Beursonline.nl

voda 4 mei 2021 11:24

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Ecopetrol Adopts Tenaris’s TenCoat HDPE Liner for Fields Colombia

Tenaris long time partner Ecopetrol has adopted the company’s TenCoat HDPE Liner in the Casabe, La Cira and Cantagallo fields to extend the lifespan of the tubing. The development of the TenCoat HDPE Liner product began four years ago as part of collaboration between Tenaris, Ecopetrol and the Colombian Petroleum Institute to search for operational efficiencies in mature fields. TenCoat HDPE Liner is a high-density polyethylene inner liner used in production tubing. The solution offers mechanical protection to the pipe, preventing wear by abrasion and friction, and also providing anti-corrosion protection. The benefits of the product were initially verified in nine wells in the Casabe field, where the life cycle of the pipes could be extended up to 10 times by reducing friction failures with sucker rods.

Other mature fields in the regional center of Ecopetrol, such as La Cira and Cantagallo, have also adopted TenCoat HDPE Liner due to the proven performance of the product at the Casabe’s field.

Source - Strategic Research Institute

voda 4 mei 2021 11:24

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Tangshan Ganglu Orders Electrostatic Precipitators from SMS Group

Hebei China based Tangshan Ganglu Iron & Steel Co Ltd has commissioned SMS group to supply two wet electrostatic precipitators for two BOF converters. The wet electrostatic precipitators, WESP, supplement the gas cleaning plants of the 180 tonne BOF converters. Each of the BOF converters has a gas volume of approximately 216,000 cubic meters per hour. The scope of supply of SMS group as engineering, procurement and construction contractor comprises two wet electrostatic precipitators, the adaptation of the water supply and treatment system, erection & installation and technical support during the commissioning process. Commissioning is scheduled for summer 2021.

Wet electrostatic precipitators separate solid particles from the process gas. For this purpose, spray electrodes fed with rectified negative high voltage emit electrons. These electrons move to the collecting electrodes and, on their way, collide with gas molecules and dust particles. Due to the resulting attachment of the electrons to the dust particles, the particles are negatively charged and transported by the existing electric field to the grounded collecting electrodes to which they adhere. The collecting electrodes are cleaned with water. The wet electrostatic precipitators enable compliance with the most stringent environmental protection requirements.

Source - Strategic Research Institute

voda 4 mei 2021 11:28

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Tashin Holding Reports Strong Surge in Profits in Q1 of 2021

Local media reported that Malaysian Tashin Holdings Bhd’s net profit for its first quarter ended March 31, 2021 surged 16 fold to MYR 12.23 million from MYR 724,000 reported in the same quarter of the previous year on higher demand for its steel products and selling price. Revenue for the period improved to MYR 95.22 million, a 55.2% gain from MYR 61.35 million reported previously. Tashin Holdings Managing Director Mr Lim Choon Teik said “The strong performance was attributed to its slit coils & steel sheets as well as manufactured products such as steel pipes, flat and square bars, expanded metals and checkered plates. Tashin experienced improved sales for its steel products and profit margin during Q1 of 2021 as the economy saw a gradual return to normalisation while business sentiments improved after one year of the Covid-19 pandemic.”

He added “Barring unforeseen circumstances, the board is cautiously optimistic its prospects for the coming quarter would remain positive and satisfactory due to higher demand in the steel processing segment and steel pipes and increased sales order from the automotive segment. However, there is a shortage of certain types of steel material such as cold-rolled materials, which may cause an interruption in the supply chain and pose a challenge to Tashin's operations.”

Penang Malaysia based Tashin Holdings Berhad is principally an investment holding company with subsidiary companies mainly engaged in the steel related sector encompassing both manufacturing and trading activities. Holding company of Tashin Holdings Berhad, Tashin Steel Sdn Bhd’s principal activities are processing of steel mother coils into Slit Coils and Sheets, trading and manufacturing of Steel Pipes, Expanded Metals and C Purlins. Tashin Hardware Sdn Bhd is manufacturing Flat and Square Bars, Checkered Plates. In additions to manufactured products, Tashin Hardware is a stockist of square and rectangular hollow sections, window pipes, heavy section flat bars and plates, checkered plates, furniture pipes, black & GI pipes and channels & angle bars.

