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voda 21 maart 2014 19:43

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TATA Steel Europe to be a beneficiary of Ukraine standoff - Citi Bank

TATA Steel shares saw profit taking after rising as much as 4.6%. TATA Steel shares gained on hopes that the geopolitical standoff between Russia and Ukraine would benefit the Indian steel maker.

Global investment bank Citi said that current diplomatic sanctions imposed on Russia could lead to economic sanctions which will directly impact trade relations between the European Union and Russia.

The European Union imports several commodities including steel, from Russia & Ukraine, so future sanctions may result in higher prices for these commodities.

Citi said that TATA Steel Europe would be a direct beneficiary in this scenario. As of, TATA Steel shares traded 2.3% lower at INR 348.40. The stock has underperformed Sensex by 20% YoY.

Source - NDTV

voda 21 maart 2014 19:45

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ThyssenKrupp invest USD 15 million coil processing facility opens in Woodstock

ThyssenKrupp Materials NA Inc recently opened 100,000 square foot carbon, stainless and aluminum coil processing and distribution service center in Woodstock, Alabama. TKMNA invested more than USD 15 million in the facility, just outside of the Birmingham metropolitan area and currently employs 20 full time positions. At full capacity, the facility will create nearly 45 full time jobs.

The new facility processes and distributes carbon steel, stainless steel and aluminum coil for TKMNA's customers across the southern United States. ThyssenKrupp Steel Services and Ken Mac Metals both divisions of TKMNA, occupy the facility. Currently, two cut to length lines and one 72 inch wide slitter process material through the facility. Poised for future growth, TKMNA's investment includes a surrounding property which will allow the facility to expand up to 250,000 square feet.

Mr Joachim Limberg CEO of Business Area Material Services of ThyssenKrupp AG said that "The America's region is the second largest region in our international materials business and is a key area for investment and opportunity with the recent resurgence of manufacturing throughout the country. This new facility is key to our global strategy and establishes a great, customer-focused location in the heart of America's manufacturing region."

Mr Hans Josef Hoss president and CEO of ThyssenKrupp Materials NA Inc said that "We are very excited for our company to grow in Alabama. This is an ideal location to strengthen TKMNA's footprint because the region has shown impressive manufacturing growth in recent years. The Woodstock facility allows for a much closer relationship with customers throughout the south and greatly enhances our supply chain effectiveness."

Mr Torsten Gessner president and CEO of ThyssenKrupp North America, Inc said that "ThyssenKrupp companies have been in Alabama for more than 14 years. The opening of the Woodstock coil processing facility is a continuation of the great partnership between ThyssenKrupp and the State of Alabama."

Source - Strategic Research Institute

voda 21 maart 2014 19:46

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US finds unfair subsidies in electrical steel from China and Taiwan

Reuters reporetd that imports of electrical steel from China and Taiwan are unfairly benefiting from government subsidies but those from South Korea are not.

The US Commerce Department said that non oriented electrical steels are silicon steels with magnetic properties, used for electric motors, generators and ignition coils.

The complaint was filed by AK Steel Corporation which said unfairly traded imports from China, Germany, Japan, South Korea, Sweden and Taiwan were causing material injury to the domestic industry.

Commerce has yet to rule on whether the products are being sold in the United States below fair market value. Subsidies were only an issue in China, South Korea and Taiwan.

Source - Reuters

voda 21 maart 2014 19:46

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German steel scrap prices remain under pressure - EUWID

According to the latest EUWID market survey, ferrous scrap traders had intended to put the difficult year 2013 behind them as quickly as possible and to focus on 2014. The year began well enough in January.

However, the first disappointment in February has been followed by another palpable price drop of about EUR 15 per tonne in March. Traders who sold early in the month had to make even greater concessions. However, market players believe prices may have bottomed out.

Upstream suppliers and demolition companies are obviously pursuing the same line of thought and have withheld supplies in anticipation of higher prices. Scrap recyclers' intake volumes are reportedly up to a third lower than normal.

