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voda 17 juni 2019 15:56

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Labour Ministry Extends PUS Status To Iron And Steel Industry

Economic Times reported that labour ministry has extended the public utility service status to services engaged in the iron and steel industry under the Industrial Disputes Act, 1947. The government had earlier granted extension to the iron and steel industry for a period of six months, starting from December 20, 2018. This has now been extended for another six months with effect from June 20, 2019.

Llabour ministry said in a notification that “The central government hereby declares the services engaged in the iron and steel industry to be a public utility service for the purposes of the said Act for a period of six months with effect from the 20th June, 2019.”

In case of strike or lockout in respect of industries declared as public utility services, prior notice is compulsory either by employees or by management, respectively to the government.

Source : Economic Times

voda 17 juni 2019 15:57

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ArcelorMittal Developed Welding And Mechanical Joining Techniques For Advanced Steel And Multi Material Parts

The development of advanced high strength steels has presented OEMs with unique challenges when it comes to joining materials. With the advent of multi-material parts, these challenges are amplified. ArcelorMittal Global R&D is constantly working with carmakers and suppliers to identify the right joining techniques and technologies for AHSS. To mitigate these challenges, the weldability of new AHSS concepts is evaluated at R&D lab level in the This process begins in the early stages of AHSS grade’s development. All new AHSS concepts are first evaluated by Global R&D at the laboratory level to determine their weldability. This initial assessment allows ArcelorMittal to focus product development on grades that will be compatible with OEM processes (even if some adaptations may be required).

In a second stage, before the new product is launched on the market, a complete weldability validation is performed. If necessary, guidelines are modified to facilitate the use of the new material by our customers. Once the new steel grade is ready to be used by customers, additional support is offered to fine-tune the welding parameters.

ArcelorMittal recommends several available technologies to join AHSS to:

Another AHSS steel
Other materials including aluminum and composites
Emerging technologies are also providing new options for spot welding and mechanical joining.

Joining AHSS to AHSS
Resistance spot welding (RSW) remains the default choice for OEMs who wish to join parts made from AHSS. RSW is a mature process with an excellent cost/quality ratio. It is suitable for all of ArcelorMittal’s AHSS families including Fortiform®, Ductibor®, and Usibor®.

The most recent AHSS on the market are compatible with RSW, although some parameter adaptations are required. For example, different pulsed procedures are recommended when joining some types of AHSS.

While it is not uncommon to join three AHSS sheets with different thicknesses and physical properties. However, some extreme stack-ups may be difficult to weld due to differences in the physical properties of the grades utilized. Again, welding parameters should be optimized to ensure a stable welding process.
Source : Strategic Research InstituteArcelorMittal Developed Welding And Mechanical Joining Techniques For Advanced Steel And Multi Material Parts
Steel News - Published on Mon, 17 Jun 2019
Image Source: ArcelorMittal
The development of advanced high strength steels has presented OEMs with unique challenges when it comes to joining materials. With the advent of multi-material parts, these challenges are amplified. ArcelorMittal Global R&D is constantly working with carmakers and suppliers to identify the right joining techniques and technologies for AHSS. To mitigate these challenges, the weldability of new AHSS concepts is evaluated at R&D lab level in the This process begins in the early stages of AHSS grade’s development. All new AHSS concepts are first evaluated by Global R&D at the laboratory level to determine their weldability. This initial assessment allows ArcelorMittal to focus product development on grades that will be compatible with OEM processes (even if some adaptations may be required).

In a second stage, before the new product is launched on the market, a complete weldability validation is performed. If necessary, guidelines are modified to facilitate the use of the new material by our customers. Once the new steel grade is ready to be used by customers, additional support is offered to fine-tune the welding parameters.

ArcelorMittal recommends several available technologies to join AHSS to:

Another AHSS steel
Other materials including aluminum and composites
Emerging technologies are also providing new options for spot welding and mechanical joining.

Joining AHSS to AHSS
Resistance spot welding (RSW) remains the default choice for OEMs who wish to join parts made from AHSS. RSW is a mature process with an excellent cost/quality ratio. It is suitable for all of ArcelorMittal’s AHSS families including Fortiform®, Ductibor®, and Usibor®.

The most recent AHSS on the market are compatible with RSW, although some parameter adaptations are required. For example, different pulsed procedures are recommended when joining some types of AHSS.

While it is not uncommon to join three AHSS sheets with different thicknesses and physical properties. However, some extreme stack-ups may be difficult to weld due to differences in the physical properties of the grades utilized. Again, welding parameters should be optimized to ensure a stable welding process.

