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voda 18 mei 2016 16:50

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Italy faces human rights case over ILVA - Report

ANSA reported that the European Court of Human Rights has opened proceedings against the Italian State for allegedly having failed to protect the life and health of 182 people in the southern city of Taranto from the effects of emissions from the ILVA steel plant.

The Strasbourg court deemed the evidence presented by the plaintiffs to be sufficiently solid to open proceedings on the basis of a preliminary examination.

Source: ANSA

voda 18 mei 2016 16:51

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Project Qatar a business platform - Qatar Steel

The Peninsula reported that Project Qatar 2016, the 13th edition of ‘International Construction Technology & Building Materials Exhibition’ provided a good opportunity to companies, including Qatar Steel, to meet and establishing contact with representatives of construction companies, said a top official of country’s main steel producing company. Qatar Steel successfully participated in the four-day expo which concluded on May 12 at the Doha Exhibition and Convention Center.

Ali bin Hassan Al Muraikhi, Managing Director and General Manager of Qatar Steel, said: “Project Qatar is one of the leading construction and building materials exhibitions in the Middle East, and it is a good business platform for construction companies to showcase their up-to-date materials, state-of-the-art equipment and technology available on the market and to provide solutions for building sector.”

Al Muraikhi added: “Qatar Steel, as a national leading steel producer, remains anxious to participate in Project Qatar Expo, due to its strategic importance. It provides a good opportunity for us to meet and contact representatives of construction companies, exchange expertise and new ideas with them, and also to keep abreast with the latest construction equipment and technologies used in this vital sector.

He noted that through supplying high quality rebar products used in constructions, Qatar Steel is greatly contributing to the economic development in Qatar, in line with Qatar’s National Vision 2030. The country is currently witnessing the implementation of mega infrastructure projects; commercial, housing and industrial, as well as a great number of expansion projects, for hosting the FIFA World Cup in 2022.

“Qatar Steel is committed to achieving sustainable development, and it is constantly striving to achieve growth and sustainable steel industry. Steel rebar is considered as the backbone of construction and building projects, and we are working hard to preserve the environment and reduce the impacts of our manufacturing operations on the environment, through using modern and eco-friendly technology,” he said.

Al Muraikhi also noted that through taking part in project Qatar 2016, we shall build up long term business and partnership relations.

Source : The Peninsula

voda 18 mei 2016 17:16

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Tata Steel yet to get possession of full land at Kalinganagar

Business Standard reported that after 12 years of being allotted 3475 acres of land at Kalinga Nagar in Odisha to set up a 6 million tonne integrated steel plant, Tata Steel is yet to get possession of the full area, a factor which may hurt its plan to start work on the second phase of the project.

Out of allotted 3475 acres, Tata Steel is currently in possession of 2100 acres on which the company has recently operationalised 3 million tonne steel capacity in the first phase while the balance land continues to be occupied by the local villagers agitating against the project since 2004.

What is particularly notable is that the company has hardly made any progress in land acquisition and relocation of displaced persons in the last four years. After initial setback in land acquisition following killing of 14 tribals in police firing in 2006, the company had taken possession of 2100 acres land and rehabilitated 1000 of the 1234 families identified for displacement by the end of 2011.

Source : Business Standard

voda 18 mei 2016 17:19

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China to keep tax rebate on steel exports

Reuters reported that China’s finance ministry said that China will maintain its tax rebate policy for steel exports as part of its efforts to help the sector tackle its longstanding overcapacity problems

The Ministry of Finance said in an announcement on its website that it would also maintain a low rate of value-added tax on coal in order to support the sector's restructuring efforts.

It added that China would use favorable tax policies to support mergers, debt restructuring and bankruptcies in the steel and coal sectors, which are currently in the middle of a campaign to close surplus capacity.

Source: Reuters

voda 18 mei 2016 17:25

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US DOC slaps AD / CVD duties on CR steel import from China and Japan

The United States Department of Commerce on Tuesday set final anti-dumping duties of 265.79% on imports of cold-rolled flat steel from China and 71.35% on imports from Japan, finding that producers from these countries were selling the products at unfair prices. US DOC also determined that imports of cold-rolled steel from China received countervailable subsidies of 256.44%

In the China AD investigation, no company responded to Commerce’s requests for information during the respondent-selection phase of the proceeding. Accordingly, all producers/exporters in China received a final dumping margin of 265.79 percent based on adverse facts available.

