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voda 24 juni 2020 15:09

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India Imposes Anti-Dumping Duty on Coated Steel Imports from China, Vietnam, South Korea

Indian government on June 23rd 2020 has imposed provisional anti-dumping duty ranging USD 13.07 to USD 173.10 per tonne on imports of flat-rolled product of steel, plated or coated with alloy of aluminium or zinc originating in or exported from China, South Korea & Vietnam forfor a period of 5 yrs from date of imposition that is 15th Oct, 2019. The said anti-dumping duty shall not be levied for the period commencing from the date of the lapse of the provisional anti-dumping duty that is the 15th April, 2020 up to the preceding day of the publication of this notification in the Official Gazette.

Product Flat rolled product of steel plated or and coated with alloy of Aluminum and Zinc (this alloy of Aluminum and Zinc may contain one or more additional elements which in individual or in combination shall not exceed 3% by weight.)
The subject goods do not include
Flat rolled steel products coated with Zinc without addition of Aluminium
Flat rolled steel products coated with Aluminium without addition of Zinc
Pre-painted or colour coated Aluminium Zinc alloy coated steel sheets

Source : Strategic Research Institute

voda 24 juni 2020 15:10

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Industry Bodies Pitch for JSW Steel in Bellary

According to Hindu Business Line report on June 22, JSW Steel has extended the work from home option to over 50 per cent of its workforce. It has set up a fever centre within the steel plant premises to check and detect early symptoms of influenza like illness or severe acute respiratory infection, besides converting its two hospitals for Covid treatment. The company has converted its Jindal Sanjeevani Multi-Specialty Hospital into full-fledged Covid care hospital and offered to convert its OP Jindal Vocational Training Centre into a Covid centre. Currently, the training centre is an isolation centre for suspected Covid cases. Local industry groupings have come out in support of the company. The Karnataka Iron and Steel Manufacturers Association has written to the Karnaka government to keep running the JSW Steel’s plant in Ballari district. KISMA secretary Mr Ramana Kumar “It is important for local industry members and administration to jointly ensure that the local steel industry continues to function with adequate safeguards in the interest of the large number of people who depend on it for their livelihoods.”

Ballari District Chamber of Commerce & Industry president V Ravi Kumar had earlier written to Karnataka government that “The call for stopping JSW because of the Covid-19 is very unfortunate. Where will the revenue to the state, the development of the region, and employment for the youth come from if large industries are stopped? Who will give employment?”

According to Hindu Business Line report on June 22, there were 244 cases of Covid-19 at the Ballari plant last week, up from 106 cases on June 6. As per local media reports, in last few days COVID cases in JSW Bellary has trickled down to single digit cases.

Source : Strategic Research Institute

voda 24 juni 2020 15:10

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Emirates Steel to Source Steel Scrap Locally

Emirates Steel, which uses direct reduced iron and ferrous scrap as the main feedstock for its electric arc furnaces, announced that it will be supporting local manufacturing by purchasing scrap material for use as feed stock in its production process. It said “Emirates Steel is committed along with other steel producers to purchase all local scrap according to international prices. It will amount to more than 1 million tonnes of scrap material on annual basis.

The announcement follows a recent decision by the Ministry of Economy to prohibit all concerned and registered facilities in the UAE from exporting iron scrap.

Source : Strategic Research Institute

voda 24 juni 2020 15:18

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British Government Project Birch likely to support Tata Steel UK – FT

Financial Times reported that a rescue deal for Tata Steel UK is set to be agreed with the government within days, helping preserve about 8,000. The impending state loan worth hundreds of millions of pounds for Tata Steel’s UK operations is due to be the first major transaction under the government’s Project Birch. Chancellor Rishi Sunak authorised the project during the pandemic as a means of rescuing strategically important companies through bespoke funding arrangements. Tata Steel, which is controlled by the eponymous Indian conglomerate, is expected to sign up to various commitments to its 8,000 strong UK workforce and to cut carbon emissions in return for the state loan.

Businesses need to have exhausted all other possibilities, including the government’s emergency Covid-19 loan schemes, from which some companies, including Tata Steel, have struggled to secure debt.

