Beursonline.nl

voda 6 april 2021 07:16

0

India Starts Sunset Review on AD Duties on HR, Plates & CR Imports

India’s Commerce Ministry's investigation arm Directorate General of Trade Remedies, citing applications from Indian Steel Association, has initiated two probes to review the need for continuing imposition of anti dumping duty on HR & CR flat steel imports from China, Japan, Korea, Russia, Brazil & Indonesia and China, Japan, Korea & Ukraine respectively. DGTR said “On the basis of the duly substantiated application of the applicants and "having satisfied itself, on the basis of the prima facie evidence submitted by the domestic industry, substantiating the likelihood of continuation or recurrence of dumping, DGTR has initiated sunset review investigation. The DGTR would review the need for continued imposition of the duties in force and examine whether the expiry of existing duties is likely to lead to continuation or recurrence of dumping and impact the domestic industry.”

Indian Steel Association has filed applications before the DGTR on behalf of the SAIL, JSW Steel Ltd and ArcelorMittal Nippon Steel India Ltd for initiation of sunset review investigation. The application is supported by Tata Steel Limited and Tata Steel BSL Limited. The applicants have alleged that dumping of the products from these countries has continued even after imposition of anti-dumping duty, and there is a likelihood of continuation of dumping if the existing duty is allowed to expire.

HR & Plates - The scope of the product under consideration in the present sunset review investigation is the same as in the original investigation. The product under consideration in the present investigation is Hot-rolled flat products of alloy or non-alloy steel in coils of a width up to 2100mm and thickness up to 25mm, and Hot-rolled flat products of alloy or non-alloy steel not in coils of a width up to 4950mm and thickness up to 150mm. The PUC is classified under Custom Tariff Heading 7208, 7211, 7225 and 7226. The subject countries for the present sunset review investigation arc Brazil, China PR. Indonesia, Japan, Korea RP, and Russia. Petitioner has proposed the period from 1st April 2019 to 30th September 2020 (18 months) as the period of investigation. The injury investigation period is 2016-17, 2017-18, 2018-19 and POI. DGTR vide a notification dated 10.04.2017 had imposed definitive anti dumping duty equal to the lesser of margin of dumping and margin of injury provided the landed value is less than the value of USD 478-489 per tonne on Hot-rolled flat products of alloy or non-alloy steel in coils of a width up to 2100mm and thickness up to 25mm (7208, 7211, 7225 & 7226) & USD 561 per tonne on Hot-rolled flat products of alloy or non-alloy steel not in coils of a width up to 4950mm and thickness up to 150mm. (7208, 7211, 7225 & 7226)

CR - The product under consideration in the present sunset review investigation is Cold rolled & cold reduced flat steel products of iron or non-alloy steel, or other alloy steel, of all widths and thickness, not clad, plated or coated. The PUC is classified under Custom Tariff Headings 7209, 7211, 7225 and 7226. The subject countries for the present sunset review investigation arc China, Japan, Korea RP and Ukraine. Petitioner has proposed the period from 1st April 2019 to 30th September 2020 (18 months) as the period of investigation. The injury investigation period is 2016-17, 2017-18, 2018-19 and POI. DGTR vide a separate notification dated 10.04.2017 had imposed definitive anti dumping duty equal to the lesser of margin of dumping and margin of injury provided the landed value is less than the value of USD 576 per tonne on Cold rolled & cold reduced flat steel products of iron or non-alloy steel, or other alloy steel, of all widths and thickness, not clad, plated or coated (7209, 7211, 7225 and 7226).

Source - Strategic Research Institute

voda 6 april 2021 07:17

0

Steel Executives Seek Merger of SAIL, RINL, NMDC, NINL & MECON

Steel Executive’s Federation of India has sought formation of a single mega steel unit by merging steel plants of Steel Authority of India Limited and its subsidiary units with Rashtriya Ispat Nigam Limited, RINL and its subsidiary company, Neelanchal Ispat Nigam Limited, NMDC steel plant and mining business and Mecon under the Ministry of Steel. A resolution to this effect was passed by the SEFI at a meeting in Delhi, on 4 March 2021. The meeting was attended by representatives of Officers Association of SAIL, Steel Executives Association of Visakhapatnam Steel Plant, Officers Association of NINL and NMDC Steel Officers Association.

