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voda 2 november 2021 07:08

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UAE rebar sentiment picks up, demand improvement expected
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In United Arab Emirates, rebar consumption is expected to improve in November, with 12-32mm diameter rebar prices, both retail and wholesale, surfacing for November deliveries.

“October was better than September with 155,000-165,000 tonnes of rebar sales by the mills,” comments a local sector participant.

This week, re-rollers’ rebar transaction prices are at around AED 2,410-2,430/tonne ($656-661) ex-mill, whereas Emirates Steel has set its rebar price at AED 2,490/t ($678) ex-works (see Kallanish passim). Oman-based Jindal Shadeed is quoting rebar at AED 2,410-2,430/t cpt UAE. Prices are depending on volume, payment terms, and client's classification, Kallanish notes.

Payment is 90 days after the invoice date and prices are based on theoretical weight. However, ESI applies an AED 35-75/t discount on the quotation upon pre-agreed quotas in the domestic market.

On the retail side, ESI’s rebar is sold at AED 2,550-2,575/t and other mills’ product at AED 2,470-2,490/t delivered, depending on payment and tonnage.

“The retail part is not lucrative because in October even small traders bought at lower prices and in return they are offering to the end-users with low-profit margin, which spoils our appetite,” comments a sector participant.

“In November, the market size is expected to reach 165,000-170,000 tonnes. ESI is ambitious with a minimum 70% rebar sales target like they achieved in October. They target 105,000-110,000 tonnes of rebar sales. Projects are on track and in six weeks' time, consumption will boost, and in January we are expecting 180,000 tonnes of rebar market in the UAE. Cash flow is weak because clients are not paying although payment is agreed on 120 days after the invoice date,” says another source.

Induction furnace billet prices have inched down to $640-650/t cpt UAE from last week’s $655-660/t. The electric arc furnace billet import market is pegging at around $650/t cfr UAE.

Mills are searching markets for rebar exports to Hong Kong, Singapore and Africa. For billet, the EU and other markets are under scrutiny. After the tariff agreement between US and EU officials was made last weekend, all market participants have a positive sentiment. However, the interpretation and consequences of the agreement for the Middle East region are still unknown.

Burak Odabasi Turkey

voda 2 november 2021 07:46

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China Factory Activity Shrinks for Second Month – NBS PMI

The official NBS Manufacturing PMI for China unexpectedly fell to 49.2 in October 2021 from 49.6 a month earlier and missing market expectations of 49.7. This was the second straight month of contraction in factory activity, with output (48.4 vs 49.5 in September), new orders (48.8 vs 49.3), and export sales (46.6 vs 46.2) all declining, amid the Delta variant of COVID-19 outbreaks, higher material cost, power shortage, and a campaign to reduce carbon emissions. Firms also reduced further their buying activities (48.9 vs 49.7), while employment dropped for the seventh straight month and was at a steeper rate (48.8 vs 49.0). On the price front, input cost rose the most in five months (72.1 vs 63.5), amid a jump in selling prices (61.1 vs 56.4). Looking ahead, sentiment weakened for the eighth month in a row (53.6 vs 56.4).

China’s official non-manufacturing PMI , which measures morale in the services and construction sectors, was down to 52.4 in October from 53.2 in September. The official October composite PMI, which includes both manufacturing and services activity, fell to 50.8 from September's 51.7.

Power Shortages Weigh on Factory Output in October – Caixin PMI

According to latest Caixin’s PMI data, Chinese manufacturers noted an improvement in demand during October, but power shortages and rising costs weighed on production. The Caixin China General Manufacturing PMI came in at 50.6 in October, up from 50 the previous month and returning to expansionary territory. In the past 18 months, the index only dropped below 50 once, in August. The manufacturing sector featured a combination of strong demand and weak supply last month. Output shrank for the third consecutive month, and at a faster clip than the previous month. Power cuts and rationing, raw material shortages and commodity price hikes were the reasons behind the supply contraction. Demand continued to recover with the subindex for total new orders rising further into expansionary territory. Overseas demand remained sluggish as new export orders dropped for the third straight month.To sum up, manufacturing recovered slightly in October from the previous month. But downward pressure on economic growth continued. The pandemic’s impact on manufacturing faded from late September to mid-October as the number of new Covid-19 cases dropped, which boosted demand. However, supply strains became the paramount factor affecting the economy. Shortages of raw materials and soaring commodity prices, combined with electricity supply problems, created strong constraints for manufacturers and disrupted supply chains. Input costs for manufacturers have risen much faster than output prices for several months, putting a lot of pressure on downstream enterprises.