Source - Strategic Research Institute

voda 4 mei 2021 11:28

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Alter Trading Buys Gerdau’s StPaul Recycling Facility in Minnesota

St Louis Missouri US headquartered Alter Trading Corp has purchased the assets of Gerdau’s St Paul Barge Channel Road recycling facility in Minnesota. The acquired facility is next to a current Alter location and will allow Alter Logistics to complete the expansion of its St Paul Terminal’s fertilizer business. Alter Trading will hire all the current Gerdau team members. Alter Trading President & CEO Mr Jay Robinovitz said “Gerdau and Alter have a long and mutually beneficial working relationship, and we at Alter appreciate Gerdau’s willingness to help us expand our terminal business. We consider Gerdau a strategic trading partner, and we look forward to many years of continued business.”

Alter Trading Corporation is one of US's leading scrap metal recyclers and brokers, with processing centers and offices throughout the central United States. Founded in 1898, Alter is a privately owned fifth-generation company and is ISO 9001 and 14001 certified. The company employs 1,350 people and operates 70 metal recycling facilities and seven trading offices in eight states and a representative sales office in Hong Kong.

Source - Strategic Research Institute

voda 4 mei 2021 11:30

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AFV Beltrame’s Stahl Gerlafingen Switches to Rail for Scrap

Stahl Gerlafingen, together with its partners SBB CFF FFS and Ultra Brag AG, has implemented a pioneering and climate friendly transport solution for scrap. SBB Cargo is realizing a pioneering and climate-friendly transport solution for scrap for steel recovery with logistics partner Ultra-Brag AG and Stahl Gerlafingen AG. Instead of using the road as it has been in the past, up to 100,000 tonnes of steel scrap for Stahl Gerlafingen from abroad will be logistically controlled so that they can be delivered on demand by rail from the Swiss Rhine ports directly to the Gerlafingen plant. Ultra-Brag AG is responsible for the temporary storage and loading of the steel scrap. This relieves the roads of around 4,000 trucks a year. SBB Cargo is already on the road for Stahl Gerlafingen in domestic traffic in Switzerland. The two companies have now signed a contract for additional transport of scrap by rail until 2023. Traffic started on April 8, 2021 from the Ultra-Brag Terminal in Birsfelden in the direction of the Gerlafingen plant.

The solution is a small detour and with a third partner: The scrap arrives at the Ultra-Brag-Terminal in the port of Birsfelden by barge and truck, is stored and, as required, loaded into rail wagons for transport to Gerlafingen. This expansion of the logistics concept through temporary storage and subsequent loading onto freight wagons makes a contribution to shifting traffic from road to rail.

On 7 April 2021, the first cargo train filled with material left Basel for Gerlafingen. In the future, up to 100,000 tonnes of steel scrap from neighbouring countries per year can be managed logistically to be delivered on-demand and in rail-ready quantities by SBB Cargo from the Swiss Rhine ports directly to the Gerlafingen plant. This result will come as a relief for the locals in the Gerlafingen and Basel region. It will also help to reduce traffic on the heavy used Swiss motorways A2 and A1.

Gerlafingen Solothurn Switzerland based Stahl Gerlafingen AG is an important company within the AFV Beltrame Group, which is the European market leader in the production of steel bars and sections. Around 540 employees in Gerlafingen produce over 700,000 tonnes of reinforcement and profile steel from scrap steel every year. Stahl Gerlafingen AG is the largest recycling company in Switzerland.

Source - Strategic Research Institute

voda 4 mei 2021 11:30

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US Steel Production Capacity Utilization Climbs Further in Week 17

American Iron & Steel Institute announced that in the week ending on May 1, 2021, US’s raw steel production was 1,788,000 net tons while the capability utilization rate was 78.7%. Production was 1,238,000 net tons in the week ending May 1, 2020 while the capability utilization then was 55.2%. The current week production represents a 44.4% increase from the same period in the previous year. Production for the week ending May 1, 2021 is up 0.4% from the previous week ending April 24, 2021 when production was 1,781,000 net tons and the rate of capability utilization was 78.4%.

Adjusted year-to-date production through May 1, 2021 was 30,315,000 net tons, at a capability utilization rate of 77.4 percent. That is up 4.0 percent from the 29,143,000 net tons during the same period last year, when the capability utilization rate was 73.6 percent.

Broken down by districts, here’s production for the week ending May 1, 2021 in thousands of net tons: North East: 160; Great Lakes: 616; Midwest: 185; Southern: 756 and Western: 71 for a total of 1788.

