Eurobench.com

voda 9 augustus 2015 15:57

1

Roy Hill iron ore mine to beat output timetable

Bloomberg reported that Billionaire Ms Gina Rinehart’s new $10 billion Roy Hill iron ore mine may almost halve the time needed to reach its annual output target rate of 55 million tons, even though the scheduled first shipment is likely delayed. Roy Hill Holdings Pty Chief Executive Officer Mr Barry Fitzgerald said Friday in an interview that the mine in Western Australia’s iron-ore rich Pilbara region may need only 15 months from December to hit the target,which compares to an earlier assessment that the ramp up would take 30 months from the mine’s first shipment of ore

He said “That is substantially longer than it needs to be, it would be our intention to improve upon that. I’m thinking more along the lines of 15 months from December.”

Roy Hill will still seek to meet a deadline of shipping its first iron ore by September 30, despite delays to commissioning the operation. Mr Fitzgerald said “The reality is that it will probably be in that October period. There’s a window of opportunity from the end of September to the end of October, it will be in there. In commissioning a processing plant of this size, you never know exactly what that is.”

Roy Hill will have an all-in cash breakeven cost, excluding interest, of $36 a ton, UBS Group AG analysts led by Glyn Lawcock said in a July 10 note. Only BHP and Rio have a lower breakeven price, of $30 a ton, according to UBS.

Source : Bloomberg

voda 10 augustus 2015 16:48

0

POSCO to deliver 160 bln won worth of interim dividends

Yonhap recently reported that POSCO, South Korea's top steelmaker, said Tuesday that it will pay out some 160 billion won (US$137.24 million) in interim dividends to shareholders.

The steelmaker's board of directors made its decision earlier in the day that the company will pay a cash dividend of 2,000 won per common share, POSCO said in its regulatory filing.

The dividend is scheduled to be delivered to shareholders on Sept. 4, it added.

POSCO paid out a cash dividend of 8,000 won per common share for 2014 fiscal year that ended on Dec. 31.

Source : Yonap

voda 10 augustus 2015 16:48

0

Mesco Steel eying assets in US and Australia

PTI last week reported that Mesco Steel is scouting for assets like precious minerals, iron ore and mainly coal to ensure raw material availability for its steel
plants under capacity expansion.

Mesco Steel CMD Ms Rita Singh told PTI "We are looking at acquiring assets abroad. We are eyeing assets like precious minerals, iron ore and coal as
prices are low at this moment. We are exploring such opportunities in Australia, America, Vietnam and Cambodia”

Ms Singh said the company is serious on coal assets, mainly coking coal, to feed its steel plants as not only "market is down", but the company is also looking to acquire some distressed steel mills in Odisha.

She said "We are currently assessing proposals for 6-7 such properties in the state.”

The focus, Singh said, is on acquiring coking coal blocks in the range of 100-150 million tonnes overseas to feed its current as well as proposed acquisition of mills, if any. She said due diligence is under way "for several opportunities in various geographies, including South-East Asia and Australia which the company has zeroed in on, but nothing is final at this moment and the takeover would depend on viability of the venture, besides logistics issues".

Mesco Steel has already announced its plan to take its capacity to 4.5 million tonnes in the next 3-5 years with an investment of Rs 13,500 crore.

Source : PTI

voda 10 augustus 2015 16:50

0

Essar Steel Algoma interested in US Steel Canada - Report

Canadian Soo Today last week reported that word that the local steelmaker may be interested in such an acquisition comes from Bob Bratina, former Hamilton mayor, in remarks made to a Hamilton radio station.

Bratina is quoted as saying Essar would be a good fit for the Hamilton steel sector.

Essar Steel Algoma says it has no comment on whether it may be interested in buying US Steel Canada's operations in Hamilton. Ms Brenda Stenta, Essar Steel Algoma manager of communications, said the company has no comment

US Steel's facility in Hamilton is currently operating under Companies’ Creditors Arrangement Act (CCAA) protection. It was granted CCAA protection in September, in part because of a pension solvency deficiency of $839 million. USSteel Canada purchased most of the assets of Stelco Inc. in 2007.

