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voda 1 juli 2020 16:35

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Danieli High-Speed Mill for Flat Bars at Changshu Longten in China

Changshu Longteng Special Steel in China has reconfirmed its confidence in Danieli rolling technology with an order for a 400,000 tonnes per year, continuous mill for flat bar products. A new Danieli SBQ mill and wirerod line recently started-up at the same site. The new mill will consist of 11 stands arranged in H/V configuration, as well as a downstream process that will include a transfer bed and equipment for collecting spooled flat products from the customer's coiling machines.

The new mill will replace a three-high mill, increasing annual production capacity and product quality.

Finished products will be 70- to 130-mm thick flats for end plates, at rates up to 75 tph.

The new plant is scheduled to start production at the beginning of 2021.

Source : Strategic Research Institute

voda 1 juli 2020 16:35

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Eight Core Industries Output in India Contracts by 23% in May

The output of eight core infrastructure industries shrank by 23.4 per cent in May due to the coronavirus-induced lockdown as compared to decline of 37 percent (provisional) in previous month of April 2020.Its cumulative growth during April to May, 2020-21 was minus 30.0 per cent. In view of nationwide lockdownduring April& May 2020 due to COVID-19 pandemic, various industries viz. Coal, Cement, Steel, Natural Gas, Refinery, Crude Oil etc.experienced substantial loss of production. Steel production (weight: 17.92 per cent) declined by 48.4 per cent in May, 2020 over May, 2019. Its cumulative index declined by 63.3per cent during April to May, 2020-21 over the corresponding period of previous year.

Coal- Coal production (weight: 10.33 per cent) declined by 14.0 per cent in May, 2020 over May, 2019. Its cumulative index declined by 14.7per cent during April to May, 2020-21over corresponding period of the previous year.

Crude Oil- Crude Oil production (weight: 8.98 per cent) declined by 7.1 per cent in May, 2020 over May, 2019. Its cumulative index declined by 6.7 per cent during April toMay, 2020-21over the corresponding period of previous year.

Natural Gas- The Natural Gas production (weight: 6.88per cent) declined by16.8 per cent in May, 2020 over May,2019. Its cumulative index declined by 18.3 per cent during April to May, 2020-21 over the corresponding period of previous year.

Refinery Products- Petroleum Refinery production (weight: 28.04 per cent) declined by 21.3 per cent in May, 2020 over May, 2019. Its cumulative index declined by 22.7 per cent during April to May, 2020-21over the corresponding period of previous year.

Fertilizers-Fertilizers production (weight: 2.63 per cent) increased by 7.5 per cent in May, 2020 over May, 2019. Its cumulative index increased by 2.0 per cent during April toMay, 2020-21 over the corresponding period of previous year.

Source : Strategic Research Institute

voda 2 juli 2020 09:25

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JSPL sells Shadeed stake to reduce debt

Jindal Steel & Power (JSPL) will sell its entire stake in Oman-based long steelmaker subsidiary Jindal Shadeed to Templar Investments Limited for $1 billion, Kallanish learns from the Indian producer.
The Indian steelmaker has accepted a binding offer from the Mauritius-based investment firm, which is part of the same OP Jindal Group that owns JSPL.
“The divestment is in line with JSPL’s vision and commitment to continuously bring down its debt and deleverage its balance sheet,” JSPL says. The sales process “…received competitive offers from multiple interested bidders.”
The transaction is subject to approval from JSPL's shareholders and Jindal Shadeed's lenders among others. JSPL expects the transaction to close in approximately a month.
JSPL said in May it is seeking a strategic investor for Shadeed rather than carrying out its earlier-planned initial public offering for the unit (see Kallanish passim). Later that month it said the non-availability of migrant labour as a result of the Covid-19 pandemic has hastened the lower-oil-price-driven decline in Middle Eastern construction activity.
In the fiscal year through March 2020 Shadeed’s sales rose 4% on-year to 1.88 million tonnes and output by 9% to 1.87mt. Revenue and Ebitda, however, fell -11% and -24% respectively on-year to $910m and $138m.
Sohar-based Jindal Shadeed’s 2.4m t/year capacity EAF meltshop feeds both square and round billet casters. The works also has a 1.8m t/y hot-briquetted iron plant and a 1.4m t/y rebar mill. Last year Shadeed commissioned a new SMS-supplied high-speed billet caster with six strands and plans to install further equipment in order to enable the production of SBQ steel grades.

