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voda 27 april 2021 07:45

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Vedanta Appoints CEOs of Vedanta Iron & Steel Sector & ESL

Vedanta announced that Vedanta Iron and Ferro Alloys Business CEO Mr Sauvick Mazumdar has been appointed as CEO of Vedanta’s Iron and Steel Sector, while Vedanta’s Value Added Business Director Mr NL Vhatte will take up the role of CEO at ESL Steel.

Mr Mazumdar has been associated with the Group for almost 25 years and has diversified experience in the Iron & Steel sector including mining, exploration, logistics, iron making and business development. He was appointed as the CEO of the Sesa Goa Iron Ore Business in 2019. Post the acquisition of FACOR, Mazumdar has also been leading the Iron & Ferro Alloys Business of Vedanta. A mining engineer from NIT Surathkal, Mr Mazumdar is a member of FIMI, Goa Mineral Ore Exporters Association, FICCI and CII and has been instrumental in transforming Sesa Goa as the largest producer of Iron Ore and Merchant Pig Iron Producer and FACOR.

Mr Vhatte has a rich and diversified experience of three decades in Pig Iron, Metallurgical Coke, Steel Making and Waste Heat Recovery Power plants and will now Head ESL Steel, which was acquired by Vedanta to diversify into the steel industry in 2018. An Electrical engineer with MBA in finance, Vhatte has a successful track record of driving the growth of Vedanta's value-added business from 0.3 to 1 million tonnes as the largest merchant pig iron producer with the lowest cost.

Source - Strategic Research Institute

voda 27 april 2021 07:47

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12 Companies Join Forces to Form Hamburg Hydrogen Network

12 companies Airbus, ArcelorMittal, Gasnetz Hamburg, GreenPlug, Hamburger Hafen und Logistik, Hamburg Port Authority, HADAG Seetouristik und Fahrdienst as well as Stadtreinigung Hamburg, together with the companies behind the Hamburg Green Hydrogen Hub namely Shell, Vattenfall, Mitsubishi Heavy Industries and Warme Hamburg have formed the Hamburg Hydrogen Network, Wasserstoffverbund Hamburg. The joint projects for the production, distribution and use of hydrogen make a decisive contribution to reducing greenhouse gases. As early as 2026, the network partners will be able to reduce C02 emissions in Hamburg by 170,000 tons per year through their application projects. Through the use of hydrogen by means of electrolysis on site, imports from the sea and connection to the European hydrogen network, the joint project offers the potential that by 2030 more than one million tonnes of the currently around 16 million tonnes of C02 emissions in Hamburg can be saved annually. The green hydrogen produced by the Hamburg Green Hydrogen Hub would primarily replace fossil fuels in industrial production as well as in the transport and logistics sector. The use of waste heat from electrolysis for the district heating network and the thermal treatment of municipal waste, in addition to the use of hydrogen, also help to further reduce the ecological footprint of a large number of other industries.

1.Airbus

2.ArcelorMittal

3. Gasnetz Hamburg

4.GreenPlug

5.Hamburger Hafen und Logistik

6.Hamburg Port Authority

7.HADAG

8.Mitsubishi Heavy Industries

9.Shell Germany

10.Stadtreinigung Hamburg

11. Vattenfall

12.Warmth Hamburg

With the planned conversion of a coal-fired power plant in Hamburg-Moorburg into a scalable 100-megawatt electrolysis system for the production of green hydrogen from renewable energies, the foundation stone is laid for building a complete hydrogen value chain in Hamburg. With its extensive network of potential industrial applications and service partners, the port forms a unique location-specific platform.

In addition, the network enables positive transmission effects in Germany and throughout Europe. It is already closely linked to other activities in the neighbouring countries of northern Germany. Above all, international cooperation is intended to help link production facilities for renewable electricity and hydrogen, infrastructure and distribution as well as demand generators from heavy industry to road, rail, water and air transport.

The joint application submitted by the twelve Hamburg companies as part of the EU-wide funding program "Important Projects of Common European Interest includes nine complementary projects to achieve this goal - all in the area of the Hamburg port area. Financial support from the German federal government as part of the IPCEI program is required to implement the pioneering joint project and to close the cost gap between green hydrogen and fossil fuel applications. The nine projects include:

HGHH - Hamburg Green Hydrogen Hub

The companies Shell, Mitsubishi Heavy Industries, Vattenfall and the municipal company Warme Hamburg are planning to jointly generate hydrogen from wind and solar energy at the Hamburg-Moorburg power station and use it in the vicinity. In addition to the construction of a scalable electrolyser with an output of 100 megawatts, the further development of the site into a so-called "Green Energy Hub" is planned.

