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voda 28 oktober 2022 07:57

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US Steel Reports 68% YoY Shrinkage in Third Quarter Profit

Strategic Research Institute
Published on :
28 Oct, 2022, 5:40 am

United States Steel Corporation has reported third quarter 2022 net earnings of USD 490 million as compared to USD 516 million in the third quarter 2022 & all-time best record third quarter 2021 net earnings of USD 1,638 million. US Steel President & Chief Executive Officer Mr David B Burritt said “We delivered another solid quarter and are on pace for our second-best financial year ever and a third consecutive year of record safety performance. Continued profitability and prudent working capital management resulted in healthy free cash flow that supported our strategic initiatives. Our assets are running well to deliver high-quality steel, safely and reliably to our customers.”

Mr Burritt continued, “Demand headwinds persisted through the third quarter. Across our integrated steelmaking mills, we responded quickly with footprint actions aligning supply with the current flat-rolled order book. The impact of these headwinds in our Mini Mill and US Steel Europe segments were worsened by temporarily higher than normal raw material expenses in the quarter, as we worked through inventories built in response to the Ukrainian conflict. While we expect to work through these costlier raw materials through year-end, we remain focused on the opportunity to in-source Mini Mill metallics as a competitive cost advantage. Results for US Steel Europe were also negatively impacted by escalating energy costs, which we expect will also remain high. Our Tubular segment continued to deliver sequential improvements, reliably serving strong demand in domestic energy end markets.”

voda 28 oktober 2022 07:58

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Hyundai Steel Q3 Net Profit Down by 56% YoY

Strategic Research Institute
Published on :
28 Oct, 2022, 5:41 am

South Korea’s second largest steel maker Hyundai Steel reported its third-quarter net profit of KWR 263.8 billion (USD 186 million), down 56% YoY. Operating profit for the July-September period was KWR 373 billion, down 55%. Sales rose 19% YoY to KWR 6.99 trillion. Hyundai Steel attributed the downbeat performance to a fall in prices of key products and increased costs.

Hyundai Steel expects demand to remain weak due to an economic slowdown, aggressive monetary tightening and a slump in the construction and real estate sectors.

voda 28 oktober 2022 07:59

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Steel Group Interested to buy Liberty Steel Dudelange Luxembourg

Strategic Research Institute
Published on :
28 Oct, 2022, 5:43 am

RTL reported that Luxembourg’s Minister of the Economy Franz Fayot and Minister of Labour Georges Engel met with representatives of the Independent Luxembourg Trade Union Confederation OGBL and the Luxembourg Confederation of Christian Trade Unions LCGB as well as the Liberty Steel personnel delegation in Dudelange to discuss the future of the site. Following the meeting, the Economy Minister repeated that "A player from the industrial sector is interested in purchasing the site, without revealing the identity of the potential buyer.”

According to Fayot and the trade unions, the management of Liberty Steel is acting in a potentially abusive manner, even compromising the economic future of the Dudelange site. Mr Fayot has called the management of Liberty Steel's Luxembourgish subsidiary to take a position on this matter.

In recent months, two names have emerged Russian steel group NLMK and German Salzgitter.

Liberty Steel's operations in Belgium and Luxembourg are currently suspended, at least until the end of the year.

voda 28 oktober 2022 07:59

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Acerinox Recognises Its Best Ever January to September Results

Strategic Research Institute
Published on :
28 Oct, 2022, 5:45 am

Spain headquartered stainless steel maker Acerinox Group has recognised profits after tax and non-controlling interests amounting to EUR 741 million in the first nine months of the year.

Acerinox recognised revenue of EUR 6,996 million, giving rise to a 47% increase compared to the first nine months of 2021.

Moreover, EBITDA, which totalled EUR 1,186 million, was 77% higher than that of the same period in 2021, and the EBITDA margin on sales increased to 17%.

Melting shop production, 1,792,480 tonnes, decreased by 10% compared to the same period in 2021.

