Eurobench.com

voda 8 juli 2019 16:38

0

British Steel Sale Will Take Time - Official Receiver Mr Chapman

The Guardian reported that the official receiver, Mr David Chapman, who is managing the sale process and has been overseeing the funding of operations at British Steel since it went into liquidation, is giving preference to buyers interested in the whole business rather than cherry-picking individual parts. He said: “I am encouraged by the level of interest shown in purchasing British Steel. After reviewing all the bids received, I am now in further discussions with the potential buyers who have made the most viable offers for the business. Due to the complicated nature of the business I expect any potential sale will take time to deliver. While these commercial negotiations continue, British Steel continues to trade and supply its customers as normal.”

Mr Chapman is scheduled to give a further update on Monday at a weekly meeting hosted by the business minister, Mr Greg Clark, and attended by trade unions, customers and suppliers.

Interested parties are thought to include JSW and Hesteel, while Evraz has also been linked to the company.

Source : The Guardian

voda 8 juli 2019 18:47

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Give China More Credit - Ms Gaines of FMG

AFR reported that Andrew Forrest’s Fortescue Metals Group expects Chinese steel demand to remain strong for the remainder of the year but has warned Australia not to underestimate the importance of stronger ties with Beijing as the threat of a trade war hangs over the global economy. Fortescue chief executive Ms Elizabeth Gaines said that east coast views dominated discussion on the relationship with Beijing while not enough emphasis was put on a trade relationship integral to the resources industry in Western Australia and the Australian economy. She endorsed China’s belt and road initiative as a means to underpin continued strength in demand for iron ore and enhance the ability of both the WA and federal governments to run budget surpluses.

Ms Gaines said that “I think belt-road is an opportunity. We certainly view it as an opportunity because we know that the belt and road initiative is driving growth in infrastructure, which is driving demand for steel, which drives demand for iron ore.”

Ms Gaines said Fortescue would leave policy for the policy makers but called for a more balanced debate on China with a full appreciation and recognition of the trading relationship. She said that “You very rarely read about that [the importance of trade with China to the economy] but you read about some of the other issues and concerns around China. I'm sure Treasury forecasts two years ago would have been predicting that right now the iron ore price would probably be USD 55 a tonne and we are sitting here and it is USD 126 a tonne, so clearly in a return to surplus for both the WA economy and nationally a big contributor is the strength of commodity prices and certainty the iron ore price.”

Ms Gaines said east coast-centric views and policy debates did not fairly reflect WA’s important and multi-dimensional relationship with China. She said that “We need to ensure that narrative about Australia’s relationship with China reflects the experience of WA and its resources sector and is not driven solely by the east coast perspective.”

She added that Fortescue’s success was built around longstanding relationships with Chinese customers, investors and banks, and included AUD 1 billion in procurement from China.

Source : AFR

voda 8 juli 2019 18:48

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SC Seeks Centre’s Response on Iron Ore Mining Leases - Report

Hindustan Times reported that the Supreme Court sought Centre’s response to a plea seeking quashing of allotment, extension or continuation of leases to firms for mining iron ore from over 358 mines across the country. The petition filed by advocate ML Sharma contended that mining leases were granted without following the due procedure in law. A bench led by Justice SA Bobde gave four weeks time to Centre after additional solicitor general ANS Nadkarni asked for time to place a written response. The court remarked it needed time to hear the issue at length. Nadkarni told the court that a “mala fide” plea has been filed and he, therefore, wanted some time to respond to it.

SC had on April 16 issued notice to the Centre on Sharma’s plea that has also sought a direction to the CBI to register a criminal case to probe the matter. Senior advocate PS Narasimha has been appointed by the court as an amicus curiae in the case.

According to Sharma he learnt in February this year that 288 mining leases were extended in exchange of “large donations” to political parties that has created a “serious financial loss” to the tune of INR 4 lakh crore to public exchequer.