In the case of new scrap, the inflow varies from region to region. Generally speaking, there is no evidence of the upbeat reports on the vibrant state of the German economy being reflected in new scrap arisings at the generators' sites.

Source - Recycling.com

voda 21 maart 2014 19:47

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China average daily steel output highest since mid Nov - CISA

Reuters reporetd that China produced an average of 2.097 million tonnes of steel a day in the first 10 days of March up 0.72% compared to late February and the highest since mid November but output from big mills declined markedly.

The China Iron and Steel Association said that output from its members larger steel mills hit 1.66 million tonnes over the period down 7.95% compared to late February indicating that China's larger mills are taking measures to reduce output in the face of severe oversupply high stockpiles and plunging prices.

But the overall increase in production over the period shows that smaller, private mills are continuing to ramp up output despite severe economic difficulties and efforts to shut polluting plants.

The association said that its price index for steel products was at its lowest since February 2006, with demand failing to keep up with a rapid increase in output.

CISA estimates total output based on the production figures from its members, which consist of more than 80 large and medium sized steel mills normally accounting for about 80 percent of total production.

Source - Reuters

voda 21 maart 2014 19:48

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EU's scrap exports fall in Jan-Nov 2013

According to statistics, the EU’s scrap exports totaled 15.157 million tonnes in the January to November period 2013 decreasing by 15.9% YoY.

In the given period of time, Turkey was the largest importer of the EU’s scraps with 9.288 million tonnes, falling by 9.6%; Egypt was the second largest one with 1.503 million tonnes, rising by 7.3%; India was the third largest one with 1.286 million tonnes, slumping by 49%, all compared to the figures in the same period of 2012.

At the same time, the EU imported 3.008 million tonnes of scraps, decreasing by 6.4% YoY. Among them, 826,000 tonnes were from Russia, decreasing by 18.6%; 660,000 tonnes were from Switzerland, rising by 10.5% and 301,000 tonnes were from Norway up by 2.8%, all compared to those in the same period of 2012.

Source - www.yieh.com

voda 21 maart 2014 19:49

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TATA Steel chief Mr Karl Kohler welcomes carbon tax relief

The decision by the Chancellor George Osborne in today’s budget to freeze the carbon tax has brought some welcome relief to the TATA Steel works in Scunthorpe.

Mr Karl Kohler MD and CEO of TATA Steel Europe said that "The Government's introduction of relief against the rapidly rising costs of carbon levies is very welcome. In particular, mitigation of the Renewables Obligation is a good step forward, as it poses a very real risk to Britain's foundation industries.”

Mr Kohler said that “We remain concerned that the mitigation being offered will not come into effect for two years and we will be urging the Government to investigate whether it can be introduced earlier. UK foundation industries are under real pressure and unilateral carbon levies are a significant factor restraining their ability to compete internationally."

Source - Scunthorpetelegraph.co.uk

voda 24 maart 2014 16:13

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Aperam advies omlaag naar neutral bij Credit Suisse - Market Talk

AMSTERDAM (Dow Jones)--Credit Suisse heeft het advies op Aperam (056997440.LU) verlaagd naar neutral van outperform, vanwege risico's gerelateerd aan antidumpingrechten in Brazilie. De analisten schrijven dat Aperam een unieke monopolie positie in Brazilie heeft op het vlak van roestvast staal en stellen dat marges daar hoger zijn dan in Europa vanwege het protectionistische beleid van de Braziliaanse regering op roestvast staal. Ze wijzen op het risico dat de antidumping maatregelen die momenteel gelden opgeheven kunnen worden, wat hevige gevolgen zou hebben voor de winstgevendheid van Aperam. Het koersdoel gaat omhoog naar EUR21 van EUR16. De analisten wijzen tevens op de recente koersstijgingen en stellen dat het opwaarts potentieel daardoor beperkter is geworden. Omstreeks 11.05 uur noteert het aandeel 2,0% lager op EUR18,17, terwijl de Midkap met 0,7% daalt. (LDF)

Dow Jones Nieuwsdienst: +31-20-5715200; amsterdam@dowjones.com

voda 24 maart 2014 16:13

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ArcelorMittal investeert EUR18 mln in Belgische staalfabriek

AMSTERDAM (Dow Jones)--ArcelorMittal (MT.AE) gaat EUR18 miljoen investeren om zijn staalfabriek in het Belgische Charleroi te vernieuwen.

