Eurobench.com

voda 10 augustus 2014 16:09

0

Japan crude steel output projected at 28420000 tonnes in Jul-Sep

According to an August 1 announcement by the Ministry of Economy, Trade & Industry, Japan's steel companies plan to produce a total of 28,420,000 tonnes of crude steel in July to September 2014 or in the Q2 of fiscal 2014 (April 2014 to March 2015), up 2.8% from an expected 27,660,000 tonnes of total production in the quarter before.

The planned production volume of crude steel is higher by 1.6% than METI's demand estimate of 27,960,000 tonnes for July to September 2014. Also, the planned production volume indicates an increase of 2.5% on a definite 27,740,000 tonnes of total production in July to September 203.

The following are the steel companies' production plans for the second quarter of fiscal 2014. Total production is projected at 19,490,000 tonbes up 4.5% from an expected 18,650,000 tonnes of total production in the quarter before and up 3.7% from a definite 18,800,000 tonnes of total production in the Q2 of fiscal 2013.

Of the projected total, the first 12,510,000 tonnes of products are intended for domestic shipments, up 1.9% from an expected 12,280,000 tonnes of total production in the quarter before and up 3.9% from a definite 12,040,000 tonnes of total production in the Q2 of fiscal 2013. The remaining 6,980,000 tonnes of products are meant for export sales, up 8.2% from an expected 6,450,000 tonnes of total production in the quarter before and up 3.2% from a definite 6,760,000 tonnes of total production in the Q2 of fiscal 2013.

H-beams, small bars;
Total production of H-beams is projected at 980,000 tonnesup 2.2% from an expected 960,000 tonnes of total production in the quarter before and down 7.4% from a definite 1,060,000 tonnes of total production in the Q2 of fiscal 2013. Total production of small bars is projected at 2,400,000 tonnes up 1.7% from an expected 2,360,000 tonnes of total production in the quarter before and up 5.5% from a definite 2,270,000 tonnes of total production in the Q2 of fiscal 2013.

Total production is projected at 5,200,000 tonnes up 3.1% from an expected 5,040,000 tonnes of total production in the quarter before and up 1.5% from a definite 5,120,000 tonnes of total production in the Q2 of fiscal 2013. Of the projected total, the first 3,240,000 tonnes of products are intended for domestic shipments, up 0.3% from an expected 3,230,000 tonnes of total production in the quarter before and down 3.9% from a definite 3,370,000 tonnes of total production in the Q2 of fiscal 2013.

The remaining 1,950,000 tonnes of products are meant for export sales, up 8.1% from an expected 1,810,000 tonnes of total production in the quarter before and up 11.7% from a definite 1,750,000 tonnes of total production in the Q2 of fiscal 2013.

Source - The TEX Report

voda 10 augustus 2014 16:10

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China iron ore imports in July rise 11 pct

Reuters reported that China's iron ore imports jumped nearly 11% in July from the previous month as buyers took advantage of lower prices for the steelmaking raw material and stocked up, despite weak domestic steel demand.

July's total shipments of 82.52 million tonnes represented the third highest on record, with steel mills in China continuing to produce at high rates. Margins for steel mills have also improved as a result of lower iron ore and other input prices.

Mr Graeme Train, analyst with Macquarie in Shanghai said that "The import numbers are generally pretty volatile and you get up months and down months the June number looked a little low so July represents a higher number, but if you look at the averages over the quarter, it is pretty much in line."

Australia's share of Chinese iron ore imports was 61% of the total in June and 56% in the first half of the year, against about 50.8% for the whole of 2013.

Source – Reuters

voda 10 augustus 2014 16:11

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Vale to add ships and double China shipments

Brazilian owned iron ore producer Vale plans to grow its shipping fleet in order to double shipments to China in the next five years.

Mr Jose Carlos Martins Vale's head of ferrous metals said that "With the increase in export volume, we will need to hire more ships or buy them, whatever is more efficient from a financial point of view."

Vale in 2011 started operating Valemax vessels, the world’s biggest iron ore carrier, to reduce shipping costs to Asia. However, the company has yet to convince China's authorities to allow the vessels to anchor at Chinese ports because of safety concerns.

