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voda 30 januari 2019 19:40

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Indian iron ore production set to top 201 million tonnes in 2018-19 – FIMI

Bloomberg News cited Mr RK Sharma, secretary general at the Federation of Indian Mineral Industries, as saying that iron ore production from India is forecast to reach a nine-year high as independent miners extract more of the steel-making material before the expiry of their leases next year. India is set to produce as much as 210 million tonnes in thee financial year ending March 31, the highest output since 2009-10, when it produced 219 million tonnes.

In 2020, independent iron ore miners must hand back their mines to the government for re-auctioning under India’s new mining policy, said Bloomberg News. “We are still analysing what will happen after 2020,” Sharma said.

Source : Mining MX

voda 30 januari 2019 19:41

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Vale appoints executive for Immediate Response Group

Vale has appointed Claudio Alves as the leader of the Immediate Response Group, a committee created on January 25th to consolidate emergency actions, of any nature, related to those affected by the Feijão Mine's dam breach, occurred last Friday.

The executive has just moved permanently to Belo Horizonte in order to expedite and intensify the efficiency of the actions taken in the region of Brumadinho, in Minas Gerais.

Claudio Vale has been working at Vale since 1992 and has been Director of the Department of Pelletizing and Manganese for the last two years. Vale reinforces that the company is totally focused on supporting the rescues to help preserving and protecting the lives of employees and local communities.

Source : Strategic Research Institute

voda 30 januari 2019 19:42

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Vale shares preliminary results of internal investigation with federal and state authorities

After the Feijão Mine's dam breach in Brumadinho, Vale's Legal team began the first phase of the internal investigation to determine the causes of the accident. Preliminary results were shared with federal and state authorities. Alexandre D'Ambrosio, Vale's General Counsel, said "Vale is the most interested party in determining the causes of the dam breach," states. "Even before the issuing of the arrest warrant, I have been to a meeting with the Federal and State Public Prosecutor's Office in Minas Gerais to reinforce Vale's commitment to the determination of the facts. We are fully available to provide the authorities with any information."

The company's director told that during the search and seizure of documents in the Águas Claras Mine, in Minas Gerais, state police requested the company permission to expand the proceeding to the Mutuca Mine, which was promptly arranged. It wasn't included in the warrant.

Still according to the Generak Counsel, "The orientation is and has always been that all employees collaborate, fully and unrestrictedly, with the authorities. My priority and that of the other Vale's Executive Board members is to do whatever possible to mitigate the suffering of those affected and their families."

Source : Strategic Research Institute

Bijlage:

voda 30 januari 2019 19:45

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Vale announces the decommissioning of all its upstream tailings dams

Vale SA informed that it has presented to the Brazilian authorities its plan to decommission all its dams built by the upstream method. The plan presented to the Brazilian authorities aims to de-characterize these structures as tailings dams in order to reintegrate them into the environment. Vale currently has 10 dams built by the upstream method, all of which are currently inactive. All of Vale’s dams present stability reports issued by external, independent and internationally respected companies.

Vale estimates that investments of around R$ 5 billion will be necessary to decommission its upstream dams and estimates that the decommissioning process will occur over the next 3 years.

In order to carry out the decommissioning of the upstream dams safely and quickly, Vale will temporarily halt the production of the units where the structures are located, namely: Abóboras, Vargem Grande, Capitão do Mato and Tamanduá operations, in the Vargem Grande complex; and the Jangada, Fábrica, Segredo, João Pereira and Alto Bandeira operations, in the Paraopeba complex, also including the stoppage of the Fábrica and Vargem Grande pelletizing plants. The operation of the halted units will be resumed as the decommissioning works are completed.

The estimated impact of the production stoppage is about 40 million tons of iron ore per year, including in this figure the pellet feed needed for the production of 11 million tons of pellets, an impact that will be offset by the increase in production of other systems of the company.

Vale expects to reallocate all its collaborators currently located in the operations that will be halted.

Source : Strategic Research Institute

voda 30 januari 2019 21:25

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AK Steel announces Q4 and full year 2018 financial results

AK Steel reported its financial results for the fourth quarter and full-year 2018.