Bron: Kallanish

voda 2 juli 2020 11:08

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Beursblik: UBS verlaagt koersdoel ArcelorMittal

FONDS KOERS VERSCHIL VERSCHIL % BEURS
ArcelorMittal
9,75 0,426 4,57 % Euronext Amsterdam

(ABM FN-Dow Jones) UBS heeft donderdag het koersdoel voor ArcelorMittal verlaagd van 12,00 naar 11,00 euro bij handhaving van het koopadvies.

De Zwitserse zakenbank stelde de ramingen voor de staalreus neerwaarts bij als gevolg van de zwakke staalprijzen, maar ook als gevolg van de sterke ijzerertsprijzen in het tweede kwartaal.

De verwachting voor het EBITDA-resultaat dit jaar werd door UBS met 13 procent verlaagd tot 3,0 miljard dollar en met circa 5 procent voor de twee jaar daarna. Zodoende kwam UBS tot het lagere koersdoel van 11,00 euro.

UBS handhaafde wel het koopadvies voor ArcelorMittal. De analisten merkten op dat de huidige spreads in de Europese Unie en Noord-Amerika niet duurzaam zijn en dat sectorgenoten de deuren moeten sluiten of moeten consolideren. ArcelorMittal is volgens UBS in zo'n situatie goed gepositioneerd, mede vanwege de sterke balans.

Het aandeel ArcelorMittal koerste donderdagochtend 4,9 procent hoger op 9,78 euro.

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

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

voda 2 juli 2020 11:08

0

Increase in Chinese Rebate Poses Threat to Latin American Steel Sector

Latin American steel association Alacero said that while the new coronavirus pandemic is reducing demand throughout world markets, Chinese exporters have increased their tax rebate for 1,464 products since March 20. The export tax rebate rate for steel products such as wire rod that went from 0% to 13% and hot-rolled alloy coils that increased from 10% to 13% between January 2019 and March 2020. The increase, intended to boost operations and strengthen China’s industry, has an impact mainly on exports of hot-rolled products and wire rod, raising the rebate and generating an advantage of US$ 10 to US$ 15 per ton in exports. Imports under unfair conditions can lead to plant shutdowns and job losses in the Latin American steel industry, as China's surplus is sold in the region at prices with which domestic producers cannot compete. Alacero Director-General Francisco Leal said “The most effective way to capture new markets is through price, and the Chinese government has the financial capacity to subsidize steel, impacting Latin America, especially now that many doors in other places in the world are closed to them. In this region, our industry works according to market rules, and we are unable to compete under these conditions. We need to protect the regional industry and not provide free access to unfair imports.”

The Latin American steel industry is competitive and operates in accordance with world-class governance, environmental quality and safety standards. Among the main actions which can be implemented to protect the domestic industry are a more effective customs inspection, quality assurance policies required for imports and the enforcement of all instruments established by the WTO. In light of surplus capacity, it is clear that it is still a centralized planning economy and not a market economy.

These new measures by the Chinese government are designed to provide immediate aid to companies, and although the year started out with fewer exports, they are recovering quickly. The low activity led to a record steel inventory, at least 20 million tons higher than the previous year.

Alacero leads the efforts to disseminate the message about the dangers of this unfair trade practice among opinion leaders and governments across the region, showing the continental dimensions of the problem. We are specifically asking that Latin American governments establish clear rules and adopt a strategic vision and act with determination. Latin American steel companies are in favor of competition and open trade, when the same terms are applied to all. The only way to generate the quality jobs and development that our economies need is to ensure a solid foundation for the steel industry.

Source : Strategic Research Institute

voda 2 juli 2020 11:09

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ASEAN Steel Demand to Shrink in 2020

Dscussons in SEAISI e-Conference revealed that steel consumption in the ASEAN-6 countries is expected to decline by 2.1 percent to 79.3 million tonnes in 2020 mainly because of a drop in the Philippines, Malaysia and Thailand. The largest fall in demand is expected in the Philippines, with an anticipated fall of 8.1 percent this year, which reflects the sharp decline in construction activity during Covid-19 pandemic. This will impact the total imports of billet in the ASEAN region, as the Philippines is one of the main buyers. Steel demand is foreseen to drop by eight percent in Malaysia and by 6.6 percent in Thailand. Nevertheless, Vietnam and Indonesia are expected to register positive growth of steel consumption in 2020, adding four percent and three percent, respectively. Vietnam is the only country in the ASEAN-6 which is expected to post positive GDP growth for this year of 2.8 percent, according to the World Bank. Strong demand for HRC in Vietnam has supported mills from India, the CIS and even Turkey, when they faced the slowdown of demand in their local markets during the pandemic.SEAISI secretary general Yeoh Wee Jin said “Covid-19 has a significant impact on ASEAN economies, with most expecting a V-shape recovery by 2021.”

