Eurobench.com

voda 20 november 2014 16:38

0

Update on weekly raw steel production in USA

In the week ending November 15th 2014, domestic raw steel production was 1,854,000 net tonnes while the capability utilization rate was 77.1%. Production was 1,826,000 net tonnes in the week ending November 15th 2013, while the capability utilization then was 76.2%.

The current week production represents a 1.5% increase from the same period in the previous year. Production for the week ending November 15th 2014 is up 0.8% from the previous week ending November 8th 2014 when production was 1,839,000 net tonnes and the rate of capability utilization was 76.5%.

Adjusted year to date production through November 15th 2014 was 84,406,000 net tonnes at a capability utilization rate of 77.1%. That is up 0.5% from the 84,006,000 net tonnes during the same period last year, when the capability utilization rate was 76.9%.

Broken down by districts, here's production for the week ending November 15th 2014 in thousands of net tonnes: North East: 238; Great Lakes: 662; Midwest: 232; Southern: 635 and Western: 87 for a total of 1,854.

The Raw Steel production tonnage provided in this report is estimated. The figures are compiled from weekly production tonnage provided from 50 percent 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 20 november 2014 16:40

0

Brazilian crude steel production rebounds

The industry association said that Brazil’s production of crude steel grew 2.7% last month compared with October 2013, following six consecutive months of flat or declining output.

The Brazil Steel Institute said that output totaled 3.05 million tonnes in October as the sector enjoyed its best month since March. Production of flat steel, however, fell 6.5% to 2.13 million tonnes.

Brazil, Latin America’s largest steel producer, turned out 28.6 million tonnes of crude steel in January to October, off 0.7% from the same period last year. At 20.9 million tonnes output of flat steel is down 5% from the first 10 months of 2013.

Domestic sales of steel products plunged 10.6% in October to 1.8 million tonnes, bringing the year to date total to 17.7 million tonnes, a decline of 8.7% from the comparable period in 2013.

Brazil’s steel exports by value climbed 17.6% in the first 10 months of 2014 to USD 5.53 billion. Foreign sales surged 30.1% in October to USD 665.4 million.

Source - www.laht.com

voda 20 november 2014 16:41

0

Rio Tinto's new AUD 3.5 billion iron ore mine approved

Western Australia’s environmental authority has approved Rio Tinto’s plan to build a massive new iron ore mine in the Pilbara.

The Koodaideri mine would be located 110 kilometers north west of Newman and is expected to have a 30 year life span.

According to documents filed by Rio subsidiary Mount Bruce Mining, the mine is expected to produce 35 million tonnes of ore a year, before a ramp up by 2030 which will see that figure increase to 70 million tonnes a year.

The mine would require a new 167 kilometer railway to be built in order to connect the mine to Rio’s Dampier Tom Price line. New roads, power sources, water infrastructure and FIFO village facilities would also be need to be constructed.

Up to 2,000 people would be needed to build the mine while 700 workers would be required for the mine's operation. The estimated price tag for the mine and rail development is USD 3.2 billion.

The Environment Protection Authority said that the mine could go ahead subject to 14 conditions including measures to protect local bat and quoll colonies. It also wants to ensure that the mine does not increase the spread of asbestos in the environment.

The proposal is open to a two week public appeals period before being sent to WA’s Minister for Environment Albert Jacob for final approval.

The EPA’s approval comes one the same day as the price for iron ore hit its lowest point in five years. Dropping 4% overnight, the commodity is trading at USD 72.10 per tonne.

However, with a production cost of just over USD 20 per tonne, Rio is shielded from price drops, and plans to expand its exports out of the Pilbara from the current 270 million tonnes a year to 360 million tonnes a year.

Source – Mining Australia

voda 20 november 2014 16:42

0

Turkish iron ore imports up 2.8pct in Jan-Sept

According to the statistics provided by the Turkish Statistical Institute, in September this year, Turkey's iron ore imports totaled 842,553 tonnes, decreasing by 11.5% compared to August and up 51.3% YoY. The value of these imports amounted to USD 100.06 million, down nine percent month on month and increasing by 20.9% YoY.