Hamburger Hafen und Logistik

Hamburger Hafen und Logistik AG is planning various types of heavy-duty equipment (such as straddle carriers, trucks, tractors, forklifts, empty container handlers, reach stackers and a shunting locomotive) with fuel cell drives with the “Hydrogen Logistics Applications & Distribution" (H2LOAD) project put into operation.

Hamburg Port Authority

With the Hydrogen Port Applications HyPA project, the Hamburg Port Authority as an infrastructure provider and enabler for roads, rails and waterways in the Port of Hamburg is setting two different priorities. The transformation of mobility into the post carbon era is directed on the one hand to the provision of hydrogen filling stations for locomotives, ships and trucks and on the other hand to the construction and use of innovative hydrogen-powered ships.

HADAG Seetouristik und Fahrdienst AG

As the operator of public transport passenger ferries in the Port of Hamburg, the public company of the Free and Hanseatic City of Hamburg is planning to use emission-free ships in its fleet. In the H2HADAG project, three new ships will be converted from diesel hybrids to hydrogen hybrids and two additional ships will be built (directly as hydrogen hybrids).

City cleaning Hamburg

Stadtreinigung Hamburg is building the Center for Resources and Energy (ZRE) in Hamburg Stellingen. With the "Waste to Hydrogen for Hamburg" project, it wants to use electricity from the thermal recycling of non-material residues together with the Hamburg-Holstein, Warme Hamburg, Gasnetz Hamburg and Hamburg Energie transport companies. This electricity is to be used via electrolysis to generate green hydrogen and also to charge batteries for e-mobility.

Source - Strategic Research Institute

voda 28 april 2021 07:49

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Indian Steel Giants Sacrificing Output to Step Up Oxygen Supplies

According to latest media reports, Indian primary steel mills have finally started to cut steel production to step up oxygen supplies to save lives. Joining Steel Authority of India Ltd, which said that its Bhilai plant is taking a temporary shutdown to boost oxygen supplies, JSW Steel said it is reducing output to augment liquid medical oxygen supply to more than 900 tonnes a day by April-end, and more than 20,000 tonnes for the entire month. Other mills, including Tata Steel Ltd, Rashtriya Ispat Nigam Limited, AMNS India and Jindal Steel & Power Ltd, have also been supplying oxygen for medical purposes in the past few weeks

JSW Chairman Mr Sajjan Jindal said “Saving lives is more important than producing steel and production can suffer for as long as the country is in need of any resource available with the company.”

JSW Steel has tripled Liquid Medical Oxygen production at its Ballari plant to over 680 tonnes per day currently. JSW Steel Vijayanagar Works President Mr Rajashekhar Pattanasetty said “We have taken several measures to increase the availability of Liquid Medical Oxygen at the hospitals. This includes optimisation of steel production and increasing Liquid Medical Oxygen availability.”

Last week, JSPL Managing Director Mr VR Sharma had said that “Maybe some 5% to 7% production loss can be there but it is nothing, and can be made up in times to come."

Jindal Stainless Ltd has started supplying liquid oxygen from Jajpur unit in Odisha from Saturday. Over 40 tonne LMO is being dispatched on a daily basis to meet the increasing demand in Odisha, Andhra Pradesh, and other states and till date 128 tonne of oxygen has already been supplied

The higher supply of medical oxygen will save lives, but will have a bearing on some sectors. CRISIL Ratings Director Mr 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.”

Tribune News Service reported that steel industries in industrial hubs of Baddi-Barotiwala-Nalagarh in Solan district and Kala Amb and Paonta Sahib in Sirmaur district in Himachal Pradesh continued to operate and use industrial oxygen despite the Ministry of Home Affairs directing all states to ban use of industrial oxygen for industrial purposes. Enquires revealed that all 12 to 15 steel units in the BBN industrial hub were operational. Similar scenario was witnessed in the Paonta Sahib and Kala Amb industrial areas, which was the hub of steel units in the state. There were about 20 functional steel and iron mills in both the district.

Meanwhile, clearing the confusion following rumours of state government's orders to shut down iron and steel industry amid oxygen shortage, Punjab’s Industries Minister Mr Sundar Sham Arora said there are no such directions and industries have only been asked to stop processes that use oxygen. Mr Arora said, “There is no ban on operation of the iron and steel industry in Punjab. We have only ordered to shut processes using oxygen. The step is taken as an emergency measure to meet the high demand for the medical grade gas for Covid patients. Once the situation improves and there is sufficient buffer stock of oxygen in the state, the order will be revoked.”

