Eurobench.com

voda 27 januari 2016 16:54

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German steel associations warn on further pain to steel industry in EU

The Telegraph reported that fresh evidence of how the steel crisis in EU is intensifying has come from Spain, with ArcelorMittal mothballing a plant in Sestao. There was further evidence of the pressure Chinese steel is putting on European industry, with Germany’s steel trade association WV Stahl and union IG Metall releasing a study warning that “political over-regulation and cheap imports” will steal plants away from the region.

The research claimed green levies placed huge extra costs on German steelmakers, preventing companies from investing in new equipment that would allow them to compete with rivals around the world.

Mr Hans Jürgen Kerkhoff, president of WV Stahl, put a EUR 10 billion price tag on the expected European Emissions Trading System, under which companies will have to pay a tariff relating to how much pollution they produce. He said “Companies and jobs, which are exposed to international competition, should not be put at risk by disproportionate costs.”

Steel companies across Europe are lobbying the European Commission to copy the US by introducing import tariffs on imported steel to stem the flow of imports, arguing that unless action comes soon, they will be unable to survive.

Source : The Telegraph

voda 27 januari 2016 16:54

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Steel prices unlike to recover - JISF

Nikkei reported that prices for a key steel product have risen in Asia since late last year, buoyed by expectations that production cuts are beginning to show results. But a full market rebound remains elusive. Hot rolled coil is trading for around USD 280 a ton, advancing just over 7% from mid-December to a roughly four-month high. Prices have not fallen for more than a month for the first time since 2014.

But the price growth lacks strength. With languishing Chinese domestic demand for steel, especially for construction, rising prices may lead to ballooning supplies. As the ruble weakens, Russian steel may be sold for cheap on the international market.

Mr Koji Kakigi, chairman of the Japan Iron and Steel Federation, said “In light of those concerns, we do not see the slumping market heading for a V-shaped recovery.”

Steel prices cratered approximately 40% in 2015. Chinese companies maintained elevated production levels as domestic demand stalled amid an economic slowdown. Those companies then tried to liquidate inventories by cutting prices and increasing exports, upending the Asian supply-demand balance.

Source : Nikkei

voda 27 januari 2016 16:55

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Millions of jobs at risk as China plans 100-150 million tonne steel cut

According to the state run metals industry consultancy China Metallurgical Industry Planning and Research Institute, China's plan to slash crude steel production capacity could eliminate 400,000 jobs and may fuel social instability after the announcement that steel production capacity will be cut by 100 million tonnes to 150 million tonnes. Mr Li Xinchuang head of institute said that it will translate into as many as 400,000 lost jobs

According to Xinhua, Mr Li said even more workers will be affected across related industries, and could potentially become a destabilising force.

According to some estimates in China every worker in the steel industry helps support between 2 to 3 additional jobs, which means, 400,000 primary layoffs would mean a total job loss number anywhere between 1.2 and 1.6 million jobs!

Mr Li confirmed this very disturbing trend when he told Xinhua that large scale redundancies in the steel sector could threaten social stability.

China's leaders have vowed to reduce excess industrial capacity and labour in state enterprises even as they battle the slowest growth in a quarter of a century. They are grappling with a delicate balancing act as they strive to restructure the economy away from investment-led growth without tipping it into a deeper slump.

According to Xinhua, "China will raise funds to help workers reestablish themselves should they lose their jobs when coal and steel firms close amid campaigns to cut overcapacity."

Source : BLOOMBERG

[verwijderd] 27 januari 2016 18:56

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www.eurofer.org/News%26Media/Press%20...

voda 27 januari 2016 19:51

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quote:
Willem 007 schreef op 27 januari 2016 16:33:
[...]

Beste Voda(hans),

Wanneer volgens jou zal de staal markten weer verbeteren want als je naar de bouw en auto industrie kijkt zie je dat het in die branches behoorlijk is aangetrokken.
Ik lees jou antwoord wel.

de kat.