Source : Soo Today

voda 10 augustus 2015 16:51

0

Australia clears Vietnam and India in anti dumping probe on HDG steel

VNS last week reported that the Australian Anti-Dumping Commission announced recently that the anti-dumping investigation into zinc coated steel imported from Viet Nam and India was terminated.

The ADC launched an investigation into alleged dumping of galvanised steel exports to Australia in July of 2014, following an application lodged by BlueScope Steel Limited.

The commission said the galvanised steel exported to Australia during the investigation period (July 1, 2013 to June 30, 2014) by Vietnamese Hoa Sen Group only showed negligible amounts of dumped steel with negligible harm to Australia's industry. Thus, it decided to terminate the investigation.

Source : VNS

voda 10 augustus 2015 16:52

0

Tata Steel update on iron ore mining at Noamundi in odisha

Tata Steel announced that its captive iron ore mining lease in the State of Odisha have been extended till 2030 in accordance with the provision of the MMDR Amendment Act, 2015. However, the Government of Jharkhand has not yet allowed the execution of the supplementary lease deed for extension of the Noamundi iron ore mine in spite of several representations made by the Company on the subject to the state.

As the Company did not accept the position taken by the Government of Jharkhand before and after the promulgation of the MMDR Amendment Act 2015, the Department of Mines, Government of Jharkhand, has stopped the issuance of challans (forwarding notes) for despatch of iron ore from Noamundi iron mine in Jharkhand to the Company's steel plant in Jamshedpur. This has resulted in stoppage of despatches of iron ore from Naomundi to Jamshedpur steel plant. The Company has decided to seek legal recourse to resolve this impasse.

While the stoppage of despatches from Noamundi will financially impact the company till the matter is resolved, the company has taken all measures to ensure that operations of Jamshedpur are unaffected by the actions of the State and the company remains committed to its customers and other stakeholders.

Source : Business Standard

voda 10 augustus 2015 16:53

0

Mr Nolan reintroduces bill for US made steel for pipelines in US

News Tribune reported that US Rep Mr Rick Nolan on Friday said he had introduced legislation that would require oil and gas pipelines built in the US to be built with American made steel.

The American Pipeline Jobs & Safety Act of 2015, HR 3385, would require that virtually all energy pipelines built and federally permitted in the United States contain 100 percent American steel and iron ore that is mined, processed or reprocessed in America.

Mr Nolan said thousands of Americans have lost jobs in the past year due to illegal dumping of foreign steel into US markets and he said that foreign steel may not be safe, threatening spills that could cause environmental harm.

The bill requires the secretary of transportation and the Pipeline and Hazardous Materials Safety Administration responsible for pipeline construction approval to improve minimum safety standards for steel pipe used in the US. Those standards would mandate use of steel produced in the US that originates from iron ore and taconite mined and processed in America. Recycled steel would be permitted, provided it includes US iron ore or taconite. Waivers for foreign steel would be permitted only to the extent U.S. capacity is not adequate to meet demand in a given year.

Mr Nolan, DFL-Crosby, who represents Minnesota's Iron Range, has introduced the same bill last year but it never advanced.

Source : News Tribune

voda 10 augustus 2015 16:54

0

Appeals court decision gives hope to US Steel Canada pensioners

Hamilton Spectator reported that former Hamilton steelworkers have won a victory for retirees by intervening in case before the Ontario Court of Appeal. In a decision released Friday the appeals panel left unscathed a little-known law that gives pensioners first claim on some assets of bankrupt employers.

For retirees worried about their pensions in the tortured restructuring of US Steel Canada, it means they can stake a claim ahead of secured creditors such as US Steel itself. The American parent company claims to be owed more than $2.2 billion by its Canadian arm.

At issue was a bit of law called the "deemed trust principle." It holds that because pensions are a deferred wage, workers are entitled to first claim on some of the assets of an employer that goes bankrupt with an underfunded pension plan. The only way the principle can be defeated is if the process of winding up a pension plan is started before a bankruptcy or creditor protection process begins.