Source : Hindustan Times

voda 8 juli 2019 18:50

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Expiry Of Iron Ore Lease In March 2020 May Impact Non-Integrated Steel Makers - Motilal Oswal

The Hindu reported that the merchant mining leases for 50 – 70 million tonnes per annum, accounting for 25-35% of total iron ore production, is set to expire in March 2020 and may put pressure on non-integrated steel makers in India like JSW Steel and Jindal Steel and Power Limited if the transition after expiry of leases in March 2020 is not smooth. The expiry of mining leases will not be renewed and will be auctioned, according to the amended Mines and Mineral Act, 2015 and lead to supply side disruption unless government takes necessary steps to ensure a trouble-free transition.

Motilal Oswal Financial Services in a report while retaining its buy rating on both the firms, said that “It could push up iron ore costs for domestic non-integrated steel mills higher by INR 2,000-3,000 per tonne. Further, if it gets accentuated by the current weakness in the steel market, some players may come under financial stress. JSPL and JSW Steel will be at risk in the near term.”

JSPL believes that the closure of mines will have limited impact if all remaining mines are mandated to produce as per their Environmental clearances limits. A JSPL spokesperson told The Hindu “At present the government should push for auctions and even if these get completed by December 2020, the rates should not go up for plants which depend heavily on buying. The government has to take firm affirmative action on the above lines to ensure steady supply of raw material at competitive prices so that the steel industry remains competitive.”

Source : The Hindu

voda 8 juli 2019 19:03

0

China lights a fire
Fig. 1 Daily steel production and demand 2010-2017 (tonnes)

Chinese steel market sentiment turned on a dime in June and sent prices of both steel and iron ore soaring at the end of the month. Support for local government spending and increasing restrictions on production sent steel prices sharply higher, while iron ore hit new highs as port stocks continued to fall.
So far these measures have mainly impacted sentiment however. The real impact on the market of production restrictions will be revealed this month, while the impact of increased local government spending will be felt more strongly from the autumn.

Voor meer, zie pdf (voorbeeld van Kallanish)

Bijlage:

voda 9 juli 2019 12:44

0

Beursblik: UBS verlaagt koersdoel ArcelorMittal

FONDS KOERS VERSCHIL VERSCHIL % BEURS
ArcelorMittal
14,738 -0,668 -4,34 % Euronext Amsterdam

(ABM FN-Dow Jones) UBS heeft dinsdag het koersdoel voor ArcelorMittal verlaagd van 23,00 naar 16,00 euro met een onveranderd Neutraal advies.

De analisten van UBS verlaagden in aanloop naar de kwartaalcijfers hun ramingen voor ArcelorMittal. Zij mikken op een EBITDA van 1,5 miljard dollar, het laagste niveau sinds het eerste kwartaal van 2016. En ook voor het derde kwartaal rekenen de analisten op een daling van de EBITDA.

De EBITDA zal in heel 2019 op 6,1 miljard dollar uitkomen, denkt UBS. Dat is 15 procent minder dan aanvankelijk voorzien en 41 procent minder dan de 10,3 miljard dollar in 2018. Dit is het gevolg van lagere prijzen, een zwakkere vraag en hoger inkoopkosten.

Toch meent UBS wel dat de verhouding tussen risico en rendement verbetert, nu het aandeel lager dan het langjarige gemiddelde van 6,5 keer de verhouding tussen ondernemingswaarde en EBITDA noteert.

ArcelorMittal publiceert op 1 augustus kwartaalcijfers.

Het aandeel daalde dinsdag 4,4 procent naar 14,73 euro.

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

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

Jurrien 9 juli 2019 12:50

0

quote:
voda schreef op 9 juli 2019 12:44:
Beursblik: UBS verlaagt koersdoel ArcelorMittal

FONDS KOERS VERSCHIL VERSCHIL % BEURS
ArcelorMittal
14,738 -0,668 -4,34 % Euronext Amsterdam

(ABM FN-Dow Jones) UBS heeft dinsdag het koersdoel voor ArcelorMittal verlaagd van 23,00 naar 16,00 euro met een onveranderd Neutraal advies.