De investering zal de fabriek in staat stellen om platen te produceren met een dikte van maximaal 355 millimeter en maximaal 2,2 meter lang. Er zullen 40 nieuwe banen ontstaan als gevolg van de uitbreiding.

- Door Levien de Feijter, Dow Jones Newswires; +31 20 571 52 00; levien.defeijter@wsj.com

voda 24 maart 2014 16:31

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China seeks more influence in setting iron ore prices

China Daily reported that China is making headway on a decade long program to create giant mining groups so it can play a bigger role in negotiating iron ore prices with more established rivals in the world.

The country plans to establish a large mining conglomerate focusing on iron ore extraction and smelting operations led by Liaoning based Ansteel Group, a large State owned iron and steel manufacturer, Beijing based China

Mr Shao Anlin deputy GM of Ansteel Group said that "Ansteel Group will acquire a number of mining enterprises to complete the integration work over the coming years and eventually possess an annual iron ore production capacity of 200 million metric tons in 2025."

In the meantime, up to eight large mining groups will also be integrated and established throughout China. Each individual group's production capacity of iron ore will exceed 30 million tonnes a year after a decade.

China is the world's fourth largest iron ore producer with more than 70 billion tonnes of resources. But the nation's dependence on foreign iron ore rose to 70% last year. The country's domestic steel industry has spent more than CNY 2 trillion on paying high prices for iron ore from the global market over the past 10 years.

To optimize the resources of domestic companies, the Ministry of Industry and Information Technology is working with related government departments and industry associations to draft a plan to restructure China's iron ore sector between 2016 and 2025. This document will be completed and submitted to the State Council by the end of this year.

Even though China produced 779 million tonnes of crude steel and 1.07 billion tonnes of steel products more than any other nation in 2013, its steel sector is weak because of the low quality of raw materials provided by domestic miners compared with the same products shipped from Australia or Brazil. Their prices are twice as high as Chinese iron ore.

Data from the General Administration of Customs showed that China's iron ore imports amounted to 820 million tonnes in 2013 up 10.2% from a year earlier. China produced 1.4 billion tonnes of iron ore in the same year.

According to a report by China Chamber of International Commerce released last year, The world's three biggest miners BHP Billiton, Rio Tinto Plc and Vale SA are China's main sources for imported iron ore. The companies have margins that have exceeded 50% over the past decade because they have sufficient capital support, advanced mining technology and a large number of rich mines in different continents.

Mr Ding Rijia a professor at the China University of Mining and Technology in Beijing said that "The disparity is clear. The production cost of Chinese companies is likely to rise because labor, equipment and cash flow are in short supply. It even costs more to dig new mines with rich iron ore deposits in China today."

Mr Ding said that Australian and Brazilian iron ore producers are likely to set their prices between AUD 120 and AUD 125 per tonne this year, which will savage Chinese iron ore enterprises. As a result, China will purchase more iron ore from major international sellers and produce less iron ore in its own marketplace.

Source – China Daily.com

voda 24 maart 2014 16:32

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China crude steel output up slightly in early March

According to data released by the China Iron & Steel Association, China’s daily crude steel output averaged 2.0968 million tonnes in March 1st to 10th period, rising by 0.7% from late February.

In the given period of time, CISA’s 86 member mills’ daily crude steel output averaged at 1.661 million tonnes, falling by 8% from late February.

As of March 10th, the steel stocks at CISA member mills totalled 409,000 tonnes rising by 2.5% from end February.