SEFI said “This would greatly help to realise the targets of National Steel policy of 300 MTPA steel capacity by 2030-31. Each of the steel units has its strengths and weaknesses, but merger of them into a single unit would help them to synergise their strengths and turn the weaknesses into opportunities and overall benefits to the nation. Steel being an essential component in the growth rate and contributes heavily to the GDP of our country, it should be kept under strategic sector of the nation.”

SEFI added “This merger is also in line with the recommendations of Parliament Committee for PSUs, submitted in March 2013, and shall facilitate further expansion of steel capacities.”

Source - Strategic Research Institute

voda 6 april 2021 07:17

0

COVID19 Tested the Resilience of Russian Steel Makers in 2020

Fitch Ratings last week affirmed Long-Term Issuer Default Rating and senior unsecured rating at 'BBB' with Outlook on the Long-Term IDR as Stable for three Russian steel makers NLMK, MMK & Severstal. Fitch said “Russian steel companies were less affected by a collapse in demand due to the pandemic, as their low-cost position has allowed them to offset weaker domestic sales with export supplies and to remain profitable even at depressed steel prices. Russian steel demand fared better than initially expected in 2020 by declining only around 3%, since domestic steel consumption is heavily skewed towards construction activities, which are more resilient than manufacturing. We expect that in 2021 domestic consumption recovery will offset the previous year's decline, supported by construction activity aided by government stimulus and infrastructure projects and forecast 3.3% Russian GDP growth. Over the medium term domestic steel demand will be constrained by low growth and lacklustre industrial production.”

Fitch added that “Earnings to Peak in 2021 - Global steel companies responded to 2020 demand collapse in a disciplined manner by idling up to 30% capacities or operating at reduced run rates. Since the lockdowns eased, capacity restarts have been trailing demand rebound, which along with low inventories, triggered a price rally across the steel value chain. We anticipate the current price rally to be short-lived, but it should support robust 1H21 results before gradually moderating in 2H21. Given that Russian steel prices have been lagging global market growth, the overall price gain effect should be smoother for domestic sales.”

Source - Strategic Research Institute

voda 6 april 2021 07:29

0

JSPL Posts Highest Ever Production & Sales in FY 2020-21

Jindal Steel and Power Limited has reported highest ever production and sales in FY 2020-21 of 7.51 million tonne up 19% YoY and 7.28 million tonne up 20% YoY respectively. Exports accounted for 35% of sales in 2020-21 compared to 13% in 2019-20. JSPL Managing Director Mr VR Sharma said "We are proud of our team for producing 7.51 million tonnes of steel in this financial year marred by the global pandemic. This remarkable growth during the most challenging time period has been possible due to our firm belief in the India growth story, our focus on creating opportunities in adversity and the dedication of each & every member of the JSPL family. We will continue to work towards our target of 15:15:50, ie INR 15,000 crore EBITDA: INR 15,000 crore Net Debt: INR 50,000 crore Gross Turnover.”

JSPL sales hit a new record of 786,000 tonnes in March 2021, up 61% YoY while production rose by 21% YoY to 730,000 tonnes.

Production and sales in January-March quarter of FY 2020-21 were also at record levels of 2.07 million tonne up 34% YoY and 1.91 million tonne up 38% YoY respectively.