Meanwhile, in the January to September period of the current year, Turkey's iron ore imports increased by 2.8% to 6.34 million tonnes while the value of these imports totaled USD 832.05 million, down 5.3% both on YoY basis.

In the first nine months of this year, Turkey's iron ore imports from Brazil increased by 14% YoY to 2.37 million tonnes. Brazil was followed by Sweden which supplied 1.32 million tonnes up 22.5% while Turkey's iron ore imports from Russia in the given period amounted to 1.18 million tonnes up 20.9% both on YoY basis. Meanwhile, in September alone, Turkey's top iron ore source was Brazil with 335,182 tonnes.

Source -Visit www.steelorbis.com for more

voda 21 november 2014 14:23

0

ArcelorMittal advies omlaag naar sell, koersdoel naar EUR8,50 - Market Talk

AMSTERDAM (Dow Jones)--ABN Amro verlaagt het advies voor ArcelorMittal (MT.AE) naar sell van hold en het koersdoel naar EUR8,50 van EUR11,50, omdat de analisten voor 2015 margeverlaging verwachten. en vinden dat de overwaardering van het aandeel in de sector, in de huidige marktomstandigheden met aanhoudend overaanbod aan ijzererts en schroot, niet meer gerechtvaardigd is. Ze voorzien importdruk in de VS, zwakke binnenlandse vraag in Brazilie, traag marktherstel in Europa, en geen herstel van de ijzerprijs. De analisten verlagen hun EBITDA-taxaties voor 2014-2016 met respectievelijk 6%, 17% en 19%. Omstreeks 12.15 uur noteert het aandeel 5,1% hoger op EUR9,98, terwijl de AEX met 1,1% stijgt. (BTK)

Dow Jones Nieuwsdienst: +31-20-5715200; amsterdam@dowjones.com

voda 21 november 2014 14:58

0

JSW Steel on track to achieve sales target of 12.4 million tonne in 2014-15

Below is the verbatim transcript of Seshagiri Rao's interview with Ms Reema Tendulkar & Ms Nigel D’Souza on CNBC-TV18.

Ms Nigel - There is lot of talk with regard to various restrictions that are going to be put on imports to protect our steel industry. Have you heard anything with regard to that and how material this impact will be with regard to our domestic steel industry?

A - There is a huge amount of import threat to India. In the first seven months of the financial year, the imports into India have grown by 40% and also the imports from China is more than double. So, the imports which are coming in are coming in the wrong classification, particularly long products. Hence, there is a need to look at imposing certain restrictions as far as imports into India is concerned; secondary, defective, long products which can be produced in India at a very competitive cost when the dumping is happening from overseas. There is a need for the Indian government to look at restraining dumping of steel products into India.

Ms Reema - I have a question on pricing – in Q2 your average realisation stood at around INR 765 per tonne. In the month of October the company cut the prices of long products as well as flat and in your various interactions you have indicated that the company could cut prices even further. What is the outlook on your average realisations in Q3 as well as in Q4? How much lower could it go compared to the levels that we saw in Q2?

A - There is a pressure on prices. Internationally, iron ore and coal prices are coming down. Iron ore prices this morning were USD 71; USD 4 lower than yesterday. Therefore, continuously raw material prices are coming down. It has an impact on steel process globally. The same thing will be there in India also. India has to price its product for steel based on the landed cost of imports. So considering that the steel prices in India also is adjusting inline with the global prices so the adjustment is happening downwards in India.

Ms Nigel - Given that iron ore prices now are down to around USD 70 per tonne approximately, what is the current target that you have with regards to importing your total iron ore requirement that is in percentage terms and if it dwindles down further, do you think you are going to increase that proportion?

