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voda 10 oktober 2022 10:04

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AM/NS Shipping & Logistics Acquires Two Kamsarmax Bulk Carriers

India Shipping News reported that AM/NS Shipping & Logistics has acquired two Kamsarmax bulk carriers of 81,000 DWT each. The names of the two vessels AMN SI Maximus and AMN SI Stallion signify AM/NS India’s steel brand names for premium quality rolled steel plates and hot-rolled steel. The two vessels were registered at the Mercantile Marine Department in Mumbai recently

AM/NS India plans to expand its vessel fleet for better operational control of cargo movement.

AM/NS Shipping & Logistics is a wholly-owned subsidiary of AM/NS India and owns floating assets and caters to steel plant requirements as well as market cargoes. The dedicated entity for meeting the shipping requirements of the steel plant helps in giving the company a cost advantage in the transportation of raw materials, especially when freight rates are high.

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voda 10 oktober 2022 10:04

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Empresa Siderúrgica del Mutún in Bolivia Aims to Start in 2024

Prensa Latina reported that Empresa Siderúrgica del Mutún being built in the Santa Cruz municipality of Puerto Suárez in Bolivia is 60 % complete and should produce steel in 2024. ESM Executive President Mr Jorge Alvarado said “This plant is using technology from about five countries and that is very important, because that way we have an exchange of technology that is going to stay in our country.”

He mentioned in statements to the Bolivian Information Agency those nations that provide advanced know-how are Germany, Spain, France, Italy and China.

Mr Alvarado reported that the steel giant will be made up of seven plants for processes called Concentration, Pelletization, Direct Reduction, Steelmaking, Lamination, Power Plant and Auxiliaries.

He anticipated that electricity will contribute 108 megawatts, for which 10 generation engines of German origin are installed, in addition to others manufactured in Spain. Other equipment is built in Italy, France and China. In reference to the work schedule, he announced that between February and March 2023, equipment and machinery from different sources should arrive for the Lamination and Steelmaking areas, among others.

voda 10 oktober 2022 10:05

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Vedanta's Finished Steel Production Up by 11% YoY in Q2

Vedanta announced that its total saleable production increased by 11% YoY to 325,000 tonnes in July-September 2022 on account of completion of debottlenecking activities. Saleable production increased by 21% QoQ due to shut down of Blast Furnace 3 for debottlenecking activities in Q1 of FY23. Total saleable production in H1 of 2022-23 increased by 2% YoY to 594,000 tonnes
Finished Production – 325,000 tonnes up 11% YoY
Pig Iron - 47,000 tonnes up 24% YoY
Billets Produced - 235,000 tonnes up 7% YoY
Billets Consumed - 227,000 tonnes up 42% YoY
TMT Bar - 118,000 tonnes up 80% YoY
Wire Rod - 103,000 tonnes up 14% YoY
Ductile Iron Pipes - 48,000 tonnes up 21% YoY

Karnataka pig Iron production in Q2 was lower by 42% YoY and 36% QoQ at 121,000 tonnes due to shut down in the smaller blast furnaces. Pig Iron production was lower by 24% in H1 at 309,000 tonnes due to shutdown of blast furnaces

Chrome ore production was higher by 43% YoY in Q2 of 2022-23through operational efficiencies, however, down 76% QoQ due to monsoon while ferrochrome production was lower on account of planned maintenance shutdown of Furnace in Q2 of FY23. Ore production higher by 18% YoY in H1 driven by operational efficiencies while ferrochrome production was lower by 22% YoY in line with planned maintenance shutdown of Furnace in 2QFY23.

Goa Iron Ore - There was no production in Q2 of 2022-23 as mining remained suspended pursuant to the Hon'ble Supreme Court judgment dated 7th February 2018.
Karnataka Iron Ore - saleable ore production was lower by 17% YoY and 14% QoQ due to heavy rainfall which impacted Ore Handling.

voda 10 oktober 2022 10:05

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POSCO to Recycle By Product Gas as Low Carbon Plastics

Korea Bizwire reported that South Korean steel giant POSCO has participated in an academic-industry research cooperation drive to develop new technology for recycling by-product gases generated during the steel-making process as plastic materials on the basis of existing carbon dioxide capture and utilization technologies. POSCO last week inaugurated the Center for Low-Carbon Chemical Process in collaboration with a group of industry, academic and research organizations including LG Chem & Lotte Chemical

Center for Low-Carbon Chemical Process plans to invest a total of KWR 25.2 billion (USD 17.8 million) by the year 2025 to carry out research on the manufacturing technology of low carbon olefin, a synthetic fiber, that can reduce the emissions of CO2 by about 15% compared to existing technology.

