Eurobench.com

voda 29 januari 2016 16:09

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Lay Offs - Kumba Iron Ore - 2633 jobs to go at Sishen mine in South Africa

Sishen Iron Ore Company (Pty) Ltd, an operating company of Kumba Iron Ore Limited, has commenced a consultation process in terms of section 189 and 189A of the Labour Relations Act. Kumba Iron Ore Limited is a business unit of Anglo American.

Source : Strategic Research Institute

voda 29 januari 2016 16:19

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Australia and Brazil increase their iron ore shipments to China further in 2015

Australian Financial Review reported that iron ore cargoes from Australia, the top exporter, accounted for 64 per cent of China's imports last year from 59 per cent in 2014 and 51 per cent the year before while Brazil's share rose to 20 per cent in 2015, 2 percentage points higher than in 2014.

In tonnage terms, sales by Australian miners to China rose 11 per cent to 607.4 million tonnes last year from 2014, while shipments from Brazilian producers expanded 12 per cent to 191.6 million tonnes. The rest-of-the world's share dropped to about 16 per cent from 23 per cent.

The figures from customs data signal that the strategies pursued by Rio Tinto Group and BHP Billiton in Australia and Brazil's Vale of raising output to defend market share may be paying off as prices tumble.

Higher-cost miners in mainland China as well as in exporting nations have shuttered operations as the rout deepened. The pace of mine closures and production cuts will probably accelerate this year and there'll be a smaller number of producers toward the end of the decade, Goldman Sachs Group said in a report last month.

Source : Australian Financial Review

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voda 29 januari 2016 16:29

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Brussel neemt actie tegen Chinese import betonstaal

AMSTERDAM (Dow Jones)--De Europese Commissie heeft vrijdag maatregelen aangekondigd tegen de invoer van staven betonstaal uit China.

De anti-dumping maatregel volgde op een klacht van brancheorganisatie Eurofer. "Het bij de klacht gevoegde voorlopige bewijsmateriaal over dumping van het betrokken product, en de aanmerkelijke schade als gevolg daarvan, werd voldoende geacht om een onderzoek te openen", aldus de Commissie. Dit onderzoek toonde vooralsnog aan dat dumping inderdaad heeft geleid tot "aanmerkelijke" schade.

Op basis van de onderzoeksresultaten besloot Brussel om een importheffing in te stellen, die in de meeste gevallen 13,0% bedraagt en in enkele gevallen 9,2%.

Donderdag schreef persbureau Reuters dat de Europese Commissie overweegt om ook importheffingen in te stellen op koudgewalste platte staalproducten uit China en Rusland. Voor China zou het gaan om een importheffing tot 16% en voor Rusland zelfs tot 26%.

In een reactie liet een woordvoerder van de Europese Commissie weten dat over een eventuele maatregel voor de import van deze staalproducten nog geen besluit is genomen.

Het aandeel ArcelorMittal (MT.AE) staat vrijdag omstreeks 16.15 uur 4,6% lager en Aperam (056997440.LU) daalt 2,2% op een stijgende beurs.

Dow Jones Nieuwsdienst; +31 20 571 5201; bart.koster@wsj.com

voda 29 januari 2016 16:49

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China saves USD 657 billion in 2015 from the commodities rout

Sydney Morning herald reported that China's annual savings from the commodities rout amount to $US460 billion ($657 billion), according to calculations by Kenneth Courtis, former Asia vice chairman at Goldman Sachs Group Inc. About $US320 billion of that is from cheaper oil, with the rest from other energy, metals, coal and agricultural commodities.

Benefits are rippling through the economy, pushing down or steadying prices of everything from home heating and petrol prices to the cost of raw materials at factories. That's also boosting China's efforts to recalibrate its economic growth model away from a reliance on heavy industries and investment toward consumption and services.

"It's shown up in low consumer-price inflation and more stuff that households have been able to buy," said Louis Kuijs, the head of Asia economics at Oxford Economics Ltd. in Hong Kong and a former World Bank economist in Beijing. "Manufacturing companies would have had even worse profit developments if it had not been for those low commodity prices."

