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voda 9 maart 2016 17:13

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ArcelorMittal to sell 3 more US steel making facilities - Report

Published on Wed, 09 Mar 2016

Scrap Monster reported that ArcelorMittal has decided to sell three of its US steel facilities. The company noted that it is in discussions regarding sale of certain long product mills. It intends to sell LaPlace, Steelton and Vinton facilities. In addition, the company has also decided to permanently shut the Luxembourg Schifflange long products plant.

According to the company, the US operations have already implemented several cost-cutting measures including restricted purchases and revised health care plan for employees. The company is also in efforts to boost performance improvement and implement asset optimization at its steel making facilities. In March last year, it had idled its Indiana Harbor long carbon facility. Also, it had closed its Georgia wire rod facility in August. The company had reported had reported loss of $8 billion during 2015.

The company website states that the Steelton facility has an annual production capability of 1 million mt. The mill operates an electric arc furnace, a three-strand continuous bloom caster and an ingot-teeming facility. It also operates a ladle furnace, a vacuum degasser, a 44-inch breakdown mill, 35-inch/28-inch rail mill and a 20-inch bar mill.

The LaPlace mill has an annual steelmaking capacity of 620,000 mt and annual rolling capacity of 480,000 mt. It produces angles, beams, channel, flats and rebar for light structural shapes and merchant and rebar markets. The facility includes an electric arc furnace, ladle metallurgy station, two four-strand continuous billet casters and a 15-strand Danieli medium section mill.

The Vinton mini-mill has an annual raw steelmaking capability of 320,000 mt. It produces rebar for the commercial and industrial construction industry, grinding balls for the mining industry, and smooth rounds. The facility includes an electric arc furnace, billet caster, rolling mill and bar mill.

Source : Scrap Monster

voda 9 maart 2016 17:15

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ArcelorMittal to invest in Bonab Steel Industry Complex in Iran

Published on Wed, 09 Mar 2016

Financial Tribune reported that ArcelorMittal is going to invest in Iran’s steel industry after the Luxemburg-based giant signed a contract with Bonab Steel Industry Complex, a subsidiary of Iran’s Tourism Financial Group. The contract entails the takeover of the Iranian plant’s management and production operations for five years.

It will provide the Iranian plant with cutting edge production technology and improve steelmaking efficiency, in addition to boosting the company's marketing capabilities by connecting it to ArcelorMittal’s vast steel network, Donya-e-Eqtesad reported.

Mahan Industries and Mines Development Corporation, a subsidiary holding of Tourism Financial Group, has also signed a deal with ArcelorMittal to jointly invest in the exploitation of an iron ore mine in Kerman Province and establish a direct reduced iron production plant as part of the Bonab steel complex agreement.

Bonab Steel Complex, founded in 2005, became one of Iran’s largest private steelmaking companies after a merger with several major hot-rolling and melting companies.

Source : Financial Tribune

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voda 9 maart 2016 17:17

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Hebei Province aims to shut 60 per cent of steel mills by 2020

Reuters reported that governor of China's top steelmaking Hebei Province said that it will aim to shut 60 per cent of its steel mills by 2020, as part of the country's efforts to cut overcapacity. , which has driven prices to their lowest in decades. Governor Mr Zhang Qingwei told reporters at a meeting at China's annual parliament in Beijing that “The province will also keep steel production capacity to within 200 million tonnes by 2020.”

Hebei Province party secretary Mr Zhao Kezhi said “Given current overcapacity, we shall not allow any new projects in sectors suffering from overcapacity. Given current environmental pollution, we shall not allow any new high-energy-consuming, highly polluting projects."

Hebei, which surrounds the capital Beijing, churns out nearly a quarter of China's steel output but it is now bearing the brunt of a campaign to cut the country's dependence on heavy and polluting industrial capacity.

China promised in early February that it would cut crude steel capacity by 100 million to 150 million tonnes within the next five years, as well as ban new steel projects and eliminate so-called zombie mills. Zombie enterprises are stricken firms that can't afford to keep running but are kept artificially alive by local authorities desperate to avoid unemployment and bad debt.