POSCO plans to synthesize methanol using the CO2 extracted from by-product gases generated from furnaces. By cracking it simultaneously with naphtha, an integrated process for olefin production will be developed. With the reduction in the use of naphtha compared to existing technologies, POSCO expects to be able to reduce emissions of CO2 throughout the entire steel-making process. The empirical research will be implemented at POSCO’s Gwangyang steel plant starting next year.

voda 10 oktober 2022 10:05

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Coimbatore Industries Want Export Duty on Steel to Continue

KNN reported that Federation of Coimbatore Industrial Associations has demanded that the export duty on steel products should not be withdrawn until the global recession is over. FOCIA in a letter to the Finance Minister thanked her for taking bold measures like levying export duty on finished steel products and iron ore in May last. It said “Even though the 30% reduction of steel prices in India reflected the global trend of falling steel prices, the steps taken by the Finance Minister exhibited the Centre’s willingness to safeguard the interests of MSMEs in the country.”

FOCIA further said that “Though the raw material prices have come down to an extent, the orders have diminished at present and the MSMEs were affected by the recessionary trend. The MSMEs are yet to recover from the damages inflicted by COVID-19 and losses incurred by earlier raw material price escalations.”

voda 10 oktober 2022 10:05

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EEPC Seeks Export Duty Removal on Stainless Steel Bars

UNI reported that Engineering Export Promotion Council India has proposed to the government to roll back the 15% export duty on certain stainless steel, claiming that as it has dampened Indian interest and endangered the survival of Indian stainless-steel producers. In a meeting with Commerce Minister Mr Piyush Goyal, EEPC India Chairman Mr Mahesh Desai noted that SS Bars have very low domestic consumption and have not contributed to the domestic inflationary situation.

Mr Desai said withdrawal of export duty will be especially helpful for the MSMEs who have a significant contribution in India’s engineering exports.

The EEPC Chairman requested the minister to relook at the rates under RoDTEP and give a full rebate on the taxes that still remain in the export production chain. It was also recommended to include the steel sector under RoDTEP as steel is the most widely used raw material in the engineering industry

voda 10 oktober 2022 10:06

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Turkish Steel Production & Exports Shrink in August

Hurriyet Daily News reported that Turkish Steel Producers’ Association has said that in the month of August, the Turkish steel production amounted to 2.8 million tons, down 21% from August 2021, while domestic steel consumption fell by 12% to 2.3 million tonnes. From January to August, the steel industry’s production was down by 9% YoY to 24.4 million tonnes. TCUD said “The decline in steel production, which began at the start of the year, accelerated in the first half.”

Turkish steel exports declined by 25% YoY in August to 1.4 million tonnes while export revenues fell by 31.5%. Turkish producers delivered 11.1 million tonnes of steel to foreign markets in January-August 2022, down 12% YoY

Turkey also reduced its import of steel by 7% YoY to 1.1 million tonnes in August. The country reduced its imports of steel by 5.6% YoY to 10.2 million tonnes in January-August 2022

Domestic steel consumption stood at 21.9 million tonnes in January-August, decreasing by 5.4% YoY.

voda 10 oktober 2022 10:06

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JM Steel Acquires Sun States & 5 Star Roll Form

US’s steel processor JM Steel Corp has announced the purchase of Five Star Roll Form to expand its value-added roll form expertise. JM looks forward to building upon the solutions that Five Star has been giving its loyal customer base in the Trailer, Garage Door, Roofing, and Solar industries. Sun States Steel Corp. will be rolled directly into JM Steel's service center division as of 7 October 2022. All senior employees and management teams of Five Star Roll Form will remain.

