Nieuws en info hier plaatsen (deel 4)

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SMS Group Takes Over Paul Wurth Industrial Activities

Leading international plant engineering company for the metals industry SMS group has acquired the remaining 40.8% of Paul Wurth SA. These shares were previously held by the Luxembourg state and state owned banking organizations. As such, SMS has become the sole owner of Paul Wurth's plant engineering business, strengthening its competence in metallurgy and hydrogen technology. With this step, the Luxembourg site will be expanded to become the research and development center for decarbonisation and recycling within SMS group. To this end, SMS and Paul Wurth are pooling their research and development activities with the common aim of continuing to set technological standards in these forward-looking fields. The future range of services includes all technologies for reducing CO2-emissions in existing steel mills; hydrogen-based, CO2-free direct reduction of iron ore; and Power-To-X technologies for producing synthetic fuels and down­stream products. In addition, the international teams of experts from SMS and Paul Wurth will continue to work on expanding the product and service offering across the entire metals industry process chain.

As part of the transaction, a strategic partnership was also agreed with the University of Luxembourg to strengthen scientific research and development of hydrogen technologies at the Luxembourg site. With financial support from Paul Wurth, the university has already established a chair for energy process technology.

Paul Wurth's real estate activities in Luxembourg will be transferred to a new company in which the Luxembourg public shareholders and SMS will each hold stakes.

Source - Strategic Research Institute
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Pipe Makers Demand Temporary Ban on Steel Exports from India

India is second largest producers of steel in the world, yet the Indian small & medium industry is struggling with increasing steel prices and shortage of raw material in the domestic market, which are leading to project cancellations and huge losses for the industry. The Indian Pipe Manufacturers Association has approached Indian government for intervention to control the prices and impose a temporary ban on steel exports. Indian Pipe Manufacturers Association said in a letter to the Ministry of Steel "Some of the major private sector and public sector steel exporters have achieved more than 50% of their sales volumes through exports, which has created a shortage of raw materials for the domestic steel manufacturers. Steel prices are touching an all-time high level, increasing by almost 60% between July 2020 and April 2021. It has made majority of our orders unviable and has put us in a tight spot.”

The letter added “In 2008 as well, when steel prices were at an all-time high, the government had intervened, and the prices were reduced to help the industry survive.”

Source - Strategic Research Institute
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Mechel’s Izhstal Introduces Lean Production Technologies

Mechel Group’s Izhstal plant is implementing a lean production system aimed at increasing operational efficiency and reducing costs. The goal of the project is to increase productivity through the use of lean manufacturing techniques that optimize the production process, minimize all types of losses, and also involve each employee in the improvement process. The implementation of the project involves the introduction of lean manufacturing tools: 5C systems for organizing and rationalizing the workplace, improvement methods, quick changeover, universal equipment maintenance, and improvement of production analysis.

Mill 450 of the rolling shop became the pilot site for the implementation of lean production. The project is designed for two years. For its implementation, a specialized structural unit and several working groups have been created, which closely interact with the attracted experts of the Kaizen Center.

Within the framework of the project, an examination of the current state of the production system of the enterprise and an analysis of the efficiency of using the resources of the mill 450 are carried out. The flow of the production process was presented in a graphical form. To inform the mill employees about the implementation of lean manufacturing tools, a special information stand was installed. Izhstal conducted an initial audit on the 5C system, developed plans for the implementation of the system at reference workplaces and optimization of the mill.

The implementation of lean production methods showed positive results at the pilot site, in connection with which the plant decided to scale this project to the workshop for repair and maintenance of rolling production, sales service and logistics of sales of finished products.

Source - Strategic Research Institute
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Desktop Metal Develops 3D Printing for 316L Stainless Steel

Leader in mass production and turnkey additive manufacturing solutions Desktop Metal announced that it has qualified the use of 316L stainless steel for the Production System platform, which leverages patent pending Single Pass Jetting technology designed to achieve the fastest build speeds in the metal additive manufacturing market. Through extensive testing, the Desktop Metal materials science team has validated that 316L stainless steel printed on Production System technology and sintered by Desktop Metal meets MPIF 35 standards for structural powder metallurgy parts set by the Metal Powder Industries Federation. Parts printed with 316L have demonstrated excellent mechanical properties and corrosion resistance, while significantly decreasing production time and part cost.

