Eurobench.com

voda 31 december 2014 13:26

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Salzgitter's Europipe to suspend pipe production for South Stream pipeline project

Salzgitter announced that “EUROPIPE GmbH, a 50/50 joint venture of the Salzgitter Group an AG der Dillinger Hüttenwerke, has received an instruction from Amsterdam-based South Stream Transport BV to halt the production of steel tubes for the South Stream pipeline until further notice, expected at least until February 19.”

It said “The financial consequences for the Salzgitter Group cannot be quantified exactly yet.”

It added “Europipe GmbH and our wholly-owned subsidiary Salzgitter Mannesmann Grobblech GmbH, which supplies some of the plates, are endeavoring to minimize the reduction in capacity utilization that this creates.”

Salzgitter earlier this month said that Europipe would stop production for South Stream only through the end of this year.

Russian President Vladimir Putin announced the cancellation of South Stream’s development on December 1 following European Union trade sanctions against the country over its dispute with Ukraine.

Russian gas giant Gazprom said December 29 that it agreed to buy the 50 percent it doesn’t own in the South Stream development venture from Italian, French and German partners.

Source – Strategic Research Institute

voda 31 december 2014 13:26

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US raw steel production weekly update

In the week ending December 27th 2014, domestic raw steel production was 1,746,000 net tonne while the capability utilization rate was 72.6%. Production was 1,788,000 net tons in the week ending December 27, 2013, while the capability utilization then was 74.6%.

The current week production represents a 2.3% decrease from the same period in the previous year. Production for the week ending December 27th, 2014 is down 5.5% from the previous week ending December 20th, 2014 when production was 1,848,000 net tonne and the rate of capability utilization was 76.8%.

Adjusted YTD production through December 27th 2014 was 95,474,000 net tonne, at a capability utilization rate of 77.0%. That is up 0.7% from the 94,809,000 net tonne during the same period last year, when the capability utilization rate was 76.8%.

Broken down by districts, here's production for the week ending December 27th 2014 in thousands of net tons
North East: 238
Great Lakes: 654
Midwest: 222
Southern: 556
Western: 76

Source – AISI

mvliex 1 31 december 2014 13:26

0

quote:
voda schreef op 31 december 2014 13:22:
De laatste set nieuwsberichten voor dit jaar...

Thnx voda, tot volgend jaar!
;-)

voda 31 december 2014 13:29

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South African iron ore exports falls in Nov 2014 - Govt sources

According to latest data released by government sources the South African iron ore exports dropped marginally during the month of November this year. However, the cumulative exports during the initial eleven months of the year were up slightly.

According to data, the country's iron ore exports totalled 4.52 million tonne in November this year. The exports during the month were 14.4% lower when compared with the exports during the same month a year ago. The South African iron ore exports had totalled 5.28 million tonne during November 2013.

The largest export destination of South African iron ore was China. The exports to China totalled 1.81 million tonne during November, accounting for almost 40% of the total South African iron ore exports during the month. China has been the largest export market for South African iron ore for the past 2 years.

The cumulative iron ore exports by the country during the initial eleven months of the year witnessed slight improvement over the previous year. The South African iron ore exports totaled 53.2 million tonne during January to November period this year, marginally up by nearly 1.9% when compared with the exports during the corresponding eleven month period last year.

The imports of South African iron ore by China during the period from January to November this year totaled 31.89 million tonne. The imports by the country averaged at USD 104.60 per ton.

The country's iron ore exports are projected to exceed 58 million tonne during the whole year 2014.

Source - www.metal.com

ttroo 31 december 2014 22:38

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Voda, bedankt voor al je bijdragen in 2014. Ga zo door in 2015. En ik zal zelf ook kijken of ik interessante artikelen kan vinden in 2015.

[verwijderd] 1 januari 2015 11:59

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Voorraden metalen.