NBS PMI

China Manufacturing Purchasing Managers Index provides an early indication each month of economic activities in the Chinese manufacturing sector.It is compiled by China Federation of Logistics & Purchasing (CFLP) and China Logistics Information Centre (CLIC), based on data collected by the National Bureau of Statistics (NBS).Li & Fung Research Centre is responsible for drafting and disseminating the English PMI report. Every month questionnaires are sent to over 700 manufacturing enterprises all over China. The data presented here is compiled from the enterprises responses about their purchasing activities and supply situations.

Caixin PMI

The Caixln China General Manufacturing PMI is compiled by IHS MarVit from responses to questionnaires sent to purchasing managers in a panel of around 500 private and state-owned manufacturers. The panel is stratified by detailed sector and company workforce sue, based on contributions to GDP. The index is the sum of the percentage of higher responses and half the percentage of unchanged' responses. The headline figure is the Purchasing Managers’ Index. The PMI is a weighted average of the following five indices: New Orders (30%), Output (25%). Employment (20%), Suppliers' Delivery Times (15%) and Stocks of Purchases (10%). For the PMI calculation the Suppliers' Delivery Times Index is Inverted so that it moves in a comparable direction to the other indices.

Source: Steelguru

Bijlage:

voda 3 november 2021 06:31

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JSPL Reports Best Ever Performance in July-September Quarter

JSPL has reported robust growth in sales and production in Q2 of 2021-22. The JSPL’s sales volume surged 32% QoQ and 10% YoY to hit a record of 2.13 million tonnes during the quarter. Q2 of FY22 also marked the first time that the steel giant’s steel sales crossed 2 million tonnes quarterly volumes. The company continued to benefit from buoyant export markets as share of exports in overall volumes increased to more than 40% in 2QFY22 compared to 34% in Q1FY22 (38% in Q2FY21). The JSPL said that exports had become a key channel of sales for the company, particularly in times of subdued domestic demand.

The first half of FY22 also showcased the company’s operational flexibility under challenging market conditions helping the company to post a solid production growth of 12% YoY and sales growth of 7% YoY. Resilient operational performance in 1HFY22 and anticipated pick up in domestic construction activities in 2H gives the confidence to achieve our full-year production target of 8.0-8.5 million tonnes.

Higher volumes coupled with continued upward momentum in steel prices in 2QFY22 resulted in standalone net revenues rising to INR 13,261 Crores. This was however partially offset by lower pellet sales (due to rising internal consumption) and declining pellet realizations. Better steel volumes and realizations resulted in standalone EBITDA at INR 4,519 Crores for the reported quarter.

JSPL Standalone Performance
During 2QFY22, JSPL Standalone reported highest ever steel Sales (incl. pig iron) of 2.13 million tonnes (Up 32% QoQ). Sales volumes during the quarter were ahead of production of 1.93 million tonnes, resulting in inventories declining sequentially. Inventory levels for the Company have normalised in 2QFY22 from higher levels seen in 1Q. Higher internal consumption also resulted in external sales of pellets falling to 0.20 million tonnes (down 49 % QoQ). Higher volumes and improved steel prices led to JSPL reporting record Gross revenues of INR 14,550 Crores. However, sharp rise in iron ore costs due to exhaustion of low cost inventory, higher coking coal costs (including associated freight costs) and lower pellet sales resulted in EBITDA being reported at INR 4,519 Crores. Strong operating profit and declining finance costs have all contributed in JSPL posting profit after tax of INR 2,711 Crores (up 2% QoQ).

Global Ventures
a) Mozambique: Chirodzi mine produced 954 KT ROM (up 9% YoY) in 2QFY22. Mozambique operations reported 2QFY22 EBITDA of US$ 17.2mn (up 417% QoQ) on rising coking coal prices.
b) South Africa: Kiepersol mine in South Africa produced 181 KT ROM (up 22% QoQ). The mine reported an EBITDA of US$ 1.8mn for the quarter on the back of improved coal prices.
c) Australia: Russell Vale mine has started production post receiving the final go ahead from the regulatory authorities. JSPL is expected to get the first shipment in the current month (November 2021). Wongawilli colliery continues to remain under care & maintenance as WCL (Wollongong Coal Limited) continues to work towards securing additional approval for restarting the mine.