Acerinox, while giving the outlook, said “Our main market, the United States, maintain a better tone than the rest of the markets. This is expected to continue in the coming months. The high levels of imports and inventories reached in the summer have led us to reduce production and sales in order to optimise margins. The outlook in our main market, the United States, is positive, while in Europe uncertainty prevails, due to the war and high energy prices. The fourth quarter will be affected by the inventory reduction in the market and the aforementioned circumstances, and we expect EBITDA to be lower than in the third quarter. Even so, the 2022 results will be the best in our history, thus demonstrating our capacity to take advantage of the good moments in the cycle and the level of competitiveness achieved. In the fourth quarter we expect a reduction in working capital, which would have a positive effect on cash generation and debt reduction.”

voda 28 oktober 2022 08:01

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SAIL Crosses INR 10,000 Crore Procurement Value on GeM

Strategic Research Institute
Published on :
28 Oct, 2022, 5:46 am

Steel Authority of India Limited has become the first Central Public Sector Enterprise to achieve the major milestone of procurement value of INR 10,000 crore through the Government-e-Marketplace, GeM, since inception. SAIL has been at the forefront in partnering with GeM and has played an active role to create different functionalities to enhance the reach of the GeM portal.

From a small beginning of INR 2.7 crore in FY'18-19, it has already crossed the total value of INR 10,000 crore in this year. Incidentally, SAIL was the largest CPSE procurer on GeM in the previous Financial Year with a value of INR 4,614 crore. In the current fiscal, SAIL has already surpassed the achievement of previous year with procurement of over INR 5,250 crore till date and is committed to substantially increase the volumes on GeM.

voda 28 oktober 2022 08:01

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JSW Steel USA ties-up Financing for Modernizing Baytown Plate Mill

Strategic Research Institute
Published on :
28 Oct, 2022, 5:48 am

JSW Steel USA has tied-up long-term financing with two Italian banking institutions, Intesa Sanpaolo and Banco BPM, for its Plate Mill modernisation project in Baytown in Texas in US. Out of the total financing, USD 70 million is covered under SACE guarantee and the balance USD 112 million is a term loan.

JSW Steel USA's Plate mill modernisation project includes supplies from Italian engineering companies, Danieli & C Officine Meccaniche, Danieli Automation, and Danieli Taranis, all being subcontractors of Danieli Corporation for a cutting line, rolling mill and ACC/DQ. The project also includes supplies from Sideridraulic for a water treatment and cooling system and from Tenova for a grinding machine for the new rolling mill and related engineering services. The total value of equipment and related engineering services being provided by these suppliers is over USD 100 million.

The financing was structured by SACE's Export Finance Division with the contribution of the SACE office in Mumbai, which has a long-standing relationship with JSW Steel. The SACE guarantee is provided with the intention of promoting Italian exports. Intesa Sanpaolo (IMI Corporate & Investment Banking Division) acted as SACE Agent and coordinator of the commercial tranche. Both, Intesa Sanpaolo and Banco BPM, have acted as Bookrunners and Mandated Lead Arrangers of the two facilities.

Danieli & C Officine Meccaniche, founded in 1962 in Buttrio (UD), is a holding company in the design and installation of machines and plants for the steel industry and in the production of special steels. In its 60 years of experience, the Group has always invested in innovation and internationalisation to reach a leading position in the construction of steel mills and plants for the production of long products.

voda 28 oktober 2022 08:02

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AM/NS India to Break Ground for Hazira Expansion on 28 October

Strategic Research Institute
Published on :
28 Oct, 2022, 5:49 am

Media has reported that India’s Prime Minister Mr Narendra Modi is likely to perform the groundbreaking ceremony and lay foundation stone of ArM/NS India’s Hazira steel plant expansion project on 28 October in Gujarat. The report quoted sources as saying that “PM Narendra Modi is the chief guest for the Bhoomi Pujan for AMNS India’s Hazira plant expansion project on 28 October 2022. Besides PM, Union Steel Minister Mr Jyotiraditya Scindia, Gujarat Chief Minister Mr Bhupendra Patel, and ArcelorMittal’s Executive Chairman Mr Lakshmi Mittal and CEO Mr Aditya Mittal will be attending the event.

AM/NS India had received environmental clearance for the expansion of the plant located in Hazira on 6 October. As per the plan, the annual steel making capacity scaled up to 15 million tonnes from 9 million tonnes at present.

In a statement issued earlier, AM/NS India Chairman Mr Aditya Mittal had said “Since entering the market in 2019, we have significantly improved performance at our Hazira plant and set out a clear vision to play a leading role in the decarbonisation and development of the Indian steel industry. We want to grow with India, and for India. We are committed to continual improvement in our environmental performance and to producing the high-quality, sustainable steel India needs to fulfil its economic ambitions.”