Hallo Willem (de kat),

Dit is een zéér lastige vraag. Ik denk dat niemand een antwoord hier op heeft. Ik kan je echter wel mijn mening geven.
(Specifiek Arcelor)

Ik denk dat het aandeel nu wel de ergste tijden achter de rug heeft.
De 4e kwartaal cijfers zullen meer inzicht geven, maar wat belangrijker is hoe de heer Laksmi Mittal denkt over het komende jaar.

Succes met het aandeel!

Met vriendelijke groet,

Hans

voda 28 januari 2016 16:04

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Brussel komt met importheffingen staal - media

AMSTERDAM (Dow Jones)--De Europese Commissie zal importheffingen voor staal uit China en Rusland invoeren. Dit schreef persbureau Reuters donderdag op basis van bronnen.

Voor koudgewalste platte staalproducten uit China wordt vermoedelijk een importheffing tot 16% doorgevoerd en voor dit type staal uit Rusland zelfs tot 26%.

Brussel onderzoekt ondertussen nog altijd of de twee landen hun staal in Europa dumpen. Eurofer, een brancheorganisatie, diende hierover een klacht in bij de Europese Commissie.

Na de berichtgeving door Reuters kwam het aandeel ArcelorMittal flink in beweging. Inmiddels is het fonds de grootste stijger in de AEX met een koerswinst van 3,3% op EUR3,72. Ook Aperam had de wind in de rug en won 2,9% op EUR29,65.

Door Dow Jones Nieuwsdienst: +31-20-5715200; amsterdam@dowjones.com

voda 28 januari 2016 16:19

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Moeilijk jaareinde Nucor

AMSTERDAM (Dow Jones)--Nucor (NUE) heeft een lastig kwartaal achter de rug waarin een lagere omzet en fikse afschrijvingen tot rode cijfers leidden. Dit bleek donderdag uit de kwartaalcijfers van de Amerikaanse staalreus.

De omzet daalde afgelopen kwartaal naar $3,5 miljard. Een jaar eerder lag de omzet nog op $5 miljard. Door de dalende omzet zag Nucor de winst van $210 miljoen een jaar eerder, teruglopen naar een verlies van $62 miljoen in de afgelopen verslagperiode.

De aangepaste nettowinst, dat wil zeggen zonder bepaalde afschrijvingen ter waarde van $237 miljoen, kwam uit op $145 miljoen, ofwel $0,46 per aandeel. Daarmee deed Nucor het ruim beter dan de $0,15 tot $0,20 die de staalreus zelf voorzag.

Zowel de productie als de verschepingen lagen afgelopen kwartaal 16% lager dan een jaar eerder.

Over heel 2015 daalde de omzet naar $14,9 miljard, van $21,1 miljard. De nettowinst halveerde van $714 miljoen naar $358 miljoen.

Door Dow Jones Nieuwsdienst; +31 20 5715 200; amsterdam@wsj.com

voda 28 januari 2016 16:58

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'Importheffing op Russisch en Chinees staal'

Gepubliceerd op 28 jan 2016 om 13:00 | Views: 4.735

BRUSSEL (AFN) - De Europese Unie komt met invoerheffingen op plaatsstaal uit China en Rusland. Dat meldde persbureau Reuters donderdag op gezag van ingewijden. Beide landen worden er al geruime tijd van beschuldigd dat zij hun staal onder de kostprijs dumpen op de Europese markt, ten nadele van lokale producenten.

De Europese Commissie doet op verzoek van brancheorganisatie Eurofer onderzoek naar die aantijgingen. In afwachting van de uitkomsten wordt voor Chinees plaatstaal een importheffing opgelegd tot 16 procent en op Russisch staal een die kan oplopen tot 26 procent, aldus Reuters. De voorlopige maatregelen zouden tussen nu en medio februari worden aangekondigd.

voda 28 januari 2016 17:01

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Laagste winst voor staalbedrijf Posco ooit

Gepubliceerd op 28 jan 2016 om 09:41 | Views: 3.508

SEOUL (AFN/BLOOMBERG) - Het Zuid-Koreaanse staalconcern Posco heeft afgelopen jaar zijn laagste winst ooit behaald, onder druk van de fors gedaalde staalprijzen. De winst exclusief minderheidsbelangen bedroeg 181 miljard won (138 miljoen euro), tegen 626 miljard won een jaar eerder.

