Eurobench.com

voda 26 oktober 2015 16:52

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Hamilton steel workers to appeal ruling on government deal with US Steel

The Hamilton Spectator reported that Hamilton steel workers will take their fight to unseal a secret deal between US Steel and the federal government into a new arena. Lawyers for unionized and salaried workers and retirees will ask the Ontario Court of Appeal for an expedited hearing on their effort to open the controversial deal under wraps.

They are appealing Superior Court Justice Herman Wilton-Siegel's earlier decision that he lacks the authority to order the release of the agreement, which ended a federal lawsuit against the steelmaker for breaking production and employment promises given in exchange for approval to buy Stelco.

In their motion, the worker groups argue Wilton-Siegel was wrong in deciding the law protecting US Steel Canada from its creditors does not give him the power to order the deal's release.

Knowing what's in that agreement, they argue, is critical to their ability to negotiate US Steel Canada's financial restructuring. They further argue that company executives have acknowledged this from the beginning of the current round of creditor protection.

In an affidavit supporting the company's plea for protection, Canadian president Mike McQuade said obligations imposed on the company by the agreement were one of the factors its American parent considered when evaluating the Canadian operation.

US Steel was given federal approval to buy Stelco in 2007 after giving 31 specific promises around employment, production, capital investment, pension funding and community support. Barely a year later, however, it broke those promises by shutting down operations in Hamilton and Nanticoke, laying off 1,500 workers. That decision was followed by a series of other production cuts and layoffs that, workers argue, has left the company an empty shell. Proof of that, they say, is shown by the American parent's recent actions to sever its operations entirely and to move production of its highest value steel grade to American plants.

The federal government sued in 2009 to enforce the original promises but in 2011 suddenly dropped the suit in exchange for a package of new promises that has never been made public.

Workers have tried since then to see the text of the deal, as recently as Oct. 14, but say their requests to the federal government and company were either rejected or ignored.

Source : The Hamilton Spectator

Bijlage:

voda 26 oktober 2015 16:55

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Thousands sign Scunthorpe steel petitions

BBC reported that thousands of people have signed petitions calling on the British government to step in to protect jobs at a steel plant in Scunthorpe. Unions say more needs to be done and earlier gathered in the town to collect more signatures.

Steel worker Tony Gosling said "We're asking people to sign our petition and continue to give us their warmth and love that they have given us so far in our plight. There's an online petition which has collected over 6,000 signatures, there's a national petition which has collected over 16,000 and on paper we estimate we've collected nearly 5,000."

Labour MP for Scunthorpe Nick Dakin said support for the steelworkers was vital. He said: "It's really important because it shows that people care about what's happening and that helps me put real pressure on the prime minister to act."

Tata Steel announced on last Tuesday it was shedding 900 jobs at its North Lincoln Road site. The company has pledged GBP 3 million to help create jobs in the town while another £6m will be provided by the government.

Source : BBC

Bijlage:

voda 26 oktober 2015 16:56

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China Steel Corporation results for September 2015

The preliminary consolidated operating revenues in September 2015 totaled NTD$21,125 million, with a decrease of 7% MoM. The consolidated operating income reached NTD$164 million, with a decrease of 73% MoM. The preliminary consolidated income before income tax totaled NTD$725 million, with increase of 110% MoM.

Source : Strategic Research Institute

voda 26 oktober 2015 17:00

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SMS bags major order to supply flat steel plant to Shandong Iron and Steel Rizhao

Shandong Iron and Steel Rizhao, China, has contracted the SMS group to supply a complete flat steel complex including a newly developed quality assurance system and operation know-how in the Shandong province on the Chinese east coast.

A special feature of this project will be the supply of cross-process know-how while simultaneously monitoring, documenting and securing the product characteristics.

The flat steel complex will comprise a hot strip mill, a pickling tandem mill, a hot-dip galvanizing line and two annealing lines. The SMS group will supply the electrical and automation systems for the entire equipment. Thanks to this investment in high-quality equipment technology combined with extensive know-how and innovative quality assurance, Shandong will have one of the most up-to-date plants worldwide.

