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voda 6 oktober 2022 14:28

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Beursblik: UBS haalt ArcelorMittal van kooplijst
Koersdoel ook omlaag.

(ABM FN-Dow Jones) UBS heeft donderdag het advies voor ArcelorMittal verlaagd van Kopen naar Neutraal en het koersdoel van 27,00 naar 23,00 euro.

De afgelopen periode heeft Mittal op verschillende plekken de productie tijdelijk stilgelegd, maar analist Andrew Jones twijfelt of dit voldoende is om de prijsdruk weg te nemen. Op korte termijn stegen de prijzen, maar onduidelijk is volgens de analist of dit beklijft.

Voor het derde kwartaal denkt Jones dat de EBITDA van ArcelorMittal ruimschoots onder de consensus is uitgekomen. Hij rekent op een EBITDA van 2,2 miljard dollar, waar de consensus op 3 miljard dollar staat. "We denken dat de volumes op kwartaalbasis met 9 procent zijn gedaald, en dat dit in het vierde kwartaal nog eens 3 procent zal zijn." De EBITDA in het vierde kwartaal schat UBS in op "slechts 1,3 miljard dollar".

Het aandeel ArcelorMittal noteert donderdag 3,1 procent lager op 21,09 euro.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

voda 7 oktober 2022 06:52

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EU Includes Slabs Quotas in 8th Package of Sanctions against Russia

The European Commission has welcomed the Council's adoption of an eighth package of hard-hitting sanctions against Russia for its aggression against Ukraine. This package responds to Russia's continued escalation and illegal war against Ukraine, including by illegally annexing Ukrainian territory based on sham referenda, mobilizing additional troops, and issuing open nuclear threats. It includes, for example, a ban on the import of Russian finished and semi-finished steel products, subject to a transition period for some semi-finished. Temporary exemptions have been granted, with slab imports permitted up to a quota exceeding 3.7 million tonnes per year until 2024.

This package introduces new EU import bans worth EUR 7 billion to curb Russia's revenues, as well as export restrictions, which will further deprive the Kremlin's military and industrial complex of key components and technologies and Russia's economy of European services and expertise. The sanctions also deprive the Russian army and its suppliers from further specific goods and equipment needed to wage its war on Ukrainian territory. The package also lays the basis for the required legal framework to implement the oil price cap envisaged by the G7.

Additional individuals and entities have been sanctioned. This targets those involved in Russia's occupation, illegal annexation, and sham referenda in the occupied territories & oblasts of Donetsk, Luhansk, Kherson, and Zaporizhzhia regions. It also includes individuals and entities working in the defence sector, such as high-ranking and military officials, as well as companies supporting the Russian armed forces. The EU also continues to target actors who spread disinformation about the war. EU restrictive measure target key decision makers, oligarchs, senior military officials and propagandists, responsible for undermining Ukraine's territorial integrity.

Additional export restrictions have been introduced which aim to reduce Russia's access to military, industrial and technological items, as well as its ability to develop its defence and security sector. This includes the banning of the export of coal including coking coal (which is used in Russian industrial plants), specific electronic components (found in Russian weapons), technical items used in the aviation sector, as well as certain chemicals.

voda 7 oktober 2022 06:54

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AM/NS India Gets Environmental Clearance for Hazira Expansion

AM/NS India has received environmental clearance to expand its existing crude steel capacity of 9 million tonne per annum to 15 million tonne per annum for its flagship plant in Hazira near Surat. AM/NS India said “This increased steel manufacturing capacity represents a significant boost for the government’s National Steel Policy, which envisages doubling domestic capacity to 300 MTPA by 2030.”

AM/NS India CEO Mr Dilip Oommen said “Upcoming expansion would give a fillip to AM/NS INDIA’S next phase of growth. It would also help us to meet the growing domestic market demand, while also equipping us to produce high-grade value-added steel.”

The environmental clearance for the company was approved by the Union Ministry of Environment, Forest, and Climate Change. The nod came from the ministry only after a detailed environmental impact assessment. Its report was submitted to the Gujarat Pollution Control Board, which conducted a public consultation in July in Hazira under the chairmanship of the Surat District Collector and Magistrate, whose findings were submitted to the Union Ministry for final approval.