1. Rocker Arm for Salt Water Marine Environments - Rocker arms are used to open and close intake and exhaust valves on an outboard marine engine. The use of 316L extends the part’s life and provides corrosion resistance against harsh salt water environments. Manufacturing on the Production System P-50 enables the production of more than a thousand parts per day with ribbing features and cut outs to deliver adequate strength and stiffness while maintaining low weight and a small footprint versus the standard cast alternatives, which require up to 8 to 14 weeks lead time.

2. Fluid Connector for Chemical Processing Plants - Heavy industry fluid connectors used in many chemical processing plants need to be manufactured in 316L for corrosion resistance against the chemicals moving through the part. The connector’s complex internal channels make it impossible to manufacture as a single component via conventional manufacturing methods. The Production System P-50 enables printing the fluid connector in 316L as a single, consolidated component and can support a throughput of nearly 5,500 parts per week, at a fully burdened cost of approximately USD 6.85 per part.

3. Customized Surgical Tool for Medical Applications - Because 316L is a surgical-grade steel, it is an ideal material for medical applications like surgical nozzles. By eliminating tooling, additive manufacturing enables mass production runs of different sized nozzles with no lead time, featuring internal channels that are optimized for individual patient needs. Printing on the Production System P-50 eliminates multiple fixturing steps otherwise required for machining, and results in a throughput of more than 24,000 parts per week at approximately USD 2.50 per part. By comparison, machining the same part would cost USD 20.00-40.00 per part, and require up to two months creating the same number of parts the P-50 can produce in just one week.

4. Gear Shift Knob for the Automotive Industry - High touch parts like these gear knobs require materials that are easy to sanitize. 316L is an optimal material choice because it offers excellent corrosion resistance and cleans easily. This textured gear shift is an example of mass customization made possible by binder jetting on the Production System, which supports up to 200 parts per build and up to 6,700 parts per week. By comparison, casting would require 8 to 14 weeks lead time for tooling, just to begin volume production.

Created by the inventors of binder jetting and single-pass inkjet technology, the Production System is an industrial manufacturing platform powered by Desktop Metal’s SPJ technology. It is designed to achieve speeds up to 100 times those of legacy powder bed fusion additive manufacturing technologies and enable production quantities of up to millions of parts per year at costs competitive with conventional mass production techniques. The Production System platform consists of two printer models: the P-1, a solution for process development and serial production applications, and the P-50, a large form factor mass production solution for end-use parts, scheduled to begin commercial shipments in 2021.

Known for its corrosion resistance and excellent mechanical properties at extreme temperatures, 316L stainless steel is well suited for applications in the most demanding conditions, such as parts exposed to marine or pharmaceutical processing environments, food preparation equipment, medical devices and surgical tooling. It also exhibits excellent weld ability by standard fusion and resistance methods.

Source - Strategic Research Institute
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OMK’s Chelyabinsk Plant Supplies Pipe Fittings for West Qurna2

Russian pipe maker United Metallurgical Company OMK’s Chelyabinsk plant has produced and shipped 52 taps for the Iraqi West Qurna-2 oil pipeline. Bends with a diameter of 24 inches (609.6 mm) were made with insulation, according to the requirements of the international standard ASME B16.49. During production, the method of hot bending with high frequency currents was used. According to the customer's requirements, the pipes must be from the same batch of the manufacturer. To fulfil this order, the Chelyabinsk plant OMK used pipes produced by Vyksa plant in Nizhny Novgorod region. Such cooperation of OMK plants made it possible to guarantee the high quality of the final product.

The West Qurna-2 field, located in southern Iraq, 65 km northwest of the large port city of Basra, is one of the world's largest fields. The initial recoverable reserves of the field are about 14 billion barrels. Commercial oil production at the field has been going on since 2014.

