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voda 16 april 2021 10:53

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3 Top Officials at Kunming Steel under Graft Probe

Caixin reported that 3 top officials at the state-owned Kunming Iron and Steel Holding Co Ltd in Southwest China have fallen under corruption investigations. Yunnan province branch of the Central Commission for Discipline Inspection said that Mr Du Lujun, the company’s chairman and Communist Party chief, is being probed for alleged serious violations of party discipline and law.

Mr Li Ping, vice president and a member of the Communist Party committee, and the company’s Vice President Mr He Zhijun, have surrendered to police amid similar allegations.

Source - Strategic Research Institute

voda 16 april 2021 10:54

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ZISCO Floats EoI Seeking Investors for Revival

ZBC News reported that Zimbabwe’s state-owned iron and steel company Zimbabwe Iron and Steel Company has invited new investors to help revive operations at the company that has been the target of interest from Indian and Chinese investors in the past, a company document showed. ZISCO acting chairman Mr Martin Manuhwa said that the firm is again looking for new investors who would be interested in availing funds to resuscitate the company and interested investors should submit their expression of interest by April 30. Successful investors would then be invited to participate in the bidding process for the funding.

India’s Essar Group Essar Africa Holdings has agreed to invest up to USD 4 billion in Zimbabwe Iron and Steel Company in 2011 but the deal collapsed. An agreement by China’s R&F to invest USD 2 billion in 2017 also fell apart after Harare authorities sought to renegotiate the deal.

ZISCO is 89% owned by the government. ZISCO owns an iron ore mining unit with an installed capacity of 2.16 million tonnes of ore a year as well as a wire products company.

Source - Strategic Research Institute

voda 16 april 2021 10:54

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Tata Steel Europe Adds EUR12 Carbon Surcharge

Argus reported that Tata Steel Europe is introducing a EUR 12 per tonne carbon surcharge for all new steel contracts in the UK and Europe with immediate effect. The surcharge is designed to help the company buy the future carbon emissions allowances it will need. Prompt emissions allowance costs have increased dramatically over the past year, from a low of EUR 15.47 per tonne on 23 March 2020 to EUR 43.56 per tonne on 9 April 2021 The surcharge comes amid a current tightness in the steel market and rising coil prices since the last northern hemisphere summer. Some buyers have already accepted the surcharge, although they have little choice given the lack of alternatives in the marketplace. Other steel mills are likely to follow suit and are currently in discussions with their customers.

Tata Steel Europe's emissions per tonne of crude steel were 1.98 in 2019-20, according to its annual report, with the current cost of its emissions close to the surcharge level.

Source - Strategic Research Institute

voda 16 april 2021 10:57

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SAIL RSP Super Specialty Hospital at Rourkela Turned Covid Center

Steel Authority of India Limited announced that in wake of rising COVID19 cases in Odisha, SAIL Super Specialty Hospital at Rourkela has been designated as COVID-19 care hospital. The 60 bedded ICU facility of SAIL-RSP will be used for COVID-19 care. This hospital will further augment the treatment facilities for Covid patients in the state.

Ispat Post Graduate Institute and 200 beds Super Specialty Hospital of SAIL Rourkela Steel Plant was inaugurated on 21st March 2021. The Hospital has Super-Speciality facilities for Neurology, Neuro-Surgery, Cardiology, Cardio - thoracic & vascular surgery and Nephrology. This hospital is also adorned with avant-garde medical equipment like MRI 3 Tesla, CT scan 256 slice, 2 Cath Labs (uniplane & biplane), CRRT machine besides having five modular Operation Theatre fitted with equipment having latest technology.

Steel Authority of India Limited SAIL has stood shoulder to shoulder in fighting the pandemic since its onset last year. A COVID-19 testing facility was also set up at the SAIL-Rourkela Steel Plant’s Ispat General Hospital which has been functioning since then and contributing to Odisha’s fight against the pandemic.

Source - Strategic Research Institute

voda 16 april 2021 18:33

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Uitgelicht: fanmail voor Aperam

FONDS KOERS VERSCHIL VERSCHIL % BEURS
Aperam
43,88 0,88 2,05 % Euronext Amsterdam

(ABM FN-Dow Jones) Aperam heeft afgelopen week fanmail van verschillende analisten gekregen.

