implementation of logistic vertically integrated services using electric unmanned vehicles of its own production.

Source - Strategic Research Institute

voda 12 mei 2021 09:39

0

OMK Opens Warehouses in Naberezhnye Chelny & Voronezh in Russia

The United Metallurgical Company has opened warehouses for the sale of pipes and rolled products in Naberezhnye Chelny in Republic of Tatarstan of Russia and Voronezh in Voronezh Oblast of Russia. The warehouses store the entire range of pipe products manufactured at OMK enterprises in the Nizhny Novgorod region, Vyksa plant of OMK and Tatarstan, Almetyevsk plant of OMK; sheet and shaped rolled products from third-party manufacturers are also presented. In particular, the warehouse in Naberezhnye Chelny is ready for prompt shipment of more than seven thousand tons of metal, profile, water and gas and electric-welded pipes. The warehouse in Voronezh provides storage for up to six thousand tonnes of rolled metal and pipes.

Now OMK Market customers from these cities and nearby regions will be able to receive a comprehensive supply of metal products, including small retail lots, in a short time. With the opening of additional OMK warehouses, consumers of metal products can build efficient logistics and save on delivery costs. The warehouse in Naberezhnye Chelny will be convenient for customers from Tatarstan and neighboring districts of Bashkortostan, the warehouse in Voronezh will be convenient for local customers and consumers from Belgorod, Kursk, Orel and Rostov. The available crane equipment allows carrying out loading and unloading operations in the shortest possible time.

Source - Strategic Research Institute

voda 13 mei 2021 14:37

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After 6 Years of Losses, JSPL Reports Huge Profit in 2020-21

Buoyed by higher sales and increased margin Jindal Steel and Power Ltd, after 6 years of losses, announced net profit of INR 5,527 crore for financial year 2020-21. In 2019-20 fiscal, the company reported a loss of INR 574 crore. JSPL’s annual consolidated gross revenue grew by 224% YoY to INR 42,745 crore with EBIDTA rising to INR 14,444 crore. JSPL’s annual production of steel including pig iron rose 19% YoY to 7.51 million tonnes, while the production of pellets rose by 6.6% YoY to 7.28 million tonnes. Better export markets during the year resulted in JSPL exports rising by 226% YoY to 2.53 million tonnes in FY21, accounting for 35% of the overall sales versus 13% in FY20

Focusing on strengthening the balance sheet, the company has pared down its consolidated net debt by INR 13,773 crore for the entire 2020-21 fiscal. As of March 2021, JSPL’s consolidated net debt stood at INR 22,146 crore.

The core focus right now is to sweat out assets and make JSPL net debt-free. Thereafter, the company will be embarking on a journey to expand its profitability and volumes via the Angul expansion from 6 million tonne per annum to 12 million tonne per annum taking JSPL’s overall steel capacity to around 16 million tonne per annum in India.

Source - Strategic Research Institute

voda 13 mei 2021 14:38

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MCMA Flags Tin Plate Shortage Hitting Packaged Food Industry

India’s Metal Container Manufacturers Association has raised red flag that in the wake of acute shortage of tinplate & tin free steel material which is largely used to manufacture cans and containers to pack processed food and fruits, the processed food packaging industry is feeling a pinch. Metal Container Manufacturers Association said “The small players who are into the business of packaging of fruits and other processed food have lamented that the government is not able to meet the demand of tin cans and containers. This is the season to process and packaging of Mango pulp however there is shortage of cans and easy open ends which is affecting the packing of mango pulp particularly for exports. The Maharashtra mango Alphonso is world famous and the pulp has a great demand worldwide however the shortage of tin can has impacted the supply and the packaging both. Another company which is into packaging of processed cheese has complained there is suddenly a surge in price of steel and tin containers and availability is also an issue. Most of the companies who are manufacturing tin containers are small companies and could not meet the demand as there is a shortage of raw material used in manufacture of cans. Not only the packed food industry but the other sectors which are the end users of the tinplate & tin free steel containers have also complained that they are not getting the required quantity of containers and whatever is available is expensive.”

MCMA said “The industry is ready to abide by the BIS standard and ready to adopt, however, at this moment it is not feasible for the global suppliers and even the government to speed up the BIS process. 3 leading international suppliers of tinplate & tin free steel have applied for the BIS however it’s been more than 4 months that there is no action on their BIS application.”

On 17th July 2020 the Government of India imposed a BIS standard for the import of tinplate & tin free steel products like easy open ends, peel off ends etc. The implementation of the same has now been extended up to 17th July, 2021. Few exporters of tinplate from other countries have applied to BIS for getting the registration and approval of their plant but due to COVID conditions all such applications have been put on hold by BIS. This has resulted into virtual zero import of these essential materials thereby resulting in shortage of tinplate containers. Most of the suppliers from Japan , Korea have already raised their hands to get into the BIS compliance at this moment as no one wishes to travel to India for the BIS vice versa BIS staff can’t move out of the country to go and inspect the plants of tinplate producers in those countries.