Source - Strategic Research Institute

voda 6 april 2021 07:33

0

RINL Employees Families Rally against Privatisation in Vizag

Express News Service reported that after 53 days, the agitation against privatization of Rashtriya Ispat Nigam Limited is gaining further momentum as more and more people are extending support to it and a lot of activity was witnessed at the relay hunger strike camps at Kurmannapalem Junction and the Gandhi statue at the Greater Visakhapatnam Municipal Corporation office in Visakhapatnam. Beach Road in the city on Sunday was reverberated with the slogan ‘Visakha Ukku Andhrula Hakku’ as hundreds of people participated in ‘Maha Kavatu’ organised by the Visakha Ukku Parirakshana Porata Committee against privatisation of the steel plant. The Beach Road was a chock-a-block as the steel plant employees and their family members and leaders of various political parties participated in ‘Maha Kavatu’, which began from the NTR statue and concluded at the YSR Statue. They raised slogans denouncing the Mr Narendra Modi government’s move to privatise Visakhapatnam Steel Plant. Dubbed as preparatory rally for the proposed April 18 ‘Maha Sabha’, where several farmer leaders, including Mr Rakesh Tikait, and political leaders, will participate, evoked a good response from people apart from VSP employees.

Also on Sunday, the Defence Coordination Committee members undertook a padayatra protesting against privatisation of the steel plant and other PSUs, including defence sector. The padayatra began from the industrial estate and culminated at the Gandhi statue.

A signature campaign was organised on Monday by the All Trade Unions, People’s Organisations and Visakha Ukku Parirakshana Porata Committee at the bus shelter near the Gandhi Statue Junction. Centurion University Vice-Chancellor Mr GSN Raju launched the campaign by signing on the huge banner.

Source - Strategic Research Institute

voda 6 april 2021 07:35

0

What Lies Ahead for Liberty’s Steel Plant in Whyalla?

The Guardian reported that the mood in the South Australian city Whyalla is one of cautious optimism, after steelworks in Whyalla has been hit by the collapse of Greensill Capital. The city has faced existential threats to its iron ore and steelmaking industries for decades, even before the Whyalla wipe out moment. Whyalla endured. But in 2016 the steelworks owner Arrium went bust. Employees volunteered for a 10% pay cut to make it a more attractive sale proposition and it worked. Mr Sanjeev Gupta, head of GFG Alliance, rode into town in 2017. He bought Arrium, saving thousands of jobs. Some people thought it was a saviour story, others that it was too good to be true. The big talk about green steel and renewables that Mr Gupta would fund provoked both relieved and sceptical reactions. There has been simmering suspicion about GFG’s financial foundation. But Whyalla people proverbially roll their eyes at the idea of their imminent demise. They’ve seen it all before.

The Australian Workers’ Union says the mood is one of very, very cautious optimism. Its South Australian branch secretary, Mr Peter Lamps, says that naturally the community and the workers are worried. But that worry is tempered by some hard numbers. In 2016 the industry was in fairly dire straits but since then the market has picked up. Mineral prices have boomed, work orders are flowing in and the place is making a profit. The order books are full

Source says the steelworks is so profitable now that even if Gupta completely withdraws, someone else will pick it up. Others say both state and federal governments are being diplomatic for now, but might change their tunes if the UK contagion of financial failure spread here. But the general vibe is that Whyalla has enough natural and human resources to be protected from the chaos in the UK.

Now, Australian Financial Review reported that Mr Sanjeev Gupta’s GFG Alliance is understood to be in talks to secure about AUD 500 million in new funding for its steel manufacturing operations at Whyalla.

Source - Strategic Research Institute

voda 6 april 2021 07:35

0

Analysts See Bright Outlook for Hyundai Steel for H1 of 2021

According to a report in Business Korea, Shinhan Investment Corp analysts expect Hyundai Steel to have post operating profit of KRW 121.7 billion (positive swing YoY) on sales of KRW 5.1 trillion (+9% YoY) for Q1 of 2021. Sales of steel products are estimated at 3 million tonnes, minus 90,000 tonnes QoQ, from blast furnaces and 1.92 million tonnes, minus 80,000 tonnes QoQ, from electric furnaces, which are better than the projection provided during the earnings call. While steel scrap prices rose sharply, rebar price gains were limited by the list price for rebars, causing operating profit to fall short of the consensus.

Analysts added “Earnings improvement should continue in 2Q21, led by increases in rebar list price and contract prices. The rebar list price is set based on the scrap price level of the previous quarter and market conditions. A surge in the feedstock price in Q1 should be factored into the list price in Q2. Scrap prices are estimated to have jumped by 30% QoQ in Q1. Rebar demand should continue to grow given brisk apartment presales since 2019. The prospects are positive for apartment presales this year.”