Source : Strategic Research Institute

voda 24 juni 2020 15:19

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Neometal Confirms Potential for Low Cost Vanadium Recovery Project

Project developer Neometals Ltd announced the completion of a Scoping Study on the recovery of vanadium pentoxide from high-grade vanadium-bearing steel by-product slag. Neometals is extremely encouraged by the outcomes of the Study highlighted by potentially robust economic margins with a first quartile position on the operating cost curve. The Study supports Neometals' strategy to pivot towards more sustainable materials recovery and recycling projects to compliment upstream mineral resource activities. Given the positive results from the Study, Neometals will fund the next stage of evaluation studies, comprising completion of continuous lab-scale metallurgical test-work before commencing a Class 4 American Association of Cost Engineering engineering cost study culminating in a Preliminary Feasibility Study.

Neometals has the option, subject to funding certain evaluation studies, to enter in a 50:50 joint venture with unlisted Scandinavian mineral development company Critical Metals Ltd. The parties will jointly evaluate the feasibility of constructing a facility to process and recover high-grade vanadium products from vanadium-bearing steel making by-product in Scandinavia. Critical has executed a conditional supply agreement with subsidiaries of SSAB, a steel producer that operates steel mills in Scandinavia, to acquire slag produced as a by-product at SSAB's operations. Critical will advance site selection studies, approvals and managing the SSAB relationship.

Neometals has developed a proprietary processing method to recover vanadium from steel slags. This hydrometallurgical process utilises conventional equipment and operates at atmospheric pressure and mild temperatures. Metallurgical test work to optimise the flowsheet is underway in Perth, and subject to meeting ongoing milestones, is planned to be piloted as part of ongoing studies.

Source : Strategic Research Institute

voda 24 juni 2020 15:19

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North Star Bluescope Steel Relies on Danieli Centro Cranes

After having awarded a first contract for the supply of two EOT charging cranes in June 2019, which are currently under manufacturing, North Star BlueScope Steel relied again on Danieli Centro Cranes for the supply of two EOT scrap-charging cranes for its new meltshop in Delta in Ohio in USA. With a capacity of 40-shton, Class E according to CMAA-70 standards, the two scrap-charging cranes will be designed and manufactured in Danieli Thailand workshops. There they will be fully assembled and functionally tested in all their movements with trolley operating on the bridge, before shipping.

Both EOT and scrap-charging cranes will be equipped with an energy-regenerative system which recovers the braking energy of all movements, and with a movable operator cabin.

The scrap-charging cranes will be fully commissioned by February 2021.

Source : Strategic Research Institute

voda 24 juni 2020 15:20

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TMK Tagmet Produces 5 Millionth Tonne of Pipes in Continuous PQF Mill From SMS Group

At the end of May, Tagmet, based in Taganrog, Russia, and part of TMK`s Pipe Metallurgical Company, produced the five millionth ton of pipes on the Premium Quality Finishing seamless pipe mill supplied by SMS group. This milestone batch of line pipes for the oil industryof 168 millimeters diameter and 18 millimeters wall thickness was produced using continuously cast billets from a steel plant that was also supplied by SMS group. Commissioned in 2008, the continuous PQF mill at Tagmet was the first pipe rolling mill in Russia to use the latest PQF technology for the production of seamless steel pipes for the oil and gas industry. With six thousand employees, Tagmet is today one of the leading companies in the pipe industry, both nationally and internationally. The mill produces basically all types of seamless steel pipes within the dimensional range of 73 to 273 millimeters, including high-strength pipes with special material properties to meet the ever-growing demands of the market.

Over the years, trustful cooperation between Tagmet and SMS group has led to the continuous further development of the technology in the PQF® seamless pipe mill. Renewed proof of this cooperation is the latest order placed by TMK for the supply of a newly developed mandrel thrust block for the cone-type piercing mill. The thrust block is currently being assembled in the SMS group workshop in Germany.

Source : Strategic Research Institute

voda 24 juni 2020 15:20

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Mr Kevin Dempsey Named as Interim CEO of AISI

The American Iron and Steel Institute Board of Directors have elected Mr Kevin Dempsey as interim president and CEO to succeed Mr Thomas J Gibson who announced his retirement in March. Mr Dempsey, who has served as AISI’s senior vice president for public policy and general counsel since 2009, will assume the role immediately. Gibson will serve an advisor to AISI during the transition. The Board also recommended that AISI suspend the search process, currently being conducted by Korn Ferry.