According to the representation given by Metal Can Manufacturers Association, to the Ministry of Steel, the country has a huge demand supply mismatch the domestic product is limited to 400,000 -450,000 tonnes as against the total demand of 700,000 tonnes. On an average 250,000 tonnes demand is met by imports from Japan, Korea, China and other countries who are the bulk producers of tinplate & tin free steel products like easy open ends & peel off ends etc.

Source - Strategic Research Institute

voda 13 mei 2021 14:39

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AR to Help Process Optimization in Steel Industry

The power of Augmented Reality is set to be used to optimise processes in the steel and metals industry and retain crucial skills that could be lost forever as an ageing workforce retires. UK based Materials Processing Institute recently announced that leading authorities on Industrial Internet of Things PTC has joined forces with the Materials Processing Institute, a research and innovation centre serving global steel and materials organisations, to explore the potential of AR at its Normanton Plant in Teesside. The project will initially use Vuforia Studio technology to overlay live data, taken from the ThingWorx industrial platform, to various points of the facility, so that operators moving around will be able to make informed decisions on changes to casting and melting lines or troubleshoot issues before they happen. It is anticipated that Augmented Reality will make it easier for staff to have the right information at exactly the right point they need it, whilst the use of HoloLens and RealWear glasses will mean the individual has both hands free to complete tasks.

This project will contribute to the sector’s longer-term desire to move towards a net zero steel works by 2050 and is part of the GBP 22 million PRISM steel and metals sector research and innovation programme being delivered by the Materials Processing Institute with funding provided through Innovate UK, part of UK Research and Innovation.

Source - Strategic Research Institute

voda 13 mei 2021 14:40

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Benxi Grants FAC to SMS for Hot Strip Mill Modernization

Benxi Iron & Steel of China has issued the Final Acceptance Certificate to SMS group for the successful modernization of their 1,700 millimetre No 1 hot strip mill. The objective of this project was to bring the mill’s production capacity and the production range by adding high-strength steels, up to the requirements of the hot-strip market. As a key part of the modernization, three CVCplus, Continuously Variable Crown, work-roll bending and shifting systems have been installed in the finishing stands F2 to F4, complete with the associated valve technology. These systems enhance the geometrical tolerances of the hot strip. The optimization measures performed on the rolling stands F2 to F4 comprised not only the mill stands themselves but also the inter-stand areas. Improved guides and new work-roll cooling systems have been installed on the entry sides of all three stands. The innovative roll gap lubrication system, in combination with the optimized roll-gap cooling system, reduces the mechanical stresses (forces and torques) acting on the rolling stands, prolonging the roll lives as a result. Thanks to the resulting boost in performance capacity of the finishing stands F2 to F4, the mill can now also produce strip in high-strength grades.

Further, the back-up roll balancing systems in the finishing stands F1 to F7 have been upgraded by replacing the emulsion-based balancing hydraulics with oil hydraulics. This measure involved the replacement of the cylinders and the complete control system, including the connecting pipes and the piping within the stands. In addition, in stands F1 and F5 to F7, the work-roll locking systems on the operator side have been replaced by a reinforced design.

Source - Strategic Research Institute

voda 13 mei 2021 14:41

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Tenova to Revamp Burners in Galvanizing Line at thyssenkrupp

Leading global company in the field of heat treatment plants Tenova LOI Thermprocess has received another order from thyssenkrupp Steel Europe AG for the revamping of burner technology at the continuous galvanizing line located in Bochum in Germany. This modernization measure is an important cornerstone in enabling thyssenkrupp Steel to produce high-strength steels, AHSS, in Bochum in the highest quality and with increased production capacity for further use in the automotive industry. In order to meet market requirements and reduce both emissions and energy consumption, the furnace will be equipped with new burners that meet even highest requirements by targeting the lowest possible NOx-emission levels (lower than 140 mg per cubic meter(@3%O2 reference)) during production. In addition, the heating system will be upgraded in order to increase the target strip temperatures to > 900°C.

For Tenova LOI Thermprocess, this is the third consecutive modernization order received for the continuous galvanizing line in Bochum, proving the company’s successful R&D development strategy.