Fourth Quarter 2018 Highlights

Fourth quarter 2018 net income of USD 33.5 million, or USD 0.11 per diluted share; adjusted net income of USD 48.0 million, or USD 0.16 per diluted share, compared to a loss in prior year fourth quarter

Fourth quarter 2018 adjusted EBITDA of USD 135.5 million, a 101% increase from the fourth quarter of 2017

Fourth quarter 2018 sales of USD 1,677.1 million, a 12% increase from the fourth quarter of 2017

Plans to close the largely-idled Ashland Works, where 230 people currently work, by the end of 2019 to increase utilization at its other U.S. operations; will offer employees open jobs at other facilities; expects more than USD 40 million in annual cost savings when complete

Full-Year 2018 Highlights
Full-year 2018 net income of USD 186.0 million, or USD 0.59 per diluted share; adjusted net income of USD 200.5 million, or USD 0.64 per diluted share, up 25% from 2017

Full-year 2018 adjusted EBITDA of USD 563.4 million, highest since 2008

Full-year 2018 sales of USD 6,818.2 million, a 12% increase from 2017

Mr Roger K Newport, Chief Executive Officer of AK Steel said that “We made good progress in 2018, generating our highest net income and adjusted EBITDA in a decade and further strengthening our balance sheet. Additionally, during the course of the year we expanded our portfolio of steel solutions, as our advanced steel operations accelerated collaboration with our downstream stamping, tooling and tubing businesses at Precision Partners and AK Tube. As we enter 2019, we are well positioned after the successful renegotiation of our annual customer contracts and expect another solid year.”

AK Steel reported net income of USD 33.5 million, or USD 0.11 per diluted share of common stock, for the fourth quarter of 2018. This compared to a net loss of USD 80.4 million, or USD 0.26 per diluted share, for the fourth quarter of 2017. As another step to strengthen its balance sheet, the company entered into a de-risking pension annuity transaction in the fourth quarter of 2018. As a result, the company incurred a pension settlement charge of USD 14.5 million. Excluding this charge, adjusted net income was USD 48.0 million, or USD 0.16 per diluted share. This compares to an adjusted net loss of USD 24.1 million, or USD 0.08 per diluted share, for the fourth quarter a year ago. Included in reported results in the year ago fourth quarter were non-cash charges for asset impairments and a credit for the benefit of a transportation agreement reached in the fourth quarter of 2017.

The company’s adjusted EBITDA (as defined in the “Non-GAAP Financial Measures” section below) was USD 135.5 million, or 8.1% of net sales, for the fourth quarter of 2018, more than double the adjusted EBITDA of USD 67.4 million, or 4.5% of net sales, for the fourth quarter a year ago. Higher steel selling prices and shipments during the fourth quarter, particularly to the distributors and converters market, more than offset higher costs for certain raw materials and supplies, including graphite electrodes, compared to the fourth quarter a year ago.

The company ended the fourth quarter of 2018 with total liquidity of USD 988.8 million, consisting of cash and cash equivalents and USD 941.8 million of availability under the company’s revolving credit facility. During 2018, the company reduced outstanding long-term debt by USD 116.4 million and its pension and other postretirement benefit obligations by USD 65.7 million.

Outlook
Beginning with calendar year 2019, the company is providing annual guidance and is no longer providing quarterly guidance. The annual guidance better aligns with how the company manages its business, as more than 70% of its business is now based on fixed base price contracts. For 2019, the company currently expects net income to be in a range of USD 160 to USD 180 million, or USD 0.51 to USD 0.57 per diluted share, and adjusted EBITDA to be in the range of USD 515 to USD 535 million. Below are key assumptions used in developing these ranges:

About 50% of adjusted EBITDA for 2019 is expected to be generated in the first half of the year. The timing of planned outages is expected to mostly offset the seasonal nature of our business.