Source - Strategic Research Institute

voda 6 april 2021 07:36

0

Mechel Supplies Steel for Reconstruction of Rail Bridge inKurgan

Mechel Group's metal trading company Mechel-Service LLC supplied more than 380 tonnes of fittings for the reconstruction of the railway bridge in Kurgan. The length of the new overpass along Mashinostroiteley Avenue will be 500 meters. The new bridge is an extremely important project for the city. Residents of the Zaozerny and Ryabkovo micro districts n Rybinsky District of Krasnoyarsk Krai in Russia are forced to take bypass routes. The old overpass was in a worn out condition and did not meet modern requirements, because of this, in December 2018, traffic on it was limited.

To date, two spans, 22 wells have been installed at the facility & 724 meters of pipelines have been laid. During construction, rebar produced by the Chelyabinsk Metallurgical Plant is used. ChMK's rolled metal products will also be used for other types of work. Completion of construction is scheduled for the third quarter of 2021.

Source - Strategic Research Institute

voda 6 april 2021 07:36

0

5 Directors of Balasore Alloys Quit as Plant Remains Idle

Balasore Alloys recently announced that Mr Nikunj Pansari Director Finance & CFO has resigned from the directorship of the company with effect from 24 March 2021. Mr Pansari stated he tendered his resignation for various reasons. He said that he will not continue to serve Balasore Alloys as he was not paid salary for almost 18 months and the plant is also not operational due to power disconnection. He further said that the promoters have committed to infuse the fund in July 2020 but failed to fulfil their commitment and that the promoters have neither given any reason for not infusing fund nor given any fixed timeline for infusion of fund.

According to a report in Economic Times, four independent directors of Balasore Alloys Mr Rupanjana De, Mr Sujit Kumar Majumdar, Mr Kashi Prasad Khandelwal and Mr Susil Kumar Pal have resigned from the company, which is part of the Mr Pramod Mittal led Ispat Group, while its employees have written to the government complaining about non-payment of salaries.

The Odisha based ferro alloy producer's five furnaces with a total capacity to produce 150,000 tonnes of ferro alloys a year are lying idle, after the power supply was cut over non-payment of bills. The BSE has also suspended trading in its shares due to penal reasons.

Source - Strategic Research Institute

voda 6 april 2021 07:37

0

Web Domains Registrations Using Liberty E Mail under Investigation

It appears that British media, which probably could not find a chink in armour earlier, has gone whole hog after Mr Sanjeev Gupta since early March when reports started appearing about the fall of Greensill, a major fund provider to GFG Alliance. Financial Times reported that some companies have launched investigations after web domains resembling their own were registered with a Liberty House email address. The Financial Times discovered that the list includes gunvorsg.com (2016-03-17), concordresources.net (2017-04-20). The purpose of the inscriptions is unknown. It is not known if the corresponding websites have already been set up, but registering a domain allows the use of associated email addresses. While one of the world’s largest oil traders Gunvor declined to comment to FT, London based trading house Concord Resources has said it will send a cease and desist letter to Liberty House over the registration of concordresources.net.

Domain szmhgroups.com (2017-04-05) was registered, which looks like the szmh-group.com website of Salzgitter Mannesmann. Salzgitter Mannesmann said he considers use of the domain by external parties to be misleading and will investigate the matter to examine options to prevent misuse of the domain.

Liberty House’s email address was also used to register dozens of web domains for companies that the steel tycoon insisted on being independent. This gives further indications that a network of companies, nominally controlled by friends and business associates of the metal tycoon, could be deeply linked to Mr Gupta’s steel empire. The records include a web domain for UBG Commodities, which is owned by a close associate of Mr Gupta 74 year-old Cyprus-based businessman Mr Vladimir Delic. Another area is the AarTee Group, which is controlled by Mr Gupta’s long time partner Mr Ravi Trehan.

