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Tata Steel & Arti Steel Unit To Set Up Steel Scrap Recycling Plant At Rohtak

The Asian Age reported that Tata Steel has teamed up with Aarti Green Tech, a unit of the Ludiana-based Aarti Steels, to put up India's first scrap recycling plant in Rohtak, Haryana. The proposed plant with a capacity of 500,000 tonne per year will be built on Built Own Operate model with a total capital outlay of INR 150 crore. It is expected to commence commercial production in the second half of the current fiscal.

Mr TV Narendran, CEO & MD of Tata Steel, said "In preparing for the future, Tata Steel has set up a steel recycling business to meet the growing demand for steel in a sustainable manner in the long run. The steel recycling business will help formalise the scrap market in India and help the country transition to a scrap based steel making route in the long-term.”

Source : The Asian Age
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Formosa Ha Tinh Steel May Put Expansion Plans on Hold Due To Influx of Chinese Cheap Steel

The Epoch Times reported that a Vietnamese steelmaker Formosa Ha Tinh Steel recently expressed that its business could soon be hurt by an influx of cheap Chinese steel, as Chinese steelmakers try to dump excess capacity overseas, and that its production expansion plans, including a proposal to build another blast furnace, could be put on hold as a result of such market changes. FHS Chairman Mr Chen Yuan-cheng in an interview with Nikkei said “We will carefully examine the plan as uncertainties are growing over the outlook of the US China trade war. The final decision about the third furnace could be made by the end of the year after talking with the company’s three main shareholders and the Vietnamese government.”

FHS currently has two blast furnaces, which involves the process of smelting iron ore to produce crude iron, allowing the company to produce 7.1 million tonnes of crude steel per year. The planned construction of the third blast furnace would push its production capacity to 22.5 million tonnes per year.

Formosa Ha Tinh Steel, founded in 2008, is based in the Vung Ang Economic Zone in Vietnam’s central province of Ha Tinh. FHS’s biggest shareholder is Taiwanese plastics manufacturer Formosa Plastic, with over 70 percent shares, followed by Taiwan Steel with 20 percent, and Japanese JFE Steel with 4 percent.

Vietnam is one of these overseas markets targeted by China since the country is Southeast Asia’s biggest steel consumer. Contrary to the slowing Chinese economy, Vietnam’s economy has enjoyed strong growth in recent years, with average GDP growth of 6 to 7 percent. At the same time, the country’s steel consumption has increased from over 10 million tonnes in 2013 to over 22 million tonnes in 2018.

Source : The Epoch Times
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Pisbakken Staal?

Substandard Steel May Cause Building Collapse In Philippines - Experts

Business Mirror reported that the recent spate of earthquakes that jolted northwestern Japan, southern China, the Flores region in Indonesia and several Mindanao provinces, has authorities in the Philippine’s steel industry worried. The lingering fear is that thousands of high-rise buildings in the country built over the last 10 years using substandard, locally made steel bars may be in peril should a high intensity quake hit the country.

Former chairman of the Association of Structural Engineers of the Philippines Mr Emilio Morales has raised a worry in the face of recent quakes in the region ie the stability of locally manufactured steel bars for high-rise buildings. Mr Morales revealed that substandard construction materials, particularly reinforced steel bars, are still being used to build high-rise commercial buildings and residential condominiums in key business districts. He explained that “Being near the Pacific Ring is the main reason certain types of steel materials are not recommended for use in high-rise buildings in the country. Substandard construction materials, particularly rebars, would not withstand a 7.2 magnitude earthquake.”

Mr Morales added that big local steel manufacturers changed the steel bar manufacturing process some 12 years ago, without notifying the government or the public.

Mr Morales said China has started banning QT steels bars, with Taiwan banning these outright two years ago, despite inconclusive metallurgy test results undertaken on QT rebars. As a precaution, Taiwan government testers decided that QT steel are only strong on the outer layer due to quenching process.

Mr Morales claimed that the standards of testing steel in the Philippines are not as thorough a product that is made with grade 40 steel could pass as grade 60 because of QT coating.