The guidance is based on the average carbon hot rolled coil spot market price for the month of January of about USD 720 per ton. The company estimates that for every USD 10 change in the carbon hot rolled coil spot market price, adjusted EBITDA and net income would be impacted by approximately USD 5 to USD 7 million, on an annualized basis, taking into consideration the related effects on carbon scrap, but holding everything else constant. Historically, changes in carbon scrap costs have been strongly correlated to carbon hot rolled coil spot market price movements.

The company’s guidance excludes the effects of the Ashland Works charge expected to be recorded in the first quarter of 2019, as discussed above.

The company expects to make capital investments of between USD 170 and USD 190 million in 2019, which includes about USD 25 to USD 30 million of growth related investments for Precision Partners and AK Tube.

Assumptions on additional factors are included with the investor presentation slides on the company’s website. See information below for accessing the presentation slides.
The foregoing outlook is based on AK Steel’s current estimates and may change based on business conditions and other factors. There are many other items that could affect the company’s 2019 results, as outlined in the Forward-Looking Statements below, including developments in the domestic and global economies, in the company’s business, in trade actions and the imposition of tariffs, and in the businesses of the company’s customers, suppliers and competitors.

Source : Strategic Research Institute

voda 30 januari 2019 21:39

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Arcelor mag niet meedingen naar Bosnische mijn

Gepubliceerd op 30 jan 2019 om 20:34 | Views: 869

ArcelorMittal 17:35
20,29 +0,32 (+1,58%)

SARAJEVO (AFN/RTR) - De aanvraag van ArcelorMittal om mee te mogen bieden op een Bosnisch overheidsbelang in de ijzerertsmijn Ljubija is afgewezen om procedurele redenen. Voor het in Amsterdam genoteerde staalconcern is dat aanleiding om te waarschuwen voor de risico's rond de toekomst van de mijnbouw in het gebied.

Arcelor is eigenaar van een staalfabriek in de centraal gelegen Bosnische stad Zenica, waar ijzererts uit de mijnen van Prijedor in het noorden van het land wordt verwerkt. De regering van de autonome Servische Republiek in Bosnië heeft een belang van 64,9 procent in de nabijgelegen mijn van Ljubija. Die deelneming is te koop aangeboden. Arcelor had wel interesse, waar is zonder dat er een duidelijke reden bekend is gemaakt buitengesloten van het biedingsproces.

voda 31 januari 2019 12:52

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Nieuwe ecologische ramp dreigt door roodbruine modderstroom

De dambreuk bij een ijzerertsmijn vorige week in Brumadinho in Brazilië dreigt een nog grotere ecologische ramp te worden. Een stroom modder en ijzerhoudend afvalwater is mogelijk via vertakkingen op weg naar de belangrijke Sao Francisco rivier waaruit honderden dorpen en steden hun drink- en irrigatiewater pompen.

Buitenlandredactie 31-01-19, 09:00
1
De autoriteiten in het zuidoosten van Brazilië zijn bezig om erger te voorkomen, terwijl nabestaanden treuren om de 84 doden die zijn geborgen en de families van 276 vermisten in grote angst en onzekerheid leven. Op de route van het zwaar vervuilde water ligt de stad Petrolina met 350.000 inwoners.

De hoop is gevestigd op een dam in de Paraopeba rivier. Daar moet het vuile water voor schoonmaak worden gescheiden in de reservoirs van de dam. ,,Veel mensen stroomafwaarts zijn ervan afhankelijk dat hun rivier blijft leven'', aldus Carlos Rittl, directeur van een milieuorganisatie in de buurt. Volgens berekeningen arriveert het water tussen 5 en 10 februari bij de dam.

Wanhoop nabij
De roodbruine modder stroomt met een snelheid van een kilometer per uur en vernietigt onderweg al het leven in de rivier. Vissen en waterplanten sterven massaal. Indiaanse stammen in het gebied zijn de wanhoop nabij. ,,We waren gewend in de rivier te vissen, ons te wassen, het water te halen voor de irrigatie. Dat kan allemaal niet meer", aldus dorpschef Hayo tegen het persbureau AP.

De woede richt zich op het mijnbouwbedrijf Vale dat verantwoordelijk is voor de ramp en al eerder voor doden en vervuiling zorgde.

www.ad.nl/buitenland/nieuwe-ecologisc...

