Eurobench.com

voda 9 september 2015 17:11

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Canadian iron ore exports in June up by 4.4% YoY

Scrap Monster reported that the iron ore exports by Canada jumped higher by 4.4% during the month of June this year. Among provinces, Quebec topped with total exports of 2.110 Mt. The iron ore exports totaled 3.613 Mt during the month, 4.4% higher when matched with the exports of 3.461 Mt during the same month a year before.

The exports of iron ore concentrates from Quebec totaled 1.623 Mt during June this year, followed by Newfoundland with 821,088 tons. The iron ore concentrate exports totaled 2.444 Mt, 4.1% lower when compared with the exports of 2.549 Mt during June 2014. The cumulative iron ore concentrate exports by the provinces dropped sharply by 18.3% from 12 Mt during Jan-June ’14 to 9.808 Mt during January to June this year.

The pellet exports from Newfoundland totaled 681,506 tons. The prices averaged at $76.4 per ton. Quebec exported 487,044 tons of iron ore pellets at an average price of $99.8 per ton. The pellet exports during the month surged higher by 28.1% from 912,329 tons in June ’14 to 1.169 Mt in June this year. The cumulative pellet exports during the initial six-month period of the year rose 14% year-on-year from 6.824 Mt to 7.779 Mt.

The value of iron ore exports by Canada during June ’15 totaled $275.623 million, significantly lower by 19% when compared with the iron ore export value of $340.418 million during June last year. The export prices witnessed sharp year-on-year decline of 22.4% from $98.4 per ton in June 2014 to $76.3 per ton in June ’15. Also, cumulative iron ore exports by the country during the period from January to June this year totaled 17.587 Mt, 6.6% lesser when compared with the previous year.]]

Source : Scrap Monster`

voda 9 september 2015 17:12

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Goa plans 6 E auctions in September to sell all illegal iron ore

Goa News reported that Goa government is planning to sell nearly 7 million tonnes of iron ore by month end, with six e-auctions planned in next 20 day. The government wants to clear all the iron ore through e-auctions before fresh mining operations begin, hopefully from October. The first e-auction of this last phase, of 1.1 million tonnes of iron ore, is being held today. Today’s e-auction would sell the ore stacked at the mining lease sites at Codli, Shirgao, Costi, Bicholim, Surla, Vagus Jetty, Cudnem plot and Tollem plant.

The government so far disposed off 5.7 million tonnes of iron ore through seven e-auctions held so far, fetching revenue of total INR 800 crore. The balance of unsold iron ore is around 6.8 million tonnes.

Mines director Mr Prasanna Acharya told goanews.com that the “Department has planned three e-auctions so far 9, 10 and 15 September. We are tentatively planning three more e-auctions – 22, 25 and 29 of this month. A little more than one million tonnes of ore would be e-auctioned every time in order to clear the total quota.”

The ore is being e-auctioned as per the Supreme Court guidelines, when the site inspection identified almost 12.5 million tonnes of iron ore – lying unclaimed - at the lease sites, plants, few plots as well at the jetties. The government now e-auctions this ore through Metal Scrap Trading Corporation (MSTC) under supervision of Supreme Court appointed monitoring committee.

Source : Goa News

voda 9 september 2015 17:13

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Keonjhar and Sundargarh yearly iron ore output capped at 50 million tonnes

Business Standard reported that lackluster dispatch from iron ore mines has prompted Odisha to settle for a lower cap on iron ore output from non captive mines in Joda and Koira, the two most prolific ore producing sectors spread across mineral rich Keonjhar and Sundargarh districts. Iron ore production from these two mining circles has been capped at 50 million tonne for this fiscal, 12% less than 57 million tonnes for last fiscal.

The downward revision could have an implication on ore availability for steel industries who have been clamouring for higher production from merchant mines to stabilise prices.

A senior government official told BS “There is not much demand for iron ore from steel industries within the state. The offtake from mines is unsatisfactory. Hence, we have gone for a lesser ceiling on iron ore production from Joda and Koira this fiscal despite the fact that more iron ore mines have opened up for operations.”

The state government has formed a sub-committee under the aegis of the state level task force on mining. The committee, chaired by secretary (steel & mines) has met twice to draw up the plan on capping iron ore production. The ceiling has been arrived at after considering a host of factors like environmental impact, condition of road infrastructure and carrying capacity of the region.

Steel units feel putting a cap on mineral output is a restrictive trade practice. They feel hike in production would release more iron ore to the market and help stabilise prices. Mr Manish Kharbanda, executive director and group head (mines & minerals), Jindal Steel & Power Ltd said “Putting a cap on iron ore output is a restrictive practice. But if the government has come up with the cap after considering different factors, it should ensure that the prescribed production limit is met. Punitive action needs to be taken against the merchant miners who do not keep to the production limit.”