In addition to the production of tube grades and cold strip for the construction and household appliances industries, the focus will lie on sophisticated steel grades for the automotive industry.

The equipment is scheduled to commence operation in 2017.

With the new equipment, Shandong Iron and Steel Rizhao will be able to produce almost five million tons of hot strip and two million tons of surface-finished cold strip per year.

A central part of this project will be the implementation of a PQA system (Product Quality Analyzer) which has the task to monitor, document and secure the process and the products right up to the surface-finished cold strip. For this purpose, all relevant production data will be recorded and analyzed in a continuous manner. Based on pre-defined rules, the system will issue instructions for action, so that possible irregularities in the production process can be responded to in due time so as to ensure high yield at optimal quality. Furthermore, the manufactured products will be assessed with regard to their suitability for various applications. The main benefits for Shandong are the immediate identification and elimination of quality issues, high process stability combined with increased yield and a higher acceptance on the part of the end customer thanks to complete documentation of the entire production process.

The scope of supply will also comprise a comprehensive know-how package which makes it possible to produce different material grades at high quality in a short period of time. For all hot and cold strip grades, material, process and operating parameters will be pre-defined for the entire production route in order to obtain the required mechanical properties. Furthermore, the production will be supervised and the process optimized continuously.

The hot wide strip mill is designed for an annual capacity of 4.8 million tons and produces strips in widths of up to 1,900 millimeters. The slab sizing press allows width reductions of up to 350 millimeters and therefore ensures great flexibility as regards casting and strip widths. With two high-performance roughing stands, hydraulic adjustment systems on all millstands, the CVC® plus (Continuous Variable Crown) system and PCFC® automation (Profile Contur and Flatness Control), the plant is optimally equipped for the flexible production of hot strip in narrow geometrical tolerances.

A major part of the hot strip produced will be processed in the pickling tandem mill with an annual capacity of two million tons to obtain high-quality cold strip. Highlights of the plant are the environmentally friendly design of the pickling plant including an efficient turbulence tank pickling system and the five-stand tandem mill with the new combined CVC® plus/ESS technology (Enhanced Shifting System) for flexible optimization of the roll gap.

Two annealing lines and a hot-dip galvanizing line provide a finish to the cold strip to obtain a high-quality product. All lines feature high-performance Drever radiant tube furnaces equipped with ultra-fast cooling systems to ensure high cooling rates. These furnaces allow the production of high-strength grades for the automotive industry. The hot-dip galvanizing line comprises FOEN wipe-off nozzles which ensure that the extremely high demands placed on surface quality by the automotive industry can be achieved. The two annealing lines have an annual production capacity of 950,000 and 650,000 tons, while the hot-dip galvanizing line has a production capacity of 400,000 tons.

The total of two million tons of surface-finished cold strip comes in widths between 900 and 1,850 millimeters and final gauges of 0.3 to 2.5 millimeters. Production comprises the material grades CQ, DQ, DDQ, EDDQ, SEDDQ, BH, HSLA, HSS, DP, TRIP, achieving tensile strength values of up to 1,000 MPa.

The scope of supply for the electrical and automation systems comprises a plug & work test before commissioning to ensure the functionality of all systems and provide for intensive training and familiarization of the customer staff on the equipment.

With the new equipment supplied by SMS, Shandong will produce a total of two million tons of surface-finished cold strip per year.

Source : Strategic Research Institute

voda 26 oktober 2015 17:00

0

Mexico imposes 15% import duty on steel items for 6 months

lexology.com reported that on October 7, 2015, the Mexico’s Ministry of Economy published in the Federal Official Gazette a Decree by means of which the Tariff Schedule of the General Import and Export Duties Law and the Decree which establishes diverse Sectoral Promotion Programs are amended.

By means of the publication of the Decree, the Mexican government temporarily increases the rate of duty applicable to 97 tariff items of Chapter 72 (iron and steel), that cover slab, plate sheet, rolled plate, cold rolled steel, hot-rolled steel and wire rod. The duty rate for such tariff items is increased to 15% for a 6-month (180 calendar days) period, and will become effective on October 8, 2015.