A 6.8-magnitude earthquake jolted northwestern Japan last Tuesday prompting the Japan Meteorological Agency to issue a tsunami alert. Last Monday, a 6.0-magnitude quake hit Sichuan province in southern China, resulting in the collapse of a hotel in Changning country of Yibin City, southwest of the province, causing the death of 11 people and injury to another 122. Also last Monday, a 5.5 magnitude earthquake happened in Flores region in Indonesia, while six quakes struck in Mindanao, including the provinces of Agusan del Sur, Davao Occidental and Surigao del Sur. Two months ago, a 6.1 magnitude quake hit Luzon, swaying and destroying buildings in Metro Manila and leveling the four-story Chuzon supermarket, in Porac, Pampanga, killing 18 people and injuring 282. In the same month, several 6.1-magnitude quakes rocked Eastern Samar and Zambales.

Source : Business Mirror
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Tenaris Rebrands Saudi Steel Pipe As TenarisSaudiSteelPipes

Leading supplier of tubes and related services for the world’s energy industry and other industrial applications Tenaris announced that it will rebrand Saudi Steel Pipes, a welded pipe producer in the Kingdom of Saudi Arabia, to TenarisSaudiSteelPipes. Mr Mariano Armengol, MD & CEO of TenarisSaudiSteelPipes, said “The rebranding symbolizes the official integration of Saudi Steel Pipe with Tenaris, marking an important step in our commitment to further expand our footprint and capabilities in the Kingdom of Saudi Arabia. The new brand builds on the strengths and good reputation that both companies have built over time in the Kingdom.”

The decision follows the integration of SSP into the global commercial and industrial network of Tenaris, after the latter announced the closing of its acquisition of 47.79% of the shares in SSP on January 21, 2019.

TenarisSaudiSteelPipes facilities are located in the Eastern Province of the Kingdom of Saudi Arabia and have a manufacturing capacity of 500,000 tons per year. The company is qualified to supply products with major national oil companies in the region, including Saudi Aramco.

Source : Strategic Research Institute
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Companies Have Until June 30 To Make An Offer For British Steel

Grimsby Telegraph reported that the fate of British Steel could be decided in a week amid reports one of the key potential saviours is cooling its interest after failing to secure government support for a bid. Interested companies have until June 30 to make an offer for the company, which was placed into liquidation last month. It has been reported that around 12 firms have made tentative approaches, meaning the deadline could be extended in order to draft a takeover plan.

However The Guardian reports that Liberty House, considered among the most likely to takeover British Steel and whose interest was highlighted by ScunthorpeLive last month, have continued backing away from a bid. Initially it was reported that the Scunthorpe works didn't meet the 'greensteel' requirements of owner Sanjeev Gupta who was looking at a radical vision which would effectively turn the plant into a giant steel recycling centre. It wanted to convert British Steel’s blast furnaces into more cost-effective electric arc furnaces. However, this plan would require a major outlay, which would cost hundreds of millions to achieve.

The Guardian reported that “The source said there was a ‘lack of enthusiasm’ in government for the steps that would be required to convert the steelworks. Government officials are understood to be unwilling to provide loan guarantees or help retrain staff who might lose their jobs, although such measures are thought to fall within state aid rules.”

Other contenders to buy British Steel include India’s JSW, China’s Hesteel and an unidentified steel firm from Turkey.

Source : Grimsby Telegraph
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US Raises Anti-Dumping Duties On South Korean Hot-Rolled Steel Products

US Commerce Department has slightly raised anti-dumping duties on Korean-made hot-rolled steel products compared with its preliminary rulings, although the move isn't likely to have a significant impact on local steelmakers as overall US tariffs, including countervailing duties will go down significantly US government, following its first annual review, decided to impose a 10.11% and 5.44% anti dumping duties on POSCO and Hyundai Steel Co respectively.

In 2016, the US government originally set 4.61% and 9.49% anti-dumping duties on POSCO and Hyundai Steel, respectively. Those rates were adjusted to 7.67% and 3.95% in its preliminary decision made in November.

Despite slight hikes, overall US tariffs on South Korean steel goods went down. POSCO will get a 10.66% tariff on its hot-rolled steel products after the US slashed the CVD from 41.57% to 0.55% earlier this month. Hyundai Steel will face a 6.02% tariff after including 0.58% of CVD.