Source - Strategic Research Institute

voda 5 mei 2021 09:20

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CO2-uitstoot grote bedrijven daalt, wel verschuiving naar biomassa
Van onze redacteur 08:56

Met een uitstoot van ruim 5,7 miljoen ton stoot Tata Steel in IJmuiden de meeste CO2 uit. Foto: Yves Herman/Reuters
De CO2-uitstoot van grote bedrijven in Nederland is in coronajaar 2020 met 11,5% gedaald. De emissie van kolencentrales is vorig jaar zelfs gehalveerd. Dat blijkt uit cijfers van de Nederlandse Emissie Autoriteit (NEa).

De toezichthouder meet de uitstoot van alle Nederlandse bedrijven die vallen onder het Europese emissiehandelssysteem. Dat zijn 419 grote bedrijven, samen goed voor ongeveer de helft van alle Nederlandse CO2-uitstoot. In 2020 ging in het in totaal om 74,1 miljoen ton, in 2019 nog was dit nog 83,7 miljoen ton. De NEa spreekt van de grootste daling sinds 2013.

Tata Steel IJmuiden
Met een uitstoot van ruim 5,7 miljoen ton stoot Tata Steel in Velsen de meeste CO2 uit. Op plaats twee staat de raffinaderij van Shell in Pernis (4,1 miljoen ton). De elektriciteitscentrale van Vattenfall in Velsen (3,4 miljoen ton) maakt de top drie compleet.

Uit de cijfers blijkt ook dat de CO2-uitstoot van de energiesector voor het derde jaar achter elkaar sterker daalt dan die van de industrie. In de energiesector is een grote verschuiving te zien van steenkool naar biomassa.

Heet hangijzer
Biomassa is een heet hangijzer in de klimaatdiscussie: CO2-uitstoot die hierbij vrijkomt, telt formeel niet mee. Lange tijd zag het inmiddels demissionaire kabinet het verbranden van (rest)hout voor de opwekking van energie als een van de manieren om de klimaatdoelen te halen. Een boom groeit terug, dus de CO2-uitstoot die verbranding veroorzaakt wordt daardoor tenietgedaan, zo was de gedachte.

Maar op dat standpunt zijn milieuclubs en ook politieke partijen teruggekomen, al dan niet door de gestegen maatschappelijke onrust. Sommigen van hen willen er direct mee stoppen, anderen willen afbouwen door geen nieuwe subsidies te verlenen en oude centrales op termijn te sluiten. Zonder biomassa wordt het wel moeilijk om klimaatdoelen te halen, want andere technieken zijn duurder of minder ver ontwikkeld.

Lees het volledige artikel: fd.nl/economie-politiek/1382925/co-ui...

voda 6 mei 2021 07:34

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ArcelorMittal ziet winst flink aantrekken
Bijna verdubbeling nettowinst.

(ABM FN-Dow Jones) ArcelorMittal zag in het eerste kwartaal van 2021 de resultaten flink aantrekken. Dit bleek donderdag voorbeurs uit kwartaalcijfers van de staalreus.

"Het afgelopen kwartaal was ons sterkste kwartaal in een decennium", aldus topman Aditya Mittal in een toelichting op de cijfers.

In de afgelopen verslagperiode realiseerde ArcelorMittal een EBITDA-resultaat van 3.242 miljoen dollar, hetgeen overtuigend meer was dan de 2.965 miljoen dollar waar analisten op rekenden. Over het vierde kwartaal van 2020 was dit nog 1.726 miljoen dollar en een jaar eerder 967 miljoen dollar.

Het operationele resultaat kwam uit op 2.641 miljoen dollar tegen 1.207 miljoen dollar een kwartaal eerder. Een jaar geleden was het staalconcern nog verlieslatend.

De omzet van ArcelorMittal steeg daarnaast op kwartaalbasis van 14.184 miljoen dollar naar 16.193 miljoen dollar. De omzet bleef in het eerste kwartaal van 2020 nog steken op 14.844 miljoen dollar.

Onder de streep restte afgelopen kwartaal een nettowinst van 2.285 miljoen dollar, ofwel bijna een verdubbeling ten opzichte van de winst van 1.207 miljoen dollar in het vierde kwartaal van 2020. In het eerste kwartaal van 2020 boekte de onderneming nog een nettoverlies van 353 miljoen dollar.

Door de winstgevendheid wist de onderneming zijn nettoschuld op kwartaalbasis te verlagen van 6,4 naar 5,9 miljard dollar.

Outlook

ArcelorMittal gaf aan te verwachten dat de wereldwijde vraag naar staal dit jaar met 4,5 tot 5,5 procent zal groeien.

Dividend

In juni dit jaar wil de onderneming een dividend van 0,30 dollar per aandeel uitkeren, na goedkeuring op de aandeelhoudersvergadering.