As of now, only 46 out of 143 iron ore mines are operational in the state. Of the 46 operational mines, eight are captive mines while the rest 38 being merchant mines. The merchant mines have a combined production capacity of 106.07 million tonne per annum. Iron ore production in Odisha crashed to 47.35 million tonne in 2014-15 compared to 77.91 million tonne in the year ago fiscal as several key mines remained under shutdown due to the Supreme Court's order.

Source : Business Standard

voda 9 september 2015 18:05

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Staalbaas vreest ontslaggolf in Europa

Gepubliceerd op 9 sep 2015 om 17:19 | Views: 1.392

DÜSSELDORF (AFN/DPA) - Door de enorme overcapaciteit bij Europese staalfabrieken staan tienduizenden arbeidsplaatsen op de tocht. Als Europese fabrieken zich aanpassen aan de vraag, dan verdwijnen mogelijk 70.000 van de huidige 350.000 banen, verwacht de voorzitter van de World Steel Association, Wolfgang Eder.

Volgens Eder, die ook topman is van het Oostenrijkse staalconcern Voestalpine, is de productiecapaciteit van Europese staalfabrieken momenteel 30 tot 40 miljoen ton te groot. De fabrieken kunnen samen 210 miljoen ton staal produceren, maar hebben slechts een capaciteit voor zo'n 170 miljoen ton nodig.

Volgens Eder worden staalfabrieken daarnaast tegengewerkt door politiek beleid dat de prijzen opjaagt. Als daarin niets verandert, halveert de vraag naar Europees staal in de periode tot en met 2030, voorspelde hij.

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gpjf 9 september 2015 18:33

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Nou hij kijkt er ook al heel triest bij maar hij dringt gewoon aan op maatregelen van de politiek en anders dan .....

[verwijderd] 10 september 2015 12:12

0

finance.yahoo.com/news/why-bhp-delive...

voda 10 september 2015 20:45

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Mechel reports restructuring of RUB 70 billion loan with VTB

Mechel OAO, one of the leading Russian mining and metals companies, has reported restructuring its loan with VTB Bank totaling approximately 70 billion rubles. Mechel OAO and the group's enterprises Southern Kuzbass Coal Company OAO, Yakutugol Holding Company OAO and Chelyabinsk Metallurgical Plant PAO acted as borrowers on the loans.

Source : Strategic Researcj Institute

voda 10 september 2015 20:45

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Fives Group and Mongolia Baotou Steel ink 10 year technology support pact

A 10 year contract has been signed between Fives Group and Inner Mongolia Baotou Steel Union Company, the largest iron and steel manufacturer in North Western China. The deal involves the provision of technical support for the development and production of a wide range of high value added automotive steels covering upstream and downstream processes.

The cooperation agreement embraces hot-rolling, pickling, cold-rolling, annealing and galvanising and includes training, technical support at a high level and development and certification of new high-end automotive steels.

A previous contract between the two companies include one for two automotive hot dip galvanising lines and Stein Digiflex vertical furnaces for two continuous annealing lines with an Advan Tek combustion system and Flash Cooling technology.

Source : Steel Times International

voda 10 september 2015 20:47

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South African steel imports in July surge bu 25% MoM

South Africa's primary carbon and alloy steel product imports (excluding semi-finished steel, stainless steel and drawn wire) amounted to 139,399 mt in July this year, increasing by 25.4 percent compared to June and up 127.9 percent from July 2014, according to the customs and excise data released by the South African Iron and Steel Institute (SAISI).

The country's primary carbon and alloy steel product imports during the first seven months of this year amounted to 916,866 mt, increasing by 64.9 percent from 555,982 mt in the corresponding period of 2014. Of South Africa's total primary carbon and alloy steel product imports in the first seven months of this year, 739,764 mt consisted of flat steel products, up 61.3 percent year on year.

South Africa's total imports of primary carbon and alloy steel products during the 12 months from August 2014 to July 2015 amounted to 1,322,319 mt, indicating an increase of 33.9 percent compared to the corresponding 12-month period one year earlier.

Source : SteelOrbis

voda 10 september 2015 20:49

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Real estate slowdown hits Indian steel industry hard

Mint recently reported that poor demand in the housing sector has started taking a toll on the already weak steel sector. While the sector is reeling under slow demand and cheap imports, a slowdown in the real estate sector has made things worse.