Source : Strategic Research Institute
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Jump In Indian Spot Iron Ore Cargo Volume - Mr Landsberg

Mr Jeffrey Landsberg, Managing Director, Commodore Research & Consultancy, said that Indian spot iron ore cargo volume has recently found a considerable amount of strength. 6 Indian spot iron ore cargoes surfaced in the market last week, which marks the largest amount seen since the Week Ending March 30, 2012. All of the cargoes will be exported to buyers in China, and all will be shipped on handymax vessels.

Overall, as Chinese iron ore port stockpiles have continued to plummet, China has begun to ramp up its purchases of imported iron ore. Spot iron ore prices are very high, and therefore various iron ore-rich countries, including India, also now have even more incentive to export iron ore. This development is a positive issue for the handymax market and also the entire dry bulk market at large. China remains poised to continue ramping up its iron ore imports. Imports will continue to come primarily from Australia and Brazil (and in fact, exports from Australia and Brazil are poised to continue to increase as this year progresses due to normal seasonality in Australian and Brazilian iron ore production), but other nations are also likely to increase their own iron ore exports to China as well.

Source : Strategic Research Institute
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GMS Market Commentary On Shipbreaking In India In Week 25 - DECLINE CONTINUES!

Following the euphoria that greeted Mr Modi’s re-election at the end of May, significant steel falls have rocked the market in Alang over the past few weeks, knocking as much as USD 20/LDT off plate prices. As a result, it has been difficult to solicit any firm numbers from Alang Buyers, who remain expectedly nervous of further declines and a lack of market stability. Monsoon weather (including the recent cyclone Vasu that hit last week) and the heat wave that has struck India of late, have slowed activities and cutting on the ground, which has likely added to the ongoing lack of demand, as product struggles to shift from local yards. As such, despite being the highest place ship recycling market in the world today, the coming weeks are not delivering much promise.

Meanwhile, sale of Bahri owned VLCC WATBAN (47,264 LDT) this week certainly surprised industry veterans. Reportedly committed at a massive USD 440/LDT basis an ‘as is’ Jeddah delivery, the 1250 Tons of HFO and 480 Tons of MGO included in the sale would certainly have driven the price higher. However, the reported levels are far above what even Indian end Buyers would be willing to pay at this time.

Will certainly be interesting to see if this unit will indeed make it to India (a strong possibility given that Alang Buyers are paying the highest at present) and whether the concerned Cash Buyer will be in the green on this deal.

Source : Strategic Research Institute
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Tees Valley Mayor Optimistic For British Steel Revival

The deadline for potential buyers of troubled British Steel is just days away as Tees Valley's Mayor confirmed that no redundancies are planned. Tees Valley Mayor Ben Houchen said that he had sought reassurances for local workers on a conference call on Monday with the Business Secretary Greg Clark and a number of other companies that are continuing the fight to save British Steel jobs. He said "The company remains operational thanks to a Government-backed indemnity. No redundancies have been announced, none are planned, and workers and apprentices are being paid by Government."

Mr Houchen said that "A big selling point to potential buyers is that the company's order book is exceptionally strong added, and that British Steel's excellent workforce are continuing to break production records.”

The steelmaker collapsed into administration a month ago, putting hundreds of Teesside workers and their families and thousands more in the supply chain at risk of losing their jobs. All bids by potential buyers need to be submitted to the Official Receiver by June 30.

Source : Strategic Research Institute
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Sintavia Announces Joint Venture With Howco Group

Leading metal additive manufacturer for the Aerospace & Defense industry Sintavia LLC announced that it had signed a term sheet to form a joint venture with Howco Group in support of the development of additive manufacturing within the Oil & Gas industry. The joint venture would be branded under the Howco Group name and be co-located at Howco’s North American headquarters in Houston, Texas. It is expected that the joint venture will commence operations later this year. Mr Brian Neff, Sintavia’s Chairman and Chief Executive Officer said that “Many of the proprietary additive manufacturing processes that Sintavia has developed for the Aerospace & Defense industry apply equally to the Oil & Gas industry. We are excited to work with Howco to deliver the economic and technical benefits of AM to our joint customers in the Oil & Gas industry.”

