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voda 16 maart 2020 17:04

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New Danieli High-Speed Rolling Mill For Real Steel

Real Steel Corporation awarded Danieli the contract to supply a new high-speed rolling mill to produce deformed bars in the range of 10 to 32 mm-dia, starting from 150-mm square billets weighing up to 2,000 kg. The plant will be installed in Pampanga, San Simon province, Philippines, and with a finishing speed up to 48 meters per second onto the cooling bed for 10-mm-dia bars, it will be the fastest bar mill in Asia. This new rolling mill is comprised of 14-housingless stands followed by a 6-pass. multidrive high-speed twist-free finishing block.

An in-line quenching and self-tempering process will improve the mechanical properties of deformed bars, in particular the yield strength, aimed to reduce costs for micro-alloyed elements.

A single high-speed twin-channel system will discharge the bars on to the 102-meter-long cooling bed. The finishing area design is customized to fulfill the Philippine market, which is demanding in terms of various lengths and number of bars per bundles requirements.

The whole process will be fully controlled by Danieli Automation process control system.

Source : Strategic Research Institute

voda 16 maart 2020 17:05

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SpaceX to Change Stainless Steel Grade for Starship Rockets

SpaceX CEO Mr Elon Musk has announced that the company will be making some changes to its Starship rocket prototypes, including tweaking the material used in their construction. He said “We should be able to do better in the 2020s than they did in, like, the ’50s, you know? So, I think we’ll start switching away from 301 maybe in the next month or two.”

Mr Musk did not specify exactly what type of alloy the company will be using in future, though it seems likely that it will be a slightly different version of stainless steel.

The first prototypes of the Starship were constructed from a stainless steel alloy called 301.

Mr Musk has big plans for the Starship. The aim is to create a rocket capable of eventually carrying humans to Mars, with up to 100 passengers on board each flight. And earlier this week, Musk announced he intends for the new SpaceX factory in Boca Chica in Texas to produce one Starship rocket every 72 hours. That fast rate of Starship production will be required if Musk is to achieve his lofty goals of carrying hundreds or even thousands of people to Mars. The aim is for the Starship to be reusable in a fast, efficient manner, with each individual Starship capable of being launched up to three times per day.

Source : Strategic Research Institute

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voda 16 maart 2020 17:06

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The Materials Processing Institute Secures Funds for Sustainable Steel Programme

Chancellor Rishi Sunak has awarded GBP 22 million to a Teesside based The Materials Processing Institute to support a five-year sustainable steel and metal innovation programme. The Materials Processing Institute will focus on increasing productivity and transforming environmental sustainability, carrying out research on low carbon, electric and hydrogen based steelmaking. The programme will also work on the development and commercialisation of technologies in SME supply chains, such as robotics and artificial intelligence, as well as new technologies for the extraction and recycling of rare metals.

Additionally, the institute will provide support to the South Tees Development Corporation and the Tees Valley local industrial strategy.

The Institute has previously worked with global steel and materials groups, including Tata Steel, British Steel and Liberty Steel.

Source : Insider Media

voda 16 maart 2020 17:08

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Ameri-Precision Metals to Start Trial Production in Canonsburg

Pittusburgh Post Gazette reported that the Ameri-Precision Metals is close to starting up a facility in Washington County that will produce specialty strips used in saws, knives, blades and other applications. Ameri-Precision Metals has leased 250,000 square feet in an existing building on Curry Avenue, Canonsburg, owned by Pennsylvania Transformer Technology. Pennsylvania Transformer Technology chief executive Mr Ajay Goel said that most of the plant’s equipment has been installed at the site and 20 employees have been hired. He expects trial production runs to begin in April or May and said the plant could employ 100 people by the end of the year.

Mr Goel said that the first phase of startup represents an investment of about USD 22 million.

The cold-rolled and heat-treated high-carbon steel that the firm will manufacture is typically imported from Asian and European steel producers

Mr Goel also owns Ameri-Source Specialty Products, a Bethel Park company that makes graphite products.

Source : Pittisburg Post Gazette

voda 16 maart 2020 17:09

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Pakistani Steel Makers Oppose Subsidies to Tuwairqi Steel Mills

Pakistan Association of Large Steel Producers has raised their strong concerns with Prime Minister Imran Khan and other ministers for offering heavy government subsidies and special concessions to revive Tuwairqi Steel Mills without addressing concerns of the local steel industry. In a letter written to PM Imran Khan, Advisor to PM on Finance Dr Abdul Hafeez Shaikh and Advisor to PM on Commerce Abdul Razak Dawood, Wajid Bukhari Secretary General PALSP stated that while it is good to design policies that help revive industry and incentivize investment, we must see the pros and cons of each policy initiative as well as the cost and benefit analysis. They wrote “Our association is of the impression that this project is being pushed with great haste and by ignoring the tenets of meritocracy of the PTI Govt. We have already communicated our concerns on the subject project, and wish to reiterate and submit it again.”