Historically, ASEAN countries have recovered very fast since the Asian financial crisis in 1997 and it usually takes not more than one year for them to get back on track. In 2021, steel consumption in the ASEAN-6 is expected to rise by five percent to 83.2 million tonnes, including a fast recovery in the Philippines where demand is foreseen to increase by 6.9 percent, and in Thailand with expected five percent growth. At the same time, demand in Vietnam and Indonesia will rise by a modest 3.3 percent and 3.4 percent in 2021 respectively.

Source : Strategic Research Institute

voda 2 juli 2020 11:10

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SAIL Dispatches First Rake of R 260 Grade Vanadium Alloyed Rails to Indian Railways

Steel Authority of India Limited‘s Bhilai Steel Plant has successfully rolled Vanadium alloyed special grade Rails, R 260 grade, for the Indian Railways and the first rake was flagged off on 30th June, 2020 by Shri Anirban Dasgupta, Director (P&BP) with additional charge of CEO of BSP. The R 260 grade of Rails is targeted to meet the requirements of Indian Railways for higher speed and higher axle load. Indian Railways is moving towards higher speed and axle load rails for which it required SAIL to produce R 260 grade and SAIL has started successfully producing the same. The high strength of more than 550 MPa will enable Indian Railways to withstand more rigorous Rail traffic and also achieve better life. The Rails shall be supplied in the form of 260 meter long welded panels.

The new grade of rails rolled by SAIL-BSP is based on R 260 grade specifications issued by Indian Railways Research & Development wing. R 260 grade specification issued by RDSO is more stringent than the European specifications on many parameters, including the hydrogen content of 1.6 ppm max in steel as compared to 2.5 ppm max specified in the European specification. SAIL/BSP has started producing the R 260 rails from its new and modern Universal Rail Mill.

Source : Strategic Research Institute

voda 2 juli 2020 11:10

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Cedar Holdings Completes Acquisition of Stemcor

Privately held leading global steel trading and distribution company Stemcor Global Holdings Lt announced completion of the acquisition of the entire share capital of the Group by Cedar Holdings Group Co Ltd, a leading privately-owned commodities business listed on the Fortune Global 500. This follows the formal signing ceremony, in January this year, of a Sale and Purchase Agreement, between the parties at the World Economic Forum in Davos n Switzerland.

Stemcor will retain its name and autonomy, whilst continuing to provide the highest level of service to its customers and suppliers and generating consistently profitable performance across its worldwide trading network.

Natixis SA advised Stemcor’s shareholders on the transaction.

Source : Strategic Research Institute

Bijlage:

voda 2 juli 2020 11:11

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Supreme Court Case by ED to Delay JSW Steel deal for BPSL

The Telegraph reported that JSW Steel may get a breather to conclude the deal to acquire Bhushan Power & Steel Ltd through bankruptcy proceedings after the Enforce Directorate filed a petition before the Supreme Court challenging the transaction. The ED argued that BPSL cannot seek protection from charges slapped under the PMLA (Prevention of Money Laundering Act) under Section 32A of the Insolvency & Bankruptcy Code, a newly inserted section, which came into effect on December 28, 2019. The ED says the NCLAT does not have any jurisdiction to direct the ED to release property attached under the PMLA, which has a wider scope than IBC. It states that BPSL would not qualify to get immunity under Section 32A even if IBC rules were to apply.

Pointing out that JSW Steel and BPSL were shareholders in a company Rhone Coal Company Pvt Ltd, the ED concluded that the two were related parties and JSW should fall foul of the section 29A of IBC which bars ‘connected persons’ to the erstwhile promoter of a corporate debtor to submit a resolution plan.

The ED also challenged an affidavit filed by the ministry of corporate affairs, which is under the ministry of finance just like the ED, interpreting PMLA before the NCLAT.

Section 32A gives immunity to corporate debtors, the corporate entity to be acquired through IBC, from any prosecution, attachment or confiscation arising out of charges against the erstwhile promoter, after the plan is approved. While clearing JSW’s plan, the National Company Law Appellate Tribunal on February 17, 2020, had dismissed the ED’s plea and released INR 4,025.23 crore worth of BPSL assets which the directorate had attached on October 10, 2019.

