Eurobench.com

voda 29 oktober 2014 16:41

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Ambitious energy plan challenging European steel makers - EUROFER

The EU heads of state and government agreed on an ambitious European energy and climate policy framework for the period 2020 to 2030, including a CO2 emission reduction target of 43% by 2030 compared to 2005 levels for sectors covered by the EU Emissions Trading System. They also gave guidance that the EU ETS will at the level of most efficient installations not impose direct and indirect CO2 costs on globally competing European industries such as steel.

Mr Axel Eggert, acting DG of EUROFER said that “The new framework is an extremely challenging target for Europe’s industry in absence of similar constraints for our competitors worldwide. But the clear commitment by the heads of state to set safeguard measures at the level of the most efficient installations is a positive signal for industrial investment, growth and jobs in Europe.”

Mr Eggert said that “A profitable European steel industry benefits European society as a whole. It will be able to continue contributing to significant emission reductions in Europe. Our R&D network, our innovations, products and product applications, based on the skills of our employees, are the foundations for a low carbon, energy efficient and prosperous European society.”

The European Commission should now rapidly implement the safeguard measures and provide sectors at risk of carbon leakage with truly 100% free allocation at the level of the 10% most efficient installations, based on technically and economically achievable benchmarks, and based on real production instead of historic production levels. CO2 costs passed-through in electricity prices must be fully off set in all member states.

Mr Eggert said that “Those installations above the benchmark will have to buy additional allowances on the market. This gives them the right incentive to improve their carbon efficiency to the level of the benchmarks. If they go beyond those benchmarks by developing and applying innovative, economically viable technologies, they may set new, more ambitious benchmarks.”

Source – Strategic Research Institute

voda 29 oktober 2014 16:42

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Iron ore futures extend losses ahead of Chinese mill shutdowns

Reuters reported that iron ore futures fell for the second session running amid plentiful supply and slow demand ahead of temporary shutdowns or output cuts by Chinese mills as Beijing strives to curb pollution during an APEC meeting in Beijing next month.

Iron ore for May delivery on the Dalian Commodity Exchange was down nearly 1% at CNY 523 per tonne by midday. The December iron ore contract on the Singapore Exchange dropped 0.3% to USD 78.73 a tonne.

According to data compiled by The Steel Index, iron ore for immediate delivery to China .IO62-CNI=SI eased 0.3 percent to USD 79.60 per tonne on Monday. That was not far off the September trough of USD 77.50, which was the lowest price for iron ore since 2009.

At the end of the latest session, benchmark iron ore for immediate delivery to the port of Tianjin in China was trading at USD 78.80 a tonne, down 1 per cent from its previous close of USD 79.60.

Some steel mills in Hebei, China's top steel producing province, have been asked to reduce or suspend production during the Asia Pacific Economic Cooperation summit on November 7-12 to help improve air quality in the capital. Mr Lachlan Shaw analyst of Commonwealth Bank of Australia said that "We would expect modest steel production cuts for 2-3 weeks as part of efforts to 'clean Beijing's air' for the APEC meetings. This should reduce iron ore demand in the immediate term and likely mute the expected seasonal restocking into China's winter."

An iron ore trader in Shanghai said that "There's plenty of available supply in the market so nobody's in a hurry to look for a cargo or jump at an offer. We are very cautious on taking any long-term contracts right now because the market is very uncertain.

Traders said that iron ore has fallen 40 percent this year as big, low-cost miners in Australia and Brazil mined record volumes of iron ore to ship more to top market China, where steel demand was growing at a slower rate. They said that helping put a floor under iron ore prices was a sustained fall in stocks of imported iron ore at China's ports as mills sought out smaller cargoes.

Source – Reuters

voda 29 oktober 2014 16:42

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CISA sees iron ore hovering around USD 80

Mr Li Xinchuang, deputy secretary general of the China Iron and Steel Association said that iron ore is likely to hover around USD 80 per tonne in the long term discounting any sharp recovery in prices as a supply glut weighs on the market.