Howco, a wholly owned subsidiary of Sumitomo Corporation, is a leading global distributor of raw material and manufacturer of turnkey components for Downhole, Subsea and Surface equipment. The new joint venture will focus on material common to both the Aerospace & Defense and Oil & Gas industries, including nickel alloys and stainless steel. Additional terms of the joint venture were not disclosed.

Source : Strategic Research Institute
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Pakistan Steel Industry Cries Foul Over Unfriendly Budget

Pakistan Today reported that as the local steel industry was struggling to keep up with the regional competitors, the budget presented by the incumbent government would further hamper the already dwindling industry. Sharing how the budget proposals were unfriendly for the steel industry, officials at the Pakistan Association of Large Steel Producers claimed that some of the measures introduced in the next budget would add to the woes of the steel industry. They said that “Instead of facilitating & compensating the industry through remedial measures, the government has introduced certain measures that would not only cause revenue losses but would also result in the closure of steel units in the settled areas of the country.”

According to the PALSP officials, during the last six months or so, the local steel industry has witnessed a severe crisis with many units being closed down. They informed that “Some of the leading players, who, a year ago, were showing record performance and profits, are cutting their productions, and are going in big losses. A year ago, all those players who were planning to make huge investments for further expansions have put their projects on the hold.”

They said unless the government takes concrete measures to rescue the local industry, this situation would result in rapid de-industrialization and closure of the local industry.

The officials said that the steel industry, through budgetary proposals, had requested the government to remove customs as well as regulatory duty on the raw material.

It said that “However, the paltry relief provided by the government with the removal of 3% customs duty is too small and it is not going to provide any meaningful relief to the local steel industry.”

As per the official’s, the most pressing issue for the industry was the government’s decision to allow duty-free raw material/scrap for the industrial units located in FATA and PATA. “This is going to result in the closure of steel units in the settled areas, besides severely damaging the national exchequer,” they added.

The PALSP members recalled that in the recent past, a large amount of re-rollable scrap made its way into the Pakistan market due to faulty duty structure of the government.

Source : Pakistan Today
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AISI Update on Raw Steel Production in US IN Week 25

In the week ending on June 22, 2019, domestic raw steel production was 1,873,000 net tons while the capability utilization rate was 80.5%. Production was 1,815,000 net tons in the week ending June 22, 2018 while the capability utilization then was 77.4%. The current week production represents a 3.2% increase from the same period in the previous year. Production for the week ending June 22, 2019 is down 0.7% from the previous week ending June 15, 2019 when production was 1,887,000 net tons and the rate of capability utilization was 81.1%.

Adjusted year-to-date production through June 22, 2019 was 46,870,000 net tons, at a capability utilization rate of 81.5%. That is up 5.8% from the 44,288,000 net tons during the same period last year, when the capability utilization rate was 76.7%.

Broken down by districts, here's production for the week ending June 22, 2019 in thousands of net tons: North East: 219; Great Lakes: 708; Midwest: 205; Southern: 668 and Western: 73 for a total of 1873.

Source : Strategic Research Institute
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ArcelorMittal overweegt sluiting vestiging zuiden Italië - media

FONDS KOERS VERSCHIL VERSCHIL % BEURS
ArcelorMittal
16,182 0,472 3,00 % Euronext Amsterdam

(ABM FN-Dow Jones) ArcelorMittal zal mogelijk zijn vestiging in het Italiaanse Taranto sluiten als het zijn juridische garanties die dateren uit 2017 verliest en daarmee niet meer immuun is voor de milieuwetgeving. Dit schreef de Italiaanse krant La Repubblica woensdag waarbij deze zich baseerde op uitspraken van Geert-Maurice van Poelvoorde, die bij de staalreus verantwoordelijk is voor de staalplaatproductie in Italië.