China saved $US188 billion in import costs last year on a basket of 10 commodities ranging from oil to soybeans and natural gas, the Ministry of Commerce said in a statement this month. "That significantly cut the costs of domestic companies and improved efficiency," the ministry's spokesman said.

Source : Sydney Morning Herald

voda 1 februari 2016 16:00

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Dalende staalprijs brengt nieuwe emissie ArcelorMittal dichterbij

•Jeroen Groot
Gisteren, 18:00Update: gisteren, 18:30

Het grootste staalbedrijf ter wereld heeft nog kredietruimte bij de banken, maar de aanhoudend lage staalprijs brengt het moment dat ArcelorMittal opnieuw aandelen moet uitgeven wel dichterbij. Hoofdschuldige voor de lage staalprijs is het overaanbod op de wereldmarkt voor staal. Volgens ArcelorMittal en zijn branchegenoten 'dumpen' staalfabrieken uit China bovendien op grote schaal overtollig, goedkoop staal op de Europese markt. En dat komt hard aan bij ArcelorMittal. Het bedrijf is wereldwijd actief maar haalt bijna de helft van de omzet uit Europa. Daarnaast profiteert de staalfabrikant niet van de gekelderde prijzen voor ijzererts, omdat het met eigen mijnen voor een groot gedeelte in de eigen behoefte voorziet voor deze belangrijke grondstof.

'Ik schat de kans op een emissie dit jaar op meer dan 50%', zegt analist Joost van Beek van Theodoor Gilissen. Volgens Van Beek nadert ArcelorMittal het moment dat het niet meer aan de kredietafspraken - de zogenoemde convenanten - met de banken kan voldoen. Volgens die afspraken mag de verhouding tussen het brutobedrijfsresultaat en de nettoschuld, de zogenoemde schuldratio, niet meer dan 4,25 bedragen. In 2014 was dat 2,2, voor heel 2015 is die ratio opgelopen naar 3, op basis van de verwachtingen van ArcelorMittal bij de derdekwartaalcijfers. In 2013 haalde het bedrijf al eerder kapitaal uit de markt, toen werd $4 mrd opgehaald met een emissie van aandelen en een conversie van obligaties.

'Breekpunt'

De aandelenkoers van ArcelorMittal zakt steeds verder weg. Vrijdag ging er bijna 6% van de koers af en was ArcelorMittal de enige daler in de Amsterdamse AEX, die meer dan 2,5% won. En dat terwijl juist vrijdagochtend bekend werd dat de Europese Unie harder gaat ingrijpen tegen goedkoop staal uit China. Goed nieuws, dat direct werd overschaduwd door opmerkingen van de topman van de Duitse concurrent ThyssenKrupp. Die stelde op een aandeelhoudersvergadering van zijn bedrijf dat de Europese sector 'op een breekpunt staat' en waarschuwde dat milieumaatregelen van diezelfde Europese Unie de sector de nek om kunnen draaien.

Toch is het het vertrouwen in de overheid dat sommige analisten ertoe brengt om - ondanks de dalende koers - een koopadvies af te geven. Analist Rochus Brauneiser van Kepler Cheuvreux stelt telefonisch vanuit Duitsland dat de importheffing van vrijdag maar een klein stapje. Er zullen volgens hem meer maatregelen volgen, die uiteindelijk lucht zullen geven aan ArcelorMittal en branchegenoten.

Ontslagvergoedingen

De vraag is, los van de impact van milieumaatregelen op de langere termijn, of ArcelorMittal het wel zo lang kan uitzingen. 'Nog meer bezuinigen is lastig, maar ook onvermijdelijk: de kosten zullen dan voor de baten uitgaan en dus het resultaat in 2016 nog verder drukken', stelt Van Beek van Theodoor Gilissen. Het sluiten van staalfabrieken in Europa stuit op verzet en is kostbaar vanwege de ontslagvergoedingen die betaald moeten worden.