Additionally, as a result of the publication of the Decree, and in order to maintain the competitiveness of the electronic, electric, automotive and auto parts industries, diverse tariff items were included in the corresponding Sectoral Promotion Programs ("PROSEC").

Source : lexology.com

voda 26 oktober 2015 17:02

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Scottish billionaire Mr Jim McColl rules out saving the steelworks from closure

Daily Record reported that Scottish billionaire Mr Jim McColl has ruled out taking over the country's last remaining steelworks. The businessman stepped in to keep commercial shipbuilding alive in Scotland when he saved Ferguson shipyard in Port Glasgow last year .

In an interview with the Scottish Daily Express, the 63-year-old said he does not think the steel industry can be saved by a smaller entrepreneurial approach. He told the newspaper "The short answer is no. We've got quite a lot on our plate just now. We've invested in the shipbuilding business and there's a lot of activity going on there just now. I haven't been approached by the Scottish Government at all. I think Tata Steel is a very competent organisation, If they can't make it work, there's a structural problem here - I don't think it is the kind of business that a smaller entrepreneurial approach is going to fix. This is a large-scale industry and it needs a lot of investment. One of the problems is that we don't have a level playing field with other countries."

Mr McColl told the Express: "I do get frustrated when I hear about businesses like Tata disappearing because there's a lot of people in there who have steel-making in their blood. They've got a lot of skills - it's just a shame to lose these skills. It's heartbreaking for the people who are going to be out of a job - what do they do?"

Tata Steel announced last week that its Scottish sites - Dalzell in Motherwell and Clydebridge in Cambuslang - are to be mothballed with the loss of 270 jobs.

The Scottish Government has promised to do everything in its power to secure the future of the industry in a similar pledge to that made when the future of shipbuilding was endangered. On that occasion, Mr McColl stepped in and has set out plans to expand the business with a number of large contracts already secured.

Source : Daily Record

voda 26 oktober 2015 17:02

0

Steel price crash neutralizes weaker Ruble advantage for Russian steel mills

Bloomberg reported that the lowest steel prices in more than a decade mean Russian producers can no longer rely on a weaker ruble for protection. The country’s largest mills earlier in 2015 were the most profitable in about seven years because they pay wages and other production costs in rubles while earning dollars or euros for exported steel. A slide of about 40 percent in steel prices this year means Russian companies are “barely” breaking even with exports

The Russian currency’s collapse following international sanctions over the Ukrainian conflict and a plunge in oil prices benefited steel producers including Severstal PJSC and Novolipetsk Steel OJSC. Now, they’re feeling the pinch from an accelerating drop in steel prices as China, which accounts for about half of global output, floods the market with cheap exports amid a slowdown in its economy.

Acording to Mr Kirill Chuyko, chief of equity research BCS Financial Group The magic effect of ruble devaluation on the steel companies’ earnings, which we saw at the start of the year has vanished. Domestic prices need to fall to prevent an influx of cheaper imports.”

Russian customers often prefer to buy from local companies because of additional service opportunities and also due to risks associated with import deliveries

The ruble has dropped 50 percent against the dollar in the past two years and about 40 percent versus the euro in the period. That helped Russian mills earlier this year to undercut rivals while maintaining profitability.

The plunge in steel prices means Russian producers’ profit margins domestically are moving in line with companies from other countries, including in India, Brazil and the US

Source : Bloomberg

voda 26 oktober 2015 17:04

0

BlueScope to acquire Cargill’s 50% stake in North Star Bluscope in US

BlueScope announced that it has agreed to acquire Cargill’s 50 per cent share of North Star BlueScope Steel LLC for USD 720 million. The transaction will take BlueScope’s ownership of North Star to 100 per cent. With 380 employees, North Star is a producer of 2.0 million tonnes per annum of hot rolled coil at its mini-mill located in Delta, Ohio.

The acquisition consideration, together with net debt to be assumed of US$40 million as at 30 September 2015, implies a multiple of 7.1 times FY2015 EBITDA and pro-forma FY2015 cash flow per share accretion of 26 per cent.