Net als andere staalbedrijven heeft Posco te kampen met de grote hoeveelheid goedkoop staal uit China die op de markt wordt gebracht. Posco denkt dat dit jaar de wereldwijde vraag met 1 procent zal stijgen, geholpen door meer behoefte vanuit de auto-industrie en scheepsbouw.

voda 28 januari 2016 17:13

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Union warns of backlash from cheap steel imports

The Guardian reported that with many hardware dealers now importing cheap Chinese steel products, the Steel Workers Union is warning government and contractors that infrastructure in Trinidad &Tobago will not be able to stand natural disasters in the near future as dozens of retrenched workers of Central Trinidad Steel Ltd, T&T’s leading supplier of steel products, protested in front of the company’s Point Lisas plant

SWUTT general secretary Mr Lancelot Smart said the fallout from the plant’s shutdown earlier this month has led many hardware dealers to import cheap and low grade Chinese products, which have been flooding the international market.

He called on the Bureau of Standards to conduct mill tests on the products being sold by the dealers, especially for government contracts. He said steel buyers need to be aware that their products cannot be issued quality assurances.

He said “We had a meeting with Centrin some time last year when they asked us to give whatever assistance we can by speaking to our affiliates and if possible, by speaking to the Government to see what they can do about hardware dealers bringing in steel from China. Of course with hardware dealers bringing in their own steel, it hampered Centrin’s ability to sell.”

He added “In our efforts, they came and laid off the workers and are doing the same things they had asked the Government to stop other people from doing. We will be very careful to advise that these steels are inferior without it being tested. What we want to advise is that the Bureau of Standards get involved and do testing and these imported steel.”

Centrin produced roofing sheets, Z purlins and C purlins, decking sheets, BRC wire, welded wire mesh, chain link wire, rebars, rounds and High Tensile Deformed Reinforcing Bars. The company’s operation was halted due to ArcelorMittal’s plant being shutdown last year. Centrin relies on ArcelorMittal’s billets to make its products. This led to Centrin issuing retrenchment notices to 200 employees on January 11.

Source : The Guardian

voda 28 januari 2016 17:13

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Lay Offs – Tata Steel UK – 700 plus jobs set to go at Port Talbot

Scunthorpe Telegraph reported that meetings with Tata Steel employees at the Port Talbot plant have been taking place - with the company expected to cut 726 jobs.

The company announced around 700 job losses last week, with Sky News reporting that 332 will come from the "blue collar" part of the workforce and 394 from the "white collar".

The South Wales plant employs 4,000 people.

Sky said meetings with employees have been taking place, but individuals were unlikely to have been told their specific circumstances.

The job losses come after 900 were announced at the Scunthorpe plant in October. Tata Steel are in talks with Greybull Capital to sell the long products division with a March 31 deadline.

Source : Scunthorpe Telegraph

voda 28 januari 2016 17:14

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Royal Navy used foreign steel in new aircraft carriers – Report

The Mirror reported that the Labour Party discovered that 5,000 tonnes, about 6%, of the steel used in the Queen Elizabeth-class ships came from overseas while UK PM Mr David Cameron last week insisted British steel was being used for the GBP 6.2billion Queen Elizabeth-class ships.

The Ministry of Defence was asked how much British steel had been used in major military projects since 2010.

Tory Minister Philip Dunne said: “Supply chains are complex and the Ministry of Defence does not hold a complete, centralised record of steel procurement for projects and equipment, either in terms of quantity or country of origin, over the past six years. But for the largest defence procurement project during this period, construction of the two Queen Elizabeth Class Aircraft Carriers, some 77,000 tonnes out of a total of 82,000 tonnes of steel used was manufactured in the UK.”

It means six per cent of the total steel used on the carriers was bought from abroad.