Nikkel heeft een enorm groeiende voorraad (4x!!!) in de afgelopen 5 jaar.
www.kitcometals.com/charts/nickel_his...

Voorraden aluminium, koper, lood en zink bewegen zich rond laagste punt in 5 jaar. Zie "historical charts":

www.kitcometals.com/charts/aluminum_h...

voda 2 januari 2015 14:50

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Mvliex 1 en ttroo, hartelijk dank voor de complimenten.

Moge de staatgoden met ons zijn dit jaar!!

Hierbij de volgende set berichten voor 2015!

Policy clarity needed to ensure the growth of the Indian steel industry - TATA Steel MD

Mr Narendran MD TATA Steel India & S E Asia said that steelmakers in India face a challenging future as they may not be able to add capacity to keep pace with rising demand in an emerging scenario that looks positive.

Mr Narendran said that the need of the hour is to steer new investments in the industry with appropriate policy support to ensure that production of steel matches the growth in consumption.

He said that “The year gone by has been challenging with the industry faced with regulatory issues and sluggish demand from major steel consuming sectors like infrastructure and automobiles. TATA Steel, however, saw an increase in sale of branded products, retail sales and maximising revenue from innovative service offerings.”

He added that "Policy clarity and stability, especially with regard to renewal of mining leases and forest clearances, are imperative to ensure the growth of the steel industry. We are hopeful that the government will address the concerns of the steel industry in this regard in the new year."

The TATA Steel official said that "Forecasts indicate that the domestic economy will grow at around 6% buoyed by a stable government at the Centre, economic reforms and a turnaround in manufacturing. This is good news for the steel industry and TATA Steel will continue to service the market with innovative products and services."

He added “The scope is huge, with the Working Group on Steel for the 12th Plan projecting a crude steel capacity of 140 million tonnes by 2016-17.”

Source – Economic Times

voda 2 januari 2015 14:51

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TATA Steel to resume iron ore mining at Noamundi in Jharkhand

After Jharkhand Government’s assurance to initiate steps to renew TATA Steel’s iron ore mine, the company expressed hope that mining activities would be resumed in a couple of days.

Mr TV Narendran MD of TATA Steel (India and South East Asia) said that “There are some formalities needed to be completed, which will be done in two-three days, and than we’ll resume our production activity in the Noamundi mine, which remained closed since September last on renewal of lease issue.”

Mr Narendran said that “We are getting support from the new state government and all the problems will be sorted out soon,” adding that the stable government in the State would carry out developmental work fast.

He said that “We had a difficult time importing iron ore, but we have learnt a lesson while facing difficulty and challenges. We never thought we had to import iron ore for a company operating for so long,” admitting that the company did not have enough storage capacity.

He added that “We have imported five million tonnes of ore since the closure of mining activities in September, causing over a century-old company to pass through difficult time,” adding the company had stock to manage for sometime till mining operations resumed in the State.

He further added that the first phase of 3 million tonnes was expected to be commissioned in the next couple of months as TATA Steel had focused on the Greenfield project.

Source – PTI

voda 2 januari 2015 14:52

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Ban on iron ore mining led to 1 million lost jobs in Karnataka and Goa

According to a ASSOCHAM-Yes Bank joint study ban on iron ore mining and exports in top producing states of Karnataka and Goa led to job loss of one million people, directly and indirectly.

After the global meltdown and export ban in Goa and Karnataka, a significant decline was registered in minerals' production, this had major consequences on iron ore exports that declined markedly from over 117 million tonnes in 2009-10 to about 14 million tonnes in 2013-14. The study titled, 'Mining: Building a sustainable development framework for inclusive growth,' jointly conducted by ASSOCHAM and Yes Bank said that this led to massive job loss.