Active and retired salaried employees of USSC intervened in the case of Grant Forest Products after a Superior Court judge ruled the deemed trust principle didn't apply in that case. The Hamilton group wanted to ensure that decision was very narrowly focused to the facts of the Grant Forest case and that's exactly what the appeals panel delivered.

The Supreme Court of Canada endorsed the deemed trust principle as recently as 2013. It seemed to be threatened by a decision last year by Superior Court Justice Colin Campbell that ruled deemed trust didn't apply to the Grant Forest case.

Source : Hamilton Spectator

voda 10 augustus 2015 16:55

0

TATA Steel Kalinganagar steel plant to start in December

Business Standard reported that the first phase of the Tata Steel's Kalinganagar steel project in Odisha's Jajpur district, comprising three million tonnes annual capacity, will go on stream in December. It has completed 90 per cent of the work and has sought 'consent to operate' from the Odisha state pollution control board.

Mr Rajiv Kumar VP operations at Tata Steel Kalinganagar Project said "We hope to get the approvals by December and go for commercial production.”

Mr Kumar said heating of the coke oven battery had started in May and the first batch of cokes will roll out on August 19.

He said the second phase, comprising another three mt steel capacity, will start after completion of the first phase. The second phase is expected to go on stream in 2019.

The company has sunk in about INR 22,000 crore till date out of the INR 25,164 crore estimated first-phase cost. Phase-I will mostly produce hot-rolled coils, to be sold in the domestic market.

Tata Steel had signed a deal for the Kalinganagar project in 2004. However, following resistance in land acquisition and death of 14 tribal protesters in a police firing in 2006, work could not start in real earnest till 2010.

Source : Business Standard

voda 10 augustus 2015 16:56

0

Chinese steel exports in July surge to lamost 10 million tonnes

According to statistics from the General Administration of Customs, China exported 9.73 million tonnes of steel in July 2015, an increase of 1.66 million tonnes or 20.6 percent year on year, and an increase of 0.84 million tonnes from June volume. In July, the import was 1.05 million tonnes, down 14.6 percent year from the same month of 2014, or a decrease of 0.12 million tonnes from June this year. Then net export of steel in July came to 8.68 million tonnes, an increase of 1.84 million tonnes or up 26.9 percent year on year, or up 0.96 million tonnes over June.

The cumulative exports in the seven months of 2015 totaled 62.13 million tonnes, up 6.6 percent; combined imports were 7.70 million tonnes, down 9.1 percent. The aggregated net export of six months was 54.43 million tonnes, up 34.1 percent.

Mills in China are facing slower domestic demand and are boosting exports, raising competition and pushing down prices.

Source : Strategic Research Institute

voda 10 augustus 2015 16:57

0

ArcelorMittal sees increased mergers in Indian steel industry

Global steel giant AreclorMittal expects merger and acquisition activity in the Indian steel and mining industry, though at a slower pace, even as the sectors are going through an economic downturn.

World's largest steel producer said in a statement "Merger and acquisition activity is expected to remain relatively active in the Indian steel and mining industry though at a slower pace considering the current economic slowdown. "Recent and expected future industry consolidation should foster the ability of the steel industry to maintain more consistent performance through industry cycles by achieving greater efficiencies and economies of scale and should lead to improved bargaining power relative to customers and crucially, suppliers, which tend to have a higher level of consolidation.”

It said “The global steel and mining industries experienced consolidation during the ten years prior to 2008. After a pause during the credit crisis and global economic downturn of 2008-2009, merger and acquisition activity of various steel and mining players, including Chinese and Indian companies, increased at a rapid pace. However, given the current economic uncertainties in developed economies, combined with a slowdown in emerging regions such as China and India, consolidation transactions decreased significantly in terms of number and value after 2012.”

Source : Money Control

[verwijderd] 11 augustus 2015 08:17

0

marketrealist.com/2015/08/understandi...