JSW is under pressure from the committee of creditors, led by PNB, to conclude the transaction by paying the creditors. The Jindals have maintained that the deal would not go through unless BPSL gets immunity from the ongoing PMLA cases. The upshot: JSW will get more time to conclude the BPSL deal at a time steel demand in India has collapsed under the Covid effect.

Source : Strategic Research Institute

voda 2 juli 2020 11:12

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South Africa Starts Safeguard Probe on Steel Imports

IOL reported that ArcelorMittal South Africa has approached the International Trade Administration Commission for safeguards on imports of structural steel products amid concerns over poor demand and rising steel imports. ArcelorMittal South Africa spokesperson said that “ArcelorMittal South Africa, in collaboration with Evraz Highveld Steel, has applied for safeguards on structural steel products produced in the Highveld Mill. A safeguard application simply presents the facts and, based on those facts, Itac will decide whether to grant a safeguard and if so, at what level it should be placed.”

The application comes amid global supply and record export volumes by countries that have excess steel capacity.

In response to the application, Itac wrote a letter to the company confirming it had initiated an investigation for remedial action in the form of a safeguard measure for structural steel. Itac said in the letter that all countries that might be impacted by the safeguard had been contacted and requested to provide written comments on the matter.

Source : Strategic Research Institute

voda 2 juli 2020 11:20

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US Steel to restart Gary Works BF 6

Pittsburgh based integrated steelmaker United States Steel announced restart of blast furnace at Gary Works steel mill in Indiana. The blast furnace No 6, which was idled in end April this year, would be back to operation after a period of almost two months. The company said it was restarting the blast furnace to meet increased demand

Integrated steelmaker US Steel will restart the No 6 blast furnace at its Gary Works steel mill in Indiana after the 4 July holiday weekend, nearly two months after it was idled because of Covid-19-related demand shocks.

Source : Strategic Research Institute

voda 2 juli 2020 11:20

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Mechel Completes Reconstruction of Coke Battery 8 at Mechel Coke

Leading Russian mining and metals companMechel has completed another stage of its production facility's ecological modernization at Chelyabinsk Coke and Chemical Products Plant. The plant has revamped its coke battery 8, which will enable it to decrease waste emissions. Investment in the project totaled 218 million rubles. The coke battery 8’s reconstruction which included replacement of two gasholders, is one step in a series of measures outlined in the company’s ecological program as set in the agreement signed by Mechel Group with Chelyabinsk Region’s government, Russia’s Natural Resources Ministry and Federal Supervisory Natural Resources Management Service.

The coke battery’s coke gas offtake system was upgraded, with two new gasholders, gas exhaust pipes and a crude coke gas main installed. The battery’s upper paving and a loading chute for raw materials were also replaced. New cooling water and pressed air supply lines, steam pipes and other systems were also installed to ensure the coke battery’s reliable and ecologically friendly operations.

The plant installed best available technologies, sealing systems for the gas exhaust pipes, smoke-free coal loading. This will increase the facility’s leak tightness and reduce emissions of 1-4 hazard category substances (benzopyrene, benzene, phenol, ammonia, coal dust) by four tonnes a year at this facility alone.

Chelyabinsk Coke and Chemical Products Plant (Mechel Coke) is a by-product coke plant with over 10 shops and departments. Its primary product is metallurgical coke, manufactured in eight coke-oven batteries. Mechel Coke supplies the needs of Mechel enterprises as well as markets its products domestically and internationally.

Source : Strategic Research Institute

voda 2 juli 2020 11:21

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Primetals Technologies & PSI Metals Receive MES Order for Gerdau’s Melt Shop

By end of February, Primetals Technologies received an order for the installation of a Manufacturing Execution System for Gerdau’s integrated plant melt shop in Ouro Branco in Minas Gerais in Brazil. The new solution will replace an existing system, which offers only limited upgrade options after several years of operation. The project will be executed by Primetals Technologies in cooperation with PSI Metals, thus combining leading automation, metallurgical and software know-how in the steel industry. The new melt shop MES offers a deep integration with the existing level 1 and level 2 systems of Primetals Technologies based on standard interfaces. The solution makes use of the standard software product PSI Metals, which offers regular updates and upgrades, and which is already used in the plate mill and hot strip mill lines at Ouro Branco.

The existing melt shop Manufacturing Execution System of Gerdau in Ouro Branco cannot meet the high-quality demands of the Brazilian steel producer any more. Limited options for upgrades are the main reasons to source a new solution. The new PSI Metals based MES solution is offering the operators a holistic view of the running production from the melt shop to their plate and hot strip mill to improve the quality of the production processes. In 2019 Primetals Technologies finished the installation of new level 1 and level 2 systems for a 6-strand billet caster and level 2 system for two blast furnaces at Gerdau Ouro Branco.