In the China CVD investigation, the Government of China, mandatory respondents Angang Group Hong Kong Co., Ltd. and Benxi Iron and Steel (Group) Special Steel Co., Ltd., and Qian’an Golden Point Trading Co., Ltd., a non-cooperative exporter, all failed to respond to Commerce’s requests for information. Thus, all imports of cold-rolled steel from China will be subject to a CVD rate of 256.44 percent.

In the Japan AD investigation, mandatory respondents JFE Steel Corporation and Nippon Steel & Sumitomo Metal Corporation did not respond to Commerce’s requests for information. Accordingly, both mandatory respondents received a final dumping margin of 71.35 percent based on adverse facts available. All other producers/exporters in Japan received a final dumping margin of 71.35 percent.

The investigations cover certain cold-rolled, flat-rolled, steel products, neither clad, plated, nor coated with metal, but whether or not annealed, painted, varnished, or coated with plastics or other non-metallic substances.

The petitioners for these investigations are AK Steel Corporation (OH), ArcelorMittal USA LLC (IL), Nucor Corporation (NC), Steel Dynamics, Inc. (IN), and United States Steel Corporation (PA).

As a result of the affirmative final AD determinations, Commerce will instruct U.S. Customs and Border Protection (CBP) to collect cash deposits equal to the applicable weighted-average dumping margins. Further, as a result of the affirmative final CVD determination, if the U.S. International Trade Commission (ITC) issues an affirmative injury determination, Commerce will order the resumption of the suspension of liquidation and will require cash deposits for CVD duties equal to the final subsidy rates established during the investigation. Commerce will also adjust the AD cash deposit rates by the amount of the CVD export subsidies, where appropriate. If the ITC issues negative injury determinations, the investigations will be terminated and no producers or exporters will be subject to future cash deposits for either AD or CVD duties. In such an event, all previously collected cash deposits will be refunded.

Source: Strategic Research Institute

voda 18 mei 2016 17:25

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Jianlong Steel to double capacity to 50 million tonnes in 5 years

Bloomberg reported that Jianlong Steel Holdings Co, the second-largest private mill in China, is seeking to more than double capacity in the next five years even as the country vows to slash its bloated industry amid global oversupply. Mr Zhang Zhixiang, chairman at the Beijing-based producer, said at a conference that the company plans to raise capacity to 50 million tonnes a year through mergers and acquisitions from 23 million tonnes now

Mr Zhang however said that his plans don’t clash with President Xi Jinping’s strategy of moving the economy away from investment in heavy industry to a consumer-led model or with government plans to cut as much as 150 million tonnes of steel capacity by 2020.

He said “The biggest problem plaguing the Chinese steel industry is that it’s too fragmented. So the foremost priority is to consolidate and to acquire enough size to achieve economies of scale before taking the second step to reduce outdated capacity. That’s the lesson we drew from Japan.”

He said “An oversupplied industry creates opportunities for low-cost acquisitions. He’s considering various forms of mergers, including one for example where owners of struggling mills take an equity share in an investment fund, giving up daily management and allowing their mills to be added to a pool of assets. The group would then consolidate the assets and provide support and equity-incentives to management and key staff.”

Jianlong has grown from a small mill to one of the world’s top 20 within about 10 years. The group this month restarted production at a factory bought last year from the bankrupt Shanxi Haixin Iron & Steel Group

Source: Bloomberg

voda 18 mei 2016 17:26

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Amreli Steels to increase rebar output to 500,000 tons from next year

The News reported that Amreli Steels, Pakistan’s leading manufacturer of steel bars, is all set to more than double its production capacity from May next as the steel maker is building a new plant near the suburbs of the metropolis. The company is expected to kick-start its new re-rolling plant in Dhabeji with an estimated annual capacity of 300,000 tons. The operational capacity of its existing re-rolling plant, located in Sindh Industrial Trading Estates, Karachi, is 180,000 tonne per year.

Director Mr Hadi Akberali at Amreli Steels said the civil and engineering works on the plant’s site have already begun. He said “We expect the civil works to be completed within the next three to four months. We have plans to start the commissioning of the project by March 2017, if the sequencing of all activities goes on smoothly.”

The new re-rolling plant is a part of the steel maker’s expansion strategy. And, it is financing the project, which has an estimated cost of Rs3.4 billion, through equity raised through the initial public offering in October last.