Source - Strategic Research Institute

voda 28 april 2021 07:54

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UK Opens Parliament’s BEIS Committee Enquiry in Liberty Steel

UK Parliament’s Business, Energy and Industrial Strategy Committee has launched an inquiry examining the current challenges facing the steel industry and issues concerning the sector's long-term viability. The inquiry will also examine the Government's approach to supporting the steel industry, and the impact the collapse of Greensill Capital on Liberty Steel, its customers and its workforce in the UK. The inquiry is also likely to examine issues around audit, corporate governance and supply chain finance which has been raised in relation to Greensill Capital and GFG Alliance. The Committee's inquiry will begin with an introductory 'scene-setting' evidence session in late May which will examine the sector-wide issues facing the steel industry in the UK.

Business, Energy and Industrial Strategy Committee Chair Darren Jones said "The collapse of Greensill Capital and subsequent financing issues affecting the GFG Alliance has put thousands of jobs at Liberty Steel in jeopardy. As a Committee, we are keen to examine some of the immediate challenges facing the UK steel industry, including at Liberty Steel, and to consider questions around decarbonisation and the long-term viability of the sector. If we consider steel to be a foundation industry, what can the Government do regarding industrial policy to help build a financially and environmentally sustainable steel industry in the UK? This episode has also raised a catalogue of concerns relating to corporate governance, audit and supply-chain finance. As a Committee, we will want to examine whether reform is needed in these areas and, additionally, access to and use of tax-payers money, including Covid related support, and whether adequate checks-and-balances were put in place in return for support from government."

Following this initial evidence hearing, the BEIS Committee expects in later months, likely June and July, to examine these issues in more detail and to pick up on concerns relating to GFG Alliance and Liberty Steel.

The BEIS Committee will consider the witness line-up for these sessions and announce details in due course.

The BEIS Committee's steel-sector focused inquiry will be coordinated with the separate Select Committee inquiries relating to issues concerning Greensill Capital, finance, and lobbying (currently being undertaken by the Public Administration and Constitutional Affairs Committee, the Public Accounts Committee, and the Treasury Committee).

Source - Strategic Research Institute

voda 28 april 2021 07:54

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Russia Opens Pricing Cases against MMK, NLMK & Severstal

TASS reported that Russia’s Federal Antimonopoly Service has launched three cases against MMK, NLMK and Severstal because they maintained monopolistically high prices on the flat-rolled steel market. According to the FAS, Severstal, MMK and NLMK maintained monopolistically high prices. Given that signs of violating the anti-monopoly legislation were unveiled in the actions of the companies that are rivals on the market of hot-rolled products, FAS has launched separate cases against each company. This type of inquiry will prevent the rival companies from getting access to each other’s commercial information, and coordinating their positions and actions

The audit came on the heels of a statement that the service had received pointing to unreasonable price hikes for hot-rolled flat products. According to the FAS, the price hikes surged faster than those of commodity costs. "The demand from Russian consumers did not soar, which consequently could not trigger an increase of prices by more than 50% in the first half of 2021. These producers may face turnover-based fines if the fact of a violation is established.”

Source - Strategic Research Institute

voda 28 april 2021 07:55

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Air Liquide to Start 1700 TPD ASP at RINL by 1 May

Rashtriya Ispat Nigam Limited announced that the Arbitral Tribunal in its award on 02nd Apr’21 directed Air Liquide India Holding Pvt Ltd to commence commission of the plant no later than 01 May 2021 and RINL shall take over the plant as per the price to be determined by the Tribunal on Book value basis. In response, Air Liquide India Holding Pvt Ltd has sought an interim relief from the Tribunal demanding a progressive payment of INR 85 crore for commencement of commissioning and certain other commercial conditions. RINL has agreed for the relief sought by Air Liquide India Holding Pvt Ltd and requested them to commence commissioning of the Plant by 1 May 2021, as directed by the Arbitral Tribunal.

Rashtriya Ispat Nigam Limited had awarded a contract to Air Liquide India Holding Pvt Ltd for setting up a 2 x 850 TPD oxygen plant on Build, Own, Operate basis with a schedule for completion by January 2013. The plant erection was completed by February 2013, but the trial runs did not start due to contractual dispute between RINL and Air Liquide India on certain terms & conditions. Air Liquide India unilaterally terminated the contract in December 14. As Air Liquide India had reneged on their BOO commitment, RINL invoked Arbitration in October 17.

Out of the total capacity of 1700 Tons Per Day, about 100 Tons of Liquid Oxygen can only be produced Per Day from the ASP BOO Plant, which can be transported through road tankers for catering to the medical requirements.

Source - Strategic Research Institute

voda 28 april 2021 07:56

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thyssenkrupp Materials Services Opens Logistic Center in Rotenburg

thyssenkrupp Materials Services has put a new logistics center in Rotenburg in Lower Saxony into operation. With an innovative concept it sets new industry standards and further enhances the company's performance. thyssenkrupp Materials Services has invested around EUR 60 million in the new logistics site. This makes it one of the biggest projects in recent decades and points the way to the future of the materials business. The warehouse layout of the site has been completely redesigned. The entire process chain has a high level of automation and digitization, increasing productivity and offering customers more and more individualized services. The concept is to serve as a blueprint for other sites in the future.