Steel mill owners from different parts of the country, that Mint spoke to, estimated that demand from the real estate sector this year has fallen by about 40% when compared with last year.

According to a recent report by real estate consultancy Knight Frank, new launches in the residential real estate sector have fallen by 68% in the National Capital Region and 48% in Mumbai. This has affected the demand for steel, which is used most in the initial stages of construction.

Dr AS Firoz, chief economist, economic research unit, JPC said “The housing segment is very slow and not moving at all; organized real estate is in a bad shape. Individual housing is still doing better.”

While smaller steel mills are the worst affected, larger ones such as Tata Steel Ltd have acknowledged that the slowdown in the real estate sector is weighing on already weak demand. The report quoted a spokesperson for Tata Steel as saying that “Since 2013, demand for steel in the housing sector has shown nominal growth. However, demand, especially from project developers and builders, has been consistently decreasing quarter on quarter.”

To be sure, the steel sector is not the only one feeling the brunt of the real estate slowdown. Cement demand too has been impacted. No official data for growth in cement demand are available.

Source : Mint

voda 10 september 2015 20:50

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South African government set to meet steel industry players

Mail & Guardian reported that a task team formed to curb job losses in the South African steel industry is expected to meet with government in the next two weeks. As industry players scramble to prevent a total shutdown of the industry within the next six months, a task team formed to curb job losses in the steel industry is expected to meet with government in the next two weeks.

On the agenda are more tariff applications and a discussion on government’s progress in implementing anti-dumping measures.

The task team consisting of unions and steelmakers was formed in August and urgently sought to meet with government. It is estimated that 190 000 jobs are on the line across the sector, with the imminent closure of all major steel producers.

That meeting took place on August 18, where government committed to ensuring that applications for tariffs on steel imports would be considered. Business and labour had demanded anti-dumping measures, among a host of other interventions to stem what industry leaders called “blood on the floor” in terms of job losses.

On Tuesday, President Jacob Zuma met with mining industry role players in an attempt to curb an expected 12 000 job losses in that industry. The mining industry is expected to be hard hit by the closure of steel mills, too.

The National Union of Metalworkers of South Africa (Numsa)’s head of collective bargaining, Steve Nhlapo, told the Mail & Guardian at the time that the steel task team had been initiated when the union became inundated with notices of intention to retrench workers. He said it was impossible to deal with all of the notices in a piecemeal manner.

Source : Mail & Guardian

voda 10 september 2015 20:51

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Brazilian steel mills CEOs seek support from government

BNAmericas reported that the heads of Brazil's leading steel producers asked finance minister Mr Joaquim Levy to provide more support to the industry that is being battered by strong economic headwinds. During a meeting with Mr Levy, they explained that the sector was in the grip of an unprecedented crisis. *Those who reportedly attended were Gerdau chairman Mr Jorge Gerdau and the firm's CEO, Mr André Gerdau Johannpeter; CSN CEO Mr Benjamin Steinbruch; ArcelorMittal CEO and IABr chairman Mr Benjamin Baptista; Mr de Mello Lopes and Usiminas president Mr Rômel de Souza.

IABr CEO Mr Marco Polo de Mello Lopes was quoted as saying “We showed the minister that the combination of structural factors such as high power costs, tax burdens and interest and exchange rates, together with the country's associated issues, have led to the worst crisis in the industry's history. We told the minister that if no action is taken, Brazil will reach 2016 with almost half (46%) of its steel consumption coming from abroad, mostly from China.”

According to Mr Mello Lopes, the local steel industry has halted operations at plants and laid off 12,000 workers over the last 12 months.

The association is pushing the government to bring back the original format of the Reintegra tax rebate program, which was designed to bolster local manufacturers by reimbursing them for 3% of the value of exports. Currently, the rate is 1%. He said “Reintegra rates should not be 3%, they should be 7% or 8%. In China, a similar program pays back 17% [of exports].”

The sector representatives also asked for the country's trade defense mechanisms to be more "agile," to protect the domestic industry from floods of Chinese steel imports. He said “The minister has shown he is interested and responsive to all of the presented requests.”

IABr forecasts steel sales will drop 16% this year based on January to August data. Apparent consumption is expected to drop 13%. The country's mills are operating at an average 69% capacity.

Source : BNAmericas

voda 10 september 2015 20:51

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Examining Steps to check dumping in Indian steel sector – Mr Jaitley

Outlook reported that India’s Finance Minister Mr Arun Jaitley on Wednesday said that the government is examining more steps to check dumping of steel, a move which will help the industry deal with cheap imports of the metal.