A - The Indian iron ore prices have a divergent trend. When international prices are falling, in India the prices are going up and even if you see the NMDC, they have not reduced the prices for iron ore finds but they reduced for the lumps whereas these private mining companies particularly in Orissa have increased the prices of iron ore. The first issue is the non-availability of iron ore in India and secondly the prices are increasing for iron ore when international prices are falling by 40% to 50% in the international markets. So in that context, the JSW Steel is resorting to more import of iron ore. So in this month, we will be importing close to 9 lakh tonne, which is approximately 40% of our total requirement.

Source – Money Control

voda 21 november 2014 15:10

0

Latin America finished steel imports from China grow

In January to September 2014, China shipped 6 million tonnes of finished steel to Latin America, 54% more than the 3,9 tonnes registered during the same period of 2013.

Highlights
1. Between January to September 2014, China exported a total of 58 million tonnes of finished steel. Of that volume, 6 million tonnes arrived to Latin America.
2. The volume received by Latin America from China grew 54% as compared to the first nine months of 2013. During the same period, the flow to the world grew 10 points less (+44%).
3. The region consolidates as second destination with a 10.3% share (vs. 9.7% in January to September 2013)
4. In the context of its Annual Congress in Mexico City, at the beginning of this month, Alacero insisted on the need of Latin American governments immediate action to face a competitor that establishes its production and trade on the base of SOEs and government subsidies.

Meanwhile, total finished steel exports from China continue to grow steadily (but at a slower pace than shipments to Latin America) and reached 58 million tonnes between January to September 2014, a 44% increase YoY.

Latin America consolidates as second main destination, expanding its share of finished steel exports from China from 9.7% to 10.3% from January to September 2013 to January to Septamber 2014. The region is surpassed only by South Korea that received 9.3 million tonnes (a share of 14%) during the period.

In September 2014, Latin America received 610,787 tonnes of finished Steel from China, 15% less than August 2014 (714,609 tonnes) but 46% more than September 2013 (409,116 tonnes).

Chinese finishedsteel imports by destination;
The main Latin American destinations for Chinese finished Steel between January to September 2014 were: Brazil that received 1.5 million tonnes (25% share of the regional flow); Chile that reached 946,325 tonnes (16% share); and Central America, with 835,776 tonnes (14% share). (Graph 02).

During these nine months, the most important percentage growths of finished steel imports from China vs same period of 2013 were registered in: Argentina (+136%), Mexico (+136%), Paraguay (+123%) and Colombia (+103%). Nonetheless, Argentina and Paraguay display reduced levels of imports.

Mexican imports of finished steel continue to show a constant increase. The country received 520,782 tonnes during the first nine months of 2014 (9% share of the regional imports of Chinese steel) and consolidates as the sixth regional destination, reaching almost the same volume than Colombia.

Imports from China by products;
Flat steel represented 67% of the finished steel imported from China to Latin America during Jan/Sep 2014 and reached 4 million tons. Among flat steel, the most imported products were:
1. Other alloy steel coils and sheets (1.5 million tons, 38% of the flat steel imported from China)
2. Hot Galvanized Steel (834,464 tonnes, 21%)
3. Cold rolled coils (787,941 tonnes, 20%).

Long steel imports from China to Latin America reached 1.6 million tonnes, mostly concentrated in:
1. Rod wire (869,938 tonnes, 54% of long products imports)
2. Bars (572,129 tonnes, 36%).

Unfair trade actions;
These increasing imports from China in a context were consumption remains stable and local industry is being damaged by the dumping and subsidies practices have triggered a series of actions by Latin American producers in order to ensure that regional trade is in line with WTO regulations. In the finished steel market, currently, there are 11 complaints and requests against Chinese unfair trade practices (35% of the ongoing actions in the region). On the other hand, there are 9 measures in forcé against China.