Aandeleninkoop

Het bedrijf heeft een aandeleninkoop met een waarde van 650 miljoen dollar afgerond. De inkoop volgde op de verkoop van een belang in Cleveland-Cliffs ter waarde van 651,6 miljoen dollar. Conform een eerder aangekondigd inkoopprogramma wordt momenteel voor 570 miljoen dollar aan eigen aandelen ingekocht.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

voda 6 mei 2021 08:12

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'Sterkste kwartaal in 10 jaar voor staalconcern ArcelorMittal'
Van onze redacteur 08:10

Staalconcern ArcelorMittal heeft het sterkste kwartaal in jaren gedraaid. Dat blijkt uit de cijfers die het bedrijf donderdag bekend heeft gemaakt. De verbeterde resultaten zijn voornamelijk het gevolg van de 'aanzienlijk' hogere prijzen voor staal wereldwijd en een hogere opbrengst uit de eigen mijnen door een hogere prijs van ijzererts.

ArcelorMittal MT€25,91-- heeft fabrieken in achttien landen, zetelt in Luxemburg en is onder meer genoteerd aan de Amsterdamse beurs. De dichtstbijzijnde ArcelorMittal-fabriek staat in het Belgische Gent.

Het bedrijf noteert een bruto bedrijfsresultaat (ebitda) van $3,2 mrd in het eerste kwartaal van 2021. Dat is een toename van 88% ten opzichte van een kwartaal eerder en een stijging van 220% ten opzichte van dezelfde periode vorig jaar. Het is volgens het bedrijf het sterkste kwartaal in een decennium.

Daarbij produceerde het bedrijf minder staal dan een jaar geleden. In het eerste kwartaal van 2021 heeft het bedrijf 16,5 Mt verzonden, een jaar eerder was dit nog 19,5 Mt.

Opkrabbelen
Het bedrijf werd begin vorig jaar hard geraakt door de coronacrisis. Destijds maakte ArcelorMittal al bekend dat het de productie en afwerking van staal tijdelijk terug zou schroeven om kosten te besparen. Het bedrijf zag aanzienlijke dalingen in grote markten waarin ze actief zijn, zoals de bouw en de auto-industrie.

Ondanks de huidige verbeteringen blijft het bedrijf voorzichtig. 'Het eerste kwartaal van dit jaar was ons sterkste kwartaal in tien jaar. Hoewel dit natuurlijk een zeer welkome ontwikkeling is na een zeer uitdagend 2020, zijn we ons ervan bewust dat covid wereldwijd een uitdaging blijft, vooral in de opkomende economieën', schrijft ceo Aditya Mittal in de persverklaring.

Volgens de nieuwe ceo, de zoon van voormalig ceo Lakshmi Mittal, zijn de prioriteiten duidelijk: concurrerend blijven, projecten met hoog rendement in snelgroeiende markten, huidige infrastructuur benutten, consistent geld teruggeven aan aandeelhouders en voorop lopen in duurzame ontwikkeling, zo schrijft hij.

Schuldafbouw en Italië
Onder aan de streep noteert het bedrijf een plus van $2,3 mrd. Een jaar geleden was dit in hetzelfde kwartaal nog een min van $1,1 mrd. De cashflow komt uit op $0,3 mrd, ondanks een investering van $1,6 mrd in het werkkapitaal, het gevolg van zowel seizoenseffecten als een sterkere vraag. Het bedrijf bouwde ook de schuld verder af, naar $5,9 mrd.

In Italië gaat het bedrijf een publiek-privaat partnership aan met Invitalia. Het nieuwe bedrijf, dat Acciaierie d’Italia zal heten, opereert onafhankelijk.

Lees het volledige artikel: fd.nl/ondernemen/1383095/sterkste-kwa...

voda 6 mei 2021 09:12

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Liberty Steel Makes Progress in Securing Australian Business

After a month long break, GFG Alliance has made an official release on current business situation. GFG Alliance said “Most of GFG Alliance’s businesses across its global portfolio are performing well and generating positive cash flows, supported by the operational improvements we’ve made and strong steel, aluminium and iron ore markets. Our Primary Steel and Mining operations in Europe and Australia are booking record profits and we have adequate funding for our current needs. In light of Greensill’s collapse, we are taking prudent steps across our global portfolio to manage resources while we bridge to new financing for our businesses. We are in regular dialogue with our employees, unions, customers, suppliers, and governments to keep them informed and to explore ways we can work together through the current situation. LIBERTY is prudently managing cash across its global operations to ensure it has adequate funding for its current needs while its refinancing is completed. LIBERTY is making good progress with refinancing as LIBERTY Primary Steel and Mining Australia has agreed terms to refinance its Greensill exposure. Record steel prices and LIBERTY’s operational improvement programme have enabled its core businesses to maintain their strong performance since the beginning of the year.”