Q2 of 2021-22
Steel Production 1.93 million tonne, down by 4% QoQ
Steel Sales 2.13 million tonne, up by 32% QoQ
Gross Revenue INR 14,902 Crore, up by 27% QoQ
EBITDA INR 4,594 Crore, up by 1% QoQ
PAT INR 2,584 Crore, up by 3% QoQ

H1 of 2021-22
Steel Production 3.94 million tonne, up by 13% YoY
Steel Sales 3.74 million tonne, up by 7% YoY
Gross Revenue INR 26,600 Crore, up by 67% YoY
EBITDA INR 9,133 Crore, up by 117% YoY
PAT INR 5,100 Crore, up by 350% YoY

Source: Steelguru

voda 3 november 2021 06:31

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EUROFER Welcomes EU US Deal on Sustainable Steel and Aluminium

The European Steel Association as welcomed the statement of the EU and the US to tackle jointly shared challenges in the steel and aluminium sectors, including negotiating an arrangement on carbon intensity and global overcapacity, and replacing the current 25% tariff measure of the US Section 232 on EU steel imports by a tariff-rate quota regime based on historical volumes. The arrangement between the US and the EU is a first important step in favour of a globally decarbonised industry in light of COP26 negotiations. EUROFER Director General Mr Axel Eggert said “We welcome the announcement of the agreement which could be the starting point of a new, transatlantic partnership tackling global trade distortions and climate change together, addressing the inter-linkage between both. State-supported steel production and capacity built with CO2 intensive technologies contribute significantly to climate change. The global steel industry is responsible for almost 10% of global direct and indirect CO2 emissions, while the less CO2 intensive EU steel industry accounts for only about 0.5%. The arrangement between the US and the EU is therefore the first important commitment towards a global, market-based and decarbonised industry even before COP26 negotiations have really taken-off.”

Mr Eggert added “However, with regard to US import tariffs on steel it is important for EU steel producers exporting to the US that the new provisions, introducing a Tariff Rate Quota system, take into account traditional EU export levels within a stable framework, and that the product exemptions for EU steelmakers already in place are maintained or renewed.”

This step forward on Section 232 is a positive signal after the EU-US frictions over the past years, which have put transatlantic relations under strain and impacted businesses and consumers alike. It prevents a further escalation in the trade dispute between the two blocks by avoiding the doubling of the EU tariffs on US goods otherwise kicking in on 1 December 2021“EUROFER stands ready to contribute to and support constructively the further exchange and work for alignment between the EU and the US, in order to re-build a sustainable global steel market and achieve carbon neutrality in the sector by 2050”, said Mr Eggert.

Source: Steelguru

voda 3 november 2021 06:33

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Hyundai Steel & Vale to Reduce Carbon Emission

South Korean steel maker Hyundai Steel Company has recently signed a memorandum of understanding agreement with Brazilian mining giant Vale to seek ways to cooperate, including greenhouse gas emissions reduction and low carbon raw materials development. This MOU was signed as both companies' interests coincided in greenhouse gas reduction and the need to secure competitive low-carbon raw materials as the business environment changes with growing social demand for carbon emission reduction. The two companies are planning to cooperate in finding ways to reduce greenhouse gases, conducting feasibility study for low-carbon solutions, discussing and consulting on them.

In particular, attention is drawn to the feasibility review of iron ore briquettes, which is expected to be a low-carbon replacement. Iron ore briquettes are low-carbon steel material produced at a low temperature of about 200 degrees and was developed to replace shaft furnace's sintering, lump, and pellet processes.

Hyundai Steel is aiming to reduce carbon emissions by 20% by 2030 and realize carbon neutrality by 2050. Also, demand for low-carbon steel sheets is expected to increase significantly in steel industries such as automobile industry to realize carbon neutrality.

Vale also presented its goal to achieve carbon neutrality in 2050 according to Paris Agreement.

Source: Steelguru

voda 3 november 2021 06:33

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Nippon Steel Hikes Profit Forecast Again on Demand Recovery

Japan's largest steelmaker Nippon Steel has lifted its net profit forecast for the second time this year to a record 520 billion yen (USD 4.5 billion), a significant turnaround from a net loss of 32.4 billion yen it reported in the last fiscal year. The steelmaker now expects revenue to rise 39% to 6.7 trillion yen for the year ending in March. The company had previously forecast a 35% rise in revenue to 6.5 trillion yen and a net profit of 370 billion yen. Nippon Steel Executive Vice President Mr Takahiro Mori said "The steel demand continues recovering as the world recovers from the pandemic. Market conditions have improved thanks to strong demand for steel products in the manufacturing and construction industries, pushing up prices and margins. We are making steady progress towards building a profit structure capable of generating a stable profit regardless of the external environment.”

Due to a steel production cut in China, Nippon Steel expects global supply of the metal to continue to be tight. Mr Mori said that the impact of production cuts will outweigh expected weaker demand in China amid trouble in the local property market.