He said that “Personally I believe USD 70 is a bar, if iron ore price too low, huge mining investment will have a problem with profit return; every industry has a reasonable profit range. The current market is not prepared for any big increases in iron ore price and the price may properly swing around USD 80 in the future.”

Mr Li said that China has imported almost 700 million tonnes of iron ore in the first nine months of the year and is likely to import more than 900 million tonnes this year, compared to 820 million tonnes last year.

Source - www.steelhome.cn/en
China steel information centre and industry database

voda 29 oktober 2014 16:43

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Update on weekly raw steel production in USA

In the week ending October 25th 2014, domestic raw steel production was 1,835,000 net tonnes while the capability utilization rate was 76.3%. Production was 1,832,000 net tonnes in the week ending October 25th 2013, while the capability utilization then was 76.5%.

The current week production represents a 0.2% increase from the same period in the previous year. Production for the week ending October 25th 2014 is up 0.7% from the previous week ending October 18th 2014 when production was 1,822,000 net tonnes and the rate of capability utilization was 75.7%.

Adjusted year to date production through October 25th 2014 was 78,898,000 net tonnes at a capability utilization rate of 77.1%. That is up 0.5% from the 78,521,000 net tonnes during the same period last year, when the capability utilization rate was 77.0%.

Broken down by districts, here's production for the week ending October 25th 2014 in thousands of net tons: North East: 217; Great Lakes: 653; Midwest: 208; Southern: 670 and Western: 87 for a total of 1,835.

The Raw Steel production tonnage provided in this report is estimated. The figures are compiled from weekly production tonnage provided from 50% of the domestic producers combined with monthly production data for the remainder. Therefore, this report should be used primarily to assess production trends.

The AISI production report AIS 7 published monthly and available by subscription, provides a more detailed summary of steel production based on data supplied by companies representing over three quarters of US production capacity.

Source – Strategic Research Institute

voda 29 oktober 2014 16:44

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CISA encouraging offshore iron ore investments

Many people have a concern that China’s offshore iron ore investments will be hit by price low but Mr Deputy Secretary General encourages business to go out, as China will suffer enormous impact on steel industry without a long term, steady and diversified system.

Mr Li Xinchuang, deputy secretary general of the China Iron and Steel Association said “China is working on its first long term development blueprint for home iron ore industry when it is also trying to diversify import suppliers, hoping to secure resources and increase mineral utilization in domestic mining.”

Source - www.steelhome.cn/en
China steel information centre and industry database

voda 29 oktober 2014 16:47

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Japan's iron ore imports decreases in September

According to statistics released by Japan’s Ministry of Finance, Japan imported 11.9 million tonnes of iron ore in September, declining by 2.1% compared to the same month of last year.

The average price of iron ore imports was at JPY 12,482 per tonne down by 5.9% compared to the corresponding period of last year.

The country’s imports of iron ore registered an incline of 1% to 68.3 million tonnes during April to September compared to the same time of last year.

Source - www.yieh.com

voda 29 oktober 2014 16:48

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Great Lakes' iron ore shipments increases by 17.4percent

It is reported that iron ore shipments on the Great Lakes are up by 17.4% from this time a year ago.

Exactly 6.5 million tonne of iron ore have been shipped in each of the last 3 months.

And while that's good news for the United States, shipping from Canadian iron ore-ports has dropped by 20% in September.

Shipments to Quebec decreased by nearly 70% this shipping season thanks, in large part, to the closing of the Wabush Iron Ore Mine in Pointe Noire, Canada.

Source - www.northlandsnewscenter.com

voda 29 oktober 2014 16:54

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Steel prices to remain under pressure in coming winter season

With October coming to an end, winter is setting in as snowing has already started at many places in some parts of the world. Winter is traditionally regarded as sluggish period for steel mills due to slow down in activity and long Christmas holidays leading to substantial reduction in steel demand in many parts of the world.

The global steel market is at cross road with unprecedented slow down in Chinese steel sector and all are worried about the health of steel sector in coming months. While hope of recovery in prices is quite remote, the question is that have the steel prices touched the bottom or they will go down further?