Mr DS Rawat, secretary general of ASSOCHAM, said that "Recent issues of illegal mining together with regulatory challenges, policy gridlocks, inadequate supporting infrastructure and others are significant hurdles in growth of India's mining sector. India's mining sector is saddled with logistic inefficiencies, economic, bureaucratic, environmental and a host of capacity issues owing to a lack of co-ordination between various agencies, besides, lack of central planning has resulted in procurement delays, this calls for consistent increase in transportation via rail, road for easy transport of minerals to point of consumption."

The study has suggested the government to take progressive policy initiatives like single window clearances for Greenfield and Brownfield projects to encourage private sector participation by enhancing domestic availability of major raw materials, improving financing avenues across mineral value chain and initiating steps to promote sustainable practices through larger community engagements and responsible mining.

Source – Times of India

voda 2 januari 2015 14:59

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Lower climate change targets necessary for steel industry to survive - voestalpine CEO

Mr Wolfgang Eder CEO of Austrian steel company voestalpine called for more realistic climate change targets for the European steel industry as part of the 2015 International Climate Change Agreement.

In an interview with the Oe1 Mittagsjournal radio program, Mr Eder, who is also Chairman of the World Steel Association, said that he hopes the EU can set realistic climate protection targets at the summit in Paris in December 2015.

Mr Edger said that “The limits currently envisaged are technically impossible for the steel industry to survive and should the EU insist on sticking to these limits, the steel industry would have to throw in the towel."

He said however, said that he does not expect the steel industry will move elsewhere as he can see signs of a rethinking of policy toward more realistic target estimates.

He added it should be about the setting of realistic limits that are achievable by technical means, and cannot be "utopian."

At present the steel industry in Europe is already feeling the effects of a weak economy and low investment, the voestalpine head said, adding it is something Europe can only tackle through stimulating the economy, and that he hopes the European Commission Investment Plan can aid by providing start-up funding to attract more project investors.

Source – Xinhua

voda 2 januari 2015 15:00

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Fierce competition looms in Vietnam steel sector in 2015

Experts believe domestic steel firms in Vietnam will have to deal with an increasing competition in 2015 triggered by cheap Chinese steel imports, more steel imports from Russia and an oversupply of many steel products on the home market.

Representatives of Vietnam and the Customs Union of Belarus, Kazakhstan and Russia signed a joint statement on conclusion of negotiations over a free trade agreement between these countries. This trade pact is expected to be signed next year.

Mr Do Duy Thai GD of Thep Viet Steel Corporatio said that Russia’s huge amount of imported steel will flood the local market if the import tariffs imposed on Russian steel are lowered in the coming time. Mr Thai forecast that Russia’s steel imports would surge and gain a competitive edge in Vietnam as Russia is a steel giant and strong in low production cost, abundant material supplies and advanced technology.

Mr Ho Nghia Dung chairman of the Vietnam Steel Association said that “With the Russian Ruble diving and lower tariffs offered as a result of the FTA between Vietnam and the Customs Union, it is obvious that domestic steel firms are facing pressure from steel imports from the Russian market.”

Currently, domestic steel firms are grappling with huge construction steel imports from China. Shipments of China’s low-cost alloy steel containing Boron alone have climbed and are estimated to rise to 550,000-600,000 tons this year.

Vietnam imported 10.52 million tons of steel products in January-November, a whopping increase of 21.1% against the same period last year.

Source - www.hellenicshippingnews.com

voda 2 januari 2015 15:01

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Chinese imported iron ore prices and inventory falls to lowest levels - Report

A report showed that prices of imported iron ore at 33 major Chinese ports have sunk to their lowest levels this year.

According to a Xinhua-China Iron Ore Index report, ror the week ending December 29th, the price index for iron ore imports with a 62% purity grade dropped 1 point from the previous week to 68. The index for imports of 58% purity grade stayed flat at 60.

Inventories of imported iron ore stood at 97.43 million tonne, down 1.76%, or 1.75 million tonne, over the previous period.

The report said the market witnessed slack trading of iron ore last week, due to the sharp decline of steel price. It is forecast that the lackluster steel demand will continue to push iron ore prices lower.