Source – Strategic Research Institute

voda 21 november 2014 15:24

0

ThyssenKrupp generates net profit again for the first time in three years

For the first time in three years the Essen-based industrial and technology group has generated a net profit. In the 2013/2014 fiscal year ThyssenKrupp achieved net earnings of EUR 195 million; net income attributable to the shareholders of ThyssenKrupp AG came to EUR 210 million. The year before a loss of around EUR 1.6 billion was reported, of which EUR 1.4 billion attributable to shareholders of ThyssenKrupp AG

ThyssenKrupp CEO Dr Heinrich Hiesinger ahead of the Group's annual press conference said "The 2013/2014 fiscal year represents a milestone in our earnings situation. We have demonstrated that we are making progress with our transformation into an efficient and profitable diversified industrial group on our Strategic Way Forward.”

At the same time Hiesinger emphasized that the turnaround is not yet complete. For this the Group needs to generate not only a net profit for the year but also stable free cash flow before divestments. He said "And that’s why we will not let up in our efforts but will keep the pressure on. That applies to our efficiency program as well as our operating performance," continued Hiesinger.

Performance in the fiscal year
Adjusted EBIT from continuing operations climbed from EUR586 million to EUR1.3 billion in the fiscal year and therefore more than doubled (+127 percent). The capital goods businesses – Components Technology, Elevator Technology and Industrial Solutions – increased their adjusted EBIT by 13 percent year-on-year from EUR1.555 billion to EUR1.758 billion. The materials businesses – Materials Services, Steel Europe and Steel Americas – generated EUR369 million in total, compared with a loss of EUR116 million in the 2012/2013 fiscal year. This is the first clearly positive contribution in two years – even including Steel Americas, VDM and AST, which were negative this year.

Order intake up by 7 percent
Order intake from continuing operations reached EUR41.4 billion, up 7 percent year-on-year in a continuing challenging economic climate (prior year EUR38.6 billion). On a comparable basis, i.e. excluding currency and portfolio effects, order intake likewise increased by 7 percent. At EUR18.7 billion order intake in the capital goods businesses improved significantly year-on-year. On a comparable basis new orders were 10 percent higher. In the materials activities, Materials Services and Steel Americas recorded order growth. Steel Europe was unable to increase its order intake mainly due to low steel prices.

Significant growth in sales
Sales from continuing operations at EUR41.3 billion (prior year EUR38.6 billion) were higher year-on-year in all business areas except Steel Europe, where sales fell due to disposals. On a comparable basis sales increased by 7 percent, profiting in particular from the strong growth and high orders in hand of the capital goods operations. Elevator Technology and Industrial Solutions achieved new record sales levels.

Stabilization of the balance sheet
The Group's net financial debt was reduced significantly by more than EUR1.5 billion from EUR5.0 billion at September 30, 2013 to EUR3.5 billion. Equity was increased from EUR2.5 billion to EUR3.2 billion. Accordingly the Group's gearing improved by around 92 percentage points to 109 percent.

Efficiency program taking effect
The positive trend in earnings in the reporting year mainly reflected the efficiency measures under the "impact 2015" program. At EUR1 billion, the original savings target of EUR850 million was significantly exceeded. Savings of EUR1.6 billion have therefore already been achieved in the past two fiscal years. On this basis, the overall target for September 2015 is now being raised to around EUR2.5 billion, around 8 percent or EUR200 million more than the EUR2.3 billion target set at the beginning of the fiscal year.

2014/2015 outlook for sales and EBIT up
Despite the growing uncertainty over the economic climate and limited visibility in the materials businesses, the Executive Board is confident about the prospects for ThyssenKrupp in the 2014/2015 fiscal year: On a comparable basis, the Group's sales are expected to grow year-on-year by a single-digit percentage rate.