As per FT report “Most domain name registrations date is from 2015 to 2017, using the email address of Mr Hyder Razvi, a Gupta employee whose LinkedIn profile describes his work as a finance manager for a United Arab Emirates subsidiary. But, Mr Razvi said he had no knowledge of setting up domains.”

GFG Alliance said “We take these allegations very seriously and have opened a third party investigation into the matter.”

Source - Strategic Research Institute

voda 6 april 2021 07:37

0

CII Honours Tata Steel with Climate Action Program Award

Tata Steel has been recognised with the Climate Action Programme 2.0 Degrees Oriented Award by Confederation of Indian Industry in the Energy, Mining and Heavy Manufacturing category.

CAP 2.0 Degrees is a recognition and capability enhancement programme promoted by CII Centre for Excellence for Sustainable Development for businesses to become climate resilient. Based on a CII climate-maturity model and using the principles of business excellence framework, CAP 2.0 Degrees helps businesses to assess climate change related risks and opportunities and integrate the mitigation actions into their long-term strategies. It is a benchmark programme recognising Industry’s climate mitigation and adaptation initiatives with the purpose of cascading learning’s and encouraging quick scale up, thereby contributing to India’s climate goals.

Source - Strategic Research Institute

voda 6 april 2021 07:38

0

Jahama Highland Estate in Scotland was Part of Lochaber Deal

The Telegraph recently reported that Mr Sanjeev Gupta secured ownership of a 114,000 acre Jahama Highland Estates in Scotland, formerly known as the Alcan Estate, via an offshore company Isle of Man after he purchased it in a package deal with an aluminium smelter in Lochaber, the area surrounding Fort William. GFG acquired the estate in 2016 as part of a taxpayer-guaranteed deal to buy a smelter and associated hydropower plant for GBP 330 million from Rio Tinto. The Scottish government provided a 25-year guarantee, worth an estimated GBP 360 million and underpinned by the taxpayers from across the UK, with the promise that up to 2,000 jobs would be created. An alloy wheel factory was planned and then shelved amid claims of a downturn in the car industry.

Scottish National Party Leader & First Minister of Scotland Ms Nicola Sturgeon’s administration had said that it provided backing for the deal on condition that the assets would not be broken up. Scottish National Party forged ahead with the deal despite warnings by advisers to the businesses pension scheme trustees that it left UK taxpayers exposed to hundreds of millions of pounds of losses. Scotland’s Rural Economy Minister Mr Fergus Ewing last month repeated the claim that the taxpayer guarantee that underpinned Mr Gupta’s purchase of the Lochaber smelter prevented separation of the assets. He said “Our support, which we offered to any bidder with plans for long-term industrial operations of the Lochaber businesses, prevented break-up of the assets.”

Scottish National Party came under pressure in February after a Labour Member of the Scottish Parliament said that GFG had not delivered on its commitment to hand part of the estate to locals. Scottish Conservative Party’s Shadow Cabinet Secretary for Finance Mr Murdo Fraser said “These revelations add to a growing sense of unease around the terms of the deal struck by the SNP administration. We need to know whether this generous taxpayer-funded support was conditional on assets being preserved, as the SNP minister has suggested. If there has been any suspected breach of the terms, he must take whatever steps are necessary to protect public funds.”

Jahama Highland Estates boasts of the finest deer stalking ground in Great Britain alongside hunting for grouse and ducks. Claiming to have some of the toughest terrain in the UK, including the north face of Ben Nevis, the estate was used for Special Forces training during the Second World War.