With an annual production capacity of 540,000 tonnes of high quality galvanized steel it is one of the core production lines of thyssenkrupp Steel Europe for the production of car body parts and AHSS-steels. The line was commissioned in 1992, and since 2014 major parts have been upgraded with the latest state-of-the-art technologies. In the first phase, the pre-heating and over-aging sections were modified to improve the annealing cycle in over-aging regarding larger heating capacity and improved temperature homogeneity. The energy recovery in the pre-heating section has nearly doubled and therefore the carbon footprint of the line was significantly reduced. In 2017, a major step towards production of AHSS was realized through a substantial revamp of the fast cooling section. A new set of nozzle boxes, fans and heat exchangers were added to the existing equipment. The system is designed for highest heat transfer coefficients and lowest strip vibrations, even with enlarged strip length without roller support.

Source - Strategic Research Institute

voda 13 mei 2021 14:43

0

BSIET Orders Iron Ore Pelletizing Plant from Metso Outotec

Metso Outotec has signed a contract with Beijing Shougang International Engineering Technology Co Ltd for the delivery of environmentally sound pelletizing technology for Yunnan Yuxi Yukun Iron and Steel Group Co., Ltd. The iron ore pelletizing plant will be built in the Dahua industry park of Eshan, Yuxi, Yunnan, China. The order value is not disclosed. Metso Outotec's scope of delivery covers the engineering and design of the indurating system, engineering of the process gas fan system, supply of proprietary equipment, instrumentation and control systems, as well as supervisory services and technical training. The Yukun plant targets annual production of 4 million tonnes of pellets. Production is expected to start in 2023.

This is the third pellet plant order Metso Outotec has received within a short period of time from China. China is continuously developing its production facilities and capabilities to meet the domestic and world demand, as well as the increasing sustainability requirements related to emissions control and carbon neutrality. Metso Outotec’s traveling grate technology used in the pelletizing plants ensures high performance and quality while decreasing energy consumption and emissions significantly.

Source - Strategic Research Institute

voda 13 mei 2021 14:44

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OMK Appoints Mr Vashchenko as MD of Chelyabinsk Plant

United Metallurgical Company OMK has announced the appointment of Mr Alexander Vashchenko as Managing Director of the OMK plant in Chelyabinsk Trubodetal JSC. He will also continue to hold a similar position at OMK's Belgorod plant Belenergomash-BZEM LLC, which he has headed since 2014, and will manage two of the company's enterprises. This will allow OMK to increase the synergy between these plants. Mr Evgeny Baranov, who has been managing the OMK plant in Chelyabinsk since January 2019, remains to work for the company.

Mr Vaschenko was born on August 9, 1954 in the Belgorod region and graduated from the Belgorod Technological Institute of Building Materials with a degree in Mechanical Engineering Technology, Metal-Cutting Machines and Tools. He came to the Belgorod Power Engineering Plant in 1971 as a milling machine operator, having gone through all the stages of growth to the Director of Sales. Later he held various management positions at leading enterprises in the country. Head of the Belgorod Power Engineering Plant since June 2014.

For high achievements in the implementation of socially significant projects in the country and the Belgorod region, he was awarded the Nikolai Ryzhkov Prize "Creation" (2018), the medal "For services to the Belgorod Land" II degree (2018), the medal "For services to the city of Belgorod" III degree, Medal "For Services to the Belgorod Land" I degree (2019), the Order of Friendship (2019).

Source - Strategic Research Institute

voda 13 mei 2021 14:44

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Salzgitter Reports Strong Results for Q1 of 2021

The Salzgitter Group achieved a pre-tax profit of EUR 117.3 million in the first quarter of the 2021 financial year. With a sustained market recovery and upward trend in steel prices, the positive results of the Strip Steel and Trading business units and the EUR 42.5 million contribution from the investment in Aurubis AG included at equity contributed to this. Almost all segments showed a continuous increase in their monthly results over the course of the quarter.

The external sales of the Salzgitter Group remained stable at EUR 2,094.1 million as compared to EUR 2,108.3 million in Q1 of 2020. Pre tax profit of EUR 117.3 million was generated as against minus EUR 31.4 million in Q1 of 2020. The EUR 76.6 million after-tax results are up from minus EUR 43.7 million in Q1 of 2020.

External sales by business unit

Strip Steel – EUR 606.4 million, up 7% YoY

Plate & Section Steel - EUR 214.4, up 10% YoY

Mannesmann - EUR 256.6 million, minus 13% YoY

Trading - EUR 673.3 million, minus 4% YoY

Technology - EUR 300.9 million, minus 3% YoY

Industrial Participations & Consolidation - EUR 42.5 million, up 12% YoY

Group - EUR 2,094.1 million, minus 1% YoY

Outlook - In view of the good start to the year and the dynamic rise in rolled steel prices, with an explicit reference to the still immanent risk of the corona pandemic, Salzgitter Group expects

1. A turnover increased to more than EUR 8.5 billion,

2. A pre-tax profit of between EUR 300-400 million

www.jungmann.de/wp-content/uploads/20...

Source - Strategic Research Institute

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