[verwijderd] 31 januari 2019 14:18

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quote:
voda schreef op 30 januari 2019 21:39:
Arcelor mag niet meedingen naar Bosnische mijn

Gepubliceerd op 30 jan 2019 om 20:34 | Views: 869

ArcelorMittal 17:35
20,29 +0,32 (+1,58%)

SARAJEVO (AFN/RTR) - De aanvraag van ArcelorMittal om mee te mogen bieden op een Bosnisch overheidsbelang in de ijzerertsmijn Ljubija is afgewezen om procedurele redenen. Voor het in Amsterdam genoteerde staalconcern is dat aanleiding om te waarschuwen voor de risico's rond de toekomst van de mijnbouw in het gebied.

Arcelor is eigenaar van een staalfabriek in de centraal gelegen Bosnische stad Zenica, waar ijzererts uit de mijnen van Prijedor in het noorden van het land wordt verwerkt. De regering van de autonome Servische Republiek in Bosnië heeft een belang van 64,9 procent in de nabijgelegen mijn van Ljubija. Die deelneming is te koop aangeboden. Arcelor had wel interesse, waar is zonder dat er een duidelijke reden bekend is gemaakt buitengesloten van het biedingsproces.

smerige mijnen en hoogovens in een prachtige natuur.
Daar heeft Arcelor niets te zoeken.

voda 31 januari 2019 16:47

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Beursblik: Goldman verlaagt koersdoel Aperam stevig

FONDS KOERS VERSCHIL VERSCHIL % BEURS
Aperam
26,65 0,01 0,04 % Euronext Amsterdam

(ABM FN-Dow Jones) Goldman Sachs heeft donderdag het koersdoel voor Aperam verlaagd van 44,00 naar 31,50 euro met een onveranderd Neutraal advies.
?
Afgelopen jaar stonden de prijzen voor roestvast staal in Europa onder druk, gaven de analisten van Goldman aan. De voorraden waren hoog als gevolg van de toegenomen import, de toeslagen daalden, en de vraag was zwakjes. De prijsdruk zal op korte termijn volgens de bank vermoedelijk aanhouden. Dit zal de winstontwikkeling in het eerste kwartaal raken, voorspelden de analisten.

Maatregelen van de Europese Unie zullen het probleem van de stijgende importen echter tegengaan, aldus Goldman. En ook de prijzen zullen hiervan profiteren.
?
Een punt van zorg noemden de analisten Indonesië. Het land ontloopt maatregelen van de Europese Unie omdat het tussen 2015 en 2017 niet veel naar Europese exporteerde. Deze overweging van Brussel kan het herstel in Europa mogelijk vertragen, waarschuwde Goldman.
?
Het aandeel Aperam won donderdag 0,5 procent en steeg naar 26,77 euro.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved.

voda 31 januari 2019 16:49

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Beursblik: Goldman haalt ArcelorMittal van kooplijst

FONDS KOERS VERSCHIL VERSCHIL % BEURS
ArcelorMittal
20,21 -0,08 -0,39 % Euronext Amsterdam

(ABM FN-Dow Jones) Goldman Sachs heeft donderdag het advies voor het aandeel ArcelorMittal verlaagd van Kopen naar Neutraal en paste het koersdoel neerwaarts aan van 35,50 naar 22,50 euro.

Ook verloor het aandeel daarmee zijn plek op de favorietenlijst van de Amerikaanse bank.

De analisten verlaagden vanwege lagere staalprijzen en een terugval van de vraag in de belangrijkste staalmarkten hun ramingen voor de EBITDA voor dit jaar met 22 procent en met 20 procent voor 2020.

Volgens Goldman zijn er andere aandelen in de sector die meer kansen bieden.