Crooswijk 11 augustus 2015 14:46

0

Door Christopher Whittall
China's devaluatie van zijn munt stuurde wereldwijde voorraden lager dinsdag, het raken van de aandelen van bedrijven die exporteren naar China of concurreren met Chinese rivalen bijzonder hard.
Een zwakkere yuan zou de concurrentiekracht van de bedrijven buiten China gekwetst door het maken van hun producten en diensten relatief duurder, terwijl de bedrijven dat de omzet in China te genereren kon vinden inkomsten in yuan minder in hun eigen valuta waard.
Luxe goederen bedrijven, autofabrikanten en mijnbouwbedrijven, die zeer gevoelig zijn voor de Chinese vraag zijn, kwam onder de meest intense druk.
In Europa, de aandelen in LVMH Moët Hennessy Louis Vuitton SE en Gucci-eigenaar Kering SA daalde meer dan 3%. Porsche Automobil Holding SE en Daimler AG zowel verloor meer dan 4%, het slepen van de Duitse export-heavy DAX-index met een daling van 1,6%.
Aandelen in BHP Billiton PLC daalden met 2,7% en ArcelorMittal SA verloor 1,6%.
Meer in het algemeen, de devaluatie van de munt markeerde de laatste ronde in de inspanningen van Peking om het faillissement van een vertragende economie, verder waaieren zorgen over het effect op de mondiale groei.
"Met betrekking tot het effect ervan op de groei, het voelt in het beste geval als dit is een zero-sum game: wat goed is voor de groei in China is helaas slecht voor iedereen," zei Bill McQuaker, co-hoofd van de multiasset bij Henderson Global Investors , die toezicht houdt op GBP82 miljard aan activa.
De pan-Europese Stoxx Europe 600-index daalde 0,9% halverwege de sessie.
Amerikaanse aandelenmarkten futures wezen op een daling van 0,4% opening voor de S & P 500. Veranderingen in futures zijn niet noodzakelijkerwijs weerspiegeld in de markt beweegt na de opening bel.
Chris Jeffery, een asset-allocatie strateeg bij Legal & General Investment Management, zei de selloff wordt gedreven door zorgen over wat China's devaluatie van de yuan "betekent voor het concurrentievermogen van het Westen versus het Oosten."
De meeste Aziatische beurzen daalden en valuta daalde in reactie op de People's Bank of China's move als 's werelds tweede grootste economie zakt.
Japanse Nikkei 225-index daalde 0,4%. De Shanghai Composite Index plat was.
"De markt is nog steeds bezig uit te werken als dit een eenmalige verhuizing of het begin van iets meer belangrijk", zegt Talib Sheikh, een multiasset fondsbeheerder bij JP Morgan Asset Management, dat toezicht houdt 1800000000000 $ aan activa.
"We denken dat de risico's zijn dat ze zullen moeten nemen aan verdere maatregelen" om de munt te verzwakken, voegde hij eraan toe.
Athene voorraden tegen de trend na de vooruitgang naar een derde bailout voor Griekenland.
De Athex Composite-index was 1,2% hoger. Griekse voorraden zag een aantal van de grootste winst in Europa, met de Nationale Bank of Greece SA met 6,5% en Hellenic Telecommunications Organization SA tot 1,2%.
Griekenland en zijn internationale schuldeisers een akkoord bereikt in principe het land met een bailout evenveel waard als EUR86 miljard ($ 94400000000) te bieden, maar sommige details bleven onopgelost, volgens een woordvoerster van de Europese Commissie en een Griekse overheidsfunctionaris.
In markten munt, de euro steeg licht ten opzichte van de Amerikaanse dollar op $ 1,1035. De Japanse yen daalde met 0,3% ten opzichte van de buck.
Brent ruwe olie daalde met 1,4% naar $ 49,71 per vat. Goud steeg 0,7% tot $ 1,111.60 per troy ounce.
Tommy Stubbington bijgedragen aan dit artikel.
Schrijf naar Christopher Whittall bij christopher.whittall@wsj.com
(END) Dow Jones Newswires
11 augustus 2015 07:58 ET (11:58 GMT)
© 2015 Dow Jones & Company, Inc.