Analysis of current FOB levels, costing and domestic price realization in China is throwing up some interesting numbers pointing to continued weakness in prices in coming months

Source – Strategic Research Institute

voda 30 oktober 2014 16:37

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Hogere winst Nippon Steel & Sumitomo Metal

DONDERDAG 30 OKTOBER 2014, 08:46 uur | 397 keer gelezen

TOKIO (AFN/BLOOMBERG) - Het Japanse Nippon Steel & Sumitomo Metal, het grootste staalconcern van Azië, is in het afgelopen kwartaal op een hogere winst uitgekomen, geholpen door de zwakkere Japanse yen. Dat maakte het bedrijf donderdag bekend.
De winst in het tweede kwartaal van het gebroken boekjaar klom met 22 procent naar 63,9 miljard yen (46,5 miljoen euro) in vergelijking met een jaar eerder. Voor het gehele jaar rekent het bedrijf dat ontstond uit de fusie van Nippon Steel en Sumitomo Metal Industries in oktober vorig jaar op een winst van 250 miljard yen. Daarmee voldoet het concern aan de verwachtingen.

voda 31 oktober 2014 16:11

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voestalpine to build new special steel plant in China

The technology and capital goods group voestalpine is again driving forward its activities in the promising Asian market. The Special Steel Division, the Group’s special steel sector, signed a Letter of Intent to cooperate with Chinese foundry Kocel Machinery Company Limited. Over the next few years voestalpine will invest around EUR 140 million, constructing a new plant which will produce premium special steel products for the Chinese market. Construction is scheduled to start in 2015, and the new company will create 400 jobs.

The voestalpine Group is expanding its special steel activities in the promising Chinese market, targeting the Chinese premium market with its EUR 140 million investment in Yinchuan (Ningxia province). Working together with local company Kocel Machinery Company Limited, the new special steel plant is scheduled for completion by the end of 2017. It will produce highest-quality tool steels and forged materials for the automotive, consumer goods, and mechanical engineering industries.

Mr Franz Rotter, Member of the Management Board of voestalpine AG and Head of the Special Steel Division said that “This investment is another important step in fulfilling our internationalization strategy. We can set new standards in China with our know how, particularly in the premium special steel segment, and extend our leadership position in the high-alloyed tool steel sector further.”

Source – Strategic Research Institute

voda 31 oktober 2014 16:12

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China steel futures inch up on Thursday

Reuters reported that iron ore prices dipped further overnight, with little sign that Chinese buyers would risk big purchases, faced with uncertain demand and the risk of steel capacity cuts for environmental reasons when a global summit is held in Beijing in November.

However, steel and iron ore futures continued to rebound on Thursday, with the most traded rebar contract on the Shanghai Futures Exchange ending the day at CNY 2,590 (USD 423.6) per tonne, up 1 percent.

The most active iron ore contract on the Dalian Commodity Exchange also rose 2.3 percent to CNY 536, reflecting improved sentiment after China's cabinet announced measures on Wednesday designed to stimulate consumption in sectors such as housing and new energy.

Source – Reuters

voda 31 oktober 2014 16:13

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ThyssenKrupp Italian workers injured in clash with police

Reuters reported that at least three people were injured in clashes with police in Rome on Wednesday as union officials and workers from a ThyssenKrupp AG steel plant in central Italy marched to protest against planned job cuts.

The German industrial group said earlier this month it would cut 550 jobs at the factory, but Prime Minister Mr Matteo Renzi's government is seeking to mediate a last-ditch compromise.

Police in riot gear confronted protesters near the German embassy, where a delegation of workers had earlier met with an embassy official.

Mr Marco Bentivogli, secretary of the Cisl union whose members include some of those at the steel plant, said that four workers and an unspecified number of union officials were injured in what he called an unjustified charge by police against a peaceful march.

Lawmaker Giorgio Airaudo, a former union official, said that in a Tweet a total of five had been injured by police clubs.

Police said that they had been forced to stop an attempt by protesters to break through a cordon and occupy the central train station. While three protesters were taken to hospital for treatment, some officers had been hit by bottles and rocks.

The government, focus of a union rally against proposed labour market reforms at the weekend, said it remained committed to dealing with the crisis at ThyssenKrupp's Acciai Speciali Terni plant.