Though the central government has stepped up its efforts to rein in the bloated steel sector, Hebei's pledge to keep capacity within 200 million tonnes is unchanged from one made in 2014 when the province came under pressure to curb hazardous air pollution.

According to the last available official figures, total annual crude steel capacity in Hebei stood at 286 million tonnes by the end of 2013, though the real number was believed to be higher. In 2014 it vowed to close 60 million tonnes of capacity by 2017 and 86 million tonnes by the end of the decade. Hebei's 2015 steel output rose 1.3 per cent to 188.3 million tonnes

Source : Reuters

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voda 9 maart 2016 17:24

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Roy Hill to reach 55 million tonnes of iron ore in 2016

AAP reported that Ms Gina Rinehart’s Roy Hill project expects to be shipping 55 million tonnes of iron ore by the end of the year and says it isn’t bothered by a potential tie-up between Fortescue Metals Group and Vale. Chief executive Barry Fitzgerald said he wasn’t concerned by the prospect of Roy Hill’s product being pushed aside by buyers in favour of a new blended Fortescue/Vale product.

He told “I don’t think so. We see our product as having high quality. We’re not a huge player in the market in terms of tonnes, so from that point of view I don’t see any particular changes in the market.”

Mr Fitzgerald said there were a lot of customers in countries such as South Korea, Japan and China which were looking forward to receiving Roy Hill’s iron ore.

He added that Roy Hill had now shipped several cargoes of ore and the company was pleased that prices had rebounded. However, he expects prices to fall to $US30 to $US50 amid ongoing volatility. He said “It’s an aberration. The consensus is that the future holds some lower points.”

Mr Fitzgerald said Roy Hill expected to reach its 55 million tonnes per year shipping capacity by the end of 2016.

Source : AAP

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voda 9 maart 2016 17:24

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BHPB remains unfazed over iron ore rally

Sydney Morning Herald reported that an extraordinary surge in iron-ore prices has not convinced BHP Billiton to become more optimistic about future growth in demand for iron ore and steel. Speaking after prices for the prime steel ingredient, iron ore, rocketed to a nine-month high on Monday evening, BHP's iron-ore asset president Edgar Basto said he expected iron-ore supply to outpace demand in the near term, which would be likely to ensure prices remained subdued. He told “Supply growth will continue to outpace demand growth over the next few years.”

He said “In the long term, iron-ore contestable demand is forecast to peak in the middle of next decade, in line with China's pig-iron production before declining afterwards due to a peak in steel production and a greater scrap availability.”

BHP believes Chinese steel production will peak about 2025 between 935 million tonnes and 985 million tonnes.

Mr Basto said steel demand for the Chinese construction industry had peaked, but said growth would continue to come from the automotive and other sectors. He said "We believe that while construction steel demand in China might have peaked, manufacturing sectors like machinery, automotive industry and home appliances will maintain a sustainable growth outlook.”

Mr Basto said BHP's iron-ore guidance for the year to June 30 remained under scrutiny following interruptions from cyclones during the early months of 2016. He said "Given wet weather events at the beginning of the year, we continue to monitor progress against our financial year 2016 production guidance of 270 million tonnes per annum with no fixed-plant investment.”

Source : Sydney Morning Herald

voda 10 maart 2016 16:21

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ArcelorMittal akkoord met claimemissie

Gepubliceerd op 10 mrt 2016 om 15:20 | Views: 2.743

LUXEMBURG (AFN) - De aandeelhouders van staalconcern ArcelorMittal hebben donderdag ingestemd met de claimemissie van 3 miljard euro. Om de claimemissie uit te kunnen voeren moest 50 procent van het uitstaande aandelenkapitaal aanwezig dan wel vertegenwoordigd zijn op de vergadering. Bij instemming van minimaal twee derde van de stemmen worden de voorstellen van kracht. Daaraan werd ruimschoots voldaan.