Het aandeel ArcelorMittal steeg donderdag 0,2 procent naar 20,33 euro.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved.

voda 31 januari 2019 19:37

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Trump Trade War - India likely to defer retaliatory tariff against US

Financial Express reported that India will likely defer its plan for a fifth time to impose retaliatory tariff worth close to USD 235 million on 29 American products, in response to the Trump administration’s extra levy on supplies of steel and aluminium. Sources told FE that the government could postpone the tit-for-tat action by 30-45 days from the revised deadline of January 31. According to sources, as part of the trade package, while a waiver from the extra duties on the metals is still being pushed hard by New Delhi, among others, the US wants India to remove price cap on bioresorbable stents and remove or substantially prune the import duties on key ICT products, including high-end mobile phones and smart watches.

Last year, the US had slapped an additional 25% duty on steel and 10% on aluminium supplies from countries including India. New Delhi had initially planned to impose the retaliatory tariff from August 4 last year. The repeated deadline extension suggests New Delhi is willing to engage Washington further for a meaningful outcome to the ongoing negotiations.

New Delhi’s latest move comes at a time when both the countries are engaged in negotiations to firm up a mutually-acceptable trade package. It is expected to keep a tariff war between the two countries from flaring up, at least temporarily. Washington already raised the stake in its trade war against Beijing by announcing extra tariff on around 6,000 Chinese goods worth $200 billion in December.

Source : Financial Express

voda 31 januari 2019 19:39

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Tata Tiscon achieves 100pct roll out of a superior grade of steel with Super Ductile rebar

In the wake of a booming construction market in India, players in the category are continuously riding on the innovation and technology game and Tata Steel-owned rebar brand Tata Tiscon is at the forefront of all the action. The largest selling rebar brand in India changed the paradigm in construction steel with the launch of its latest grade of steel called SD – super ductile rebar and now completes 100% roll out in India. Over the last few years, Tata Tiscon has covered the geographies in North, East and West. With the recent launch of Tata Tiscon SD in South, the product is now available across all authorised dealers of Tata Tiscon pan-India. With the 100% roll out of SD across over 7000 dealer points, Tata Steel aims to enhance its current market share thereby further consolidating its leadership position in the India.

Mr Sanjay S Sahni Chief Marketing & Sales, Branded Products & Retail, Tata Steel said that “As champions of progress and advancement, our endeavour is always to offer world-class products to our Indian customers. With 100% roll out of Super Ductile rebar, brand Tiscon, yet again, puts India at par with international construction practices."

The new product has replaced the earlier existing product TISCON 500D. The Product SD stands for Super Ductile, which promises higher Strength and Flexibility. These rebars are produced through special chemistry with higher control over Carbon, Sulphur, Phosphorous and other alloying elements and post rolling treatment, which gives more energy absorption capacity to structure and a higher evacuation time in the event of earthquakes and other natural calamities.

Tata Tiscon SD rebars guarantee more than basic characteristic strength as per BIS 1786. It offers superior properties with respect to percentage elongation, UTS/YS Ratio and are in line with international norms of ‘High Ductile’ specialty bars.

Mr Sarvesh Kumar, Chief of Marketing, Branded Products & Retail, Tata Steel said that “Establishing a brand identity for SD has been a daunting marketing task, especially because the category is a cluttered one with every brand riding on the power of celebrities. At Tata Steel, we always believed our product to be the ‘biggest celebrity’, hence rolled out a differentiated communication campaign that not only highlights the special features of the upgraded product but also creates a memorable visual identity for the brand with the ‘SD Man’, a popular term developed by word of mouth."

Rebar is one of the most important components of building material during construction. An individual home builder, for the construction of his house, purchases the building material from the dealer outlets in the market. Tata Tiscon SD is being sold through authorised dealer outlets pan-India.

With standard construction practices as per BIS 456, Tata Tiscon SD ensures superior mechanical and chemical properties over ordinary rebars. Higher ductility ensures that the concrete cover does not get peeled off and the rebars are not exposed. The higher elongation property of Tata Tiscon SD rebars ensures more time for residents to leave the structure in case of earthquake due to its extra ability to withstand load and, therefore, there is none or minimal deformation.

