Eurobench.com

voda 15 februari 2016 16:59

0

Indian steel sector hopeful of revival on MIP – Mr Sajan Jindal

PTI reported that JSW Steel CMD Mr Sajjan Jindal said that Indian steel industry has pinned its hope on the minimum import price announced recently and expects more relief measures in the budget. He said that “The steel sector is hopeful that the country’s economy should grow by 8-8.5 per cent, which would help the industry to revive.”

He told “We have pinned our hopes on the MIP, which has recently been announced by the government. We have to wait and watch if it is enough for the steel industry, which is in a bad shape today, to sustain. In case MIP doesn’t work out well for the industry, then the government would have to adopt more measures for the industry.”

Talking about the forthcoming Budget, Mr Jindal said, “It should be a growth-oriented Budget. It has to look at micro factors and ensure how it would be possible to increase country’s GDP from existing level of 7-7.5 per cent to 8-8.5 per cent in future.”

Source : PTI

voda 15 februari 2016 17:00

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China urges EU to strictly follow WTO rules on AD investigations

Xinhua reported that a China’s Ministry of Commerce official on Sunday said that he expected the European Commission to strictly follow the World Trade Organization rules on its anti-dumping investigation into Chinese steel exports.

The MOC official said the EC should be prudent, restrained and lawful in employing trade remedy instruments.

On February 13, the EC said in a notice that it would investigate steel imports including seamless tubes and launch provisional anti-dumping measures on cold-rolled flat steel products originating from China.

Source : China Daily

voda 15 februari 2016 17:01

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Chinese steel industry needs market exit mechanism to cut overcapacity - CISA

China Daily reported that China Iron and Steel Association said that a market exit mechanism must be put in place as the steel industry strives to cut excess capacity. CISA said “Though some enterprises have either cut or stopped production, the absence of an exit mechanism has prevented them from withdrawing from the market completely.”

It added “Some have become zombie enterprises due to a lack of funding, but are still there.”

CISA alo said “Some local governments still request those enterprises to maintain production to ensure social stability and local economic growth.”

China will cut crude steel production capacity by 100 to 150 million tons in five years, the State Council said last week.

Source : China Daily

Bijlage:

wins 15 februari 2016 18:03

1

nos.nl/artikel/2087114-staalarbeiders...

voda 15 februari 2016 19:26

0

quote:
voda schreef op 15 februari 2016 16:54:
Ooooohhhhh, NO!!!!!

9 shortlisted for stage 2 of sale of ILVA in Italy

Published on Mon, 15 Feb 2016

Reuters reported that 9 firms were admitted to the second phase of the bidding process for ILVA on Thursday and the selection of the companies and consortia considered to be serious contenders for Ilvawas to be continued on Friday. On Wednesday Ilva had said it had received a total of 29 expressions of interest without naming any of the parties.

The firms reported to have made to second stage include
ArcelorMittal
Brazil's Cia Siderugica Nacional
America's ERP Compliant Fuels
Italy's state holding company Cassa Depositi e Prestiti
Marcegaglia
Eusider
Amenduni
Switzerland's Trasteel
Germany's Arvedi

The government took over administration of the loss-making Ilva business last year to try to save some 16,000 jobs and clean up its polluting factories in the southern Italian city of Taranto. With the EU opening an investigation into possible illegal state aid at steel producer, Rome has put the company up for sale, hoping to wrap up a deal by June 30.

Ilva was put under court administration in 2013 after magistrates seized 8.1 billion euros ($9.21 billion) of assets belonging to the owners, the Riva family, amid allegations that toxic emissions were causing abnormally high rates of cancer.

Source : Reuters

Jammer dat hier geen reactie op gekomen is.

Laksmi zal het toch niet in zijn hoofd halen om deze giga vervuiling centrale te willen kopen? Zeker niet met alle cash problemen, aandelen emissie etc. ?

Wie weet wat er in zijn hoofd omgaat, en bij GS in de porto?

Smerig zaakje, hoe dan ook!!

[verwijderd] 16 februari 2016 00:57

0

Denk eerder dat AC wacht tot ILVA echt kapot is en dan biedt op de eventuele bruikbare restanten van het bedrijf .
Nu bieden op ILVA zou de geloofwaardigheid van AC enorm doen afnemen om de poet van de
Claimemissie goed aan te wenden. Moet uiteraard schuldreductie zijn en geen risicovolle overnames.