De koersdoelen werden in aanloop naar de kwartaalcijfers opwaarts bijgesteld en beleggers reageerden positief. Het aandeel sloot de week af op 43,88 euro, ofwel een stijging van 3,5 procent op weekbasis.

ING verhoogde het koersdoel voor Aperam maandag van 38,00 naar 46,00 euro, Deutsche Bank dinsdag van 36,00 naar 40,00 euro en Jefferies woensdag van 37,00 naar 40,00 euro. ING hanteert een koopadvies, terwijl de andere twee een Houden advies hebben.

Eerste kwartaal

Aperam verwacht voor de eerste drie maanden van dit jaar een verdere stijging van de aangepaste EBITDA op kwartaalbasis met een stabiele nettoschuld.

In het vierde kwartaal van vorig jaar behaalde Aperam een aangepaste EBITDA van 109 miljoen euro en kwam de schuld uit op 67 miljoen euro.

In het eerste kwartaal van 2021 heeft Aperam volgens Jefferies vermoedelijk een aangepaste EBITDA van 125 miljoen euro gerealiseerd, een stijging van circa 15 procent op kwartaalbasis. Dat zou wel ruim minder zijn dan de 143 miljoen euro waarop de consensus mikt. De deelnemende analisten rekenen op een aangepaste EBITDA van ten minste 123 miljoen euro en op maximaal 169 miljoen euro.

In het tweede kwartaal ziet analist Alan Pence van Jefferies de aangepaste EBITDA stijgen naar 136 miljoen euro, dankzij een gunstig prijsklimaat en een sterk herstel in Brazilië.

Analisten van Deutsche Bank verwachten dat Aperam in het eerste kwartaal een sterke winstgevendheid heeft laten zien, dankzij hogere prijzen en dito volumes. Ook was er volgens de bank sprake van minder import van goedkoop roestvast staal en hebben klanten hun voorraden weer wat aangevuld.

“Aperam blijft een kwaliteitsaandeel binnen de staalsector en we sluiten niet uit dat het bedrijf de verwachtingen voor het eerste kwartaal overtreft”, aldus Deutsche Bank.

Volgens ING is er inderdaad opwaarts potentieel ten opzichte van de analistenconsensus. Analist Stijn Demeester noemt het aandeel nog altijd "aantrekkelijk" gewaardeerd en wees op het dividendrendement van 4 procent en een rendement op de vrije kasstroom van 10 procent in 2022.

De resultaten in Europa zullen sterk blijven, verwacht analist Bastian Synagowitz van Deutsche Bank, dankzij het heropstarten van de economie, terwijl in het bijzonder de activiteiten in Brazilië fors zijn aangetrokken.

Deutsche Bank verhoogde de ramingen voor de EBITDA in 2021 tot 2023 met 2 tot 15 procent op basis van de verbeterde vooruitzichten voor de prijzen en volumes. Ook ING verhoogde zijn ramingen.

Deutsche Bank merkte op het met haar ramingen 10 procent boven de consensus zit voor heel 2021, maar dat de ramingen voor 2022 en 2023 wel in lijn zijn met de gemiddelde analistenverwachting.

Jefferies verwacht dat de Europese staalprijzen een steuntje in de rug blijven krijgen, door een sterke vraag in combinatie met lage voorraden. Volgens de Amerikaanse bank zijn er geen signalen dat de krapte in de markt op de korte termijn vermindert.

Aperam opent op 7 mei de boeken.

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

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

voda 19 april 2021 08:17

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Indian Steel Makers Divert Oxygen for Medical Use to Fight COVID19

With unprecedented explosion in new reported COVID19 cases last week (12-Apr 160,694, 13-Apr 185,248, 14-Apr 199,569, 15-Apr 216,850, 16-Apr 233,943, 17-Apr 260,778 & 18-Apr 275,306), India has fallen in never seen before health emergency crisis, with media reports suggesting severe shortages of testing, beds, lifesaving drugs & oxygen in most parts of the country. As a result, to mitigate liquid medical oxygen shortage, crucial medical requirement for the treatment of coronavirus patients, Indian government on Sunday decided to restrict oxygen supply to iindustries in an attempt to divert supplies for medical use, while prohibiting flow to other sectors. India’s Health secretary Mr Rajesh Bhushan wrote to states on Sunday saying industries should consider measures such as importing oxygen or setting up their own air separator units to meet requirements. He said the move is necessitated as demand for medical oxygen had surged to almost 60% of the daily oxygen production and is expected to rise further. A central control room has been set up which is coordinating with states and matching availability with companies.

