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voda 22 juli 2015 16:53

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Atlas Iron turns focus to debt management

It is reported that Pilbara iron ore producer Atlas Iron will plunge into fresh talks this week on how to deal best with its debt burden, after revealing on Monday it fell almost USD 100 million short of its target in a critical equity raising.

The iron ore miner said it managed to raise USD 86 million, less than half of its target of USD 180 million, in a raising designed to strengthen its balance sheet amid continued volatility in iron ore prices.

Mr David Flanagan MD of Atlas said that he was "straight back into it" this week, starting a new round of discussions on debt refinancing strategies with adviser Lazard on Tuesday.

Atlas' USD 269 million Term Loan B facility, due to be paid in December 2017, has weighed heavily on the junior since the iron ore price crashed in 2014 and the miner will work swiftly to form a plan to refinance the debt.

Mr Flanagan said that "We haven't really re-engaged since we started the raising process, so [Tuesday] we sit down with Lazard and work out all the pros and cons of the options over the next year and how we map out the timeline to do that."

In a prospectus issued before the raising, Atlas said it expected "there will be a shortfall between the amount owing at the maturity date of the Term Loan B and the forecast cash balance at that date", but the board was confident this could be refinanced or rescheduled before maturity.

The prospectus said that "The ability to repay the Term Loan B at maturity will improve in the event of a successful capital raising or alternative debt funding, but will ultimately depend on prevailing market conditions, particularly Australian dollar iron ore prices between now and the maturity date."

Mr Flanagan said near-term iron ore prices played a critical role in the outcome of a refinancing. The iron ore price is down about 30 per cent in 2015, to about USD 52 a tonne.

He said that "The ease at which we can do it and the price at which we can do it and the timing of which we can do it are going to be a function of the [iron ore] price. If the price goes to USD 65 a tonne we have enough cash out of the business to pay off the loan."

Source : Business Day

voda 22 juli 2015 17:40

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Wereldwijde staalproductie neemt verder af

Gepubliceerd op 22 jul 2015 om 17:20 | Views: 468

BRUSSEL (AFN) - De wereldwijde productie van staal is in juni met 2,4 procent gedaald op jaarbasis, tot 136 miljoen ton. Dat meldde de World Steel Association woensdag.

De afname deed zich over een breed front voor. Zo produceerde China als 's werelds grootste staalfabrikant 0,8 procent minder dan een jaar eerder. In Japan zakte de staalproductie met meer dan 6 procent. Ook in Rusland, Frankrijk en Spanje nam de productie af, evenals in de Verenigde Staten. Duitsland bracht juist meer staal op de markt dan een jaar geleden.

In maart, april en mei nam de internationale productie van staal ook al af.

[verwijderd] 23 juli 2015 09:32

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seekingalpha.com/article/3346315-posc...

GVteD 23 juli 2015 10:07

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ArcelorMittal to make final wire rod shipment from South Carolina mill this week

Pittsburgh (Platts)--22Jul2015/555 pm EDT/2155 GMT

ArcelorMittal plans to ship the last of the wire rod produced by its Georgetown, South Carolina, steel mill this week, a company spokeswoman said Wednesday.

The mill ceased rolling operations earlier in July, and the company notified the United Steelworkers union that the mill will close August 13.

"The decision to close ArcelorMittal Georgetown is purely an economic business decision caused by surging imports, increasing competition within key [US] markets, and Georgetown-specific issues such as input costs and transportation costs," the spokeswoman said in a statement.

ArcelorMittal is still considering inquiries from potential buyers of the mill, which has one electric arc furnace, 600,000 st of annual liquid steelmaking capacity and 750,000 st of wire rod production capacity.

[verwijderd] 23 juli 2015 12:29

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seekingalpha.com/article/3348985

voda 23 juli 2015 16:54

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TATA Steel Scunthorpe BOF achieved best safety performance in 40 years

Scunthorpe Telegraph reported that the 180 employees in the basic oxygen steel-making plant on the Tata Steel works in Scunthorpe last year recorded their best safety performance in 40 years.