Grotere institutionele beleggers zouden afhaken en zich niet
Meet willen comiteren aan de claimemissie. En terecht.
Is een risico dat GS idd op voorspraak van de slissende adviseurs van GS nooit zou durven nemen..

[verwijderd] 16 februari 2016 01:00

0

Denk eerder dat AC wacht tot ILVA echt kapot is en dan biedt op de eventuele bruikbare restanten van het bedrijf .
Nu bieden op ILVA zou de geloofwaardigheid van AC enorm doen afnemen om de poet van de
Claimemissie goed aan te wenden. Moet uiteraard schuldreductie zijn en geen risicovolle overnames. Zeker in de huidige grondstoffenmarkt, die onevenredig laag afgeprijsd is op dit moment..

Grotere institutionele beleggers zouden afhaken en zich niet
meer willen comiteren aan de claimemissie. En terecht.
Is een risico dat AC idd op voorspraak van de slissende adviseurs van GS nooit zou durven nemen..

[verwijderd] 16 februari 2016 01:49

0

quote:
voda schreef op 15 februari 2016 16:54:
Ooooohhhhh, NO!!!!!

9 shortlisted for stage 2 of sale of ILVA in Italy

Published on Mon, 15 Feb 2016

Reuters reported that 9 firms were admitted to the second phase of the bidding process for ILVA on Thursday and the selection of the companies and consortia considered to be serious contenders for Ilvawas to be continued on Friday. On Wednesday Ilva had said it had received a total of 29 expressions of interest without naming any of the parties.

The firms reported to have made to second stage include
ArcelorMittal
Brazil's Cia Siderugica Nacional
America's ERP Compliant Fuels
Italy's state holding company Cassa Depositi e Prestiti
Marcegaglia
Eusider
Amenduni
Switzerland's Trasteel
Germany's Arvedi

The government took over administration of the loss-making Ilva business last year to try to save some 16,000 jobs and clean up its polluting factories in the southern Italian city of Taranto. With the EU opening an investigation into possible illegal state aid at steel producer, Rome has put the company up for sale, hoping to wrap up a deal by June 30.

Ilva was put under court administration in 2013 after magistrates seized 8.1 billion euros ($9.21 billion) of assets belonging to the owners, the Riva family, amid allegations that toxic emissions were causing abnormally high rates of cancer.

Source : Reuters

Hoi voda, op het andere draadje heb ik een reactie gegeven.
Ik verwees daarbij naar de frapante overeenkomst tussen de schuldpositie van ILVA (3 miljard euro) en de omvang van de claim-emissie bij Arcelor (3 miljard US $).

De informatie over die schuldpositie van ILVA haalde ik uit een artikel van 11 februari 2016 ;
"A court this year declared ILVA insolvent, with debt totalling nearly three billion euros."

bron : www.ansa.it/english/news/2016/02/10/i... .

Greetzzz

voda 16 februari 2016 17:11

0

Het moet toch niet gekker worden! :-)

Toyota resumes production after steel shortage

Reuters reported that Toyota Motor Corp resumed production at its vehicle assembly plants in Japan on Monday following a one week stoppage after an explosion at an affiliate's steel plant resulted in a steel shortage.

The world's biggest-selling automaker on Monday confirmed that its four directly owned, domestic assembly plants had come back online after production had been suspended on Feb. 8-13, following a blast at an Aichi Steel Corp plant in January.

Production at all other Toyota plants affected by the shortage had also resumed, the company said.

Toyota produced around 13,600 vehicles a day in Japan in December, up 10 percent from a year earlier, due in part to the start of production of the latest Prius petrol hybrid.

Source : Reuters

voda 16 februari 2016 17:12

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Kobe Steel and Millcon Steel JV deal opens new era for steel in Thailand

Bangkok Post reported that Millcon Steel Pic of Thailand is gearing up to tap the regional market after forming a JV with Kobe Steel to create Kobelco Millcon Steel, based on their earlier memorandum of understanding signed in June 2015, to produce steel wire rods in Thailand.

The 50:50 joint venture will involve executives of Kobe Steel coming to Thailand to share their expertise in improving quality and products. Kobelco Millcon Steel will have a capacity of 480,000 tonnes per year, most of which, will meet steadily rising demand for special-grade steel used in automotive production processes

Kobelco Millcon Steel will cater to the rising demand for special steel products required in the automotive industry, for which Thailand has become a base for production and export across the region.