Volgens ArcerlorMittal vervalt door het zogeheten Crescita-decreet de juridische garanties die in 2017 werden afgesproken tussen ArcelorMittal en de Italiaanse regering toen de staalfabrikant ermee instemde om in de fabriek in Taranto te investeren. Deze garanties zijn noodzakelijk totdat de ArcelorMittal het milieuplan heeft voltooid om te voorkomen dat het aansprakelijk wordt gesteld voor problemen die zij niet heeft veroorzaakt, aldus de staalfabrikant.

Arcelormittal is tot 6 september dit jaar immuun voor de milieuwetgeving. Als deze termijn niet wordt verlengd, dan zal de staalreus mogelijk besluiten de fabriek te sluiten, aldus La Repubblica. Volgens de krant wil de Italiaanse vicepremier Luigi Di Maio op 4 juli met ArcelorMittal aan tafel zitten om hierover te spreken.

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

© Copyright ABM Financial News B.V. All rights reserved.
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Safeguard Must Work To Impede The Unfair Steel Imports Into Europe - EUROFER

The European Steel Association hosted its annual conference, European Steel Day 2019: Transitioning to the Future of EU Industry to highlight the challenges the sector is currently facing. These include the very difficult situation of the industry, the EU steel safeguard, and the need to support innovation if the sector is to successfully decarbonise. Mr Geert Van Poelvoorde, President of EUROFER & CEO of Flat Arcelormittal, said “Today, our steel industry in Europe is at a critical juncture, facing a number of roads we could go down. At this moment in time, it’s not clear in which direction we will go, because we are facing a complexity of geopolitical, economic and environmental challenges. These challenges have the potential to erase the whole steel industry in Europe. On the other hand, these challenges bring us a great opportunity, if we can embrace change and use it to accelerate innovation. In 2018, there was a record 12% rise in European imports of finished steel products, in a market that grew only 3.3%. We are grateful that the European Commission recognised the problem and took action. However, the safeguard has failed in its objective for a large part of our industry.”

EUROFER believes that the safeguard must work to impede the unfair imports that are distorting the EU market. These imports are risking the survival of domestic producers. A dynamic sector emerging from a year of growth on its domestic market is being forced to cut jobs and production. 330,000 people are employed directly by Europe’s steel industry.

Source : Strategic Research Institute
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Primetals Technologies Develops Hydrogen Based DRI Process

Primetals Technologies announced that it has developed the world’s first direct reduction process for iron ore concentrates from ore beneficiation not requiring any preprocessing like sintering or pelletizing. Primetals can resort to the comprehensive experience from the earlier Finmet development and plant installations. The new technology can be applied to all types of beneficiated ore and particle sizes of 100% smaller than 0.15 mm. As primary reduction agent, the new process uses H2 from renewable energy or alternatively H2 rich gases from conventional steam reformers or H2 rich waste gases. This results in a low or even a zero CO2 footprint. The direct reduction plant comes in a modular design with a rated capacity of 250,000 tons per year and module, making it available for all sizes of steel plants. A pilot plant for testing purposes will be set up at voestalpine Stahl Donawitz, Austria and is due to be commissioned in the second quarter of 2020.

The pilot plant will consist of three parts: a preheating-oxidation unit, a gas treatment plant and the actual reduction unit. In the preheating-oxidation unit, fine ore concentrate is heated to approximately 900°C and fed to the reduction unit. The reduction gas H2 is supplied over the fence from a gas supplier. A waste heat recovery system from the off-gas ensures optimal energy use and a dry dedusting system takes care of dust emissions from the processes involved. The hot direct reduced iron leaves the reduction unit at a temperature of approx. 600 °C, which can be subsequently used in an electric arc furnace or to produce Hot Briquetted Iron.

The aim of the pilot plant is to verify the break-through process and to serve as a testing facility to provide the data basis for setting up an industrial scale size plant at a later date.

Source : Strategic Research Institute
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South Korean Court Orders Nippon Steel to Pay Wartime Victims

A South Korean appeals court has ordered Japan's Nippon Steel & Sumitomo Metal to compensate another group of South Korean victims of its wartime forced labor. The Seoul High Court on Wednesday upheld a 2015 lower-court ruling that ordered the company to pay 100 million won in reparations to each of seven forced labor victims.

The Japanese firm is involved in another compensation lawsuit that was finalized last October after the South Korean Supreme Court ordered it to pay 100 million won each to four forced labor victims. The company is refusing to follow through with the court decisions.