According to report in Business Standard, India’s Department for Promotion of Industry and Internal Trade has limited the industrial use of oxygen to only nine key sectors, including steel plants, petroleum refineries, pharmaceuticals, food and water purification, among others. DPIIT said "The supply of oxygen for industrial purposes by manufacturers and suppliers is prohibited forthwith from 22.04.2021 till further orders. The surplus oxygen available due to the temporary restriction is expected to free up its use as medical oxygen.”

Union Steel Minister Mr Dharmendra Pradhan on Friday held a meeting with senior officials of the ministry to augment availability of medical oxygen in the country. The ministry Tweeted “28 oxygen plants located in the steel plants of both public and private sectors are supplying about 1,500 tonne of medical oxygen every day. An additional stock of 30,000 tonnes, including the safety stock, is being made available for medical use.”

As per media reports, Indian primary steel makers are already supplying oxygen to various states by diverting oxygen used in the making of steel for medical usage

Tata Steel - 300 tonnes per day

JSW Steel - 185 tonne per day

JSPL – 50-100 tonnes per day

ArcelorMittal - 200 tonnes per day

SAIL has supplied more than 33,000 tonnes of LMO since April 2020

Meanwhile, the domestic steel industry is gearing up for a slightly muted demand as auto and consumer durables segments are expected to take a hit going ahead. at Institute for Steel Development and Growth Secretary General Mr PK Sen told BS “Demand from auto and white goods is not expected to pick up. It will not a be a situation as bad as last year since both companies and consumers have kind of learned to tide over the situation, but overall it will be a muted demand atleast in the large cities. Even this year, demand from rural areas and from small cities and towns will be relatively higher compared to metros as the pandemic has not had much impact in those areas.”

Source - Strategic Research Institute

voda 19 april 2021 08:18

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POSCO C&C to End Myanmar Military Backed Joint Venture

South Korean steel giant POSCO’s affiliate POSCO Coated & Color Steel Co Ltd plans to end a joint venture with a military controlled firm Myanmar Economic Holdings Public Co Ltd following criticism that its business has benefited military leaders who have violently suppressed pro-democracy protests there. POSCO C&C owns 70% of its joint venture with MEHL, Myanmar POSCO C&C. POSCO C&C official Mr Min Ji-hyun said “The Company has informed MEHL it wants to buy the Myanmar firm’s 30% stake so that it can continue operating the venture with full ownership. MEHL is yet to respond to POSCO C&C’s offer.”

Amnesty International’s Business and Human Rights Researcher Montse Ferrer said “POSCO’s decision to cut this tie is the latest blow to Myanmar’s military, which continues to impose its rule through murder and heinous human rights violations. Since staging a coup in February, the military has reportedly killed around 700 people, including dozens of children. Given the scale of POSCO’s operations in Myanmar, this announcement is a major step forward. It increases the military authorities’ isolation, and adds to the growing pressure on other companies to end their business links with MEHL. POSCO is yet to announce the full details of its plans to disengage from its steel venture and whether it will continue to pay lease payments to MEHL. The company also has yet to address its broader footprint in Myanmar in other sectors. However, this is still a warning sign to all companies and investors who have business partnerships with MEHL. All of these businesses should do the right thing and responsibly cut these links immediately.”

On 24 March 2021, the UN Human Rights Council passed a resolution on the human rights situation in Myanmar by consensus, which highlighted that no company active in Myanmar or with business links to Myanmar should do business with the military (also known as the Tatmadaw) or one of their business entities, until and unless those businesses are restructured and transformed.