They wrote “They stated that at full capacity, Tuwairqi Steel Mills would be getting a subsidy of almost PKR 13.2 billion per annum from the government including subsidy on gas and income tax exemptions. Tuwairqi’s product, DRI, would try and replace imported scrap but import substitution numbers would be negative i.e. major components of DRI manufacturing are RLNG and iron ore, which are both imported products. Moreover, import substitution will only be done partially because technology predominantly used in Pakistan for steel making can only process maximum 20% of gas based DRI, the balance will still have to be imported scrap. Given that many DRI exporting countries are those where gas prices are in the range of $ 2.5 and may even have iron ore available domestically, it doesn't seem that Tuwairqi Steels will be viable in the export market even after subsidized gas is available to them at USD 4.65 per MMTBU. Since DRI must be at least 15% cheaper than shredded scrap prices for it to make commercial sense to substitute, the maximum local buyers will be willing to pay currently for DRI is USD 260. Only subsidized gas price and iron ore pellets will cost Tuwairqi USD 220 according to current prices. Will they be able to cover all other costs and overhead in just USD 40? From the above it is clear that we will be giving perpetual gas subsidy to Tuwairqi and we will have to import RLNG to augment our demand of gas which doesn't make sense; therefore we should promote production of DRI and iron pallets through use of coal gas and iron ore.”

It is also proposed that in view of the shortage of local natural gas and the extremely high cost of RLNG, the Midrex plants can be converted into coal gas high, which is used to convert iron ore/iron ore pellets into DRI and then converted into steel. This technology is currently being put to work in many countries, same can be checked on Website/YouTube. Lastly, we are also attaching with this letter some of the clipping of reports appearing in the US media, about the key sponsor of this project, the letter concluded.

Source : The News

voda 16 maart 2020 17:10

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US DoC Reduces Anti Dumping Duty on Coated Steel Imports from South Korea

The US Department of Commerce has cut its antidumping duties on coated steel from Hyundai Steel, Dongkuk Steel and POSCO to to 2.43 percent, rejecting US steelmakers' claims that Korean steelmakers have enjoyed an indirect subsidy from the country's state run power distributor KEPCO. Of the three firms, Hyundai Steel was waived from the duty, while Dongkuk Steel, Dongbu Steel and POSCO both received 2.43 percent duties. This is a significant cut for Dongkuk, Dongbu and POSCO, given the firms faced a 7.33 percent antidumping duty in a previous decision in March last year.

The decision came after the Department of Commerce found Korea's electricity rate does not constitute a subsidy for steelmakers. The US has been investigating the Korean steel industry since July following US steelmakers' request on the suspicion that Korea's state-run power distributor KEPCO has indirectly supported Korean steelmakers by purchasing electricity at cheaper rates from its power generation units. US found that KEPCO purchased electricity at market prices, thus not justifying a countervailing duty.

Source : Strategic Research Institute

tempus fugit 17 maart 2020 12:09

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www.metaalnieuws.nl/blokkeert-coronav...

voda 17 maart 2020 16:20

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Indian Steel Consumption in April’19-January’20 Declines

India’s Union Minister of Steel Mr Dharmendra Pradhan informed Lok Sabha that the quantity of finished steel consumption in April 2019 – January 2020 has declined. He said “It is expected that at the current rate of GDP growth, the steel demand will grow around threefold to reach a demand of 230 million tonne by 2030-31 as projected in the National Steel Policy 2017. Government has brought Domestically Manufactured Iron & Steel Products Procurement Policy, Steel Scrap Policy, Steel Import Monitoring System alongwith Government’s push for better infrastructure such as railways, roads, Housing for All by 2022, piped water to every household etc. to enhance steel demand. To meet increasing demand, market mechanism will operate in the deregulated steel sector.”

Voor cijfers, zie pdf.