Stricter safety drills saw the number of accidents drop from 70 in 2011-12 to 22 last year.

The improved record has been attributed to the appointment of five safety champions two years ago.

Now the company wants to recruit at least 10 more champions this year.

Plant manager Roly Davies told the works newspaper InSite: "The safety champions are all dedicated and highly motivated people. They have enabled the plant to move at an accelerated pace towards zero harm."

Earlier this year contractors employed in the plant were also invited to a health and safety forum.

Last year, 22 people were injured while working in the steel-making plant.

Source : Scunthorpe Telegraph

voda 23 juli 2015 16:55

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TATA Sponge Q1 net down 83.9%

Tata Sponge Iron has reported 83.98% plunge in standalone net profit at INR 7.09 crore for the quarter ended June 30, 2015, due to sharp fall in sales. The company had clocked INT 44.28 crore net profit in the corresponding period a year ago.

Source : Strategic Research Institute

voda 23 juli 2015 16:56

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End of the line for South Asia’s ship graveyards at Alang – Report

Arab News recently reported that in the world’s biggest ship recycling center of Alang on India’s Arabian Sea coast, workers with blow torches cut segments of steel stripped from the rusting hull of a towering cargo ship, sold for scrap by its Japanese owner. But in this town — located in Prime Minister Narendra Modi’s home state of Gujarat — more than half of the ship-breaking yards have shut in the past two years and the future of the trade in India and neighbors Bangladesh and Pakistan is bleak.

The industry has been hit by a flood of cheap Chinese steel and new European Union environmental rules due later this year threaten to push business to more modern yards in places like China and Turkey — in turn devastating local economies.

Mr Chintan Kalthia, whose company RL Kalthia Ship Breaking Pvt Ltd runs one of Alang’s more modern yards, said “People are running this business from their heart, not from their mind. But this is my last ship. This business is dying.”

The trade in Alang used to employ about 60,000 directly, with thousands more in spin-off businesses. But roads on the 11 km beach front that locals say used to buzz with people and trucks now appear deserted and dozens of shops displaying everything from crockery to computers ripped out of ships are struggling to get supplies.

With a plunge in steel prices, ship owners are getting about $3.6 million less for the 25,000 tons of recoverable metal from a typical iron ore or coal carrying ship than just eight months ago.

The finger of blame is being pointed at China. One said “China is selling below the price of recycled steel.”

The impact has been felt in Alang where the number of active yards fell to 50 this year from more than 100 in 2014, according to the Ship Recycling Industries Association India. The number of vessels beached also dropped to a six-year low of 275 last year and was only 54 in the last three months

Source : Arab News

Bijlage:

voda 23 juli 2015 17:10

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TATA Steel UK union calls for independent review of industrial relations

The Hindu Business Line recently reported that General Secretary of lead union at TATA Steel UK raises concern over the way the company is managed and industrial relations are handled

Q - How happy are you with the deal that has been reached?

A - The key issue for the unions was keeping the pension scheme open. We know that defined benefit pension schemes have been in serious decline and a lot of companies have closed their schemes, and significantly reduced benefits. When Tata announced the closure of the scheme we had always made clear that it would be a line in the sand that we would not cross.

The significant point is that the scheme now remains open for future accrual and if the economy improves to a point that the scheme is better positioned we have the ability to allow new entrants in again.

The unions have had to make concessions, it is a compromise, but the main aim of the unions to keep the scheme open was met. It is the view of all four unions that the company was hell bent on closing the scheme.

Q - What was the turning point in your view?

A - The turning point was the strong mandate from the membership across four unions for industrial action. The company was probably very shaken by that — I don’t believe they expected it. They didn’t expect the workforce to react in such a strong way.

Q - You’ve spoken frankly about your concerns that there is a problem with industrial relations at Tata Steel that goes beyond this dispute. How optimistic are you that this is behind you now?

A - I remain very cynical. What we’ve said to the company is that during this dispute a lot of bad feeling came out about the way the company conducted itself. We believe there are serious issues with the way the company is managed and industrial relations are handled.