In the first six months, Nippon Steel reported revenue of 3.16 trillion yen and a net profit of 312 billion yen

Japanese steelmakers and their key customers such as automakers and electronics makers negotiate the prices of steel products under term contracts twice a year. Nippon Steel aims to adopt a new pattern for semi-annual price negotiations of term contracts with local industry customers from next April and is in talks with them

Domestic Steel Demand Outlook
FY2019: Demand had been declining mainly in indirect exports in manufacturing sector
FY2020: In 1H, the decline gathered speed due to COVID-19 impacts in 2H, demand recovered to some extent.
FY2021: Demand is expected to recover to 56.8 million tonnes, and to the same level before pandemic (FY2019 2H) in 2H

Source: Steelguru

voda 3 november 2021 06:33

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NMDC Reports Best Ever Monthly Performance in October

Indian iron ore giant NMDC continues to outperform itself with iron ore production of 3.33 million tonnes and sales of 3.58 million tonnes in the month of October. The mining major registered a growth of 37% in production, the highest ever in any October month since inception and a rise of 42% in iron ore sales over the CPLY on the back of strong domestic demand.

Cumulative production and sale figures for the first seven months of the FY22, up to October 2021, stood at 21.04 million tonnes and 22.08 million tonnes respectively recording the best ever performance for any October month. The company achieved a 43% increase in production, which includes the 0.5 million tonnes produced from Donimalai this October, and 43% in sales over the same period last year.

Source: Steelguru

voda 3 november 2021 06:34

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Taiwanese Steel Maker CSC Plans Surcharge for EU Rules

Taipei Times reported that Taiwanese steel maker China Steel Corp plans to impose a moderate carbon surcharge on steel exports in August 2022 ahead of the implementation of new EU carbon rules. CSC Executive Vice President Mr Hwang Chien-chih said the company is looking to impose a carbon surcharge in August next year, but details of the scheme, including how much the surcharge would be, have not yet been finalized. Mr Huang said “Other major economies such as the US and China are also expected to soon adopt their own carbon pricing schemes. CSC not only has to come up with a carbon pricing scheme, we have to do so in a way that is transparent and recognized worldwide. The first challenge is to actually calculate the carbon footprint of all our products. The company is looking to Germany’s ThyssenKrupp AG as an example in imposing a carbon surcharge.”

A draft version of the EU’s Carbon Border Adjustment Mechanism is to be released in 2023 and implemented in 2026, affecting 248 items including steel

Even though only about 3% of CSC’s products are exported to Europe, the company is taking the issue seriously and aims to minimize the impact on Taiwan’s steel industry, as the rules would have a more profound effect on downstream companies CSC only ships about 330,000 tonnes of steel to Europe each year, but the new regulations could disproportionately affect its downstream customers who have more exposure to the European market, it added.

Source: Steelguru

voda 3 november 2021 06:34

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Tata Steel Launches Truck with Sprinklers at Jamadoba Coal Plant

Avenue Mail reported that Tata Steel’s Jharia Division has introduced the Multipurpose Truck Mounted Hydro Mist Cannon at Jamadoba Coal Preparation Plant to reduce and prevent pollution. Multipurpose Truck Mounted Hydro Mist Cannon is a 3-in-1 set-up equipped with pollution control measures. It has hose pipe arrangement of about 40-50 meters in length, a Mist Cannon with a mist throw range of 35-40 meters (under no wind condition) which can be vertical tilted from (-5) to (+40) degree and can discharge mist droplets of size 10-50 microns which is ideal for dust suppression. The pressurised sprinklers have three nozzles. Front header is fitted with nozzles for road washing. Rear header is fitted with nozzles for dust suppression and the handheld nozzle with hose pipe can be used for washing of high structures inside JCPP.

The main advantage with this type of mist cannon is its mobility and can be deployed at multiple locations as per need. The Multipurpose Truck Mounted Hydro Mist Cannon has a large coverage area and can be used for dust control efficiently by suppressing the airborne dust particles by 95%. The system has an added advantage of minimal water usage as the water consumption is fully controlled automatically. The fine mist generated by the cannon (10-50 microns) lowers the surface tension and makes it easy for the dust particles to agglomerate, particularly when it comes to deal with hydrophobic particles like coal.

Source: Steelguru

voda 3 november 2021 06:35

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Metalloinvest Announces Operational Results for 9M of 2021

Leading Russian iron ore, merchant HBI producer and steel maker Metalloinvest has announced its operational results for the nine months of 2021. Metalloinvest CEO Mr Nazim Efendiev said "In the first nine months of 2021, the Company’s maintained high production volumes, with increased shipments to our key markets Russia and Europe. A significant increase in demand from our European partners, focused in particular on high quality iron ore and steel products, reflects the global trend towards the decarbonisation of the metals & mining industry. In October, we signed an agreement for the construction of the new HBI-4 Plant at LGOK, with a capacity of 2.08 million tonnes, this project will reinforce the Company's leadership in the merchant HBI market and strengthen our position as a leading supplier of this crucial element in the transition to greener steel production."

