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voda 13 juni 2019 16:01

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Tata Steel Ltd update on European Commission decision against JV with Thyssenrupp AG

Tata Steel Ltd has provided updates on Feedback from European Commission on the proposed steel joint venture between thyssenkrupp and Tata Steel in Europe. It said “The European Commission on June 11, 2019, formally announced its decision to prohibit the proposed European steel joint venture between Tata Steel Limited and thyssenkrupp AG. Both companies, in statements on May 10, 2019, anticipated that the European Commission would not clear the proposed joint venture despite both parties offering a comprehensive package of remedies addressing the concerns of the Commission. Tata Steel noted with deep disappointment the conclusions of the Commission.”

It added “The Company remains committed to its long-term strategy of focusing on growth in India, continue deleveraging its Balance Sheet and working towards creating a sustainable portfolio in Europe.”

Source : Strategic Research Institute

voda 13 juni 2019 16:02

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Fujian Luoyuan Minguang Orders Section Mill From SMS Group

Fujian Luoyuan Minguang Iron and Steel Co Ltd in Luoyuan County, member of the Sangang Group China, has awarded SMS group GmbH the order to supply a new section mill for parallel flange beams up to 750 millimeters web height. The new section mill will enable Fujian Luoyuan Minguang Iron and Steel to broaden their product portfolio and to respond to the high demand for beams in the region and in the People's Republic of China. The section mill will be designed for an annual capacity of 1.3 million tons and equipped with a state-of-the-art breakdown stand and the latest-generation CCS® universal mill stands in reversing tandem arrangement, featuring hydraulic adjustment systems and automatic quick program change. The new CRS® roller straightening machine, which is also equipped with hydraulic adjustment systems ensures minimal program change time as well as best straightness and minimal residual stress level of the finished products.

Furthermore, SMS group’s scope of supply includes the technology and engineering for the entire rolling mill, the supply of hot and cold saws, the PROGAUGE in-line profile gauge with surface defect detection (SurfTec) and other mechanical key components. The supply will be complemented by the basic automation for the rolling mill as well as electrical main and auxiliaries drives.

The supervision of erection and commissioning as well as the commissioning of the electrical equipment and automation will be done by SMS group. The theoretical training of the customer’s personnel will be held in SMS group training center in Mönchengladbach. Further practical training will be provided at site during erection and commissioning by SMS group.

The technological know-how, the proven top equipment and the commissioning expertise were factors in the customer’s decision to select SMS group as partner for this strategic project. Hot commissioning is scheduled for second half of 2020.

Source : Strategic Research Institute

voda 13 juni 2019 16:03

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NCLAT Rejects CoC Plea Seeking Early Disposal Of Bhushan Power and Steel

BarandBench reported that National Company Law Appellate Tribunal has rejected an appeal made by the Committee of Creditors of debt ridden Bhushan Power and Steel seeking the early disposal of the corporate insolvency resolution process by the Adjudicating Authority, National Company Law Tribunal New Delhi. Rejecting the CoC’s appeal, a three-member Bench of the NCLAT headed by Chairperson, Justice SJ Mukhopadhyay stated that in absence of any order passed by the NCLT, it was not inclined to entertain this Appeal.

The plea was filed to speed track the process in the matter after the NCLT had reserved its judgement on the approval to JSW Steel’s resolution plan for Bhushan Power and Steel on April 23.

Source : BarandBench

voda 13 juni 2019 16:12

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Primetal Technology Founding CEO Mr Yasukuni Yamasaki Passes Away

Primetal Technology announced the demise of Founding CEO Mr Yasukuni Yamasaki. The funeral ceremony is scheduled on Thursday, 13th in Tokyo, Japan. Mr Satoru Iijima, Chairman of the Board and CEO Primetals Technologies, said “It is very hard to believe that both myself and our team members were with him during a Shareholder's Committee Meeting held in Tokyo on June 4, in which he showed his energy and passion as usual. Looking back on his career, Yamasaki-san devoted most of his long career to the metals machinery businesses with energy and passion at Mitsubishi Heavy Industries, Mitsubishi-Hitachi Metals Machinery and Primetals Technologies since he joined MHI in 1973. All who worked with him will appreciate that he was such a honest, open and warm-hearted person, admired by everyone for his passion and fascination for the metals machinery. He really loved the metals industry, Primetals Technologies and our people. As CEO at the foundation of Primetals Technologies, Yamasaki-san was dedicated to making his company the sustainable market leader in the metals industry.”