AM/NS CEO Mr Dilip Oommen, in an earlier statement, had said “This expansion will give a fillip to our next phase of growth, enabling us to meet the growing domestic market demand, while also equipping us to produce high-grade value-added steel. It reinforces AMNS' commitment to supporting India’s growth journey towards a USD 5 trillion economy.”

Bijlage:

voda 28 oktober 2022 08:04

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ArcelorMittal, Mitsubishi & BHP Sign Steel Decaronization Pact

Strategic Research Institute
Published on :
28 Oct, 2022, 5:51 am

World’s leading global steel and mining company ArcelorMittal, carbon capture technology pioneer Mitsubishi Heavy Industries Engineering, leading global resources company BHP, along with Mitsubishi Development Pty Ltd are collaborating on a multi-year trial of MHIENG’s carbon capture technology with ArcelorMittal, following the signing of a funding agreement between the parties. The companies will also conduct feasibility and design study to support progress to full scale deployment.

There are no full scale operational CCUS facilities in blast furnace steelmaking operations at present, with only a limited number of small capacity carbon capture or utilisation pilots underway or in the planning phases globally. However, later this year ArcelorMittal Gent will commission its Steelanol project, a scale demonstration plant that will capture carbon-rich process gases from the blast furnace and convert them into ethanol.

To further understand how carbon capture technology can be incorporated into existing steel plants, ArcelorMittal is facilitating the trial at its five million-tonnes-a-year steel plant in Gent, Belgium, and at another location in North America, with MHIENG supplying its proprietary technology and supporting the engineering studies. BHP and Mitsubishi Development, as key suppliers of high-quality steelmaking raw materials to ArcelorMittal’s European operations, will fund the trial that is anticipated to run for multiple years. In Gent, the trial will have two phases. The first phase involves separating and capturing the CO2 top gas from the blast furnace at a rate of around 300kg of CO2 a day, a technical challenge due to the differing levels of contaminants in the top gas. The second phase involves testing the separating and capture of CO2 from the offgases in the hot strip mill reheating furnace, which burns a mixture of industrial gases including coke gas, blast furnace gases and natural gas.

The parties plan to install the mobile test unit in one of ArcelorMittal’s North American Direct Reduced Ironplants, to test MHIENG’s technology in this steelmaking route.

voda 28 oktober 2022 10:44

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ArcelorMittal to trial CCUS in Europe, US
239 Views

ArcelorMittal is teaming up with Mitsubishi Heavy Industries Engineering (MHIENG), BHP and Mitsubishi Development to develop carbon capture, utilisation and storage (CCUS) technology in Europe and the US.

The firms will first implement a large-scale multi-year trial of MHIENG’s system at ArcelorMittal’s steel plants in Ghent, Belgium, as well as at an unspecified US site.

The Ghent project involves two phases. During the initial stage, the CO2 top gas will be captured from the blast furnace at a rate of around 300 kg/day of CO2. The second phase involves testing the separation and capture of CO2 from the offgases in the hot strip mill reheating furnace, which burns a mixture of industrial gases, including coke gas, blast furnace gases and natural gas, ArcelorMittal says.

“We are developing two routes to decarbonise steelmaking: Smart Carbon and Innovative-DRI. Both routes will contribute in our journey to deliver carbon-neutral steelmaking. The Smart Carbon route also allows us to integrate carbon capture and re-use (CCU) or storage (CCS) technologies, capturing carbon emitted during the steelmaking process,” ArcelorMittal Belgium chief executive Manfred Van Vlierberghe says in a note sent to Kallanish.

The steelmaker aims to reduce CO2 emissions by 35% by 2030 in Europe, and by 30% by 2030 worldwide.

The 5 million tonnes/year capacity ArcelorMittal Gent steelworks will also start operating its “Steelanol” demonstration plant this year, which will capture gases from the blast furnace and convert them into ethanol.

Meanwhile, at one of ArcelorMittal’s North American plants, the firms will build a mobile direct reduced iron plant to test MHIENG’s technology in this steelmaking route.