Source - Strategic Research Institute
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Metalloinvest Launches Program to Improve Operational Efficiency

Russian miner & steel maker Metalloinvest has launched an organizational efficiency improvement program aimed at increasing labor productivity. Improving operational and managerial efficiency is one of the three priorities of Metalloinvest's Strategy for Qualitative Changes, along with sustainable development and increasing sales margins. The program will make an important contribution to the achievement of the high-level goal of reducing the Company's production costs by 10% over 5 years. The implementation of the Program is calculated until 2025 and will take place in stages. This year the project starts at the Mikhailovsky Mining and Processing Plant named after AV Varichev, then at the Lebedinsky mining and processing plant, the Oskol electrometallurgical plant named after VI AA Ugarov, Ural Steel.

At the first stage, opportunities will be identified to eliminate losses in processes and identify areas for improvement, benchmarking will be carried out, goals will be formulated to improve the efficiency of business processes for all structural divisions.

This will be followed by the stage of development and implementation of specific measures, including the introduction of digital technologies, automation of processes, modernization of equipment, elimination of duplication of functions, redistribution and reduction of redundant personnel, development of multifunctionality.

The result will be an increase in the speed of the Company's reaction to new challenges and changes in the market situation, a decrease in the cost of production and, accordingly, an increase in competitiveness, a decrease in environmental impact, an improvement in working conditions and elimination of excessive workload of employees, simplification and optimization of business processes.

Source - Strategic Research Institute
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JSW Steel to Supply 400 Tonnes of Oxygen to Karnataka Every Day

indian steel giant JSW Steel has agreed to supply 400 tonnes of liquefied oxygen per day to Karnataka to treat COVID-19 patients. After a meeting with Karnataka’s Mines and Geology Minister Mr Murugesh R Nirani, JSW Steel’s Deputy Managing Director Dr Vinod Nowal assured the state government to supply 400 tonnes of oxygen per day to tackle the crisis. He added "Our Company’s commitment is towards Karnataka. We are equipped and ready to supply more oxygen if the demand arises.”

Amidst worsening situation in the state, Mr Nirani took the initiative to augment the supply of oxygen to hospitals. He convened a meeting with representatives of several steel companies who produce liquefied oxygen in their plants for their use in steel production. The minister stressed the need to produce oxygen in huge quantities to address the public health emergency caused by the COVID-19 pandemic. He urged steel companies to respond to the crisis and produce oxygen on a war-footing and supply them to hospitals on priority basis. Baldota Group Company has been appealed to reopen its plant to supply oxygen & companies owned by Baba Kalyani, Kirloskar and others too have been urged to increase production of oxygen.

Separately, Jindal Steel & Power Limited’s Managing Director Mr VR Sharma shared in a steel industry Whatsapp group said “We have liquid oxygen stock of 500 tonnes in our Angul works. We are not getting any tankers for filling. We are ready to provide liquid oxygen to any one immediately. All loading arrangements are done. Please direct your known persons & hospital to place tankers, if any one needs liquid oxygen.”

Source - Strategic Research Institute
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Enel X Helps Feralpi Group Meet Sustainability Targets

Improving the Lonato del Garda’s Brescia plant's energy efficiency and reducing atmospheric CO2 emissions: the Feralpi Group, one of Europe's leading steel producers, chose Enel X to help meet its sustainability targets and reduce the environmental impact of its production activities. The Enel Group's business line, which offers innovative solutions to support the energy transition, installed two new latest-generation compressors in the compressor room at the Lonato del Garda site, carried out an inspection of the distribution system, and built a new room in the by-products area complete with compressor, filter and dryer. Enel X helped the Feralpi Group by conducting a comprehensive analysis of the steel company's needs and developing customized solutions using the best technologies on the market. The company will continue to provide support by remotely monitoring and maintaining compressor rooms and guaranteeing their performance.

Feralpi Group Managing Director Mr Giovanni Pasini said “We produce steel from electric furnaces, so energy is not just a strategic commodity, but also a tool that we can invest in to make our plants increasingly efficient, combining competitiveness and sustainability. This requires a cross-sector approach, including decisive action on the plant services front. Although it is not as obvious, making them more efficient helps reduce overall CO2 emissions and reduces the impact of the steelworks, something that our Group is striving for. The partnership with Enel X is a step in this direction.”