The layout of the site is aligned with the optimum flow of materials and no longer has to take into account the ideal loading sequence of the trucks, as was previously the case. Driverless transport systems move the provided goods directly to the truck, which is loaded in bays at ground level. The time-consuming process of moving from one loading point to the next in the hall, which was common in the past, is no longer necessary. As a result, several trucks can be dispatched at the same time.

As the goods can be up to 20 meters long and weigh 10 tons, only the automation of the systems and the driverless transport systems have made it possible to implement the concept economically. The traffic in the storage and processing areas, which is reduced to a minimum, also reduces the risk of occupational accidents, and creates increased protection for employees. For customers, the new logistics center not only offers a wider range of materials, but also a more extensive processing portfolio. From cutting and sawing to foiling, individual services are realized in a short time.

The site is digitally integrated and connected along the entire supply chain. Orders are processed digitally and paperlessly and can thus be ideally planned and tracked. The inhouse-developed IIoT platform "toii" is the heart of the digital processes at the site. By connecting the plants digitally, data is exchanged directly without any manual intermediate steps. As a result, the materials flow is controlled more efficiently and in line with demand. In addition, automation increases plant utilization by smoothly coordinating the modern processing stations. The data analytics platform "alfred" ensures that supply flows are optimally coordinated on an ongoing basis. Based on intelligent, self-learning algorithms, it permanently analyzes the processes – from incoming goods and inventory management to order storage and delivery.

Source - Strategic Research Institute

voda 28 april 2021 07:59

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AM/NS India Opens 250 Bed COVID Hospital at Hazira

As the second wave of the Covid-19 virus swells, AM/NS India, in alliance with the Government of Gujarat and District Administration Surat, has set up a 250-bed COVID care hospital at Hazira, which will receive an uninterrupted supply of oxygen gas from its plant. This facility will be scaled up to a 1000-bed centre in the near future.

This dedicated 250-bed COVID care hospital near the AM/NS India Hazira manufacturing plant will admit only patients who need oxygen. AM/NS India will ensure speedy transfer of patients via ambulances to nearby hospitals in case they require more intensive medical intervention. Keeping in mind the logistics challenges and technical limitations involved in transporting oxygen to the hospitals, the decision was taken to set up this facility, thus ensuring continuous oxygen supply in addition to saving time.

Source - Strategic Research Institute

voda 28 april 2021 07:59

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Severstal Acquires 20% Stake in Nizhne-Volzhsky Trubny Zavod

Russian steel giant PJSC Severstal has received permission from the Federal Antimonopoly Service to acquire a 20% stake in LLC Production Association Nizhne-Volzhsky Trubny Zavod, a large pipe enterprise located in Volzhsky in the south of Russia and occupying 60% of the construction pipe market in the Southern Federal District. The deal is scheduled for completion within the next month. The amount of the deal was not disclosed.

Since April 2020, Nizhne-Volzhsky Trubny Zavod has united the capacities of three producers of small and medium-sized pipes in the Southern Federal District of Russia: TZ Profile-Akras, PK DIA and VTPZ. Now the partner's production site includes 17 electric pipe mills with a total capacity of more than 600 thousand tons of products per year. Steel pipes of NVTZ are suitable for water and gas supply, construction of pre-fabricated buildings and greenhouses, arrangement of playgrounds, park areas and other urban infrastructure, furniture, and other areas of application.

The solution strengthens Severstal's position in the domestic small and medium-sized pipe market, as well as in the CIS countries. Previously, the key markets of the company were considered to be the Center and North-West of Russia. The acquisition of a stake in NVTZ will ensure the company's presence in the Southern Federal District, as well as in the Central Asian market with hot and cold pipes of small and medium diameter, which means a significant expansion of the geography of supplies. NVTZ already supplies products to the CIS countries - such as Kazakhstan, Azerbaijan, Kyrgyzstan, Uzbekistan, Armenia.https://upload.wikimedia.org/wikipedia/commons/1/10/Volzhsky_Trubny_Zavod_002.jpeg

Source - Strategic Research Institute

voda 28 april 2021 08:00

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Tata Steel Thailand to Focus on Domestic Market

Bangkok Post reported that Thailand government’s infrastructure investments and a Thai-Chinese high-speed train project, which will fuel domestic demand for steel, is causing Tata Steel Thailand to shift its focus towards local market sales rather than export. Tata Steel Thailand chief executive Mr Rajiv Mangal said "Last year, steel consumption in Thailand reached 16.48 million tonnes and this year we are seeing positive signs that will drive steel demand. The company expects state infrastructure projects to cause steel consumption to grow up to 18-18.5 million tonnes in 2021.”