BlueScope exercised its right of last refusal under the North Star shareholders’ agreement, matching an offer received by Cargill from a third party.

Commenting on the transaction, BlueScope’s Managing Director and Chief Executive Officer, Mr Paul O’Malley, said: “This transaction will give us 100 per cent ownership of an asset that is highly regarded within the US steel sector; full ownership enhances BlueScope’s portfolio value and optionality and improves business flexibility. The North Star business delivers on our strategy of being cost competitive in steelmaking and is best in class.”

He said “Given North Star’s strong free cash flow generation and the current strength of BlueScope’s balance sheet, it is anticipated that the transaction will be funded through a combination of US capital markets issuance and longer term bank debt. A fully funded interim facility is in place to support the acquisition.”

Completion is not subject to any regulatory approvals and is targeted for October 2015.

Credit Suisse is acting as financial adviser and Vinson & Elkins are acting as legal advisers to BlueScope on the acquisition.

Source : Strategic Research Institute

voda 26 oktober 2015 17:04

0

BlueScope to keep Port Kembla steel plant open

BlueScope announced the decision to continue to make steel at Port Kembla subject to ratification of the new Enterprise Agreements. The Board’s announcement follows game changing cost out commitments by employees, unions and the NSW Government.

BlueScope Chairman Graham Kraehe AO said the Board has made the decision to continue steelmaking at Port Kembla subject to formal ratification of the new enterprise agreements. Mr Kraehe said the Board is confident that the cost-out commitments would deliver more than $200 million in operational savings in Australia by FY2017.

He said “We applaud the contribution by our employees, site management and the combined unions in helping to secure $60 million per annum in labour cost savings. This was an essential step in creating a more flexible and productive steelworks.”

He added “We also thank the NSW Government for deferring $60 million of payroll tax payments over the next three years, as well as reductions in other charges. The arrangement we have struck demonstrates the Government’s clear support for our employees, our business and the Illawarra and it has been a key component in the Board’s decision to keep the Steelworks open.”

BlueScope Managing Director and CEO Paul O’Malley said more than $100 million in raw materials, operational and services costs would be eliminated. He said “In New Zealand, at Glenbrook Steelworks, good progress is being made on the delivery of the targeted NZ$50M savings, but there is more work to do. The ongoing lesson is that to continue to make steel in Port Kembla and also at Glenbrook in New Zealand, we must remain cost competitive and continue to deliver value. To be truly sustainable, the cost- out benefits must be delivered and permanent. We recognise this has been an especially tough time in the Illawarra and in Glenbrook in New Zealand, and we are grateful for the support from all our employees, customers and communities.

Source : Strategic Research Institute

[verwijderd] 26 oktober 2015 17:14

0

quote:
voda schreef op 26 oktober 2015 17:00:
Mexico imposes 15% import duty on steel items for 6 months

lexology.com reported that on October 7, 2015, the Mexico’s Ministry of Economy published in the Federal Official Gazette a Decree by means of which the Tariff Schedule of the General Import and Export Duties Law and the Decree which establishes diverse Sectoral Promotion Programs are amended.

By means of the publication of the Decree, the Mexican government temporarily increases the rate of duty applicable to 97 tariff items of Chapter 72 (iron and steel), that cover slab, plate sheet, rolled plate, cold rolled steel, hot-rolled steel and wire rod. The duty rate for such tariff items is increased to 15% for a 6-month (180 calendar days) period, and will become effective on October 8, 2015.

Additionally, as a result of the publication of the Decree, and in order to maintain the competitiveness of the electronic, electric, automotive and auto parts industries, diverse tariff items were included in the corresponding Sectoral Promotion Programs ("PROSEC").

Source : lexology.com

Arcelor is ook actief hier in Mexico, goed nieuws voor Arcelor en de duizenden medewerkers dus.