5 Star Roll Form, a Woman Owned Business, opened in 2017 with a single roll former. Customer demand quickly outpaced production capabilities, which necessitated the acquisition of 7 additional lines and the doubling of plant size. 5 Star Roll Form offers custom, cut to length parts like Galvanized Perforated Angles, Steel Angles & Trailer Component Parts with extremely short lead-times. 5 Star Roll Form is strategically located 40 miles east of Metropolitan Atlanta, near multiple Interstates.

JM Steel began production in 2000 and is located on Nucor Steel's Industrial campus in Huger in South Carolina. Its 120,000 square feet steel processing and warehousing facility have the processing capability and extensive inventory to provide a variety of flat-rolled steel products including master coils, slit coils, hot-rolled, cold- rolled, galvanized, blanks, and flat bars. Other capabilities available for clients include plasma cutting, roll forming, stamping, and press braking.

JM Steel's newest facility is located in Sinton in Texas in the SDI's Sinton Campus. This modern 90,000 square feet steel processing and warehousing facility is home to one slitting line, one roll forming line and capabilities to produce liner plates used in tunneling and shaft construction.

voda 10 oktober 2022 10:06

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Crescent Steel Bags Pipe Coating Work from CHEC for K-IV Project

Crescent Steel & Allied Products has received a Letter of Intent from China Harbour Engineering Company for pipe coating for the Greater Karachi Bulk Water Supply Scheme K-IV. The value of the contract is expected to be around PKR 3.2 billion. Bare pipes will be provided by the China Harbour Engineering Company having diameters of 68 and 84 inches. The manufacturing is expected to commence in the second half of the current financial year and will be completed by the end of the financial year 2024.

The Water and Power Development Authority awarded three contracts of PKR 98.5 billion for the construction of Phase-I of K-IV to supply 260 million gallons per day of water to Karachi.

Two contracts worth PKR 81.116 billion were awarded to a consortium comprising of China Harbour Engineering Company and AL-Fajr International while the third contract of PKR 17.4 billion was awarded to Descon Engineering.

The second package worth PKT 28.846 billion was awarded to the same consortium. The length of the pipeline of this package is about 80 kilometers and involves pipelines of 84 and 64inch diameters. The package has to be completed in 16 months.

The third package of Engineering Procurement & Construction Turnkey Contract of Pumping Station 2 x 130 MGD (Civil, Electrical & Mechanical Works) was signed with Descon Engineering at a cost of PKR 17.4 billion. This involves two pumping stations of 130MGD each and 12 pumps of 32.5MGD each, including four for standby arrangements.

voda 10 oktober 2022 10:07

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Vietnamese HRC market moves sideways
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The Vietnamese hot rolled coil import market moved sideways last week, Kallanish notes. The market was mostly quiet except for re-rollers returning to restock Japanese HRC.

Traders report that Japanese 1006 2mm and up thickness SAE 1006 HRC for December shipment was ordered early last week at $587/tonne cfr Vietnam. A Vietnamese trader regards the booking price as low for material from a Tier 1 Japanese mill.

Certain offers for Chinese SAE 1006 HRC were already at this level before China closed for its holiday. Another says many re-rollers booked at this level but he is unsure of the tonnage concluded. Chinese 2mm and up thickness SAE 1006 HRC was also heard offered at $575/t cfr Vietnam just before last week’s holiday.

Indian HRC offers are currently unavailable. "Their [Indian mills’] local prices are increasing," the first trader reports. Kallanish assessed SAE grade 2-2.7mm thickness HRC at $575-585/t cfr Vietnam, unchanged on-week. Chinese SS400 3-12mm thickness HRC was booked at $565-570/t cfr during the week ending 30 September, before the Chinese holiday.

ASEAN HRC mills continue to seek better-paying export markets outside of Asia. PT Krakatau Posco (KP) is offering hot rolled SPHC/SAE1006 base grade coil at $570/t fob and hot rolled SS400/ASTM A36 base plate at $720/t fob, say Jakarta-based market sources.

Posco Indonesia, which overseas Posco interests in Indonesia, including Krakatau Posco, is targeting to export S275 base HRC at $660/t cfr Europe, European traders say. Material from state-owned PT Krakatau Steel (PTKS) is offered at similar prices.