A GFG spokesperson said: “The new financing is sufficient to pay out Greensill debt in full and to provide on going working capital for the LPMA group, which includes the integrated mining and primary steel business at Whyalla and its coking coalmine at Tahmoor. GFG Alliance is in continuous discussions with multiple financiers on a competitive basis for various parts of its business and is committed to securing sustainable funding solutions to replace funding provided by Greensill.”

According to a report in The Guardian, “Liberty Primary Metals Australia, which includes a mining and steel business in Whyalla and a coalmine at Tahmoor, had agreed a deal to refinance loans previously extended by Greensill. It is understood that the financing has been agreed with San Francisco-based White Oak Global Advisors and could take up to four weeks for the deal to complete.”

The decision could impact on the direction of court action by Citibank, acting on behalf of Credit Suisse, launched in an attempt to wind up two of Mr Gupta's operations OneSteel Manufacturing and Tahmoor Coal.

UK steelworkers’ union Community Operations Director Mr Alasdair McDiarmid said “The development shows that GFG can raise new financing, but it remains to be seen what it means for the UK. Sanjeev Gupta has promised to keep every UK steel plant open but he needs to persuade us he has the plans to accomplish this. Government has a key role to play and must explore all options to keep the businesses out of insolvency.”

Source - Strategic Research Institute

voda 6 mei 2021 09:12

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Tata Steel Reports INR 26,309 per Tonne EBIDTA in Q4 of 2020-21

Tata Steel while reporting performance results for January-March 2021 quarter & FY 2020-21 highlighted that consolidated profit after tax for its Indian operations in January-March 2021 surged to INR 8,846 crores up from INR 4832 crores in October-December 2020 and from minus INR 563 crores in January-March 2020, driven by super strong EBITDA of INR 26,309 per tonne.

FY 2020-21 Indian Operations

Production - 16.92 million tonnes, -7% YoY

Deliveries - 17.31 million tonnes, +2%YoY

Turnover - INR 91,037 crores, +11% YoY

EBITDA - INR 28,587 crores, +62% YoY

EBITDA per tonne - INR 16,515 crores, +59% YoY

Profit after Tax - INR 16,695 crores, +198% YoY

India includes Tata Steel Standalone, Tata Steel BSL Limited and Tata Steel Long Products Limited on proforma basis without inter-company eliminations

FY 2020-21 Consolidated

Production - 28.54 million tonnes, -7% YoY

Deliveries- 28.5 million tonnes, -1% YoY

Turnover - INR 156,294 crores, +5% YoY

EBITDA - INR 30,892 crores, +71% YoY

EBITDA per tonne - INR 10,838 crores, +73% YoY

Profit after Tax - INR 8,190 crores, 599% YoY

Tata Steel CEO & Managing Director Mr TV Narendran said “First half of financial year 2021 was a challenging period with the uncertainties and complexities brought on by the COVID-19 pandemic. Indian economy and domestic steel demand has been improving since then with accommodative policies, government spending and relaxation in mobility restrictions. Despite a slow start in first quarter, we managed to deliver strong performance in India with broad based, market leading volume growth supported by our agile business model. All our segments, especially automotive, have performed extremely well due to our continuous focus on building strong customer relationships, superior distribution network, brands, and new product developments. We are also making good progress on our various initiatives to de-risk the business while our digital marketing platforms are helping us reach new markets and be future ready. The second wave of COVID-19 in India is a risk and we are working to minimize the impact on our employees and communities while meeting the requirements of our customers. We continue to work on our strategic priorities to maximize shareholders value. Work on the pellet plant and CRM complex at Kalinganagar is progressing well. We have also restarted our 5mtpa expansion project which should be completed in FY24.”

Shareholders have approved the merger of Tata Steel BSL with Tata Steel. A joint “Scheme Petition” has been filed with the NCLT to sanction the scheme with effect from 1st April, 2019. The merger of Tata Metaliks and Indian Steel and Wire Products with Tata Steel Long Products in also underway.