Source : Strategic Research Institute

voda 17 juni 2019 16:00

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Modifications To Coil Handling Software Improve Our Ability To Supply Customer Orders

Building an inventory of steel slabs provides us with more product available to ship to our customers. It means a shorter lead time and the ability to meet needs if customer demand spikes. We recognize that it's important to be a dependable supplier to our customers. So, we look for efficient ways to manage our inventory.

Mr Thomas Hoffner, manager, primary scheduling, ArcelorMittal Indiana Harbor said that "We call slabs which are not on orders unapplied slabs. They have little utility. They can't be rolled through the hot strip mill unless they are applied to an order. If we can drop the unapplied inventory, we save the plant money and improve our ability to supply our customers."

To move unapplied slabs to applied, Indiana Harbor worked with Global Research and Development in France to modify a computer software program they built for use by our plants in Europe. We call it Reaper.

Our European plants use Reaper to apply coils. Indiana Harbor needed it modified to address slab inventory.

ReaperA software program called Reaper helps planners at Indiana Harbor be strategic in how they apply slabs to reduce unapplied inventory and meet customer needs.

"We formed a team which included planning, quality and IT," said Hoffner. "Fabrice Olivetto and Gael Mathis from Global R&D in France helped us with the modifications."

The team identified several opportunities to enhance the Reaper system.

"We tested a version that was under development and began seeing results immediately. It provided more options to our slab applications and increased the rate of application. We dropped our unapplied inventory by nearly half in the first few months we used Reaper."

Reaper has proven to be a valuable tool which helps our schedulers be strategic in applications to fulfill orders, and our customers count on us to be a reliable source of materials to meet their needs. This sentiment directly ties to sustainable development outcome 7: supply chains that our customers trust, as the Reaper is enabling us to uphold strong supplier relationships.

Source : Strategic Research Institute

voda 17 juni 2019 16:06

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thyssenkrupp presents artificial intelligence alfred

thyssenkrupp Materials Services continues to drive digital transformation: Since early 2019 an artificial intelligence solution, supported by Microsoft’s cloud platform Azure, has been integrated into the processes of the largest materials distribution and service provider in the Western world. "alfred" supports his colleagues at Materials Services in dynamically managing the global logistics network with 271 warehouse sites and more than 150,000 products and services. As with his namesake Mr Alfred Krupp all information comes together at alfred. As a first step, alfred will help to optimize transport routes and thus save the transport of thousands of tons of material per year. In addition, materials will be available more quickly at the right locations in the future. In the medium term, Materials Services will be able to make all processes along the supply chain more flexible, for example, in order to better take into account specific customer requirements for delivery speed, pricing or material quality.

Mr Klaus Keysberg CEO of thyssenkrupp Materials Services, summarizes alfred’s strengths that "Artificial intelligence is one of the technologies that will make a decisive contribution to competitiveness in materials distribution in the future. With alfred we are taking an important step towards making our processes even more efficient and optimizing our value chain. At the same time, he gives us better insight into our customers' needs so that we can align our offerings accordingly. In the medium term, this holistic approach will also open up new business opportunities for us.”

Source : Strategic Research Institute

Bijlage:

voda 17 juni 2019 16:08

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Premal Desai new Chairman of the Executive Board of thyssenkrupp Steel Europe AG

Premal Desai becomes Chairman of the Executive Board of thyssenkrupp Steel Europe AG. In view of the cancellation of the joint venture, Mr Andreas Goss, 55 will resign from his position as Chief Executive Officer by mutual agreement as of June 15th 2019. Desai has been Chief Financial Officer of thyssenkrupp Steel Europe AG since 2015 and was previously Head of Strategy at thyssenkrupp AG.

In addition to Mr Andreas Goss, Mr Heribert Fischer 57 will also leave the Steel Board on June 15. Fischer will, however, remain with thyssenkrupp Steel Europe AG in an advisory capacity at the request of the company.

Mr Bernhard Osburg 50, currently responsible for sales management in the Steel segment, will join the Executive Board of thyssenkrupp Steel Europe AG as Chief Commercial Officer. In this function, he will be responsible for all sales and innovation activities in the steel business.

The future Steel Executive Board will thus consist of only four members. Aside from Desai and Osburg, the Executive Board of thyssenkrupp Steel Europe AG will continue to include Dr. Arnd Köfler, responsible for production, and Dr. Sabine Maaßen, responsible for personnel and social policy. The responsibilities of the smaller Management Board will be realigned. In the future, Premal Desai will take over the strategy and planning function as well as the financial function and will lead the Management Board.