Steelworkers’ union Community General Secretary Roy Rickhuss said: “They just don’t get it; instead of proactively seeking to use British steel wherever possible, they seem happy to sit back as our industry collapses. All public sector procurement, particularly within the defence sector, should be using British steel, not cheap foreign alternatives.”

The 65,000-tonne, 920ft Queen Elizabeth carriers are being built at Rosyth dockyard and will be the Navy’s biggest and most powerful ships. HMS Queen Elizabeth is due to launch next year.

Source : The Mirror

Bijlage:

voda 28 januari 2016 17:17

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CSN BF 2 at Presidente Vargas mill in Volta Redonda goes under maintenance

Brazil steelmaker Companhia Siderurgica Nacional (has confirmed the shutdown of a blast furnace at its Presidente Vargas mill in the city of Volta Redonda, in the state of Rio de Janeiro. According to the company, on Sunday morning it idled its No. 2 blast furnace, which will remain shutdown for maintenance for 90 days.

BF 2 accounts for 30 percent of the company’s 5.6 million tonne output.

CSN will not likely lay off more people, since it has agreed with a local union to preserve existing jobs and interrupt the massive layoffs, after dismissing 700 workers.

250 people worked at the idled furnace. Since the equipment is shutdown, some people are expected to work at the company’s No 3 blast furnace, while other employees will work in the maintenance of the No 2 equipment.

Source : Strategic Research Institute

voda 28 januari 2016 17:18

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USW steelworkers to Mr LN Mittal - We deserve a fair contract now

About 100 USW members, retirees and supporters rallied at rush hour outside ArcelorMittal’s corporate offices in downtown Chicago on the morning of Wed., January 27, 2016, and delivered a loud, clear and unified message directly to group chairman and CEO, Mr Lakshmi Mittal, “We deserve a fair contract now!”.

Mr Mittal and soon-to-depart ArcelorMittal Americas CEO Lou Mr Schorsch were drawn to the USW rally from their offices, and invited a delegation of USW members inside for coffee and a brief discussion of the issues. Once inside, the delegation told Mr Mittal and Mr Schorsch that tens of thousands of active and retired stand in solidarity against ArcelorMittal’s contract demands, that the USW cannot allow the company to take away the rights and benefits members have earned and will not allow management to triple the amount retirees contribute to health insurance premiums.

USW District 1 Director Mr David McCall, who chairs the union’s negotiations with ArcelorMittal said “The company’s demands would immediately lower the standards of living for our members and retirees. Further, these proposals are clearly designed to undermine our ability to defend our benefits in future negotiations.”

More than 13,000 workers at ArcelorMittal facilities in Indiana, Illinois, Ohio, Pennsylvania, West Virginia, Minnesota, South Carolina and Louisiana have continued to work under existing terms and conditions since contracts with the company expired on Sept. 1, 2015, while negotiations for new contracts have been slowed by management’s demands for significant concessions.

Although the USW has reported some progress in contract talks, ArcelorMittal persists in demands for drastic changes to active and retiree benefits plans, among other unfair and unnecessary concessions.

Source : Strategic Research Institute

voda 28 januari 2016 17:20

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Police uses armoured vehicles confront ILVA steel workers in Genoa

ANSA reported that police used armoured vehicles on Wednesday to block a group of about 500 protesting ILVA workers in the third consecutive day of demonstrations by employees of the troubled steel group's plant in Cornigliano as the protesters had brought heavy machines with them to the march and were heading towards the city prefecture.

Genoa Prefect Fiamma Spesa authorised the march to pass through but without the heavy machines.

Unions initially refused this and demanded Spesa act as a guarantor that a government official, such as Economic Development Minister Federica Guidi or a deputy minister, would be present at a February 4 meeting scheduled at the ministry building in Rome.

After negotiations, however, the march proceeded without the heavy equipment.

Genoa has been in chaos since Monday due to the protest marches, which on Tuesday caused thousands of drivers to be blocked on one of the city's main highway interchanges.

