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voda 12 oktober 2015 16:50

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Colombia applies provisional duties on wire rod imports from China

The Colombian ministry of commerce, industry and tourism, MINCIT, has applied provisional AD measures on imports of wire rod from China. According to MINCIT, the levies are now effective and will last for a period of four months and correspond to the difference between base FOB $541.06/mt price and the FOB price declared for the imported product, always and whenever the last is cheaper than the base price.

MINCIT said the provisional duties aren’t applicable for the imports already shipped to Colombia before the resolution took place on September 29, 2015

MINCIT said it found evidences of dumping practices in the imports of the product coming from China. The products subject to the levies include both alloy and non-alloy wire rods with a diameter inferior to 14 mm, as well as those with a carbon content, which corresponds to less than 0.45 percent of its weight.

The products subject to the provisional antidumping duties currently fall under Customs Tariff Statistics Position Numbers 7213.91.90.10, 7213.91.10.10, 7227.90.00.11 and 7227.90.00.90.

At the same time it applied provisional AD duties on the imported steel, MINCIT also said it will continue investigating the imports of these products from China.

Source : SteelOrbis

voda 12 oktober 2015 16:51

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Steel slump may force BlueScope plant closure - Deutsche Bank

The Age reported that accoding to Deutsche Bank analyst Ms Emily Smith, major pay cuts and 500 job losses at BlueScope's Port Kembla steel works will only delay the troubled plant's closure

Ms Smith said on Friday that the collapse in steel prices meant the plant was unlikely to survive long term regardless of the cost savings. Ms Smith said in a research note that “With steel spreads at record lows, we believe it is only a matter of time before Port Kembla is closed.”

Ms Smith said East Asia hot-rolled coil spreads fell 26 per cent quarter-on-quarter and 51.7 per cent year-on-year to $US144 a tonne for the week ending September 28. She said “This is 50 per cent below the historical average of $US289 a tonne.”

Steel spreads (the difference between the cost of steel-making materials iron ore and coal, and the price of steel) have been hammered due to sustained surplus steel production in the face of slowing Chinese demand.

On last Thursday, BlueScope's unions made unprecedented concessions on jobs and benefits, including a three-year wage freeze, in a bid to keep raw steel rolling out of the nation's biggest steel works.

BlueScope's Port Kembla plant has annual capacity to make 2.6 million tonnes of raw steel

Source : The Age

voda 12 oktober 2015 16:53

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Unite demand urgent probe in SSI missed pension payments claims

Press & Journal reported that a union last week called for an urgent investigation into whether Thai firm SSI has been paying in to the pensions of workers at a steel plant before it went in to liquidation. There are rumours that the company has not been paying in to workers’ pension funds.

Unite national officer Mr Harish Patel said “Unite will use all available avenues to ensure their members are not short changed in what looks like a breach of trust and confidence bordering on a criminal act. We need an urgent investigation and call on the Government to stop standing on the sidelines.”

He added “One would have thought that ministers and officials would have run the rule over the books when making their decision not to intervene to save the plant. The business secretary now needs to step in and ensure workers aren’t left high dry and robbed of their futures.”

An Insolvency Service spokesman said: “The Redundancy Payment Service, a function of the Insolvency Service, can pay both employee pension contributions and employer contributions, within specified legal limits. Claims are lodged by pension trustees, employees do not need to apply themselves. The cost of these payments is met from the National Insurance Fund and becomes a debt in the insolvency.”

Source : Press & Journal

voda 12 oktober 2015 16:55

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Outlook for steel orders and prices in October in China bearish

Shanghai Daily last week reported that expectations among Chinese steel market participants for new steel orders and prices in October have plunged and rising steel inventories could further crimp hopes for a price recovery

The latest Platts China Steel Sentiment Index, based on a survey of 50 to 75 China-based market participants including traders, stockists and steel mill operators, showed a headline reading of 35.47 out of a possible 100 points in October.

The index reflects hopes of market participants. A reading above 50 signals a rise and one below 50 indicates a drop.

The October index fell 20.17 points from September’s 55.64 points.

The outlook for new domestic steel orders slumped by 20.89 points to 36.07, while export order hopes fell 6.3 points to 28.27.

Price expectations for flat steel products, such as hot-rolled coil, are pessimistic, plunging 34.29 points from last month to 10.71 in October, the index showed.