Source - Strategic Research Institute

voda 6 mei 2021 09:14

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RINL VSP Worker Union Postpones May 6 Strike over COVID19 Spread

Hans News Service reported that trade union leaders of Visakhapatnam Steel Plant announced postponement of the strike forthe wage agreement for workers scheduled on May 6. The decision has been taken in view of the spike in Covid cases Visakhapatnam. Trade union leaders of VSP met RINL Director Personnel Mr K C Das and handed over a representation on the postponement of the strike.

However, RINL VSP recognised union president Mr J Ayodhyaram demanded that the plant management should implement a wage agreement.

Source - Strategic Research Institute

voda 6 mei 2021 09:15

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Mr Gupta Appoints Restructuring Experts to Navigate Collapse

GFG Alliance Chairman Mr Sanjeev Gupta has shaken up the executive ranks at his global Liberty Steel business by appointing a four men restructuring and transformation committee, as he battles to save the company from being dragged under by the collapse of Greensill Capital. LIBERTY Steel said that four experienced board directors will lead and accelerate the restructuring and refinancing of LIBERTY in order to protect and maximise creditor and stakeholder value. The new appointments will join the LIBERTY board with immediate effect and form a new Restructuring & Transformation Committee which will be led by an independent Chief Restructuring Officer and include an independent Chief Transformation Officer, a Chief Governance Officer and a newly appointed Chief Financial Officer. The RTC will be given full autonomy to restructure LIBERTY’s operations to focus on core profitable units, and either fix or sell underperforming units. The Restructuring & Transformation Committee will be supported by LIBERTY management and report to the full LIBERTY board.

Mr Jeffrey S Stein joins LIBERTY as Chief Restructuring Officer. Mr Jeffrey is an accomplished corporate executive and director, including leadership and committee positions, of both public and private companies. Mr Jeffrey has served as an Executive Chairman, Chief Restructuring Officer and Liquidating Trustee and as a director on audit, compensation, corporate governance, finance, restructuring, and risk committees including as Chairman of those committees. Mr Jeffrey previously served as Chief Restructuring Officer of Whiting Petroleum Corporation, Philadelphia Energy Solutions LLC and Westmoreland Coal Company. Mr Jeffrey has substantial transaction experience, generating positive returns for investors. Mr Jeffrey is a Certified Turnaround Professional as designated by the Turnaround Management Association. Mr Jeffrey will be based in the US but will be present across our businesses as appropriate.

Mr Jeff Kabel joins LIBERTY as Chief Transformation Officer. Mr Jeff is a commercial leader with broad trading and asset optimisation background in the metals & mining and energy industries. Mr Jeff is Chairman Emeritus of the International Steel Trade Association and helped lead its collaboration with the UK government to align the cost competitiveness of UK producers with their European competition. Before this Jeff was Executive Director at JP Morgan in London. Prior to his time at JP Morgan he operated in a similar capacity at Koch Industries. Mr Jeff will be based in London.

Mr Iain Hunter joins LIBERTY as Chief Governance Officer. Mr Iain is an experienced business leader with a career spanning over 30 years in financial services including fifteen years serving on boards dealing with a range of governance issues for growth companies and those in more challenged circumstances. Mr Iain served as Chief Executive Officer of Wyelands Bank plc between 2015-2020, prior to which he held several senior leadership positions at CIT Bank Limited including Chief Executive Officer and Chief Risk Officer during the global financial crisis. Mr Iain will be based in Dubai.

Mr Deepak Sogani joins LIBERTY as its new Chief Financial Officer and interim CFO for GFG Alliance. Mr Deepak is replacing Mr V Ashok, who has decided to step down for personal reasons. Mr Deepak has a track record for successful restructuring and refinancing situations during major roles in the metals industry, serving as the CFO for the listed steel producer Jindal Steel and Power Limited and, most recently, as Managing Director for Metals & Mining at Essar Capital Services. Mr Deepak will be based in Dubai.

Source - Strategic Research Institute

voda 6 mei 2021 09:15

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Danieli to Build New EAF & Ladle Furnace at OEMK of Metalloinvest

Russian Metalloinvest selected Danieli to supply a new electric arc furnace EAF 5 and a new Ladle Furnace LF 4 to be installed at the Alexey Ugarov OEMK plant in Stary Oskol in southwest Russia, to produce quality steel grades, including SBQ steel for the automotive and bearing industries. EAF 5 will operate with up to 100% DRI in the burden, delivering 1.2 million tonnes per year of liquid steel to be refined in the new ladle furnace. EAF 5 is scheduled to be commissioned in 2023 and LF 4 in 2024.