The report forecast that the iron ore market will continue to be sluggish in 2015 and the low prices of iron ore are likely to be the "new normal" of the market.

The index closely tracks changes in the domestic iron ore market on the basis of in-depth surveys of China's major sea ports, iron ore traders and steel makers, as well as analysis of Customs statistics.

Source - Xinhua

voda 2 januari 2015 15:05

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Brazil industrial power demand hit by declining steel and aluminum output in November 2014

According to federal energy planning company EPE, Brazil's declining steel and aluminum output contributed to a 4.5% YoY drop in industrial power consumption in November.

High-tension consumption fell to 15.1TWh from 15.8TWh in the period, EPE said in its latest monthly report.

The report said that "Both the aluminum and steel sectors have been hit by lower international prices."

According to data from the national steel institute IABr, in November, Brazil's rolled steel output fell 8.5% YoY.

Aluminum association Abal said that Aluminum production decreased 31.4% in the same period.

Overall power consumption in Brazil, however, rose to 40.8TWh in November, up 2.3% over last year.

The figure was driven by a 7.8% year-on-year rise in commercial power use, with demand in the country's southern region jumping 6.6%. Residential consumption rose 6.2% over the

Source – BN Americas

voda 2 januari 2015 15:08

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Great Lakes iron ore shipping totals surpass last year's - Lakers

It is reported that Lakers shipped 5.9 million tonne of iron ore on the lakes in November, putting shipments to date at roughly 53.2 million tonne. Shipments were down about 1 million tonne from October, but Mr Glen Nekvasil, VP of Lake Carriers Association, said that overall, the numbers are up over last year.

He said that “For the first time this year, we have finally here in November shaken off the effects of that brutal winter.”

Mr Nekvasil said that they spent around USD 6 million repairing ice damage to boats this year. Once the snow melted, he says higher water levels helped lakers carry more cargo. Shipments are still down about 5% from 2012.

Meanwhile, the Duluth Seaway Port Authority has seen around 28.7 million tonne of iron ore pass through the Duluth/Superior port as of October. Numbers haven't been released yet for November, though they’re due out next week. Around 29.4 million tonne came through the port last year.

Mr Jim Sharrow, Facilities Manager, said that last winter’s ice and rail delays have had the most impact on shipping. They saw some iron ore delivered by truck for shipment.

He said that “That’s a very expensive undertaking. It takes four or five days to equal one train load,” said Sharrow.

Source - www.wpr.org

voda 5 januari 2015 19:04

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India's iron ore output likely to rise by 10pct in 2015

Business Standard even as the Indian mining industry is facing several hurdles to secure approvals for restarting operation at mines in Goa, Karnataka and Odisha, the domestic iron ore production of India is likely to see a modest 10 per cent growth this year as more mines would start operations in Karnataka, Goa and Odisha in the coming months.

As per report, the iron ore production, which recorded a marginal growth to touch 140 million tonnes in 2014, is expected to touch 150 million tonne to 155 million tonne in 2015.

Mr Basant Poddar VP of Federation of Indian Mineral Industries said that “All the mines closed in Odisha, Goa and Karnataka are unlikely to open this year. We can expect some mines to start operations in Goa only by September. There are many challenges in all these states. In Karnataka, government approvals are limping. There may not be any big growth in the domestic production but we can hope to achieve last year's levels or see marginal growth.”

However, the mining industry is looking forward to some positive developments in 2015. The renewal of leases in Goa, formation of new government in Jharkhand, issuance of clearances and permits in Odisha and restarting of mines including auction of Category-C mines in Karnataka are expected in 2015.

Mr Poddar however added that “In 2015, India is likely to completely vanish from the export market as the prices have been very low. Unless the government withdraws export duties at least on low-grade iron ore, we cannot export from India anymore.”