Automobile production in Thailand reached 1.91 million units in 2015, according to the Federation of Thai Industries, and is expected to grow steadily in the coming years. Other Asean countries such as Indonesia and Malaysia are also expected to experience strong growth in automobile output.

Source : Bangkok Post

voda 16 februari 2016 17:13

0

JSW Steel eying distressed port assets – CFO

Reuters reported that JSW Group is looking to buy distressed port assets in the country as part of a strategy for a massive expansion of its ports capacity. CFO Mr Seshagiri Rao told Reuters in a recent interview that “We are going for inorganic growth as there are assets that is available and that makes more sense today and at the same rates or rates much lower than that of organic growth.

Mr Rao told “The company plans to increase that more than six-fold to 200 million tonnes by 2020.

JSW Infrastructure, the group's unlisted ports unit, currently has a port capacity of 33 million tonnes spread across three ports on the western coast of India.

The acquisition push comes as many of JSW's domestic peers in a heavily leveraged industry look to sell assets to pay off debt racked up in recent years, before India's economy began to cool. Having borrowed heavily to expand its steel and power arms, JSW was named by Credit Suisse last year as one of India's 10 most indebted groups, with debt pile equal to USD 8.6 billion in the fiscal year ended last March.

Source : Reuters

voda 16 februari 2016 17:14

0

Brussels Steel March – Czech steel makers join demonstration

CTK reported that several thousand steelmakers from the whole of the European Union including about 100 representatives of three Czech companies staged a protest in Brussels against easier access to the European market for China’s steel. The demonstrators said granting a market economy status to China would endanger the European steel industry. The demonstration, held in the centre of Brussels, had been called by the industrial association AEGIS Europe.

Vilem Kubiena from Vitkovice Steel told CTK and public Czech Radio that “We want to call on the policymakers and MEPs to prevent China from entering a free European market and liquidating jobs in Europe by means of its prices.

Tapas Rajderkar, CEO and board chairman of ArcelorMittal Ostrava, said the steelmakers want the European Commission to take a just approach. He said Granting the market economy status to China will make it impossible to use effective anti-dumping measures. They are selling below costs and we will not be competitive.”

Trinecke zelezarny CEO Jan Czudek said “It is a subsidised economy, loans are subsidised and companies are owned by the state. It is hard to compete with that, he said, adding that firms have been forced to sell at prices that are approaching those of Chinese competitors.”

Around 15,000 people work at the three steel companies in northern Moravia (Vitkovice Steel, ArcelorMittal Ostrava and TZ), with another about 50,000 related jobs at other firms.

Source : CTK

Bijlage:

voda 16 februari 2016 17:17

0

Steelmakers and union challenge Mexico's renewable energy obligations

BNAmericas reported that Altos Hornos de México (Ahmsa) and DeAcero have launched amparos, or legal challenges, against the country's energy transition law, which requires a sharp rise in electricity generated from renewable sources. The law, approved in December, requires 25% of electricity to come from renewable sources by 2018, rising to 60% by 2050.

The CTM union also plans to launch its own legal challenge, the report said, citing Tereso Medina, secretary general of the Coahuila state branch.

Mexico's steel chamber Canacero has criticized the law, which it says will lead to higher energy prices and substantial fines for companies unable to meet the obligations, rendering Mexican steelmakers unable to compete against producers in countries such as the US and China.

Source : BNAmericas

voda 16 februari 2016 17:17

0

Steel demand in Saudi Arabia drops by 10-15%

Saudi Arabi has witnessed a 10-15% decline in steel demand as builders await the rise in real estate prices with the new White Land Tax, the “Iqtisadieh” Saudi Daily reported. According to the report, 1.8million tonnes is the country's stockpile of steel which has prompted 50% of manufacturers to lower or stop production lines.

The daily said that steel imports represented 7% of demand in the Kingdom, which in 2015 was an 8.6% increase on 2014, but added local producers complain of flooding the market with prices far below those of locally produced steel.

It pointed to manufacturers’ need to increase exports, reduce stocks, increase sales and maintain a profitable balance sheet.

The daily quoted insiders saying that unlicensed factories in Saudi are producing nearly a million tonnes of steel and selling at prices up from $20 (SAR75) to $40 (SAR150) less than licensed factories.