Source : Shanghai Daily

voda 12 oktober 2015 16:57

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Iron ore miners in Goa seek zero export duty and permission to dump waste outside lease area

The Hindu Business Line reported that Goa’s iron ore miners have sought withdrawal of export duty on ore with less than 58 per cent iron content as well as an amendment to the Mines and Minerals (Development and Regulation) Act to allow dumping of mineral rejects outside the lease area.

Mr Ambar Timblo, Managing Director of Fomento Resource, and a member of the Goa Mineral Ore Exporters Association said “The expected quality of ore from these mines will be 56-57 per cent iron content. If the global price remains where it is at around $37-40 a tonne, we will be able to export it. But that is if the export duty is completely removed.”

He, however, added that he was not sure that production will reach the cap of 20 million tonne even after export duty is removed.

Meanwhile, on the issue of dumping mineral waste outside the leasehold area, Mr Timblo said, “Internationally, the mining lease area is massive. Here in Goa, the largest lease is around 99 hectares. If we dump the mineral rejects within the lease area we won’t be able to work in the mineral bearing area. The only permanent solution is an amendment in the Act as the Supreme Court has also pointed it out.”

Mining activity has begun in around 15 of the 56 mines where leases were renewed after a two-and-half-year ban on mining in the State.

Source : The Hindu Business Line

voda 12 oktober 2015 17:05

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Canada environmental officers raid Vale offices in Ontario

Reuters reported that Environment Canada raided one of mining giant Vale SA's Sudbury, Ontario offices on Thursday, investigating allegations that the company violated the Fisheries Act in 2012.

Environment Canada confirmed that its enforcement officers executed a search warrant with support from the Royal Canadian Mounted Police, part of an active investigation that started in November 2012. Spokeswoman Ms Natalie Huneault in an emailed statement said "The investigation relates to alleged violations of the general prohibition in the Fisheries Act, which prohibits the deposit of substances that are deleterious to fish into water frequented by fish.”

Vale spokesman Mr Cory McPhee said the company is cooperating with the investigation. He said "I can confirm that Environment Canada was on-site at one of our Sudbury offices on Thursday collecting information related to alleged violations of the Fisheries Act that allegedly occurred in 2012.”

However, another Vale spokeswoman Ms Emily Robb said there was no impact on Vale's operations. She said "The matter under investigation never posed a threat to health and safety in our community, Vale addressed the issue in 2012 and that it had communicated with regulators. We believed then, and believe now, that our actions were appropriate and responsible.”

The Brazilian-based company's Canadian operations have suffered a number of safety incidents in recent years.

Source : Reuters

voda 12 oktober 2015 18:23

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'Vraag naar staal neemt vanaf 2016 weer toe'

Gepubliceerd op 12 okt 2015 om 18:09 | Views: 234

BRUSSEL (AFN) - De wereldwijde vraag naar staal zal, na een dip dit jaar, vanaf volgend jaar weer geleidelijk toenemen. Dat maakte de World Steel Association (WSA) maandag bekend. Voor 2015 rekent de organisatie op een afname 1,7 procent terwijl het voor 2016 mikt op een groei van 0,7 procent.

Volgens de WSA zorgt onder meer de zwakkere economische groei in China voor een lagere vraag. Daardoor staan ook de markten onder druk en is de bereidheid om te investeren minder geworden.

Bij de WSA zijn zo'n 170 staalproducenten aangesloten, waaronder 9 van de 10 grootste staalconcerns ter wereld. Zij zijn gezamenlijk verantwoordelijk voor zo'n 85 procent van de wereldwijde productie.

voda 13 oktober 2015 19:29

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US steel production in Week 41 dips 7.3% YoY - AISI

American Iron & Steel Institute announced that in the week ending October 10, 2015, domestic raw steel production was 1,705,000 net tons while the capability utilization rate was 71.3 percent. Production was 1,840,000 net tons in the week ending October 10, 2014 while the capability utilization then was 76.5 percent. T

Source : Strategic Research Institute

voda 13 oktober 2015 19:29

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Worldsteel launches Sustainable Steel Policy and Indicators Report

The World Steel Association has launched the Sustainable Steel Policy and Indicators 2015 Report, highlighting how steel and the steel industry contribute to and perform in the areas of economic, environmental and social sustainability.