Source - SteelHome

[verwijderd] 24 maart 2014 17:08

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www.macrobusiness.com.au/wp-content/u...

voda 25 maart 2014 16:18

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ArcelorMittal advies omlaag naar reduce van hold - Market Talk

AMSTERDAM (Dow Jones)--Kepler verlaagt het advies voor ArcelorMittal (MT.AE) naar reduce van hold en verlaagt tevens het koersdoel naar EUR10,00 van EUR13,00, aangezien het concern volgens Kepler het meest kwetsbaar is voor wereldwijde groeirisico's. Omstreeks 9.20 uur noteert het aandeel 0,9% hoger op EUR11,30, terwijl de AEX met 0,8% stijgt. (PBU)

Dow Jones Nieuwsdienst: +31-20-5715200; amsterdam@dowjones.com

voda 25 maart 2014 16:35

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Appreciating Indian Rupee may tilt the balance in favor of steel imports

Gradual gaining INR has unruffled steel trade dynamics in India. Till recently Indian steel mills have been pursuing export aggressively with subdued domestic demand and parity advantage owing to weak INR.

However over the past 1 month INR has appreciated by 2% giving sudden tweak to the importers.

International flat steel price levels have remained flagging owing to imperceptible pick up in buying from Middle East and European nations. Currently HRC from CIS sources are around USD 570-580 per tonne, CFR, Mumbai, however the Chinese mills basking under depreciating CNY and mills eager to liquidate volumes in international market amidst plummeting domestic demand.

It is learnt that Chinese mills have been offering around USD 540-550 per tonne CFR, Mumbai. Giving them a huge advantage vis-à-vis other mills.

Domestic HRC price at Mumbai is INR 39600 per tonne (excl taxes).Thereby giving whopping parity advantage to import from China at INR 3144 per tonne. Import is imperative in such a scenario however import are not evincing much interest Many believe that the market will remain subdued due to less buying interests from consumers. The upcoming election is creating wave of uncertainties for the industry which is still struggling.

However with such a lucrative advantage it won’t be long before import starts unless the domestic mills reduce price levels in April by at least INR 1000-1500 per tonne. Ironically the Chinese mills have upped the heat in European and Middle East market with aggressive offers giving Indian mills tough time.

Source – Strategic Research Institute

voda 25 maart 2014 16:36

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Update on progress of Odisha steel project of POSCO

PTI reported that the wait for South Korean giant POSCO to start its Odisha steel project may get longer as the state government is not expected to transfer the required land to it till after the Lok Sabha polls are over in Mid-May.

The report quoted a source as saying that "There is no progress on the project as the state government has not transferred remaining 1,000 acres to POSCO. Now, considering the elections, we assume there is not going to be any development shortly."

A POSCO official said that "Acquisition of the balance 1,000 acre is ending with the state government. Renewal of Memorandum of Understanding is also pending with the state government."

The steel project had received initial clearance from the Environment Ministry in 2007 and final approval was granted in 2011. The National Green Tribunal, a quasi-judicial body, suspended the permit in March 2012 citing environmental concerns. However, in January it obtained the clearance with a condition that Posco must spend 5% of its total investment on enterprise social commitments, which will push up cost by USD 600 million.

During a review by the Steel Ministry this month to know the fate of major projects, POSCO had expressed inability to start work on the steel to port project at Jagatsingpur in the absence of adequate land.

Source - PTI

voda 25 maart 2014 16:37

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Indian steel prices to remain stable in April

Falling international steel prices, drop in domestic iron ore prices and recent appreciation in rupee that made imports attractive may force steelmakers to either cut steel prices or keep prices unchanged in April.

Steel manufacturers and distributors confirmed that after three consecutive price hikes since January, steel prices are unlikely to rise in April.

A spokesperson from Essar Steel said that "The input cost continues to remain firm. The price levels in India are in line with global prices and in some cases lower than import parity prices. The demand is stable. Hence the prices will continue to remain at present levels."

Mr RK Goyal MD of Kalyani Steels, too agreed that probability of steel prices remaining at current levels in April are high as demand continues to remain subdued. Another steel major having strong presence in southern and western India said that previous price increases were absorbed by the market but now the prices would remain stable.