[verwijderd] 11 augustus 2015 16:00

0

O.A. Mittal:
www.stocktranscript.com/morning-alert...

Crooswijk 11 augustus 2015 16:53

0

Bedoelde u: By Christopher Whittall and Tommy Stubbington China's devaluation of its currency jolted global markets Tuesday, hitting stocks and commodities and boosting government bonds. The S&P 500 fell 0.7% in early trade. The pan-European Stoxx Europe 600 index was down 1.5% early afternoon. Oil prices also fell sharply, while demand for haven assets pushed down bond yields in the U.S. and Europe, as investors worried that Beijing's move signaled growth concerns over the world's second-largest economy. Financial markets have reacted to signs that Chinese authorities believe it is necessary to act to boost flagging growth, said Ewen Cameron Watt, chief investment strategist at BlackRock Inc.'s Investment Institute. "For markets today it's a case of shoot first, ask questions later," said Mr. Watt, whose firm oversees $4.7 trillion in assets. A weaker yuan could hurt the competitiveness of firms outside China by making their goods and services relatively more expensive, while companies that generate sales in China could find revenue and profit generated in yuan are worth less in their home currency. "Worries about what this might mean for the competitiveness of the West versus the East" are driving the stock market selloff, said Chris Jeffery, an asset-allocation strategist at Legal & General Investment Management. Shares of companies that export to China, including luxury-goods firms, car makers and mining companies, came under the most intense pressure. In Europe, shares in LVMH Moët Hennessy Louis Vuitton SE and Gucci-owner Kering SA fell more than 3%. Premium auto makers BMW AG and Daimler AG both lost more than 4%, dragging Germany's export-heavy DAX index to a 2.0% decline. Shares in BHP Billiton PLC were down 3.9% and Rio Tinto PLC lost 2.1%. Commodity prices, which are sensitive to Chinese demand, fell. Brent crude oil was down 2.4% at $46.16 a barrel. Yields on 10-year U.S. Treasury bonds fell 0.07 percentage point to 2.15%. The equivalent German yield fell a similar amount to 0.60%. Yields fall as prices rise. Most Asian bourses fell and currencies sank. Japan's Nikkei 225 index fell 0.4%. The Shanghai Composite Index ended flat. "The market is still trying to work out if this is a one-off move or the start of something more significant," said Talib Sheikh, a multiasset fund manager at J.P. Morgan Asset Management, which oversees $1.8 trillion in assets. "We think the risks are they'll have to engage in further measures" to weaken the currency, he added. Athens stocks bucked the trend after progress toward a third bailout for Greece. The Athex Composite index was 1.2% higher. Greek stocks saw some of the largest gains in Europe, with National Bank of Greece SA up 5.8%. Greece and its international creditors reached an agreement in principle to provide the country with a bailout worth as much as EUR86 billion ($94.4 billion), but some details remained unresolved. In currency markets, the euro was up 0.6% against the U.S. dollar at $1.1082. The Japanese yen fell 0.2% against the buck. Write to Christopher Whittall at christopher.whittall@wsj.com and Tommy Stubbington at tommy.stubbington@wsj.com (END) Dow Jones Newswires August 11, 2015 10:22 ET (14:22 GMT) © 2015 Dow Jones & Company, Inc. AAND ARCELORMITTAL LU0323134006 AAND ARCELORMITTAL NY REG US03938L1044 AAND BHP BILLITON DE NOT AU000000BHP4 AAND BHP BILLITON SP ADR US0886061086 AAND BHP BILLITON SP ADR US0886061086 AAND BHP BILLITON @ USD 0.50 GB0000566504 AAND DAIMLER DE0007100000 AAND KERING FR0000121485 AAND LVMH @ EUR 0.30 FR0000121014 DAIMLER AG ADR US2338251083 LVMH MOËT HENNESSY VUITTON SE US5024413065 P A PORSCHE AUTOMOBIL HOLDING DE000PAH0038 PORSCHE AUTOMOBIL HOLDING SE UNSP ADR EACH REP 0.1 PRF US73328P1066