Source : Strategic Research Institute

voda 31 januari 2019 19:39

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Jindal Stainless (Hisar) Limited reports Q3FY19 results

Jindal Stainless (Hisar) Limited announced its financial result for the third quarter of FY 19. Revenue during the quarter remained flat at INR 2,233 crore compared to INR 2,229 crore in Q2FY19. Continuously falling Nickel prices impacted profit after tax (PAT) in Q3 on account of inventory losses. PAT declined from INR 62 crore to INR 55 crore, registering a drop of 11% in Q3FY19 compared to Q2FY19. As Nickel prices declined from the second to the third quarter, the markets witnessed continued destocking. Contrary to the expectations of a festive season, demand from major segments like automobiles and consumer goods slowed down during the quarter.

JSHL further strengthened its foray into Defence & Aerospace segment and is continuously working to develop and supply special alloys for various strategic applications viz. Submarine Rocket Launchers, Armored Vehicles, Mine Trawls etc. JSHL recently received a prestigious order of special steel sheets from ISRO for Rocket Motor Booster Application (Satellite Launch Vehicle). This is the first time India when ISRO has procured from an indigenous source, which involves rigorous qualification processes.

MD Mr Abhyuday Jindal said “Though the overall demand for stainless steel remained intact, off-take in certain segments, such as automobiles, temporarily slowed down. Combined with falling Nickel prices, there was continued destocking in the third quarter. However, we were able to maintain our revenues by focusing on Special Products Division. In the subsequent quarters, we expect a market rebound, given the stable outlook for Nickel prices and bottoming out of inventory stocks. By and large, the stainless steel industry is under stress of subsidized imports; several MSMEs are therefore turning unviable. I’m hopeful that the government will review its policies to provide a fair playing field to domestic players.”

Source : Strategic Research Institute

voda 31 januari 2019 19:40

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Nucor announced 2018 record earnings

Nucor Corporation announced record consolidated net earnings of USD 2.36 billion, or USD 7.42 per diluted share, for 2018 compared to USD 1.32 billion, or USD 4.10 per diluted share, for 2017. The new earnings record of USD 7.42 per diluted share in 2018 is a 24% increase as compared to the Company's previous record earnings of USD 5.98 per diluted share reported in 2008.

Nucor reported consolidated net earnings of USD 646.8 million, or USD 2.07 per diluted share, for the fourth quarter of 2018. By comparison, Nucor reported consolidated net earnings of USD 676.7 million, or USD 2.13 per diluted share, for the third quarter of 2018 and USD 383.9 million, or USD 1.20 per diluted share, for the fourth quarter of 2017. Consolidated net earnings of USD 646.8 million reported in the fourth quarter of 2018 represents the strongest fourth quarter performance in the Company's history.

Mr John Ferriola, Nucor's Chairman, Chief Executive Officer and President said that "The best way to sum up 2018 is this - it was a record year for Nucor. We posted record earnings per share and record revenue, and we shipped a record amount of steel. Over the past decade, we have been positioning Nucor to take full advantage of an upturn in the steel market. During that time, we invested more than USD 9 billion to increase the Company's peak earnings power. These investments enhanced our competitive strengths by building on our product diversity and market leadership positions. Our 2018 financial results demonstrate that Nucor's disciplined strategy of investing for profitable growth is working."

In the first quarter of 2018, the Company began reporting its tubular products and piling businesses as part of the steel products segment. These businesses were previously included in the steel mills segment. All prior period segment data presented in this news release has been recast to reflect this change. Earnings (loss) before income taxes and noncontrolling interests by segment were as follows for the fourth quarter and full year 2018 and 2017 (in thousands):

Financial Review
For 2018, Nucor's consolidated net sales increased 24% to USD 25.07 billion, compared with USD 20.25 billion for 2017. In 2018, Nucor posted its highest consolidated sales in the Company's history, surpassing Nucor's previous record by 6%. Total tons shipped to outside customers in 2018 were 27,899,000, an increase of 5% from 2017, while average sales price per ton increased 18%.