The targeted measures under the efficiency program will continue to have a major effect and create additional savings of EUR850 million. The Group's adjusted EBIT is expected to improve to at least EUR1.5 billion, with all business areas except Steel Americas generating strong EBIT contributions. Steel Americas will at least make a clear improvement towards break-even EBIT. The aim is to achieve a significant improvement in the Group's net income. At the same time clear progress is expected in terms of cash generation, with at least break-even free cash flow before divestments.

Longer term
ThyssenKrupp is working intensely to generate sustainable, strong free cash flow again to provide the funds needed to expand its growth businesses and be able to pay a solid dividend. This requires EBIT of at least EUR2 billion. The Executive Board is convinced that the earnings growth required for this minimum target and beyond can be achieved by strictly following the Strategic Way Forward in all business areas. “For this we have set individual performance targets for all business areas which are now being systematically implemented,” stated Hiesinger.

Source – Strategic Research Institute

voda 21 november 2014 15:24

0

Hebei Province steel output in October drops 5pct MoM

Reuters reported that steel output in China's biggest producing province of Hebei fell 5% in October on a month earlier as mills wound down their operations ahead of mandatory suspensions during an Asia Pacific Economic Cooperation summit in Beijing.

Hebei's steel sector, usually responsible for about a quarter of China's output, produced 14.49 million tonnes of crude steel during the month.

According to the National Bureau of Statistics, cutting its share to 21.5% of the total. National daily crude steel production fell 3.3% on the month in October, reaching 2.18 million tonnes, its lowest rate this year.

Some in the industry hoped the production cuts, aimed at guaranteeing air quality during the APEC summit, would help reduce oversupply in the sector and support prices.

However, producers in other regions picked up some of the slack, with output from Jiangsu rising 4.5% on the month to 8.49 million tonnes. Output from the eastern coastal province has risen 9.3% in the first 10 months of 2014.

Bigger declines in Hebei steel output are expected this month, with dozens of mills asked to suspend operations completely during November 7-12 as global heads of state arrived in Beijing for the APEC session.

Hebei, home to seven of China's 10 smoggiest cities, is under heavy pressure to cut coal use and shed polluting industrial capacity, including steel. It aims to cut steel capacity by 60 million tonnes over 2013 to 2017 and it has also drawn up an action plan that will see the relocation of 5 million tonnes of production to other regions by 2017.

Source - Reuters

voda 21 november 2014 15:32

0

Iron ore slump halves Mr Andrew Twiggy Forrest's fortune

The plunging iron ore price is wreaking havoc on Mr Andrew Forrest's personal fortune, which has more than halved to just AUD 2.8 billion and puts him outside of the top 10 richest people in Australia for the first time since 2006.

Mr Forrest, who is Fortescue Metals Group founder and chairman, was confident the Pilbara miner could withstand the weakening iron ore price and would continue providing capital for his philanthropic work.

Mr Forrest said that "I didn't count it on the way up and I'm not counting it now.

Shares in Fortescue Metals crashed 7.7% to AUD 2.74, a level not seen since the depths of the global financial crisis when debt laden Fortescue was battling for survival. Fortescue share's have fallen 55% since February, when Mr Forrest's stake was worth AUD 6.2 billion.

The company was caught in a brutal sell off of iron ore stocks, as the price of iron ore slumped 4.4% to fresh five year lows of USD 71.80 per tonne. The price or iron ore has plunged 46 per cent this year, which is hammering the value of the miners. The value of Kerry Stokes's stake in Seven Group, which owns the WesTrac mining equipment business, has plunged AUD 715 million to just AUD 1.2 billion in the past 12 months.

Seven Group shares dived 9.2% to close at AUD 5.90. Wealth destruction is being felt across the industry. John Grill, chairman at resources engineering and procurement contractor Worley Parson, has had his stake in the group slashed by AUD 134 million to AUD 307 million since August.

Mineral Resources managing director Chris Ellison, who paid AUD 57.5 million for the nation's most expensive home in 2009, had stock in the mining services company worth AUD 307 million in March. It was worth AUD 179 million on Wednesday.