Ozzy

ToTheTop 26 oktober 2015 18:15

0

Ik vraag me af op hoeveel stukken het spoor dubbel is en over welke lengte bij het traject van de mijn in Liberia naar de haven.Het gaat ongeveer over een stuk van 240 KM aan lengte.Als men op meerdere stukken een stuk dubbel spoor bouwt,kan men de producktie in de toekomst stevig verhogen... (Oud spoor is nu goedkoop op te kopen.) En aangezien deze mijn geen mijn pit is zou een bruinkool graver ( www.youtube.com/watch?v=DoV-OlRjGJ4 ) misschien veel beter geschikt zijn,dan normale graaf machines.Ook de haven verdiend een verbetering,die is nog al primitief te noemen... Dat hoeft geen 1.5 miljard te kosten.

ToTheTop 26 oktober 2015 18:53

0

Die bruinkool graver behoort overigens tot de aller grootste en is te groot in dit geval.Het spoor loopt ook niet door tot aan de haven.(Onnodig tijdverlies bij inscheping.. ) En lossen >>>> www.beneluxspoor.org/bnls/IMG_1247_2_... met verhoogd spoor boven het schip.

ToTheTop 26 oktober 2015 19:23

0

quote:
ToTheTop schreef op 26 oktober 2015 18:53:
Die bruinkool graver behoort overigens tot de aller grootste en is te groot in dit geval.Het spoor loopt ook niet door tot aan de haven.(Onnodig tijdverlies bij inscheping.. ) En lossen >>>> www.beneluxspoor.org/bnls/IMG_1247_2_... met verhoogd spoor boven het schip.

En met deze (soort) wagons.. www.google.de/imgres?imgurl=http%3A%2... en niet deze... >>>> www.google.de/imgres?imgurl=http://af...

ToTheTop 26 oktober 2015 19:42

0

Já há... Daar hebben ze flink over nagedacht.. www.google.de/imgres?imgurl=http%3A%2... Dan ben je wel ff bezig een treintje leeg te maken,met verhoogde diesel kosten..

ToTheTop 27 oktober 2015 13:10

0

quote:
ToTheTop schreef op 26 oktober 2015 19:42:
Já há... Daar hebben ze flink over nagedacht.. www.google.de/imgres?imgurl=http%3A%2... Dan ben je wel ff bezig een treintje leeg te maken,met verhoogde diesel kosten..

Ik kon het ff niet laten... Maar hier 70 open top hoppers voor maar 23.000 $ per stuk. www.sterlingrail.com/classifieds/clas... En een nieuwe lok van 3.000 HP zit op ongeveer 1 tot 1.5 mil.Maak op die spoor route 2 tot 4 stukken dubbel spoor en je producktie is al 4 x zo hoog op je rails.Hoppers zijn goedkoper en sneller te lossen... 1.7 miljard investeren in die mijn is gekkenwerk. ;-)

[verwijderd] 27 oktober 2015 13:45

0

quote:
ToTheTop schreef op 27 oktober 2015 13:10:
[...]Ik kon het ff niet laten... Maar hier 70 open top hoppers voor maar 23.000 $ per stuk. www.sterlingrail.com/classifieds/clas... En een nieuwe lok van 3.000 HP zit op ongeveer 1 tot 1.5 mil.Maak op die spoor route 2 tot 4 stukken dubbel spoor en je producktie is al 4 x zo hoog op je rails.Hoppers zijn goedkoper en sneller te lossen... 1.7 miljard investeren in die mijn is gekkenwerk. ;-)

Sorry, ik kan je berichten even niet goed volgen. Over welke mijnen heb je het nu precies?

Groet

voda 27 oktober 2015 19:27

0

Sberbank demands USD 500 million from Mechel subsidiary

RAPSI reported that Sberbank has filed two more lawsuits with the Moscow Commercial Court seeking to collect about USD 445 million and 3.3 billion rubles (over USD 53 million) from the coal company Yuzhny Kuzbass (South Kuzbass), a subsidiary of the mining and steel giant Mechel, according to court records. Therefore, Sberbank is suing Yuzhny Kuzbass for more than USD 720 million and about 3.3 billion rubles in total.