He said “We should all honour his memory by dedicating ourselves to continuing to work to make his aspiration come true. Thank you, Yamasaki-san, and may you rest in peace.”

Source : Strategic Research Institute

voda 13 juni 2019 16:13

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Schoeller Werk Invest In New Sawing Centre

Schoeller Werk is constantly upgrading its machinery to continue meeting the permanently growing demand for longitudinally welded or redrawn stainless steel tubes now and also in the future. The new high performance sawing centre by Rattunde is specially rated to the high demands of the automotive industry. The system is deployed particularly for producing conduit and fuel tubes made of stainless steel. Schoeller Werk uses the system to process tubes of diameters between eight and ten millimetres.

The highlight of the new high performance sawing centre is the integrated system for machining and checking tube ends. A high performance saw cuts the tubes and then brings them to the tube end machining centre with test and monitoring section. This is followed by a double wash with drying and fully automatic packing. All process steps are consolidated in a brief cycle in one cell for producing large quantities in the shortest possible production time. The new high performance sawing centre adds end machining to the value creation chain at Schoeller Werk. As a result, the company now supplies all necessary machining steps together with longitudinally welded stainless tubes, all from a single source.

Source : Strategic Research Institute

voda 13 juni 2019 16:16

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AP Government To Establish Steel Plant In 6 Months - Deputy Chief Minister

Hans News Service reported that Andhra Pradesh deputy Chief Minister Mr SB Amzath Basha said the YSRCP government is keen on establishing steel plant in the district for providing employment to local youth. Mr Basha said that the State government is planning to perform foundation stone laying ceremony in the next six months and production is proposed to begin within two years.

The Minister mentioned 75% of local youth would be provided jobs in the steel plant. Responding to a question over industrial development in the district.

Source : The Hans India

voda 13 juni 2019 16:17

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GMS Market Commentary on Shipbreaking in Pakistan in Week 22 - DEPRIVED!

Another week of expectedly no sales and virtually no activity has crept by once again in Pakistan, which is hardly surprising given the ongoing Eid holidays this week. However, this has been the trend for a greater part of the last 8 months in Gadani. Steel mills have started to shutter and local yards are deprived of tonnage. Even with the one or two smaller tugs that occasionally greet the waterfront on the off week, the supply of units has been miserable as local port position remains empty once again this week, thanks to the sheer unwillingness of Gadani Buyers to compete with their sub-continent counterparts.

Local fundamentals and in particular the currency (which has lost about 20% of its value over the last couple of declines) are to blame for the most part and it will take some turnaround to see Pakistan competing again on market tonnage this year.

Source : Strategic Research Institute

voda 13 juni 2019 16:18

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Shiloh Industries Reports Q2 Fiscal 2019 Results

Shiloh Industries, Inc a leading global supplier of lightweighting, noise, and vibration solutions to the automotive, commercial vehicle and other industrial markets reported financial results for its fiscal 2019 second-quarter ended April 30, 2019. Mr Ramzi Hermiz, president and chief executive officer said that "We made significant progress increasing our profitability as we continue to execute exciting new launches of products containing our innovative and leading technology. These launches provide Shiloh with recurring revenue streams and strengthen our product mix. We are also excited about our new business awards of approximately USD 300 million won in the first half of our fiscal year and remain optimistic despite market uncertainties. We expect our preemptive actions and restructuring initiatives will continue to mitigate market softness and contribute to our profitability. As we look toward the second half, we expect to deliver full year guidance and are raising the mid-point of our adjusted EBITDA range."

Second Quarter 2019 Highlights

Revenues were USD 273.4 million.

Gross profit was USD 28.7 million with a gross margin of 10.5%.

Net income was USD 1.1 million or 5 cents per diluted share.

Adjusted earnings per diluted share were 24 cents, consistent with the second quarter of 2018.

