Eurobench.com

voda 24 september 2015 20:34

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Hebei Steel plans to build steel plant in South Africa in 2017

Reuters reported that China's Hebei Iron and Steel Group is planning to build a 5-million tonne per year steel plant in South Africa in 2017

Mr Zhang Hai, vice president at Hebei Iron and Steel, told an industry conference “We are now choosing a location.”

MrZhang said the company is also aiming to take over steel mills in eastern Europe, but added that talks are still at an early stage.

Source : Reuters

voda 24 september 2015 20:37

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CISA sees Chinese steel exports exceeding 100 million tonnes in 2015

Reuters reorted that China's total steel product exports are likely to exceed 100 million tonnes this year, Mr Wang Liqun, the vice-chairman of the China Iron and Steel Association, told reporters on Wednesday.

Mr Wang said on the sidelines of an industrial conference that the government was now considering making further adjustments to the country's steel product export taxes. He did not give further details.

Foreign markets have provided a lifeline for Chinese steel producers struggling with overcapacity and weak domestic demand.

In the first eight months of the year, product exports reached 71.87 million tonnes, up 26.5 per cent compared to the same period of 2014.

Source : Reuters

voda 24 september 2015 20:38

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USW to resume talks with US Steel and ArcelorMittal

NWI Times reported that United Steelworkers union will resume contract talks with ArcelorMittal and US Steel, two of Northwest Indiana's largest employers. ArcelorMittal had walked away from the bargaining table, and the USW took a break from negotiations with US Steel last week.

The USW wanted to survey members on what to do next, since the steelmakers haven't budged on proposals to cut benefits.

After consulting with rank-and-file steelworkers at the locals, the union negotiating committee will meet again with Pittsburgh-based U.S. Steel and Luxembourg-based ArcelorMittal to try to work out their differences.

The USW said in an update to members that the bargaining team will return to Pittsburgh and resume talks on Sunday.

"U.S. Steel bargaining committee is returning to PGH to meet w/company on 9/27," the USW said in the update. "Parties remain far apart on key issues. Stay strong."

The union also said talks with ArcelorMittal were set to resume Monday next week, but that it was planning a solidarity action on Sept. 30.

"It is vitally important that everyone understands the issue and ArcelorMittal management's unfair and unnecessary demands, and we believe that sharing this important information is essential to build membership solidarity within and between our locals. Our negotiating committee appreciates the visible and vocal support displayed by USW members at all locations throughout this process, and we are counting on your continued unity and solidarity."

US Steel and ArcelorMittal are asking for several concessions, such as on health care, overtime, profit-sharing, severance, vacation shutdown notice, seniority transfers, and sickness and accident benefits. Under US Steel's proposal, steelworkers could have to pay up to $6,300 a year more in out-of-pocket health care costs, cutting their overall compensation since they would get no raises.

Source : NWI Times

Bijlage:

voda 24 september 2015 20:44

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Indian iron ore imports set to fall this FY as domestic prices have corrected

Financial Express reported that according to the Federation of Indian Mineral Industries, India’s iron ore imports are set to decline drastically during the current financial year as the domestic production has shown considerable improvement and prices have seen a downward correction. The import of the iron ore is projected at 6 million tonnes in FY16, about 60% lower than last financial year when Indian steel makers imported a record level of 15 million tonnes

Mr RK Sharma Secretary General of FIMI said “There is an abundant quantity of iron ore available in the country. The total stock lying at various mines is estimated at 150 million tonnes. In addition, there will be fresh production this year. Overall, there is no need to import iron ore in the country.”

Mr Sharma said “The steel mills are hardly producing around 45 million tonne of steel using iron ore as raw material, while the balance 42 million tonnes of steel is produced by induction furnaces, which do not use iron ore. This means, the requirement of iron ore for integrated steel mills is not much and whatever they require is available in the country.”

Mr Basant Poddar senior VP of FIMI added “Currently, the domestic iron ore with 62% Fe grade is available at INR 2,500 per tonne, which is 50% lower than the landed cost of imported iron ore. Whereas the imported iron ore with similar grade costs INR 4,500 per tonne to INR 5,000 per tonne. So, there is not much scope for importing iron ore this year. 62% Fe-grade iron ore fines were sold at INR 4,500 per tonne about a year ago. Going by the current trend, the total imports for this year will not exceed 6 million tonnes.”