Source: The News

voda 18 mei 2016 17:27

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China plans to transfer 10 million tonnes of steel capacity to Brazil

People's Daily Online reported that China is planning to transfer 10 million tonnes of steel capacity to Brazil and several large domestic steel companies including Ansteel, Masteel, Baosteel and Wuhan Iron and Steel have all expressed interest

Mrr o Zhang Shengsheng, general manger of an investment company, said the move will not only help to cut steel overcapacity in China, it will also help avoid the anti-dumping and anti-subsidy trade investigation that has been launched by Western countries against China

The Brazilian government looks forward to the new project, which will boost local employment and increase tax revenue. In exchange, Brazil has agreed to provide 20 square kilometers of land for free. Legal proceedings are already underway.

Details of the project are still being discussed, including market demand, equipment and return on investment. If all goes according to plan, the project will not only meet Brazilian demand, but will also cover the needs of other South and North American countries, according to Xu Zhongbo, vice-president of the preparatory committee for the project.

Besides Brazil, India has also expressed interest in purchasing Chinese technologies and equipment, as was discussed during the 9th China International Steel Congress held in Beijing on May 16.

Source: People's Daily Online

voda 19 mei 2016 16:15

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Correctie: ArcelorMittal koopt schulden terug

Staalbedrijf lost voor ruim 410 miljoen dollar aan obligaties af.

ArcelorMittal heeft zijn schuldenlast met circa 410 miljoen dollar verlaagd via het vroegtijdig aflossen van obligaties. Dit maakte het staalbedrijf donderdag bekend.

Vorige week kondigde ArcelorMittal aan de obligatie, die loopt tot 1 juni 2019, af te lossen. Er stond 1,5 miljard dollar uit onder de lening.

Op een rood Damrak noteerde het aandeel ArcelorMittal donderdagochtend 4,3 procent lager op 3,99 euro.

Correctie: om correcte afgeloste bedrag te vermelden.

Copyright ABM Financial News. All rights reserved

(END) Dow Jones Newswires

voda 19 mei 2016 17:11

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potential buyers for Whyalla steelworks of Arrium - Report

AAP reported that Arrium's Whyalla steelworks has at least three potential buyers, the South Australian treasurer says. Tom Koutsantonis' revelation comes the week after Prime Minister Malcolm Turnbull committed to a joint commonwealth and state review of investment opportunities in the steelworks.

Mr Koutsantonis told state parliament “Time is critical to ensure Arrium and Whyalla can move out of this administration period into a brighter and more successful future.”

Federal Labor has said it would consider financial assistance for the troubled steelmaker if it won the July 2 election.

But opposition leader Bill Shorten said that did not mean a Labor government would prop up the company's day-to-day running costs. He said “If there's a particular proposal which will help turbocharge the company in terms of being able to win the contracts for the future, I think that's what governments are for, to help bridge the gap.”

Arrium went into voluntary administration in April following failed discussions with lenders for a funding deal amid sustained low commodity prices. Administrators are seeking to restructure the company, while mining group OzMinerals recently offered some assistance, signing a preliminary agreement with Arrium to share infrastructure, including a port to be used by a new copper concentrate treatment plant in Whyalla.

Source : AAP

Bijlage:

voda 19 mei 2016 17:12

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Congressman Visclosky secures Buy American steel requirements for military

NWI Times reported that US Congressman Pete Visclosky, D-Merrillville, again secured a requirement that the Department of Defense only buy American-made products, including steel. The House Appropriations Committee approved Visclosky's Buy American amendment to the Fiscal Year 2017 Defense Appropriations Act, which mandates the military only buy American-made steel for armor plate, mooring chains, ball bearings and engine components.

Mr Visclosky said "The strength of the American steel industry and the American manufacturing base are essential to the strength of our military forces. Steel direct from Northwest Indiana is used to build our aircraft carriers deployed around the world. We must continue to do all that we can to ensure that American taxpayer dollars are used to support American jobs and protect American service members."

The administration had been looking to remove Buy America requirements, but Visclosky stressed it was essential at a time when the domestic steel industry has been battered by an unprecedented glut of imports.

Source : NWI Times

voda 19 mei 2016 17:13

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Illawarra based Bisalloys positioned to supply steel for submarines

ABC reported that Illawarra-based Bisalloy Steel has advised the Australian Stock Exchange of an outstanding debt from the collapse into administration of South Australian steel producer Arrium Limited. The company said the collapse triggered a reduction in sales in the short term and the group has an outstanding debt which will result in a 15 to 20 per cent drop in earnings, compared to the previous financial year.