Bijlage:

voda 7 oktober 2022 06:55

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Vale & SHS Sign MoU to Develop Green Solutions in Steelmaking

Brazilian iron ore miner Vale and Germany steelmaker Stahl-Holding-Saar have signed a MoU to pursue solutions focused on carbon-neutral steelmaking process. Vale and SHS intend to jointly study and explore, among other initiatives
1. The usage of Vale’s green iron ore briquettes and direct reduction pellets in steelmaking
2. A briquette plant located close to SHS’ facilities
3. The Tecnored technology of Vale.

This initiative contributes to Vale’s commitment to reduce 15% of net Scope 3 emissions by 2035. Since 2021, Vale engaged with around 30 ironmaking clients representing approximately 50% of company’s Scope 3 emissions. Additionally, Vale seeks to reduce its absolute Scope 1 and 2 emissions by 33% by 2030 and achieve net zero by 2050, in line with the Paris Agreement, leading the way to sustainable mining.

SHS is an operative management holding that actively assumes tasks for the two steel companies in Saarland, Dillinger and Saarstahl. Dillinger produces steel heavy plates for sectors as steel construction, offshore and line pipes. Saarstahl is a manufacturer of high-quality wire rod and bar for the automotive and general engineering industries. The companies are ready to shape the green transition. The production of green steel is scheduled to start in Saarland in 2027. The new production route will include an electric arc furnace at the Völklingen plant and an EAF and direct reduced iron plant for the production of sponge iron at the Dillinger plant, in addition to the established blast furnace route.

voda 7 oktober 2022 06:56

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India Opens Trade Measure Probe on FeMo Imports from Korea

India’s Director General Trade Remadies has initiated Bilateral Safeguard Investigation concerning imports of Ferro Molybdenum from South Korea under India-Korea Comprehensive Economic Partnership Agreement (Bilateral Safeguard Measures) Rules, 2017 after DGTR found that there is prima facie evidence that the imports of the product under consideration have increased in absolute and relative terms, causing serious injury to the domestic producers of the like article in India, and there is causal link between increased imports and serious injury caused to the domestic industry.

Having determined that there is prima facie evidence to justify initiation of the safeguard investigation, the Director General considers it appropriate to initiate the investigation in order to determine whether the imports of the product under consideration from Korea RP constitute increased imports and whether the increased imports have caused or are threatening to cause serious injury to the domestic industry.

The Indian Ferro Alloy Producers’ Association together with Boon Metal & Alloy, Premier Alloys & Chemicals & Team Ferro Alloys has filed an application alleging increased imports of Ferro Molybdenum causing serious injury to the domestic producers of like or directly competitive product in India.

The applicant has claimed that the imports of the product under consideration have increased in absolute terms and in relation to the production and consumption in India. It is noted that there is a sudden, sharp and significant increase in imports of the product between 2018-19 and 2021-22. The applicants have provided information relating to the imports of the product from Korea before tariff concessions. It is seen that there is a significant increase in imports before and after the tariff concessions started. The rate of increase in imports of the subject goods is significant considering the duration, the quantum, the total imports and the consumption in India.

The product under consideration in the present investigation is Ferro Molybdenum also described as FeMO in this notification, falling under the HS code 72027000 of the Customs Tariff Act, 1975. It is a hardening agent found in many alloy steels that are heat treatable. It is used in alloy steel, nickel, cobalt, and titanium alloys which are used for the manufacture of various products of strategic importance such as machine parts & tools, military hardware, magnetic alloys, special steel etc.

voda 7 oktober 2022 06:56

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Metinvest Create Bracelets made from Azovstal Steel

Fundraising platform UNITED24 and Metinvest Group, in A Symbol of Perseverance project, have created limited-edition bracelets using pre-war steel from the steel plant and legendary fortress in Mariupol. All the proceeds from the sale of the bracelets will go to the Army of Drones project for the Armed Forces of Ukraine. The design of the bracelets with an engraved Ukrainian coat of arms was developed by SOVA jewellery house. The price for each bracelet is UAH 1,500. Project partner Nova Poshta will manage the delivery of the bracelets across Ukraine. A presentation of the bracelets was held on 6 October in Kyiv. A 17-metre-long sign reading “I believe in the AFU” was placed in the centre of the capital, the letters for which were also created from the same last batch of steel from Azovstal.

Each bracelet contains five grams of steel from the last batch manufactured at Azovstal before 24 February. After the beginning of the full-scale attack by the Russian Federation, Azovstal was transformed from an industrial complex into a fortress, becoming the last line of defence for the Ukrainian Armed Forces in the city. The courage, bravery and undaunted spirit of the Mariupol defenders has served as an example to millions of Ukrainians: members of the armed forces, volunteers, steelmakers, doctors, entrepreneurs and all those who continue to defend the country from the aggressor in the eighth month of war.