Door Christopher Whittall en Tommy Stubbington
China's devaluatie van zijn munt schokte wereldwijde markten dinsdag, raken de voorraden en grondstoffen en het stimuleren van staatsobligaties.
De S & P 500 daalde 0,7% in het begin van de handel. De pan-Europese Stoxx Europe 600-index daalde 1,5% vroege namiddag. De olieprijs daalde ook fors, terwijl de vraag naar haven activa naar beneden geduwd obligatierendementen in de VS en Europa, omdat beleggers bang dat move Peking gesignaleerd groei zorgen over 's werelds tweede grootste economie.
De financiële markten hebben gereageerd op signalen dat de Chinese autoriteiten geloven dat het noodzakelijk is om op te treden om te stimuleren een kwijnende economische groei, zegt Ewen Cameron Watt, chief investment strategist bij BlackRock Inc. Investment Institute.
"Voor de markten van vandaag is het een zaak van de eerste shoot, vragen stellen," zei de heer Watt, wiens bedrijf houdt toezicht 4700000000000 $ aan activa.
Een zwakkere yuan zou de concurrentiekracht van de bedrijven buiten China gekwetst door het maken van hun producten en diensten relatief duurder, terwijl bedrijven die het genereren van omzet in China konden vinden omzet en winst gegenereerd in yuan minder in hun eigen valuta waard.
"Zorgen over wat dit zou kunnen betekenen voor het concurrentievermogen van het Westen versus het Oosten" rijden de beurs selloff, zei Chris Jeffery, een asset-allocatie strateeg bij Legal & General Investment Management.
Aandelen van bedrijven die exporteren naar China, met inbegrip van luxe-goederen bedrijven, autofabrikanten en mijnbouwbedrijven, kwam onder de meest intense druk.
In Europa, de aandelen in LVMH Moët Hennessy Louis Vuitton SE en Gucci-eigenaar Kering SA daalde meer dan 3%. Premium autofabrikanten BMW AG en Daimler AG zowel verloor meer dan 4%, slepen Duitse export-heavy DAX-index met een daling van 2,0%.
Aandelen in BHP Billiton PLC daalden met 3,9% en Rio Tinto PLC verloor 2,1%.
Grondstoffenprijzen, die gevoelig zijn voor de Chinese vraag zijn, viel. Brent ruwe olie daalde met 2,4% naar $ 46,16 per vat.
De rente op 10-jaars Amerikaanse staatsobligaties daalde 0,07 procentpunt tot 2,15%. Het equivalent Duitse opbrengst viel een vergelijkbaar bedrag tot 0,60%. De rendementen dalen als de prijzen stijgen.
De meeste Aziatische beurzen daalden en valuta zonk. Japanse Nikkei 225-index daalde 0,4%. De Shanghai Composite Index eindigde vlak.
"De markt is nog steeds bezig uit te werken als dit een eenmalige verhuizing of het begin van iets meer belangrijk", zegt Talib Sheikh, een multiasset fondsbeheerder bij JP Morgan Asset Management, dat toezicht houdt 1800000000000 $ aan activa.
"We denken dat de risico's zijn dat ze zullen moeten nemen aan verdere maatregelen" om de munt te verzwakken, voegde hij eraan toe.
Athene voorraden tegen de trend na de vooruitgang naar een derde bailout voor Griekenland.
De Athex Composite-index was 1,2% hoger. Griekse voorraden zag een aantal van de grootste winst in Europa, met de Nationale Bank of Greece SA 5,8%.
Griekenland en zijn internationale schuldeisers een akkoord bereikt in principe het land met een bailout evenveel waard als EUR86 miljard ($ 94400000000) te bieden, maar sommige details bleven onopgelost.
In markten munt, de euro steeg met 0,6% ten opzichte van de Amerikaanse dollar op $ 1,1082. De Japanse yen daalde met 0,2% ten opzichte van de buck.
Schrijf naar Christopher Whittall op christopher.whittall@wsj.com en Tommy Stubbington op tommy.stubbington@wsj.com
(END) Dow Jones Newswires
11 augustus 2015 10:22 ET (14:22 GMT)
© 2015 Dow Jones & Company, Inc.