Source : Strategic Research Institute

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voda 13 oktober 2015 19:30

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US steel shipments in August dip by 1.6% MoM

The American Iron and Steel Institute reported that for the month of August 2015, U.S. steel mills shipped 7,470,120 net tons, a 1.6 percent decrease from the 7,591,897 net tons shipped in the previous month, July 2015, and a 11.9 percent decrease from the 8,480,954 net tons shipped in August 2014.

Source : Strategic Research Institute

voda 13 oktober 2015 19:32

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JSW Steel crude steel production in Q2 dips YoY marginally

JSW Steel announced that its crude steel production was lower at 3.25 million tonnes for the second quarter for the FY 2015-16 as against 3.30 million tonne in Q2 last year. It said “One of the blast furnaces at Vijayanagar works was taken under shut down for relining and is expected to be re-commissioned in early December 2015.”
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Source : Strategic Research Institute

voda 13 oktober 2015 19:33

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Steel as a model for a sustainable metal industry in 2050 - BCG

The Boston Consulting Group, working with the World Economic Forum and building on its own steel model, analyzed the changes confronting the industry, with an outlook through 2050. We compared two scenarios, “keeping a green line” and “true change.” The first scenario assumes that the current steel market will in many parts remain constant, and the second assumes a more sustainable world in which significantly more recycling occurs and use of resources is more circular.

Source : Strategic Research Institute

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voda 13 oktober 2015 19:35

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Steel comments on coke oven and blast furnace closure at the Redcar

Commenting on the announcement by the official receiver that the furnace and ovens at SSI in Redcar are to be closed, Mr Gareth Stace, Director of UK Steel, said: "This decision makes the possibility of rescue more remote.”

He said "But, it reinforces the importance of this week's summit as it becomes ever more critical to bring forward solutions to ensure the whole steel sector in the UK can be put on a sustainable footing."

SSI was wound up by the High Court in Manchester on 2 October 2015 at the company's request.

Source : Sun-fm.com

voda 13 oktober 2015 19:35

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Japanese domestic steel demand in Q4 to rise QoQ - METI

SteelOrbis reported that according to the Japanese Ministry of Trade, Japanese demand for crude steel in the fourth quarter of this year is expected to total 26.53 million mt, up 0.7 percent from the previous quarter, while representing a decrease of 3.7 percent compared to the fourth quarter of 2014.

Total demand for Japanese steel, including exports, is expected to reach 24.07 million mt in the fourth quarter this year, up 0.5 percent from the estimated data for the previous quarter, and down 2.1 percent compared to the same quarter of 2014. Of the estimated fourth quarter demand, exports are expected to account for 7.98 million mt, falling 3.2 percent from the third quarter and down 3.3 percent on year-on-year basis.

Meanwhile, of the total demand in the September-December period, 19.38 million mt is expected to be for ordinary steel, decreasing by 0.3 percent year on year and up 0.4 percent compared to the previous quarter, while 4.69 million mt of demand is expected to be for special steel, down 8.6 percent year on year and increasing by one percent from the estimated data for the third quarter this year.

Source : SteelOrbis

voda 13 oktober 2015 19:36

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UK lawmakers wage war of words over SSI Redcar Teeside coke oven closure

The Northern Echo reported that Middlesbrough MP Mr Andy McDonald condemned the Business Secretary in a withering attack on the Government, saying it carried out breathtaking industrial vandalism upon Redcar’s stricken works. He said the Government and Mr Javid “fell asleep at the wheel”, accusing the pair of shying away from meaningful action by hiding behind state aid rules.

Mr McDonald said that isn’t the case, adding Mr Javid did nothing to intervene in the liquidation process. He said: “This is an absolute kick in the teeth for the region and Sajid Javid is going to be remembered as the man who let steelmaking die on Teesside. It is an act of breathtaking industrial vandalism.”

He said “The signs have been there for months, principally the dumping of steel by China, which put enormous pressure on the UK steel industry. But the Government was asleep at the wheel. It says it can’t intervene in the liquidation process, but that’s nonsense. It could have directed the liquidator to ensure the coke ovens and power plant continued and it could have ensured the blast furnace was properly mothballed to allow its future igniting. Mr Javid has that power but sat on his hands.”

Fellow Labour MP Tom Blenkinsop, who represents Middlesbrough south and east Cleveland and is chairman of the All Party Parliamentary Group on Steel, added: “The Government has abandoned Teesside.”

He was backed by Redcar MP Anna Turley, who has called for an enquiry into the Government’s actions.