Iron ore products
In 9M 2021, iron ore production amounted to 30.7 million tonnes, increasing by 1.1% YoY. Production increased by 1.0% to 10.3 million tonnes in Q3 2021 as compared to Q3 2020. Growth was due to an increase in the average productivity of equipment. Pellet production increased by 3.0% and amounted to 21.4 million tonnes. Quarterly production grew by 9.6% and amounted to 7.2 million tonnes. Growth resulted from the optimisation of maintenance works, mainly due to the overhaul of Pellet Plant #3 at MGOK in Q3 2020. The total volume of iron ore product shipments to third parties amounted to 20.4 million tonnes during the 9M 2021, 2.5% lower YoY

HBI/DRI
In 9M 2021, the Company produced 5.7 million tonnes of HBI/DRI, which is 1.3% lower YoY. In Q3 2021, production amounted to 1.8 million tonnes, representing a 9.1% increase over Q3 2020. Growth was due to the optimisation of maintenance works and increase in production of DRI Plant #1 following its modernisation in 2020

Pig iron and steel products
In 9M 2021, Metalloinvest produced 1.8 million tonnes of hot metal, in line with 9M 2020 production volume. Meanwhile, in Q3 2021, production increased by 15.4% to 0.6 million tonnes compared to Q3 2020. The increase was mainly due to the commissioning of Blast Furnace #3 following its modernisation. Crude steel production amounted to 3.6 million tonnes, decreasing by 2.5% YoY. The change is a result of maintenance works at OEMK’s EAF #4 in Q3 2021. Pig iron shipments to third parties increased by 7.6% YoY to 1.0 million tonnes in 9M 2021. Q3 2021 shipments were 26.4% higher compared to Q3 2020, amounting to 0.3 million tonnes.

Source: Steelguru

voda 3 november 2021 06:36

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SMS Group Partners with Synhelion for Solar Technology

As part of its commitment to lower CO2 emissions with the goal of becoming carbon-neutral, SMS Concast, a company of SMS group located in Zurich, Switzerland, has now formed a strategic partnership with the Swiss company Synhelion and invested an important amount in the funding of their state-of-the-art solar technology. The investments made by SMS group and other partners enable Synhelion to build and operate the world’s first industrial production plant for solar fuels. Located in Jülich, Germany, the plant will cover the entire process on an industrial scale, from concentrating sunlight to producing the synthetic liquid fuel. It will empower Synhelion to produce solar fuels at an unprecedented low price that is competitive with fossil fuels, making a significant joint contribution to stopping the climate crisis.

This is especially relevant for sectors, which are notoriously difficult to electrify, such as aviation. Additionally, long-distance transportation such as freight or shipping requires extremely high energy densities that current battery technology cannot reach. Liquid synthetic fuels like the ones to be produced by Synhelion can achieve these densities, making them an ideal energy carrier.

While the focus will be on transportation in the beginning, the process includes solar technologies that can be transferred to other applications. In the metal producing industry, the generated renewable solar process heat, which is able to reach unprecedented temperatures beyond 1,500 degree Celsius can, for example, be used for energy-intensive processes in steel production.

Synhelion uses solar heat to convert CO2 into synthetic fuels, so-called solar fuels. Solar radiation is reflected by the mirror field, concentrated onto the receiver, and converted into high-temperature process heat. The generated heat is fed to the thermochemical reactor that turns CO2 and H2O into syngas, a mixture of H2 and CO. The syngas is then processed by standard gas-to-liquids technology into fuels such as gasoline, diesel, or jet fuel. Excess heat is saved in the thermal energy storage to enable continuous 24/7 operation.

Source: Steelguru

voda 3 november 2021 06:36

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OMK Successfully Delivered Pipe Products to Egypt in 2021

Russian steel pipe maker United Metallurgical Company OMK has supplied pipes to Egypt in 2021 for one of the subsidiaries of the Egyptian General Petroleum Corporation. Pipes with a diameter of 406 mm from steel grade X60M according to the international standard API Spec 5L were manufactured by the Vyksa plant of OMK in the Nizhny Novgorod region. All products are made from our own coils. The pipes were delivered with a preservative coating, ultraviolet varnish, to protect them from corrosion during transportation.