We are demanding a review and for an independent third party to come in and have a look at the industrial relations within the company. I am confident they will agree to our demand. The obvious people would be someone like the [dispute resolution service] ACAS.

Q - What are you most concerned about?

A - Everything in a sense — the decision making process, the lack of consultation, particularly at a local level.

It’s the way the senior union officials within the business feel they are not given the proper respect and not consulted, and changes, including significant ones, are made without their knowledge. It could be on anything from manning levels, to shift changes or work times. Local officials at many plants feel disheartened by the lack of consultation.

The company has announced further lay-offs at its speciality and bar business. How do you think this will be handled?

The problem is that this business has gone through several previous restructurings and there is a strong view coming from local officials at that business that the company has not delivered on issues that they said would be improved and now we have yet another restructuring. There is no confidence that this is going to be any different to previous restructuring.

Q - There are huge challenges facing the industry — how confident are you that unions and Tata Steel can work on this together?

A - It’s not just about Tata but about the steel industry in the UK. We launched a “Stand up for steel” campaign a few months ago calling on the government to take the problems with the steel industry seriously — if you want steel in the UK you have to stand up and do something about it. If you don’t, let us know and we’ll go elsewhere.

That is basically the stark situation that politicians across the parties have to deal with. We are working closely with UK Steel [the body representing UK steel makers, including Tata Steel] to put together a series of meetings with senior politicians.

There has got to be a joint approach. We have already done some good work with UK Steel on anti-dumping measures.

Source : The Hindu Business Line

voda 23 juli 2015 17:12

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Global crude steel production in Jube dips by 2.4% YoY

World crude steel production for the 65 countries reporting to the World Steel Association (worldsteel) was 136 million tonnes in June 2015, a -2.4% decrease compared to June 2014.

World crude steel production in the first six months of 2015 was 813.0 million tonnes, a decrease of -2.0% compared to the same period of 2014. The Middle East showed an increase of 2.9% whereas both North America and CIS reported negative growth of -6.9% in the first half of 2015. Crude steel production in Asia declined by -1.5% while it increased by 0.5% in the EU 28. South American production remained the same in the first six months of 2015 compared to the same period of 2014.

China’s crude steel production for June 2015 was 69.0 million tonnes, a -0.8% decrease compared to June 2014. Japan produced 8.6 million tonnes of crude steel in June 2015, a decrease of -6.2% compared to June 2014. India’s production was 7.4 million tonnes, up by 0.8% on June 2014. South Korea produced 5.9 million tonnes of crude steel, down by -3.6% compared to June 2014.

In the EU, Germany produced 3.8 million tonnes of crude steel in June 2015, an increase of 5.8% compared to June 2014. Italy produced 1.9 million tonnes of crude steel, down by -11.4% on June 2014. France’s crude steel production was 1.4 million tonnes, a decrease of -1.3% compared to June 2014. Spain produced 1.3 million tonnes of crude steel, a -3.3% decrease year on year.

Turkey’s crude steel production for June 2015 was 2.8 million tonnes, down by -4.5% on June 2014.

In June 2015, Russia produced 5.6 million tonnes of crude steel, down by -7.5% over June 2014. Ukraine produced 2.0 million tonnes of crude steel, a decrease of -21.8% compared to the same month in 2014.

The US produced 6.7 million tonnes of crude steel in June 2015, down by -8.5% compared to June 2014.

Brazil’s crude steel production for June 2015 was 2.8 million tonnes, up by 2.1% on June 2014.

The crude steel capacity utilisation ratio for the 65 countries in June 2015 was 72.2%. This is -3.5 percentage points lower than June 2014. Compared to May 2015, it is 0.1 percentage points higher.

Source - Strategic Research Institute

voda 23 juli 2015 17:13

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NLMK Q2 update on US operations

In Q2 2015, NLMK USA production results increased. Crude steel production spiked to 0.13 million tonnes (+39% qoq) following the completion of maintenance works. Finished steel output totaled 0.49 million tonnes (+20% qoq).