De analisten van UBS verlaagden in aanloop naar de kwartaalcijfers hun ramingen voor ArcelorMittal. Zij mikken op een EBITDA van 1,5 miljard dollar, het laagste niveau sinds het eerste kwartaal van 2016. En ook voor het derde kwartaal rekenen de analisten op een daling van de EBITDA.

De EBITDA zal in heel 2019 op 6,1 miljard dollar uitkomen, denkt UBS. Dat is 15 procent minder dan aanvankelijk voorzien en 41 procent minder dan de 10,3 miljard dollar in 2018. Dit is het gevolg van lagere prijzen, een zwakkere vraag en hoger inkoopkosten.

Toch meent UBS wel dat de verhouding tussen risico en rendement verbetert, nu het aandeel lager dan het langjarige gemiddelde van 6,5 keer de verhouding tussen ondernemingswaarde en EBITDA noteert.

ArcelorMittal publiceert op 1 augustus kwartaalcijfers.

Het aandeel daalde dinsdag 4,4 procent naar 14,73 euro.

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

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

dank je Voda ,zoals immer ben je altijd scherp

voda 9 juli 2019 16:17

0

Hebei Province Moves 2019 Industrial Capacity Cutting Targets Forward

Reuters reported that China’s top steelmaking province of Hebei has moved up the target dates for cutting industrial capacity and relocating plants by two months to the end of October. The province also pushed forward the elimination of small coal-fired industrial boilers and ultra-low emission upgrades at steel mills. The province said “There remains a relatively big gap for us to reach the annual air quality goal. So we decided to adopt more targeted and effective measures to control air pollution.”

Hebei earlier planned to eliminate steel capacity of 14 million tonnes, coal capacity of 10 million tonnes, coke capacity of 3 million tonnes and coal-fired power capacity of 500 megawatts by the end of 2019. It also planned to shut down or move 19 high-emission industrial plants in steel, chemicals and pharmaceutical sectors by the year end.

The province has pledged to reduce the amount of air pollution, especially the amount of hazardous particulate matter of 2.5 microns or less, known as PM2.5, which can lodge deep in the lungs when inhaled. In the first six months of 2019, the average PM 2.5 concentration in Hebei was at the same level as last year at 58 micrograms per cubic meter, despite the extension of industrial production curbs. The province has set a target of 53 micrograms per cubic meter for this year.

Source : Reuters

voda 9 juli 2019 16:19

0

JSPL Posts 17% YoY Growth in Steel Production in Q1

The Jindal Steel and Power recorded steel & related products production of 1.57 Million Tonnes and sales of 1.51 Million Tonnes during the quarter of April to June 2019. The quarterly steel & related products production & sales saw a robust 17% and 16% growth respectively during Q1 FY20 on a YoY basis. The quarterly production and sales of steel & related products stood at 1.35 Million Tonnes and 1.30 Million Tonnes respectively in Q1FY19.

Key Highlights:
1. Q1 Sales at 1.51 Million Tonnes
2. 16% YoY growth in Quarterly Sales
3. Q1 Production at 1.57 Million Tonnes
4. 17% YoY growth in Quarterly Production

Source : Strategic Research Institute

voda 9 juli 2019 16:19

0

JSW Steel Coated Products Gets LoI for Asian Colour Coated Ispat

JSW Steel announced that its wholly owned subsidiary, JSW Steel Coated Products Limited had submitted a resolution plan for Asian Colour Coated Ispat Limited, a company undergoing insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. The Committee of Creditors of ACCIL has issued a Letter of Intent dated 6th July, 2019 to JSWSCPL and the same has been accepted by JSWSCPL.

The closure of the transaction shall be subject to obtaining necessary approval from the National Company Law Tribunal, New Delhi.