Source – SMH

voda 21 november 2014 15:38

0

China crude steel production in Oct falls to 67,520,000 tonnes

According to the announcement on 13th by the National Bureau of Statistics of China, China's production quantity of crude steel in October was 67,520, 000 tonnes, down 20,000 from the previous month. Its production quantity per day in October was 2,178,000 per tonne largely down 80,000 per tonne from 2,250,000 per tonne in September.

In China, environmental restrictions have been tightened, and such information was reported for certain manufacturers to be forced into a suspension of operations, which can be taken factual.

According to the announcement, its crude steel production in that month decreased by 0.3% from the same month last year. Its cumulative production quantity in January to October was 685,350,000 per tonne up 2.1% from the same period last year.

Its production quantity of steel products in October was 95,250 t/t, down 0.5% ditto. Its production quantity per day was 3,070, 000 per tonne down 120,000 per tonne from 3,190,000 per tonne in the previous month. It increased by 2.0% from the same month last year. Its cumulative quantity in the same period was 934,470,000 tonnes up 4.7% ditto.

Its production quantity of pig iron was 57,010,000 per tonne down 3.2% ditto, and also down 3.1% from the same month last year. Its cumulative quantity in the same period was 599,520,000 per tonne up 0.1% ditto.

In China, operations of blast and electric furnaces were suspended in early November mainly in the Heibei Province. Therefore, its production quantity is seen to decrease in November as well. The environment over steel seems to be so severe due to the sluggish demand, tightened environmental restrictions and lack of money to purchase among distributors.

Steel products which are unable to be domestically sold are likely to be diverted to export and a decrease in export quantity will not be expected for the time being.

Meantime, a decrease in steel production in November as well as October is expected but the backlash is predicted to appear in December.

Source - The TEX Report

voda 21 november 2014 15:41

0

Arcelor Mittal in Ebola fight has spends USD 1.5 million

All Africa reported that World steel giant Arcelor Mittal, operating in Yekepa, Nimba County, has spent USD 1.5 million between April and November this year in contributions to the fight against the Ebola virus.

Mr Hesta Baker Pearson, Arcelor Mittal Head of Corporate Communications in Liberia said that “This amount is part of the USD 3million the company budgeted at the onset of the outbreak of the disease.”

Mr Pearson said recently that the USD 3 miliion budgeted covers training of health workers in both private and public hospitals as well as capacity building for health care providers at the company's hospitals in Yekepa and Buchanan.

He said that the company has also provided personal protective equipment (PPEs), several thermo flashes, two ambulances, and constructed Ebola Treatment Units (ETUs) worth over half a million United States dollars.

Source – All Africa

voda 21 november 2014 15:43

0

Investeren maar! :-)

New Zealand billionaire throws money into iron ore pit

New Zealand‘s billionaire Todd family stepped up bets on Australia‘s beleaguered iron oresector when iron ore prices slid to new five year lows, boosting its stake in a company that aims to start producing in 2017.

Todd Corp agreed to buy AUD 4.5 million in new shares that Flinders Mines Limited is selling as part of a AUD 6.7 million raising to fund a final study for its Pilbara Iron Oreproject.

Flinders Mines said that the AUD 1 billion project in Australia‘s richest iron ore belt aims to produce 25 million tonnes a year, which could make Flinders the country’s fifth largest iron ore producer.

Mr Ian Gordon MD of Flinders Mines said that “Flinders would like to thank Tio (NZ) Limited, a subsidiary of New Zealandbased Todd Corporation Limited, for their continued support of the Pilbara Iron OreProject in what is a difficult market for junior developers.”

Source – Macro Business

voda 21 november 2014 15:47

0

Ukrainian iron ore output drops in Jan-Oct

According to data released by the Ukrainian association of metal producers Metallurgprom, the country’s iron ore output totaled 68.93 million tons in the first ten months of this year, dropping by 0.9% from a year earlier.