Mr Mangal added “The switch to local markets is partially due to uncertainties in export markets due to pandemic restrictions. The overseas demand too has dropped significantly during the past several months.”

Tata Steel Thailand has no immediate plan to boost its steel production capacity from 1.7 million tonnes per year but plans to spend a budget of around 250-300 million baht during April 2021-March 2022 to improve steel quality and increase production efficiency. In fiscal year 2022, Tata steel expects to sell over 1.3 million tonnes of steel.

Its total revenue in April 2020-March 2021 increased by 9.4% to 22.01 billion baht year-on-year. The steel sales volume increased by 8.49% year-on-year to 1.30 million tonnes.

www.tatasteelthailand.com/wp-content/...

Source - Strategic Research Institute

voda 28 april 2021 08:01

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Hyundai Steel Reports Strong Profits in Q1 of 2021

South Korea's No 2 steelmaker Hyundai Steel Co has swung to the black in the first quarter from a year earlier on strong sales amid the global economic recovery from the COVID-19 pandemic. For the three months that ended March 31, Hyundai Steel posted a net profit of KWR 219.9 billion (USD 198 million), shifting from a loss of KWR 115.4 billion a year earlier. The company said price hikes of its products gave a boost to the quarterly bottom line on strong demand for steel used in cars, ships and construction.

Operating profit for the January-March quarter came to KWR 303.9 billion, also shifting from an operating loss of KWR 29.7 billion won a year earlier. The operating profit was 70% higher than the average estimate.

Sales rose 5.6% YoY to KWR 4.92 trillion.

Source - Strategic Research Institute

voda 28 april 2021 08:02

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JSPL Divests Stake in Jindal Power Limited to Worldone

Jindal Power and Steel Limited’s board has approved divesting its entire equity interest of 96.4% in Jindal Power Limited to Worldone Private Limited, which is a private company owned by the Promoter Group, a promoter group company, for INR 3,015 crore. JSPL said “The divestment is in line with JSPL’s strategic objective to continuously reduce its debt, focus on its India steel business and significantly reduce carbon footprint by almost half as part of its environmental, Social, And Governance objectives.”

The deal includes 3,400 MW coal-fired power plants in Chhattisgarh and other non-core assets owned by JPL. JSPL has two coal-fired power plants in Raigarh and Tamnar totaling 3400 MW.

The divestment is subject to requisite approvals, including approval from shareholders of JSPL, lenders of JPL and JSPL, and such other statutory approvals.

Source - Strategic Research Institute

voda 28 april 2021 08:03

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Amreli Steels Issues FAC for Rebar Mill to Primetals Technologies

In February, Primetals Technologies received the final acceptance certificate for a bar mill supplied to Amreli Steels Ltd, a rebar steel producer based in Karachi in Pakistan. The rolling mill is designed to produce around 400,000 tonnes of reinforcing steel and round bars every year. Amreli Steels is the leading producer of rebars in Pakistan, and up to now had an annual production capacity of 200,000 tonnes of rebar. The new bar mill will triple the production capacity of Amreli Steels Ltd.

The new bar mill from Primetals Technologies can roll up to 75 tonnes of steel bar per hour at a top rolling speed of 13 meters per second. The mill processes billets with a square cross-section of 150 x 150 millimeters, a length of 12 meters, and a weight of 2,080 kilograms. The finished products are rebars with diameters ranging from 8 to 40 millimeters. The productivity of the plant is maximized by rolling bars with diameters of between 8 and 10 millimeters in four-slit mode, and diameters between 12 and 14 millimeters in two-slit mode.

Primetals Technologies designed the plant and supplied the processing equipment starting from the billet discharging system at the reheating furnace. The rolling line consists of a roughing mill with a VHVHVH arrangement, an HVHVHV intermediate mill, and a finishing mill with an HVHHHH arrangement. Each of these mills is equipped with six fifth-generation Red Ring stands. The scope of supply also included hot cropping and emergency shears, a heat-treatment Pomini Quenching System installed downstream of the last stand of the finishing mill, a pinch roll and hot dividing shear in front of the cooling bed. This is followed by a cold dividing shear and machines to count, bundle, weigh and label the bars. Primetals Technologies also supplied the guides, lubrication and hydraulic systems, basic automation, motors, drives and an uninterruptible power supply. In addition, Primetals Technologies will assist the customer with construction and commissioning work.