Metinvest said “For every Ukrainian, the word ‘Azovstal’ is now more than just the name of a metallurgical plant. It has become a symbol of the courage and the invincibility of Ukraine’s defenders, who turned out to be stronger than even steel itself. Now anyone can have his or her own small piece of legendary steel from Azovstal, while also strengthening of the Ukrainian army's defensive capabilities. A Symbol of Perseverance is part of Rinat Akhmetov's billion-dollar Steel Front initiative.”

The defence of Azovstal included the mill's plate rolling shop, where the mill 3600 had been operating for many years. Steel, from which the 10,000 iconic bracelets have been made, was produced there.

All proceeds from the sale of Azovstal steel bracelets will go to the Army of Drones project. This is a comprehensive programme bringing together fundraising platform UNITED24, the General Staff of the AFU, the Ministry of Digital Transformation, and the State Special Communications Agency, and which undertakes the systematic procurement of drones, their repair and prompt replacement, as well as providing training courses for pilots.

voda 7 oktober 2022 06:57

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ArcelorMittal Long Products Canada Appoints Mr Brochu as CEO

ArcelorMittal Long Products Canada announced that Mr Stéphane Brochu is nominated Vice President of ArcelorMittal and is appointed Chief Executive Officer of ArcelorMittal Long Products Canada effective 1 November 2022. He succeeds Mr François Perras, Vice President of ArcelorMittal, President and CEO of ArcelorMittal Long Products Canada, who has announced its departure to pursue a new career opportunity.

After several years working for Atlas Stainless Steel, Mr Brochu joined the group in 1998, as senior coordinator, and a few years later he became plant manager of the wire rod mill at the Contrecoeur-East complex. In 2003, Mr Brochu became plant manager of the cold rolling mills and in 2005 plant manager of flat products, still at Contrecoeur-East. In 2008 he became plant manager at the bar mill of Contrecoeur-West, prior to his appointment as general manager of Contrecoeur-East, in January 2017. Mr Brochu has been in his current role, as Vice-President of Operations of ArcelorMittal Long Products Canada, since November 2017.

Mr Brochu holds a bachelor's degree in metallurgy from the Ecole Polytechnique of Montréal, Canada.

ArcelorMittal Long Products Canada's has more than 1,900 employees in Contrecœur, Longueuil, Montreal and Hamilton. Operations consist of recycling and scrap processing sites, a direct reduced iron plant, two steel mills, three rolling mills and two wire facilities. The company is the largest local recycler in Quebec, through its Joint Venture - Integrated Metal Recycling (IMR). The group has an annual production capacity of more than 2 million tonnes of steel.

Bijlage:

voda 7 oktober 2022 06:58

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Krakatau Steel to Expand Steel Production

Indonesian steel maker PT Krakatau Steel announced that it will be in collaboration with Baowu Group Zhongnan for an equipment upgrade from the end of December to reactivate the blast furnace facility for billet production, which had not been used for several years. The reactivation will be divided into three phases.

In the first phase, a new wire rod mill will be updated, with an annual production capacity of up to 600,000 tonnes.

The second phase will be is carried out in parallel with the first phase, which will construct a new basic oxygen furnace and a billet casting facility with a capacity of 1.5 million tonnes per year.

In the third phase, the blast furnace complex will be resumed for steel production, with an annual output of 2.2 million tonnes of billets.

voda 7 oktober 2022 06:59

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US Steel Imports Permits in September Reduce MoM

The American Iron and Steel Institute has reported that steel import permit applications for the month of September totaled 2.257 million net tons. This was a 9.2% decrease from the 2.485 permit million net tons recorded in August and a 10.1% decrease from the August final imports total of 2,510,000. Import permit tonnage for finished steel in September was 1.864 million net tons, down 10.5% from the final imports total of 2.083 million net tons in August. The estimated finished steel import market share in September was 22%

Steel imports with large increases in September permits vs. August final imports include steel piling (up 206%), line pipe (up 55%), standard pipe (up 37%), structural pipe and tubing (up 30%) and oil country goods (up 22%). In September, the largest steel import permit applications were for Canada (526,000 net tons, down 11% from August final), South Korea (290,000 net tons, up 64%), Mexico (289,000 net tons, down 40%), Brazil (211,000 net tons, up 20%) and Taiwan (90,000 net tons, up 9%).