Source : Strategic Research Institut

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voda 17 maart 2020 16:21

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JSW Steel Misses Payment Deadline for BPSL

Business Line reorted that JSW Steel has decided not to make the payment of INR 19,700 crore to close the Bhushan Power and Steel without getting final nod from the Supreme Court as the deadline for paying the committed money to Committee of Creditors ended on Monday. The development had poured water on bankers plan to receive the money before March-end and shore up their profits given the current challenging business environment.

The National Company Law Appellate Tribunal had approved JSW Steel resolution plan on February 17 with the immunity from criminal proceedings being conducted by central investigating agencies on past-BPSL promoter Sanjay Singal and over riding the attachment of BPSL asset by investigating agencies.

Source : The Hindu Businessline

voda 17 maart 2020 16:22

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Salzgitter Denies talks with Thyssenkrupp - CEO

Reuters reported that German steelmaker Salzgitter is not discussing any partial or full merger scenarios with larger peer Thyssenkrupp but remains open to the idea of consolidation if it makes sense. Salzgitter CEO Heinz Joerg Fuhrmann told journalists “From my point of view consolidation is not a particularly great vision to create a new company. It is natural to regularly talk to peers and rivals, including the new leadership of Thyssenkrupp. But no tie-ups are being talked about, neither of individual segments nor the whole steel divisions. I reiterate that until this day it was good for Salzgitter to operate independently.”

Long-standing speculation about a merger or tie-up of Thyssenkrupp and Salzgitter, the country’s two largest steelmakers, was recently refuelled after new Thyssenkrupp CEO Martina Merz said consolidation in the sector made sense.

Source : Reuters

voda 17 maart 2020 16:34

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Tata Steel Allows Work from Home

Tata Steel has issued an advisory to its officials to work from home to avoid unnecessary gathering in the wake of the novel coronavirus threat. It said “All business and unit heads have been asked to avoid public transport and those who can work from home can do it if they wish to.”

It added “All employees with recent overseas visits, especially to countries like China, Hong Kong, South Korea, Japan, Italy, Thailand, Singapore, Iran, Malaysia, France, Spain and Germany in the last 14 days, have been advised to go on leave for 14 days from the date of their arrival with an intimation to their respective head of department and general manager medical services. Such employees are allowed to avail the work-from-home option according to the company guidelines. The company has also issued a travel advisory on suspension of all international and domestic business travel of employees.”

Suspension of overseas and domestic travel either by air, train or road has been enforced till further notice. Visitors have been barred entry to Tata Steel offices and plant.

Source : The Telegraph

voda 17 maart 2020 16:35

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Salzgitter Low CO2 Steelmaking Project SALCOS

German steel group Salzgitter expects to take a new hydrogen electrolyzer into operation at the end of 2020, which will cover requirements at its main steelmaking arm. It said “An essential cornerstone of our innovation activities consists of reducing the CO2 emissions of the integrated steel production at the Salzgitter site. Together with the Fraunhofer Society and other partners, we are expediting the SALCOS, Salzgitter Low CO2 Steelmaking project. The project’s engineering approach targets the direct avoidance of CO2 emissions in the production process itself by using hydrogen to gradually replace the carbon necessary for steel production based on iron ore. We are convinced that avoidance of CO2 emissions in steelmaking is a more sustainable and also energy-wise more sensible way compared to carbon capture and usage or carbon capture and storage. “

It added “Moreover, according to the latest scientific findings, SALCOS® offers the best combination of energy efficiency and CO2 reduction potential compared to other industrial concepts. A unique selling proposition consists of the innovative combination of the technologies available today and established in the industry that can therefore be implemented quickly from a technical standpoint as soon as the requisite framework conditions for sustainable operation have been set in place by policymakers and society. In the first stage of development implementable through to 2025, SALCOS could reduce the CO2 emissions from steel production at the Salzgitter location by around one quarter and, in the final stage of implementation through to 2050, by up to 95%.”

Source : Strategic Research Institute

voda 17 maart 2020 16:35

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NLMK Group Launches New Startup Portal

NLMK Group has launched NLMK.lab, a new internet platform, designed to attract partners for joint innovation projects. This platform offers a convenient channel for developers to reach out to end business customers, and hands-on peer-review of their project. The best solutions will be field-tested at NLMK Group's production sites around the world. NLMK offers its innovation partners a simple collaboration algorithm. Shortly after receiving the application form via the NLMK. lab website, NLMK experts will be in touch with the inventors to jointly evaluate the solution’s industrial applicability and potential. A pilot project will then be launched to test the effectiveness of the project and determine further scale-out and collaboration potential.

NLMK welcomes ideas aimed at improving the efficiency of existing production, repair and maintenance, logistics, energy, environmental, and other processes.