However, Business Minister Anna Soubry, who visited Redcar for talks in a bid to preserve the former SSI UK works and safeguard jobs and redundancy payments, rejected the allegations, saying the Government’s support is unremitting.

Source : The Northern Echo

voda 13 oktober 2015 19:37

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What happens next at SSI Redcar Teeside steel plant

Gazzette Live reported that What does the closure of Redcar coke ovens mean for the workers? What will happen to the site? What does it mean for the site and hopes of keeping steelmaking on Teesside?

What has been announced?
Redcar’s coke ovens will no longer be maintained and will be allowed to cool - effectively ending hopes that the blast furnace at Redcar could be restarted to continue steel production. Since Redcar steelworks operator SSI UK went into liquidation, the Official Receiver allowed batches of coal to be bought to keep the coke ovens operating.

What does it mean for the workers?
As production at the coke ovens is wound down, fewer workers will be needed on site. The Official Receiver had allowed 650 people to be retained to keep the coke ovens working, even though 890 were initially kept on. Up until the end of last week, the receiver said it had been in talks with parties interested in keeping the ovens burning. But after this’s announcement, the workforce will now be cut dramatically as the ovens cool. Many workers are still unsure when they should show up for their shifts.

Why were the coke ovens important?
The ovens need to burn constantly, and be fed with coal to produce coke. The coke produced at Redcar was used primarily to feed the blast furnace at SSI - but since the company’s liquidation, it has been stockpiled and is now likely to be sold by the receiver. The ovens are free standing brick structures supported by the coke which is constantly produced and emptied - once the ovens stop being maintained, they quickly cool and will begin to collapse in on themselves.

What does it mean for the site and hopes of keeping steelmaking on Teesside?
While the coke ovens were still burning, there was always the possibility that a new buyer for the plant could quickly restart production at the blast furnace. Campaigners have also claimed that the coke ovens could have been kept on as a profitable business in its own right. But once they cool, they will be damaged beyond repair and cost tens of millions of pounds to rebuild - which makes Redcar even less attractive for a potential buyer. The fact that there are other ancilliary works on site, as well as the wharf, offers a ray of hope that steelmaking could some day return to the area - but it now looks extremely unlikely.

What will happen to the site?
At the moment, that is unclear. Ancilliary works and the wharf could still be kept in operation, but once coke production ceases the number of people working at the plant on a day-to-day basis will drastically reduce. The Official Receiver says he will continue with the liquidation of SSI UK, and talk with interested parties about purchasing the company’s other assets.

Who is responsible for the environmental clean-up, how much will it cost and who will pay?
The Official Receiver is currently in control of the site. Workers, unions and local politicians have always said that the clean-up of the site could run to hundreds of millions of pounds - possibly more than one billion.This is due to the likelihood that at least parts of the site have been been contaminated, and would need to be considered whatever the future use of the site might be - even if more heavy industry was to move in. As SSI UK is being liquidated, it is likely fall to the Government to announce how the site will be cleaned up and who will pay for it.

Source : Gazzette Live

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voda 13 oktober 2015 19:37

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South Korean steel imports in September dip 10 pct YoY

Yonhap reported that South Korea's imports of steel products dropped nearly 10 percent in September from a year earlier on weak demand from construction and other segments

According to the data by the Korea Iron & Steel Association, South Korea imported 1.77 million tons of steel last month, down 9.9 percent from a year earlier, ending an on-year rise for second consecutive month.

Steel imports continued to expand for the second straight month on-year following a 2.3 percent rise in July. Compared with August, their imports also declined 10.7 percent, the data showed.

Imports from China accounted for 64 percent of the total with 1.13 million tons coming from the country. Japanese goods took up 30.7 percent with 545,000 tons imported.

Imports of hot-rolled steel sheets 8.6 percent on-year last month to 507,000 tons, while H-steel imports surged 14 percent over the same period to 53,000 tonnes

Source : Yonap

voda 13 oktober 2015 19:38

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Worldsteel Short Range Outlook sees 1.7% YoY dip in global steel demand in 2015

The World Steel Association has released its Short Range Outlook for 2015 and 2016. worldsteel forecasts that global steel demand will decrease by -1.7% to 1,513 million tonnes in 2015 following growth of 0.7% in 2014. In 2016, it is forecast that world steel demand will show growth of 0.7% and will reach 1,523 million tonnes.