Source – China Economic Review

voda 10 augustus 2014 16:13

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Ukrainian Zaporizhstal's crude steel output up in first 7 months

Ukraine’s Zaporizhstal announced that its output of finished steel output totaled 1.96 million tonnes in the first seven months, up by 5% YoY.

The output of crude steel from Zaporizhstal totaled 2.26 million tonnes up by 2.7% compared to the same period a year ago.

In July alone, Zaporizhstal produced 282,000 tonnes of finished steel products. The company’s crude steel output totaled 326,310 tonnes in the month.

Source - www.yieh.com

voda 10 augustus 2014 16:14

1

ArcelorMittal statement on operations in Ebola virus hit Liberia

ArcelorMittal is currently mining and shipping 5 million tonnes of iron ore a year in Liberia from its operations in Yekepa and Buchanan.The company is also working on an expansion project (described as phase 2) that will see shipments rise to 15 million tonnes of iron ore with first production planned by the end of 2015.

Due to the evolving situation of the current Ebola virus outbreak in West Africa, contractors working on the phase 2 expansion project have declared force majeure and are moving people out of the country. We are currently assessing the potential impact on the project schedule.

ArcelorMittal remains fully committed to Liberia and the intention is to re start full construction of the phase 2 project at the earliest opportunity. In the meantime, employees are working to secure equipment and carrying out other critical activities related to logistics, engineering and procurement. Phase 1 operations continue as normal at this time and to date have not been affected by the situation in Liberia.

Mr Bill Scotting CEO of ArcelorMittal Mining said that "Clearly the priority for Liberia and other affected countries right now is to contain and ultimately stop this current outbreak of Ebola. We are providing full support to the government in this regard and taking every precaution to protect all of our employees on the ground in Liberia. ArcelorMittal has made a long term commitment to Liberia and we will maintain this commitment. While the recent developments are very concerning, at present we believe that the emergency procedures and other measures developed and currently in place at all ArcelorMittal sites in Liberia make it possible to continue our phase 1 operations."

Source – Strategic Research Institute

Regenboog33 10 augustus 2014 16:16

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Thanks voda ;-) AB'tje

voda 11 augustus 2014 16:22

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ArcelorMittal gaat samenwerken met Tauron

MAANDAG 11 AUGUSTUS 2014, 12:57 uur | 610 keer gelezen

KATOWICE (AFN/BLOOMBERG) - ArcelorMittal en Tauron richten een samenwerkingsverband op het gebied van energiecentrales op in Polen. Dat maakte het Poolse nutsbedrijf maandag bekend zonder financiële details te vermelden. Het gezamenlijke bedrijf, dat Tameh gaat heten, is naar verwachting in het vierde kwartaal van dit jaar een feit.
ArcelorMittal en Tauron krijgen ieder een belang van 50 procent en brengen beide onderdelen in. Volgens Tauron kunnen er door de samenwerking kostenbesparingen worden gerealiseerd.

voda 11 augustus 2014 16:38

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Chinese steel exports surge by 37pct YoY in Jan-July'14 period

Bloomberg reported that China’s exports of steel products during the first seven months of the year have surged to a record as domestic consumption falls amid increasing demand from the US and Europe.

According data released by China’s General Administration of Customs, the world’s biggest producer exported a record 49.1 million tonnes of steel products from January through July, an increase of 37% from the same period last year. Exports in July were 8.06 million tonnes, a 14% increase from the previous month and near the record in May.

Mr Ivan Szpakowski analyst at Citigroup said that “China’s domestic steel demand in July fell 2.9% from the same month last year and net exports as a share of domestic production was 9.5%, the highest since 2008. Finished steel demand will grow 2.3% in the US and 1.4% in the European Union this year.”

Mr Graeme Train a Shanghai based analyst at Macquarie Group Limited said that “This year has been a great year for steel demand in the developed world. We’ve seen big increases year-on-year in most regions so conditions have just aligned to allow the Chinese to export a lot of material. It has the capacity and with raw material prices coming off China has been the biggest beneficiary.”