OMK is the largest supplier to Egypt among Russian pipe companies. Since 2018, OMK products that meet international standards have been used in the construction of six pipelines in Egypt.

Source: Steelguru

voda 3 november 2021 06:38

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US permits EU to supply 3.3mt of steel
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European exporters to the US will be given the opportunity to export up to 3.3 million tonnes/year of steel products as part of the US-EU steel and aluminium trade agreement signed last weekend.

The volumes of tariff-free quotas have been calculated on the basis of 2015-2017 exports from the EU to the US. The quotas are divided into 54 product categories and allocated specifically for each European country of origin on a quarterly basis.

"Any unused TRQ volume from the first quarter of the year, up to 4% of the allocated quota for that quarter, will roll over to the third quarter; any unused TRQ volume from the second quarter of the year, subject to the same limit, will roll over into the fourth quarter; and any unused TRQ volume from the third quarter, subject to the same limit, will roll over into the first quarter of the following year," explains an Office of the US Trade Representative document.

According to the agreement, only steel products "melted and poured" in the EU will be eligible for the new tariff-free quotas. Productions made from extra-EU billet and slab, for example, will not be included, Kallanish notes.

In recent years a number of producers applied for exclusions from the US Section 232 measures for specific products to be sold from Europe to the US. These exclusions will remain in place for a further period of two years and these products will not be calculated in the allocated new 3.3mt quotas allocated.

Earlier last week, Eurofer calculated that during the last year some 1mt of steel products were exported from the EU to US under the exclusions. As a result, potentially 4.3m t/y of different steel products could be sold from the EU to the US going forward.

Annual reviews of the quotas will be conducted by the US to calculate levels of local apparent steel use and adjust the quotas up or down by some 3% for every 6% of changes detected. If the changes in demand are below 6%, no adjustments will be applied. From April 2022, under the request of the EU, a further quarterly review can be requested to address any substantial under-use of the quotas.

Emanuele Norsa Italy

voda 3 november 2021 07:08

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Advies van Bank of America Merrill Lynch over Arcelor Mittal
Beurshuis Bank of America Merrill Lynch
Aandeel ArcelorMittal
Datum 02 november 2021
Advies Kopen
Koersdoel 49,00 EUR

Detail advies
(Trivano.com) - Op 2 november 2021 hebben de analisten van Bank of America Merrill Lynch hun beleggingsadvies voor ArcelorMittal (MT; ISIN: LU1598757687) herhaald. Het advies van Bank of America Merrill Lynch voor ArcelorMittal blijft "kopen".

Het koersdoel wordt door de analisten verhoogd van 42,00 EUR naar 49,00 EUR.

Op 11 februari 2021 publiceerde ArcelorMittal zijn jaarresultaten. Op 4 november 2021 publiceert ArcelorMittal cijfers over het derde kwartaal.

voda 4 november 2021 05:07

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ArcelorMittal investeert in schonere pelletproductie in Canada

Door ABM Financial News op woensdag 3 november 2021
Views: 2.353

(ABM FN-Dow Jones) ArcelorMittal gaat 205 miljoen Canadese dollar investeren in het schoner maken van zijn pelletproductie in het Canadese Port Cartier. Dit maakte de staalreus woensdagavond bekend.

Bij deze investering kan ArcelorMittal rekenen op de steun van de provincie Quebec. Die zal een korting op de elektriciteitsrekening van de staalreus geven van 80 miljoen dollar.

De fabriek zal omgebouwd worden tot een zogeheten DRI pelletfabriek, waarbij de pellets worden geproduceerd door het rechtstreeks reduceren van ijzererts met behulp van aardgas.

Bron: ABM Financial News

voda 4 november 2021 05:50

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Indian HRC exports subside on strong domestic realisations
124 Views

Owing to strong domestic realisations, lower bids from importers and downward global sentiment, Indian mills are seen pushing hot rolled coil in the domestic market over exports. Seasonal demand coupled with supply shortages has led offers to surge in the domestic market, Kallanish notes.

Indian-origin 2.5mm+ E250 grade HRC offers in India have surged by INR 1,800-2,000/tonne ($24-27/t) ex-Mumbai. JSW Steel’s 2.5mm+ E250 grade HRC offers were noted at INR 71,300/t ($957.44/t) ex-Mumbai on Wednesday. AMNS India’s 2.5mm+ E250 grade HRC offers was meanwhile heard at INR 70,000/t ($940/t) ex-Mumbai.

“The mills majorly hiked their offers owing to supply shortages and a marginal increase in seasonal demand,” says a senior Mumbai-based trader. “We are not seeing any surprisingly high demand or high stocking of inventories in the domestic market as interpreted by some traders. Mills are expected to bring down offers towards November-end or early December, as the hike is not demand-driven. The current hike by mills is merely a hype they have created to pull up sentiment in the market. However, despite high offers, many of them [mills] are offering a good discount to their customers.”