Source - Business Standard

voda 5 januari 2015 19:08

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CISA warns that iron ore would face a weak 2015

The Australian reported that China's steel industry has warned that iron ore prices will remain under pressure over the year ahead as the nation's steel mills battle with over capacity and weak demand.

Mr Yang Zunqing deputy secretary of the China Iron and Steel Association during an OECD workshop in South Africa said that “The iron ore price will remain on the downward track while the coal price may stabilise or rebound slightly.”

He said that “Despite the dive in the costs of raw materials, the Chinese steel industry is still struggling to break even, with the major mills suffering a fall in sales revenue in the first nine months. Prices received by the Chinese steel industry are the lowest since January 2003.”

Mr Yang said industry output is expected to remain high, despite the fact that excess supplies were being pumped into an economy with weak demand, ensuring that finished steel prices remained weak.

Mr Yang said the industry faced the prospect of higher financing costs, adding that internal cash generation was inadequate, while financing on the share market was difficult and the cost of both bond and bank financing was rising.

The industry is trying to redouble its level of steel exports, expected to have surpassed 80 million tonnes last year, to offset the lack of domestic demand. However, Mr Yang said trade frictions limited the scope for export markets.

He said “Over the medium term, demand growth would be focused on high end steel grades, while the medium to low end would be left battling excess capacity and escalating pressure for higher environmental standards.”

Mr Yang said “Demand from the property sector would remain weak, with new property starts over the first nine months of the year down by 9.6 per cent from a year earlier. This is flowing through to sales of major household appliances. Washing machine sales are down 3.8 per cent while freezers are down 2.8 per cent. The steel industry is more optimistic about infrastructure spending and shipbuilding. New orders in shipbuilding are 38 per cent higher in the first nine months than a year earlier. Motor vehicle sales are still growing, although at only 4.2 per cent it is at a much slower pace than the 10 per cent-plus growth rates that China had been used to.”

Source - theaustralian.com.au

voda 5 januari 2015 19:10

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Iran's steel industry targeting regional, global markets - Mr Khandadash

Mr Mohammad Khandadash MD of National Iranian Steel Company said that exports to regional and world countries is high on the agenda of Iran's steel industry.

Mr Khandadash said that if the officials don't take action today, the rivals will take the opportunities away from Iranian companies.

He said that in addition to Turkey, three other regional countries, Saudi Arabia, the UAE and Qatar, through implementing development plans, have emerged as new rivals for Iranian steel industry.

Mr Khandadash called for new plans to provide requirements and attract foreign investments to boost Iran's steel industry.

Based on Iran's 20-year Strategy Outlook, the country has plans to increase annual steel production capacity to 55 million tonne in 2015.

Iran's annual output stood at 15.6 million tons last year and is estimated to reach 17 million tons in the current year.

Source - IRNA

voda 5 januari 2015 19:11

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Iron ore opens 2015 with a bang

On expected line, iron ore opened 2015 with a bang by posting major weekly gain of 5-7% amid speculation that China will take more steps to spur growth in 2015

With China is tipped to grow at a rate of 7.4% this year – its lowest growth rate in almost a quarter of a century and by about 7% in 2015, the slower growth in steel consumption amid huge surplus capacities has also put severe pressure on steel as well as iron ore prices in China. And Iron ore prices have tumbled by almost 50% YoY

But there was a spark of recovery last week of 2014 as The People's Bank of China changed rules to expand the base for calculating loan to deposit ratios starting from 2015 and it is expected that such a revision could unleash an estimated CNY 5.5 trillion (USD 884 billion) of funds and boost investments, in turn increasing demand for steel products and iron ore. The move, which comes just weeks after the central bank cut interest rates, is also seen as an indication that Beijing could step up efforts to stimulate the economy.