For the period April to August 2015, steel mills and traders imported around 2.8 million tonnes of iron ore. JSW Steel, which was the largest importer of iron ore last year at 10 million tonnes, has imported barely 700,000 tonnes in the first five months of the current financial year. Apart from JSW Steel, other importers this year include Tata Steel, Essar Steel, KIOCL and private traders.

Iron ore production for the fiscal 2016 is estimated at 160 million tonnes, if Goa opens up mining, otherwise it will be in the range of 145-150 million tonne compared to 129 million tonnes in FY15

Source : Financial Express

Yabbedabbedoe 25 september 2015 09:27

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quote:
737 driver schreef op 24 september 2015 19:54:
Overigens, waarom komt AM niet eens met een persbericht naar buiten dat ze geen schokkende zaken verwachten bij de cijfers? Als de winst zou tegenvallen, hadden ze allang een persbericht de wereld ingestuurd?

Een winstwaarschuwing zou helemaal killing zijn voor het aandeel. Ik hoop dat AM nu weer eens de weg omhoog vind. China verwacht een groei van 6.5%-7% ipv 7.5% en de hele beurs zakt bijna 30% en AM bijna 50%. Wordt er lichtelijk niet goed van.

Ik voel met je mee..... Vandaag gelukkig wat groen maar nog een lange weg te gaan.

voda 25 september 2015 16:31

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AK Steel applauds USITC ruling on imports of Hot Rolled Steel

AK Steel said that the US International Trade Commission has made a preliminary determination that hot-rolled steel produced in seven foreign countries is causing injury to AK Steel and the domestic steel industry. The preliminary injury determination means that cases against hot-rolled steel imports from the seven named countries will proceed.

Source : Strategic Research Institute

voda 25 september 2015 16:32

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Hopes rise for worker pay deal at SSI Teesside - Report

The Northern Echo reported that an eleventh hour deal is being thrashed out to ensure thousands of Teesside steel workers get their monthly pay packets tomorrow morning. The Government has been locked in negotiations with SSI and its financial backers to agree an export tax rebate that freed up more than GBP 4 million to pay salaries on time.

All week fears have mounted that the cash-strapped firm would fail to pay wages following its decision a week ago to suspend production at Redcar steelworks because it had run out of money. Workers have endured seven days of agony as Thailand-based SSI has refused to outline its plans and ignored repeated requests for face to face talks with Tees MPs and unions.

Ministers have said that efforts by the Treasury to free up tax revenue showed the Government was aware of the urgency of the situation.

If wages do appear in bank accounts it will give steelworkers and their families only temporary respite. The next crisis on the horizon is the perilous state of Redcar Coke Ovens which will run out of fuel this weekend. Unless they are kept alight the ovens will suffer massive damage, leaving SSI, or future plant owners with a multi-million pound bill, and cast more doubt on the plant’s survival hopes.

Ironically, there is a huge stockpile of coal at the site that could power the ovens, but unless SSI can find the money to pay for it, County Durham fuel supplier Hargreaves Services will not allow it to be used. Ships are waiting off Teesport laden with raw materials, but SSI is unable to pay for the cargoes to be unloaded that would stop the furnaces going cold.

Source : The Northern Echo

voda 25 september 2015 16:33

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GMS update on shipbreaking in China in Week 38 - HUGE MOVES!

The Chinese market produced the most astounding of recoveries last week as ship recycling rates improving by as much as USD 50/LT LDT over a few short weeks.

The gap now appears to be closing with the Indian sub-continent markets, especially after the Chinese market endured a decidedly depressing year so far on international tonnage. Of course, the state subsidies have seen a decent number of Chinese flagged government vessels concluded to domestic yards, but this has not been enough for one of the largest ship-recycling locations in terms of capacity.

This improvement in levels will presumably filter through to sub-continent locations in the coming week(s) and bring with it, a degree of positivity and (hopefully) improved rates going into the last quarter of the year.

Source : GMS Weekly

voda 25 september 2015 16:34

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South Korea complains to Japan over structural steel dumping

Korea Herald reported that South Korea has urged Japan to take action on the growing dumping of structural steel beams from the country, seeking to settle the issue peacefully. The issue was discussed at the 16th Korea-Japan Consultative Meeting on Steel Products held in Seoul. Officials from the nation’s major steelmakers attended the meeting, including POSCO, Hyundai Steel and Dongkuk Steel.