Adjusted EBITDA was USD 23.3 million, an increase of 14.8% YoY.

Adjusted EBITDA margin was 8.5%, an expansion of 170 basis points YoY.

2019 Outlook - Shiloh is maintaining its previously announced 2019 guidance for revenue to range from USD 1,000 million to USD 1,150 million and tightening the range of adjusted EBITDA to USD 65 million to USD 70 million from USD 62 million to USD 70 million.

Source : Strategic Research Institute

voda 13 juni 2019 16:19

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Privatization of Ajaokuta Steel Will Yield Better Results- Dr Vincent Nwani

Punch Nigeria reported that an expert has said privatization of Ajaokuta Steel Company will yield better dividends than the facility being run by the government. A business and investment consultant, Dr Vincent Nwani, pointed out that the government is not supposed to run business. He said that “Ajaokuta needs to be run as a business and not as a government agency or non-profit organization. It needs to be transferred to the private sector for proper management. The steel mills in Japan and other places worldwide are not run by the government but by private companies and they are very successful. The pending court case on Ajaokuta should be resolved and the facility should be given to private investors in a transparent and competitive manner.”

Mr Nwani emphasized that steel industry everywhere in the world was the bone of development. He said that “If our steel mill is well managed, it will service the local industry and save us huge foreign exchange spent on importation and there will be multiple benefits derived including job creation and economic development.”

Source : Punch Nigeria

voda 13 juni 2019 16:22

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GMS Market Commentary on Shipbreaking in Turkey in Week 23 – OFFLINE!

Like Pakistan and Bangladesh, it has been an extremely quiet week in Turkey this week, thanks to the country being off for Eid for all 5 working days. With steel mills closed and no movement on local steel plate prices, the Turkish currency at least registered some improvements as it now trades at a promising TRY 5.80 region against the US Dollar, retaining some hope for local Recyclers that perhaps, the market may bounce back post Eid.

There is however, the issue of the crushing shortage of tonnage, which has left local Buyers desperate to fill their plots in order to avoid potential shutdowns. It certainly remains a tricky situation for Turkish Recyclers.

Source : Strategic Research Institute

voda 13 juni 2019 16:23

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REIDsteel Wins Airport Contract

Insider Media reported that a Dorset based steel company has been awarded a contract to work on a major airport hangar at a South East airport. REIDsteel is providing the design, fabrication and installation of steelwork and cladding for a replacement aircraft painting and livery facility at Southend Airport, which will also be able to handle larger aircraft. Work is set to start next month and the new hangar will be used by Satys Air Livery Ltd for its exterior sealing, painting, spraying and engineering services.

Mr Jordan Laker, REIDsteel senior bid manager, said that "The aviation sector is growing rapidly in the UK and there is a corresponding demand for high-quality facilities to sustain this expansion. The new hangar at Southend Airport will be able to accommodate larger aircraft and support the Airbus A321-NEO which is frequently used at the airport. Although we now provide design, fabrication and installation services across a wide range of sectors in the UK and abroad, some our first structures a century ago were hangars.”

He added that "We have evolved with the sector and are delighted to be working on this new hangar and supporting the growth of aviation at Southend."

Source : Insider Media

voda 13 juni 2019 16:23

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ArcelorMittal Kryvyi Rih Invests In Wastewater Monitoring System

ArcelorMittal Kryvyi Rih put into operation the second wastewater quality control station. Thus, the company has completed the implementation of a modern automated wastewater monitoring system, which has no analogues in Ukraine. Investments amounted to UAH 12.2 million

ArcelorMittal Kryviy Rih is one of the first industrial enterprises that began to introduce such a system. Back in 2008, three automated gauging stations appeared to record the volumes of wastewater discharges, which, prior to the acquisition of the enterprise by ArcelorMittal, were carried out by calculation. In 2017, a permit was received for the commissioning of an automated water quality control station, and in 2019, another similar one.

At these two posts, modern equipment of leading world manufacturers is installed - Hach Lange (Germany), Seibold Composer (Austria), SYSTEA (Italy), Sontek (USA). Monitoring is conducted on six indicators: pH (pH), chlorides, iron, petroleum products, suspended solids, temperature. At the same time, imported equipment works at the control posts around the clock and remotely, without human presence. All data is automatically transmitted to the server for analysis by interested parties.