The project with Enel X was completed in February and will enable the Feralpi Group to increase the plant's energy efficiency by almost 20%, from an average consumption of 11,000 MWh per year to just over 9,000 thanks to the alternating use of compressors. On an environmental level, this translates into a potential saving of over 900 tons of CO2 emissions per year. Innovative technologies were used to enable the automatic management of all compressed air generation, with continuous performance optimization.

Enel X's cutting-edge solutions in the B2B sector will also guarantee a growth in sustainability for the Feralpi Group. This is confirmed in the EMAS Environmental Statement, the document that the company produces every three years to report its results and improvements in this area, a further step towards achieving ISO 50001 certification.

Source - Strategic Research Institute
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finance.yahoo.com/news/nucor-reports-...


NUE
+2.15%
Thu, April 22, 2021, 2:00 PM


More content below

NUE
+2.15%
CHARLOTTE, N.C., April 22, 2021 /PRNewswire/ -- Nucor Corporation (NYSE: NUE) today announced record quarterly consolidated net earnings of $942.4 million, or $3.10 per diluted share, for the first quarter of 2021. By comparison, Nucor reported consolidated net earnings of $398.8 million, or $1.30 per diluted share, for the fourth quarter of 2020 and $20.3 million, or $0.07 per diluted share, for the first quarter of 2020.

"The first quarter of 2021 was the most profitable quarter in our Company's history. We are clearly reaping the rewards from our prior investments and the more strategic approaches we are taking to our key end-use markets," said Leon Topalian, Nucor's President and Chief Executive Officer. "It is gratifying to see such strong performance across all of Nucor."

Mr. Topalian continued, "We expect earnings for the second quarter of 2021 to exceed our first quarter results, setting a new record for quarterly earnings. Most of the end-use markets we serve remain strong and inventories remain lean across supply chains. We believe the current favorable demand environment will continue through the rest of 2021. I want to thank our customers for allowing us the opportunity to earn your business and the more than 26,000 Nucor teammates whose dedication makes extraordinary results like these possible."

Selected Segment Data
Earnings (loss) before income taxes and noncontrolling interests by segment for the first quarter of 2021 and 2020 were as follows (in thousands):

Financial Review
Nucor's consolidated net sales increased 33% to $7.02 billion in the first quarter of 2021 compared with $5.26 billion in the fourth quarter of 2020 and increased 25% compared with $5.62 billion in the first quarter of 2020. Average sales price per ton in the first quarter of 2021 increased 21% compared with the fourth quarter of 2020 and increased 25% compared with the first quarter of 2020. A total of 7,176,000 tons were shipped to outside customers in the first quarter of 2021, an 11% increase from the fourth quarter of 2020 and a slight decrease from the first quarter of 2020. Total steel mill shipments in the first quarter of 2021 increased 13% as compared to the fourth quarter of 2020 and increased 1% as compared to the first quarter of 2020. Steel mill shipments to internal customers represented 21% of total steel mill shipments in the first quarter of 2021, compared with 19% in the fourth quarter of 2020 and 20% in the first quarter of 2020. Downstream steel product shipments to outside customers in the first quarter of 2021 increased 4% from the fourth quarter of 2020 and decreased 4% from the first quarter of 2020.

The average scrap and scrap substitute cost per gross ton used in the first quarter of 2021 was $405, a 33% increase compared to $305 in the fourth quarter of 2020 and a 38% increase compared to $293 in the first quarter of 2020.

Pre-operating and start-up costs related to the Company's growth projects were approximately $19 million, or $0.05 per diluted share, in the first quarter of 2021, compared with approximately $28 million, or $0.07 per diluted share, in the fourth quarter of 2020 and approximately $29 million, or $0.07 per diluted share, in the first quarter of 2020.

Overall operating rates at the Company's steel mills increased to 95% in the first quarter of 2021 as compared to 87% in the fourth quarter of 2020 and 89% in the first quarter of 2020.