De onzekerheid maakt dat de koersuitslagen fors zijn: de laatste weken prijkt ArcelorMittal regelmatig bovenaan de lijstjes van de grootste dalers én stijgers in de AEX. Beleggers met een optimistische blik gaan er nog steeds van uit dat de economie, en daarmee de vraag naar staal, eens zal aantrekken en daarmee ook de koers van ArcelorMittal. Vlak voor de financiële crisis in 2008 piekte ArcelorMittal op €62,80. De slotkoers vrijdag: €3,48.

ArcelorMittal wilde niet ingaan op vragen van deze krant over een mogelijke aandelenemissie. Het bedrijf brengt op 12 februari de cijfers over heel 2015 naar buiten.

Bron: FD.nl
http:?//fd.?nl/beurs/1137613/dalende-staal?prijs-brengt-nieuwe-emissie-ar?celormittal-dichterbij

voda 1 februari 2016 16:43

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Nippon Steel snijdt scherp in winstprognose

Gepubliceerd op 1 feb 2016 om 11:04 | Views: 3.034

TOKIO (AFN) - Het Japanse Nippon Steel & Sumitomo Metal, het grootste staalconcern van Azië, is flink negatiever geworden over zijn jaarwinst. Dat bleek maandag.

De winstprognose werd met ruim een vijfde naar beneden toe bijgesteld, tot 140 miljard yen (zo´n 1,1 miljard euro). Tegelijkertijd kondigde het concern een groot aandeleninkoopprogramma aan en zei het gesprekken te voeren om zijn partner Nisshin Steel volledig in handen te krijgen.

Nippon Steel lijdt zoals de rest van de sector van de aanhoudende zwakke staalprijzen, verder aangejaagd door de afkalvende vraag in China. Eerder al zei de topman van de Duitse concurrent ThyssenKrupp een waarschuwing af, door te zeggen dat de situatie in de sector zorgwekkend is. Het eveneens Japanse JFE Holdings kwam met de tweede winstwaarschuwing in drie maanden tijd naar buiten en het Zuid-Koreaanse Posco rapporteerde de kleinste jaarwinst ooit.

,,De lage prijsniveau´s zullen enige tijd aanhouden'', aldus Nipponbestuurder Katsuhiko Ota.

voda 1 februari 2016 17:01

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Thousands march in Hamilton streets to stand up for steel

CBC News reported that a march to "stand up for steel" attracted a few thousand workers from all over the province to downtown Hamilton on Saturday. The workers rallied at city hall and then marched down Main Street, up John Street and around to King Street before attending another rally at the Convention Centre.

The march came as local steelworkers and retirees have been anxiously watching the bankruptcy protection process underway for U.S. Steel Canada — a process that may or may not end with a viable steel company in the city and pensions for thousands of retirees.

Below, five people answer the question: Why did you come today?

Brad Walchuk said “It's just about access to good jobs in the Hamilton community. When you potentially lose a big employer like Stelco, it has ripple effects in every industry now and certainly for the future as well."

Dave Hutchinson, 63, active steelworker, said “I'm a steelworker and I'm going to be collecting a pension someday, and I need to be active and make sure that's going to happen. Becoming a steelworker seemed like a good option a lot of years ago. We all hung in there because they told us at the end of the rainbow there'd be a pension and benefits, right? When you're young, you think, well, should I stay here or should I leave? And after I think it's 10 years, you're now vested in the pension and you've got to think seriously, do I want to give that up? So most of us stayed because of the promise. Stelco was a good employer."

Kathleen Samuel, 71, widow of a retired steelworker, “It's to show them that we care. You've got to stand up for something. If you don't stand up for something, you're going to fall for anything."

Doug Parry, retired steelworker, said "I am here because U.S Steel has affected me personally. I'm a retiree. They cut off my cost-of-living [increase] arbitrarily. With the benefits that they cut on Oct. 9, I've personally had to pay hundreds of dollars out of my own pocket and it's forced me to switch to other medicines. A lot of my brothers and sisters are in worse shape than I am as far as financial stability goes. It's just wrong what U.S. Steel has done. And they brought their 'Carnegie' style up here to do us in. It's terrible what the government's allowing them to get away with. A lot of us got sick, got injured. Some of them died on the job to produce and make a good living wage for themselves and their families and now that all doesn't matter. This is also going to have a ripple effect in Hamilton. Because the more we have to depend on agencies in the city, it's going to cost the city more money too.