Source - Strategic Research Institute

voda 19 april 2021 08:18

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Czech PM Not Allow CO2 Certificates Transfer from Liberty Ostrava

Czech media CTK reported that by Czech Republic Prime Minister Mr Andrej Babiš, after talks with the company's management, announced tha the management of the Liberty Ostrava has promised not to lend emission allowances to a Romanian sister company Liberty Galati. He told "Here was the intention to lend emission allowances, which are the company's assets, to a Romanian sister. We don't like it. We have strongly asked management that we do not want this. The group does not consolidate, so we do not know the transactions within the group. When the investor entered, he promised to invest. We insist on that. The company is doing well. The point is for what she earned to stay in the Czech Republic. So that this money, even in the form of emission allowances, does not go abroad.”

According to the Czech Minister of Industry and Trade Mr Karel Havlícek, the Ostrava smelter owns allowances worth around 5.6 billion crowns (EUR 216 million). He said "We perceive allowances as a long-term asset, they can serve as a source for future investments or as a cash insurance if the company gets into trouble. If allowances remain, there is a presumption that the company can operate.

In this context, the Liberty Ostrava unions on April 13 have declared a strike readiness at least until the end of April and the promise is also seen by trade unions as an important step forward. Trade union OS KOVO Liberty Czech Republic Chairman Mr Petr Slanina said "We will leave the betting standby for now. The critical deadline for the withdrawal of allowances is the end of April. We will leave the strike readiness until the end of April. If everything that has been said here is then confirmed, we will cancel it.”

GFG spokesperson said “LIBERTY Ostrava was pleased to welcome Prime Minister Babiš and his team to the steelworks this morning and were pleased that they reiterated their support for the plant's transformational projects. We also confirmed that the plant's CO2 certificates will continue to be used for the benefit of LIBERTY Ostrava."

On 7 April, Romanian media Ziarul Financiar had reported that GFG Alliance’s Liberty Steel’s Romanian subsidiary Liberty Galati urgently needs EUR 100 million to purchase the CO2 certificates that it sold last year and is reportedly in talks with sister company Liberty Ostrava from the Czech Republic to obtain the certificates that the Czechs did not use. Under the ETS scheme operated by the European Union, Liberty Galati received some EUR 100 million worth of CO2 certificates. However, the company sold them, planning to repurchase them from the market this April when it has to return to the EU the certificates corresponding to the previous year's CO2 emissions.

There are separate media reports that Czech union OS KOVO is also trying to find the whereabouts of EUR 77 million in state-backed Covid-19 loans, which it says the mill is paying interest on but has not received.

Source - Strategic Research Institute

voda 19 april 2021 08:21

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US Steel Caucus Urges for Buy America in US Infrastructure Plan

NW Times reported that US Congressional Steel Caucus has urged US House of Representatives leadership to support Buy America policies in any infrastructure and recovery bills. US Congressional Steel Caucus Co Chairman Northwest Indiana congressman Mr Frank J Mrvan spoke in the US House chamber “Any federal investment in our public infrastructure must be used to support American workers and American steel and manufacturing industries. I look forward to continuing to work with the House leaders and members of the Steel Caucus to expand and strengthen Buy America requirements in forthcoming legislation to invest in our economic recovery.”

More than 50 members of the Congressional Steel Caucus have sent a letter to Speaker Ms Nancy Pelosi and Minority Leader Mr Kevin McCarthy saying that as the House works to enact measures that will support a robust recovery, it is essential that public infrastructure investments be directed to US production and American workers throughout the steelmaking supply chain. Co Chairman Mr Conor Lamb said “Rebuilding our infrastructure starts with a commitment to American workers. Buy America is a common sense commitment to our critical domestic industries, including steel and manufacturing that provide family-supporting jobs in districts like mine instead of sending them overseas to China.”

The letter noted America's steel industry has been responsible for supplying highways, bridges, rail, airport, public transit, energy construction and other vital infrastructure all across the United States for more than a century. But it noted US steel mills face unprecedented threats from subsidized and dumped imports as a result of global steel overcapacity, especially from China's state-run steel industry that produces more steel than market forces would justify. The Congressional Steel Caucus called for closing any loopholes that would allow tax dollars to be spent on foreign-made steel and called for an all manufacturing processes standard that would ensure all steel used in federal infrastructure projects would be made by American steelworkers at steel mills in the United States.