Commenting on the outlook, Hans Jürgen Kerkhoff, Chairman of the worldsteel Economics Committee said; “It is clear that the steel industry has, for the time being, reached the end of a major growth cycle which was based on the rapid economic development of China. Combined with China’s slowdown we also face low investment, financial market turbulence and geopolitical conflicts in many developing regions. The steel industry is now experiencing low-growth which will last for the time it takes for other developing regions of sufficient size and strength to produce another major growth cycle. We expect the current headwinds to moderate in 2016 but this is based on a belief that the Chinese economy will stabilise. Of particular concern is the vulnerability of the emerging economies to external shocks though we are also expecting some, like India, to show resilience to the global slowdown. On a positive note, the recovery of steel demand in the developed economies, even though the momentum has weakened a little, remains on track.”

China continues negative growth
The Chinese economy has decelerated as the impact of the rebalancing measures on the investment and real estate sector turned out to be more severe than expected. As a result, activities in the construction and manufacturing sectors have slowed considerably. China’s steel demand is expected to decrease by -3.5% in 2015 and -2.0% in 2016, following its demand peak in 2013. There is an increasing risk associated with this economic slowdown and the consequent financial market volatility, which has become a global concern.

Performance divergence in the emerging and developing economies
The performance of some key emerging and developing economies started to deteriorate in 2012 due to internal structural issues, lower commodity prices associated with China’s economic slowdown, and in some cases, escalating political instability. For example Russia and Brazil are experiencing severe contraction in steel demand. Geopolitical tensions and political instability in the Middle East, Africa and Ukraine continue to have a negative effect. On the other hand, steel demand in India and Mexico and other countries in the ASEAN and MENA regions is expected to maintain growth momentum despite the adverse external environment due to positive domestic demand and progress in reform.

Steel demand in the emerging and developing economies excluding China will, despite the major slowdown in some countries, grow by 1.7% in 2015 and 3.8% in 2016.

The developed economies see a setback in 2015, but return to growth is expected in 2016
The strong momentum seen in the developed economies in 2014 weakened considerably in 2015. While the US economic fundamentals continue to remain solid, steel demand in the US is expected to show negative growth in 2015, due to currency appreciation and a slowing energy sector. In the EU there is a broadening of the recovery momentum aided by low oil prices, low interest rates, and a weak euro. Developed Asian countries like Japan and Korea are expected to show negative growth due to adverse structural forces weighing on their economies.

In 2015, steel demand in developed economies is expected to contract by -2.1%, but positive growth of 1.8% is expected in 2016.

Steel demand in the world excluding China will grow by -0.2 % in 2015 and 2.9% in 2016

Source : Strategic Research Institute

voda 14 oktober 2015 16:45

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S&P downgrades Essar Steel Algoma

Soo Today reported that Standard & Poor's Ratings Services has lowered Essar Steel Algoma's long term corporate credit rating from 'CCC+ to'CCC-' The credit agency, in a press release dated October 8, bases its downgrade on continuing weak North American hot rolled steel and plate prices.

Standard & Poor's states Essar Steel Algoma will face a cash crisis in the next six months unless steel prices improve in the near term.

The agency writes the steelmaker is also battling "generally soft demand, excess global steel capacity and high imports into North America…and we expect prices to remain weak at least into 2016."

Standard & Poor's writes Essar Steel Algoma may have to sell assets or get financial support from its parent company to meet its cash flow problems.

The agency states it will raise its credit rating on Essar Steel Algoma if steel prices go sharply higher and stay high over the next several months, or if the company sells assets or receives financial help from its parent company in India.

Source : Soo Today

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voda 14 oktober 2015 16:47

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Klockner poised for more acquisitions - CEO

handelsblatt.com reported that Klockner & Co, Europe’s largest steel distributor, is looking to the US to buy businesses. CEO Mr Gisbert Rühl, the CEO of Klöckner & Co told that his company is looking for more foreign acquisitions, perhaps in the United States, and is expediting the digital transformation of its business.

Mr Gisbert Rühl, the chief executive of Klöckner & Co., said the company is looking for steel processing firms abroad, perhaps in the United States, as it fights falling world commodity prices, oversupply and rising competition from Chinese rivals.

Mr. Rühl said his favorite English word of the moment is “disruption,” which describes the paradigm change he is introducing at Klöckner, an old-world business that is trying to transform itself, based in Duisburg in northwest Germany.

He said “We want to disrupt, at least to a certain extent, our business model where it doesn’t work anymore.”

Source : handelsblatt.com

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