Source – Reuters

voda 31 oktober 2014 16:15

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Iron ore inventory declines slightly at Chinese ports

As of October 27, inventory of iron ore at 33 major Chinese ports amounted to 101.97 million tonnes down 1.71 million tonnes or 1.7% compared to the inventory level recorded on October 20,.

As of the same date, the Xinhua China Iron Ore Price Index for imported iron ore with 62% iron content was at 80 points, remaining stable week on week. Meanwhile, the Xinhua China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 71 points on the date in question, up one point week on week.

At the beginning of the given week, iron ore futures prices at Dalian Commodity Exchange indicated a sharp rise, pushing up imported iron ore prices in the spot market. However, due to a lack of support from demand, the uptrend quickly came to a halt.

Since Wednesday of the given week, traders have mostly been maintaining a wait and see stance, with slack transaction activity dragging down imported iron ore prices again. Currently, domestic steelmakers' capacity utilization rates are at normal levels, while their inventories of raw materials are plentiful.

The downtrend in finished steel prices has exerted a negative impact on iron ore prices. It is expected that prices of imported iron ore in the Chinese market will move on a downtrend in the coming week.

Source - Visit www.steelorbis.com for more

voda 31 oktober 2014 16:17

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Canada's iron ore exports decline in Aug

Canada exported some 3.43 million tons of iron ore in August down from 4.45 million tonnes in the previous quarter.

The export price of iron ore was averaged at USD 99.7 per tonne also down from USD 102.7 per tonne in July.

Among them, exports of iron ore from Quebec totaled 2.16 million tonnes, accounting for 63% in total. Exports from New Foundland & Labrador totaled 1.27 million tonnes accounting for 37% in total.

Source - www.yieh.com

voda 31 oktober 2014 16:17

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Turkish iron ore imports soars in Aug - TUIK

According to statistics released by the Turkish Statistical Institute, Turkey’s iron ore imports totaled 951,741 tonnes in August, surging by 51.4% in comparison to the same month of 2013.

In the month, Brazil was the largest iron ore exporter to Turkey with 338,501 tonnes dropping by 0.75% compared to the figures in the same period of 2013. Russia was the second largest one with 306,160 tonnes.

The country’s import value generated by iron ore totaled USD 199 million, up by 27% YoY.

Source - www.yieh.com

voda 31 oktober 2014 16:18

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Usiminas sees the drop in domestic steel production and consumption

BNamericas reported that Brazilian steelmaker Usiminas sees the drop in domestic steel production and consumption, together with a slump in international iron ore prices as the most serious challenges facing the country's steel industry.

Mr Romel Erwin de Souza acting CEO of Usiminas said that "Tight margins give us no option but to stay focused on increasing efficiency and sales volumes, reducing costs and improving the quality of our products and services. Its mining unit's net revenue was down 47% to 107.4mn reais in Q3, QoQ due to lower sales volumes and lower iron ore prices.”

Net revenue for Usiminas' steel business, meanwhile, dropped 8.3% compared to the previous quarter, mainly due to the higher share in sales of exports and an increase in the sale of lower value-added products.

Mr Erwin de Souza said that "We're well prepared to face current market conditions and hope to turn things around through cost adjustments, market knowledge and quality.”

Source – Business News Americas

voda 31 oktober 2014 16:19

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POSCO starts construction on Thailand automotive steel sheet plant

South Korean steel maker POSCO has started construction on an automotive steel sheet plant in Thailand which is expected to be completed by 2016.

The plant will be producing galvanized steel sheet for automotive applications and the plant will have a production capacity of 450,000 tonnes per year.

The company said that Thailand is developing into biggest automotive production base in Southeast Asia with production capacity increased to 3.2 million vehicles.

POSCO found it difficult to export automotive steel sheets to Thailand which triggered its move to build the factory at the Amata City Industrial Complex in Bangkok, Thailand. The facility will produce GI (Galvanized Steel) and GA (Galva annealed Steel) that will be supplied to local automakers and automotive suppliers.