However, it is expected that the rally may be limited as the steel demand fundamentals in China remain weak in 2015 and most analysts have forecast USD 60-70 CFR levels

Source - Strategic Research Institute

voda 5 januari 2015 19:17

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US court awards nearly USD 4 million to former steel worker at ArcelorMittal

Buffalo News reported that of a federal appeals court in US has awarded the former steel worker Elijah Turley about USD 4 million for the abuse and harassment including racial insults, intimidation and degradation he lived with just eight years ago while working at Lackawanna steel plant.

The appeals court said in its decision “Turley’s co-workers frequently subjected him to racist epithets, degrading treatment and, from time to time, outright threats. The experience left the plaintiff psychologically scarred and deflated."

The appeals court ruling came two years after a federal court jury initially awarded Turley USD 25 million in damages. Lowered later to USD 6 million, the award followed a three-week trial at which Turley, an African-American, testified about a series of workplace incidents that left him a physical and emotional wreck and forever changed his life. The court recommended a punitive damages award of about USD 2.6 million but the final decision rests with Skretny, and Turley if he decides not to accept it.

The appeals court said that “Turley’s work station became a stage for repeated intimidation and harassment.”

In upholding most of Turley’s lower court award, the Second Circuit Court of Appeals kept his compensatory damages at USD 1.3 million but reduced his punitive damages from USD 5 million to about USD 2.6 million.

However, the judges found no reason to question the original verdict finding Turley’s former employer, ArcelorMittal Steel, partly responsible for a pattern of “extreme racial harassment.”

ArcelorMittal in a statement said that “We are pleased that the Second Circuit agreed that the punitive damages were excessive. ArcelorMittal is an equal opportunity employer with a zero tolerance policy for workplace discrimination or harassment, and the alleged acts of harassment in the case are not representative of the ArcelorMittal workplace.”

Source – Buffalo News

voda 6 januari 2015 16:36

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Chinese steel mills eying new avenues to maintain steel export volumes - Report

On the first Monday of 2015 when Chinese steel market opened varied reactions started to pour in from various market players and analysts about the implications of Chinese government’s decision to withdraw VAT rebate on exports of some of the Boron added items wef January 1st 2015 in their drive to conserve natural resources

Data from the China Iron and Steel Association showed that more than 90% of additional output in the first half of last year was diverted to foreign markets, shielding many vulnerable mills from the impact of a slowdown in demand.

China's steel exports have surged by 46.8% during January to November 2014 to 83.6 million tonnes and the yearly volume is expected to be 90 million tonne plus. Steel export shipments in November 2014 increased 14% MoM to 9.72 million tonnes after 8.55 million tonnes in October and 8.52 million tonnes in September 2014.

Chinese mills boosted steel exports in 2014 as their domestic demand growth reduced due to new Norm of Chinese economy of about 7% by adopting aggressive pricing strategy using Boron added route to circumvent export taxes on some items as well as to avail VAT rebate. But this decision changes the whole game and it would be interesting to see that how Chinese mills adopt to the new scenario as Boron added steel accounted for more than 40% of the total exports as per industry estimates. It is heard that mills are already looking to exploit other loopholes

Ms Yu Yang, a Shanghai-based analyst at Shenyin & Wanguo Futures told Reuters "Chinese steel mills have already foreseen changes in the rebate policy that should go into effect this year, and they started substituting boron with other alloys such as manganese and chromium steel. Boron is the cheapest alloy, manganese and chromium are a bit more expensive.”

Morgan Stanley analysts said in a note on Monday that the cost of switching from boron to chrome would be around CNY 40 (USD 6) per tonne, far lower than the rebates on offer.

Mysteel said the rebate cancellation could cut exports by a third in the first quarter of 2015, but it could be offset by new rules aimed at encouraging higher end exports. It added that even without the rebate, Chinese steel prices remained far lower than prices overseas

On the other hand Custeel said that the removal of a tax rebate on boron steel exports will cut Chinese shipments by as much as 25%, worsening oversupply in the domestic market which is already down by almost 30% YoY

Source - Strategic Research Institute

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