Saudi’s steel production capacity reaches 9 million tonnes annually.

Source : constructionweekonline.com

voda 16 februari 2016 17:18

0

Usiminas hires Credit Suisse as advisor for Usiminas Mecanica sale

Bloomberg reported that Brazilian steelmaker Usinas Siderurgicas de Minas Gerais SA hired Credit Suisse SA as a financial adviser to help explore the potential sale of all or part of its manufacturing subsidiary.

Usiminas, which hired Credit Suisse Nov. 26, has yet to make a final decision on the potential sale, the company said in a statement Monday. Its manufacturing unit is called Usiminas Mecanica.

Brazil’s steel industry is reeling as customers in the automotive and construction sectors retrench amid a domestic recession. Slowing economic growth in China, the world’s biggest metals consumer, is fueling a selloff in everything from iron ore to copper.

Concern over finances at Brazil’s three largest steelmakers, Cia. Siderurgica Nacional SA, Gerdau SA and Usiminas, has triggered a plunge in their bonds. Usiminas bonds due for repayment in 2018 were trading at 29.5 cents on the dollar on Monday.

Source : Bloomberg

voda 16 februari 2016 17:19

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Nippon Steel & Sumitomo Metals sees Usiminas accord necessary for capital plan – Report

Reuters reported that Nippon Steel & Sumitomo Metal Corp would be willing to participate in a capital increase for ailing Brazilian steelmaker Usinas Siderúrgicas de Minas Gerais SA if an understanding with other shareholders were reached in principle. A source with direct knowledge of the matter said that an accord between Nippon Steel and Techint Group, the other controlling shareholder of the steelmaker known as Usiminas for a capital injection may not happen before Usiminas releases fourth-quarter results on Thursday.

Reuters reported on Friday that Usiminas is in talks with four major banks to refinance about 4 billion reais ($1 billion) in loans maturing in the next two years. Sources said that Itaú Unibanco Holding SA, Banco Bradesco SA, Banco Santander Brasil SA and Banco do Brasil SA demand the company be capitalized prior to any debt relief plan.

However, a rift between Nippon Steel and Techint is making it tougher for Usiminas to raise new capital. The company promised to send a response to lenders on Feb. 17, a day before Usiminas is scheduled to report quarterly results.

Techint is unlikely to inject additional money into Usiminas without other shareholders' agreement. If Techint refused to participate in a capital injection, Nippon Steel could pay for it all alone - a move that could dilute Techint, Reuters reported last week.

At stake is the survival of Usiminas, founded 53 years ago to supply flat steel products to Brazil's auto and home appliance industries located in the state of Minas Gerais. The state government is considering extending tax relief and an emergency credit line to Usiminas, O Tempo newspaper reported.

Source : Reuters

voda 16 februari 2016 17:19

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EU steelmakers should be rational about overcapacity issue – Mr Xu Hongcai

Global Times reported that a Chinese expert said that China's steel exports are strictly in line with the international trade rules, and European steel industry representatives should be more rational when tackling the overcapacity issue. The comment came after thousands of European steelmakers descended on the EU capital Brussels on Monday demanding that officials do more to stop the flood of cheap imports from China.

Mr Xu Hongcai, director of the Economic Research Department of the China Center for International Economic Exchanges, told the Global Times that “As labor costs in China are still lower than in the EU, it makes domestic steel products cheaper.”

Mr Xu noted that the low price of Chinese steel products does not necessarily mean that the central government is using tariffs or subsidies to protect the domestic steel industry.

He said "While facing the overcapacity issue, industry representatives in the EU should calm down instead of blaming China.”

China joined the World Trade Organization (WTO) in 2001 as a developing country with an economy run largely by the State but was promised a review within 15 years to win a change in status to put it on a par with its major trading partners. Without market economy status, the WTO's 162 member countries are much freer to slap anti-dumping measures on cheap Chinese products.

Source : Global Times

voda 16 februari 2016 17:20

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19 bids for ILVA admitted to due diligence phase - Report

ANSA reported that 19 bids for troubled steelmaker ILVA were admitted to the due diligence phase and 10 bids were rejected. There had been, in fact, 29 expressions of interest in purchasing ILVA assets and affiliates.