Source : Strategic Research Institute

voda 23 juli 2015 17:14

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SSAB announces half year report 2015

Strong cash flow despite somewhat lower result in Q 2

The quarter

Sales were SEK 15,303 (9,717) million

Operating profit, excluding items affecting comparability, was SEK 301 (267) million

The profit after financial items, excluding items affecting comparability, was SEK 88 (80) million

Earnings per share were SEK 0.31 (0.41)

Items affecting comparability had an impact of SEK -8 (-6) million on profit after tax

Operating cash flow was SEK 1,462 (528) million

Currency effects impacted sales positively with over SEK 1.1 billion compared with pro forma 2014, while operating profit was impacted positively with around SEK 70 million

Source : Strategic Research Institute

voda 23 juli 2015 17:17

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Steel scrap prices on the decline in Germany - EUWID

EUWID Recycling and Waste Managementreported that July saw prices drop on the German ferrous scrap market. Further reductions are expected for August. New scrap arisings are generally described as healthy while incoming volumes of old scrap are lower because of the summer season.

The market shows the impact of poor demand from Turkey for German steel scrap deliveries. Turkish steel mills are said to have instead made purchases in the USA at favourable terms. According to market sources, virtually no steel scrap is exported from Germany to India and China, either. Some players in the north of the country reportedly even resorted to distress selling in order to generate liquidity.

Chinese crude steel and construction steel exports continue to burden regional steel markets all over the world and are cited as the reason for poor demand from Turkish mills for scrap from Germany. Chinese construction steel is produced in integrated steelworks from ore, a route which leverages the low price of iron ore.

The full report on the German steel scrap market including the price table is published in issue 15/2015 of EUWID Recycling and Waste Management on 22 July. Online subscribers can already access it here:

Source : EUWID Recycling and Waste Management

voda 23 juli 2015 17:18

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US and Canda steel service center shipments recover slightly in June

Metal Service Center Institute announced that US shipments of steel products decreased only moderately in June and Canadian results recovered last month, with small increases in steel shipments.

US Service Center Activity
In June 2015, US service center steel shipments decreased by 3.2% from June 2014. Steel product inventories increased 7.1% over June a year ago.

Canadian Service Center Activity
Canadian service center shipments of steel products in June 2015 increased by 0.3% from June 2014. Steel product inventories increased 19.7% from June a year ago.

Source : Strategic Research Institute

voda 23 juli 2015 17:21

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Gerdau announces non-ferrous scrap separation system upgrade at Jackson

Jackson Sun reported that steelmaker Gerdau, one of the largest recyclers in North America, gets even larger following groundbreaking ceremonies Wednesday for a Usd 20 million project that will upgrade its non-ferrous scrap separation system — while adding 30 jobs — at the company's steel mill in Jackson.

Mr Ricardo Anawate, vice president and general manager of the Jackson mill, said “I look forward to our team leading this project and leading our mill into the next phase of growth. At the Jackson mill, Gerdau recycles more than 600,000 tons of scrap steel annually, to be transformed into merchant bar finished products that include angles, channels, flats and reinforcing steel."

He said "Currently, we recover as much of the non ferrous materials as possible to recycle and sell to other manufacturing operations. But amountis too small to recover with our current process and with the addition of the new non-ferrous separation facility, we estimate we will be able to recover approximately 30 million pounds of these non-ferrous metals when the facility is fully operational."

Gerdau is partnering with Clay Williams and Associates for the civil engineering, and with H+M Construction

Source : Strategic Research Institute

voda 23 juli 2015 17:22

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No further import duty hike on steel - Finance Ministry

The Hindu Business Line reported that India’s Finance Ministry has ruled out further raising the import duty on steel as it would be inflationary.

The report quoted a senior Finance Ministry official as saying that “Further increase in import duty will affect downstream industry. It will raise the price, which in turn will have impact on inflation.”

Last month, duty on various categories of imported steel was hiked bit the industry demanded a greater hike and was backed by the Heavy Industry and Public Enterprises Minister Mr Anant Geete.