ArcelorMittal maakte de claimemissie begin februari bekend. De aandeelhouders stemden voor het plan om de nominale waarde van de aandelen te verlagen tot 10 cent per aandeel. Die verlaging resulteert in een daling van het uitstaande aandelenkapitaal van circa 7,5 miljard euro naar iets meer dan 180 miljoen euro. Dat bedrag wordt vervolgens aangevuld met de opbrengst van de uitgifte.

voda 10 maart 2016 16:43

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Sabic increases domestic rebar price by about USD 25

Saudi Basic Industries Corporation (Sabic) has raised domestic prices for some categories of steel in response to a rebound in international market prices, a company official told Reuters on Wednesday.

The average price for 8 mm and 10 mm steel rods has risen by SR100 ($26.70) a tonne to SR 1,950, the Maaal financial website reported.

Prices had been in a downtrend for more than a year.

Source : Reuters

voda 10 maart 2016 16:44

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No decision on possible capital increase - Usiminas

Brazilian steelmaker Usiminas said on Wednesday that no decision has been made on a possible capital increase, but confirmed that the theme will be discussed at a board meeting on Friday.

Usiminas shares jumped almost 24 percent on Wednesday after Reuters reported on Tuesday that Japan's Nippon Steel & Sumitomo Metal Corp plans to push hard for a cash injection of 1 billion reais ($271 million).

Source : Reuters

voda 10 maart 2016 16:45

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Iron ore price to rise by INR 500 – Mr RK Goyal MD Kalyani Steels

With the recent rally in domestic steel prices, RK Goyal, MD of Kalyani Steels says that he is hopeful that the minimum import price (MIP) will be extended to other engineered steel products. In an interview with CNBC-TV18, he said that there is no big 'uptick' in steel demand and expects iron ore prices to go up by Rs 500 per tonne, which will be an added burden on the industry.

Below is the transcript of RK Goyal’s interview with Nigel D’souza and Latha Venkatesh on CNBC-TV18.

Latha: We spoke to the steel secretary and she was saying that she has been told that demand is likely to strengthen in the coming months and that steel prices have risen by about 13 percent in the past month. What is the situation on the ground for you? Has demand improved? Have you been able to price your products higher?

Goyal: As far as we are concerned, we are manufacturing engineering steel long products, which are used basically, by auto industry, bearing industry, seamless tube industry, oil and gas. Now, there is no minimum import price (MIP) on our products and we are not able to increase any price. On the contrary, we are finding there is an increase in cost because of increasing prices of iron ore.

Latha: Have you not been able to pass it on to your customers?

Goyal: The impact of that is yet to come, because it has happened in the last few days and as of now, I do not see we will be able to pass it on to our customers.

Nigel: So, have prices dropped considering that you do not attract MIP, the products that you make? And also, secondly, you had last time told us that you are hoping that maybe MIP will be extended to other products as well. Yesterday, the steel secretary told us very clearly that there are no such plans. Were you still hopeful?

Goyal: We understand that it will be reviewed every couple of months. So, we are still hoping that when the next review takes place, our products will also be considered. Latha: Do the domestic e-auction or non-auction prices of iron ore move in tandem with global prices, given the subdued demand in the economy? Will they rise a little less than global prices?

Goyal: Iron ore prices had come down in India also, but not to the extent that the global prices have come down. Now, last couple of days, there is an increase in global prices. And we are expecting a surge in iron ore prices in India.

Nigel: There was an e-auction that takes place in Karnataka periodically. On March 4 last. What reports indicate is that from the base price, the actual bidded price was much higher. So, could you give us some details and did you participate in that particular e-auction that was held on March 4.

Goyal: Yes, we did participate and we had to buy some material at a much higher price. It is basically in anticipation of some increase in base price by various miners including NMDC. We were expecting some more material to come for e-auction from NMDC which is not the come as of now.

Nigel: Could you give us that price? What was the price that you paid for your iron ore supplies and also there are various reports that indicate that maybe prices could go up by around Rs 700-1,000. A few private miners have told me off the record that they have increased prices by around Rs 50-100 just in the last couple of days.

Goyal: That is what we are also hearing. And that is what we are worried that they may increase the price, even though in the global market, it may be very temporary. And we do expect prices to go up something around Rs 500, but there is no support in the sense that manufacturing is not going up. So, to us it is not sustainable, however, people are trying to increase the price in the short-term.