An analyst said “Steel demand was likely to remain subdued going forward. Even after election if stable government forms at center, it will not immediately translate in to investment. Real effect of new government will start reflecting only after September, thus no major investment is seen in next six months at least.”

Steel prices across the globe, barring the US, have remained under pressure because of excess supply

Source – DNA

voda 25 maart 2014 16:42

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China rebar and iron ore slip as weak PMI weighs

Reuters reported that Chinese steel and iron ore futures dropped for a second session on Monday after weak manufacturing data added to signs of a slowdown in Chinese economy, which may curb its demand for the two commodities.

The most traded rebar for October delivery on the Shanghai Futures Exchange was down 0.7% at CNY 3,207 per tonne by midday. Iron ore for delivery in September on the Dalian Commodity Exchange eased 0.1% to CNY 734 per tonne.

Activity in China's factories slowed for a fifth straight month in March with a key index touching an eight month low, a preliminary private survey showed, raising market expectations that the government may provide stimulus measures to aid the economy.

Mr Wu Wenzhang president of Chinese industry consultancy SteelHome said that “China's economic restructuring will lead to slower growth in steel demand this year. We think Chinese demand for crude steel will rise 2% to 3% and about 5% for iron ore imports."

Demand for crude steel in China, the world's top consumer and producer, grew 7.1% last year and its imports of raw material iron ore gained 10.2%. China is enforcing reforms to drive an economic expansion that rely more on domestic consumption than investment.

Source – Reuters

voda 25 maart 2014 16:44

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Rio Tinto finds iron ore in Botswana - Chamber of Mines CEO

Bloomberg reported that Rio Tinto Group may have found huge deposits of iron ore in southern Botswana.

Mr Charles SiwawaCEO of the country’s chamber of mines said that “The discovery in an area called Werda is thought to be an extension of South Africa’s Sishen deposits which are mined by Anglo American Plc’s Kumba Iron Ore Limited.

Mr Siwawa said that “From the presentations they made to the Botswana government, there are huge iron ore deposits. They might have found a second Sishen. Rio Tinto, which has been working in Werda, near Botswana’s border with South Africa, for the past three years, will continue exploration work. Kumba’s Sishen mine produced almost 31 million metric tons of iron ore last year.”

He said that Rio Tinto is doing early stage iron ore exploration in Botswana. Future output from Rio Tinto’s find and Tsodilo Resources Limited’s Xaudum project in Ngamiland has the potential to surpass production from Botswana’s diamond-mining industry. The future of Botswana mining is going to be the coal and iron ore resources and of course diamonds,.

Source – Bloomberg

voda 25 maart 2014 16:45

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ArcelorMittal to expand automotive steel products in Brazil

It is reported that ArcelorMittal announced to invest about USD 15 million to produce advanced high strength steel for automobile industry at its facility in southern Santa Catarina State in Brazil.

In October of 2012, the Brazilian government approved by decree a new program to encourage vehicle technology innovation. ArcelorMittal’s project is in line with the program.

Source - www.yieh.com

voda 25 maart 2014 18:42

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Arcelor geeft EUR750 mln aan 5-jaarsleningen uit

AMSTERDAM (Dow Jones)--ArcelorMittal, 's werelds grootste staalproducent, kondigt dinsdag de uitgifte aan van vijfjaarsleningen, waarmee het bedrijf een bedrag van EUR750 miljoen beoogt.

De coupon op de leningen, die lopen tot 25 maart 2019, is vastgesteld op 3,00% en ArcelorMittal wil de opbrengst gebruiken voor algemene bedrijfsdoeleinden. De obligaties zijn onderdeel van het Euro Medium Term Notes-programma van het bedrijf.

Door Marleen Groen; Dow Jones Nieuwsdienst; +31 20 5715 200; marleen.groen@wsj.com

Vertraagd	14 jun 2024 17:36
Koers	21,820
Verschil	-0,380 (-1,71%)
Hoog	22,360
Laag	21,740
Volume	4.153.452
Volume gemiddeld	2.723.124
Volume gisteren	2.243.870

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