Mr Guido Kerkhoff, CEO of thyssenkrupp AG said that "We are pleased that we have appointed a new steel board member from our own ranks. Our steel business is facing major challenges. We have now put together a strong team that will tackle the tasks at hand quickly and develop a sustainable strategy for steel following the cancellation of the joint venture".

Mr Premal Desai future CEO of thyssenkrupp Steel Europe AG: "Shaping the future of steel is a challenging task. There's a lot to do. We look forward to tackling this together as management team. The market environment is not easy, but we are in a strong position and have a lot of potential. We'll build on that."

Source : Strategic Research Institute

Bijlage:

voda 17 juni 2019 16:11

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NLMK Group gets Digital Workplace Award 2019

NLMK Group a global steel company, has won a Silver award at the international Step Two Intranet and Digital Workplace Awards 2019 for the launch of its Intranet portal which extends to all employees, promotes automation of business processes and enhances personnel engagement. The jury honoured the main achievement of the NLMK project: the company managed to reduce the digital divide between office and production staff. Only those employees who had a computer could access the Intranet before the launch of the new Bitrix24-powered corporate portal in 2018, which removed this barrier.

Thanks to the adaptive design all portal services are accessible 24/7 and not only via computers, but also via personal mobile devices. New users are authorized by SMS.

Now all employees of NLMK Group's Russian companies can use online HR services, learn news, and exchange ideas, knowledge and professional experience in their corporate social network. Today 90% of NLMK Group's employees use the Intranet regularly.

The jury of the Step Two Intranet and Digital Workplace Awards belives that NLMK's experience of extending its social intranet to frontline staff may be of good use to many other global industries.

The Step Two Intranet and Digital Workplace Awards is aimed at uncovering best companies that have expertise in establishing digital processes. The awards’ jury consists of international experts in intranets and digital technologies. Now in their 13th year, 136 trophies were handed out to winners from 16 countries. The award ceremony will take place in London on 17 June 2019.

Source : Strategic Research Institute

voda 17 juni 2019 16:12

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US Trade Court Rejects Duty Rate on Chinese Steel Nails

The Commerce Department must once again revisit, and possibly lower, the hefty antidumping duty rate it applied to certain imports of steel nails from China, a federal court ruled June 12. Commerce conducted a periodic duty review of Chinese nail imports that entered the US between August 2013 and July 2014. It hit Shandong Oriental Cherry Hardware Group Co and its affiliates with a 118.04% duty rate. This drew legal challenges from Shandong as well as US importer National Nail.

Source : Strategic Research Institute

voda 17 juni 2019 16:13

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Labour Ministry Extends PUS Status To Iron And Steel Industry

Economic Times reported that labour ministry has extended the public utility service status to services engaged in the iron and steel industry under the Industrial Disputes Act, 1947. The government had earlier granted extension to the iron and steel industry for a period of six months, starting from December 20, 2018. This has now been extended for another six months with effect from June 20, 2019.

Llabour ministry said in a notification that “The central government hereby declares the services engaged in the iron and steel industry to be a public utility service for the purposes of the said Act for a period of six months with effect from the 20th June, 2019.”

In case of strike or lockout in respect of industries declared as public utility services, prior notice is compulsory either by employees or by management, respectively to the government.

Source : Economic Times

Archie Steelman 17 juni 2019 16:15

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Ik ben heel blij met al dit nieuws om hiermee goed mijn strategie te kunnen bepalen
many thanks Hans

Eduard de Wit 17 juni 2019 16:23

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quote:
Archie Steelman schreef op 17 juni 2019 16:15:
Ik ben heel blij met al dit nieuws om hiermee goed mijn strategie te kunnen bepalen
many thanks Hans

Archie, met alle respect, hoeveel info je ook vergaard, de koers kan niemand voorspellen, was het maar zo simpel.

Succes!

[verwijderd] 17 juni 2019 18:15

0

quote:
Eduard de Wit schreef op 17 juni 2019 16:23:
[...]

Archie, met alle respect, hoeveel info je ook vergaard, de koers kan niemand voorspellen, was het maar zo simpel.

Succes!

Zo is dat, als particuliertje op de aandelenmarkt met een aandeel als arcelor mittal stap je in wezen in een achtbaan. Het kan alle kanten op.