The USD 2 trillion infrastructure plan proposed by President Mr Joe Biden in March would increase steel demand in the US and help prop up sagging private sector non residential investment. The eight-year plan, which includes broader initiatives such as high speed internet connectivity alongside traditional infrastructure projects, would put about USD 200 billion into road and rail projects, which would lift demand for long steel products such as rebar and wire rod. The increased demand could also prop up sagging investments by private industry in non residential construction. Private non residential construction consists of office buildings, hotels, and other steel-consuming structures. Public infrastructure like roads and bridges could also consume some of the steel that the private sector is no longer using.

Source - Strategic Research Institute

Bijlage:

voda 19 april 2021 08:25

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Steel Consumption in Latin America Continues to Improve

Latin American steel association Alacero announced that steel consumption in Latin America continues to grow due to the recovery in demand, the increase in the industrial production and manufacturing index and the rebuilding of inventories, both of final consumers and of the distribution chain. Steel consumption in January 2021 rose for the ninth consecutive month, 0.8% compared to the previous month, totalling 6.09 million tonnes, that is, 12.7% higher than that of January 2020; with which the level prior to the start of the Covid-19 pandemic is recovered. Alacero said “The short-term prospects look favourable for the strengthening of the demand for steel in the region. A few days ago, the International Monetary Fund released the April update of its economic forecasts for this year, indicating that the global economy will grow at 6%, developed countries at 5.1% and emerging economies at 6.7 % and Latin America at 4.6%. Brazil stands out in the region, with a rate of 3.7%, and Mexico, with 5%.”

Brazil was the country that contributed the most to the improvement in the performance of steel demand with an increase of 8.8%, the fifth consecutive month above 2 million tonnes per month, a level that had not occurred since June 2018. Argentina also registered a 10.8% increase in January consumption compared to December 2020.

Imports registered an increase of 5.7% compared to January 2020; On the other hand, exports for the month were reduced by 27.3% in relation to the same period last year, due to the fact that the industry is focusing on supplying the local market as a priority; This last result was 12.4% below December last year, and represented only 11.4% of regional production in January, below its share of 15.6% in 2020.

As a consequence of this performance, the trade balance had a worsening of the deficit, which had already been present in November and December. In January, imports represented 35% of regional consumption, compared to 33% observed during 2020.

The accumulated production of crude steel until February was 10.21 million tonnes, representing an increase of 3.9% compared to the same period in 2020. The accumulated production of rolled steel grew 3.4%, reaching 4.18 million tonnes in February, 2% more than the previous month.

Source - Strategic Research Institute

voda 19 april 2021 08:28

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IPPR North Research Outlines Green Steel Potential in North UK

The leading think-tank for the north of England Institute for Public Policy Research has published a blueprint to transform the North’s steel industry into a world leading, job generating, and planet protecting industry of the future. Researchers have found that a nationwide commitment to, and investment in decarbonising the steel industry in the North could help the industry become net zero by 2036, at the same time as levelling up the regional and national economy by saving around 12,000 jobs directly across the region, and a further 20,000-27,000 jobs in the supply chain across the UK. To achieve a greener industry, Institute for Public Policy Research North recommends a strategy that drives innovation by harnessing the potential of electrification, carbon capture storage, and hydrogen technologies. In fact, at least a further 40,000 energy generation and fuel supply jobs could be created in these industries across the North by the early 2030s.

The UK steel industry is of national strategic importance with over one-third of the industry’s jobs based in the North, in places like South Yorkshire, Teesside, and the Humber, meaning that the North has what it takes to lead the UK, and the world, in the development and production of green steel. Researchers said that UK must act fast to seize the opportunity to recast steel as an industry of the future and become a competitive world leader in green steel technologies. They recommend that the steel industry, UK government, northern leaders and trade unions work together to plan for the future of the industry, and that the public and private sector invest in steel as part of a post-Covid green stimulus. This investment would include a ramping up of the important R&D innovation already happening in the North, bridging the long-standing funding gap between the North and the South East.