For the first nine months of 2022 (including September SIMA permits and August final imports), total and finished steel imports were 24.234 million net tons and 19.673 million net tons, up 4.5% and 22.5%, respectively, from the same period in 2021. The estimated finished steel import market share is 24% year-to-date

Products with significant year-to date increases vs. the same period in 2021 include wire rods (up 59%), oil country goods (up 52%), standard pipe (up 51%), line pipe (up 44%) and cold rolled sheets (up 37%). Through the first nine months of 2022, the largest suppliers were Canada (5.236 million net tons, down 1%), Mexico (4.188 million net tons, up 27%) and South Korea (2.228 million net tons, up 7%).

voda 7 oktober 2022 06:59

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Mr Sean Daoud Joins ISRI Board of Directors as Director-At-Large

International technology group ANDRITZ has received an order from Tatmetal in Turkey to supply a galvanizing furnace for a new coating line that will produce hot-rolled and cold-rolled material. The line will provide hot dip galvanized, coated flat steel suitable for the automotive, durable goods, construction, energy, and mechanical engineering industries. Start-up of the line is scheduled for the first quarter of 2024.

The ANDRITZ scope of supply includes a direct-fired furnace as well as radiant tube annealing and soaking sections, with compact and powerful cooling, as well as the after pot cooling and post-treatment sections.

Tatmetal produces hot-rolled, pickled, cold-rolled, galvanized and painted flat steel under the Tatçelik brand. Automotive, durable goods, construction, energy, and mechanical engineering are the leading industries it serves.

voda 7 oktober 2022 06:59

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USW Workers Stay Away from US Steel's Keetac Celebrations

The Institute of Scrap Recycling Industries has announced the election of Mr Sean Daoud, a second-generation recycler from the association’s Pacific-Northwest Chapter, to its open Director-At- Large position. Mr Daoud serves as the Vice President, Treasurer, and Shareholder of PNW Metal Recycling, which has five locations in Oregon and three locations in Washington State. The company handles both ferrous and nonferrous metals.

Mr Daoud has been active in ISRI, holding several leadership positions. He is a former Pacific-Northwest Chapter President, as well as one of three founding Co-Chairs of ISRI’s Young Executives Council in 2018. He has held ISRI committee leadership roles, including ISRI’s Communications Committee.

voda 7 oktober 2022 06:59

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Arabian Pipes Bags Steel Pipe Supply Deal from McDermott Arabia

Riyadh based Arabian Pipes Company has inked a contract worth nearly SAR 450 million with McDermott Arabia Company Limited on 3 October 2022. Under the 12-month agreement, the Saudi listed firm will supply McDermott Arabia with steel pipes

Arabian Pipes was last month awarded a SAR 155 million contract from Saudi Arabian Oil Company Aramco to provide the latter with steel pipes.

Arabian Pipes is manufacturing welded steel pipes for Oil and Gas, Structural and commercial utilization with sizes range from 6 to 48 inch. The company owns and operates two factories, the first plant in Riyadh with average capacity of 160,000 tonne per year of ERW pipes with sizes range from 6 to 20 inch and the second plant in Jubail industrial city with average capacity of 300,000 tonne per year of LSAW pipes with sizes range from 16 to 48 inch to reach a total average capacity to 460,000 tonnes per year. Also the company has threading line for casing pipes, a coating facility and slitting line for steel coils.

voda 7 oktober 2022 08:07

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Beursblik: Deutsche Bank verlaagt koersdoel ArcelorMittal
Van 37,00 naar 33,00 euro.

(ABM FN-Dow Jones) Deutsche Bank heeft vrijdag het koersdoel voor ArcelorMittal verlaagd van 37,00 naar 33,00 euro bij handhaving van het koopadvies.

Analist Bastian Synagowitz wees op de nodige macro-economische uitdagingen, maar zei ook dat de balans van het staalbedrijf weinig risico's kent. Het koopadvies werd gehandhaafd vanwege de aantrekkelijke waardering en de ruimte die de staalreus heeft om aandeelhouders flink te belonen.

Voor de derdekwartaalcijfers verwacht Synagowitz een significante terugval, vooral door de lagere staalprijzen, de hogere energiekosten en een teruggevallen vraag. Deutsche Bank verlaagde zijn ramingen voor de EBITDA tussen 2022 en 2024 met 4 tot zelfs 33 procent, waardoor het koersdoel omlaag ging. Met de nieuwe taxaties zit de Duitse bank 3 tot 26 procent onder de consensusverwachtingen.