The Industry Ministry expressed its concerns over alleged unfair pricing of imported steel from Japan to its Japanese counterpart.

Mr Kim Jong-chul, head of the ministry’s metals chemicals division, said after the conference “The conference served as an opportunity for the two countries to have a candid discussion about some errors and trade conflicts in the steel industry. The two ministries agreed on an amicable resolution via communication channels between the governments and industry, should there be further conflict.”

According to data, imports of Japanese channel sections jumped 50.2 percent in the first quarter to record 21,000 tons. Single angle steel beams soared 28.7 percent at 34,000 tons during the same period.

Korean manufacturers of structural steel beams were reportedly planning to file a petition seeking punitive tariffs of up to 15 percent for alleged unfair pricing of imported steel from Japan. Market insiders said Japanese structural steel beams were imported at prices that are 19 percent lower than prices at home. The steelmakers have reportedly reviewed the legitimacy of the legal action since July and were planning to file the complaint in November if they fail to reach an agreement.

Source : Korea Herald

voda 25 september 2015 16:35

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EU imposes anti dumping duty Indian ductile cast iron pipes

PTI reported that the European Union has imposed a provisional anti-dumping duty of up to 31.2 per cent on imports of water and sewage pipes from India for six months to protect its industry. While 15.3 per cent provisional anti-duping duty has been imposed on exports by Electrosteel Casting Ltd, there would be 31.2 per cent levy on shipments from Jindal Saw Ltd and other companies.

Commission has said in its Official Journal “The European Commission in its anti dumping probe has concluded at this stage that the material injury to the European Union industry was caused by the dumped imports from India. On the basis of this conclusion provisional measures should be imposed to prevent further injury being caused to the European Union industry by the dumped imports.”

The Commission had initiated an anti-dumping investigation with regard to imports into the EU of tubes and pipes of ductile cast iron, used for drinking water supply, sewage disposal and irrigation of agricultural land, originating from India on December 20, 2014.

The Indian import volumes increased significantly by over 22 per cent during October 2013 and September 2014.

The probe was initiated following complaints by Saint-Gobain PAM group on behalf of producers.

Source : PTI

Bijlage:

voda 25 september 2015 16:38

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USITC to continue probe on HR from Australia, Brazil, Japan, Korea, the Netherlands, Turkey and UK

The United States International Trade Commission has determined that there is a reasonable indication that a US industry is materially injured by reason of imports of certain hot-rolled steel flat products from Australia, Brazil, Japan, Korea, the Netherlands, Turkey and the United Kingdom that are allegedly sold in the United States at less than fair value and allegedly subsidized by the governments of Brazil, Korea, and Turkey.

As a result of the Commission’s affirmative determinations, the U.S. Department of Commerce will continue to conduct its investigations on imports of these products from Australia, Brazil, Japan, Korea, the Netherlands, Turkey, and the United Kingdom, with its preliminary countervailing duty determinations due on or about November 4, 2015, and its preliminary antidumping duty determinations due on or about January 18, 2016.

Product Description: The products covered by these investigations are certain hot-rolled steel flat products. The products covered include coils that have a width or other lateral measurement (“width”) of 12.7 mm or greater, regardless of thickness, and regardless of form of coil (e.g., in successively superimposed layers, spirally oscillating, etc.). The products covered also include products not in coils (e.g., in straight lengths) of a thickness of less than 4.75 mm and a width that is 12.7 mm or greater and that measures at least 10 times the thickness. Covered products include those with or without patterns in relief, and whether or not annealed, painted, varnished, or coated with plastics or other non-metallic substances. Covered products do not include those that are clad, plated, or coated with metal.

Status of Proceedings:
1. Type of investigations: Preliminary antidumping and countervailing duty.
2. Petitioners: AK Steel Corporation (West Chester, Ohio), ArcelorMittal USA, LLC (Chicago, Illinois), Nucor Corporation (Charlotte, North Carolina), SSAB Enterprises, LLC (Lisle, Illinois), Steel Dynamics, Inc. (Fort Wayne, Indiana), and United States Steel Corporation (Pittsburgh, Pennsylvania).
3. Preliminary investigations instituted by the USITC: August 11, 2015.
4. Commission’s conference: September 1, 2015.
5. USITC vote: September 24, 2015.
6. USITC determinations due: September 25, 2015.
7. USITC views due: October 2, 2015.

