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voda 4 november 2014 16:55

Increasing exports from Japan steel mills to further pressure prices

Reuters reported that Japan's top steelmakers reported higher first half earnings last week, but slowing demand and bloated stockpiles could push them to sell more overseas, adding to a global glut pushing down prices further

Nippon Steel & Sumitomo Metal and JFE Holdings respectively, said earlier last week they expect a pickup in building and vehicle sales but analysts were not so sure the domestic market will strengthen enough to cut inventories which stood at a 13 year high at the end of September. And steelmakers are slowly turning to overseas markets.

Mr Keiju Kurosaka, senior analyst at Mitsubishi UFJ Morgan Stanley said that "The biggest worry is the output adjustment by automakers. There is a risk that spot product prices will fall into a downward spiral. They don't want to cut output because it would boost their fixed costs. They would rather step up exports.”

Nippon Steel and JFE plan to boost crude steel output to 46.1 million tonnes and 29.2 million tonnes, respectively, the highest since 2007 before the start of the global financial crisis.

Japan's exports of steel products rose for the first time in 13 months in September to 3.74 million tonnes, competing with a flood of Chinese steel.

Prime Minister Mr Shinzo Abe's sales tax hike in April has hit economic growth and consumer spending harder than expected, hurting sales in two sectors important for steelmakers, automotive and construction. In a stark admission of the tax hike's harsh impact, the Bank of Japan surprised global financial markets on Friday by expanding its massive stimulus spending. Doubts, however, remained on how effective the move will be.

Source – Reuters

voda 4 november 2014 16:59

ArcelorMittal Ostrava simplifies its corporate structure as merges with ArcelorMittal Frydek Mistek

ArcelorMittal Ostrava has simplified its corporate structure and streamlined its internal processes, principally through a merger with its subsidiary, ArcelorMittal Frydek Mistek a cold rolling mill that mainly produces electrical steels.

The changes, which took effect on November 1, will not affect employees or the rolling mill in Frydek Mistek, which has had a close link with the local town since 1833. ArcelorMittal Frydek Mistek will now operate under the commercial name of ArcelorMittal Ostrava.

As well as its steel rolling plant, ArcelorMittal Frydek Mistek also operates a cold rolling mill (Valcovna za studena) in Ostrava Vitkovice, which is located on the premises of Vítkovice Steel. As a result of the changes announced today, major parts of the cold rolling production activities in Ostrava Vitkovice have been transferred from Vitkovice to ArcelorMittal Frydek Mistek. All 82 employees have moved to other production positions within ArcelorMittal Ostrava, either in Ostrava Kuncice or Frydek Mistek.

In recent years, ArcelorMittal Ostrava has increased its focus on production of high value added products. This is associated with a series of recent investments in order to change the product portfolio. The mill has expanded its portfolio to include higher quality vacuum-treated steel used in the gas and oil industry as well as for bearings and railway wheels, weathering steel, pipes with special coatings, lighter safety barriers and safety barriers for protection of motorcyclists and numerous other products. This year’s production innovation includes the manufacturing of threaded bars for civil engineering.

Mr Tapas Rajderkar, the CEO and chairman of the board of directors of ArcelorMittal Ostrava said that “The simplified structure and consolidation of processes within the ArcelorMittal Ostrava group should result in cost optimisation and improved production efficiency for the company. The changed structure of the former ArcelorMittal Frydek Mistek company including the merger with the parent company will bring benefits in the area of consolidation of internal processes, management of material flows, consolidation of services, and overall streamlining of the administration.”

Source – Strategic Research Institute

Belegger1974 4 november 2014 18:07

Ik ben er helemaal KLAAR mee!

Belegger1974 4 november 2014 18:17

Ik heb het gevoel dat wij vrijdag vet down gaan.

Porscheknakker 4 november 2014 18:34

Kopen als het bloed door de straten vloeit, Belegger1974.
Ik denk, dat het wel mee zal vallen a.s. vrijdag.
Er wordt niets verwacht van AM, dus kan het alleen maar meevallen.

voda 4 november 2014 20:17

ArcelorMittal levert staal voor stadion

DINSDAG 4 NOVEMBER 2014, 20:12 uur | 1 keer gelezen

LUXEMBURG (AFN) - ArcelorMittal levert staal voor de bouw van het nieuwe voetbalstadion in Bordeaux. Dat meldde de staalfabrikant dinsdag.

In het frame van het stadion wordt 12.000 ton staal gebruikt. Dat is twee keer meer dan in de Eiffeltoren. De bouw wordt naar verwachting in april volgend jaar afgerond. Bordeaux is een van de speelsteden van het EK voetbal 2016.

Belegger1974 4 november 2014 22:05

quote:
voda schreef op 4 november 2014 20:17:
ArcelorMittal levert staal voor stadion

DINSDAG 4 NOVEMBER 2014, 20:12 uur | 1 keer gelezen

LUXEMBURG (AFN) - ArcelorMittal levert staal voor de bouw van het nieuwe voetbalstadion in Bordeaux. Dat meldde de staalfabrikant dinsdag.