Source : ANSA

voda 28 januari 2016 17:20

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Jindal Stainless Hisar to expand cold rolling capacity to 400000 tonnes

PTI reported that a day ahead of its listing, India's largest stainless steel maker Jindal Stainless (Hisar) Ltd has said it will expand its cold rolling capacity from 275,000 tonnes to 400000 tonnes in 2-3 years.

JSHL, which will start trading on the BSE and HSE from today, will concentrate on high quality stainless steel for the nuclear and defence sectors.

JSHL Vice Chairman Mr Abhyuday Jindal said "Over the next 2-3 years we will be enhancing cold rolling capacity by around 45 per cent from existing 2.75 lakh tonnes to around 4 lakh tonnes leading to maximum value addition. Z-mills and bright annealing lines will also be doubled.”

Mr Jindal said: "JSHL is the world's largest producer of stainless steel strips of razor blades and India's largest producer of coin blanks, serving the needs of Indian and International Mints."

He added “As part of it innovation, JSHL has come up with high quality stainless steel for the growing Nuclear Sector and is currently running trails to develop special grade of stainless steel for various defence applications.”

On funds for the expansion, Mr Jindal said: The capital requirement for expansion and modernisation will be met through a mix of debt and equity."

Source : PTI

voda 28 januari 2016 17:22

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Gerdau, Sumitomo Corp and Japan Steel Works announce JV for wind power in Brazil

Gerdau announces its plans to form a joint venture with the Japanese companies Sumitomo Corporation and The Japan Steel Works to serve Brazil's growing wind power industry. The project, which will require approval from anti-trust authorities, is expected to be located in Pindamonhangaba (São Paulo) and will supply parts for wind turbine towers starting in 2017.

The initiative was made possible by Gerdau 2022, a project launched in 2015 that aims to boost the competitiveness of the company's entire operations guided by a long term strategic vision. Specific measure include streamlining internal operations and structures, modernizing the corporate culture, reassessing the potential profitability of assets and developing new business opportunities.

Gerdau's CEO Mr André B Gerdau Johannpeter said “We're working to transform Gerdau into a more efficient and profitable company, given the current and future challenges of the global steel industry. We're seeking to join forces with partners with recognized experience in their industries in order to create new business opportunities. With Sumitomo Corporation and JSW, we will develop high-tech products for our clients, which will enable them to generate higher profit margins.”

The new joint venture is expected to be formed by the partners Gerdau, Sumitomo Corporation and The Japan Steel Works (JSW) and will require R$280 million in investments for the acquisition of new production equipment. Gerdau will supply assets for the production of rolling mill rolls, without any expected cash expenditures. The project will be located at Gerdau's mill in Pindamonhangaba, which will supply special steel for the manufacture of parts for wind turbine towers (main shaft and bearing rings). This project will create 100 new direct jobs.

Sumitomo Corporation and The Japan Steel Works (JSW) are Japanese companies with vast expertise in the global wind power industry and technological mastery of production processes for components for the industry. Gerdau's joint efforts with the two companies will enable local production of parts for the construction of new wind farms in the country, supplying clients with high-quality products at competitive costs.

Gerdau's interest in the joint venture should surpass 50%, making it a higher interest in the partnership. In addition to equipment for the wind power industry, the new company will also manufacture rolling mill rolls for the steel and aluminum industry, which are products already made by Gerdau and marketed in over 30 countries. Total capacity for the production of parts for the wind power industry and of rolling mill rolls should reach 50,000 tonnes per year.

The prospects for Brazil's wind power industry are promising. According to the Brazilian Wind Power Association, Brazil's installed wind capacity currently accounts for 6% (8 GW) of the country's electricity generation. By 2024, this figure is expected to reach 11% (24 GW), according to the Ten-Year Energy Expansion Plan of the Ministry of Mines and Energy. Wind power generation is especially well suited to the country's Northeast and South, given the regions' regular winds and favorable conditions for the installation of equipment. Furthermore, wind energy is a clean and sustainable form of power generation and avoids CO2 air emissions.

The execution and formalization of the joint venture is pending analyses and approval by the applicable authorities.