U.S. Industry:
1. Number of producers in 2014: Ten.
2. Location of producers’ plants: Alabama, Arkansas, California, Illinois, Indiana, Iowa, Kentucky, Michigan, Mississippi, Ohio, Oregon, Pennsylvania, and South Carolina.
3. Employment of production and related workers in 2014: 13,014.
4. Apparent U.S. consumption in 2014: $44.3 billion ($21.3 billion merchant market).
5. Ratio of the value of total U.S. imports to total U.S. consumption in 2014: 9.6% (20.0% for merchant market).

U.S. Imports:
1. from subject countries during 2014: $1.9 billion.
2. from other countries during 2014: $2.3 billion.
3. Leading sources during 2014, in terms of value: Canada, Korea, Russia, and Japan.

voda 25 september 2015 16:38

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Ministry sees Indian steel sector in crisis till 2017

PTI reported that a steel ministry official said that Indian steel sector, which is passing through a global over supply crisis, may take another 18-24 months for revival

Ministry of Steel Joint secretary Mr Syedain Abbasi said at industry event said that “We have assessed the steel situation within the ministry and according to that assessment the industry is expected to remain under stress for the next 18 to 24 months.”

He added that “Government is there to help out the industry in these difficult times. We have imposed safeguard import duty on steel and have taken up the issue of easing the external commercial booking norms for the steel industry with the Finance Ministry.”

He however added "I can understand the industry is facing unfair competition from the Chinese producers. But 5-7 per cent steel import is healthy domestic industry. Import is necessary for fair pricing of steel in the country.”

He said “Indian steel demand is expected to remain robust in the current financial year with the consumption expected to rise 5-6 per cent a year.”

Source : PTI

[verwijderd] 27 september 2015 05:48

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conclusie?

gpjf 27 september 2015 10:24

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Nou volgens mij en eerste aanzet tot importheffingen wereldwijd voor dumping Chinees staal ter bescherming van overige grote staalbedrijven met als gevolg direct oplopende koersen van deze aandelen.

voda 27 september 2015 16:47

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Metalloinvest supplies rolled steel for Victory bridge over the Nadym River

Ural Steel (part of Metalloinvest) has supplied complete package of rolled steel for the construction of the Victory bridge over the Nadym River, which connected the Yamal Peninsula with Central Russia and the Urals.

Source : Strategic Research Institute

voda 27 september 2015 16:48

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War of words at industry summit on Steel Product Quality Contorl Order

Steel and structural experts during an industry event have expressed concern at use of sub standard use of carbon steel rebars mostly being manufactured by unorganised sector in the country and being imported from China and other countries in the major infrastructural projects in the country.

Source : Strategic Research Institute

Bijlage:

voda 27 september 2015 16:49

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Sponge iron producers want to bid for captive iron ore mines

Financial Express reported that Indian sponge iron producers, which source their key input iron ore from the open market, have urged the mines ministry to advise states to allow them to bid for captive iron ore mines in the forthcoming auction of mineral leases as currently, under the Mineral (Auction) Rules, 2015, only integrated steelmakers are allowed to bid for captive ion ore mines.

Mr Deependra Kashiva, executive director, Sponge Iron Manufacturers’ Association said “Iron ore constitutes more than half of the cost of production of sponge iron. Having a captive source of iron ore would give us the opportunity of sustainable operations and growth.”

He said “At full capacity, the industry would need around 92 mt of iron ore a year although utilisation was just 40% last fiscal. Captive mines would help the industry to hedge from the vagaries of price fluctuations and secure supply.”

India’s sponge iron industry is the world’s largest, with around 48 mt installed production capacity. These units, mostly located in the tribal districts of Odisha, Chhattisgarh, Karnataka and Jharkhand, buy iron ore from the open market. There are some 300 such units of varied size, ranging from 0.2 mtpa to 1 mtpa and they use mostly low grade iron ore and domestically available coal. The units cater mostly to secondary steelmakers

Source : Financial Express

voda 27 september 2015 16:49

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Mediation begins for US Steel Canada - Report

chch.com reported that mediation between the province and U.S. Steel Canada has started. The United Steelworkers union has also been directed by the courts to participate. That comes ahead of a court hearing, where the company is seeking to suspend payments of benefits to their pensioners, and an extension of its bankruptcy protection.