Included in the Company's fourth quarter of 2020 earnings were the following: non-cash impairment charges of $130.2 million, or $0.33 per diluted share; net benefits of $48.2 million, or $0.16 per diluted share, and $39.7 million, or $0.13 per diluted share, related to certain tax items; and a net benefit of $17.9 million, or $0.05 per diluted share, resulting from the transaction that concluded Nucor's investment in Duferdofin Nucor S.r.l. Included in the first quarter of 2020 results were losses on assets of $287.8 million, or $0.92 per diluted share, related to our previously held equity method investment in Duferdofin Nucor S.r.l.

Financial Strength
At the end of the first quarter of 2021, we had $2.98 billion in cash and cash equivalents, short-term investments and restricted cash and cash equivalents on hand. The Company's $1.50 billion revolving credit facility remains undrawn and does not expire until April 2023. Nucor continues to have the strongest credit rating in the North American steel sector (Baa1/A-) with stable outlooks at both Moody's and Standard & Poor's.
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Wereldwijd veel meer staal geproduceerd

Door ABM Financial News op 22 april 2021 17:12
Views: 917

(ABM FN-Dow Jones) De mondiale staalproductie is in maart met dubbele cijfers gestegen Dit bleek donderdag uit cijfers van brancheorganisatie World Steel Association.

In totaal maakten de 64 staalproducerende landen in maart 169,2 miljoen ton staal, een stijging van 15,2 procent op jaarbasis.

In China, wereldwijd met afstand de grootste fabrikant van staal, steeg de productie met 19,1 procent tot 94,0 miljoen ton. In februari steeg de productie in China al met bijna 11 procent.

De Japanse productie steeg afgelopen maand met 4,6 procent.

De Verenigde Staten produceerden 1,0 procent meer staal dan een jaar eerder. In februari ging het nog om een daling van bijna 11 procent op jaarbasis.

Duitsland zag de productie met 10,4 procent stijgen, exact met datzelfde percentage daalde de productie in februari nog.
Neutraal-1
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Beursblik: winstgevendheid ArcelorMittal flink aangetrokken

Door ABM Financial News op 22 april 2021 18:18
Beursblik: winstgevendheid ArcelorMittal flink aangetrokken
Beeld: ABM Financial News
(ABM FN-Dow Jones) ArcelorMittal heeft in het eerste kwartaal van 2021 de winstgevendheid flink zien aantrekken. Dit verwachten analisten die bijdroegen aan de bedrijfsconsensus.

ArcelorMittal behaalde volgens de analisten afgelopen kwartaal een EBITDA van 2.965 miljoen dollar.

In het vierde kwartaal lag de EBITDA op 1.726 miljoen dollar. In de eerste drie maanden van 2020 was dit 967 miljoen dollar.


De staalreus opent op 6 mei de boeken.

ABMFN
ABM Financial News; info@abmfn.nl; Redactie: +31(0)20 26 28 999.
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Recent Vietnamese scrap bookings reflect that the market is relatively stable on-week.

A 32,000-tonne cargo of US scrap for May shipment was booked
last week at $463/tonne cfr Phu My, HMS 1/2 80:20 basis. The
cargo comprised 70% shredded and the remainder HMS and P&S
grades. The concluded price is about the right market level, and
indicates that not much changed from the previous week, a local
trader says. Since the cargo contains shredded and P&S, $463/t is
permissible, a regional trader says.

Japanese H2 scrap was also recently ordered at $452/t cfr Phu
My. Deals for Japanese H2 scrap transacted at $455/t cfr in the
week ending 9 April. Buyers prefer deep-sea scrap and are willing
to pay some $10/t more than for Japanese scrap, another
Vietnamese trader notes.

There was a deal for US-origin HMS 80:20 scrap in 40-feet
container at $430/t cfr Phu My earlier in the week through 16 April.
An importer reports hearing an offer on 15 April at $437/t cfr Phu
My. A deal for 4,000t of Australian-origin 80:20 scrap in 20-feet
containers was booked at $440/t cfr Jakarta during the week, a
regional trader reports. Scrap shipped in 40ft containers is typically
priced $8-10/t lower than scrap in 20-ft containers, he says.

Meanwhile, South Korea’s Hyundai Steel is understood to have
secured around 40,000t of Japanese scrap in its procurement
auction on 15 April. The mill had bid for Japanese H2 scrap at JPY
43,000/t ($395) in the tender. The booking volume is not large
as Japanese suppliers generally want to sell at a higher price,
trading sources say.