Indian-origin 2mm+ SAE grade HRC offers to Vietnam are noted at $915-920/t cfr Ho Chi Minh City, which is unworkable. Prices have remained mostly unchanged from last week due to subdued demand in Vietnam. Buyers’ expectations, however, are heard mostly at below $880-885/t cfr Ho Chi Minh City. No deals were heard this week.

Indian mills are offering 2mm+ SAE grade HRC at $865-870/t fob Indian east coast, and freight to Vietnam in the spot market is noted at $40-45/t.

“I’m not seeing much of trade happening because of the Diwali festival,” says a senior trader active in the ASEAN region. “Sentiments are muted, buyers’ expectations are down. We hope to see some recovery post-holidays.”

Offers to United Arab Emirates and neighbouring countries decreased by $5-10/t on-week to $915-920/t cfr Jebel Ali for December shipments, but these are unworkable. No deal has been heard taking place this week. Offers for pipe and tube grade HRC material in UAE were heard at $900-905/t cfr Jebel Ali. Indian mills are offering 2mm+ SAE grade HRC at $865-870/t fob Indian west coast and spot freight to UAE is noted at $50-55/t.

“Buyers in the Middle East have stocked their inventories till January-February 2022,” says a senior Middle East-based trader. “They are in no rush to book any orders now. Mills and traders from India are seen less active in the global market owing to the festival and strong domestic demand. If Indian mills want to be in the race, then definitely they need to consider decreasing their offers in the export market.”

Owing to exhausted quotas, Indian mills are not offering to Europe. However, a few buyers were heard bidding at below $950/t cfr Europe, which Indian mills find too low.

Sayed Aameer India

voda 4 november 2021 06:03

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China Steel Prices Decline by USD 100 Per Tonne in October

According to the latest data published by China Steel Logistic Professional Committee, China’s Steel PMI fell by 6.7 pp to 38.3% in October, lowest level since February 2020 as output reduction mandate squeezed production while electricity shortages pressured both output of steel and downstream demand from the manufacturing sector. New orders fell by 10.8 pp to a record low of 28.2% which means buying activity was worsening much faster than in September. Export business was teralso unable to support Chinese steel suppliers, as FOB offers were unattractive to foreign buyers. Besides, steel output outside China was also recovering. Steel output was also impacted by power limitations. Weaker demand added pressure on mills. The sub-index of production fell by 9.2 pp to 36.8%, a record low level of the past twenty months. Prices of raw materials went up, and the cost of steel mills increased. Prices of steel products have continued to decline, squeezing mill margins in October. Mills sharply slowed procurement of raw materials as production and downstream demand for steel slowed.

These down trends were reflected by declining domestic steel prices in China. Domestic prices of benchmark rebar & HR in Beijing area declined by CNY 720 (USD 115) & CNY 510 (USD 82) per tonne respectively from levels prevailing in early October to CNY 5340 (USD 854) & CNY 5380 (USD 860). If we remove 13% VAT, the realization for rebar & HR is only about USD 750 (INR 55,000) per tonne signaling that Indian domestic steel prices at INR 60000 for rebar & INR 70000 for HR are at huge premium.

CSLPC said “It is expected that in November, as the weather turns cold, the impact of environmental protection production restrictions on steel production will expand, squeezing supply. The supply restrictions are unlikely to boost prices much as credit tightness is affecting the entire steel value chain. Most downstream companies have encountered financial difficulties, which has greatly inhibited the liquidity of the commodity market and impacted steel demand. The current poor performance of the domestic real estate industry has weakened the support for the entire bulk commodity industry. Coupled with the weaker overall industry expectations, steel demand is unlikely to improve significantly in the fourth quarter.”

Source: Steelguru

Bijlage:

voda 4 november 2021 06:25

0

US Sets Tariff Rate Quota for Steel Imports from EU in 2022

US and EU have come to an agreement last week that replaces a 25% tariff on steel imports, only or steel products of fully European origin, are falling within the scope of this TRQ agreement from the EU under Section 232 with a Tariff-Rate Quota system starting from January 1, 2022. Under the TRQ arrangement, historically based volumes of EU steel and aluminum products would enter the US market without the application of Section 232 tariffs to meet the demands of downstream users.