More than 250 startups have already been peer-reviewed by the Company, and more than 30 are being piloted.

Source : Strategic Research Institute

voda 17 maart 2020 16:36

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Salzgitter AG Reports Financial Year 2019 Results

Great political uncertainty, compounded by multiple trade conflicts and economic headwind, presented Salzgitter AG with special challenges in the past financial year. The gradual decline in rolled steel selling prices over the course of the year, accompanied by a temporary sharp increase in the cost of iron ore, a downturn in demand and a sustained high level of steel imports burdened the steel producing and processing companies in particular. In addition, EUR –396.0 million in burdens on the result from special items (2018: EUR –62.8 million) reduced the pre-tax result (EBT: EUR –253.3 million; 2018: EUR +347.3 million). EBT excluding special items comes in at EUR 142.7 million and was therefore in line with the original forecast of February 2019 (between EUR 125 million and EUR 175 million).

The Group’s external sales declined to EUR 8,547.3 million due above all to the drop in rolled steel selling prices and lower shipment volumes (2018: EUR 9,278.2 million). The pre-tax result includes EUR -62.3 million in restructuring expenses for implementing the “FitStructure 2.0” streamlining program and €–140.8 million in expenses for the mutually agreed end to the investigation conducted on the grounds of suspected cartel arrangements. Furthermore, the result includes impairment of €–192.9 million in the Strip Steel, Plate / Section Steel and Mannesmann business units, as well as at Salzgitter Automotive Engineering GmbH & Co.

Outlook - A multitude of economic and political uncertainties are likely to accompany us in the new year as well. The advent of coronavirus is yet another factor whose impact cannot be reliably estimated today. Starting from a currently low level, we have nevertheless been seeing stabilizing tendencies since the start of the year on the European steel market that should be reflected in rising results over the course of the year.

Source : Strategic Research Institute

voda 17 maart 2020 16:37

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GMS Market Commentary on Shipbreaking in Week 11 - Pandemic Paralysis

Last week, Indian subcontinent ship recycling markets went into yet another freefall, echoing sentiments across international stock markets, which have also tanked in response to the uncontrollable spread of the coronavirus, which has now been upgraded in status to a global pandemic. The focus on the spread of the virus has gradually shifted from China & the Far East, to Europe and now the USA, with borders being shut and entry denied to passengers from those countries with the highest number of infections - Italy in particular being hit the hardest. The global travel industry has naturally been hit the hardest, but the sheer panic that is now growing, is seeping through to the international stock and shipping markets, with perhaps the only beneficiaries being those involved in the oil storage markets. The feeling is that this may only be the start of a further worsening situation as the number of infections & deaths continue to grow exponentially by the day and increasingly drastic measures are being put in place by those countries that are now desperately trying to combat the disease. Ray of light however is that Far Eastern countries are now seeing a marked slowdown in newer cases. So this should give hope to those countries and markets that are only now starting to suffer at this time.

It may therefore be a quieter few weeks for the shipping, and certainly, the ship recycling markets, to see any sort of stability, particularly as much of Europe, Asia and now parts of USA remain under quarantine at home.

Those owners who are willing to face the far reduced rates of today on the backdrop of increasingly dire sentiments (virtually no End Buyers are willing to offer on any tonnage at present), maybe met with a guaranteed muted response.

Source : Strategic Research Institute

voda 17 maart 2020 16:39

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Canadian Parliament Ratifies USMCA Trade Pact

The Canadian Parliament has ratified new US Mexico-Canada trade pact on Friday. Canada was the last of the three signatories to formally adopt the pact, prompting congratulations from the United States and Mexico. The only remaining step is formal approval by the governor-general, the representative of Queen Elizabeth, Canada’s head of state, which is a formality.

The USMCA is designed to replace the North American Free Trade Agreement, which President Donald Trump strongly opposed on the grounds it had cost hundreds of thousands of American jobs.

Source : Strategic Research Institute

voda 17 maart 2020 16:39

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AISI Udate on Raw Steel Production in US in Week 11

AISI reported that in the week ending on March 14, 2020, domestic raw steel production was 1,878,000 net tons while the capability utilization rate was 80.5 percent. Production was 1,913,000 net tons in the week ending March 14, 2019 while the capability utilization then was 82.2 percent. The current week production represents a 1.8 percent decrease from the same period in the previous year. Production for the week ending March 14, 2020 is down 1.3 percent from the previous week ending March 7, 2020 when production was 1,903,000 net tons and the rate of capability utilization was 81.6 percent.