On the upside, Bisalloy held talks last week with the Australian Defence Department and DCNS, the French company building Australia's next fleet of submarines.

Bisalloy CEO, Greg Albert said the company was collaborating with the government concerning possible supply of speciality steel products for submarines, frigates and off-shore patrol vessels.

He said "We're the only ones that produce flat-rolled products, which means the plates.
We're the only ones which produce speciality steel, hardened quenched tempered, structural and defence grade, armour grade plate."

Mr Albert said his company had the capacity to modify steel from Bluescope's Port Kembla steelworks to meet long-term contracts.

The contract for 12 submarines to be build in South Australia is worth an estimated AUD 50 billion and is expected to generate 2,800 jobs. The Federal Government has also recently announced Adelaide shipbuilders would start the construction of 12 offshore patrol vessels in 2018 before starting on a fleet of frigates in 2020.

Source : ABC

voda 19 mei 2016 17:14

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Top 10 Chinese steel mills controlled 34% of total capacity at 2015 end

Reuters reported that MrTang Fuping, the chairman of Anshan Iron & Steel Group Corp, said on Monday, that China’s 10 largest steel mills controlled 34.2% of the country’s total capacity in 2016, well below a 60% target set by the government

Beijing had required the top steel mills to reach the 60 percent target by the end of 2015 in its 12th five-year plan, Tang said.

Mr Tang “Increasing concentration is one of the important conditions to ensure the sector’s healthy development, and the state has tried to drive consolidation. For a variety of reasons it has struggled to meet the targets.”

The largest 10 mills controlled 48.6% of total capacity at the end of 2010.

Source : Reuters

[verwijderd] 19 mei 2016 17:14

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kansloos topic

voda 19 mei 2016 17:14

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Argentinian steel production in Q1 dips by 17% YoY - CAA

Buenos Aires Herald reported that according to new data released by the National Chamber of Argentine Steel, steel production fell by 17.2 % in Q1 of 2016 signaling a regional crisis in the industry. Accumulated production in the first quarter of 2016 reached just over 1.3 million tonnes of steel.

Production of hot rolled steel finished in April falling by 9.5 percent from the same month last year, and by 4.5 percent since March, totalling 351,900 tons for the month as a whole.

Meanwhile, the smaller production of cold rolled steel production rose 19.6 percent on-year for April, and was also up 8.9 percent compared to March 2015, with a production of 136,400 tons.

CAA said “With the first quarter of 2016 concluded, the steel industry continues to face a complex scenario in the short term.”

It added that sweeping macro-economic factors currently affecting global and regional production and trade were a significant influence in explaining the dramatic drop in production during the first months of President Mauricio Macri’s tenure.

It said “The persistent decline in oil prices, coupled with a low demand for steel products in the domestic and export markets impacts adversely on sectorial activity.”

Source : Buenos Aires Herald

voda 19 mei 2016 17:15

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Rama Steel Tubes to quadruple steelpipe production capacity in 4 years

Business Standard reported that steel pipes and tubes manufacturer Rama Steel Tubes Ltd plans to quadruple its production capacity in three years to spread its wings across the country and serve regional customers in a cost effective manner. Operating currently from two locations, Rama Steel Tubes has a total production capacity of 99,000 tonnes which the company plans to increase to 340,000 tonnes by 2019-20 at an investment of INR 50 crore, excluding land value. The expansion is targeted in the value-added segment, commanding higher margins.

Started first phase of production in June 2015, the company is in the process to commence second phase of the production expansion from the existing 36,000 tonnes to 72,000 tonnes at its Khopoli, Maharashtra, plant by the end of June. In the third phase, Rama would be nearly doubling the capacity once again next year.

Mr Richi Bansal, CEO of Rama Steel Tubes, told BS “We have already bought land seven-eight years ago. So, land cost is not added to our proposed investment plan. However, investment would not be a constraint in case demand of steel pipes and tubes emerges.”

Source : Business Standard

voda 19 mei 2016 17:16

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UK steel workers set to march on May 25 to put pressure on UK government

ITV reported that hundreds of steelworkers are to stage a march in London to keep pressure on the UK government to help secure the future of their crisis-hit industry.
Workers from plants across the country will gather on May 25 before walking past Downing Street and Parliament.

The steelworkers will demand that the Government works to ensure a responsible sale of Tata Steel and deliver a proper industrial strategy to support the entire steel sector throughout the current crisis.