Research details how the decarbonising steel in the North will require significant annual investment to develop new technologies and encourage uptake. The costs would need to be met by the industry and government, both playing their part. Annual investment would be needed to help cover costs of around GBP 150 million a year up to the 2030s, before rising to GBP 300 million by 2035 and failing to £267m by 2050. Treasury investment would decrease as time goes on. Researchers say that this investment in achieving net zero will “more than deliver for all” and that the path to net zero will support a UK wide industry that could take advantage of future market opportunities worth GBP 3.8 billion a year by 2030.

Source - Strategic Research Institute

voda 19 april 2021 08:28

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Liberty Steel Got Grants after Start of Greensill Probe in October

The Mail on Sunday reported that Liberty Steel received Government grants worth GBP 276,245 even after its lender Greensill Capital came under investigation for taxpayer-backed loans handed to the steel group. Documents seen by The Mail on Sunday show Innovate UK, a Government agency, and the Welsh Government gave the money after the Treasury launched an investigation into Greensill for supplying tens of millions in Government-backed loans to Gupta entities on October 9.

The grants were approved on October 20 as part of Wales's GBP 500million Economic Resilience Fund. Innovate UK approved a grant of GBP 95,245 to Liberty Powder Metals on December 1. The Welsh Government gave Liberty's Newport plant a GBP 132,000 grant to save 132 jobs, while the Tredegar plant was given GBP 49,000 to save 49 jobs.

Innovate UK said its grants were checked by independent experts, and that the award was made when the agency was certain Liberty was solvent. The Welsh Government said its funding schemes had provided essential support for firms.

Source - Strategic Research Institute

voda 19 april 2021 08:29

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US ITC Affirms Injury from Steel Cylinders Imports from China

The US International Trade Commission has determined that unfairly traded imports of DOT-39 non-refillable steel cylinders from China have materially injured Worthington Industries. These cylinders deliver gases that are critical for HVAC and refrigeration and service the construction industry. The ITC’s affirmative injury determination will result in the US Department of Commerce publishing antidumping and countervailing duty orders on non-refillable cylinder imports from China, expected in early May, requiring importers of these cylinders to pay duties ranging from 82% - 288%.

Product Description: The non-refillable steel cylinders covered by these investigations are seamed (welded or brazed) and are produced to meet the requirements of US Department of Transportation Specification 39, TransportCanada Specification 39M, or United Nations pressure receptacle standard ISO 11118. The subject non-refillable steel cylinders are portable and range from 300-cubic inch (4.9 liter) water capacity to 1,526-cubic inch (25 liter) water capacity. The subject non-refillable steel cylinders may be imported with or without a valve and/or pressure-release device but are unfilled at the time of importation. Specifically excluded are seamless non-refillable steel cylinders.

Status of Proceedings:

1. Type of investigations: Final antidumping and countervailing duty investigations.

2. Petitioners: Worthington Industries Inc, Columbus, OH.

3. USITC Institution Date: March 27, 2020.

4. USITC Hearing Date: March 11, 2021.

5. USITC Vote Date: April 16, 2021.

6. USITC Notification to Commerce Date: May 5, 2021.

Worthington Industries President and CEO Andy Rose said “We thank the International Trade Commission for its hard work and careful attention to this investigation. The ITC’s affirmative finding is vital to restoring fair market conditions, ensuring the ongoing manufacture of this product by our employees in the United States and will result in more high-quality jobs and expanded production of this essential product.”

Non-refillable steel cylinders are used to store, transport and deliver refrigerant gases, and other products such as foam insulation and spray adhesives. These cylinders are critical to the retail sector, HVAC and construction industries.

Source - Strategic Research Institute

voda 19 april 2021 08:30

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JSPL Completes Sale of Jindal Shadeed Iron & Steel to Vulcan Steel

Jindal Steel and Power Ltd has completed the divestment of its majority stake in Oman based subsidiary Jindal Shadeed Iron and Steel LLC. Jindal Steel and Power Ltd informed BSE “This is in relation to our earlier intimation dated September 2, 2020 regarding divestment of 486,999 shares representing 48.99% of the share capital of Jindal Shadeed Iron and Steel LLC Oman, step-down material subsidiary of the Company, by way of sale of shares by Jindal Steel & Power (Mauritius) Limited, wholly owned subsidiary of the Company, to Vulcan Steel, a Mauritius based private limited company. Jindal Steel & Power (Mauritius) Limited has sold the balance shareholding held by it, representing 51 % of the share capital of Jindal Shadeed Iron and Steel Oman, to Vulcan Steel in the second and final tranche, in accordance with the Shareholder approval.”