Nucor's consolidated net sales decreased 7% to USD 6.30 billion in the fourth quarter of 2018 compared with USD 6.74 billion in the third quarter of 2018 and increased 24% compared with USD 5.09 billion in the fourth quarter of 2017. Average sales price per ton decreased 2% compared to the third quarter of 2018 and increased 21% compared to the fourth quarter of 2017. Total tons shipped to outside customers were 6,687,000 tons in the fourth quarter of 2018, a 5% decrease from the third quarter of 2018 and an increase of 2% from the fourth quarter of 2017. Total fourth quarter steel mill shipments decreased 6% from the third quarter of 2018 and increased 2% from the fourth quarter of 2017. Fourth quarter downstream steel products shipments to outside customers decreased 10% from the third quarter of 2018 and decreased 1% from the fourth quarter of 2017.

Third quarter 2018 results included a non-cash impairment charge of USD 110.0 million, or USD 0.26 per diluted share, related to our proved producing natural gas well assets. Also included in the third quarter of 2018 earnings was a benefit of USD 24.8 million, or USD 0.06 per diluted share, related to insurance recoveries. Fourth quarter of 2017 results included a net benefit of USD 175.2 million, or USD 0.55 per diluted share, related to the impacts of U.S. federal tax legislation enacted in the fourth quarter of 2017.

The average scrap and scrap substitute cost per gross ton used in the fourth quarter of 2018 was USD 359, a 4% decrease compared to USD 374 in the third quarter of 2018 and a 13% increase compared to USD 317 in the fourth quarter of 2017. The average scrap and scrap substitute cost per gross ton used for the full year 2018 was USD 361, an 18% increase from USD 307 for the full year 2017.

Overall operating rates at our steel mills decreased to 88% in the fourth quarter of 2018 as compared to 92% in the third quarter of 2018 and increased compared to 82% in the fourth quarter of 2017. Steel mill operating rates for the full year 2018 increased to 91% as compared to 86% for the full year 2017.

Total steel mill energy costs in the fourth quarter of 2018 increased approximately USD 2 per ton compared to the third quarter of 2018 and increased approximately USD 1 compared to the fourth quarter of 2017. The increases from the third quarter of 2018 and fourth quarter of 2017 were mainly due to higher natural gas unit costs. Energy costs for the full year 2018 decreased approximately USD 1 per ton from the full year 2017 mainly due to lower unit costs for natural gas.

Our liquidity position remains strong with approximately USD 1.4 billion in cash and cash equivalents as of December 31, 2018 and an untapped USD 1.5 billion revolving credit facility that does not expire until April 2023.

During the fourth quarter of 2018, Nucor repurchased approximately 8.4 million shares of its common stock for an average price of USD 60.19 per share. At December 31, 2018, Nucor had approximately 305,591,000 shares outstanding and approximately USD 1.5 billion available under its share repurchase program.

Source : Strategic Research Institute

voda 31 januari 2019 19:43

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Tata Steel BSL announces Q3results

Standalone quarterly numbers for Tata Steel BSL Limited are

Net Sales at INR 4,888.54 crore in December 2018 up 10.91% from INR 4,407.71 crore in December 2017

Quarterly Net Loss at INR 239.56 crore in December 2018 up 85.09% from INR 1,607.06 crore in December 2017

EBITDA stands at INR 1,041.95 crore in December 2018 up 69.34% from INR 615.31 crore in December 2017.

Source : Strategic Research Institute

voda 31 januari 2019 19:44

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ArcelorMittal submitted new design HQ following criticism from mayor

Luxtimes reported that ArcelorMittal, the world's largest steelmaker, is submitting a new design for its global headquarters in Kirchberg after the mayor of Luxembourg City criticised the building of being too imposing. The building is expected to be ready next year but construction works are yet to begin on a 7,273 square metre site near the Philharmonie.

Source : Luxtimes lu

Bijlage:

voda 31 januari 2019 19:45

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Posco posts USD 4.4 billion in operating profit for 2018

Korea Herald reported that steelmaker Posco’s operating profit surpassed KWR 5 trillion (USD 4.4 billion) for the first time in seven years. Posco said it posted KWR 64.9 trillion in sales, KWR 5.5 trillion in operating profit and KWR 1.8 trillion in net profit last year. Its sales rose 7.1% and its operating profit jumped 19.9% YoY. The growth was mainly driven by record-high profits from an Indonesia-based steel mill, PT Krakatau Posco, and India-based production plants for car steel sheets, Posco Maharashtra Steel, the firm explained.