Voda je bijdrag worden erg gewaardeerd !

voda 18 juni 2019 12:45

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'Staalsector onder druk door Steel Dynamics''

Gepubliceerd op 18 jun 2019 om 09:37 | Views: 1.735

ArcelorMittal 12:26
14,52 +0,15 (+1,04%)

AMSTERDAM (AFN/BLOOMBERG) - De Europese staalbedrijven kampen met de naweeën van de winstwaarschuwing van het Amerikaanse Steel Dynamics. Dat staalbedrijf zei in het tweede kwartaal niet aan de verwachtingen te hebben voldaan door lagere marges. Daarbovenop komen ook de mindere verwachtingen waar branchegenoot Nucor mee op de proppen kwam. Volgens Morgan Stanley zal dit alles de prestaties van staalbedrijven onder druk zetten.

De analisten wijzen onder meer op de impact voor het in Amsterdam genoteerde ArcelorMittal. Ze wijzen er op dat Arcelor qua bedrijfsresultaat voor bijna een kwart afhankelijk is van zijn activiteiten in de VS.

Het aandeel Arcelor noteerde dinsdag omstreeks 09.20 uur 1,3 procent lager op 14,19 euro.

voda 18 juni 2019 15:19

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Tangshan Summons Executives From 48 Firms Over Air Pollution

Reuters reported that China’s top steelmaking city of Tangshan in Hebei Province has summoned executives from 48 regional companies with high pollution emissions to a meeting and ordered them to trim output to reduce the smog. The companies in the steel, cement and coke industries were criticised by the city government of failing to implement anti-pollution measures and to bring down toxic emissions. The companies included Tangsteel, a subsidiary of HBIS Group. Tangshan government statement said “Companies that were summoned to the meeting vowed to resolutely comply to production restrictions set by the city government and cut output to the utmost extent in order to drastically reduce pollutant emission.”

The meeting came after China’s environment ministry last week summoned the mayors of six northern Chinese cities, including Baoding and Langfang in Hebei province where Tangshan is located, that failed to meet winter smog-cutting targets

Tangshan city has extended output curbs on heavy industry to the end of June, with steel mills ordered to cut sintering operations by as much as 50%. Despite the extended production restrictions, Tangshan in April still ranked fourth from the bottom of 169 monitored key cities nationwide in terms of air quality. In May, among the 11 cities in Hebei, Tangshan had the worst air quality level, with average concentrations of particulate matter PM2.5 at 43 micrograms per cubic metre. The average PM2.5 reading in Hebei in May was 32 micrograms per cubic metre.

Source : Reuters

voda 18 juni 2019 15:20

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China Steel Demand More Robust Than Imagined - Mr TV Narendran Tata Steel

Mr TV Narendran, CEO & MD of Tata Steel in an interview with ETNOW while answering to “Do you believe that the rise in iron ore prices will compress Chinese steel margins and cause some mills to go out of operations?” said “The demand in China has been more robust than we had imagined. If we look at the last four months, both the demand and production in China have been in the 9% to 10% range which is very surprising for country which consumes more than 900 million tonnes of steel or about 900 million tonnes of steel so it has been much better than we had imagined. Obviously, a lot of actions are being taken in China domestically to counter the impact of the trade actions by the Trump administration and that is probably getting reflected in greater consumption that we had anticipated. We normally look for how much steel China is exporting. Despite their production going up 10%, because their consumption has also gone up by about 10%, the exports stayed stable at around 5 million tonnes a month which to me is a level the world can live with because even before 2015, China was exporting about 4 to 5 million tonnes a month. The problems happened in 2015 when they exports doubled to 10 million tonnes a month. We still have that 5 million level. The minute it crosses 5 and goes to 6 million tonne, the world should certainly get concerned that it could happen if China slows down more than it has today.”

He said “I hope some of the issues between the US and China would get sorted out in the next few months and the sentiment turn with more positive. A larger concern in Southeast Asia was export from Turkey. But the US is reducing port duties for steel from Turkey from 50% to 25% and so we expect some of the steel from Turkey will flow back to the US. We are basically looking at Turkey, we are looking at the CIS countries and of course Korea, Japan and China because these are the five big exporting countries and Southeast Asia is a region where everyone tries to sell steel into and of course India is a attractive market as well.”