Technically, the new furnace will feature a wide set of Danieli technological packages, such as Thor 3K automatic door, Q-Sand charging system, robotic sampling manipulator and advanced Danieli Automation controls for increased productivity. The order also includes a new EAF primary dedusting line with a quenching tower, and an EAF charging crane as well.

Source - Strategic Research Institute

voda 6 mei 2021 09:16

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RINL Steps Up on Oxygen Supplies to Save Lives from COVID19

Rashtriya Ispat Nigam Limited announced that the five units of oxygen plants in the Visakhapatnam Steel Plant are in full operation and loading & dispatching of cryogenic rankers with Liquid Medical Oxygen at site is continued. RINL-Vizag Steel has already supplied 3,050 tonnes of LMO till 5 May since 13 April 2021 and cumulative dispatch has crossed 11,900 tonnes mark since onset of pandemic. This is being dispatched primarily to Andhra Pradesh and Karnataka. On 22nd April the first Oxygen Express carrying 100 tonnes of LMO in 7 Cryogenic tankers was dispatched to Maharashtra to meet the critical medical emergencies in the state.

Activities for commissioning of the new 2x850 TPD Oxygen plant ,which has been under arbitration, has begun at site with RINL taking some proactive positive steps with the agency ALIH . Experts from the agency have already arrived at site for health assessment of installed plant & machineries which will be followed by trial runs of equipment and later integrated trial runs before commissioning and production of LMO. The new plant will generate 100 tonnes liquid medical Oxygen.

Source - Strategic Research Institute

voda 6 mei 2021 09:16

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Nucor to Upgrade Engineered Bar Mill in Nebraska

Leading US Steel maker Nucor Corporation Board of Directors has approved a project to upgrade the company's engineered bar mill in Nebraska to better serve the automotive market and continue to meet its customers' needs for the highest quality products. The modernization project will include a new reheat furnace, new intermediate mill, and coil inspection and trimming station. The USD 58 million investment project is expected to be completed and operational in the fourth quarter of 2022.

When completed, these upgrades will enhance Nucor Steel Nebraska's ability to produce engineered bar and coil products with improved surface quality and reduced decarburization, which are required to meet high-end engineered bar automotive applications. This investment will further diversify the products supplied from Nucor Steel Nebraska. Additionally, this project will further our commitment to safety by allowing Nucor teammates to do their work away from the rolling process.

Located in Norfolk, Nucor Steel Nebraska has been operating since 1973 and employs 500 teammates. From 2012 to 2015, Nucor invested heavily in Nebraska to boost its production of special bar quality steel) for the demanding engineered bar market, driven by energy, automotive, heavy truck and heavy equipment manufacturers.

Source - Strategic Research Institute

voda 6 mei 2021 09:19

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US Steel Imports in April Shrink by 10% MoM

Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis data, the American Iron and Steel Institute reported that steel import permit applications for the month of April totaled 2,452,000 net tons. This was a 9.9% decrease from the 2,722,000 permit net tons recorded in March and a 6.3% increase from the March final imports total of 2,308,000 net tons. Import permit tonnage for finished steel in April was 1,620,000 net tons, down 9.5% from the final imports total of 1,789,000 net tons in March. For the first four months of 2021, including April SIMA permits and March final imports, total and finished steel imports were 9,081,000 net tons and 6,083,000 net tons, down 1.2% and up 4.5%, respectively, from the same period in 2020. The estimated finished steel import market share in April was 18% and is 18% year-to-date.

Finished steel imports with large increases in April permits vs. the March final imports include heavy structural shapes (up 62%), plates in coils (up 44%), tool steel (up 33%) and cut lengths plates (up 24%). Products with significant year-to date (YTD) increases vs. the same period in 2020 include steel piling (up 196%), cut lengths plates (up 36%), sheet and strip all other metallic coatings (up 31%), hot rolled sheets (up 25%), plates in coils (up 21%), tin plate (up 16%), reinforcing bars (up 11%) and wire drawn (up 10%).

In April, the largest finished steel import permit applications for offshore countries were for South Korea (215,000 NT, down 10% from March final), Japan (82,000 NT, down 4%), Germany (62,000 NT, down 25%), Turkey (59,000 NT, up 38%) and Brazil (48,000 NT, up 282%). Through the first four months of 2021, the largest offshore suppliers were South Korea (816,000 NT, up 15% from the same period last year), Japan (300,000 NT, up 11%) and Germany (232,000 NT, no change).