Jindal Shadeed, located strategically in the ancient port city of Sohar, is set over a 120-Hectare prime property, just 60-metres from the shoreline and adjacent to the busy Muscat-Dubai highway.

Production Facilities

1. Direct Reduced Iron Plant supplied by Midrex Technologies USA, with a capacity of 1.5 million tonne per annum of HBI 0.4 million tonne per annum and HDRI 1.1 million tonne per annum. DR Plant has four briquetting machines for the production of hot briquetted iron and is facilitated with gravity feeding technology for transferring HDRI directly to Electric Arc Furnace of Steel melt shop.

2. Steel Melt Shop comprises of 200 tonne Electric Arc Furnace, 200 tonne Ladle Refining Furnace, 200 tonne Vacuum Degassing Unit and 8 strand Combi. Continuous Casting Machine to produce Square and round Billets

3. Rolling Mill is capable of producing 1.4 million tonne per annum rebars in diameter ranging from 8mm to 40mm

Source - Strategic Research Institute

voda 19 april 2021 08:33

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Tata Steel Mining to Increase Ferrochrome Capacity to 900KT

Tata Steel Limited’s 100% subsidiary Tata Steel Mining Limited, formerly known as TS Alloys Limited, is firming up plans for aggressive growth in its ferrochrome manufacturing capacity in India from 450,000 tonnes per annum at present to 900,000 tonnes per annum in the near future. Tata Steel Vice President Raw Materials & Chairperson of Tata Steel Mining Limited Mr DB Sundara Ramam said “We will take the organic as well as the inorganic route to augment our ferrochrome manufacturing capacity in India, leveraging the strength of the good quality of chrome ore availability. This will make & Tata Steel Mining Limited the top ferrochrome player in India and among the top-five globally.”

Tata Steel Mining Limited has acquired three Chromite mines in the 2020 mineral auctions, namely Sukinda Chromite Mine, Saruabil Chromite Mine and Kamarda Chromite Mine, for which leases were granted for 50 years. The mines have now been operational with an annual capacity of over 1.5 million tonnes.

Source - Strategic Research Institute

voda 19 april 2021 08:34

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Corinth Pipeworks Bags Israel Natural Gas Lines Pipe Supply Deal

Cenergy Holdings Greek steel pipe maker Corinth Pipeworks has signed an agreement to manufacture and supply steel pipes to Israel Natural Gas Lines, leader in natural gas distribution in Israel, for the offshore section of a new high-pressure gas pipeline between the cities of Ashdod and Ashkelon. The contract for approximately 50km of 36 inch LSAW line pipe also includes anti-corrosion coating and concrete weight coating all of which will be manufactured at Thisvi facility in Greece within 2021. The installation of the pipeline is scheduled to start in 2022.

Chevron, having recently completed its acquisition of Noble Energy, as the operator of Leviathan and Tamar offshore gas fields, has entered into an agreement with INGL for the provision of transmission services of natural gas. The new pipeline system, in addition to the expansion of other lines, will enable Chevron and its partners to send as much as 7 billion cubic meters of gas annually to Egypt

Israel Natural Gas Lines Ltd is a government owned corporation, established in 2004 for the construction and operation of the nationat natural high pressure gas transmission system. Following the discovery of significant volumes of natural gas resources off the coast of Israel, the demand for electricity generation based on natural gas, and gas sector development, has increased. INGL continues to develop the natural gas sector, increasing the reliability of the national transmission system, to ensure a regular supply of gas to its customers.