While MHIENG will supply its technology, BHP and Mitsubishi Development will financially support the trial, which should last several years, ArcelorMittal reveals.

BHP is strongly involved in decarbonising steelmaking, and partnering on similar projects with players such as Posco, China Baowu, JFE Steel, HBIS Group and Tata Steel. Together with ArcelorMittal, these steelmakers account for more than 17% of global steel production.

According to the International Energy Agency IEA, CCUS technology, a key decarbonisation solution for the hard-to-abate sectors such as steelmaking, should be used in more than 53% of primary steel production by 2050 in order to realise European net-zero targets.

Despite being readily available, very few steelmakers globally and none in Europe have so far invested in CCUS technology, Kallanish notes.

Over the past 30 years, MHIENG has been developing its “KM CDR ProcessTM for CO2 capture” in partnership with Kansai Electric Power. The technology has been installed in 16 plants globally, of which two are under construction.

Natalia Capra France

voda 31 oktober 2022 07:37

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Belgium Grants EUR 6 Million to Develop Green Steel

Strategic Research Institute
Published on :
31 Oct, 2022, 3:41 am

Brussels Times reported that Belgium's Council of Ministers has agreed to make EUR 6 million available for the development of green steel based on a proposal from Energy Minister Ms Tinne Van der Straeten. According to Ms Van der Straeten, green steel is indispensable to make the switch to 100% renewable energy and running ahead pays off the most. He said “By going green faster, we anchor industry and jobs at home, reduce our dependence on fossil fuels and reduce CO2 emissions.”

The minister added “Green steel is the construction material of the future with which we will build our offshore wind turbines. The polluting blast furnaces disappear, steel production remains.”

The grant, which is part of the federal hydrogen strategy, comes from the European Recovery Fund.

Belgium has one major steel producer in ArcelorMittal. The company already announced last year that it was investing EUR 1.1 billion in green steel furnaces at its site in Ghent, marking one of the largest climate investments ever made in Belgium.

voda 31 oktober 2022 07:38

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Kalpataru COE Industry 4.0 Set up at RINL for Steel Industry

Strategic Research Institute
Published on :
31 Oct, 2022, 3:43 am

The consortium of Rashtriya Ispat Nigam Limited, Ministry of Electronics & Information Technology, Government of Andhra Pradesh and Software Technology Parks of India has created Centre of Entrepreneurship-Kalpataru on Industry 4.0 at RINL Visakhapatnam Steel Plant. The partnership summit was conducted to share knowledge on centre for entrepreneurship.

RINL CMD Mr Atul Bhatt said that “CoE at RINL will bring in several start-ups from across the country to work for steel industry and other industries. He expressed confidence that the Kalpataru, Center of Entrepreneurship Industry 4.0 at RINL will the hub for providing digital solutions to the Indian steel industry.’

voda 31 oktober 2022 07:38

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2 Killed in Fire in Libyan Iron & Steel Complex in Misrata

Strategic Research Institute
Published on :
31 Oct, 2022, 3:44 am

Libya Observer reported that the Libyan Iron & Steel Company in Misrata has confirmed the death of two firefighters and the injury of four as a result of an industrial fire in the direct reduction plant in the dust extraction unit of the first unit.

Six people were injured with varying degrees in an industrial fire in the Iron and Steel Complex in Misrata on Saturday morning. Several workers were transferred to hospitals to receive treatment, while those whose cases need more care were transferred to the Burns and Plastic Surgery Hospital in Tripoli.

voda 31 oktober 2022 07:39

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US Steel Kosice Warns of Gas Shortage Impact on Business

Strategic Research Institute
Published on :
31 Oct, 2022, 3:46 am

US Steel while presenting quarterly results confirmed that the company has pulled forward a planned 60-day outage on blast furnace 2 at US Steel Kosice in Slovakia from October to September. It said “These assets remain temporarily idled due to market conditions. The Company continues to monitor market conditions to ensure our order book and production footprint are balanced.”

US Steel said “In February 2022, Russia invaded Ukraine and active conflict continues in the country. The war in Ukraine will likely continue to cause disruption and instability in Russia, Ukraine, as well as the markets in which we operate. The Company is constantly monitoring the situation for impacts and risks to the business and is implementing risk mitigating strategies where possible. As a result of the invasion, governments around the world, including the European Union and the United States of America, have enacted sanctions against Russia and Russian interests. We are complying with all applicable sanctions that impact our business.”