Source - Strategic Research Institute

voda 6 april 2021 07:39

0

Arches of Iconic Chenab Bridge in J&K Joined

The Indian Railways has completed the Arch closure of the iconic Chenab Bridge, which is world’s highest railway bridge being constructed over Chenab River in Jammu and Kashmir at an estimated cost of INR 1,486 crores and is a part of the Udhampur-Srinagar-Baramulla Rail Link project. A 6 metre long last piece of steel structure was fitted at the highest point joining the two arms of the arch stretching from both the banks of the river. After completion of the arch work, removal of the stay cables, filling of the concrete in the arch rib, erection of the steel trestle, launching of the viaduct and track laying work will be taken up

This bridge is 1315 meter long and is the highest Railway Bridge in the world being 359 meter above the river bed level. Construction of the bridge involved the fabrication of 28,660 tonnes of steel, 1 million cubic meters of earthwork, 66,000 cubic meters of concrete and 26 kilometres motor able roads. Arch consists of steel boxes. Concrete will be filled in boxes of the Arch to improve stability. Approximately 584 kilometres of welding was done to join the different parts of structure. The estimated cost of the bridge is INR 1,486 crores

The bridge is designed for blast load in consultation with the Defence Research and Development Organisation. It can remain operational at a restricted speed of 30 kilometers per hour after removal of one pier or trestle. The bridge is designed to withstand high wind speed of up to 266 kilometers per hour and earthquake forces of highest intensity. Sophisticated Tekla software was used for structural detailing and structural steel is suitable for minus 10 degree celcus to 40 degree celcus temperature. Indian Railways used phased array ultrasonic machines and established a NABL-accredited lab at the site for weld testing.

Source - Strategic Research Institute

voda 7 april 2021 07:10

0

Tata Steel India Reports Highest Ever Annual Deliveries in 2020-21

Tata Steel India crude steel production was lower by 7%YoY at 16.93 million tonnes in FY 2020-21 primarily due to the disruption caused by COVID-19 pandemic in H1 of 2020-21. But, Tata Steel India achieved highest ever annual delivery volume of 17.30 million tonnes in FY 2020-21 up 2% YoY, despite the COVID-19 pandemic induced disruption in 1HFY21. Figures for Tata Steel India include Tata Steel Standalone, Tata Steel BSL and Tata Steel Long Products

Tata Steel Europe liquid steel production and sales volume for FY 2020-21 were lower on YoY basis due to the impact of the pandemic. Tata Steel liquid steel production in FY 2020-21 reduced by 7% YoY to 9.55 million tonnes while sales was down by 5% YoY to 8.85 million tonnes

Tata Steel India crude steel production in Q4 of FY 2020-21 was flat at 4.75 million tonnes while delivery volume of was up by 16% YoY to 4.67 million tonnes. Domestic deliveries increased 22% YoY to 4.17 million tonnes on the back of robust marketing network and improved market conditions. Exports were at 11% of overall deliveries. Automotive & Special Products segment deliveries grew by 13% QoQ and 57% YoY to 0.78 million tonnes in Q4 of FY 2020-21. Branded Products & Retail segment deliveries grew 3% QoQ and 23% YoY to 1.45 million tonnes in Q4 of FY 202-21. Industrial Products & Projects segment deliveries grew by 11% YoY to 1.59 million tonnes in Q4 of FY 2020-21.

Source - Strategic Research Institute

voda 7 april 2021 07:10

0

Liberty Steel Resumes Partial Production at Rotherham Plant

British media reported that Liberty Steel has resumed partial production at its Rotherham plant on 6 April 2021 with some furlough staff since intermittent operations that started on March 12. A Liberty Steel spokesman said “Liberty Steel has today resumed partial production at its Rotherham plant following a period of intermittent operations since March 12. We are grateful for the support from our customers and suppliers in enabling the restart and in supporting our self-help measures such as matching our current stock to customer orders, and working with customers to achieve terms that will bring in cash earlier.”

Liberty Steel spokesman added “We have also agreed some a few manufacturing campaigns in other units, including the Stocksbridge furnace, and the Stocksbridge, Thrybergh and Brinsworth rolling mills. The group continues to work on solutions to provide additional working capital facilities to replace the funding gap left by Greensill, and meantime is making use of the furlough scheme.”

Liberty employs 5,000 in the UK including 1,600 in Rotherham and Stocksbridge where most workers were put on furlough on March 12 to save money.