Before joining AISI, Dempsey was a partner at Dewey & LeBoeuf, a global law firm, and its predecessor Dewey Ballantine LLP. While in private practice, Dempsey litigated numerous international trade cases on behalf of U.S. steel producers and other U.S. industries before the U.S. International Trade Commission, the U.S. Department of Commerce, and the U.S. courts. Prior to joining Dewey Ballantine in 1995, Dempsey served as counsel to Senator John C. Danforth (R-MO) and the U.S. Senate Committee on Commerce, Science and Transportation. Dempsey’s full biography can be found here.

Source : Strategic Research Institute

voda 24 juni 2020 15:22

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Global Crude Steel Production in May’20 Contracts by 9% YoY

World crude steel production for the 64 countries reporting to the World Steel Association was 148.8 million tonnes in May 2020, an 8.7% decrease compared to May 2019. China produced 92.3 million tonnes of crude steel in May 2020, an increase of 4.2% compared to May 2019. Japan produced 5.9 million tonnes of crude steel in May 2020, down 31.8% on May 2019. India produced 5.8 million tonnes of crude steel in May 2020, down 39.1% on May 2019. South Korea’s steel production for May 2020 was 5.4 million tonnes, down by 14.1% on May 2020. Production in the EU is estimated to be 10.5 million tonnes in May 2020, down 26.8% on May 2019. The United States produced 4.8 million tonnes of crude steel in May 2020, a decrease of 36.6% compared to May 2019. Production in the CIS is estimated to be 8.2 million tonnes in May 2020, down 7.6% on May 2019.

Voor lijst, zie pdf (Nederland op de 25e plek)

Due to the ongoing difficulties presented by the COVID-19 pandemic, many of this month’s figures are estimates that may be revised with next month’s production update.

Source : Strategic Research Institute

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voda 24 juni 2020 16:16

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JSW Bellary Steel Plant COVID19 Cluster Growing

Deccan Herald reported that Ballari district continued to see a spurt in Covid-19 cases with 28 fresh infections in the last 24 hours. The district tally has jumped to 470 with Jindal steel plant at Toranagallu alone accounting for more than 90% of the reported cases. Among the fresh cases reported on Monday, 20 are linked to the Jindal cluster.

However, local industry groupings have come out in support of the company. Ballari District Chamber of Commerce president V Ravi Kumar said “The call for stopping JSW because of the Covid-19 is very unfortunate. Where will the revenue to the state, the development of the om if large industries are stopped? Who will give employment?”

Source : Strategic Research Institute

voda 24 juni 2020 16:16

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SMC Power Acquires Concast Steel and Power Assets in Jharsuguda

Mint reported that Noida-based SMC Power Generation has acquired the main steel mill and power plant of Concast Steel and Power Ltd in a liquidation process. With INR 300 crore offered as upfront cash to lenders, this is the largest acquisition so far within the liquidation process under the Insolvency and Bankruptcy Code, 2016. Concast has capacity to produce 7.75 lakh tonnes per annum of sponge iron and pig iron, 2.5 lakh tonnes of TMT steel bars, structures and ferro alloys. SMC has also acquired a 70MW captive power plant as part of this.

Concast Steel and Power, an integrated iron and steel manufacturer with a sintering plant, and sponge iron units, in Jharsuguda, declared bankruptcy in November 2017 with outstanding dues of nearly INR 10,000 crore. State Bank of India is the lead banker in the consortium that lent to Concast. With no offers forthcoming during the corporate insolvency resolution process, the Kolkata bench of the National Company Law Tribunal had ordered liquidation in September 2018.

SMC Power Generation has installed capacities to produce 2 lakh tonne of sponge iron per annum, 3.5 lakh tonne of billets, 2.5 lakh tonne of TMT and captive power generation of 33 MW in Jharsuguda, Odisha.

SMC was advised by investment banking firm Singhi Advisors.

Source : Strategic Research Institute

voda 24 juni 2020 16:17

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Liberty Steel aims to Double Output at Rotherham Plant to 1 Million Tonnes

Reuters reported hat Liberty Steel said that it aims to boost output at its Rotherham plant in northern England, while also cutting its carbon dioxide emissions. Under the expansion plans, a Liberty steel mill in Rotherham will start making reinforcement bar. It will aim to fill a gap in the British rebar market, of which about half of the 1.2 million tonnes of demand is met by imports

The operation has two electric arc furnaces, which it wants to use to process more of the steel scrap generated in Britain, much of which is exported and melted abroad. Electric arc furnaces emit much less CO2 than coal-fired blast furnaces.