In October, Ukraine’s iron ore output totaled some 7 million tons, rising by 4.1% YoY.

Source - www.yieh.com

voda 22 november 2014 16:19

0

India may introduce differential export duty for iron ores grades

PTI reported that Indian government is likely to introduce differential export duty on iron ore under which producers of low grade raw material will pay lower rates, a move that will help struggling miners, especially in Goa.

A highly placed source said that the proposal, if implemented, would see government charging different rates for exports of varied grades of iron ore rather than the present uniform rate of 30%.

This follows a representation from the Goa CM who suggested levying differential export duty for the key steel-making raw material.

Traditionally, iron ore is priced on the content of iron in the raw material. Lumps, which contain higher iron ore, cost more than fines that have less iron content. Goa produces primarily fines.

Source - PTI

voda 22 november 2014 16:23

0

ThyssenKrupp CEO does not rule out selling Europe steel business

Bloomberg reported that Mr Heinrich Hiesinger CEO of ThyssenKrupp AG declined to rule out selling the company’s European steel business after Germany’s biggest producer of the metal offloaded US operations last year.

Mr Hiesinger said that “We do not intend to give away our Steel Europe business. If we as a board believe that it’s a right step to be done, we are not limited by our heritage.”

ThyssenKrupp has already sold its Steel Americas unit to ArcelorMittal, while failing to find a buyer for its stake in a Brazilian plant. It plans to exit stainless-steel operations, selling its Inoxum unit to Finland’s Outokumpu Oyj in 2012.

A sale would see the company abandon roots that date back to the 19th century to focus on its elevator and industrial business, amid a stagnant European economy and weak steel prices that are forcing the region’s producers to cut their losses.

The company was created by the merger of Thyssen Stahl AG and Krupp Stahl AG in 1999. Thyssen produced its first steel in 1891 at the Gewerkschaft Deutscher Kaiser steelworks in Hamborn, near Duisburg. Friedrich Krupp founded Krupp in 1811.

Source - Bloomberg

voda 22 november 2014 16:25

0

UAE steel market can offer competitive prices - Conares CEO

Trade Arabia reported that according to Mr Bharat Bhatia CEO of Conares domestic steel manufacturers in UAE are capable of offering internationally competitive prices in the UAE, leveraging the steady growth of the construction and infrastructure development sectors in the country.

Mr Bhatia said that the local manufacturers should increase their production to cater to the current demand, gradually reducing the market share for the import of steel products in the UAE.

Mr Bhatia said “The steel market in Dubai is currently at a balanced state. Dubai steel market has enough capacity to support the new wave of infrastructure developments that is planned up to 2020. The technologies and capacity to cater to this requirement immediately are in place and operating. The demand for steel products in the UAE has increased by 15% in 2014, compared to last year. We expect the year 2015 would witness more demand compared to the current year. The forward indications remain promising as projects continue to be moving on, albeit there have been concerns on liquidity.”

Conares has a 15% share of the UAE market in its specific product segments. It currently supplies about 350,000 tonnes of rebar, about 10% of the total domestic requirement in the UAE. The company also supplies about 100,000 tonnes of pipes, which is around 25% of the total market demand in the region.

About 60% to 70% of demand for steel rebar in the UAE market is being addressed by local firms and the rest is covered by imports. The demand in the UAE rebar market is stable at about 3 to 3.3 million tonnes for the current year.

Source - Trade Arabia

voda 22 november 2014 16:29

0

Australia China FTA will have little impact on Chinese domestic iron ore iIndustry

China Australia Free Trade Agreement signed on November 17 will eventually cancel all tariffs on resources and energy commodity cargoes from Australia to its biggest destination, including coal.

Iron ore and coal are the essential products in trades between two countries. Australian iron ore accounted for 52% in China’s iron ore imports in 2013 and it is estimated that 1/5 Australian exports is contributed by iron ore, and 1 dollar drop in iron ore price is likely to cause AUD S700 million slide in its national revenue.