Seaborne iron ore prices meanwhile saw medium and high-grade
ores gain and lower grades slide on Friday as high steelmaking
margins pushed mills to buy higher grades. The Kallanish KORE
62% Fe index gained $1.18/t to $174.62/dry metric tonne cfr
Qingdao on Friday, ending the week up $4.53/t. The KORE 65% Fe
index gained $1.47/t on Friday and $6.71/t over the week at
$206.58/dmt cfr. The KORE 58% Fe index meanwhile slipped
$1.66/t on Friday and $2.87/t over the week to $151.47/dmt cfr.
China’s iron ore port stocks jumped last week. Across 35 ports
stocks increased 1.85 million tonnes to 126.55mt, according to
SMM.

Bron Kallanish
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florida7
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quote:

voda schreef op 23 april 2021 07:11:


South East Asia Report (14 bladzijden met informatie)

Bron Kallanish

Bedankt voor de info Voda.
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Manufacturing Units in Mumbai face Closure

Business Today reported that while COVID-19 is spreading fast and industrial oxygen is being diverted to save lives, thousands of engineering units and ancillary suppliers to various industries across the country are facing closure threat due to shortage of industrial oxygen and raw materials. Thane-Belapur-Bhiwandi belt has over 1,200 small and medium engineering units, mainly making industrial vessels, boilers, drums etc. In the past couple of weeks, half of the engineering units were operational, and now many have closed down due to lack of raw materials like steel and pipes and industrial gas for cutting and welding

Chamber of Small Industry Association Bhiwandi General Secretary Mr Ninad Jaywant said that out of 3,000 plus MSMEs in the Thane, Belapur and Bhiwandi belts, the most affected are engineering companies, textile and leather units. Specialized cutting and lathe jobs like arc welding require industrial gas, which is now being diverted as medical oxygen for hospitals. Besides, the main steel and engineering sourcing market in Masjid Bandar in Mumbai and other hardware shops in most industrial belts are closed.

Pokhran Lake Small Scale Industries Association in Thane Chairman Mr Salam Ali Dabir said "Most of our units are into fabrication and that requires industrial oxygen for operations. More than that, we are not able to source raw materials as shops in the main steel markets in Mumbai are not allowed to open. With more restrictions coming in for travel by train or bus from today night, we fear workers will not be able to come.”

Rating agency CRISIL estimates that the central government's decision to ban use of industrial oxygen from April 22, except for nine sectors, will impact companies in multiple sectors. CRISIL Ratings Director Gautam Shahi said “The disruption in the supply of oxygen for industrial use would temporarily impact the revenues of small and mid-sized companies into metal fabrication, automotive components, shipbreaking, paper, and engineering. These typically do not have captive oxygen plants and source their requirement through merchant suppliers for operations such as welding, cutting, cleaning and chemical processes.”

Source - Strategic Research Institute
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Global Crude Steel Production Remains in Top Gear in March & Q1

World crude steel production for the 64 countries reporting to the World Steel Association was 169.2 million tonnes in March 2021, a whopping 15.2% increase as compared to March 2020. China produced 94.0 million tonnes in March 2021 up 19.1% YoY, India produced 10.0 million tonnes up 23.9%, Japan produced 8.3 million tonnes up 4.6%, United States produced 7.1 million tonnes up 1.0%, Russia is estimated to have produced 6.6 million tonnes up 9.4%, South Korea produced 6.1 million tonnes up 4.7%, Germany is estimated to have produced 3.6 million tonnes up 10.4%, Turkey produced 3.4 million tonnes up 9.2%, Brazil produced 2.8 million tonnes up 4.1% and Iran is estimated to have produced 2.6 million tonnes up 10.7%.