US Steel said “US Steel Kosice purchases certain raw materials from sources that procure supply from Russia, including natural gas and iron ore. Since the onset of the war, and before, US Steel Kosice has been building its inventory of iron ore and coal and procuring them through alternate sources. Current levels of iron ore and coal are sufficient to serve customer demand through the end of 2022. With the EU prohibiting purchases of coal from suppliers in Russia, new purchases of coal originating from Russia have stopped. The Company has built up sufficient inventory on site or in-transit to meet current customer demand. Efforts to secure alternate sources of supply are underway to continue meeting demand.”

US Steel said “Additionally, in response to sanctions, Russia has limited supply of natural gas to certain countries. We understand that the country of Slovakia has natural gas storage levels that are sufficient to cover Slovakia's consumption, and Slovakia expects additional shipments originating not from Russia, but from Norway and liquefied natural gas from the US and Africa. Those shipments should be sufficient to cover the needs for the 2022/2023 winter heating season for both households as well as industry, based on the public announcement of the Slovak Ministry of Economy on July 12, 2022. While not expected, if a natural gas crisis is declared in Slovakia, operations at our USSE business could be materially adversely impacted.”

US Steel added “Future sanctions and responsive actions in the region remain uncertain, but we continue to engage with various governmental authorities and suppliers as we navigate the volatile situation. Our team in USSE has been engaged in humanitarian efforts related to the war, and we continue to operate to support the region's people and economy.”

voda 31 oktober 2022 07:40

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Sumangala Steel Setting Up Shredder at Puducherry Steel Mill

Strategic Research Institute
Published on :
31 Oct, 2022, 3:47 am

Chennai-headquartered 35-year-old steel manufacturer Sumangala Steel is embarking on a multi-pronged expansion, including INR 50 crore investments in new units, in preparation for the future growth trajectory. Sumangala Steel Chairman & Managing Director Mr Rajendran Sabanayagam said “The company has undertaken expansion activities to take advantage of the emerging demand. It is setting up a modern scrap shredder at the Puducherry steel mill complex with INR 25 crore investments to process end-of-life vehicles, white goods and light scrap. This is expected to be ready by the end of next year. The steel scrap that will come out of this process will be used as a raw material to make secondary steel products.”

Sumangala Steel is also establishing INR 15 crore TMT finishing infrastructure to deliver blue steel to be ready by the next year.

The company has also set up a facility with imported equipment from Italy for readymade steel. In this, the steel is pre-fabricated for bending and bundling and sent to the project site needing those specific products.

Starting with a modest capacity of 12,000 tonnes per annum in 1987, the company, a manufacturer of billets and TMT bars, has more than 200,000 tonnes of capacity today. With over 600 employees, Sumangala Steel produces various grades of TMT across all sizes from 8mm to 32mm.

voda 31 oktober 2022 07:41

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SAIL & AAI Sign Pact to Make Rourkela Airport Operational

Strategic Research Institute
Published on :
31 Oct, 2022, 3:48 am

Steel Authority of India Limited and Airport Authority of India have signed an Operation and Management agreement in New Delhi for facilitating commercial operations from Rourkela in the state of Odisha. SAIL, in 2018, had signed a MOU for use of its own Airport, under the UDAN scheme, for operation of commercial flights. Now, SAIL has signed the O&M contract with AAI, through its Rourkela Steel Plant, for facilitating commencement of commercial flight from Rourkela.

The Ministry of Civil Aviation has provided financial support for the up-gradation of this Airport. The Government of Odisha will provide the security, fire services and ambulance services besides helping with other local clearances. AAI, on behalf of SAIL Rourkela Steel Plant, will operate and manage the airport.