Latha: What is the demand scenario for your products? Is it very tepid? How will the demand situation compared to last quarter, or year ago quarter?

Goyal: Demand is not growing. In fact whatever is the little growth, it is eaten away by cheap dumped material from China and dumping in our space is increasing continuously and they are enjoying their increased market share.

Source : CNBC-TV18

voda 10 maart 2016 16:46

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Egypt to cut price of gas to steel sector - Industry minister

Reuters reported that Egypt will reduce the price it offers natural gas to steel and iron factories to $4.5 per one million thermal units from $7, the minister of industry told a press conference on Wednesday.

Egypt in 2014 slashed its natural gas subsidies to several industries, increasing gas prices by 30-75 percent. It was part of a broad government strategy to cut back subsidies.

Source : Reuters

voda 10 maart 2016 16:46

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Moody's changes Reliance Steel's outlook to stable from negative

Moody's Investors Service changed Reliance Steel & Aluminum Co's outlook to stable from negative. At the same time, Moody's affirmed Reliance's Baa3 senior unsecured rating. The change in outlook reflects the recent improvement in the company's credit metrics and liquidity and the expectation they will remain at a level that is commensurate with its current investment grade rating.

Source : Strategic Research Institute

voda 10 maart 2016 16:48

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Growth of new orders resumes in Turkey in February

The performance of Istanbul's goods-producing sector improved in February, according to PMI survey data from Istanbul Chamber of Industry and Markit. Overall growth of the sector was reflected in higher levels of new orders, output and employment, with the latter rising at the fastest rate since December 2014. New export business rose for the second time in three months. That said, the rates of expansion in total new work and output were modest, and firms cut purchasing activity for the second month running. Moreover, backlogs declined at the joint-fastest rate in nearly seven years. Input price inflation eased since January, but manufacturing output prices rose at the fastest rate in five months. The headline Istanbul Chamber of Industry Istanbul Manufacturing PMI is a composite single-figure indicator of manufacturing performance. It is derived from indicators for new orders, output, employment, suppliers delivery times and stocks of purchases. Any figure greater than 50.0 indicates overall improvement of the sector.

Source : Strategic Research Institute

voda 10 maart 2016 16:48

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EU must not give in to China MES blackmail - MEPs

Julie Levy-Abegnoli is a journalist for the Parliament Magazine recently wrote that The question of whether or not to grant China market economy status (MES) has recently prompted much debate in EU spheres. Last month, thousands of steel workers marched along the streets of Brussels, calling on the European Commission to deny Beijing MES. The controversy stems from the fact that granting China MES would prevent Europe from imposing effective anti-dumping duties on Chinese goods, potentially putting EU jobs and industry at risk.

However, when China joined the World Trade Organisation (WTO) back in 2001, it was tacitly agreed the country would be accede to MES by 11 December 2016. By not complying with the terms of the deal, Europe risk WTO sanctions.

The European Commission has promised to carry out an impact assessment on the topic, and MEPs are engaged in heated discussions to try and find solutions. One thing policymakers all agree on, however, is that China is by no means a market economy.

Tokia Saïfi, a Vice-Chair of Parliament's international trade committee, says, "The situation is clear: China is not a market economy. China does not fulfil the criteria established by the European Union and for that reason I firmly oppose the automatic granting of MES to China."

The French MEP warns that; "Such a decision would have dramatic consequences on businesses and jobs. As we attempt to revive our economy and growth, we must take a stand against any attempted unfair competition."

She therefore urgently calls on policymakers to modernise EU trade defence instruments, "without weakening them - they must become more efficient and more accessible to SMEs."

Saïfi adds that Europe must work with the US and Japan on the issue, and "not give in to blackmail. Rather, it should stand strong and anticipate the potential retaliatory measures the EU could face.
"
Source : The Parliament Magazine

voda 10 maart 2016 16:49

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Steel producer Proinvest Group Pascani investing in new production lines

Steel producer Proinvest Group Pascani has started a greenfield project in 2015 for producing several types of sandwich panels. The investment totals EUR 10 million. The company completed the project’s first stage in February this year, and the first production line has been put into operation following an investment of EUR 3 million. It has a production capacity of 1 million sqm per year.