On December 2, the court will consider two latest bank’s claims seeking to collect USD 300 million (USD 273 million and 1.7 billion rubles) and USD 200 million (USD 172 million and 1.6 billion rubles).

Earlier, the court also accepted for hearing two another lawsuits filed by the bank to recover USD 224 million and USD 51 million from the company.

Sberbank is one of Mechel’s three largest creditors, alongside VTB Bank and Gazprombank. But unlike these two banks, Sberbank is not satisfied with Mechel’s debt restructuring proposals it received in mid-April.

As of September 1, 2015, Mechel’s debts were estimated at USD 6.313 billion. The company has been negotiating the restructuring of its debts since early 2014.

Source : RAPSI

voda 27 oktober 2015 19:27

0

Sandvik Materials Technology boosts presence in Rio de Janeiro

Sandvik, a developer and producer of advanced stainless steels, special alloys, titanium and other high-performance materials, has announced the opening of its South American hub in Rio de Janeiro

The new Sandvik Materials Technology facility expands Sandvik’s footprint in the region and consists of a Control Lines service center, sales hub, and warehouse. The expansion in South America is part of Sandvik’s strategy to strengthen its position in oil and gas, support the growing market for control lines and invest in delivering high-level services to its customers.

Sandvik has had a presence in Brazil since 1949 and the new facility in Rio de Janeiro will further support its relationships with oil majors such as Petrobras and well service companies. In the past year, Sandvik has doubled the size of its oil and gas team due to the tremendous growth in the region and the success of its control lines solutions. Sandvik has also recently signed a contract with Petrobras as their long-term supplier of control lines.

Source : oilonline.com

voda 27 oktober 2015 19:29

0

USD raw steel production in Week 43 dips 0.5% WoW - AISI

In the week ending October 24, 2015, domestic raw steel production was 1,667,000 net tons while the capability utilization rate was 69.7 percent. Production was 1,840,000 net tons in the week ending October 24, 2014 while the capability utilization then was 76.5 percent.

Source : Strategic Research Institute

voda 27 oktober 2015 19:30

0

Thousands more steel industry jobs at risk in US – ISTA

International Steel Trade Association has claimed that thousands more steel industry jobs could be lost if the government fails to address the threats facing Britain’s vulnerable steel supply chain

ISTA chairman Mr Jeffrey Kabel said “A further threat to jobs will come if suppliers can no longer purchase steel competitively from their chosen market supplier. This would create an artificial market, creating further distortions in a commodities sector already hit by wild swings in global prices for steel products. The government needs to address the issue of plant closures, Chinese imports, energy costs, business rates and product quality as part of wider, coordinated strategy, which includes all players in the industry.”

Mr Kabal said: “There is now a real knock-on risk to various sectors including major infrastructure projects – hi-tech specialist manufacturers such as aviation and defence, as well as the automotive sector and traditional markets such as construction, as a result of the devastating news at Redcar, Scunthorpe and elsewhere. There is an escalating threat which is moving rapidly along the supply chain. We are not talking here solely about giant manufacturing facilities in close-knit communities, or the steel belt in Scotland and the Midlands, but small and medium-sized firms scattered across industrial estates, town-centre office buildings and ports nationwide.”

He said “These are the steel products providers – traders, shippers and distributors who feed their customers with high quality steel and bespoke products, which are the lifeblood of so many manufacturing and infrastructure projects.”

He said that big construction firms have already begun to shun products sourced from China and other markets. Mr Kabal said “This is a serious issue as it hits confidence in the supply chain: once you go down the road of questioning the integrity of materials, distortions start to kick in. We are seeing this already with firms chasing dwindling supplies, which in turn hits costs. We are concerned that an artificial market is starting to take shape: the next step is protectionist shutters will go up and we will see the beginning of the end of a free market in steel products.”

Mr Kabel concluded: “ISTA believes now is the time for the industry and government to work effectively together in order to create a robust, long-term future for what is still a dynamic and vitally important British industry. But this demands a coordinated approach, involving all stakeholders in the steel supply chain.”

Source : buildingproducts.co.uk

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