Source : Strategic Research institute

voda 13 juni 2019 16:26

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AISI Update on Raw Steel Production in US IN Week 23

In the week ending on June 8, 2019, domestic raw steel production was 1,875,000 net tons while the capability utilization rate was 80.6 percent. Production was 1,815,000 net tons in the week ending June 8, 2018 while the capability utilization then was 77.4 percent. The current week production represents a 3.3 percent increase from the same period in the previous year. Production for the week ending June 8, 2019 is down 0.8 percent from the previous week ending June 1, 2019 when production was 1,890,000 net tons and the rate of capability utilization was 81.2 percent.

Adjusted year-to-date production through June 8, 2019 was 43,110,000 net tons, at a capability utilization rate of 81.5 percent. That is up 6.0 percent from the 40,657,000 net tons during the same period last year, when the capability utilization rate was 76.7 percent.

Broken down by districts, here's production for the week ending June 8, 2019 in thousands of net tons: North East: 214; Great Lakes: 720; Midwest: 186; Southern: 684 and Western: 71 for a total of 1875.

Source : Strategic Research Institute

voda 13 juni 2019 16:27

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Indo German Project To Develop High Strength Spring Steel For Automotive

Business Line reported that an Indo-German project has been launched to develop advanced, high strength spring steel material that will help further reduce the overall body weight of the automobile and increase efficiency of suspensions. The light weight suspension springs to be made in the next three years will find extensive use in the automotive sector. The School of Engineering Sciences and Technology, University of Hyderabad has been awarded the bilateral collaborative research project under the 2+2 scheme by Indo-German Science & Technology Centre. Steel major JSW Steels and German company Muhr & Bender KG will be industry partners while University of Hyderabad and the University of Siegel’s will be academic research partners.

JSW steels would be making the appropriate steel grades required for light-weight automotive springs in continuous collaboration with UoH and USI. Once the optimal microstructure and targeted mechanical properties are met, MUBEA will take up the manufacturing of springs for commercial applications.

Mr Koteswara Rao V Rajulapati, Associate Professor in SEST, who would be coordinating this project as Principal Investigator from the Indian academic partner, University of Hyderabad, said that the project will receive a grant of INR 1.52 crores for the next three years

JSW supplies steel springs in India and MUBEA is a major global supplier, including foe the automotive giants in Germany, the advanced, high strength spring steel, once developed under the project will be made for commercial application in the near future.

Source : Business Line

voda 13 juni 2019 16:28

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Energypac To Set Up Steel Processing Plant At Mirsarai

The Daily Star reported that Energypac Power Generation signed an agreement with Bangladesh Economic Zones Authority to avail land at Bangabandhu Sheikh Mujib Industrial City in Chattogram’s Mirsarai for setting up a TKD 398.9 crore steel processing facility. Once completed, Energypac Steel will specialize in steel processing and manufacturing shipping containers. Mohammed Ayub, executive member of Beza, and Rabiul Alam, chairman of Energypac Power Generation, signed the agreement at the former’s office in Dhaka.

Mr Alam said that “As a local player, Energypac has heavily invested in the energy and engineering sector opening up new business opportunities and creating employment. We believe this is a timely investment which has immense possibilities as Bangladesh is setting examples in maintaining consistent economic growth over the past decade.”

Source : The Daily Star

voda 14 juni 2019 08:34

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Hogere heffingen China op pijpen VS en EU

Gepubliceerd op 14 jun 2019 om 08:28 | Views: 0

PEKING (AFN/RTR) - China gaat de invoertarieven verhogen op bepaalde hoogwaardige stalen pijpleidingen uit de Europese Unie en de Verenigde Staten, die vooral worden gebruikt in energiecentrales. Dat meldde het Chinese ministerie van Handel.

De heffingen lopen uiteen van 57,9 tot 147,8 procent en gaan vanaf vrijdag in. Die nieuwe tarieven liggen tot wel 10 keer hoger dan de eerdere heffingen die in 2014 werden opgelegd en in mei afliepen. Volgens het ministerie volgt de stap op verzoeken voor hogere heffingen op de betreffende producten van de eigen binnenlandse industrie.