Source : ET

voda 18 juni 2019 15:21

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Indian Steel Industry Calls For Abolishing Import Duty On Coking Coal

Business Standard reported that iron ore and steel industry has urged the government to abolish import duty and GST compensation cess on coking coal. An industry source said that “Since 2016, international coking coal prices have been highly volatile. Prices have zoomed 140% since April 2016 whereas the corresponding rise in pig iron prices is only 46%. Coking coal has no substitute in steel making. Import duty of 2.5% and GST compensation cess of INR 400 per tonne is piling up burden for the producers.”

India doesn’t have good quality coking coal deposits, leading pig iron and steel manufacturers to lean heavily on imports. At the end of this financial year, the country’s coking coal imports are pegged at 49.1 million tonnes this corresponds to a share of 78%of domestic consumption.

Source : Business Standard

voda 18 juni 2019 15:21

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Tokyo Steel Cuts Steel Prices For July Sales To Curb Cheaper Imports

Japan's largest EAF based steel maker Tokyo Steel Manufacturing announced that it will cut its finished product prices for July contract by JPY 3,000-5,000 per tonne (USD 28-46), which is the first time the mill has reduced its prices since October 2016, to adjust its list prices such that they are in line with actual market prices. Its list price for SS400 senior-sized H-beams will be cut by JPY 4,000 to JPY 85,000, while the price for SPHC 1.7-22mm hot-rolled coil will be cut by JPY 5,000 to JPY 69,000 Tokyo Steel's MD Mr Kiyoshi Imamura said "Demand for steel products from overseas and domestic markets are basically firm, but customers are monitoring the movement because the impact from the US-China trade dispute on the steel market is unclear. This movement is leading the fall in overall steel product prices.”

He also said overseas suppliers are increasing their export offers to Japan because their currencies are weakening. He said "lower priced offers by overseas suppliers are also weakening prices in Japan, so we decided to cut our prices and try to stop customers from booking imported materials.”

Source : S&P Global Platts

voda 18 juni 2019 15:22

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Steel Demand in India Depends Largely On Infra Spend - Mr TV Narendran of Tata Steel

Mr TV Narendran, CEO & MD of Tata Steel, in an interview with ETNOW while answering to “Domestic steel demand is expected to stay strong but this is mainly due to government’s infra spends because capex commitment from the private sector is certainly sluggish. Would that really worry you?” said that “The government infrastructure spend is important in multiple ways. 60% of steel is consumed by the construction industry and about 25% to 30% of the steel consumption in construction comes from infra spend. When the government spends on infrastructure, it stimulates construction activity. The spend on infrastructure also works well for the auto industry because a lot of automobiles are used, whether it is heavy vehicles, commercial vehicles, material handling equipment and so on. It also stimulates the auto industry which consumes stimulates the auto industry which consumes another 10-15% of the steel in the country.”

He said “The second part is it leads to greater efficiencies and lower costs, which hopefully helps the profitability of the private sector and for the private sector investments to come back, not only do we need demand, we also need profitable private sector companies because profitability gives you surplus funds to invest. In today’s scenario, when the cost of capital is quite high and liquidity is a bit tight, lenders are careful about who they lend to.”

He said “It is important for companies to have strong balance sheets and good profitability so that they have surplus cash flows and funds available to invest. In many ways, these are interdependent. I do not think one can act without the other. The starting point would be the government spending and private sector investments will surely follow.”

He added “India has traditionally been a consumption led economy and that is reflected in the fact that the steel consumption is traditionally grown below the GDP growth rate. In most developing countries, steel consumption is 1.2-13 times the GDP growth rate. Because India has largely been consumption led, over the last few years, we have started becoming more investment led both from the government side and hopefully that will lead to private investments coming into the system and that will help us. So that adjustment is being made. There will be a recalibration of the economy as we become more investment led growth which I think is good for a developing country as long as we keep the fiscal deficit under control.”

Source : ET

voda 18 juni 2019 15:23

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BlueScope Market Update on Earnings & Buy Back Extension

BlueScope announced that it now expects FY2019 underlying EBIT approaching AUD 1,350 million, which is an increase of approximately 6 per cent on FY2018 and implies 2H FY2019 underlying EBIT approaching AUD 500 million. This compares to prior guidance of around a 10 per cent increase on FY2018. The key changes since prior guidance, provided in February, are

North Star: sales volume and operating performance remain strong, however benchmark steel spreads' across the half year are now expected to be approximately USD 150 per tonne lower than 1H FY2019, compared to a previous expectation of a USD 130 tonne decline.

Building Products Asia and North America: good progress is being made on the cost reduction and manufacturing improvement program however market conditions, particularly in ASEAN and North America, have been softer than anticipated.