Source : Strategic Research Institute

voda 9 juli 2019 16:20

0

NCLT Cancels Liberty House Group Resolution Plans for Adhunik Metaliks & Orders Liquidation

Cuttack bench of the National Company Law Tribunal, after cancelling the resolution plan of the UK based group, Liberty House Group as it failed to implement the resolution plan submitted by it under the corporate insolvency resolution process, has ordered liquidation of steel maker Adhunik Metaliks. The NCLT bench “In this case, the situation that has arisen is that successful resolution applicant Liberty House Group is not in a position to implement the resolution plan. Corporate Insolvency Resolution Process period of 270 days has already been over along back. In such a situation, this authority has no option but to pass order of liquidation of the Corporate Debtor as per Section 33 of Insolvency and Bankruptcy Code, 2016.”

The NCLT also rejected a plea by the committee of creditors to be allowed to consider the offer of second bidder Maharashtra Seamless. However it said “Maharashtra Seamless can still apply to acquire the companies under Sections 230-232 of the Companies Act that deals with mergers and amalgamations.”

Liberty House’s plan was approved in July 2018 but its implementation got delayed. The delay occurred due to MSTC’s claims which were later rejected by both the National Company Law Appellate Tribunal and the Supreme Court. However, even after the claims were dismissed, the Liberty House failed to pay the upfront amount of INR410 crore, saying the lenders did not issue it an offer letter for equity shares, which made it difficult for the company to invest funds as per plan.

Lenders to Adhunik Metaliks are State Bank of India, Punjab National Bank, ICICI Bank, IFCI, Punjab & Sind Bank, UCO Bank, Allahabad Bank, Bank of Baroda, Corporation Bank and SREI Infrastructure Finance, among others.

Adhunik Metaliks is not a going concern as it has not been operational for the past 14 months. The integrated steel plant has a capacity of 0.45 million tonnes in Odisha which can be increased to 1 million tonnes. Zion Steel which is also located in the premises of Adhunik has a rolling mill of 0.12 million tonnes.

Source : Strategic Research Institute

voda 9 juli 2019 16:21

0

US DoC Issues Preliminary CVD Determinations in Imports of Fabricated Structural Steel from China, Canada and Mexico

US Department of Commerce announced its preliminary determinations in the countervailing duty) investigations of imports of fabricated structural steel from Canada, China, and Mexico. In the China and Mexico investigations, Commerce made affirmative determinations, finding that exporters received countervailable subsidies at rates ranging from 30.30 to 177.43 percent, and 0.01 (de minimis) to 74.01 percent, respectively. In the Canada investigation, Commerce made a negative determination, finding that exporters received countervailable subsidies at de minimis levels ranging from 0.12 to 0.45 percent. Based on these preliminary determinations, the Department of Commerce will instruct US Customs and Border Protection to collect cash deposits from importers of fabricated structural steel from China and Mexico.

In 2018, imports of fabricated structural steel from Canada, China, and Mexico were valued at an estimated USD 722.5 million, USD 897.5 million and USD 622.4 million, respectively.

The petitioner for these investigations is the American Institute of Steel Construction Full Member Subgroup (Chicago, IL).

Commerce is currently scheduled to announce its final CVD determinations on or about November 19, 2019. If Commerce makes affirmative final determinations, the US International Trade Commission will be scheduled to make its final injury determinations on or about January 2, 2020. If Commerce makes affirmative final determinations in these investigations, and the ITC makes affirmative final injury determinations, Commerce will issue CVD orders. If Commerce makes negative final determinations, or the ITC makes negative final determinations of injury, the investigations will be terminated and no orders will be issued.