Source - Strategic Research Institute

voda 6 mei 2021 09:20

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SMS Group to Upgrade HSM of Habas in Turkey

Turkish steel producer Habas AS has awarded SMS group the order to expand the hot strip mill at its Aliaga site near Izmir. The rolling mill, supplied and commissioned by SMS, has been in operation since 2014. With this project, Habas intends to boost the mill capacity to 4.5 million tonnes per year. As well as carbon steels, the product range will include HSLA steels, pipe grades and multi-phase steels. The mill will be able to process slabs of up to 225 millimeters thickness, up to 2,100 millimeters width and up to 12 meters length, and produce hot strip between 700 and 2,100 millimeters wide and between 1.2 and 25.4 millimeters thick. Commissioning of the upgraded rolling mill is scheduled for early 2023.

As early as in 2012, when Habas ordered the mill, the company had decided in favor of the flexible SMS concept which provides for an upgrade in several stages to a high-performance hot strip mill. For the current upgrade, Habas has ordered a second roughing stand with attached edger E1/R1 and a third downcoiler DC 3. The new edger E1 will be of identical design as the existing one E2. The achievable increase in width reduction will facilitate production planning and make slab inventory more efficient. The hydraulically adjustable roughing stand will be equipped with a high-performance CFR system for camber-free rolling. Identical in design to the existing downcoilers DC1 and DC2, the new downcoiler DC3 will be able to handle the complete range of hot strip grades and sizes, including strips in pipe grades of up to 25.4 millimeters thickness, – thanks to its very robust construction.

SMS group company AMOVA GmbH is going to supply the equipment connecting to the existing pallet transport system and additional transportation equipment. AMOVA’s supply scope for the coil handling area includes the access to the existing pallet conveyor for hot coil removal, a coil strapping machine to be arranged downstream of the new downcoiler and a shiftable inspection table for the existing inspection station.

All the new units will be seamlessly integrated into the existing X-Pact automation system. To this purpose, the existing Level-2 functions will be expanded and adapted to the new configuration. Also the HMI and the visualization system will be enhanced and tailored to the new set-up of the mill. The X-Pact automation package supplied by SMS will also include the necessary Level-1 components, sensors and measuring devices. Thanks to the modular and open structure of the system, the components can be conveniently integrated into the existing system environment.

Source - Strategic Research Institute

voda 6 mei 2021 09:21

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Republic Steel May Reopen Lorain Rolling Mill

Chronicle Telegram reported that Canton Ohio based Republic Steel has committed to reopening its rolling mill at East 28th Street in Lorain in Ohio USA sometime this year, idled in 2016. Republic has proposed restarts to its furnaces year after year. Lorain Mayor Mr Jack Bradley said “He would not have announced the most recent promise at Monday’s City Council meeting if he didn’t think it was true. Of course, everything's subject to change, but if the markets remain where they're at right now, it looks very, very promising. The company is willing to restart its furnaces at a cost of about USD 50 million. A recent uptick in domestic markets has brought reopening the mill back to the table.”

The city is helping Republic secure a USD 500,000 grant from Jobs Ohio to help push the restart, Bradley said. That grant would require the company to hire 125 workers and keep operations running for a minimum of two years.

Republic Steel idled its Plant five years ago, but it had shut down certain operations and laid off workers in the years leading up to its almost complete closure. Since then, it has maintained a skeleton crew.

Republic Steel specializes in special bar quality, of SBQ, steel used in axles, drive shafts, suspension rods and other critical components of automobiles, off-highway vehicles and industrial equipment, according to the company.

Source - Strategic Research Institute

voda 6 mei 2021 09:30

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Liberty Galati Proposes 100 MW Solar Park at Slag Dump

Ziarul Financiar reported that Liberty Galati’s slag dump could host a solar park of over 100 MW. Taking into account the surface of the dump, but also the land needed to install 1 MW in a solar project, it would result that a solar project of at least 100 MW could be built on that land. Liberty Galati General Manager Ms Aida Nechifor said “We are preparing to close the slag dump using sustainable technology, as well as the reuse of the site by installing environmentally friendly electricity generation technologies, whether solar or wind energy. If we are to truly make the necessary changes and transformations that will add green energy to our production processes, we will need governmental legislative and investment support, improvements in hydrogen production and storage, but and the right people for this technological innovation to happen.”

According to information from the local press, Viata Libera Free Galati, the slag dump covers an area of about 110 hectares. Over 50 million tonnes of waste is being stored since 1968, since the opening of the plant. Currently, the greening of the huge land is in the attention of the environmental authorities.

Source - Strategic Research Institute

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