He said at India Summit 2015 that “We are looking and seriously examining other steps so that sectorally we can address the problem which can be defensive against dumping of steel in the country.”

He said “As far as steel is concerned, we have to balance the interest of the consuming industry along with the steel manufacturing industry. It is an external issue. So we have marginally increased our tariffs twice.”

In view of surge in import of various categories of steel, the Directorate General of Safeguardsearlier this week initiated an inquiry into the imports of steel from China, Korea, Japan and Russia and has recommnede imposition of 20% ad valerm safeguard duty on HR import for 200 days, which needs to be approved by finance minetr and implemented.

Source : Outlook

voda 10 september 2015 20:52

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JSW Steel crude steel output drops 4% YoY to 1.066 million tonnes in August

PTI reported that JSW Steel has registered a four per cent fall in crude Steel production at 10.66 lakh tonnes in August, 2015 as compared to 11.16 lakh tonnes in the same month last year.

The production of flat rolled products registered a 4 per cent decline at 8.46 lakh tonnes in August, 2015 as compared to 8.80 lakh tonnes in the corresponding month last yea

However, the production of long rolled products registered a growth of 3.57 per cent at 2.03 lakh tonnes in August this year as compared to 1.96 lakh tonnes in the corresponding month of 2014.

Source : PTI

voda 10 september 2015 21:25

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Shrinking iron ore imports signal Chinese slowdown

Bloomberg reported that China’s iron ore imports contracted last month, adding to evidence that a deepening slowdown in the world’s second-biggest economy is hurting demand for raw materials. Inbound cargoes fell 14 percent to 74.12 million tonnes from 86.1 million tonnes in July, which was the highest level this year. Imports for the first eight months declined 0.2 percent to 613 million tonnes.

After decades of rapid growth and an unprecedented expansion in steel production, China is now grappling with excess capacity as a property-led slowdown crimps demand. Iron ore prices tumbled in July to their lowest in at least six years as surging low-cost output from Rio Tinto Group in Australia and Brazil’s Vale SA swamped the market.

Deadly explosions at Tianjin port last month also disrupted shipments and may have reduced the import figure, according to Shenhua Futures Co. Mr Wu Zhili, a Shenhua analyst in Shenzhen, said “The latest trade figures probably bore out the impact from the Tianjin blast though the effect wasn’t huge. China’s weakening demand is the broader trend. Iron ore imports probably peaked last year so we’ll see purchases sustained at current levels or slightly lower.”

Source : Bloomberg

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voda 10 september 2015 21:27

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Iron Road inks 5 MoUs with Chinese steel companies

Australian company Iron Road has signed five separate non binding memorandum of understandings with Chinese steel companies to study the benefits of high grade Central Eyre Iron Project concentrate on steel mill performance. Under the MoU terms, the companies will conduct technical evaluations of the project verify its commercial and technical merits, with discussions then held towards signing a letter of intent for the long-term supply of CEIP concentrate.

Shandong Iron & Steel Group, one of the MoU parties, has signed a further agreement, progressing its intention to enter a LoI with Iron Road. The MoUs are aimed at establishing a detailed understanding of the commercial and technical benefits the CEIP product will deliver for steel mills. The proposed LoI will cover supply of iron products to ShanSteel from the CEIP. Under the agreement, both companies will also collaborate to seek a project funding solution to enable the latter to reach a final investment decision to begin construction during 2017.

Iron Road managing director Mr Andrew Stocks said "Our high-quality product from the CEIP offers significant advantages for steel mills intent on running the most efficient and environmentally compliant operations, hence the strong interest we have received from a number of parties. The MoUs are aimed at establishing a detailed understanding of the commercial and technical benefits the CEIP product will deliver for steel mills, prior to entering a letter of intent for the long-term supply of iron ore product from the CEIP."

The company also looks to partner with ShanSteel with regard to the completion of its final preparations before funding of the project.

Source : mining-technology.com

voda 10 september 2015 21:27

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Base price cut improves results in Goa iron ore auction on Tuesday

Business Standard reported that a sharply lower base price yielded results in the eighth round of iron ore auctions conducted by the Goa government on Tuesday. Bidders booked 250,000 tonnes of the 1.1 million tonnes of iron ore for sale. The response was better than in the previous auction, when bidders had bought 55,000 tonnes of 1.01 million tonnes put for sale.

The government had reduced the base price of low grade ore by up to 72 per cent for the latest auction. The base price for ore with 63 per cent iron content was reduced to INR 500 a tonne in the eighth auction from INR 1,800 in the previous one. Base prices for ore with 59-61 per cent iron were likewise set at INR 500-860 a tonne, down from INR 1,530.