US Steel Canada says they will have to cease production entirely by the end of the year unless it is able to cut off health-care benefits for more than 20,000 retirees and dependents, and halt all municipal tax payments.

The salaried employees and retirees argue the company should be prevented from taking any action on production until a hearing is held on the union’s application for an injunction. That hearing is set for later this month after three scheduled days of mediation.

CHCH News spoke with Bill Ferguson, president of USW Local 8782 at the Lake Erie Works in Nanticoke. He says US Steel removed 15,000 tonnes of capacity from the metal stream in Hamilton. He said “What they have done is in turn now turned around and said that they want benefits back from our pensioners, understanding too that these pensioners worked in that environment all of their lives, most of them are ill, in their old age and need those benefits so it’s really putting a gun to the head of the people that need it the most, the most vulnerable in our society. That’s who they are going after at this point. The mediation, we filed a motion for the 15,000 tonnes, US Steel filed a motion saying that they had to do it. It violates the first principle of CCAA: when you are going into protection, you are supposed to maintain the operation in order to fix it. What they’ve started to do is remove tonnage.”

According to Ferguson there’s very little impact for the people who are currently working at U.S. Steel in Hamilton. He says the impact will really be on pensioners if this isn’t resolved.

Source : chch.com

Bijlage:

voda 27 september 2015 16:51

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Posco needs to file fresh proposal for steel plant in Odisha

Business Standard reportd that South Korean steel major Posco would have to file a new proposal for setting up its proposed $12-billion steel venture in Odisha if it wants to pursue the project. A senior government official said "Due to changed circumstances for raw material linkage, Posco has to file a fresh proposal. Posco is yet to respond to us on this."

The company was sounded about it at a recent meeting among officials of the Central government, state government and Posco, convened at Delhi by the cabinet secretary, to break the impasse over the project, hanging fire for 10 years.

The need for filing anew, according to sources, arises out of denial of allotment of captive mines to the company on a preferential basis following amendment to the Mines and Minerals Development and Regulation (MMDR) Act. With Posco unwilling to take part in the auction process to get hold of a captive mine in line with the provisions of the new Act, there are two ways now to meet its raw material needs.

Source : Business Standard

voda 27 september 2015 16:52

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Tussles over Bluescope steel rescue plan leads to calls for Premier's intervention

BC reported that the combined steel unions have hit out at the NSW Government over its delay in handing down tax concessions needed to ensure the survival of the steel industry. Time is running out on Bluescope's ultimatum to find S200 million in savings or close the steelmaking operations at Port Kembla. The expected date for a final decision on the plant's future is late October.

Mr Wayne Phillips from the Australian Workers Union said the union was doing its part in agreeing to shed hundreds of jobs and trim costs, but that the State Government was yet to announce expected payroll tax cuts. He said “The temporary tax breaks that Bluescope are asking for are critical to go towards this $200 million. If we don't get that we don't have a steelworks."

But the State Government's spokesman for the lllawarra, Gareth Ward, said no concessions would be forthcoming until after the company announces it plans to continue making steel at Port Kembla. H said “Only once the Government can be assured of its viability will we provide the additional support that's required as part of a global package. There is no point in us saying we will provide that support now when the company could be closed in six months."

But this appears to run counter to earlier comments made by Bluescope chief executive Paul O'Malley. He told reporter Sarina Locke last month job cuts would only achieve $50 million a year in savings. He said “We can't get the savings we need without productivity improvement, changes to work practices, different ways of doing things and ultimately job losses. In addition to workers here we are engaging with the NSW State Government about reducing payroll tax. In the last four years we lost $580 million in Australia and we paid $125 million in payroll tax. So the payroll tax reductions are a significant component of the cost opportunity."

The NSW Opposition's lllawarra spokesman, Ryan Park, has called for Premier Mike Baird to step in and take control of the State Government's response. He said “This is an opportunity for the Premier to say very clearly he values steel, he values the economic contribution it makes, not just the region but the state, and he wants it to stay in NSW and most importantly in the lllawarra.”

Source : ABC

Bijlage:

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