Source : Strategic Research Institute

voda 24 juni 2020 16:18

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Sandvik Dormer Pramet to acquire India’s Miranda Tools

Sandvik Machining Solutions Dormer Pramet is to acquire the entire business of India-based Miranda Tools, a manufacturer of High-Speed Steel and solid carbide round tools. the parties have agreed not to disclose the purchase price. The acquisition is said to enhance Dormer Pramet’s product offering and facilitate an improved presence in key markets such as India, China and Southeast Asia.

In 2019, Miranda Tools reported revenues of approximately 200 million SEK with around 580 employees.

The transaction is expected to close during the third quarter of 2020, subject to relevant regulatory approvals.

Source : Strategic Research Institute

voda 24 juni 2020 16:18

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AISI Applauds Supreme Court Decision to End Importer Challenge to Section 232

American Iron and Steel Institute president and CEO Mr Thomas J Gibson in response to tdecision by the US Supreme Court not to hear the challenge by steel importers to the constitutionality of the Section 232 statute, thereby leaving in place the decisions of the lower courts said “We are pleased that the U.S. Supreme Court today rightly affirmed our strong belief, and the previous decisions of the Court of International Trade and Court of Appeals, that the challenge to the Section 232 statute is without merit. This lawsuit by steel importers was a weak attempt to mask the fact that surging foreign imports have severely impacted the domestic steel industry and threaten our national and economic security. The decision by the Supreme Court today not to hear further arguments in this case is acknowledgement once again that Congress acted within its constitutional authority when it authorized the president to take action to adjust imports that threaten to impair our national security. We have consistently maintained this fact and are pleased that the highest Court agreed.”

The US Supreme Court on June 22 declined to hear a challenge to the Section 232 import tariffs on steel filed by the American Institute for International Steel, which argues that the tariffs imposed by US President Donald Trump's administration in March 2018 violate the US constitution.

following a February decision by the US Court of Appeals for the Federal Circuit upholding the tariffs, the AIIS again petitioned the Supreme Court to intervene. The US Supreme Court previously denied hearing a challenge to the tariffs from the group in June 2019. The AIIS, plus two of its members, filed a lawsuit in June 2018 challenging the constitutionally of the 25% import tariff the administration issued on steel in March of that year under Section 232 of the 1962 Trade Expansion Act. At the time, the administration also applied a 10% tariff on aluminum imports.

Source : Strategic Research Institute

voda 24 juni 2020 16:19

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Mr Oleg Krestinin Appointed asDeputy CEO & Sales Director of Metalloinvest

Metalloinvest announced the appointment of Mr Oleg Krestinin as Deputy CEO – Sales Director of Management Company Metalloinvest. Mr Oleg Krestinin's area of responsibility includes the implementation of the Company's commercial strategy, the development and implementation of the sales plan for domestic and international markets, procurement activities, and logistics optimisation.

Mr Oleg Krestinin graduated with a distinction in financial management from the State University of Management in 2001. From 2004 to 2011, he worked in managerial positions at Management Company Metalloinvest, Metalloinvest CJSC and Metalloinvest Trading AG. Between 2011 and 2020, he held the position of Executive Director of Metalloinvest Trading AG.

Source : Strategic Research Institute

voda 24 juni 2020 16:19

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US Steel Plans to Invest EUR 1.5 Billion in Košice

US Steel plans to invest up to 1.5 billion euros in Kosice in the next 10 years, mainly in the finalization of products and more environmentally friendly production. This was learned by members of the Committee of the National Council of the Slovak Republic for Economic Affairs under the chairmanship of its chairman Petr Kremsky directly in the Kosice steelworks during a working trip to eastern Slovakia. He said "I appreciate that the president of US Steel Kosice, James E Bruno, assured me of further plans to develop the Kosice steel plant despite the difficult market situation and the pressure of cheap supplies from competitors in China, Russia and India.”

In addition to the metallurgical factory, the deputies also visited Whirlpool in Poprad, Embraco in Spisska Nova Ves and Elektraren Vojany.

Source : Strategic Research Institute

voda 24 juni 2020 16:20

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Steel Production Capacity Utilizaion in US in Week 25 Improves

AISI reported that in the week ending on June 20, 2020, US domestic raw steel production was 1,224,000 net tons while the capability utilization rate was 54.6 percent. Production was 1,863,000 net tons in the week ending June 20, 2019 while the capability utilization then was 80.1 percent. The current week production represents a 34.3 percent decrease from the same period in the previous year. Production for the week ending June 20, 2020 is up 1.2 percent from the previous week ending June 13, 2020 when production was 1,210,000 net tons and the rate of capability utilization was 54.0 percent.