The Airport will provide relief to all air travelers from the industrial town of Rourkela and the surrounding areas. The commencement of air services is also important in view of forthcoming Hockey World Cup where 20 out of the total 44 matches are being held at Rourkela during January 2023. This global event will witness a huge footfall to Rourkela during the period and the requirement of air connectivity to the city will be a major necessity for logistical reasons.

voda 31 oktober 2022 07:42

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Coal Charging of COB 1 of NMDC’s Nagarnar Steel Plant Begins
rce – MANAFIN

Strategic Research Institute
Published on :
31 Oct, 2022, 3:50 am

MECON has achieved another milestone with coal charging of Coke Oven Battery 1 at upcoming NMDC’s Nagarnar Steel Plant in the presence of Nagarnar Steel Plant ED Incharge Mr K Praveen Kumar and other senior officials. The first batch of coke was discharged this afternoon paving the way for sequential commissioning of subsequent key units. 7 meter tall Top charged By-Product recovery Battery has capacity of 0.88 million tonnes of Met Coke production.

By-product plant, a critical unit that is intrinsically linked to Coke Oven, was also commissioned. This is an absolute prerequisite for starting a coke oven battery because all toxic elements produced during the coke making process are captured, treated and commercialized by the By-product Plant. This unit effectively aids pollution free coke production by extracting Tar, Napthalene, Sulphur and Ammonia as by-products. M/s Hutni of Czechoslovakia is the technology provider.

The annual metallurgical coke production capacity of Nagarnar Steel Plant's Coke Oven Complex is 1.76 million tonnes, when fully operational. Constructed at a cost of INR 1978 crore, the Project executed by a consortium comprising of BEC Bhilai, Giprokoks of Ukraine, CUI and Concord. The Coke Oven Complex consists of 2 batteries. Each battery has 67 ovens that are 7 metre tall and a Coke Dry Cooling Plants which will ensure dry quenching of coke using nitrogen. This effectively protects against pollution and also helps in utilising the heat to generate power.

Battery No 2 is due for commissioning in the next few days

The process will eventually culminate in the commissioning of the Hot Strip Mill and Thin Slab Caster in the coming months. Nagarnar Steel Plant aims to produce 2.89 million tonnes of high quality HR Coils, Plates and Sheets annually, using state of the art technology and achieving the highest level of energy efficiency.

MECON is rendering PMC and O&M services for the Greenfield 3 million tonnes per annum steel plant.

voda 31 oktober 2022 07:42

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AMNS India Commences INR 60,000 Crore Expansion Project at Hazira

Strategic Research Institute
Published on :
31 Oct, 2022, 3:53 am

ArcelorMittal Nippon Steel India, a joint venture between ArcelorMittal and Nippon Steel, two of the world’s leading steelmakers, conducted a groundbreaking ceremony to mark the commencement of an INR 60,000-crore investment programme to increase production capacity of its Hazira plant in Gujarat, from 9 million tonnes per annum to 15 million tonnes per annum. The ceremony was graced by Hon’ble Prime Minister of India Mr Narendra Modi, Gujarat CM Mr Bhupendra Patel, Steel Minister Mr Jyotiraditya Scindia and officials of ArcelorMittal & Nippon Steel including Mr Laxmi Mittal Mr Aditya Mittal and Mr Dilip Oommen

The state-of-the-art facilities to be set up

Ironmaking process: Blast furnaces, sintering facilities, coke furnaces, etc.

Steelmaking process: Basic oxygen furnaces, continuous casting machines, etc.

Hot process: Hot Strip Mill, etc.

This expansion at Hazira comes nearly three years after AM/NS India was established, and will involve upstream and downstream steelmaking expansion, creating more than 60,000 jobs and strengthening nearby communities with initiatives that deepen sustainability.

Since 2019, AM/NS India has made strong progress on performance and debottlenecking at Hazira plant by applying the global best practices of its parent companies and investing in technology and R&D. The company is now a self-sustaining, free cash flow generating business and well-positioned in a fast-growing market to deliver long-term value to its employees, communities, and the Indian steel industry.

As part of its expansion programme, AM/NS India will continue to contribute to the strengthening of India’s steelmaking expertise and capabilities, including the development of downstream facilities to produce value-added steels to reduce India’s reliance on steel imports for use in sectors such as defence, automotive and infrastructure.

voda 31 oktober 2022 07:42

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SAIL Chairperson Inaugurates BF 7 at BSP after Capital Repairs

Strategic Research Institute
Published on :
31 Oct, 2022, 3:52 am

Steel Authority of India Limited’s Chairperson Ms Soma Mondal has inaugurated and dedicated to the Nation the revamped Blast Furnace 7 at Bhilai Steel Plant after its Capital repair. SAIL BSP’s second biggest BF 7 was blown-in after capital repair on 26 October 2022. Ms Mondal witnessed Hot Metal production and interacted with employees at BF 7