Source - Strategic Research Institute

voda 19 april 2021 08:34

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Shyam Steel Industries to add 300KT Rebar Capacity

Business Line reported that Kolkata-based rebar manufacturer Shyam Steel Industries Ltd, which has capacity to produce close to 600,000 tonne of TMT bars annually is looking to ramp up production capacity to 900,000 tonnes through brownfield expansion at an estimated investment of INR 600 crore over the next 18-24 months. The investment of INR 600 crore would be utilised for both backward and forward integration. While INR 400 crore would be invested for backward integration for ramping up sponge iron production and captive power, the remaining INR 200 crore would go towards increasing TMT production. Part of it would be funded through internal accruals and part of it through debt.

Shyam Steel Industries is also looking to add another six lakh tonne capacity through inorganic route by bidding for assets under IBC through NCLT. The assets for which the company has placed bids are primarily in Odisha and Jharkhand.

Source - Strategic Research Institute

voda 19 april 2021 08:35

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Saudi Steel Pipe Unit to Sell Operating Assets to Koch Chemical

Ternium Saudi Steel Pipe Co has inked a definitive asset purchase agreement with Koch Chemical Technology Group Saudi Arabia Limited to sell its core operating assets. Saudi Steel Pipe Company announced that “It’s wholly owned subsidiary Titanium Steel & Manufacturing Co Ltd has entered into a definitive asset purchase agreement with Koch Chemical Technology Group Saudi Arabia Limited for the sale of its main operating assets. The transaction price is USD 9.7 million (Equivalent to SAR 36.3 million) to be paid in cash on closing. The transaction, which is subject to certain approvals, including approval by the General Authority for Competition, is expected to close within the third quarter of 2021.”

TenarisSaudiSteelPipes is a leading manufacturer and supplier of electrically resistance welded steel pipes for the energy, industrial, and construction segments of the Middle East and North Africa. SaudiSteelPipes offers oil and gas customers a full range of products including Oil Country Tubular Goods, Line pipe, API and Premium Connections and related accessories and services. It also serves customers in the industrial and construction segment with a wide range of black and galvanized pipes. It’s facilities are located in the Second Industrial City of Dammam, in addition to a commercial office in Riyadh, and a service and distribution network covering more than 20 countries.

Source - Strategic Research Institute

voda 19 april 2021 08:37

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Hoa Phat Container Plant in Ba Ria Vung Tau to Start Construction

Vietnamese steel maker Hoa Phat announced that the Department of Planning and Investment of Ba Ria in Vung Tau province has granted the business registration certificate to Hoa Phat Container Manufacturing Joint Stock Company on 12 April 2021. Hoa Phat Group has arranged enough capital to implement the project according to the committed schedule with the locality. It is expected that Hoa Phat will complete the procedures and start construction in June 2021.

Raw materials for the production of empty container shells are HRC steel, special grade SPA-H, natural resistance, weather resistance, products of Hoa Phat Dung Quat Iron and Steel Production Complex. In Vietnam, only Hoa Phat can produce this type of steel. Raw materials for the production of empty container shells are HRC steel, special grade SPA-H

With an output of 500,000 TEU per year, container production will collect 1 million tonnes of HRC hot rolled coil per year, which is produced at Hoa Phat Dung Quat Iron and Steel Complex and Hoa Phat Dung Quat 2 Project.

Source - Strategic Research Institute

voda 19 april 2021 08:38

0

LUKOIL Chooses Tenaris for Project in Mexico

Russian energy company PJSC LUKOIL chose Tenaris for the Yoti Oeste-1Exp, its first project in Mexico, located 63 km offshore from Paraíso, Tabasco, and developed in conjunction with a major, international operator. For this challenging project Tenaris will deliver more than 1000 tonnes of pipe with TenarisHydril Wedge 523, Wedge 513, Blue and Blue Quick Seal connections, supplied with Dopeless technology that adds value by not needing for the application of running or storage compounds, which were produced at Tenaris’s mills Tamsa in Mexico and Dalmine in Italy.

Tenaris is providing these products to LUKOIL under the Rig Direct service model, that includes well planning and delivery on-site, technical assistance by a field service specialist and traceability of every pipe using the PipeTracer technology, providing the customer with access to product data in real time.

Through RealWear technology, which includes smart glasses with audio and video links, the customers visited different areas of the mill remotely, including the steel shop, the R&D center and the Rig Direct® Academy, and interacted live with Tenaris representatives throughout the virtual tour.

Source - Strategic Research Institute

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