KP is offering HRC ahead of its gaining control of PTKS's 1.5 million tonnes/year No. 2 hot strip mill. “KP or Posco will be in charge for the HRC export market and PTKS will handle the domestic market,” a Jakarta-based trader says.

An agreement was announced in February whereby PTKS will increase its non-controlling share in the joint-venture with Posco from 30% to 50% through an injection of land and equipment (Kallanish passim). “The agreement is pending and likely to be settled this month,” says a PTKS source on the proposed handover.

Anna Low Singapore

voda 11 oktober 2022 07:36

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Germany Unveils Recommendations for Gas Prices Caps

Expert Commission for Natural Gas and Heat set up by the Federal Government presented initial recommendations for containing the energy crisis on 10 October. The model developed by the Commission in a rush and under political pressure consists of a one-off payment combined with a gas price brake for households and industrial consumers, which is to take effect from 1 April 2023 at the latest. According to calculations by the comparison portal Verivox, the price brake would reduce gas costs for households by around 41 per cent. A family with a consumption of 20,000 kWh would be relieved by 1,232 euros per year, calculates the comparison portal Check 24. A single person with an annual consumption of 5,000 kWh would save 308 euros. The price brake proposed by the expert commission on Gas has met with fundamental approval in the energy industry.

German steel association W Stahl President Mr Hans Jürgen Kerkhoff said “The expert commission’s proposal to limit gas prices for industry for basic consumption from 2023 is an important building block for companies to bridge the severe energy crisis in this phase. It is important to prevent permanent damage to the industrial base. At the same time, a gas shortage must be avoided. The task now is to quickly implement the measures politically. Further steps must follow: For the companies, it is also crucial that there is an effective brake on electricity prices, which must now be implemented quickly. In addition to overcoming the acute crisis, it remains an urgent task to create medium- and long-term solutions for competitive gas and electricity prices for Germany as an industrial and steel location.”

German non-ferrous metal association Wirtschaftsvereinigung Metalle WVM said “It is a hard sell that the price cap will only apply to 70% of gas consumption. The remaining 30% will result in production losses, which have ever already begun in our industry.”

Germany’s largest energy industry association BDEW officials said “The Gas Commission has presented a convincing result.It was good that the Commission had dispensed with complicated models. However, it is also clear that the issue of energy saving will continue to be very important. It was clear from the beginning that the pre-war gas price level would remain a thing of the past, preparing the industry for a continuing high price level.

The Association of Municipal Companies VKU calls the proposal fair with a sense of proportion. It said “Households, trade and industry would all benefit. It would be considerable effort for the energy suppliers, who would have to adjust their billing procedures and the associated IT to this. But the municipal utilities have the confidence to do this. However, it must be ensured that the state benefit reaches the utilities in time. The municipal utilities cannot, for example, pre-finance the one-off payment of the December surcharge.”

The Association of the Industrial Energy and Power Industry VIK spoke of a right step to relieve gas consumers. But added that it had to be examined to what extent individual companies that are particularly hard hit by the price increases still need support in the current year.

The German Business Initiative for Energy Efficiency Deneff demands that in addition to the necessary relief, the special fund of 200 billion euros should primarily be used to invest in energy efficiency measures. It said “If we do not succeed in initiating the consumption turnaround through structural investments in more energy-efficient buildings, plants and infrastructure, the shortage situation threatens to worsen and the next so-called relief package will have to be passed next year.”

voda 11 oktober 2022 07:37

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Tata Steel Signs Vanadium MoU with Technology Metals Australia

Advanced vanadium developer Technology Metals Australia has entered into a non-binding Memorandum of Understanding with Indian steelmaking company Tata Steel. The MoU establishes a framework for discussions regarding offtake of vanadium pentoxide and other downstream vanadium products. The parties will investigate downstream technical collaboration with scope for joint development of ferrovanadium production facilities in Western Australia and India. Discussions will also include potential investment by Tata Steel into Technology Metals Australia and the Murchison Technology Metals Project.