Source - Strategic Research Institute

voda 7 april 2021 07:11

0

JSPL to Sell Jindal Power to Cut Debt - ET

Economic Times, citing several people in the know, reported that Jindal Steel & Power will sell its entire stake in the power subsidiary Jindal Power Ltd in order to bring down its overall debt of INR 28,000 crore and reduce carbon emissions within the group. Sources told ET “The divestment is at a reasonably advanced process, in the sense, the buyer hasn’t been decided yet, but we do know that there is enough interest from more than one buyer; we have been receiving EoIs. A deal may be concluded by the end of this month.”

Sources added “The company has talked about becoming net debt-free in its last annual report FY20, and with this divestment, the debt levels will come down substantially.”

Jindal Power has three power plants located at Tamnar in Chhattisgarh with a total power generation capacity of 3,400 megawatts. While JPL has been a profitable business, deallocation of coal block and lack of power purchase agreements in India over the past few years has seen the majority of the asset being stranded. In 2019, Jindal Power decided to divest a 1000MW thermal power plant and JSW Energy was the preferred buyer. However, the deal did not go through as some conditions in the purchase agreement were not met.

Source - Strategic Research Institute

voda 7 april 2021 07:12

0

JFE Steel to Expand Electrical Steel Sheet Production Capacity

JFE Steel Corporation has announced that it will expand the electrical steel sheet production capacity of its West Japan Works in Kurashiki District. The plan calls for doubling the facility’s existing capacity for producing high-grade non-oriented electrical steel sheet. Construction, which will cost approximately 49.0 billion yen, is expected to finish in time for production to start in the first half of fiscal 2024. The electrification of automobiles is accelerating amid the global push toward carbon neutrality. In response, JFE Steel has decided to expand capacity at Kurashiki to accommodate the growing demand for high-grade non-oriented electrical steel sheet products, which are essential for the production of motors that drive electric vehicles.

Electrical steel sheet, which contains additives such as silicon and aluminium, offers excellent magnetic properties such as high magnetic flux density and low iron loss. Two types of sheet are available. Non-oriented electrical steel sheet, which offers excellent magnetic properties that are nearly uniform in all directions, is used in the iron cores of motors. Grain-oriented electrical steel sheet, which exhibits superior magnetic properties in a single (rolling) direction, is used in the iron cores of power- and distribution transformers.

JFE Steel expects to continue expanding its supply capacity for high-grade non-oriented and grain-oriented electrical steel sheet in anticipation of further increases in worldwide demand as automobiles become more electric, energy use becomes more efficient, and renewable energy is adopted more widely.

Source - Strategic Research Institute

voda 7 april 2021 07:15

0

Credit Suisse Files Winding Up Petition for Whyalla Steel Mill

The Sydney Morning Herald reported that investment bank Credit Suisse has launched legal action that could potentially put the Whyalla steel mill and other steel assets owned by billionaire tycoon Mr Sanjeev Gupta into liquidation. Citigroup has filed an application on behalf of Credit Suisse in the New South Wales Supreme Court seeking to wind up two entities that are a part of Mr Gupta’s Australian business empire over debts associated with failed financier Greensill Capital. There are two defendants, the first is OneSteel Manufacturing Pty Ltd (trading as Liberty Primary Steel) and the second is Tahmoor Coal Pty Ltd. The wind up application includes consent from McGrathNicol for it to act as liquidator. A first hearing for the application will be on May 6. If successful the entities that own the Whyalla and the Tahmoor coal asset will fall into liquidation, an outcome feared by the unions covering more than 6,000 workers across both businesses.

Australian Financial Review separately reported that GFG Alliance, after the court action by Credit Suisse, said that a proposed refinancing of the Whyalla steelworks and Tahmoor coal operations in NSW is well advanced, and the proposals being worked through would be enough to pay all creditors to those two businesses. GFG said in a statement “GFG Alliance’s Australian Mining and Primary Steel business, which includes Onesteel Manufacturing Pty Ltd and Tahmoor Coal Pty Ltd confirms it has received multiple offers of finance from large investment funds and is in advanced due diligence. The term sheets as currently proposed would provide enough cash to repay the creditors of MPS. GFG Alliance expects the confirmatory due diligence to be complete within weeks before a final offer is accepted.”