Source - Strategic Research Institute

voda 28 april 2021 08:03

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Saarland & RWTH Anchen Researchers Developing Monopiles

European high grade steel maker Dillinger announced that researchers are working to further develop monopile production for offshore wind farms with Dillinger. With an output of around ten megawatts, today’s wind turbines on the open sea have enormous dimensions. Their gigantic nacelles with a generator, rotor and rotor blades spanning more than 100 meters stand atop a steel tower. This tower, in turn, rests in the sea on colossal steel pipes known as monopiles, currently measuring up to ten meters in diameter and weighing 1,500 tonnes. To ensure that these can withstand storms, waves and aggressive saltwater over many years and still be produced economically, materials researchers at Saarland University and mechanical engineers at RWTH Aachen University want to work together with steel specialist Dillinger and other companies to develop new, customized steel grades. The research project is being supported with EUR 1.2 million from the German Ministry of Economic Affairs and Energy.

Producing the huge steel pipes for offshore wind farms requires heavy plate like that produced by the steel company Dillinger in Saarland. The plates, with wall thickness of about ten centimeters, are welded together to form pipe sections with diameters of up to ten meters. These are then joined piece by piece with additional welding seams to lengths totaling more than 80 meters.

The materials researcher and his team have developed special analytical techniques that can be used to quantitatively represent all changes in this internal structure of materials. The researcher uses high-resolution electron and ion microscopes for this, ranging up to nanotomography and atom probe tomography. Information and image sequences acquired at various scales in this process are then reassembled in the computer to form a precise spatial image of the steel structure, down to the individual atom.

The project partners are now working together with monopile producers EEW Special Pipe Constructions, the Sif Group, and the welding consumables and power source manufacturer Lincoln Electric to further optimize the steel of the heavy plate for the welding processes used in constructing offshore wind turbines.

Source - Strategic Research Institute

voda 28 april 2021 08:04

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US Steel Production Capacity Utilization Climbs to 78.4%

American Iron & Steel Institute announced that in the week ending on April 24, 2021, US’s raw steel production was 1,781,000 net tons while the capability utilization rate was 78.4%. Production was 1,240,000 net tons in the week ending April 24, 2020 while the capability utilization then was 55.4%. The current week production represents a 43.6% increase from the same period in the previous year. Production for the week ending April 24, 2021 is up 0.6 percent from the previous week ending April 17, 2021 when production was 1,770,000 net tons and the rate of capability utilization was 78.0 percent.

Adjusted year-to-date production through April 24, 2021 was 28,484,000 net tons, at a capability utilization rate of 77.2%. That is up 2.1% from the 27,905,000 net tons during the same period last year, when the capability utilization rate was 73.7%.

Broken down by districts, here’s production for the week ending April 24, 2021 in thousands of net tons: North East: 166; Great Lakes: 611; Midwest: 189; Southern: 744 and Western: 71 for a total of 1781.

Source - Strategic Research Institute

voda 28 april 2021 08:05

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BlueScope Hikes Earnings Guidance for H2 of FY2021

Australian steel maer BlueScope now expects underlying earnings before interest and tax for H2 of FY2021 to be in the range of AUD 1.0 billion to AUD1.08 billion. This is above the prior guidance range of AUD 750 million to AUD 830 million, and is subject to spread, FX and market conditions. BlueScope Managing Director and CEO Mr Mark Vassella said “The business has gone from strength to strength, benefitting from strong spreads, prices and demand. All of the BlueScope team are doing an outstanding job in working to meet exceptional customer demand. The performance continues to demonstrate the unique strength and value of our business model. BlueScope is a very different type of steel company and is in a compelling position to take advantage of emerging trends, such as demand for lower density and regional housing and for e-commerce and logistics infrastructure.”

Key drivers in improved outlook

1. The largest change to the expected result is from North Star in the US. Midwest benchmark HRC steel prices have risen strongly since the outlook was provided in February, up by around USD 250 per metric tonne, resulting in stronger than expected spreads, noting North Star's specific sales mix relative to benchmark. Importantly, the expansion project remains on track, with the new plant to be commissioned during 2H FY2022.

2. Australian Steel Products is also benefitting from improved realised domestic and export steel spreads. In addition, domestic despatch volumes are currently tracking ahead of expectations, particularly for higher value products in the building and construction sector.

3. Building Products segment is now expected to deliver an improved result over 1H FY2021 earnings, mainly due to expanding margins in the North America coated business driven by rapidly increasing steel prices. ASEAN earnings are also anticipated to be better than prior expectations due to higher than expected steel prices favourably impacting realised margins.

Source - Strategic Research Institute

voda 29 april 2021 09:07

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COVID Tsunami Delays Disinvestment of Steel Plants in India

Mint reported that Indian government’s Department of Public Investment and Management’s Secretary Mr Tuhin Kanta Pandey indicated that Indian government’s ambitious disinvestment schedule for 2021-22 may get delayed by a few months because of the second wave of the covid-19 pandemic. Mr Pandey told Mint India Investment Summit 2021 ““Any divestment would mean that there are bidders on the other side and we have to listen to them as well. To some extent, the timing will be conditioned by the way they respond. In the last month or so, the pandemic has really come like a storm. We have to wait and see if the storm passes. I must admit that with the present wave, we have to see how soon we are able to have freer physical movement, particularly flight schedules and others, because certain amount of site inspection is also involved in the due diligence. However, subject to the availability of human resources that the bidders deploy, a lot of work can progress online and some of the work that is more physical will have to actually wait till things are clearer on the physical movement side. This may lead to a little bit of a delay in the disinvestment cycle.”