Source : The Hindu Business Line

voda 23 juli 2015 18:23

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South Africa iron ore exports declined in May 2015

The South African iron ore exports dropped marginally during the month of May this year. Also, the cumulative exports during the initial five months of the year too dropped, according to latest released government data.

According to data, the country’s iron ore exports totaled 6.40 million tons in May this year. The exports during the month were 2.3% lower when compared with the exports during the same month a year ago. The South African iron ore exports had totaled 6.55 million tons during May 2014.

The largest export destination of South African iron ore was China. The exports to China totaled 4.19 million tons during May, accounting for more than 65% 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 two years. The export price to China averaged at US$61.60/ton during the month.

The second largest destination of South African iron ore exports was India. The imports of South African iron ore by India totaled 724,000 tons during May ’15. The average price of import stood at US$67.10/ton.

The cumulative iron ore exports by the country during the initial five months of the year witnessed slight decline over the previous year. The South African iron ore exports totaled 27.24 million tons during January- May period this year, marginally down by nearly 4.4% when compared with the exports during the corresponding five-month period last year. The exports by the country had totaled 28.49 million tons during Jan-May ’14.

Source : Scrap Monster

voda 23 juli 2015 18:24

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Iluka and BHP Billiton revise iron ore royalty payment agreements

Mining Technology reported that Iluka Resources has amended its Mining Area C iron ore royalty agreements with BHP Billiton and its joint venture partners. The royalty agreements have been in place since 1994 and the company said that the basis upon which iron ore is marketed and sold has changed significantly. An agreement has been signed for a revised basis for the royalty determination in a bid to reflect the change.

The revision will see Iluka receiving an immediate one-off payment of $ 8 million

As part of the new agreement, the royalty rate will decrease from 1.25% to 1.232%, effective from 1 July 2014.

From specific tenements of BHP Billiton's Mining Area C located in the Pilbara region of Western Australia, Iluka holds an in-perpetuity royalty over iron ore that will be produced.

Mining Area C is said to be a core component of BHP Billiton's flagship Western Australian Iron Ore assets.

The assets consist of four mining hubs that are linked to an integrated supply chain and are expected to sustain operations over at least 30 years.

The internationally low-cost, long resource life Mining Area C is a high Fe quality component of BHP Billiton's iron ore assets in Western Australia.

Source : Mining Technology

voda 23 juli 2015 18:26

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NMDC plans 100 million tonne iron ore production by 2021-22

PTI reported that NMDC said that it plans to increase its production capacity by three-fold to 100 million tonnes by 2021-22.

NMDC CMD Mr Narendra Kothari said “We have made an ambitious plan wherein we have planned to increase our capacity of iron ore by threefold. Today, we are doing 30 million tonnes and we have made our plan to take it to 100 million tonnes by 2021-22.”

He said that “By the year 2018-19, the production capacity will reach 75 million tonne. This year, our additional 15 million tonnes capacity will come.”

Noting that the achievement of 300 million tonne of steel output was a "very difficult task", Mr Kothari emphasized on boosting production of raw material like iron ore and infrastructure to achieve this task. He said "We have a target to produce 300 million tonnes of steel by 2024-25. This is a quantum jump as at present we have 100 million tonnes of capacity. It is not easy task. It is a very difficult task. We need enough raw materials, infrastructure like ports, railways, then cash for building capacities. For producing 300 million tonnes of steel, we need sufficient quantity of iron ore. Today, we are producing 130-140 million tonnes. We have to develop our resources.”

Source : PTI

voda 23 juli 2015 18:27

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BHPB update on Iron Ore for year ended June 2015

Published on Thu, 23 Jul 2015 86 times viewed

Total iron ore production for the 2015 financial year increased by 14 per cent to a record 233 million tonnes, exceeding full-year guidance. Total iron ore production is forecast to increase by six per cent in the 2016 financial year to 247 Mt.

Source : Strategic Research Institute

Vertraagd	14 feb 2025 09:07
Koers	27,050
Verschil	-0,650 (-2,35%)
Hoog	27,100
Laag	26,030
Volume	395.173
Volume gemiddeld	2.580.319
Volume gisteren	4.408.986

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