Source : Strategic Research Institute

voda 2 juli 2020 11:21

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AMETEK Surface Vision System Helps Tenaris to Prevent Strip Breakages

Ternium SA has reduced the frequency of damaging strip breakages thanks to a system provided by AMETEK Surface Vision, the leading provider of online surface inspection solutions. With steel mills operating at high speed, a breakage in the strip can cause serious and costly damage to equipment. Ternium wanted to find a way to minimize these breakages, safeguarding the mechanical integrity of the mill and ensuring maximum process continuity. AMETEK Surface Vision’s SmartView system was installed on the line to provide automated monitoring of surface quality issues on the coils passing through the mill, which has a rolling capacity of 6,000 tonnes a day.

The SmartView system combines cutting-edge software and rugged, proven hardware to deliver the most precise real-time detection and classification of material defects. Uniting the company’s powerful surface inspection and monitoring capabilities, synchronized high-resolution color camera technology is supported by powerful LED lighting arrays for the high-quality image capture of defects using multiple inspection angles. The defects responsible for the strip breakages were correctly detected and classified by the SmartView® system. However, since some steel defects are challenging by their nature, and could be misclassified or not classified at all, the defect classification task was critical for the results obtained.

With 17 sites across Argentina, Brazil, Mexico, Guatemala, Colombia, and the United States, Ternium has plants covering the entire manufacturing process from iron ore extraction to the creation of high-value-added products. Its plant in Monterrey, Mexico, operates a pickling line tandem cold mill with five stands, six high. The plant is focused mainly on producing automotive products with high-quality requirements.

Source : Strategic Research Institute

voda 3 juli 2020 07:56

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ArcelorMittal wil miljarden investeren in India - media

FONDS KOERS VERSCHIL VERSCHIL % BEURS
ArcelorMittal
9,834 0,00 0,00 % Euronext Amsterdam

(ABM FN-Dow Jones) ArcelorMittal is van plan om 200 miljard roepies, omgerekend circa 2,4 miljard euro, te investeren in een capaciteitsuitbreiding en in de infrastructuur in de Indiase staat Gujarat. Dit meldde The Economic Times donderdag op basis van uitspraken van topman Lakshmi Mittal.

De investering zal worden gebruikt voor een ruimtelijke herindeling en het verbeteren van het haven- en spoornetwerk, zo liet Mittal volgens de Indiase krant weten in een videoconferentie met minister Vijay Rupani van Gujarat.

Ook wil ArcelorMittal 50 miljard roepies investeren om de capaciteit van een staalfabriek van Essar uit te breiden tot 8,6 miljoen ton per jaar.

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

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

voda 3 juli 2020 12:02

0

Geen gedwongen ontslagen bij Tata Steel

(ABM FN-Dow Jones) Er komen geen gedwongen ontslagen bij Tata Steel in IJmuiden bij de aanstaande reorganisatie vanuit Tata Steel Europe. Dit meldde vakbond FNV vrijdag.

Het werkgelegenheidspact, waar afspraken in staan over baanbehoud, is verlengd met vijf jaar tot 1 oktober 2026.

Daarnaast gaat het staalbedrijf investeren in innovatie en het aanpakken van milieuproblemen.

FNV zei zeer tevreden te zijn met het akkoord. "Dit akkoord biedt een tegenwicht aan de risico’s die we vanuit Tata Steel Europa op ons af zien komen", zei Roel Berghuis, bestuurder FNV Metaal.

Voor eind september zal Tata Steel laten weten hoe ze gaan zorgen klaar te zijn voor de toekomst.

In november 2019 kondigde Tata Steel Europe een langverwachte reorganisatie aan. In totaal zouden 3.000 banen verloren gaan, waarvan meer dan de helft in Nederland. Dat aantal werd neerwaarts bijgesteld naar een totaal van 1.250 in heel Europa. Hoeveel banen er nu in Nederland zullen verdwijnen, is niet duidelijk.

Begin april werd de voorgenomen reorganisatie uitgesteld tot na 1 juli, vanwege de coronacrisis.