In July, China imported 1.22 million tonnes of finished steel, increasing by 7.96% MoM while its finished steel imports in the January to July period amounted to 8.47 million tonnes up 5.8% YoY.

Source – Bloomberg

voda 11 augustus 2014 16:40

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Chinse auto sales up by 6.7pct in July 2014 - Industry group

An industry group said that auto sales in China, the world's biggest car market, accelerated in July, growing 6.7% to 1.62 million vehicles.

The China Association of Automobile Manufacturers in a statement said that for the first seven months of 2014, auto sales reached 13.30 million vehicles, up 8.2% on the same period last year.

China has become critically important to foreign carmakers, given the size of the market and weak sales elsewhere in the world.

China's full year auto sales hit 21.98 million vehicles last year, when a recovery in Japanese brands offset the impact of slowing economic growth.

Source – China Post

voda 11 augustus 2014 16:42

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Global ship demand to rise as ore cargoes bust 1.3 billion tons

Bloomberg reported that Australia’s plans to export more iron ore this year than any nation ever is driving up shipping costs by 80%. Increased sales from Brazil before year-end means freight rates could go higher still.

Clarkson Plc, the world’s largest shipbroker, said that Rio Tinto Group and other miners will ship an extra 97.8 million tonne from Australia, equal to more than 600 cargoes for Capesizes hauling the ore. Brazil will add another 12.4 million tonne, the first expansion since 2011, with shipments accelerating in the second half as the weather improves.

While the 38% slump in ore prices since the end of last year is threatening to curb the growth in cargoes, Morgan Stanley still expects global seaborne supply to top 1.3 billion tonne in 2014 for the first time ever. The flood of ore is helping freight companies contend with their own glut, with orders for new vessels at a near 3 year high.

Mr Marc Pauchet, a London-based analyst at Braemar ACM, the 2nd largest publicly traded shipbroker, said that “What is needed is a little spark. The increase in production in Brazil and Australia in the second half might just be it.”

Source - Bloomberg

voda 11 augustus 2014 16:43

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Ukraine's Metinvest to cut production

It is reported that Ukraine’s Metinvest has forced to cut production due to the crisis in east Ukraine.

The company said it will not accept new orders temporary; however, it had received many bookings for August and September.

The largest steelmaker in Ukraine said its crude steel production rose by 8% in the second quarter, reaching 2.97 million tons from the previous quarter.

However, the company’s total crude steel output in the first six months dropped by 8% to 5.73 million compared to the same period last year.

Source - www.yieh.com

voda 11 augustus 2014 16:46

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Mexico auto production and exports hit record highs

Mexico’s auto production and exports in the first seven months of 2014 hit record highs, rising 7.5% and 11.2%, respectively, from the same period of last year.

The AMIA industry association said that both output and exports of light vehicles climbed to historically high levels, both for the month and the cumulative January-July period.

In the first seven months, automakers manufactured 1.85 million vehicles, 83.1% of which correspond to units destined for export and the remaining 16.9% for the domestic market.

A total of 1.5 million vehicles were exported during that same period, 71.5% of them to the United States.

Domestic sales grew just 1.3% to 596,571 units in the year’s first seven months.

Automakers operating in Mexico not only sell the vehicles they assemble in the Latin American country, but also those imported from subsidiaries in other regions of the world.

Between January and July, the biggest-selling car brands in Mexico were Nissan (151,106 vehicles), General Motors (115,419) and Volkswagen (88,798).

In July, auto production rose 8.5% from the same month of last year to 259,634 units, while exports climbed 20.2% to 231,934 vehicles.

Source - www.laht.com

voda 11 augustus 2014 16:47

1

ArcelorMittal doubles investments in Brazil

Steelmaker ArcelorMittal has doubled its investments in Brazil in the first half of the year.

The company’s Capex reached USD 241 million in the period, up 97.5% from USD 122 million a year ago.

ArcelorMittal’s investments in Brazil account for 7% of the company’s global Capex in 2014.

ArcelorMittal’s main project in Brazil is the expanding of the Joao Monlevade mill, in the producing state of Minas Gerais.