Buildings North America: general market conditions and order intake remain positive however despatch volumes and margins continue to be impacted by longer customer lead times relative to prior expectations.

Other businesses are performing generally in-line with the expectations set out in the February guidance - with Australian Steel Products seeing stronger realised steel spreads offset by weaker than expected domestic volumes.

Update on North Star expansion opportunity
BlueScope's evaluation of the opportunity to add a further 800,000 to 900,000 tonnes per annum of capacity to its North Star mini-mill in Ohio, US, is progressing well. BlueScope has commenced detailed design and engineering and critical path items, costing USD 50 million.

Extension of buy-back program
The business continues to generate strong cash flow. In light of this, and with the AUD 250 million on-market buyback program announced in December 2018 nearing completion, BlueScope announced that it will extend the current on-market buy-back program by a further amount of up to AUD 250 million, as part of its 1H FY2020 capital management program.

The Company expects to continue share buy-back activity, at its discretion, during July 2019 and then after the release of its FY2019 financial results on 19 August 2019.

Managing Director and Chief Executive Officer, Mr Mark Vassella, said "With the transformed business continuing to generate strong cash flow, we are able to pursue a mix of returns to shareholders and investing for future growth. We remain committed to our clearly stated financial principles and disciplined approach to capital allocation. Naturally we will always invest to maintain safe and reliable operations, and seek to retain strong credit metrics."

Source : Strategic Research Institute

voda 18 juni 2019 15:24

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ArcelorMittal South Africa Facing Environmental Contravention Charges

Financial Express reported that ArcelorMittal South Africa is facing charges of contravening environmental pollution laws amid growing concern about the impact on the population of an entire town where the company runs its major operations. AMSA’s environmental manager Mr Johan Hattingh has been summoned to appear in the Vanderbijlpark Regional Court on June 26 on the criminal charges of having violated the South African Air Quality Act. Mr Albi Modise, the spokesperson for the Department of Environmental Affairs, said that “The criminal investigation followed ongoing non-compliances detected at the Vanderbijlpark facility during an inspection undertaken by environmental management inspectors from the department and the provincial Department of Agriculture and Rural Development. Over the years the authorities have been monitoring compliance within the Ferro Alloy Iron and Steel sector. Three prior inspections had been undertaken at this facility, in November 2008, October 2012 and August 2014, followed by a number of enforcement interventions.” Mr Modise claimed that AMSA had been given more than a decade to bring about the required changes for legal compliance. The area was declared a priority in 2006 and is one of three priority areas identified nationally in terms of the National Environmental Management Air Quality Act due to concerns about elevated pollution.”

AMSA faces a fine of up to 15 million South African Rands or imprisonment for the responsible persons if found guilty.

AMSA has also come under pressure from community activists in Vanderbijlpark and surrounding areas who have alleged that the residents have been affected by not just air pollution, but also water and land pollution from the largest steel manufacturer in South Africa.

Vanderbijlpark is a town established by the former state-owned steel enterprise Iscor, with almost its entire population now dependent on AMSA, established almost two decades ago after Mittal first helped bail out the ailing company and then took it over.

Source : Financial Express

voda 18 juni 2019 15:25

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Indian Pellet Manufacturers Seek Higher Duty On Iron Ore Exports - PMAI

Business Line reported that Pellet Manufacturers’ Association has written to the Prime Minister’s Office seeking an increase in export duty on iron ore from 30% to 50%. The request is for a higher duty on all iron ore that has more than 58% iron. The letter from PMAI said that “To realize the nation’s vision of 300 million tonnes steel capacity by 2030-31, adequate availability of iron ore of suitable grade at suitable prices would be crucial to meet the requirement of 236 million tonnes per annum iron ore (with 62 to 65% iron) by 2020 and 480 million tonnes per annum by 2030.”

The association said there had been a multi-fold increase in iron ore exports in the last few years in spite of the 30% duty in place. This is because production costs in India are low and exports are lucrative at present prices despite the duty.
Iron ore with less than 62 per cent iron content is used for pellet manufacturing. India has 85 million tonnes of pellets and 115 million tonnes of beneficiation capacity, bulk of which is idling for want of iron ore at reasonable price.

Source : Business Line

Vertraagd	26 apr 2024 17:37
Koers	23,750
Verschil	+0,210 (+0,89%)
Hoog	24,080
Laag	23,700
Volume	2.295.626
Volume gemiddeld	2.493.843
Volume gisteren	2.802.569

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