Doug Mair said "We owe steelworkers a hell of a lot in this city. From the first migrants that predominantly started coming from Italy and Portugal and the British Isles. This is why we built this beautiful city. I didn't work for the steel companies. But there was never a time that, when we were trying to initiate what turned into support benefits for all of us, we always had the trade unions at our back. I might be almost 70 but that doesn't mean I'm going to lay down and say 'Oh well, OK, it's somebody else's problem.'

Source : CBC News

voda 1 februari 2016 17:02

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Scandia Steel Baltic targets financial year revenue of EUR 15 million

Scandia Steel Baltic, a Swedish-owned Lithuanian metal processing and trade company, targets a pretax profit of around 1.2 million euros on revenue of 15 million euros for the current financial year after posting 14.791 million euros in revenue for the past financial year, up 28.6% from 11.498 million euros a year earlier, reports LETA/BNS.

Scandia Steel Baltic's net profit for the financial year ended Jun. 30, 2015 soared by 37.3% year-on-year to 989,200 euros, the company said in its annual report filed with the Center of Registers.

According to the report, it paid out 200,000 euros as dividends to its shareholders for the past financial year.

Sweden's Scandia Steel Forvaltig owns 92% of shares in Scandia Steel Baltic and Sweden's Marcus Eriksson Investerig och Forvaltig holds the remaining 8%.

Source : baltic-course.com

voda 1 februari 2016 17:04

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EUROFER overview of steel using sectors

Activity growth of the steel using sectors in Q3-2015 came in slightly below expectations. Total Q3 growth of 1.8% YoY was particularly affected by a stronger than anticipated drop in steel tube production. In contrast, sectors producing consumer goods such as cars and white goods have been doing better than expected owing to the robust boost from increased consumer spending during 2015. In line with previous forecasts, improving activity in the residential construction segment resulted in a strengthening rebound in construction sector output. These positive trends have likely continued into the final quarter of 2015, with again a robust performance of consumer-related sectors.

Source : Strategic Research Institute

voda 1 februari 2016 17:05

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Vietnamese rebar makers oppose import duties on steel billets

VietNamNet Bridge reported that Vietnamese steel manufacturers oppose the possible imposition of safeguard measures against ingot steel imports, saying that higher taxes will increase prices.

The Ministry of Industry and Trade on December 25, 2015 released a decision on possibly applying trade remedies against imported ingot steel and long steel products, following proposals by four foreign manufacturers Hoa Phat, Mien Nam, Thai Nguyen and Viet Y. The manufacturers proposed to raise the tax to 45 percent on ingot steel and 33 percent on long steel products as a measure to protect local production. They showed documents to prove that the import volume to Vietnam has been increasing rapidly from 588,000 tons in 2014 to 1.5 million tons in 2015. The import volume to Vietnam has been increasing rapidly from 588,000 tons in 2014 to 1.5 million tons in 2015.

A group of domestic steel manufacturers voiced their protest against trade remedies on imports, warning that higher taxes would threaten the development of the steel industry in Vietnam. A petition was lodged with the Prime Minister and relevant ministries by the group of enterprises, including Pomina JSC, NatsteelVina, Vinausteel, SSE, BCH JSC and Viet Duc Company. They said the high 45 percent tax rate, expected to be applied within 200 days, would lead to unhealthy competition in the market.

Meanwhile, the companies pointed out that the ingot steel import volume in 2015 was even lower than that in the years before. In 2008-2009, Vietnam imported 2.4 million tons of ingot steel a year, while the volume was just 63 percent of that level, 1.5 million tons, in 2015. They argued that the domestic market suffered seriously in 2011-2015 because of many reasons, rather than the import increase. One of the major reasons was the oversupply of domestic output, 2-3 times higher than demand.

Who will benefit if trade remedies are applied? If the import tax on ingot steel increases to 45 percent (it was 9 percent in 2015), the ingot steel price in the domestic market will increase sharply. This would force domestic steel manufacturers, most of which cannot make ingot steel themselves, to rely on a limited number of ingot steel suppliers.