Tot de bedrijven die geraakt worden door de hogere heffingen behoren bijvoorbeeld het Franse Vallourec en het Amerikaanse Wyman-Gordon. Volgens de meest recente volledige data importeerde China in 2017 voor 9500 ton aan hoogwaardige stalen pijpleidingen voor utiliteitsgebruik, waarvan bijna 95 procent van die producten afkomstig was uit de VS en EU.

voda 14 juni 2019 15:22

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India’s Steel Ministry Mulling Changes In Anti Dumping Norms For Steel - Report

PTI, citing sources familiar with the matter, reported that India’s Steel Ministry has suggested commerce counterpart to bring certain changes in norms used for imposing anti-dumping duties with a view to making them more effective for protecting domestic players from cheap imports and that ministry has also flagged issues related to impact of free trade agreements being signed by India with its trading partners, including Japan and South Korea

The government has imposed anti-dumping duty on several steel products from countries including China to guard domestic manufacturers from cheap imports. However, in certain cases, the imposition of duties was not able to contain dumping of products and the government had to initiate anti-circumvention investigations.

Source : PTI

voda 14 juni 2019 15:22

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Over 30,000 Jobs At Risk Over British Steel Collapse – GMB Union

ITV reported that a new study suggests that the number of jobs at risk from the collapse of British Steel is over 32,000, much higher than previously feared. GMB union said that as well as the thousands directly employed another 28,395 work in the supply chain. Previous estimates had put the number of jobs at risk at 25,000 but the new analysis reveals thousands more are in the balance

GMB said "GMB members are showing today that the fight for jobs at British Steel is a fight our whole union will get behind. There is outrage across the country at the prospect of indispensable foundation industries like British Steel going to the wall, while the Government simply sits on its hands. The UK has lost almost half a million manufacturing jobs in the last decade and while the Tory Party leadership candidates debate how much they want to cut the taxes of the richest, our members are looking at a bleak and uncertain future. A continuing decline in manufacturing is not inevitable, but we need action to protect the skilled, well-paid jobs our proud industries can provide and support."

Source : ITV

voda 14 juni 2019 15:23

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South Korea Blocks Shutdowns of Blast Furnaces – Argus Report

Argus reported that South Korea's national government has stepped in to block orders by three provinces to shut down Posco and Hyundai Steel's blast furnaces over alleged violations of emissions rules, temporarily averting a crippling of output in South Korea. Seoul's environment ministry asked the governments of Jeonnam, Gyeongbuk and Chungnam provinces to suspend their 10-day shutdown orders, pledging to find a solution to the problem within two to three months.

The ministry will form a panel of experts and industry officials to discuss alternatives for addressing the emissions issue. The provinces may ease their emissions rules if the environment ministry panel finds that mitigation measures will be too difficult.

The provincial orders would have affected blast furnaces at Posco plants in Gwangyang and Pohang and the Hyundai Steel complex in Dangjin. The 12 blast furnaces have combined capacity to produce about 53 million tonnes of crude steel.

Source : Argus

voda 14 juni 2019 15:24

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EAEU To Exclude South Korean Coated & CR Steel Products From Safeguard

Yonhap reported that South Korea’s Ministry of Trade, Industry and Energy said that the Eurasian Economic Union has decided to exclude coated and cold rolled steel products from a safeguard measure, allowing a stable supply of steel sheets essential for automobile production at a Hyundai Motor Co plant in Russia. In its final investigation report, EAEU said that among the three types of steel products that were subject to their probe, hot-rolled, cold-rolled and coated, only hot-rolled will face the trade restriction for a year

The EAEU, which has Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan as its members, kicked off the investigation in August last year amid concerns over an influx of steel products into the region in the face of other countries' growing protectionism.

South Korea has stressed that steel products for automobiles and gas pipes, whose demand cannot be met with regional production, should be exempted from the safeguard measure. In 2018, South Korea exported 207,000 tons, or USD198 million worth, of the three types of steel products to the EAEU countries, with coated and hot-rolled steel products accounting for 52 percent and 45.7 percent of the total, respectively.

Source : Yonhap

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