Adjusted year-to-date production through March 14, 2020 was 20,131,000 net tons, at a capability utilization rate of 81.7 percent. That is up 0.4 percent from the 20,055,000 net tons during the same period last year, when the capability utilization rate was 81.6 percent.

Broken down by districts, here's production for the week ending March 14, 2020 in thousands of net tons: North East: 225; Great Lakes: 689; Midwest: 202; Southern: 707 and Western: 55 for a total of 1878.

Source : Strategic Research Institute

voda 17 maart 2020 19:18

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ArcelorMittal Italy cuts steel output: Update
Published date: 17 March 2020

Luxembourg-based steelmaker ArcelorMittal has decided to temporarily reduce production and shut down several operations in Italy in response to the coronavirus outbreak, according to the union Fiom.

ArcelorMittal confirmed that production will be reduced at Taranto, with the workforce more than halved to around 3,800.

The shutdowns will include blast furnace number two, steelmaking shop one, hot-strip mill one and the cold-rolling mill, and will be implemented within the next week, with some shutdowns already in progress.

Following European carmakers' announcements over the past week about plant closures, Italian original equipment manufacturers have also decided to implement closures.

ArcelorMittal Italy decided on 13 March to reduce activities at its plant by 25pc. It told unions it planned to close the heavy plate mill, which was recently restarted, as well as some processing facilities.

"Fiom and Uilm have made additional specific requests to dramatically reduce the number of staff within the factory," Fiom said. Yesterday, the unions said an agreement had been signed with the government outlining safety measures, but that it was still up to individual companies to decide whether to stop or reduce activities. The unions previously asked for a halt until 25 March in order to sanitise plants.

It is unclear how long the shutdowns will last, as the coronavirus continues to spread across Europe. ArcelorMittal has also decided to postpone the restart of its Krakow blast furnace in Poland, which it had planned for mid-March.

By Lora Stoyanova

www.argusmedia.com/en/news/2087685-ar...

voda 17 maart 2020 19:20

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FINANCIALS MARCH 17, 2020 / 7:31 AM / UPDATED 12 HOURS AGO

ArcelorMittal, Nippon Steel sign $5.15 bln loan pact to refinance Essar Steel buy
1 MIN READ

TOKYO, March 17 (Reuters) - Japan’s biggest steelmaker Nippon Steel Corp said on Tuesday its joint venture with ArcelorMittal has signed a $5.15 billion loan agreement with Japanese banks, including Japan Bank for International Cooperation.

The 10-year-term loan would be used to refinance their acquisition of Essar Steel India, now known as ArcelorMittal Nippon Steel India Ltd.

Other banks part of the loan pact are MUFG Bank Ltd , Sumitomo Mitsui Banking Corp, Mizuho Bank Europe N.V. and Sumitomo Mitsui Trust Bank Ltd (London Branch), Nippon Steel said in a statement.

Last November, India’s Supreme Court cleared the path for ArcelorMittal to take over bankrupt Essar Steel, following a legal tussle that had dragged through multiple courts for over two years. (Reporting by Yuka Obayashi; Editing by Aditya Soni)

www.reuters.com/article/arcelormittal...

voda 18 maart 2020 07:49

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ArcelorMittal en Nippon Steel sluiten miljardenlening af

FONDS KOERS VERSCHIL VERSCHIL % BEURS
ArcelorMittal (NYSE)
$ 7,98 0,07 0,88 % NYSE

(ABM FN-Dow Jones) ArcelorMittal heeft voor zijn joint venture met Nippon Steel Corporations, AMNS India, een lening afgesloten ter waarde van ruim 5,1 miljard dollar. Dit maakte de in Amsterdam genoteerde staalreus woensdag bekend.

Het krediet werd afgesloten bij een groep Japanse banken.

De lening heeft een looptijd van tien jaar.

De opbrengst zal gebruikt worden om de leningen die werden aangegaan in verband met de overname van Arcelormittal Nippon steel India, voorheen bekend als Essar Steel India, volledig te herfinancieren.

Dit is inclusief de bedragen die zijn geleend voor de brugfinanciering waar ArcelorMittal garant voor stond.

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

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

Vertraagd	3 jun 2024 14:46
Koers	24,250
Verschil	+0,090 (+0,37%)
Hoog	24,610
Laag	24,200
Volume	1.337.323
Volume gemiddeld	2.623.475
Volume gisteren	6.882.105

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