The US introduced an annual quota of 3.3 million tonnes for 54 product categories allocated on an EU member state basis in line with the 2015-2017 historical periods. The US will maintain its exclusions system for the most critical steel products. The TRQ will be calculated each year starting from January 1, 2022 and administrated on a first-come, first-served quarterly basis. Unused volumes, not exceeding 4% of the allocated quota, will be transferred to the following quarters. The above-quota volumes, entering the US market from the EU, will be levied with a Section 232 duty of 25%.

Average annual imports of steel products from the EU into the US in 2015-2017, including semis and stainless steel, was 4.5 million tonnes

In addition, the following general principles will guide future US EU cooperation:

Agreement to cooperate in trade remedies and customs matters and development of additional actions
Both sides agreed to expand their coordination involving both trade remedies and customs matters, and to meet regularly to consult and develop additional actions to address non-market excess capacity in these sectors.

Negotiation of global steel and aluminum arrangements that restore market-oriented conditions and address carbon intensity
The US and EU resolved to negotiate future arrangements for trade in the steel and aluminum sectors that take account of both global non-market excess capacity as well as the carbon intensity of these industries. The US and the EU agreed to form a technical working group to enhance their cooperation and facilitate negotiations on these arrangements, and will invite like-minded economies to participate in the arrangements.

Lifting of the EU’s retaliatory tariffs and suspension of disputes before panels of the World Trade Organization
The EU will suspend the additional duties imposed on US goods, and the US and the EU agreed to suspend the disputes they have initiated against each other regarding the US Section 232 measures and the EU’s additional duties in light of the arrangements for moving forward.

Other measures to ensure market-oriented conditions in the EU market
The EU will ensure market-oriented conditions in its market, including through the application of safeguards and other appropriate measures.

Source: Steelguru

voda 4 november 2021 06:25

0

SAIL Examining PLI Scheme for Choosing Specialty Steel

Indian state owned steel giant Steel Authority of India Limited is expected to make investments under the PLI scheme for specialty steel as SAIL is in process of ''examining categories under the scheme. SAIL Chairperson Ms Soma Mondal told PTI ''SAIL is presently in process of examining various categories under the PLI scheme, for feasibility and which may synergize with SAIL's current capabilities. The process of evaluation is on going based on the detailed guidelines, it would take some time to crystalize the specific investment plans.''

Ms Mondal also informed that post identifying product category under the scheme, if required, SAIL's Research & Development Centre for Iron & Steel and the Centre for Engineering and Technology shall work in tandem with steel plants of the company to develop the products using required technologies.

On July 22, Indian government had approved INR 6,322-crore PLI scheme to boost production of specialty steel in India, attract additional investment of about INR 40,000 crore and generate fresh 5.25 lakh job opportunities. On October 22, the scheme was notified by the government and uploaded on the website of Ministry of Steel. Steel Minister Mr Ram Chandra called a stakeholders' meet where they informed that applications from parties looking to invest under the scheme will be invited from the second week of November.

The five categories of specialty steel which have been included in the PLI scheme are
Coated & plated steel products
High strength & wear resistant steel
Specialty rails
Alloy steel products & Steel wires
Electrical steel

Source: Steelguru

voda 4 november 2021 06:26

0

Wuppermann & Tata Steel Netherland Develop Steel for Chassis

Leading European steel processor Wuppermann and Tata Steel have joined forces to extend their offering of hot-rolled high-strength steels with effective corrosion protection for chassis. The chassis of a car is subject to a lot of wear and tear, day in day out. At the same time further down gauging of chassis parts plays an important role to meet light weighting targets. This combination makes effective corrosion protection a necessity. That’s why Tata Steel introduces a new range to their portfolio of hot-rolled steels for chassis applications. It combines the benefits of HSLA and Advanced High Strength Steels such as its FB, CP and XPF range, with a protective zinc layer against corrosive influences.

To meet the requirements of these new steels Tata Steel in the Netherlands and Wuppermann Staal Nederland BV have agreed to jointly increase capabilities of producing thicker high-strength galvanized steels (thickness 2-4mm) whilst meeting stringent automotive requirements. This has resulted in a multiyear improvement program which we are delighted to have completed.

Recently Wuppermann Staal received IATF 16949:2016 accreditation for their quality management system. Significant improvements have also been made in relation to zinc layer thickness control, oil types, and many other areas critical to the automotive sector, to ensure these products adhere to VDA, as well as other industry standards. Unlocking a wide variety of additional dimensional capabilities, with a focus on hot-rolled steels - HSLA and AHSS. Both Wuppermann Staal and Tata Steel are committed to extend this program further in the future.

Wuppermann Staal Nederland BV is a joint venture of Wuppermann Group, a German hot-dip galvanising specialist.

Source: Steelguru

Vertraagd	19 apr 2024 17:35
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