"Hoewel we meer neerwaartse aanpassingen aan de consensus verwachten, naast de nodige volatiliteit op korte termijn, is het aandeel al flink teruggelopen", aldus de analist. De staalreus investeerde flink in cyclisch werkkapitaal, hetgeen in de komende kwartaal omgezet kan worden naar cash. "Dit ondersteunt de solide vrije kasstroom en kan voor ArcelorMittal een mooi moment zijn om in te springen op de lage koers door aandelen in te kopen", blikte de analist vooruit.

Deutsche Bank voorziet een rendement op de vrije kasstroom van 16 tot 33 procent voor de periode 2022 tot 2024. "Gezien de aantrekkelijke waardering, accepteren we de volatiliteit en handhaven we het koopadvies."

Het aandeel ArcelorMittal sloot donderdag op 20,86 euro.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

voda 7 oktober 2022 09:04

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EU sanctions Russian semis but grants temporary quotas
502 Views

The European Commission’s eighth round of sanctions on Russia has widened the EU ban on Russian steel, encompassing, as expected, Russian semi-finished products. However, temporary exemptions have been granted, with slab imports permitted up to a quota exceeding 3.7 million tonnes/year until 2024.

The eight sanctions package was approved on Wednesday (see Kallanish passim), but details were released on Thursday.

The new sanctions also specify that steel products processed in third countries using steel originating from Russia will not be accepted in Europe as of 30 September 2023. This therefore tightens restrictions on those third-country steel processors making use of competitive Russian feedstock and wishing to supply the EU.

As expected, some temporary exemptions for specific grades of semis were granted. The official Commission announcement explains that a quota of 3.748mt will be granted for slab – CN code 72071210 – for the period October 2022-September 2023 and then again for October 2023-September 2024.

Russian billet has also been given a quota, albeit much smaller than slab. Between October 2022 and September 2023, Russian-origin billet imports of up to 487,202t will be permitted, reducing to 85,260t in October-December 2023 and 48,720t in January-March 2024.

A senior source at a European steelmaker notes that granting exemptions for specific products creates too much confusion.

The new round of sanctions also includes a complete ban on the import of coking coal from Russia into the EU. Finally, it specifies that material originating from the regions of Donetsk, Luhansk, Zaporizhzhia and Kherson will also be targeted by bans.

Emanuele Norsa Italy

voda 7 oktober 2022 15:07

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Advies van Barclays over Arcelor Mittal
Beurshuis Barclays
Aandeel ArcelorMittal
Datum 07 oktober 2022
Advies Overweight
Koersdoel 32,00 EUR

Detail advies
(Trivano.com) - Op 7 oktober 2022 hebben de analisten van Barclays hun beleggingsadvies voor ArcelorMittal (MT; ISIN: LU1598757687) herhaald. Het advies van Barclays voor ArcelorMittal blijft "overweight".

Het koersdoel wordt door Barclays verlaagd van 34,00 EUR naar 32,00 EUR.

Op 5 mei 2022 publiceerde ArcelorMittal kwartaalcijfers.

voda 7 oktober 2022 15:07

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Advies van ABN AMRO - ODDO BHF over Arcelor Mittal
Beurshuis ABN AMRO - ODDO BHF
Aandeel ArcelorMittal
Datum 07 oktober 2022
Advies Market outperform
Koersdoel 37,00 EUR

Detail advies
PARIJS (Trivano.com) - Op 7 oktober 2022 hebben de analisten van ABN AMRO - ODDO BHF hun beleggingsadvies voor ArcelorMittal (MT; ISIN: LU1598757687) herhaald. Het advies van ABN AMRO - ODDO BHF voor ArcelorMittal blijft "market outperform".

Het koersdoel wordt door ABN AMRO - ODDO BHF verlaagd van 39,00 EUR naar 37,00 EUR.

Op 5 mei 2022 publiceerde ArcelorMittal kwartaalcijfers.

voda 7 oktober 2022 16:55

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Aperam rondt aandeleninkoop af
3,5 miljoen stukken ingekocht.

(ABM FN-Dow Jones) Aperam heeft het aandeleninkoopprogramma afgerond. Dit maakte het bedrijf vrijdag bekend.

Tussen 2 augustus en 30 september kocht Aperam 3,5 miljoen eigen aandelen in. Daarmee was 94 miljoen euro gemoeid.