Starting February 1, the Proinvest Group plant produces five types of sandwich panels.

The company will complete the second stage in 2018, when it will put into operation a new production line.

Proinvest Group is a Romanian company that was founded in 2000. It had sales of EUR 16.5 million in 2014 and estimated a 50% increase in turnover in 2015.

The company has been delivering panels for Kaufland and Dedeman stores and for Continental and Schweighofer factories.

Source : Romania Insider

voda 10 maart 2016 16:50

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Algerian Cevital and Vale to sign Pará steel complex protocol

BNAmericas reported that Brazilian iron ore mining giant Vale and Algeria-based Cevital were due to sign a protocol of intent on Friday with Brazil's Pará state as part of the latter's efforts to build a steel complex in the city of Marabá, the state's official news agency Agência Pará reported.

Pará, in northern Brazil, is the second largest iron ore producing state in the country after Minas Gerais.

The move follows Cevital's announcement last October about its investment intentions in agribusiness, steelmaking and logistics in Pará.

At the time, Cevital president Issad Rebrab announced the decommissioning of a steel unit in Piombino, Italy, which will be transferred to the Brazilian state. Construction on Cevital's plant and ports in Brazil is due to begin in two years, the company said at the time.

Many of Vale's major projects and operations are in Pará, including the Carajás S11D (Serra Sul) iron ore project in the southern area of the state and the Carajás mining complex.

Cevital is the largest private conglomerate in Algeria, with interests in agribusiness, retail, industry and services.

Source : BNAmericas

voda 10 maart 2016 16:59

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ArcelorMittal South Africa selects Mr Wim de Klerk as new CEO

Mineweb.com reported that Mr Wim de Klerk will become ArcelorMittal South Africa’s CEO from the September 1 following the conclusion of an “extensive” search for a permanent replacement for Paul O’Flaherty.

De Klerk is currently the financial director of Exxaro Resources, a position he has held since 2008. He will continue in this role until the end of August to assist with the handover of responsibilities to Mxolisi Mgojo, who succeeds Sipho Nkosi as CEO.

AMSA Chairman Mpho Makwana, told Mineweb that the search comprised looking at candidates from around the world as due to the global nature of ArcelorMittal’s business. The eventual shortlist comprised four South Africans. “Mr De Klerk prevailed in that he understood exactly where our strategy was at, and we felt he would fit hand-in-glove where we are with the strategic path we have adopted.”

Source : Mineweb.com

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voda 10 maart 2016 16:59

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Japanese steelmakers finalizing wage hike offer

Nikkei reported that Japan's leading steel producers are putting the finishing touches on a wage increase proposal expected to top what was agreed on two years ago. Unlike most Japanese industries, the steel sector's wage negotiations cover a two-year period, requiring steelmakers to hold wage talks once every two years. In Japan, such discussions are held in the spring.

The four leading blast-furnace steelmakers, Nippon Steel & Sumitomo Metal, JFE Steel, Kobe Steel and Nisshin Steel, are looking to offer a 2,500 yen ($22) raise in monthly wages for the fiscal 2016-17 period. The amount is 500 yen higher than the agreement covering the fiscal 2014-15 period.

The companies have been hit by a global steel market slump stemming from large-scale "dumping" by Chinese mills, or cut-price sales of excess inventories. But they have decided on a better offer than last time in an attempt to prevent wage gaps with other industries from widening.

The tradition has been for leading steelmakers to present a united wage offer to their respective labor unions. While their earnings vary, the quartet is working toward keeping the tradition. However, how they divide up the 2,500 yen hike between the first and second years will be left up to each company.

Workers at the four steelmakers are calling for a 4,000 yen boost for fiscal 2016 and fiscal 2017. In reality, their focus is on securing a 3,000 yen hike for the two-year period. During the previous round of negotiations for fiscal 2014 and fiscal 2015, labor unions sought a 3,500 yen raise for each of the two years, but settled for a 2,000 increase for the two-year span.