In het frame van het stadion wordt 12.000 ton staal gebruikt. Dat is twee keer meer dan in de Eiffeltoren. De bouw wordt naar verwachting in april volgend jaar afgerond. Bordeaux is een van de speelsteden van het EK voetbal 2016.

Dit is al de duizendste positieve bericht sinds een jaar en daarbij komt bovenop ook nog een tientallen koopadviezen van grote analisten en toch is de koers van 13 euro gedaald tot 9,70 euro sinds een jaar. Hoe verklaar je dit?

voda 4 november 2014 22:24

quote:
Belegger1974 schreef op 4 november 2014 22:05:
[...]

Dit is al de duizendste positieve bericht sinds een jaar en daarbij komt bovenop ook nog een tientallen koopadviezen van grote analisten en toch is de koers van 13 euro gedaald tot 9,70 euro sinds een jaar. Hoe verklaar je dit?

Ik denk slechts een enkeling, of groep(je) zéér machtigen.
Zegt Illuminatie je iets... etc.

Porscheknakker 4 november 2014 22:33

quote:
voda schreef op 4 november 2014 22:24:
[...]
Ik denk slechts een enkeling, of groep(je) zéér machtigen.
Zegt Illuminatie je iets... etc.

Dat zeg ik al maanden. Manipulatie !!
Daar kunnen wij kleintjes niets tegen inbrengen.

[verwijderd] 4 november 2014 22:37

quote:
330ix schreef op 4 november 2014 22:33:
[...]

Dat zeg ik al maanden. Manipulatie !!
Daar kunnen wij kleintjes niets tegen inbrengen.

Dit geloof ik niet. Wat ik zie is dat een aantal teveel houd van dit aandeel en er geen afscheid van kan nemen. oogkleppen, roze bril, verlatingsangst... you name it!! Maar zeker geen manipulatie of illuminati o.i.d.

Belegger1974 5 november 2014 09:04

TFOE! Aex vet in de plus en AM WEER IN HET ROOD! En ook de laagste!

Porscheknakker 5 november 2014 13:11

Ga er maar van uit dat dit morgen ook gebeurt.

Belegger1974 5 november 2014 15:50

Vies aandeel!

voda 5 november 2014 16:36

Iron ore levels drop to 5 year low amidst poor economic indicator in China

The price of iron ore at world’s biggest consumer China dropped to a new low on Tuesday, lasts seen nearly 5 years ago in 2009, reflecting increasing negative sentiment in global steel sector

The most active iron ore contract on the Dalian Commodity Exchange dipped 1.3 percent to close at CNY 520 per tonne.

The January contract on the Singapore Exchange slipped 0.7% to USD 76.31 a tonne.

According to data compiled by The Steel Index, iron ore for immediate delivery to China .IO62-CNI=SI fell 0.9 percent on Tuesday to USD 77.10 a tonne, its lowest since September 2009

According to the data compiled by SteelGuru’s Market Intelligence Services PS14, spot prices of almost all grades/types/origins of iron ore CFR China have lost at least USD 1 in the first 2 days of this week

Stockpiles of imported iron ore at 33 major Chinese ports surged 1.44% WoW as of November 3rd 2014. According to the Xinhua-China Iron Ore Price Index (Xinhua-China IOP Index), iron ore inventories at the 33 ports rose by 1.47 million tonnes to 103.44 million tonnes,

Without any signs any improvement in the country's overall economic growth outlook, with China's official Purchasing Managers' Index (PMI) dropping to a five-month low in October. China's PMI for the iron and steel sector rose to 46 points in October, up 2.4 points on the month but still under the 50-point level that divides growth from contraction, according to data cited by the official Xinhua news agency on Sunday. As a result the growth in steel demand continues to dip keeping domestic steel prices in downward spiral.

The iron ore price is also being influenced negatively by short term factors as Beijing gears up to host the Asia Pacific Economic Cooperation summit. The Chinese capital and environs are imposing the most stringent pollution controls since the 2008 Summer Olympics to curb smog during the meeting of global leaders. Steel mills in Hebei province are temporarily shutting off production, exacerbating the iron ore price declines. But it is estimated that only about 3% production would be shut down

voda 5 november 2014 16:36

Port Hedland iron ore exports to China climb as supplies expand

Bloomberg reported that iron ore shipped to China from Australia’s Port Hedland, the world’s biggest bulk export terminal, climbed last month as suppliers increased output and mine shutdowns in China boosted demand for seaborne ore.

According to port authority data, shipments rose to 31.7 million tonnes in October from 29.8 million in September and 25.2 million a year earlier. That’s near the record 32 million tonnes reached in August. Total exports rose to an all time high of 37.5 million tonnes from 36.3 million in September and 28.9 million in October 2013.

Iron ore lost 42% this year as companies including BHP Billiton Limited, Fortescue Metals Group Limited and Vale SA raised low cost output in Australia and Brazil, spurring a global glut and forcing some capacity in China to close.

There’s a risk the collapse in prices may have further to run as supplies mount, according to Moody’s Investors Service, which said it may cut producers’ ratings.