Technology Metals is developing Murchison Technology Metals Project in Western Australia to produce high purity vanadium pentoxide and is investigating opportunities to move downstream including the production of vanadium electrolyte, ferrovanadium and vanadium nitride. Technology Metals is developing the high grade Murchison Technology Metals Project located 50km south of Meekatharra in Western Australia with targeted vanadium production of about 12,500 tonne per annum V2O5 over an initial 25 year mine life. The MTMP hosts an Ore Reserve Estimate of 44.48 million tonne @ 0.89% V2O5 divided between the Gabanintha and Yarrabubba deposits.

Vanadium is utilised in the steel industry where it is primarily used in metal alloys such as rebar and structural steel, aircraft and automotives. The addition of a small amount of vanadium can increase steel strength by up to 100% and reduces weight by up to 30%. Utilising higher strength steel reduces overall CO2 emissions through increased efficiency of use, longer service life and higher capacity across a range of applications.

Benefits of using vanadium in high strength steel

1. Less micro-alloyed steel is required in construction applications to achieve the required structural performance, reducing consumption of raw materials and energy

2. Addition of a small amount of vanadium can increase steel strength by up to 100%.

3. Stronger, longer lasting steel with greater seismic performance means higher service life

4. While increasing tensile strength of steel, adding vanadium also reduces its weight by up to 30%. Less weight in aircraft and automotive applications, for example, leads to less overall carbon emissions

5. Use of vanadium in steel is critical to the reduction in carbon footprint through increased efficiency and economy of material, especially in the construction and transportation sectors

The construction sector is the biggest consumer of steel products, and vanadium plays an essential role in providing cost-effective solutions by increasing the strength of reinforcing bars in buildings, tunnels and bridges, and strengthening steels to resist fire, earthquake and corrosion.

Vanadium is used in aerospace applications to provide low density, high strength, and strength at high operating temperatures, essential for components such as aero-engine gas turbines and airframes.

In automotives, the inclusion of vanadium assists in strength, reliability, ease of manufacture and highest strength-to-weight ratio to minimise fuel consumption and increase economic efficiency.

voda 11 oktober 2022 07:37

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JSW Steel India Posts 36% YoY Surge in Steel Production in H1

India’s leading steel maker JSW Steel has reported that its group combined crude steel production at 5.68 million tonnes forJuly-September quarter of 2022-23 registering a growth of 12% YoY, including the production at jointly controlled entities.

July-September 2022
Total - 5.68 million tonnes, up 12% YoY
JSW Steel Indian Operations - 5.57 million tonnes, up 36% YoY
JSW Ispat Special Products - 0.03 million tonnes, down 77% YoY
Indian Operations Incl Joint Control - 5.6 million tonnes, up 14% YoY
JSW Steel USA Ohio - 0.08 million tonnes, down 46% YoY

H1 of FR 2022-23
Total - 11.56 million tonnes, up 14% YoY
JSW Steel Indian Operations - 11.19 million tonnes, up 36% YoY
JSW Ispat Special Products - 0.13 million tonnes, down 50% YoY
Indian Operations Incl Joint Control - 11.32 million tonnes, up 15% YoY
JSW Steel USA Ohio - 0.24 million tonnes, down 17% YoY

JSW Steel said “The crude steel production for Q2 FY 2023 was sequentially lower by 3%. This drop in production was attributable mainly to extended maintenance shutdowns in JISPL, subdued market conditions in USA and lower capacity utilisation in other locations in India due to supply and logistics constraints in sourcing of iron ore and steep decline in export volumes.”

voda 11 oktober 2022 07:37

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Sanctions Quotas on Russian Slab Imports Cover Needs of NLMK Plants

The European Union, which has banned imports of rolled stand semi-finished steel products from Russia, has made exceptions for certain types of semis that strictly meet the necessary technical requirements. This includes permission to supply almost 7.5 million tonnes of slabs (CN 7207 12 10) to the region in the period to the end of September 2024, including about 3.748 million tonnes from 7 October 2022 to 30 September 2023 and the same amount from 1 October 2023 to 30 September 2024.

The ban will also not apply to 620,000 tonnes of square steel billets (CN 7207 11) over the same period, including 487,200 tonnes from 7 October 2022 to 30 September 2023, 85,260 tonnes from 1 October 2023 to 30 September 2024 and another 48,720 tonnes from 1 January to 31 March 2024.