Mr Roy Rickhuss, general secretary of the Community union, said “This march will bring steelworkers to London to focus all our attention on delivering a clear message to government: save our jobs, support our communities and deliver the fantastic future for British steel making we know it can have.”

Source : ITV

voda 19 mei 2016 17:19

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Latvia faces EUR 50 million law suit from Liepajas Metalurgs owners

Xinhua reported that Latvia faces an international court action over its financially troubled KVV Liepajas Metalurgs steel company whose shareholders have failed to reach an agreement with the government on a mutually acceptable solution to the situation.

According to media reports, the struggling company's Ukrainian owners are going to lodge EUR 50 million lawsuit with a London court of arbitration, on the grounds the Latvian side did not provide them with full information when they were buying the insolvent metallurgical company.

The steelworks company, based in the southwestern Latvian port city of Liepaja, has ceased production and its owners have missed a number of payments, including to the Latvian government, as well as gas and electricity suppliers.

Latvian Economics Minister Arvils Aseradens said earlier this week that KVV Liepajas Metalurgs was showing signs of insolvency again. Mr Aseradens confirmed to reporters on Wednesday that Ukraine's KVV Group had warned of an international lawsuit against Latvia.He said "We need to exert caution.”

Liepajas Metalurgs was acquired by Ukraine's KVV Group in October 2014. Under the agreement, the Ukrainian company is expected to pay EUR 107 million for the Latvian metal working company in several instalments over the next 10 years. Liepajas Metalurgs was declared insolvent on Nov. 12, 2013 after the company ran into financial trouble and had to cease production in spring 2013 due to a shortage of working capital. Enditem

Source: Xinhua

voda 19 mei 2016 17:20

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JSW Steel in talks with Sandur Manganese for long-term iron ore supply pact

Reuters reporetd that JSW Steel Ltd has started talks with Sandur Manganese about a long-term iron ore supply agreement. These discussions are a part of the company's efforts to ensure iron ore availability for its 18 million tonnesteel capacity which is spread across three locations in India.

Mr Vinod Nowal deputy MD of JSW Steel told Reuters “We are going to have a long-term tie-up with them for supply of iron ore. They have a capacity of 1.6 million ronnes now, but they can reach up to 3 million tonnes. Discussions are still going on and we want to tie-up for the entire 3 million tonnes.”

A top ranking official from Sandur Manganese confirmed that it was in talks with JSW Steel but said no decision has been reached until now.

Source: Reuters

voda 19 mei 2016 17:21

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TMK to procure equipment for heat treatment facilities at Seversky Tube Works and TMK-ARTROM from SMS Meer

TMK, one of the world’s leading producers of tubular products for the oil and gas industry, and Italian SMS MEER S.p.A have signed contracts for the manufacture and supply of advanced equipment for seamless pipe heat treatment facilities to be built at Seversky Tube Works and TMK-ARTROM, Romania.

The scope of supply includes heating furnaces, tempering furnaces, quenching equipment – inside and outside spray systems, and a quench tank. Pipe sizing and straightening equipment, as well as closed-loop water treatment equipment will also be supplied by SMS under separate contracts.

The design capacity of heat treatment lines at TMK-ARTROM and Seversky Tube Works will be 165 thousand tonnes and 265 thousand tonnes of heat-treated pipes per year, respectively. The Romanian plant is already developing equipment specifications, with shipments starting towards the end of 2016. The line performance tests and start-up are scheduled for the second quarter of 2017. Site preparation and construction of power supply facilities at Seversky Tube Works are scheduled for 2016–2017. The new line performance tests and start-up are expected to take place in the first quarter of 2018.

“In 2014, TMK largely completed its capacity upgrade capex programme at the Company’s production facilities. Now we are shifting our focus to finishing operations – heat treatment, pipe finishing, coating and threading operations, which will add value to our finished products. The launches of state-of-the-art, high-capacity heat treatment facilities at the Russian and Romanian plants will help to improve product quality and expand the range of tubular products with enhanced performance,” said Alexander Klachkov, Deputy CEO and Chief Engineer of TMK.

Source: Strategic Research Institute

Vertraagd	14 jun 2024 17:36
Koers	21,820
Verschil	0,000 (0,00%)
Hoog	22,360
Laag	21,740
Volume	4.153.452
Volume gemiddeld	2.688.328
Volume gisteren	4.153.452

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