Van die 3,5 miljoen aandelen kocht Aperam er 1,43 miljoen van de familie Mittal, ofwel voor 38,6 miljoen euro.

Aperam mocht van zijn aandeelhouders maximaal 3,5 miljoen aandelen voor 100 miljoen euro inkopen.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

voda 10 oktober 2022 10:02

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Indian Finished Steel Exports Shrink by 54% YoY in H1 of 2022-23

According to preliminary data released by the Joint Plant Committee, India’s crude steel output during the first half of 2022-23 was 61.453 million tonnes, up 7% YoY seven percent year on year while consumption of steel was 55.205 million tonne, up 11% YoY

India's finished steel exports during the first six months of the current fiscal year 2022-23 have been recorded at 3.60 million tonnes, down 54% YoY.

voda 10 oktober 2022 10:02

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JSW Steel Coated Products Accepts LoI to Acquire NSAIL

JSW Steel’s wholly owned subsidiary JSW Steel Coated Products Limited, which had submitted a resolution plan in the corporate insolvency resolution process of National Steel & Agro Industries Limited, has received a letter of intent from the resolution professional on 7 October 2022 informing that the committee of creditors of the Corporate Debtor has approved the resolution plan submitted by JSCPL and has declared JSCPL as the successful resolution applicant.

JSCPL has accepted the letter of intent on 7 October 2022.

The closure of the transaction shall be subject to obtaining necessary approval from the National Company Law Tribunal Mumbai.

Setup in 1985, National Steel & Agro Industries is known for it’s flat steel products Cold Rolled Coil, Galvanized Corrugated Sheets, Colour Coil, & Colour Profile sheets , etc) under the different brands. NSAIL’s factory is located at Sejwaya Ghatabillod in Dhar district of MP. The plant is backed by own power unit, equipped with world class technology of CMI Belgium & machinery from BRONX Australia.

voda 10 oktober 2022 10:02

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Tata Steel India Records 4% Growth in Steel Production in H1

Tata Steel has reported 7.51 million tonnes of steel production & 7.09 million tonnes of steel sales in July-September quarter of 2022-23. Its production & sales during H1 of 2022-23 totaled 15.19 & 13.6 million tonnes respectively

---------------------
Production – July-September’22
Tata Steel India - 4.81 million tonne, down 2% YoY
Tata Steel Europe - 2.40 million tonne, down 6% YoY
Tata Steel Thailand - 0.30 million tonne, up 11% YoY
Total - 7.51 million tonne, down 1% YoY

---------------------
Sales – July-September’22
Tata Steel India - 4.91 million tonne, up 7% YoY
Tata Steel Europe - 1.88 million tonne, down 12% YoY
Tata Steel Thailand - 0.30 million tonne, down 9% YoY
Total - 7.09 million tonne, up 1% YoY

----------------------
Production – H1 2022-23
Tata Steel India - 9.74 million tonne, up 4% YoY
Tata Steel Europe - 4.84 million tonne, down 7% YoY
Tata Steel Thailand - 0.61 million tonne, down 3% YoY
Total - 15.19 million tonne, flat YoY

---------------------
Sales – H1 2022-23
Tata Steel India - 8.97 million tonne, up 3% YoY
Tata Steel Europe - 4.02 million tonne, down 10% YoY
Tata Steel Thailand - 0.61 million tonne, down 9% YoY
Total - 13.6 million tonne, down 2% YoY

Tata Steel India’s deliveries stood at 4.91 million tons, a growth of 7% YoY and 21% QoQ despite seasonal weakness due to monsoons.
Automotive & Special Products segment deliveries grew 3% YoY and broadly similar on QoQ basis.
Branded Products & Retail segment deliveries were up 19% YoY and 33% QoQ.
Tata Tiscon and Tata Astrum registered best ever quarterly sales enabled by expanded reach.
Industrial Products & Projects segment deliveries increased by 15% YoY and 19% QoQ.
Revenues from Tata Steel Aashiyana, an e-commerce platform for Individual Home builders, grew by 60% YoY and 18% QoQ to INR 540 crore.

Figures for Tata Steel India include Tata Steel Standalone and Tata Steel Long Products without eliminating inter-company transactions.

Vertraagd	19 apr 2024 17:35
Koers	23,830
Verschil	+0,030 (+0,13%)
Hoog	23,880
Laag	23,440
Volume	2.845.773
Volume gemiddeld	2.432.086
Volume gisteren	2.676.573

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