Source -Visit www.steelorbis.com

voda 11 augustus 2014 20:45

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'Indiase miljardair koopt staalbedrijf'

MAANDAG 11 AUGUSTUS 2014, 20:33 uur | 33 keer gelezen

LONDEN (AFN) - Het staalconcern JSW Steel van de Indiase miljardair Sajjan Jindal is in vergevorderde onderhandelingen over een overname van de failliete Italiaanse staalproducent Lucchini. Dat meldde zakenkrant Financial Times maandag op basis van ingewijden. Eerder werd nog gemeld dat ArcelorMittal een bod ging uitbrengen op het bedrijf.
Lucchini werd in 2012 failliet werd verklaard en staat sindsdien onder een speciaal regime, bedoeld om het verlies van banen te voorkomen. Naar verluidt wil de Italiaanse overheid het bedrijf voor het symbolische bedrag van 1 euro verkopen, om zo de werkgelegenheid in de staalindustrie te behouden.

Het zou voor het eerst zijn dat JSW Steel de Europese markt betreedt. Lucchini was eerder in handen van de Russische branchegenoot Severstal.

GVteD 11 augustus 2014 22:57

0

Reuters

38 minutes ago

ArcelorMittal's Brazil head says local price outlook stable
SAO PAULO (Reuters) - ArcelorMittal does not see any need to cut local steel prices in Brazil despite a weakening economy and a higher level of imports, the company's head of operations in Brazil said on Monday.

Benjamin Baptista told reporters that the company expected the Brazilian real to weaken through to the end of the year, helping local steel makers fend off further rises in imported material.

"There is no reason at all to move prices at the moment," Baptista said.

(Reporting by Alberto Alerigi; writing by Stephen Eisenhammer; Editing by David Gregorio)

voda 12 augustus 2014 16:28

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Big steel companies displace small ones in Bangladesh

The Daily Star reported that small steel millers are being squeezed out of the market as more and more giants are entering the business.

Currently, 3 big steelmakers BSRM, Abul Khair Steel and KSRM supply more than 50% of the country's annual need for 35 lakh tonne to 40 lakh tonnes of steel, with BSRM and AKS set to expand their capacity further to fully control the market for iron metal. Besides, the competition from big players, the smaller mills are also facing challenges such as price fall in international market and a decline in domestic demand, which they said are forcing them out of the market.

Mr SK Masudul Alam Masud, former president of the Bangladesh Auto Re-Rolling and Steel Mills Association, said that AKS and BSRM have been expanding their capacity to a level that they can meet the country's entire demand. Mr Masud said that “The market is increasingly becoming monopolistic, with over 300 smaller millers facing a phase-out of the market.”

Mr Mizanur Rahman Babul, senior vice-chairman of Bangladesh Steel Re-rolling Mills Association, echoed Masud's concerns. Mr Babul said that “We are toddling. One-fourth of our 130 factories have already been shut down for want of business.”

Source - The Daily Star

voda 12 augustus 2014 16:30

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China's steel industry burdened by overcapacity at shutting plants

SCMP reported that the mainland's chronically oversupplied steel sector will take years to restore balance in the demand supply equation and this will come about from bankruptcies of privately owned firms, amid weak demand and prices, tighter pollution controls and stringent credit conditions.

Sharp falls in the prices of raw materials such as iron ore and coking coal helped boost the steel sector's profits in the first half of the year but analysts said that until local governments showed they were serious about curtailing overcapacity, the industry would only be marginally profitable at best.

Ms Vanessa Lau analyst of Sanford Bernstein said that "China is still many years away from addressing overcapacity the government is closing excess capacity in order to tackle environmental problems, rather than trying to help the economics of the steel sector."

After visiting steel mills and local government officials in Tangshan, Ms Lau said that industry figures suggested only 500,000 tonnes of capacity in small plants had been mothballed, a drop in the bucket compared with the city's shutdown target of 40 million tonnes by 2017 accounting for 30% of its capacity.

Tangshan accounts for half of Hebei province's steel output, which in turn counts for about a quarter of the national total. Better profitability has encouraged large plants to lift output with their blast furnace utilisation rate rising to 97% from 86% in March.