If so, the trade remedies, if applied, would only benefit some ‘big players’ who can control the ingot steel supplies. Meanwhile, the others would have to pay more for ingot steel imports and incur higher production costs.

Source : VietNamNet Bridge

voda 1 februari 2016 17:06

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Nippon Steel & Sumitomo Metal and Vallourec enhance strategic partnership

Nippon Steel & Sumitomo Metal Corporation announced that, on February 1, NSSMC has reached an agreement with Vallourec SA, an important strategic partner in the pipe and tube business, to enhance our strategic partnership through expansion of their existing business cooperation. Since more than 40 years ago, NSSMC and Vallourec have enjoyed the partnership for the VAM® premium connection, as well as operation of joint ventures in the U.S., Brazil, and Asian regions, and thereby strengthened individual businesses. NSSMC and Vallourec will significantly expand the business cooperation as described below; in particular for VAM®, we will transform the current scope of collaboration into a more comprehensive partnership. This initiative would help enhance the synergy creation for each of NSSMC and Vallourec to individually expand profits even under the current severe market conditions driven by the low oil price levels.

Source : Strategic Research Institute

voda 1 februari 2016 17:07

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Industry body UK Steel warns of more job losses as EU sets 13% duties on rebar imports

BBC News reported that UK steel industry is warning of job losses as a result of the EU's failure to impose high import tariffs on a steel product made in the UK after EU has set provisional duties on Chinese imports of reinforced bar or rebar of between 9.2% and 13% last week.

Industry body UK Steel said "The scale of the crisis affecting the European steel sector has not yet fully registered with Brussels bureaucrats. The decision is a slap in the face for UK manufacturers of rebar. Chinese companies have taken more than 45% of the UK rebar market, having had none of it four years ago. Unless these provisional duties are increased, then we will see further job losses in the rebar sector in the future, as China shows no sign of stemming this tidal wave of rebar exports, with ever increasing tonnage reaching our shores.”

The main maker of rebar in the UK is Celsa Steel, the Spanish owned steelmaker, which is based in Cardiff. Celsa Steel UK managing director Luis Sanz said: "The Commission must now focus on achieving higher and more appropriate levels for the final duties, as quickly as possible. In the meantime, we hope the construction sector will recognise their responsibility to support sustainable British steel in the supply chain, and avoid these unfairly traded products."

Commenting on the decision by the EU to impose low-level duties on the imports of Chinese rebar, Roy Rickhuss, general secretary of Community, the steelworkers' union said: "British steelworkers could be forgiven for thinking the EU hasn't noticed the global steel crisis crippling our industry. The decision to impose such a low duty on imported Chinese rebar clearly demonstrates that EU politicians just don't get it. "Having already taken far too long to act, it only adds insult to injury to effectively give China a slap on the wrist.

The Commission launched an anti-dumping investigation into imports of HFP rebar from China in April following a complaint from European steel association Eurofer.

Source : BBC

voda 1 februari 2016 17:09

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China Eximbank may fund El Mutun mining and steel project in Bolivia

Xinhua reported that a delegation from the Eximbank of China on Friday met with Bolivia's mining minister to discuss the El Mutun iron ore exploration project. The Chinese delegation was led by Mr Chen Han, division chief for the Eximbank, and Jiang Ming, field manager for concessionary loans. They met with Mining and Metallurgy Minister Mr Cesar Navarro, along with a management team from Bolivia's state-owned enterprise Empresa Siderurgica del Mutun.

Mr Chen after the meeting said “As a bank, we will follow the complete evaluation protocols about this project.”

On January 19, Chinese state-owned enterprise Sinosteel Equipment won the bid for the mining project, located in the eastern town of Puerto Suarez, the investment cost of which is at least USD 450 million

The objective is to produce 150,000 tons of rolled steel a year within the next decade. This would fulfill 60 percent of the domestic demand in Bolivia, which currently imports all its rolled steel from Brazil and Peru.

According to Mr Navarro, the contract with Sinosteel will be signed in February. He predicted that Bolivia will save more than 230 million U.S. dollars a year once this project is fully under way.