During her second visit to Bhilai as Chairman, Ms Mondal also interacted with employees at Plate Mill, Sinter Plant 3 & Ore Handling Plant. At SP 3, she inaugurated QR code based system for retrieval of Electrical Drawings. All the drawings and manuals of any electrical panel can be directly downloaded in mobile phones at site by scanning the QR code pasted on that panel with the help of this system.

voda 31 oktober 2022 08:19

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Sellers race to export Chinese-origin HRC, billet
316 Views

ASEAN import markets for billet and hot rolled coil continued to see offer prices fall rapidly in the past week, Kallanish notes. Prices for Chinese billet and HRC appear to be racing each other as they spiralled down to the $500/tonne cfr Southeast Asia level on Friday. These offers are below the back-to-back quotes and production costs of Chinese mills.

Regional trading sources blame the aggressive pricing on traders short-selling, in anticipation of prices coming down when they need to ship the steel out. “They are shorting the market with expectations of further depreciation of the CNY,” a Hong Kong trader says. “Demand for steel in the winter will weaken.” While it is hard to predict when steel prices will find support, he thinks prices will stabilise slightly, after more export orders are concluded.

Certain exporters who are offering billet at below the current market price are offering open origins, of either Chinese or ASEAN material, a Chinese trader says. "When they need to ship, they hopefully can find the cargo from ASEAN mills. Or else, they ship Chinese billet without paying the VAT," he adds.

Chinese HRC has been falling noticeably quicker than billet and wire rod in the region. Traders pressing down the market by frequently offering at ever-lower prices and depressed demand in Vietnam are some of the main factors for this.

The Vietnamese steel market has been suffering from tightened credit and poor demand. Property fraud scandals have caused Vietnamese authorities to scrutinise and impose strict credit restrictions on the real estate sector and these, in turn, have quelled construction activity in the country.

Meanwhile, billet prices in the region have started to tumble quicker. However, most Chinese billet export offers are typically for 150mm 3sp grade, so the slide in the market could be less quick. “There are maybe maximum three buyers that can buy this size in 3sp grade,” a Manila trader says. “But there’s a psychological impact on prices even on other origins and products.” Another Manila trader observes: “The more they [traders] lower the price, the more the fear that further price decreases are imminent.”

Anna Low Singapore

voda 31 oktober 2022 08:20

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European mills maintain some long-term prices for 2023
304 Views

Players on the northwest European coil market have no hurry proceeding with talks for long-term contracts for 2023, given the prevailing insecurity and unusual lull in business for this time of the year.

Numerous political and economic factors are depressing business and spot market activity, and make it even more difficult to establish a formula for long-term pricing. The reference to prior contracts is virtually grotesque in view of the record leaps spot prices have seen in 2022 so far.

Still, one mill indicates it will try to continue the prices agreed in mid-year. “For existing H2 2022 contracts for automotive, we will aim for a rollover as a bare minimum as again we need to recover inflationary cost,” one manager tells Kallanish. Spot prices for hot rolled coil sunk below the mark of €900/tonne ($895) in July, but held above €800 still for some weeks. This level would have to compete in negotiations with current spot prices claimed by mills to be still at €700, but seen dipping to €650 by buyers.

A comparison will be even more difficult with this time last year, when the Ukraine war was largely unanticipated. According to the mill manager, the prices struck for 2022 HRC contracts had their low end at €1,000. That sounds credible, as spot prices at end-2021 had just undercut that mark. Moreover, contract prices are typically higher than the spot market to ensure long-term supply security.

While current spot prices are €300-350 lower year-on-year, the gap for contracts might be less pronounced. “I believe we will sign at €200-250 below last year,” the manager of a processor company opines.

On contract lengths, the mill manager says that “we are contemplating shorter-term agreements but also happy to discuss annual contracts with OEMs, where we will aim for an increase to recover some of the additional cost we incurred.”

Christian Koehl Germany

Vertraagd	26 apr 2024 17:37
Koers	23,750
Verschil	+0,210 (+0,89%)
Hoog	24,080
Laag	23,700
Volume	2.295.626
Volume gemiddeld	2.493.843
Volume gisteren	2.802.569

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