Extraordinary commissioners managing ILVA as the firm undergoes a massive environmental cleanup and financial turnaround project assessed the offers.

A court this year declared ILVA insolvent, with debt totalling nearly three billion euros.

Source : ANSA

voda 16 februari 2016 17:22

0

Failed Arcelor bid now looks a Win for Mr Mordashov

Bloomberg recently reported that Rusaain billionaire Mr Alexey Mordashov considered it the ultimate disappointment when he lost his bid to buy Arcelor SA a decade ago, allowing fellow tycoon Lakshmi Mittal to create a giant controlling about a 10th of the global steel market. But with steel prices at the lowest since 2003, it’s looking more like good luck. Mr Mordashov’s Severstal PJSC, the fourth-largest Russian steel producer, is valued at about $7 billion. That’s now more than ArcelorMittal SA, which is the biggest and makes eight times more of the material.

Mr Mordashov said in an interview in Moscow recently that “Life is an amazing thing. It’s hard to say now what would have happened to both companies if the merger had succeeded and we’d carried out our plans to optimize production.”

He told “The turmoil in commodities may last for a while yet, and there will probably be a wave of bankruptcies for unprofitable steel and iron ore producers. The current situation may be the new normal,”

He added “Structural changes in the steel market may also be coming, as a jump in Chinese scrap output in the next 15 years or less would shift the bulk of production to electric-arc furnaces from blast furnaces now.”

Luxembourg-based Arcelor’s shareholders rejected Mordashov’s offer in 2006 for 30 percent of the company. That allowed Mittal to complete a more than USD 30 billion takeover.

Source : Bloomberg

Bijlage:

voda 16 februari 2016 17:23

0

Brussels Steel March – Bosses join UK steelworkers for passionate demonstration

Company bosses joined thousands of steelworkers in a passionate demonstration in Brussels calling for urgent action to help their crisis-hit industry. Hundreds of workers from the UK were among those pressing for the European Commission to tackle cheap Chinese steel being “dumped” across Europe.

M rKarl Koehler, chief executive of Tata Steel’s European operations, marched alongside 500 workers from his company’s plants in the UK, including Port Talbot in south Wales where hundreds of jobs are being axed. He said “I was proud to experience the passionate spirit of our colleagues during the protest. Together with our peers in the steel industry, we told European leaders loud and clear to stop the tide of unfairly-traded material that threatens our jobs, our industry and our future. The European steel industry is in a fierce fight for its future. Huge global overcapacity and unfair trade practices – mainly by China and Russia – have pushed steel prices to historically low levels. The dumping of steel below its cost of production will continue as long as our regional, national and European leaders fail to introduce trade defence protections quickly and effectively. Measures so far have been slow and half-hearted.”

Mr Roy Rickhuss, general secretary of Community union, said: “We have to make governments in the UK and across Europe understand the human cost of not taking action to create the chance of a sustainable future for our steel industry. Today, steelworkers and their employers were united in their plea for more swift and robust measures to stop unfairly traded steel and a level playing field to compete in a global market. Delays in heeding our warnings and acting to end Europe’s steel crisis will only leave thousands more jobs under threat and put the future of a vital, strategic industry at risk, with devastating consequences for steel communities around Europe.”

Mr Geert Van Poelvoorde, president of the European steel association Eurofer, said: “We have seen a surge of steel imports, a rise of over 100%, from China into the EU over the past three years. Imports are coming into Europe at price levels below the cost of production; this is what is known as ‘dumping’. The EU has trade defence instruments to respond to this type of behaviour, but they have been incredibly slow to utilise trade tariffs. An urgent adaptation of trade legislation is required. Since the financial crisis, 85,000 jobs have been lost in the European steel industry; in the past six months alone, 7,000 jobs have gone. Without utilising the trade defence instruments available to us in a timely manner, there is a substantial risk that we will see more plant closures and job losses.”

Business Minister Anna Soubry said: “We are taking action on energy costs, public procurement and industrial emissions at home to help the steel sector, but this is a global problem requiring a global solution. We are working with other EU governments, industry leaders and trade unions to stress to the European Commission the need for swifter investigations into dumping and the tariffs then being set at the right level.”

GMB national officer Dave Hulse said: “The European Commission has done next to nothing to save steel jobs.”

Source : Business Reporter

Bijlage:

Vertraagd	10 feb 2025 17:39
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Hoog	27,230
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