Source : Xinhua

voda 1 februari 2016 17:12

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Performance of top 10 steelmakers in China in 2015

China Iron & Steel Association data showed that all but one of the top 10 steelmakers in China reduced output in 2015, a year that marked the first decline in output in 34 years. Collectively, China’s top 10 steelmakers produced 274.73 million tonnes or 34% of the country’s output, adding to nation’s overcapacity woes.

As in the previous year, state-owned giant Hebei Iron & Steel Group took pole position, producing 47.75 million tonnes of crude steel, up 1.4% from 2014. This was followed by Baosteel Group which produced 34.94 million tonnes, or 2.6% less steel.

Privately owned Jiangsu Shagang Group, whose product exports of 6.8 million tonnes last year alone would rank it No. 24 on the World Steel Association’s latest ranking of the largest steel producing countries, saw total output of 34.21 million tonnes — a drop of 3.2%.

Shougang Group, with works mainly in the northern Hebei province, and Wuhan Iron & Steel Group, based in Central China’s Hubei province, swapped positions at numbers five and six respectively.

Rounding off the list, Beijing Jianlong Heavy Industry Group pipped Benxi Steel Group at No. 10 on the list, with output at 15.14 million tonnes.

Privately held Jianlong, headquartered in Beijing but with works in Hebei and across the three northeastern provinces of Liaoning, Jilin and Heilongjiang, was reported to have been the white knight for beleaguered Haixin Iron & Steel of Shanxi province, and the buyer of shares of Tangshan Guofeng Iron & Steel from the state-owned China National Travel Service (HK) Group. Jianlong ranked 12th in 2014 output.

But comparing the latest figures with those for 2014 first released at this time last year, Wuhan Iron & Steel Group and Baosteel Group would have seen output down 22% and 19% respectively.

Wuhan Steel’s output dropped as a result of the exit of Guangxi Liuzhou Iron & Steel, which produced 11.39 million tonnes in 2015. Baosteel’s output took a hit from the departure of Ningbo Iron & Steel, which was acquired by Hangzhou Iron & Steel, and a 42% drop in group member Xinjiang Bayi Iron & Steel Co.’s output.

In Million Tonnes

Source: China Iron & Steel Association
The percentage changes in the table were calculated based on adjusted 2014 output figures provided by CISA.

Source : Platts

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voda 1 februari 2016 17:26

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More steps will be taken to protect Indian steel industry - Minister

PTI reported that Indian steel minister Mr Narendra Singh Tomar on Sunday said that additional steps will be taken to protect domestic steel industry, which is facing a bad patch, in wake of cheap Chinese imported steel.

He told “China was trying to dump its cheap steel in India and as a result of it, the domestic steel industry was in distress. To protest domestic industry, we enhanced import duty and imposed safeguard duty. But these steps were not enough and we will be taking additional steps in this regard.”

According to Tomar, his ministry along with the Finance and Commerce ministries is engaged in a dialogue to work out the steps that need to be taken for protecting domestic steel industry in the near future.

He said "China is offering steel at half price compared to domestic industry in India. The way China is working, it appears that an economic war was on.”

Source : PTI

voda 3 februari 2016 17:05

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AISI update on US raw steel production in Week 04

Published on Wed, 03 Feb 2016 111 times viewed

In the week ending January 30, 2016, domestic raw steel production was 1,657,000 net tons while the capability utilization rate was 70.7 percent. Production was 1,807,000 net tons in the week ending January 30, 2015 while the capability utilization then was 76.4 percent. The current week production represents a 8.3 percent decrease from the same period in the previous year. Production for the week ending January 30, 2016 is down 0.8 percent from the previous week ending January 23, 2016 when production was 1,670,000 net tons and the rate of capability utilization was 69.8 percent.

Source : Strategic Research Institute

voda 3 februari 2016 17:05

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Polish steel producers to spend heavily to match EU emission terms

The News reported that steel producers in Poland will spend over PLN 2 billion over the next three years on reducing industrial emissions in line with EU requirements, according to the Polish Steel Association.