Mr Han Kwang heum CEO of POSCO-TCS said that "We will ensure the stably supply of quality automotive steel sheet and expand our close partnership with local automakers in a bid to take the initiative in the Southeast Asian automotive steel sheet market."

Source – Paints Materials

voda 31 oktober 2014 16:21

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United States Steel declares dividend

United States Steel Corporation announced that the Board of Directors declared a dividend of five cents per share on US Steel Common Stock. The dividend is payable December 10th 2014, to stockholders of record at the close of business November 12th 2014.

Source – Strategic Research Institute

voda 31 oktober 2014 16:24

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Iran boosts steel output in Jan-Sep

It is reported that Iran, the biggest producer of crude steel in the Middle East produced around 12.06 million tons of steel products in the first nine months, up by 6.6% compared to the same period of last year.

In September alone, Iranian crude steel production amounted to 1.42 million tons, up by 4.8% YoY.

In the country's Fifth Five Year Development Plan (2015), the production output is projected to increase to 55 million tonnes by 2025.

Source - www.yieh.com

voda 31 oktober 2014 16:25

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Italian CLN Group signs preliminary contract to merge with steel giant - Report

Unconfirmed reports from market sources said that Italian CLN Group, one of the world leader in supplying the automotive industry and specialized in producing and assembling steel automotive structural parts with 26 production plants spread in Italy, Europe, South America, Africa and Asia, has signed a preliminary contract with a steel giants distribution & services division in Italy for merging the 2 companies.

Official announcement is yet to come on their web sites

Rumors are indicating that the CEO of the Newco will be CLN present CEO and co owner Mr Gabriele Perris Magnetto and that top management positions will also be held by CLN key managers.

However implementing and organizing the Newco structures will not take place before mid of next year, waiting for the necessary EU Anti-trust green light and other accomplishment of national regulations.

This Newco will definitely change the scenario of the Italian distribution market as the combined output (without considering CLN automotive, wheels and blanking divisions) should reach close to 1 million tonnes of “worked” steel products.

SteelGuru, citing unconfirmed reports from market, had reported on 24 Aug 2014 of a possible merger of a major industrial group in Italy with a steel giant thus paving way for further inroads in Italian steel sector by the steel giant, improving possibilities of acquiring some ailing steel plants

CLN is an Italian company with the head quarter in Turin, specialized in supplying the automotive industry. With a turnover of about EUR 1.54 billion and 8,400 employees and production units or offices in more than 20 countries around the world, CLN is one of the world leader in working, stamping and assembling steel and metallic components for the automotive industry.

The company has been established by Mario Magnetto during the 60’s as supplier of worked steel sheets to FIAT. From there CLN was rapidly expanding also thanks to strategic collaboration with steel producer erstwhile Arcelor and now ArcelorMittal have a participation since the 70’s and Japanese trading giant Marubeni Itochu Steel has acquired 10% of CLN last year.

CLN Group is including 3 divisions:

MA (Magnetto Automotive) - The automotive division - MA is the Group Company specialized in producing and assembling steel automotive structural parts, components, subassemblies and modules. has units in Italy but also in South America (Argentina and Brasil), France, Serbia, Poland, India, Turkey and South Africa and today manages 26 production plants and 3 Research and Development Centers. It is supplying worked steel sheets to all major automotive industries such as FIAT, Bmw, Daimler, Volvo, PSA, GM, Mercedes and is covering the 60% of Group total turnover.

MW (Magnetta Wheels) - The wheels division, MW is a steel wheel market leader for all vehicle types and one of the leading manufacturers of motorcycle cast spoke wheels. Each model is designed, tested and manufactured with the guarantee of top safety standards for producer personnel and vehicle users. Its 11 production plants located in Europe, Turkey, South Africa and Asia have a yearly production capacity of 21 million pieces.

CLN SSC - The network of service centres
CLN SSC is the backbone of the history and development of the Group’s activities. The Division is present in the transformation and distribution of flat steel market for various uses, and from the automotive to the domestic appliances market and many other general areas of industry where steel is used.

Recently CLN has created a joint venture with Baosteel in China, from where about 3.5 million of wheels per year are produced.

Source – Strategic Research Institute

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