Source : KBS
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US Steel Kosice Places CRNGO Annealing and Coating Line Order To Tenova

The Slovakian company US Steel Košice placed a major order for the supply of an Annealing and Coating Line for dynamo steel strips to Tenova LOI Thermprocess. The plant bears the internal name Dynamo Line no 4 and will meet the highest requirements for the production of non grain oriented electrical steel. The contract scope includes the engineering, to a large extent the turnkey delivery of all equipment as well as the supervision of the assembly and commissioning including training.

The entire line is designed and delivered by Tenova. Tenova with its companies Tenova LOI Thermprocess and Tenova Italimpianti supplies the complete Annealing and Coating Line including heat treatment section of the plant, the entire strip handling and chemical processing with drying oven following the coil coating, the associated electrical, instrumentation and control technology including automation system.

Source : Strategic Research Institute
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Minyuan Group in Shandong Orders Rebar Mill From Danieli

Minyuan I&S Group in Shandong China has ordered from Danieli a new mill for 12 to 40 mm rebar, produced at up to 240 tph from a 165 mm, 2,300 Kg billet. The main equipment to be installed includes four SHS housing less stands followed by two four-pass finishing blocks. Through an advanced multi-strand slit-rolling system, rebars from 12 to 22 mm will be rolled on two strands at finishing speed higher than 40 mps. On-line water-cooling system will ensure a final product with ultrafine grain structure.

A double high-speed twin channel performing fast discharge of the bars on the cooling bed will complete the supply.

Source : Strategic Research Institute
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Vedanta’s Electro Steels Planning 4 Million Tonne Expansion

The Hindu reported that Mr Pankaj Malhan deputy CEO of ESL Vedanta Ltd said that is exploring options for an inorganic or organic route for expanding the capacity of Electro Steels Ltd by another four million tonnes within the next six years. He told “In five to six years, we plan to have a steel capacity of 10 million tonnes. While we are in talks with various state governments for a greenfield plant, we are also looking at inorganic expansion routes, our ambition is to be big.”

He said Vedanta wanted to become one of the top four steel players in the long term and eventually ESL, now known as a manufacturer of long products only, will also make flat steel products such as hot rolled coils, cold rolled sheets and galvanised products.

Mr Malhan added there could be some plans later on to rename ESL, without divulging details.

Vedanta, which got ESL in 2018 through the insolvency resolution process, had already announced a phased capacity expansion programme in ESL’s plant at Bokaro in Jharkhand to three million tonnes in two years from 1.5 million tonnes now and then to eight million tonnes annually.

Source : The Hindu
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Algoma CEO Update On Capital Improvements

SooToday reported that Mr Michael McQuade CEO of Algoma Steel Inc has released new details of his company's CAD 300 million in local capital improvements. Mr McQuade told the Sault Ste Marie Chamber of Commerce's 130th anniversary luncheon at the Marconi Event Centre that "I'm pleased to announce that we are in the midst of some momentous initiatives right now. The three main projects will take two years to complete at a cost of about CAD 300 million dollars. First off, we're building a second ladle metallurgy furnace. This is a steel refining facility where we use electromagnetic stirring to refine the chemistry and heat up the steel to the optimal temperature for casting.”

Mr McQuade said that "We currently only have one ladle-met furnace and it's become a significant bottleneck in our process. As we produce more advanced grades of steel, we need more advanced refining capacity and are unable to refine the advanced grades using our older traditional, chemical-refined facility. This new facility will deliver another 100,000 tons a year and greatly improve our ability to add more value-added grades. The project team is in place. Construction is underway.”

Algoma Steel's second cornerstone project is an upgrade to its flagship direct strip production complex. Mr McQuade said that "This is the facility where we go from liquid steel to a finished hot-roll coiled sheet in approximately 30 minutes. This complex is the only one of its kind in Canada and reflects the state-of-the-art technology that's being build around the world."

Source : SooToday
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Vertraagd 8 mei 2024 09:27
Koers 23,740
Verschil -0,230 (-0,96%)
Hoog 23,940
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Volume 156.127
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