Mr Pandey, however, exuded confidence that the INR 1.75 trillion target is still achievable.

According to Department of Public Investment and Management’s website, following is the status of disinvestment plansMint reported that Indian government’s Department of Public Investment and Management’s Secretary Mr Tuhin Kanta Pandey indicated that Indian government’s ambitious disinvestment schedule for 2021-22 may get delayed by a few months because of the second wave of the covid-19 pandemic. Mr Pandey told Mint India Investment Summit 2021 ““Any divestment would mean that there are bidders on the other side and we have to listen to them as well. To some extent, the timing will be conditioned by the way they respond. In the last month or so, the pandemic has really come like a storm. We have to wait and see if the storm passes. I must admit that with the present wave, we have to see how soon we are able to have freer physical movement, particularly flight schedules and others, because certain amount of site inspection is also involved in the due diligence. However, subject to the availability of human resources that the bidders deploy, a lot of work can progress online and some of the work that is more physical will have to actually wait till things are clearer on the physical movement side. This may lead to a little bit of a delay in the disinvestment cycle.”

Mr Pandey, however, exuded confidence that the INR 1.75 trillion target is still achievable.

According to Department of Public Investment and Management’s website, following is the status of disinvestment plans

EOls - Closed (Transaction in Stage II)

BPCL

Air India

Pawan Hans Ltd

SAIL SSP & VISL

Shipping Corporation of India

BEML Ltd

Neelanchal Ispat Nigam Limited

EOls - Currently Available

Nil

EOls - In Pipeline

Rashtriya Ispat Nigam Limited

CONCOR

HLL Lifecare

Project & Development India Limited, PDIL

Indian Medicine Pharmaceutical Corporation Limited, IMPCL

Source - Strategic Research Institute

voda 29 april 2021 09:07

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China Removes Export Rebate on Several Steel Products

China’s Customs Tariff Commission of the State Council breaking the 3 month long suspense finally announced removal of export tax rebates on many steel products, currently enjoying 13% rebate, from 1 May 2021 to steel exports. At the same time, another announcement from the Ministry shows that China is taking measures to boost steel imports in order to reduce domestic crude steel production. The Ministry said ''The adjustments are conducive to reducing import costs, expanding imports of steel resources, supporting domestic reduction in crude steel production, guiding the steel industry to reduce total energy consumption, and promoting the transformation and upgrading of the steel industry and high-quality development. The measures will reduce the cost of importing, expand the import of iron and steel resources and lend downward pressure to domestic crude steel output, guiding the steel industry towards the reduction of overall energy consumption, promoting the transformation and high-quality development of the steel industry.”

The items covered in export rebate removal notice include carbon steel cold-rolled sheets, coated non-alloy steel sheets, non-alloy bars and wire rods, coated non-alloy wire rods, hot-rolled stainless steel coil, sheets and plates, cold-rolled stainless steel coil, sheets and plates, stainless steel bars and wire rods, alloy-added hot rolled coil, plates, alloy-added cold-rolled plates, coated alloy-added steel sheets, hot rolled non alloy and alloy added rebar and wire rod, carbon and stainless steel pipes and sections. Most of the steel products which have not had their rebate cancelled in the latest announcement, such as carbon steel HRC, have had rebates cancelled previously.

As per media reports new structure is

HR Coil (all width) - 0% tax rebate

HR Sheet & Plate (all sizes) - 0% tax rebate

CR Sheet (all sizes) - 0% tax rebate

CR Coil (above 600mm) - 13% rebate

GI Coil (above 600mm) - 13% rebate

PPGI/PPGL Coils & Roofing Sheet (all sizes) - 0% tax rebate

Wire Rods (all sizes) - 0% tax rebate

Seamless Pipes (all sizes) - 0% tax rebate

Please decipher the impact on your business through HS codes details given vide another article.

The ministry also announced a policy on adjusting import taxes of ferrous raw materials, which aims to reduce import costs and increase imports of steel making raw materials. Import duties on pig iron, DRI, scrap, ferrochrome, carbon billet and stainless steel billet are removed from 1 May while the export taxes on ferrosilicon, ferrochrome, high-purity pig iron and other products has meanwhile been raised by about 5%.