Medium sized and large steel mills tracked by the China Iron and Steel Association posted a combined net profit of CNY 7.48 billion up 133% YoY. Still, the net profit margin was a meagre 0.41%. Excluding non core operations, they racked up a loss of CNY 660 million in steel related operations.

The association said that the difficult conditions would persist due to weak demand, excess capacity, tight credit supply and rising environmental protection costs. H1 domestic steel consumption grew only 0.4% mainly due to a fall in property construction investment growth to 14.1% from 20.3% in the same period last year.

The H2 demand outlook was not good, weighed down by a 16.4% fall in new home construction starts adding increasing trade disputes could crimp exports. Construction accounts for just over half of steel demand. The industry is estimated by the Ministry of Industry and Information Industry to have 200 million tonnes of excess capacity, or a fifth of the total.

Mr Paul Bartholomew, the managing editor of industry publication Platts, expected this year's new blast furnace capacity addition to fall to between six million and 10 million tonnes from 24 million tonnes last year. The capacity-cut target set by Beijing for last year was 10 million tonnes. Margins have improved, but they are still very meagre, so the incentives for new capacity are definitely waning.

Source - SCMP

voda 12 augustus 2014 16:32

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Mechel's crude steel products drop in H1

It’s reported that Russia based mining and steel company Mechel announced that its crude steel output totaled 2.12 million tonnes in the first half, falling by 17% from the same quarter a year ago.

Meanwhile, its output of pig iron was at 1.9 million tonnes in the quarter, decreasing by 5% YoY.

The company said that its sales of ferrosilicon dropped by 12.5% to 42,000 tonnes in the first six months of this year.

Source - www.yieh.com

voda 12 augustus 2014 16:35

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ArcelorMittal positive about steel demand prospects

ArcelorMittal continues to expect global apparent steel consumption to increase by between 3% and 3.5% this year.

The leading steelmaker and scrap consumer has upped its consumption growth forecast for Europe to 3% to 4% based on 'strong' demand. And despite the negative impact of severe weather in this year's Q1, the growth forecast for the USA has been increased to 5% to 6% for 2014 as a whole.

Meanwhile, signs of stabilisation in China owing to the government's targeted stimulus package have led ArcelorMittal to expect domestic steel demand growth this year of between 3% and 3.5%. While risks remain to steel demand in the CIS and other emerging markets including Brazil, the stronger fundamentals in our key developed world markets continue to support our expectation that steel shipments should increase by approximately 3% in 2014 as compared to 2013.

Mr Lakshmi Mittal chairman & CEO of ArcelorMittal said that “The Q2 and H1 results reflect the anticipated improvement in steel shipments and margins. Looking ahead, indicators in both Europe and the US, which together account for two thirds of our shipments, continue to be positive.”

ArcelorMittal recorded a net income of USD 52 million in the Q2 versus a net loss of USD 0.8 billion in the same period last year. Sales improved from USD 20.2 billion to USD 20.7 billion while total steel shipments were 21.5 million tonnes as compared with 20.9 million tonnes in the Q2 of 2013.

Source - Recycling International

voda 13 augustus 2014 16:44

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Winst Tata Steel daalt 70 procent

WOENSDAG 13 AUGUSTUS 2014, 13:08 uur | 426 keer gelezen

MUMBAI (AFN) - De winst van Tata Steel is in het eerste kwartaal van het gebroken boekjaar 2014/2015 met ruim 70 procent gedaald, onder meer door een forse post aan eenmalige lasten. Dat blijkt uit de cijfers die de eigenaar van de hoogovens in IJmuiden woensdag bekendmaakte.
De nettowinst daalde van 11,4 miljard roepie (139,4 miljoen euro) tot 3,4 miljard roepie. Tata meldde 2,6 miljard roepie aan eenmalige lasten, maar gaf daarover geen details. De omzet steeg juist, van 32,8 miljard roepie tot 36,4 miljard roepie.

Volgens Tata presteerden de Indiase onderdelen van het bedrijf opnieuw sterk, terwijl de situatie in Europa verbeterde. Het bedrijf verscheepte in totaal bijna 6,5 miljoen ton staal in vergelijking met iets minder dan 6,1 miljoen ton een jaar eerder.

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