Mr Haresh Melwani, chief executive officer, HL Nathurmal & Co, a miner in Goa said “While the selling price was not made public, it is estimated bidders booked ore at near the base price.”

When mining was banned in the state in 2012, the government took control of 15 million tonnes of ore from private miners. Of this nearly six million tonnes have been sold. The rest is in various stages of being auctioned. The state government has expedited ore auctions to clear the mine sites ahead of recommencement of mining in the state by the end of September. Ore is, however, yet to be lifted from the sites due to bureaucratic and legislative hurdles.

Source : Business Standard

voda 10 september 2015 21:28

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Rally in iron ore is unlikely to last - CBA

Business Insider Australia reported that though the iron ore price has enjoyed a stellar run of late, rising nearly 30% to the highest level seen in over two months, with Chinese steel demand weak, production falling and elevated prices inviting high cost Chinese iron ore producers to stay in production, the outlook for prices and Chinese import volumes remains lower.

That’s the downbeat assessment of Vivek Dhar and Kofi Mensa, commodity researchers at CBA, who believe that in the absence of a broad-based stimulus package for China’s commodity intensive sectors, the outlook for iron ore prices, and demand, remains weak.

Here’s a snippet from a research report they released

The fall in China’s iron ore imports in August raises concerns that the recent yuan devaluation has improved the competitiveness of China’s domestic iron ore supply. We previously saw mothballed high-cost supply in Hebei re-entering the market when iron ore prices rose above US$60/t (CFR China). The devaluation of the yuan may have improved the viability of domestic supply with iron ore prices in the mid US$50s. While we still expect low-cost iron ore supply from Brazil and Australia to displace high-cost supply in China, we may still see China’s iron ore imports fall this year due to weak steel production and demand”.

Without another commodity-intense stimulus package from China’s government – something that the pair see as unlikely – they remain of the view that the spot iron ore price will come under renewed selling pressure.

Along with weak Chinese steel production and weak domestic steel demand, the pair point to the commissioning of the 26.5 million tonne p.a. Minas Rio project in Brazil, along with the start-up of the 55 million tonne p.a. Roy Hill project in Australia, as examples of increased seaborne supply that will likely weigh on prices in the period ahead.

Source : Business Insider Australia

mvliex 1 11 september 2015 08:48

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'Arcelor investeert 140 miljoen in Gent'

Gepubliceerd op 11 sep 2015 om 08:45
AMSTERDAM (AFN) - Staalconcern ArcelorMittal gaat in Gent staal produceren dat auto's lichter maakt, met de uitstoot van minder schadelijke stoffen tot gevolg. Dat meldde de Belgische zakenkrant De Tijd vrijdag. Voor de productie investeert het bedrijf de volgende drie tot vier jaar zo'n 140 miljoen euro.

De grootste staalproducent ter wereld spreekt van Fortiform-gamma, ultrasterk staal voor de autosector. Door de sterkte en vormbaarheid is daardoor minder staal nodig in een auto. Er komen twee categorieën: een die de auto-onderdelen 10 procent lichter maakt en een die ze 20 procent lichter maakt.

www.iex.nl/Nieuws/ANP_ANP-110915-055/...

voda 11 september 2015 17:05

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Drama of Ilva Steel Plant to be staged at Kolkata

AGI recently reported that the drama of Taranto's Ilva Steel Plant will be staged in Calcutta on Friday by the "Instabili Vaganti" drama company. The play is based on the real-life experience of some of the workers in Europe's largest steel plant.

"Made in Ilva" is based on the diary of a steel worker and the testimony of some of his colleagues, who were interviewed by the company, accompanied by the poetic texts of Luigi di Ruscio and Peter Schneider.

The script refers to factual incidents in the steel plant that shapes the life of the whole city of Taranto, and tells the story of its workers who are torn between the desire to evade and escape from the incandescent steel cage and the need to continue working in that lethal environment, causing scores of deaths at the workplace and huge environmental damage.

The play is the fruit of in-depth research together with physical and vocal experimentation on the relationship between the organic nature of the body and the inorganic actions of factory work, leading to criticism of the alienating processes of contemporary industrial production.

Anna Dora Dorno is the director, conductor of the live original songs and also the narrating voice, together with Nicola Pianzola, to the accompaniment of music by Riccardo Nanni. After Calcutta, the show will be staged in Pondicherry, in south-east India.

The performance has been organised by the Italian Culture Institute in New Delhi in collaboration with the Indian Council for Cultural Relations, Kolkata and Arshinagar Project.

Source : AGI recently

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