Source - Strategic Research Institute

voda 29 april 2021 09:08

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Lord Myners Red Flags Lawyer Choice in Greensill Probe

Chester Standard reported that former Financial Services Secretary, referred to as City Minister, in UK's finance ministry’s HM Treasury during the Labour Government of Mr Gordon Brown during 2008-2010 Lord Myners while speaking in front of the Treasury Select Committee said that the Prime Minister chose a lawyer who is not appropriate to lead a review into lobbying around Greensill Capital, whose collapse could cost the taxpayer up to GBP 5 billion. He listed three reasons why Mr Boardman is not suitable. Firstly he has a role as a non-executive director at the Department for Business, Energy and Industrial Strategy. He also told MPs that a recent report Mr Boardman produced for the Government into procurement was a whitewash, and the lawyer also argued against a piece of lobbying legislation which was introduced in 2012. Lord Myners said “If the reviewer appears to be compromised, that will forever damage the acceptability of the report that is produced. I believe the review that has been commissioned by the Prime Minister should have been handled by a retired high court judge or somebody from the commercial bench.”

In further evidence to the committee, Lord Myners said that Mr Cameron’s involvement with Greensill likely won it many meetings with senior officials, including Charles Roxburgh, the second permanent secretary to the Treasury. He said “The Chancellor said he was pushing his officials, and that I think explains why there were nine meetings. That would have been a significant distraction because Roxburgh is one of the most senior and talented people in the Treasury, and it does seem tiresome at the very minimum that he was required to spend so much time on Greensill. I have no doubt that he would not have done that had it not been for the pressing by David Cameron on the Chancellor of the Exchequer and two other senior Treasury ministers.”

Lord Myners estimates that the direct cost to the taxpayer will be north of GBP 1 billion of which nearly half will come from the Department of Business’s scheme to accredit Greensill as a lender under the coronavirus loan scheme while the remainder could come from a potential help for one of the UK’s main steel producers, which has been left reeling from Greensill’s collapse.

Lord Myners, who declined a position as a non-executive director on the Greensill board in 2019, has previously expressed concern around the supply chain firm. In March, he told Financial News that the warning signs around Greensill were ignored and said the collapse was the latest failure by the Financial Conduct Authority.

UK’s Prime Minister Mr Boris Johnson has asked lawyer Mr Nigel Boardman to lead a review into the financing company’s lobbying.

The influential group of MPs, tasked with holding the Treasury and the City to account, wrote to a number of senior government officials asking a series of questions relating to the scandal, as well as the governor of the Bank of England Mr Andrew Bailey, former Prime Minister Mr David Cameron and Chancellor of the Exchequer Mr Rishi Sunak.

Source - Strategic Research Institute

voda 29 april 2021 09:10

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Acciaierie d'Italia Choose Logo with Italian Tricolor

ANSA reported that the former Ilva & later ArcelorMittal Italia, after changing its name with the entry of Invitalia into the share capital to become Acciaierie d'Italia, has chosen logo representing a detail of a coil, the roll shape in which the steel ready for subsequent transformations is sold, painted in the colors of the Italian flag and facing the tall. The logo emphasizes on the one hand the product and on the other hand the deep bond with the country of the three production sites of Genoa, Novi Ligure and Taranto. The company said “It is the only one in Italy to produce primary steel, which is fundamental for the national mechanics chain, which, as is well known, accounts for a very significant share of the gross domestic product.”

Separately, ArcelorMittal Italia announced that “With the payment of the relative quota on April 15 2021, the entry of the National Agency for the Attraction of Investments and Business Development SpA, Invitalia, into the share capital of AM InvestCo Italy SpA, with a shareholding 38% of the share capital. The remaining 62% stake remains with the ArcelorMittal Group, which no longer exercises management and coordination activities on AM InvestCo Italy SpA. The extraordinary shareholders' meeting which approved the capital increase reserved for Invitalia also approved the change of the company name of the company AM InvestCo Italy SpA to Acciaierie d'Italia Holding SpA. The company names of the subsidiaries and companies subject to management and coordination by Acciaierie d'Italia Holding SpA are also varied.”

1. ArcelorMittal Italia SpA is renamed Acciaierie d'Italia SpA

2. ArcelorMittal Italy Energy Srl is renamed Adl Energia Srl

3. ArcelorMittal Italy Maritime Services Srl is renamed Adl Servizi Marittimi Srl

4. ArcelorMittal Italy Tubular Srl is renamed Adl Tubiforma Srl

5. ArcelorMittal Socova Sas is renamed Adl Socova Sas

Offices, tax codes and VAT numbers, telephone numbers of all companies remain unchanged. ArcelorMittal Italia said “We invite our Dear Customers, Suppliers and all contractual counterparties to proceed with the adoption of the new company names on all documents, including tax documents, to be addressed to these Companies.”

Source - Strategic Research Institute

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