voda 11 augustus 2015 16:59

0

US steel imports in July up by 4% MoM

Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis data, the American Iron and Steel Institute reported last week that steel import permit applications for the month of July total 3,241,000 net tons. This was a 4% increase from the 3,112,000 permit tons recorded in June and a 6% increase from the June preliminary imports total of 3,049,000 NT. Import permit tonnage for finished steel in July was 2,538,000, up 3% from the preliminary imports total of 2,458,000 in June.

For the first seven months of 2015 (including July SIMA and June preliminary), total and finished steel imports were 24,911,000 NT and 20,370,000 NT, respectively, down 0.2% and up 9% from the same period in 2014. The estimated finished steel import market share in July was 27% and is 31% year-to-date (YTD).

Finished steel imports with large increases in July permits vs. the June preliminary included standard rails (up 345%), reinforcing bars (up 137%), cold rolled sheets (up 18%), heavy structural shapes (up 15%) and hot dipped galvanized sheets and strip (up 13%). Products with significant YTD increases vs. the same period in 2014 include line pipe (up 55%), reinforcing bars (up 53%), standard pipe (up 32%), sheets and strip galvanized hot dipped (up 20%), tin plate (up 15%), plates in coils (up 14%), heavy structural shapes (up 13%), cold rolled sheets (up 13%) and cut lengths plates (up 12%).

In July, the largest finished steel import permit applications for offshore countries were for South Korea (298,000 NT, down 1% from June preliminary), Turkey (269,000 NT up 48%), China (262,000 NT, up 48%), Japan (149,000, down 26%) and Germany (149,000 NT, down 2%). Through the first seven months of 2015, the largest offshore suppliers were South Korea (3,345,000 NT, up 6% from the same period in 2014), Turkey (1,898,000 NT, up 73%) and China (1,770,000, down 1%).

Source : Strategic Research Institute

voda 11 augustus 2015 17:00

0

No government target fixed for steel production in India – Minister

Press Trust of India reported that the Parliament was informed that Indian government has not set any steel production target by 2025 as the output will largely depend on domestic demand and export potential.

Steel Minister Mr Narendra Singh Tomar said in a written reply to Lok Sabha on a query on the estimated target fixed for steel production by 2025 under the 'Make in India' programme said “Government has not fixed any target of steel production by 2025. Steel is a deregulated and market driven industry. Production of steel is based on the domestic demand and export potential.”

On several instances, the Steel Ministry has said that its target is to achieve a capacity of 300 MTPA by 2025. Clarifying on the issue, government sources said there cannot be a target for steel production, but the government has only said it is their vision.

Source : Business Standard

voda 11 augustus 2015 17:01

0

Steel rebar futures at SHFE hit 2 week low

Shanghai rebar futures dropped to two-week lows on Monday, reflecting weak demand in China that pushed producers to sell more overseas, with shipments last month the second highest on record.

The most-traded rebar for January delivery on the Shanghai Futures Exchange was down 0.8 percent at 2,044 yuan ($330) a tonne by midday, after hitting a low of 2,040 yuan.

The price of the construction steel product hit a record low of 1,951 yuan in July.
Shrinking domestic demand amid a slowing economy has fueled brisk steel exports from the country, with some Chinese steelmakers said to be selling output abroad at a loss, sparking anger from producers elsewhere. China exported 9.73 million tonnes of steel products in July, up 21 percent from a year ago, and near the record high of 10.29 million tonnes posted in January, according to government data released on Saturday.

Source : Reuters

[verwijderd] 12 augustus 2015 10:13

0

seekingalpha.com/news/2719726-u-s-ste...

[verwijderd] 12 augustus 2015 10:30

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quote:
Willem64 schreef op 12 augustus 2015 10:13:
seekingalpha.com/news/2719726-u-s-ste...

ik lees : Zware gevolgen
NIET GOED!

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