Mr Wang YingSheng, Head of Market Research of China Iron & Steel Association said that “The zero tariff policy out of FTA will have little impact on Chinese domestic iron ore industry because China doesn’t have import duty on iron ore imports.”

The imports are acturally cheaper than domestic iron ore. As of November 14, 62% Chinese iron ore was priced at 669.49 yuan per ton, 17.28% higher from imports, 17% VAT inclusive, dry basis.

China Iron & Steel Association encourages domestic steel mills to buy Australian iron ore amid price drops in the recent two years. There are spot trading platforms and indices as well, the iron ore sector is pretty transparent.

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

voda 22 november 2014 16:32

0

Wat gaat Goldman met Arcelor Mittal doen?

Bank cuts nickel price forecast on rising output of alternative metal

Goldman Sachs has cut its nickel price forecast for next year by 20% because of sustained production of a lower grade alternative in China.

Mr Roger Yuan, an analyst at Goldman Sachs said that “Nickel would average USD 17,500 per tonne next year, down from its earlier estimate of USD 22,000.”

China’s output of nickel pig iron, a substitute for the refined metal, would be higher than forecast for this year and 2015. Nickel has risen 17% so far this year as Indonesia, the biggest nickel producer from mines, imposed a ban on unprocessed ore exports in January. Stockpiles in warehouses the London Metal Exchange monitors expanded 49% this year.

Mr Yuan said that "The market, including us, was clearly expecting a much tighter nickel market in 2014. Stronger than expected delivery of laterite nickel from the Philippines and substantial destocking of China’s onshore laterite, nickel pig iron, and refined inventory, has resulted in a lower than anticipated nickel pig iron production cuts."

Nickel for delivery in three months on the London Metal Exchange rose 0.5% to USD 16,230 per tonne in Hong Kong on Thursday. Prices dropped to a seven month low on October 28.

Source - Bloomberg

voda 22 november 2014 16:35

0

Voestalpine iron ore plant ready to hire permanent employees

Construction is said to be moving right on schedule for the Voestalpine iron ore processing plant going up just north of Portland.

The work is roughly 30% complete and is on track to be finished about a year from now. On Thursday, Kiii News Anchor Joe Gazin got an on site tour of the ongoing construction.

It all began back in April of this year when Voestalpine, a major steel maker based in Linz, Austria, broke ground on a state of the art, natural gas powered iron ore processing plant that promises to be as environmentally friendly as current technology allows. The plant will turn iron ore that's about 60% pure into a product that's more than 90% pure and suitable for the making of high grade steel.

Now, some 400 construction workers are building the main tower. Ultimately, it will be 450 feet tall. By comparison, the south tower of One Shoreline Plaza is only 410 feet tall.

Source - Kiiitv

Vertraagd	7 mrt 2025 17:36
Koers	30,480
Verschil	-1,690 (-5,25%)
Hoog	31,770
Laag	30,480
Volume	4.319.928
Volume gemiddeld	3.001.505
Volume gisteren	8.534.283

10:02	ArcelorMittal, Air France-KLM en bank...
03 mrt	Video: beursexperts somber gestemd vo...
02 mrt	Experts somber gestemd voor maart maa...	8
11 feb	Von der Leyen verwerpt Amerikaanse im...	2
10 feb	Trump dreigt met importheffingen op s...
09 feb	ArcelorMittal en Aperam weekwinnaars
07 feb	Deutsche Bank verhoogt koersdoel Arce...
06 feb	Beursblik: ArcelorMittal overtreft ve...
06 feb	AEX opent waarschijnlijk hoger. Let o...	2
06 feb	ArcelorMittal ziet verlies afnemen	1

Arcelor Mittal « Terug naar discussie overzicht

Nieuws en info hier plaatsen (deel 4)

Meedoen aan de discussie?

Direct naar Forum

Detail

ArcelorMittal nieuws