Adjusted year-to-date production through June 20, 2020 was 37,925,000 net tons, at a capability utilization rate of 67.5 percent. That is down 18.4 percent from the 46,450,000 net tons during the same period last year, when the capability utilization rate was 81.2 percent.

Broken down by districts, here's production for the week ending June 20, 2020 in thousands of net tons: North East: 111; Great Lakes: 406; Midwest: 129; Southern: 526 and Western: 52 for a total of 1224.

Source : Strategic Research Institute

voda 24 juni 2020 16:26

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Stupp Corporation Announces Ed Scram’s Retirement and Sean Clawges’s Appointment as President

Stupp Corporation announced today that Ed Scram has stepped down as President on June 1st and that the Board of Directors has elected Sean Clawges as the new President to succeed Mr Scram. Mr Scram will be retiring from Stupp Corporation on June 30th. Mr Clawges began his career in the automotive industry, holding operations management positions of increasing responsibility at General Motors, The Goodyear Tire and Rubber Company, and Dana Holding Corporation. During those experiences, Mr Clawges was responsible for safety, quality, productivity, and maintenance. After spending over twenty years in the automotive sector, he transitioned to the energy industry, joining Archrock, formerly Exterran Energy Solutions, in Houston, Texas. During his ten years at Archrock, Mr Clawges held positions managing teams responsible for major project execution, manufacturing expansions, engineering, operations support, supply chain, shop operations, and business transformation efforts. In every role, Mr Clawges successfully improved financial performance while maintaining a strong commitment to safety, quality, and production efficiency.

Mr Scram joined Stupp Corporation as President in 2005 after a successful career in operations management at Weirton Steel Corp. During his fifteen-year tenure at Stupp, Ed led the Company to expand its presence in the large-diameter line pipe market through construction of the two-step helical submerged arc weld pipe mill and through addition of value-added services to Stupp's product offering.

Since 1952, Stupp Corporation has been a manufacturer of custom steel pipe. It is the largest division of Stupp Bros., Inc., a privately-owned company focused on providing infrastructure development in the United States. Stupp's state-of-the-art facilities in St. Louis, Missouri; Baton Rouge, Louisiana; and Bowling Green, Kentucky; produce the essential materials to build pipelines, bridges, high-rise buildings, and sports facilities for customers in both the private and public sectors.

Source : Strategic Research Institute

voda 24 juni 2020 16:27

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Fitch Revises Outlook on Metinvest to Negative; Affirms at 'BB-'

Fitch Ratings has revised the Outlook on Ukrainian integrated steel company Metinvest B.V.'s Long-Term Local- and Foreign-Currency Issuer Default Ratings to Negative from Stable and affirmed the IDRs and senior unsecured bonds at 'BB-'. A full list of rating actions is below.

The rating actions reflect Metinvest's weak financial position at the start of the coronavirus pandemic, with funds from operations gross leverage of 3.9x at end 2019, compared with the negative rating guideline of 2.5x. They also take into account management's initiatives to reduce operating costs, cut capex by around USD350 million over the next two years and suspend dividends until markets recover. However, focus on free cash flow generation and debt reduction over the next two years could support the financial profile moving back within our ratio guidelines. Current measures may not be sufficient, if the recovery of steel markets take longer than in our rating forecast.

Source : Strategic Research Institute

voda 24 juni 2020 16:28

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Steel Users Urged to use Made in India Steel

PTI reported that Union Steel Minister Dharmendra Pradhan has urged all stakeholders of the sector to come together to ensure that industries use only domestically produced steel. He said “There are many sectors which still do not use domestically produced steel due to various reasons. Unless all the stakeholders including the mining industry, the processing industry, the furnace associations, the secondary steel sector or the integrated steel plants, come together, it will be difficult to take steel to another level.”

He added “Demand for steel in the domestic market is very low, and we will take up all the programmes that will boost the sector. Since Independence, during the last six years, a majority of the reforms have been undertaken by the government to make the raw materials available for the sector. We all should work towards fulfilling our needs with steel completely made in India.”

In the last few quarters, domestic demand for steel has declined due to the economic slowdown followed by the COVID-19 outbreak and resultant shutdowns.

Source : Strategic Research Institute

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