Its affiliates, Posco Daewoo, Posco Engineering & Construction and Posco Chemtech, also saw good performances in the trade, construction and secondary-battery businesses respectively

The outlook for this year may be bleak due to growing protectionism and a slowdown in construction and automobiles. Posco seeks to focus more on new sectors, including secondary batteries, amid growing demand for electric cars in the global market.

This year, Posco set the goal of achieving 66.3 trillion won in sales, setting aside 6.1 trillion won for new investments, up from 3.4 trillion won last year. By 2021, it aims to achieve sales of 2 trillion won in its new business segment.

Source : Korea Herald

voda 31 januari 2019 19:45

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Hoa Phat 2018 steel export surges

VNA reported that Hoa Phat Corporation announced on January 29 that its steel products are now available in 14 countries with a total export volume of nearly 240,000 tonnes in 2018, up 50.97 percent annually. Steel pipes recorded a surge of nearly 70 percent annually. Its total revenue hit 56.5 trillion VND (2.4 billion USD), up 21 percent from 2017. Notably, its post-tax profit rose to an all time high of 8.6 trillion VND, surpassing its target by 7 percent year-on-year.

In the fourth quarter, the corporation earned about 14.5 trillion VND in revenue and 1.76 trillion VND in post-tax profit.

Construction steel, steel pipes, and plated metal sheets made up 85 percent of its revenue and post-tax profit. Hoa Phat sold a record of more than 3.16 million tonnes of steel, up 5.3 percent from 2017, including 2.37 million tonnes of construction steel and 654,000 tonnes of steel pipe.

Construction steel accounted for 23.8 percent of the market share, and steel pipes, 27.5 percent.

Interior decor, refrigeration appliances, and construction equipment all maintained stable growth.

In real estate, Hoa Phat handed over a majority of the apartments in Mandarin Garden 2 and 70 Nguyen Duc Canh projects since the end of last year, and actively started a project on Pho Noi urban area in the northern province of Hung Yen.

Source : VNA

voda 31 januari 2019 19:46

0

Pakistan Agha Steel marks yet another milestone

The Nation reported that Agha Steel Industries Limited recently marked yet another milestone and announced the Go Live Implementation of Pakistan’s First end-to-end Fiori enabled SAP S/4 HANA on cloud in partnership with Ernst & Young. The objective of implementing the SAP project was to integrate business processes across its operations to create functional alignment and generate efficiency benefits in addition to laying the foundation for digitalization in the company.

This end-to-end driven technology elevates the quality precision to the highest level by producing large production volumes without any human error fully in line with global best practices of steel industry.

Source : Strategic Research Institute

voda 31 januari 2019 19:46

0

Indian steel sector to reap consolidation benefits - Ind-Ra

India Ratings and Research (Ind-Ra) has maintained a stable outlook on the steel sector for FY20 in view of robust domestic steel demand, moderate imports and calibrated supply increases, which will aid in sustenance of healthy margins over FY20. Although global trade frictions and waning ,steel demand from China could moderate margins over 2019, softening raw material prices and anti-dumping duties will provide necessary protection to the margins.

FY20 will be the second consecutive year of increasing domestic demand surpassing new supplies in the domestic market. However, in FY20, increased risks on moderating global demand, including that of China, and tightening of global monetary environment would have a negative bias on the domestic prices, despite favourable domestic demand-supply balance.

The sector underwent consolidation and steel producers improved their balance sheets in FY18-FY19, supported by healthy cash flow from operations and progressive debt repayments. Moreover, steel producers are in a better position to spend towards capex and stressed asset acquisitions, which may lead to increased debt and refinancing requirements.

The agency believes stimulus programmes in China have the potential to alleviate increasing risks for steel demand due to global trade tensions and tightening of monetary policies in most of the developed markets.

Ind-Ra notes that the risks on raw materials’ availability and prices could also increase as some of the captive and merchant mines would go for auction over FY20 with their licenses expiring by March 2020.

Source : Strategic Research Institute

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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