Source : Nikkei

voda 10 maart 2016 17:00

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Hyundai Steel plant in Mexico to start operation this month

Yonhap reported that Hyundai Steel Co, the steelmaking unit of Hyundai Motor Group, will start operating a plant in Mexico this month that will churn out steel necessary to manufacturing vehicles, the company said Wednesday.

The construction of the plant, located in Monterrey, northeast Mexico, will be completed within this month and it will also start to produce cold-rolled steel plates for automobiles after a test operation, according to the company.

The plant is designed to meet the growing demand from automakers including Kia Motors Corp., the largest shareholder of the steel company. Kia Motors, an affiliate of Hyundai Motor Co, runs its production lines in Mexico.

The plant aims to supply Kia Motors with enough cold-rolled steel plates to produce 400,000 cars annually. Hyundai Steel said that it spent US$44 million to construct the facility.

Construction of similar facilities are also underway in Chongqing and Tianjin of China, which are expected to be completed later this year and in the first half of next year, respectively, the company said.

Source : Yonap

voda 10 maart 2016 17:01

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NINL to hike pig iron prices

Business Standard reported that MMTC promoted Neelachal Ispat Nigam Ltd is readying to hike prices of pig iron in the range of Rs 300-500 a tonne on the back of a record spike in global iron ore prices by 17 per cent.

Mr Ved Prakash, chairman cum managing director of MMTC and chairman, NINL said, "We are going for an upward revision of pig iron ore prices. The price hike could be from Rs 300-500 per tonne over the current price of Rs 17,300 a tonne. But, we have to be a little cautious and watch the market trends to know if this uptrend in iron ore prices continues."

He said, a sustained hike in iron ore prices could also revive the export market for pig iron. He said "We can get price realisations in pig iron from our export markets in South East Asia, Indonesia and Thailand if the iron ore prices retain their present momentum.”

MMTC has been struggling to find takers in the international market for pig iron amid tepid demand. Pig iron produced by NINL has established its acceptance in domestic as well as in international markets because of its high quality. The NINL plant at Kalinganagar in Jajpur district has a production capacity of 855,000 tonne of pig iron per annum.

NINL, in which MMTC holds 49.9 per cent stake, is the largest producer and exporter of saleable pig iron in the country.

Source : Business Standard

voda 10 maart 2016 17:02

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Tangshan steel industry striving to tackle overcapacity - Report

Xinhua reported sagging demand has already impacted China's steel industry. The State Council, China's Cabinet, announced earlier last month that crude steel production capacity will be slashed by 100 million tonnes to 150 million tonnes over the next five years. The situation is so severe that the government predicts some 500,000 workers in the industry will be laid off.

In Tangshan Songting Iron & Steel Co Ltd (TSIS), one of the country's biggest steel makers in northern Hebei Province, six huge blast furnaces sit deserted, with only a few workers looking after the quiet factories. The company halted production in November last year, with more than 6,000 workers forced to stay idle. According to the Futures Daily, TSIS reported 474 million yuan (73 million U.S. dollars) in losses in the first nine months of 2015. The company failed to pay 97 million yuan in electric bills, according to an article in the National Business Daily.

In Hebei's Tangshan City, the heartland of China's steel production, 14 out of 32 local steel makers reported a debt to assets ratio of at least 70 percent, according to a survey by the Tangshan Steel Association in late 2015, higher than the national average of 69.32 percent. Mr Zhang Pin, a researcher with the Tangsong Steel Economic Research Institute, said “A lot of steel makers will be wiped out of the market once their capital chains are broken.”

In Tangshan, where local authorities relied on the steel industry to bolster economic growth, steel production increased to 105 million tonnes in 2014 from 59 million tonnes in 2008. Tangshan is home to China's biggest steel production base.

The boost to economic growth has driven many enterprises in the city to jump on the steel bandwagon, with scores of blast furnaces constructed. In 2012 alone, 18 new furnaces were built, contributing to 23.3 million tonnes of added capacity, according to the China Iron and Steel Association

Source : Xinhua

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