Global crude steel production was 486.9 million tonnes in the first three months of 2021, up by 10.0% compared to the same period in 2020. Asia and Oceania produced 356.9 million tonnes of crude steel an increase of 13.2% over the first quarter of 2020 (China 271.0 million tonnes up 15.6% YoY & India 29.6 million tonnes up 10.4% YoY). The EU (27) produced 37.8 million tonnes of crude steel up by 3.1% YoY. North America’s crude steel production was 28.1 million tonnes a decrease of 5.2% YoY. The CIS produced 26.2 million tonnes of crude steel an increase of 3.1% YoY. Other Europe produced 12.6 million tonnes of crude steel an increase of 8.3% YoY. South America produced 10.9 million tonnes of crude steel an increase of 7.1% YoY. Middle East produced 10.5 million tonnes of crude steel an increase of 3.2% YoY. Arica produced 3.9 million tonnes of crude steel an increase of 3.4% YoY

Africa: Egypt, Libya, South Africa

Asia and Oceania: Australia, China, India, Japan, New Zealand, Pakistan, South Korea, Taiwan (China), Vietnam

CIS: Belarus, Kazakhstan, Moldova, Russia, Ukraine, Uzbekistan

European Union (27)

Europe, Other: Bosnia-Herzegovina, Macedonia, Norway, Serbia, Turkey, and United Kingdom

Middle East: Iran, Qatar, Saudi Arabia, United Arab Emirates

North America: Canada, Cuba, El Salvador, Guatemala, Mexico, United States

South America: Argentina, Brazil, Chile, Colombia, Ecuador, Paraguay, Peru, Uruguay, Venezuela

Source - Strategic Research Institute
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Former UK PM Mr Cameron Tried Lobbying for Greensill

AP reported that the Bank of England published a series of communications showing Britain’s former Prime Minister Mr David Cameron making repeated efforts for a now bankrupt financial firm Greensill Capital to access a state-backed coronavirus financial support scheme. According to email communications released by Britain’s Bank of England under freedom of information laws, Cameron contacted the bank several times in March 2020 to discuss financing conditions at the onset of the pandemic. The documents show that he managed to set up a call between the firm’s founder, Australian financier Mr Lex Greensill and the bank’s deputy governor Jon Cunliffe on March 17. On that day, the bank launched the COVID Corporate Financing Facility, a scheme under which it lent money directly to large companies, backed by the Treasury.

Mr Cameron also contacted the bank again during April 2020 after Lex Greensill had failed in an attempt to tap the recently launched scheme. Mr Cameron even wrote to Mr Cunliffe on April 22, 2020, expressing how incredibly frustrating the exercise had proved to be. At another call between Mr Lex Greensill and Mr Cunliffe two days later, Mr Cunliffe said the firm would currently fall outside the boundaries of the scheme.

Separately, the top civil servant at the Treasury Mr Tom Scholar also revealed that Mr Cameron had called him on his mobile phone and sent a series of texts as part of his lobbying efforts for Greensill Capital, specifically the proposal to access the CCFF. Mr Scholar told a committee of lawmakers “The call I took from Mr Cameron was not a substantive discussion of the proposal. It was simply a call to draw it to my attention. I said Thank you very much, this is something we are looking at. The proposal had been rejected by Treasury officials as it did not meet the criteria for the scheme.”

It has previously been disclosed that Mr Cameron had also contacted Treasury chief Mr Rishi Sunak in an effort to secure government-backed loans for Greensill Capital.

The House of Commons’ influential cross-party Treasury Select Committee has announced that it would begin an investigation next week into Greensill’s collapse and the “appropriateness” of the UK Treasury’s response to lobbying.

Source - Strategic Research Institute
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ArcelorMittal Announces Sell Side Analyst Consensus EBITDA for Q1

ArcelorMittal announced the publication of its first quarter 2021 EBITDA sell-side analysts’ consensus figures. ArcelorMittal said “EBITDA consensus estimates from 17 sell side analysts for Q1 of 2021 is USD 2.965 billion.”

The consensus figures are based on analysts’ estimates recorded on an external web-based tool provided and managed by an independent company, Vuma Financial Services Limited. To arrive at the consensus figures, Vuma Consensus has aggregated the expectations of sell-side analysts who, to the best of knowledge, cover ArcelorMittal on a continuous basis. This is currently a group of approximately 20 brokers.