It is understood the refinancing proposals are for a $400 million-plus facility which had previously been provided by the now collapsed Greensill Capital.

The NSW Supreme Court action follows a similar winding up application in London on behalf of Credit Suisse that was also filed by Citigroup. Citigroup is the trustee of Greensill’s bonds which were part of Greensill’s complex financing arrangements with Credit Suisse.

OneSteel Manufacturing operates the Whyalla steelworks that employs about 1500 people and is the lifeblood of the regional town in South Australia of 22,000 people, which is about 380 kilometres north of Adelaide. The steelworks was acquired by Mr Gupta in mid-2017, rescuing the collapsed Arrium Ltd business, which had been in administration for 16 months under KordaMentha. Mr Gupta also bought the structural steel operations on the east coast of Australia, now known as Infrabuild, in the same transaction, giving him ownership of two mini steel mills in outer Sydney and Melbourne, a national steel recycling business and a series of structural steel distribution outlets.

Source - Strategic Research Institute

voda 7 april 2021 07:15

0

NLMK Testing a New Anti-Corrosion Coating TsAM

NLMK Group has begun testing zinc-aluminium-magnesium coating TsAM for cold-rolled products in cooperation with the Institute of Physical Chemistry and Electrochemistry of the Russian Academy of Sciences. The new coating, in comparison with zinc, makes rolled products three times more resistant to corrosion, and also protects the metal from cracking during machining due to its high ductility. ZAM-coated rolled steel was developed by NLMK Group R&D specialists at the company's research centers in Belgium and Russia. During the tests, samples of coated rolled products will be exposed to an increased content of sulfur dioxide in the air, corrosive effects of sea salt aerosol, high air humidity at low temperatures.

One of the areas of application of the new coating is the production of lightweight steel thin-walled structures. The structure of the coating minimizes the effect of oxygen and moisture on steel, which allows for better protection of building structures from corrosion. In addition, ZAM-coated steel is used as a base in the production of polymer-coated rolled products, ensuring the durability of products from it up to 50 years.

The tests are carried out in accordance with Russian and international standards; the new product is planned to be launched on the market in 2022.

Source - Strategic Research Institute

voda 7 april 2021 07:16

0

GFG Alliance Debt Approaching USD 7 Billion - Argus

Argus media reported that, according to draft documents drawn up by advisers that Argus obtained late last week GFG Alliance has total debt of around USD 6.8 billion and an equity value of just USD 123 million.

Liberty Steel East Europe – USD 2.8 billion debt and an equity value of minus USD 1.6 billion

Liberty Commodities – USD 1.1 billion debt

UK business – USD 843 million

Infrabuild – USD 403 million debt and an equity value of USD 2.1 billon

Liberty is trying to raise cash against less indebted and higher equity assets, such as long steel products manufacturer Infrabuild, while professional services firm Alvarez and Marsal works on a restructuring plan.

Source - Strategic Research Institute

Vertraagd	3 mei 2024 17:35
Koers	24,300
Verschil	-0,030 (-0,12%)
Hoog	24,680
Laag	24,160
Volume	1.804.974
Volume gemiddeld	0
Volume gisteren	3.748.681

02 mei	Beursblik: resultaten ArcelorMittal b...	1
02 mei	AEX gaat hogere opening tegemoet, ter...	4
02 mei	Meer omzet en hoger resultaat bij Arc...
01 mei	Lagere winst ArcelorMittal verwacht
23 apr	Mondiale staalproductie daalt toch weer
16 apr	Deutsche Bank haalt ArcelorMittal van...	1
12 apr	Video: cyclische aandelen bieden kansen
09 apr	World Steel Organisation ziet vraag n...
22 mrt	Mondiale staalproductie in de lift
12 mrt	ArcelorMittal neemt groot belang in V...

Arcelor Mittal « Terug naar discussie overzicht

Nieuws en info hier plaatsen (deel 4)

Meedoen aan de discussie?

Direct naar Forum

Detail

ArcelorMittal nieuws meer