The main consumers of Russian slabs in Europe at the moment are the plants of Russian steelmaker NLMK, which has NLMK La Louviere & NLMK Clabecq mills in Belgium, NLMK DanSteel in Denmark and NLMK Verona in Italy. NLMK shipped 2.4 million tonnes of slabs to its European plants in 2021.

voda 11 oktober 2022 07:37

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Marubeni-Itochu Steel Acquires UK Steel Distributor B&M

Tokyo headquartered Marubeni-Itochu Steel has acquired the entire share capital of the Barclay & Mathieson in UK. Barclay & Mathieson Group includes the divisions B&M Steel, B&M Architectural, Steel Plate and Sections, Industrial Metal Services, Avon Steel and Abram Pulman Steel. Marubeni-Itochu Steel President & CEO Mr Tatsuhiko Toshita said “MISI are the instant, global supply solution, our worldwide infrastructure will help us catapult the B&M group to the next level”

Barclay & Mathieson CEO Mr Mike Walton said “It’s an exciting time for the B&M Group, with further plans for growth in the UK & the rest of the world, the backing of our new parents and the significant resources both financial and operational will enable us to deliver those goals”

Marubeni-Itochu is a major supplier of steel products and have divisions in Oil & Gas, Automotive, Shipbuilding, Civil Engineering, Construction & Electrical Appliances along with renewable energy. MISI plans to grow presence within the UK and European markets and the acquisition of the B&M group will add real value adding businesses to its existing portfolio. With plans to invest significantly post acquisition it will be an exciting opportunity to expand and grow further globally.

voda 11 oktober 2022 07:38

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Mr Rajamani Krishnamurti Assumes Charge as ISSDA President

The Indian Stainless Steel Development Association has appointed Mr Rajamani Krishnamurti as its president with immediate effect. With three decades of industry experience, Mr Krishnamurti replaces Mr KK Pahuja. In his new capacity, Krishnamurti will be responsible for leading ISSDA to amplify awareness and applications of stainless steel. He will also lead collaborations with stainless steel

According to ISSDA, he has over 30 years of experience and served in leadership positions at various business houses like ESSEL Group, ESSAR Group, RPG Group, JSW Group and CII, among others.

voda 11 oktober 2022 07:39

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Outokumpu to Continue to Restrict Ferrochrome Production

Stainless steel leader Outokumpu plans to continue to restrict its ferrochrome production and starts related change negotiations. Outokumpu said “The price of electricity remains exceptionally high and the situation on the energy market has not eased since Outokumpu announced on September 6 its decision to delay the restart of one of its three ferrochrome furnaces after a maintenance break. In this exceptional situation, the company plans therefore to further delay the restart of this furnace at least until the end of the first quarter of 2023 and will start change negotiations related to the restriction of the ferrochrome production. These negotiations concern all of the employees working in the ferrochrome operations, and the planned measures would concern at most 70 people.”

Outokumpu President Business Area Ferrochrome Mr Martti Sassi said “Unfortunately, the situation in the energy market has not eased, but the high price of electricity continues to have a negative impact on our cost competitiveness compared to our competitors, mainly from outside Europe. The possible further delay of the restarting of the furnace is a difficult but potentially necessary measure in an utterly exceptional situation. In the change negotiations, we will try to find a solution for us to be able to employ our ferrochrome personnel in the other Tornio operations.”

Outokumpu started to optimize its ferrochrome production in August 2022 by not producing ferrochrome at the highest electricity prices. The capacity of the furnace that has been shut down is approximately 30% of the entire ferrochrome capacity. Continuing to restrict the ferrochrome production will not impact Outokumpu’s stainless-steel deliveries.

voda 11 oktober 2022 07:40

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Acciaierie d'Italia & Polytechnic University of Bari Ink Pact

Taranto based Italian steel maker Acciaierie d'Italia and Polytechnic University of Bari have signed a partnership agreement for technological counseling and sustainable innovation of production processes. The agreement sets up a long-term relationship in which the University, through professors and researchers, will support the Company's research, technological development and innovation activities for the steel sector. The common target is to further contribute to the growth of the regional economic and production context and to raise a greater attention on sustainability issues in manufacturing.