The sell-side analysts who cover ArcelorMittal and whose estimates are included in the Group consensus outlined above are the following:

BancoSabadell - Francisco Rodriguez

Commerzbank - Ingo-Martin Schachel

Credit Suisse - Carsten Riek

Deutsche Bank - Bastian Synagowitz

Exane - Seth Rosenfeld

Goldman Sachs - Jack O’Brien

Groupo Santander - Robert Jackson

GVC Gaesco Beka - Iñigo Recio Pascual

ING - Stijn Demeester

Jefferies - Alan Spence

JPM - Luke Nelson

Kepler - Rochus Brauneiser

Keybanc - Phil Gibbs

Morgan Stanley - Alain Gabriel

Oddo - Alain Williams

Societe Générale - Christian Georges

UBS - Myles Allsop, Andrew Jones

Source - Strategic Research Institute
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Logistics Hampering Oxygen Supply from Steel Plants

Even though Indian government has set up a committee which reviews the production, consumption and stocks available at all the steel plants in the country and has allocated distribution of Liquid Medical Oxygen from each steel plant to various states, logistics issues are posing a challenge in transportation of medical oxygen from steel plants to health facilities.

A Tata Steel spokesperson said "We have been supplying 300 tonne of Liquid Medical Oxygen daily to various states UP, MP, AP, Jharkhand, Odisha, Bihar and West Bengal and hospitals. We stand ready to increase the supply though currently there is a shortage of containers and trailors to carry and transport the oxygen. The transportation issue needs to be sorted out expeditiously and the required quantity of LMO reaches the desired destinations.”

SAIL has enhanced its focus on increasing the production since beginning of this month. SAIL has reduced the production of gaseous Oxygen, Nitrogen and Argon besides optimizing process parameters in its plants to boost production of Liquid Medical Oxygen. In the last six days, the company has supplied, on an average, 660 tonnes of Liquid Medical Oxygen per day from its plants. On 21st April, 2021 alone, the company has supplied 891 tonnes of Liquid Medical Oxygen.

Meanwhile, Indian Railways first Oxygen Express train left for Maharashtra from Rashtriya Ispat Nigam Limited Vizag Steel Plant on Thursday evening. Seven empty tankers from Kalamboli Goods Shed in Maharashtra had reached at Rashtriya Ispat Nigam Limited in Visakhapatnam. Liquid Medical Oxygen has been filled in the tankers since morning. Each tanker has been loaded with 15 tons of Liquid Medical Oxygen and the train started to move towards Maharashtra, in the evening

For the supply of oxygen in Uttar Pradesh, another Oxygen Express train is headed for the Bokaro Steel Plant in Jharkhand.

Source - Strategic Research Institute
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OMK Secures Financing for NG DRI Based Steel Plant in Vyksa

Russian pipe maker United Metallurgical Company OMK announced that VEB.RF in partnership with BEAC and Otkritie Bank will take part in financing the construction of Europe's first large full cycle environmentally friendly technologies based steel complex Ekolant in Vyksa Nizhny Novgorod region in Russia. The project includes the construction of an electrometallurgical complex and the necessary infrastructure with modern technology for the production of steel, round billets and high quality slabs. The total cost of the project exceeds 140 billion rubles. To finance it, a syndicate was formed with the participation of VEB.RF, Sberbank and Otkritie Bank. The project will be implemented using the Project Financing Factory mechanism. The share of participation of the state corporation in the syndicate is 20 billion rubles, another 20 billion rubles will be the reserve tranche. Two other financial partners will provide another 40 billion rubles each. More than 40 billion rubles are the own funds of the project initiator.

Ecolant is a metallurgical complex without coke-chemical and blast furnace converters. The steel will be produced from iron ore and natural gas using the Direct Reduced Iron method. The project is a single ore-steel production chain consisting of DRI, an electrometallurgical furnace and a secondary processing complex with a capacity of 1.8 million tonnes of steel per year and two continuous casting machines. Production is expected to start in 2025. The bulk of the products will be used for the production of wide sheets for large-diameter pipes for trunk pipelines and shipbuilding, for the production of seamless pipes for oil production and for the production of railway wheels on the Vyksa plant of the United Metallurgical Company, the largest line in Europe.

Source - Strategic Research Institute
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