Source : Strategic Research Institute

voda 9 juli 2019 16:22

0

SHFE May Add More Steel Futures Contracts

A decade ago, the Shanghai Futures Exchange launched its steel rebar futures contract. In the years that followed it has become the gold standard for steel derivatives, achieving a success that other exchanges aspire to emulate. And they are definitely trying, with a total of 11 steel derivatives contracts launched by the main trading exchanges since. SHFE, which launched a wire rod futures contract at the same time as rebar, is now planning to develop products to hedge through the steel supply chain including ferrochrome and stainless steel 304-2B. It is also looking into the possibility of a cold-rolled coil contract too. Mr Jin Ming, assistant manager of SHFE’s commodity department told delegates at this week’s Steel Success Strategies XXXIV conference in New York.

Last year, SHFE’s steel rebar contract achieved volumes of 531 million lots, equivalent to 25 times its production in mainland China. It is widely viewed as a great proxy for the state of the Chinese economy, given its use to reinforce and strengthen concrete and masonry in construction projects. This inherently helps boost its popularity as a result.

Source : Strategic Research Institute

voda 9 juli 2019 16:26

0

EVRAZ ZSMK Reduces Water Intake from Tom River

EVRAZ ZSMK has launched a new slurry thickening facility for the gas cleaning equipment at its blast furnaces. The new equipment will reduce annual wastewater discharge and water intake from the Tom River by nearly 3 million cubic metres. Previously, the water that was used to purify blast furnace gases was sent to the plant’s slurry storage facility. Now, it is sent to a machine that separates and thickens the slurry. The clarified water is reused in production, closing the blast furnace shop’s water supply cycle.

In 2019, EVRAZ ZSMK plans to instal similar equipment at its second basic oxygen furnace shop, which will reduce annual water intake by another 1.5 million cubic metres. This will effectively close the water supply cycle for the plant’s main metallurgical conversion facility.

Source : Strategic Research Institute

voda 9 juli 2019 16:27

0

GMS Market Commentary on Shipbreaking in Week 27 - CHALLENGE REMAINS!

Inclement weather has put much of the activity in the subcontinent markets on hold this week, as Bangladesh and Pakistan continue to digest and challenge the latest outcome of their respective budgets and India continues to battle the outcome of its volatile steel plate. However, the facts remain that prices have overall declined by about USD 50/LDT from the peaks seen earlier this year and a far quieter summer / monsoon period is subsequently expected across the subcontinent markets, whilst these new realities sink in.

Meanwhile, the flow of tonnage into the market has also slowed considerably over the summer months and this has allowed a stuffed Bangladeshi market, the time to digest much of the large LDT & expensive tonnage beached here during the first six months of the year, before (hopefully) returning to form in the fourth quarter of this year.

In India, Steel prices continue to endure a mercilessly rough ride, once again losing almost USD 12/LDT off their value this week, whilst the Pakistani Rupee has (overall) suffered catastrophic depreciations, wiping off about 20% of its value within the last 12 months alone.

All of this, even before the impact of the 2019 Pakistani budget can be taken into account, whereby Gadani Ship Recyclers have seen an increase in sales taxes and the PSBA has subsequently been challenging Government for a reversal of the same - albeit, with little success thus far. Notwithstanding, all of their efforts may likely not yield much of a difference, given that their prices are currently positioned some ways away from their subcontinent counterparts.

Bangladesh meanwhile, seems better equipped to challenge the recent imposition of the 10% VAT from its recent budget, with the powerful BSBA lobby already working hard to get this reversed and some signs of progress were reportedly witnessed this week.

Finally, Turkey remains stuck in a quicksand of domestic fundamental distress with little movement to report on local steel plates and the Turkish Lira, which although still weak, displayed some signs of firming as the week ended.

Source : Strategic Research Institute

voda 9 juli 2019 16:28

0

Keonjhar MP Urges Centre to Setup Steel Plant in Odisha

Deccan Chronicle reported that Youngest Member of Parliament in the 17th Lok Sabha, 26 year old Ms Chandrani Murmu of Biju Janata Dal asking the centre to setup a steel plant in her constituency, Keonjhar in Odisha.