Acciaierie d'Italia has created its own Research and Development Center within the Taranto plant to support innovation and improvement of production processes and products. The agreement with the Polytechnic of Bari is part of the collaboration network expansion of the Center, which operates in full scientific autonomy.

In fact, the two realities are already strongly synergic in terms of professional training: 150 engineers out of the approximately 200 currently employed in the Taranto steel plant have graduated from the University of Bari. A number destined to grow thanks to the ongoing selections for the recruitment of additional specialized profiles.

voda 11 oktober 2022 07:40

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Hoa Phat’s Rebar Exports Exceeded 1 Million Tonne in 9 Months

Vietnamese steel giant Hoa Phat Group produced 540,000 tonnes of crude steel in September 2022 while the sales volume of steel products reached 555,000 tonnes. Hot rolled coil reached 228,000 tonnes, an increase of 29% YoY while construction steel recorded 318,000 tonnes, a decrease of 3% YoY. Storm and severe weather compounded in September, affecting construction activities. However, Hoa Phat steel pipe sales volume was better reaching nearly 76,000 tonnes, rising 94% over the same period. The output of galvanized steel sheets in the domestic market also doubled compared to the same period in 2021.

In 9 months, Hoa Phat has produced more than 6 million tonnes of crude steel, equivalent to the same period in 2021. Sales of construction steel products, HRC, and billets reached 5.7 million tonnes, an increase of 3% compared to 9 months in 2021. Construction steel recorded 3.4 million tonnes after 9 months, growing 24%. With the hot rolled coil product line, the Group has supplied to domestic and foreign markets more than 2 million tonnes, rising 5% compared to 9 months of 2021 and contributing 36% of Hoa Phat's overall output over the past time. HRC downstream products are steel pipes reaching 577,000 tonnes, growing 16%; coated steel sheets of all kinds recorded 249,000 tonnes, falling slightly compared to the same period last year.

This figure has a significant contribution from the export market. The export output has surpassed 1 million tonnes, which is equivalent to 2021 as a whole, accounting for 30% of the total amount of construction steel that Hoa Phat supplies to the market. Currently, Hoa Phat is exporting steel to over 20 countries and territories around the world.

Hoa Phat has a crude steel capacity of 8.5 million tonnes per year, leading the market share of construction steel and steel pipes in Vietnam, about 36% and 29% respectively. With the advantage of steelmaking from iron ore and modern technology, the Group owns a diverse and high-quality product chain, meeting all the needs of domestic and foreign customers.

voda 11 oktober 2022 07:41

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Ship Recycling Market Bypassing Beaches

World's leading cash buyer of ships for recycling GMS said that “Sub-continent markets appear to have disappeared back into the ether for another week, as trading markets rebound and candidates for recycling start to dissipate. In recent weeks, volatile steel plate prices, a constantly deteriorating currency and starved US Dollar credit lines across India, Pakistan and Bangladesh have all led to a near total halt on buying at anywhere near respectable levels. As such, it is hard to gauge where prices really stand today, with so few Buyers either having the capabilities to open an LC & perform on any sizeable vessel, and furthermore, the lack of any sort of confidence to offer and maintain any firm levels.”

GMS said “Even in Turkey, the situation remains unrelentingly gloomy, with little to no movement in any positive direction, all while local sentiments remain depressed on the back of a Lira that has been scraping to record-lows by the week and plate prices that remain in the dumps.:

GNS said “Overall, it has been a frustrating period of time for Cash Buyers with any tonnage to sell and it is becoming increasingly fraught to get vessels delivered into a beleaguered recycling market.”

GMS added “The rebound on VLCCs has also just come at the right time, and to see Suezmax and Aframax tankers flying and even a rebound on Cape rates of late has seen most larger LDT vessels bypass the beaches once again as they have yet another chance at squeezing out a few more voyages. There are also very few smaller LDT vessels on the buffet and as such, it increasingly looks as though it will be as quiet an end to the year as it has been for the last two quarters. Certainly, it is time again for the recycling markets to get their affairs in order, ahead of an anticipated higher influx of vessels next year.”

GMS Price Assessment - India/Bangladesh/Pakistan – Week 40 Unchanged
Dry Bulk – USD 550-570 per LDT
Tankers - USD 560-580 per LDT
Containers - USD 570-590 per LDT

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