Three-quarters of the sum will be footed by the Polish unit of steel production giant ArcelorMittal, the PAP news agency reported.

Polish industry insiders say that complying with EU directives will weaken the competitiveness of the European steel industry on the global market.

Mr Stefan Dzienniak, head of the Polish Steel Association, told the PAP agency “This is due to the fact that producers from China, Korea, India, Russia and Ukraine are not obliged to carry out similar projects.”

Source : The News - PAP

voda 3 februari 2016 17:08

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Operating conditions improve at solid rate in Japan in January

January data showed overall positive signs for the Japanese manufacturing sector. Production increased at a solid rate, alongside expansions in employment and buying activity. New order growth, meanwhile, slowed to a six- month low, but was nevertheless strong in the context of historical data. Data suggested that domestic demand weighed on total new order growth as new export orders increased at a sharper pace. On the price front, purchasing prices declined for the first time since November 2012. The headline PMI posted at 52.3 in January, down slightly from 52.6 (the joint-strongest reading since March 2014), thereby signalling a sustained solid improvement in operating conditions in the Japanese manufacturing sector.

Source : Strategic Research Institute

voda 3 februari 2016 17:09

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Mobarakeh Steel firms ink 3 contracts with Italian firms

Iran Daily reported that deals on three steel projects involving an investment of EUR 900 million were signed with Italian firms during President Hassan Rouhani's recent visit to Italy, said the managing director of Mobarakeh Steel Company.

Mr Bahram Sobhani told reporters that the projects were planned by firms affiliated to Mobarakeh Steel Company and negotiations were held with foreign parties on investment

Mr Sobhani said that although the projects will be financed through foreign investment, Iranian contractors will be involved in the projects.

He further announced that in the past ten months, Mobarakeh Steel Company exported about 66 percent of its products to Europe where its main competitor was China. The company exported 27 percent of its output in the same period to the Middle East, he noted.

He said that the steel group is the largest industrial consumer of electricity and gas in the country. The group consumes 29 million cubic liters of water, 6.4 million megawatts of electricity and 9.2 billion cubic meters of gas annually

Source : Iran Daily

voda 3 februari 2016 17:09

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Gerdau invests in non ferrous scrap separation system at Whitby plant

Steelmaker Gerdau, one of the largest recyclers in North America, and Danieli Centro Recycling, one of the largest suppliers of equipment to the metal industry, are partnering on a $10 million project to upgrade the non-ferrous scrap separation system at Gerdau’s steel mill in Whitby, Ontario. Planning for the project is currently underway with construction slated to begin in the first half of 2016.

The technology for the new system allows Gerdau to sort and extract non-ferrous scrap metal that is not used in the steelmaking process. The non-ferrous metals, such as aluminum, copper and stainless steel, can be separated from the scrap steel mix and recycled or sold to be used in other manufacturing processes. When the system is fully operational, Gerdau will be able to process more than 40 million pounds of non-ferrous scrap material annually.

The Whitby mill uses ferrous scrap steel from end-of-life vehicles and other sources to be melted and produced into merchant bar quality products and reinforcing steel used in a variety of applications, including major commercial buildings, freeways, bridges, parking garages and other concrete structures throughout North America.

Mr Alan Lamb, vice president and general manager of Gerdau’s Whitby mill, said “We are excited about the capabilities of the separation system and the advantages that it will bring, including reducing our overall environmental footprint. This investment will significantly increase the amount of ferrous and non-ferrous materials we’re able to recover and ultimately recycle, and we feel it provides an opportunity for growth that will allow Gerdau to remain globally competitive."

mr Jake Allen, technical director of Danieli Centro Recycling, added “Our skills in systems integration and proprietary automation along with a well-equipped global supply chain will help our client to meet their requirements for output, quality and schedule. Moving forward, we expect that the project will realize a step change in plant performance for Gerdau’s Whitby mill.”

Source : Strategic Research Institute

Vertraagd	7 feb 2025 17:35
Koers	27,360
Verschil	-0,250 (-0,91%)
Hoog	28,170
Laag	27,180
Volume	7.160.096
Volume gemiddeld	2.536.810
Volume gisteren	11.236.094

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