Ms Murmu, an engineering graduate was fielded in the recently held Lok Sabha polls by the BJD from Keonjhar against BJP's Ananta Nayak.

Source : Deccan Chronicle

voda 9 juli 2019 16:28

0

South Korean Steelmakers Hit by Soaring Iron Ore Prices

Korea Times reported that concerns are growing regarding POSCO, Hyundai Steel and other domestic steelmakers that have been grappling with soaring iron ore prices amid falling global supplies, according to industry analysts it will chip away at steelmakers' profitability unless they reflect the price hikes in their products. However, this may not be easy because the automobile, shipbuilding and other industries using their steel are also suffering from the global economic slowdown.

According to the Korea Resources Corporation, the benchmark 62% Fe iron ore price was USD 116.72 as of June 28, up 3.3% from a day earlier and the highest price since April 2014. The price of iron ore has rallied over 60% so far this year and is expected to climb even higher. Iron ore was traded at USD 72.63 per tonne, Jan. 4, and surged to USD 82.05, Feb.1. It continued rally to reach USD 91.49 per tonne April 5 and stood at USD 104.3 on May 24. The price slightly decreased to USD 100.38, June 7, but skyrocketed to USD 116.72, June 28. The rise came after Brazilian miner Vale's dam disaster, which forced it to slash its iron ore sales. Reportedly, the company has had to cut production by 90 million tonnes of iron ore compared to last year. Another iron ore exporter, Australia, has also suffered setbacks in iron ore exports, as bad weather hurt the production of the country's top mines in April. Another factor that pushed up the price is China's robust demand on iron ore as local mills ramp up their output. Chinese steelmakers produced 89.09 million tonnes of crude steel in May, up from 85.03 million tonne in April.

This is putting pressure on Korean steelmakers, because their attempt to hike their prices is facing strong opposition from their customers.

Steelmakers, led by POSCO, and shipbuilders, led by Hyundai Heavy Industries, recently agreed to freeze the price of thick plates for the first half of the year, after they staged negotiations for six months. Steelmakers demanded a hike of 50,000 won per tonne, but shipbuilders flatly refused citing their businesses were not showing any signs of a recovery.

Hyundai Steel, which is supplying steel sheets for affiliate Hyundai Motor and Kia Motors, has not raised its prices for the carmakers because the two brands' sales have also been slowing in recent years.

Yuanta Securities expects that POSCO will log a 718.2 billion won operating profit in the second quarter, down 13% from a year earlier. Mirae Asset Daewoo anticipated that Hyundai Steel will post a 224 billion won operating profit in the second quarter, down 33% from a year earlier.

Mirae Asset Daewoo analyst Rhee Jae-kwang said that "Hyundai Steel seems to be enduring the continued rally in iron ore prices. Since iron ore price continues to rise, at least a 50,000 won hike in steel products should be made in the second half."

Source : Korea Times

voda 9 juli 2019 16:30

0

Potential YTC - Minmetals Merger Announced

According to local sources, the Yunnan provincial government and China Minmetals are set to finalise a deal that will deepen the ties between the two organisations. This could result in China Minmetals becoming the majority shareholder of the Yunnan Tin Group (Holding) Company.

On 16 June, YTC issued a notice announcing that “the increasing cooperation between the Yunnan government and China Minmetals may lead to changes in control”, although the deal is yet to be finalised. The potential merger is expected to be completed by October this year.

China Minmetals, founded in 1950, originally dealt with the trade of metal commodities, but has developed across the supply chain following a series of acquisitions and mergers. The company owns mines across the base metals space, including the Las Bambas Copper Mine, the Dugald River Zinc Mine, and the Papua New Guinea Ramu Nickel and Cobalt Mine. Headquartered in Beijing, Minmetals manages overseas institutions, resource projects, and construction projects located in more than 60 countries and regions across the world. YTC has consistently ranked as China’s, and the world’s, largest refined tin producer for the last 15 years, comprising around 22% of global refined tin production.