Source : Strategic Research Institute

voda 28 januari 2016 17:23

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Lay Offs – TMK - 126 more workers to go at Ipasco

Cincinnati Enquirer reported that Roughly 126 workers at TMK Ipsco will be laid off this March, according to Worker Adjustment and Retraining Notification notices filed earlier this month with the Kentucky Career Center.

Houston-based TMK Ipsco serves the energy industry, and as crude oil exploration wanes and foreign imports of steel increase, the company has shed employees to a crew of one shift per day.

In June 2015, the company announced that its workforce of 320 workers would be reduced to 54 people by July. The July layoffs, along with 115 jobs cut in the preceding months, equated to a 83 percent reduction of employees, mostly in production roles.

The company, with annual revenues of $1.7 billion in 2014, produces high-frequency electric resistant welding (ERW) process steel pipes used in oil and gas extraction and transmission at the sprawling Wilder mill alongside the Licking River.

Company and union officials continue to blame the layoffs on the drastic drop-off in profits of the oil and gas industry, as well as trade agreements that they say allow the import of cheaper ERW steel from China and South Korea.

Ray Rogg, who has worked at the company for 25 years through its various owners and name changes, said plant managers are saying the layoffs are temporary, but it could take years before people are called back to work.

Source : Cincinnati Enquirer

voda 28 januari 2016 17:25

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Accuride launches steel wheel with new anti corrosion coating

Auto wheel giant Accuride has announced a new steel wheel coating it says will, for many fleets, eliminate the need to refurbish wheels. The new Eversteel coating, available beginning in February, is the industry’s first steel wheel to be warranted against corrosion for up to five years

The coating was developed for fleets operating in Canada and the northern states, where corrosive anti-icing products are applied to roads. It builds upon Accuride’s Steel Armour coating, which has been in the market since 2014.

Accuride says Eversteel will delay the onset of corrosion by eight to 10 years, saving customers about $105 per wheel in refurbishing costs. The coating lasts twice as long as Steel Armour and six times as long as steel wheels without any coating.

Accuride president and CEO Mr Rick Dauch said “Eversteel wheels will be available in white, gray and black. Dauch said the coating was developed to help fleets manage the issue they’re facing with having to refinish steel wheels. One fleet running in the US Midwest was spending $3.5 million a year refurbishing steel wheels.”

He said “For those fleets who have corrosion issues, I think it’s going to be a winner. It will also contribute to greater safety, he added, noting paint build-up on steel wheels can result in wheels that are not properly torqued. While there will be a cost premium compared to Steel Armour, Eversteel wheels will still cost less than aluminum wheels.”

Accuride also introduced lighter-weight aluminum wheels. The 41730 and 41012 wheels were re-engineered to reduce weight by 5-7%. They’ll be available in 22.5”x9” sizes and will be ready for order in March, replacing the currently available models 29730 and 40012. The 417390 weighs 58 lbs and the 41012 weighs 51 lbs, representing a four- and three-pound weight savings, respectively.

Source : Strategic Research Institute

Bijlage:

voda 28 januari 2016 17:27

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Lay Offs – Tenaris - To suspend operations at Houston couplings facility

Tenaris announced on January 25th that it will suspend operations at its couplings facility in Houston, TX, at the end of March 2016, for an undetermined period of time. The suspension will affect about 165 employees.

It said “The decision was driven by a combination of factors – the falling price of oil, the continuing reduction in rig activity and close to a year of inventory on the ground created mostly by unfairly traded imports of OCTG from South Korea. The price of oil hit a 12-year low recently and the number of active rigs is down more than 60 percent from the onset of the crisis.”

Mr Luca Zanotti, Vice President and Managing Director for Tenaris USA, said “This is a tough market with low visibility. We are making difficult decisions in this environment to better position Tenaris for when the market returns.”

It added “Tenaris remains committed to the US industry, focused on long-term growth in the domestic market. The company continues with its investment plans, such as its seamless mill currently under construction in Bay City,TX.”

Source : Strategic Research Institute

Vertraagd	7 feb 2025 17:35
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Volume gemiddeld	2.536.810
Volume gisteren	11.236.094

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