Mr James Wilson, an analyst at Morgans Financial Ltd said that “The Australian miners are pumping out more products. There might be improved demand. Part of the reason is probably because Chinese miners are underwater at current prices as well.”

According to government data, Port Hedland is part of the Pilbara Ports Authority and handles output from BHP, Fortescue Metals, Australia’s third-largest producer, and Atlas Iron Ltd. Shipments through Port Hedland represented 55% of the country’s iron ore exports last year and a quarter of global seaborne supply.

China, which purchases about 67% of seaborne ore, is on course for the slowest full year growth since 1990. HSBC Holdings Plc sees Chinese iron ore output tumbling 30% to 236 million tonnes next year.

Source – Bloomberg

voda 5 november 2014 16:38

US Steel layoff's more to come - Warns union

It is reported that at least 56 people are affected as a direct result of last week’s announcement that one of the coke ovens would be closed indefinitely.

The Steelworker’s union warns more layoffs could follow in the coming weeks when the by product and waste water treatment units shut down.

Only about 600 people remain employed at the Hamilton plant, as the company moves forward with a court monitored restructuring.

Source – 900chml

voda 5 november 2014 16:38

Brazil posts slumping iron ore export revenue

According to the foreign trade department Secex, Brazil's iron ore exports fell 41.3% YoY in October to USD 1.89 billion,

In terms of volume, iron ore shipments fell 2.3% to 31.8 MT. The average sale price decreased 40% to USD 59.50 per tonne. Flat rolled steel exports increased 72.9% to USD 167 million, as volumes rose 114% to 240,700 tonnes. The average sale price fell 19.2% to USD 694.70 per tonne.

Exports of semi manufactured iron and steel products rose 9.9% to USD 301 million with volumes jumping 12.3% to 631,500 tonnes and prices falling 2.1% to USD 477.20 per tonnes.

Source – Business News Americas

voda 6 november 2014 17:02

TATA Steel likely to expand Jamshedpur steel capacity

DHNS reported that TATA Steel is eyeing expansion of its Jamshedpur crude steel capacity to 11 million tonnes per annum from 9.7 million tonnes per annum currently.

The report said that “TATA Steel has filed for Terms of Reference (ToR) with the Expert Appraisal Committee (EAC) for expanding its Jamshedpur crude steel capacity to 11 million tonnes per annum.

Sources said that EAC has sought some clarifications on the existing capacity before it considers the proposal further."

Sources added that 2 of the existing blast furnaces will be revamped for expanding the facility and the coke requirement for the expansion will be met via current coke capacities.

Currently, Jamshedpur comprises of a 9.7 million tonne per annum crude steel production facility and a variety of finishing mills.

The Kalinganagar project is underway and set to augment production capacity by 3 million tonne per annum in the first phase. The company is also planning 2 new greenfield steel projects in Jharkhand and Chhattisgarh.

Source - DHNS

voda 6 november 2014 17:05

RINL aims to 10pct higher production in this year

Hudhud-hit Rashtriya Ispat Nigam hopes its crude steel production will go up by at least 10% in the current fiscal to over 3.5 million tonnes compared to last year despite 10 days of zero production last month due to the devastating cyclone.

Mr P Madhusudan CMD of RINL said that "Swinging into action following the devastating cyclone that hit us on October 12th, production in our plant is now in full swing. We hope to produce a minimum of 10% more than what we did in the last fiscal."

Clocking its highest-ever saleable steel production, the state-owned firm had produced 3.2 million tonne in the last fiscal and with the projected 10% growth in output, it would be a little over 3.5 million tonne, which would again create a record of sorts.

The cyclone had hit the operation of the company's lone steel-making facility at Vizag in Andhra Pradesh resulting in a complete halt of production for 10 days last month. However, it started operation in phases after that and now production in all units, including rolling mills has been revived.

The company's crude steel production in the first seven months of the current year was at 1.862 million tonne compared to 1.774 million tonne in the corresponding period of the last fiscal, as production was hit last month by the cyclone.

Mr Madhusudan said that "However, the RINL collective is working hard to make up for the shortfall and achieve the target of 10% growth in production for the current fiscal. We will achieve the set target."

Source – PTI

voda 6 november 2014 17:07

Rumours of VAT rebate removal/reduction on boron added steel exports gaining ground in China

While the news of Chinese government’s action to clamp down circumvention of steel export policies by most of the steel mills as boron added has been circulating for quite some time, it seems to be gaining strength this week.

As per latest reports, some of the Chinese steel exporters have raised red flag during negotiations for new deals that the VAT rebate structure may undergo change. It seems that the sellers want the buyers to agree to share the extra burden amount, which most buyers would not agree as not only the extent of extra burden is not known but changes the import vis- a-vis domestic sourcing dynamics

Chinese mills have stepped up steel exports in last 6 months to India to almost 1 million tonnes up by 111% YoY mostly by circumventing the export tax for some products and availing VAT rebate by changing classification to alloy steel by adding 0.0008% Boron

Given below is the existing export tax and VAT rebate on some steel products from China and total benefit on boron added steel exports….

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