Source : Strategic Research Institute

voda 9 juli 2019 16:30

0

Rwandan Smelter gets Exploration Green Light

LuNa Smelter in Rwanda has been awarded eight minerals exploration licenses, part of a USD 14.4 million investment into the country, as it looks to increase its feedstocks and production. Although much of the mining activity in the country is undertaken by artisanal or small-scale miners, many of these miners work together in local cooperatives. However, more than 200 mining licenses were denied by the government, the majority of which belonged to these groups. The Rwandan government claims ASM cooperatives have unsafe mining practices, which it is attempting to improve. The minerals sector, which the government is aiming to streamline, has been the subject of illegal activity and investor disputes. These disputes arise from disagreements with the investors after they failed to meet standards. Investors claim that the government broke its obligations to the contracts and accuse it of nationalising its minerals sector.

Despite these allegations, several mining contracts were awarded to local and foreign investors. The Karuruma smelter, operated by LuNa, a joint venture between Polish company Luma Holdings and Rwandan investment firm Ngali Holdings, was one of the few awarded a mining license. This license contains eight mining exploration licenses, which contain prospective areas for cassiterite (tin) and coltan (niobium-tantalum). The company is expected to invest at least USD 14.4 million over the four year contract. Also awarded a contract was Paragon Mining Industry, a Chinese investment which plans to bring USD 5.2 million to the country over the lifetime of its five year exploration license.

The Karuruma smelter, which was reopened in March this year, is part of the Rwandan government’s plan to prevent the country from being at the mercy of the volatile metals markets. The governments hopes that value-added products will help to stabilise the economy. However, the smelter is currently running below capacity, according to officials, despite being able to accept both tin concentrate and tin scrap. The move by LuNa into minerals exploration appears to indicate that the company are looking to address the feedstock issue, and should result in stable production from the smelter.

Source : Strategic Research Institute

voda 9 juli 2019 16:49

0

Beursblik: Macquarie verlaagt koersdoel ArcelorMittal

FONDS KOERS VERSCHIL VERSCHIL % BEURS
ArcelorMittal
14,572 -0,834 -5,41 % Euronext Amsterdam
Salzgitter AG
22,00 -1,77 -7,45 % Frankfurter Wertpapierbörse (Xetra)
Voestalpine AG
25,36 -1,12 -4,23 % Wiener Börse

(ABM FN-Dow Jones) Macquarie heeft dinsdag het koersdoel voor ArcelorMittal verlaagd en de staalbedrijven Voestalpine en Salzgitter op hun verkooplijst geplaatst.

Voor ArcelorMittal ging het koersdoel van 24,00 naar 20,00 euro, maar het advies bleef onveranderd Outperform. Een grootschalige handelsoorlog is een bedreiging voor ArcelorMittal, stelden de analisten. Maar positief is dat de balans van de staalreus veel beter is dan in voorgaande crises.

Het koersdoel voor het Oostenrijkse Voestalpine werd verlaagd van 29,00 naar 22,00 euro en het advies van Neutraal naar Underperform.

De analisten van Macquarie zijn bezorgd over de automotive industrie, zeker als de Verenigde Staten nieuwe importheffingen op Europese auto’s en onderdelen zet. Ook kan Voestalpine het deksel op de neus krijgen doordat de VS aangevraagde ontheffingen voor het leveren van staal weigert.

Voor het Duitse Salzgitter ging het koersdoel van 29,00 naar 21,00 euro en ook hier besloot Macquarie het advies te verlagen van Neutraal naar Underperform.

De analisten zijn bij Salzgitter bevreesd voor een onderbenutting van de capaciteit, langdurige zwakte in de technologiesector en net als bij Voestalpine voor Amerikaanse importheffingen op auto’s en onderdelen.

Het aandeel ArcelorMittal daalde dinsdag 5,4 procent naar 14,58

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

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

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