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

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

voda 3 juli 2020 12:39

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Oversupply to Drive Price Correction in India in Jul-Sep Quarter

India Ratings and Research’s in latest report said that domestic gross spreads per tonne, realisation per tonne of steel minus raw material cost per tonne of steel, for both hot rolled coil and rebar are expected to fall further in 2QFY21 with a further fall in steel prices due to oversupply because domestic production will gradually increase with the easing of lockdown restrictions along with no corresponding increase in steel demand. By mid-June 2020, rebar spreads corrected more than HRC spreads due to a sharper fall in demand than available supply, because of the presence of several small and mid-sized players and fragmented nature of the industry within the long products segment, leading to intense competition. However, rebar spreads are likely to be less impacted over the near term up to end-FY21 compared to HRC due to a likely better demand pick-up, leading to a price increase backed by the expected implementation of government spending on infrastructure.

Both HRC and rebar prices were down 3% and 4% mom, respectively in mid-June 2020. In May 2020, steel prices temporarily rose although higher inventories were available with steel players. This was due to logistical constraints and man-power availability issues, resulting in limited supply to end-use industries which gradually re-opened post relaxations in the lockdown.

The increase in Chinese imports benefited domestic steel players, especially the large steel players who were operational at lower utilisation levels during the lockdown and who compensated for the dull domestic demand by increasing steel exports majorly to China albeit at lower margins. However, timely policy support from the government would help bolster the demand for the domestic steel sector. This is in line with the agency’s expectation and COVID-19 Impact Assessment: Pick-up in Exports & Policy Support to Save Indian Steel Industry.

Small and mid-sized steel players especially those within the micro, small and medium enterprises category have been impacted more and are likely to face tight liquidity due to delays in the receipt of receivables and payment of fixed charges towards labour, electricity etc. However, most steel producers are have raised a plea for the waiver of fixed demand charges and surcharges on electricity bills and charging of the actual units consumed during the lockdown period by the respective state electricity boards as well as relaxation in terms of payments of electricity bills, till the situation is favourable for the smooth running of steel plants.

Source : Strategic Research Institute

voda 3 juli 2020 12:40

0

SAIL Records Highest Ever June Sales & Highest Ever Monthly Exports

Steel Authority of India Limited has achieved the highest ever June month sales during June’20. The domestic and export sales stood at 12.77 Lakh Tonnes which is a jump of more than 18% over the Corresponding Period Last Year. In June’20, the Company has also recorded the highest ever exports for any month. It exported 3.4 Lakh tonnes steel during this period.

It also achieved the best ever June dispatches of Rails to the Indian Railways in June’20. Incidentally, for the first time in the Country, SAIL flagged off the first rake of R-260 grade Vanadium alloyed high strength 260 meter rails to the Indian Railways, capable of delivering higher speed and bearing higher axle load.

In addition, SAIL has also sold 42 thousand Ton of Pig Iron during June’2020.

Source : Strategic Research Institute

voda 3 juli 2020 12:42

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JSPL Reports 12% Increase in Sales in Q1 of 2020-21

Jindal Steel & Power Limited has reported growth in its Standalone Steel Production and Sales during Q1 FY'21. The company recorded a 12% QoQ growth in sales volumes and 8% rise in standalone steel including pig iron production during Q1 FY'21. The export sales contributed to 58% of total sales volumes in Q1 FY'21.

Key Highlights
- Ever Highest Monthly Steel (incl. pig iron) production of 626,000 tons in June 2020
- Ever Highest Quarterly Steel (incl. pig iron) production of 1,670,000 tons in Q1 FY'21
- Ever Highest Export Sales of 900,000 tons in Q1 FY'21
- Consolidated Steel (incl. pig iron) Sales rises by 7% Q-o-Q

Source : Strategic Research Institute,

voda 3 juli 2020 12:42

0

AMNS India to Ramp Up Capacity of Hazira Plant

ArcelorMittal Chairman and CEO Mr LN Mittal told Gujarat Chief Minister Mr Vijay Rupani in a video-conference that ArcelorMittal Nippon Steel will invest INR 5,000 crore to ramp up the capacity at its Hazira plant to 8.6 million tonne and has plans to spend another INR 20,000 crore for its expansion in future.

AMNS India is a 60:40 joint venture between ArcelorMittal and Nippon Steel Corporation that owns integrated Hazira steel facility of erstwhile Essar Steel. AMNS acquired Essar Steel by paying INR 50,000 crore in December 2019 following an order by the Supreme Court.

Source : Strategic Research Institute

Vertraagd	16 apr 2024 17:39
Koers	23,760
Verschil	-1,760 (-6,90%)
Hoog	24,370
Laag	23,550
Volume	8.435.640
Volume gemiddeld	2.286.866
Volume gisteren	2.055.736

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