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voda 14 juni 2016 17:04

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Chinese crude steel output in May again crosses 70 million tonne mark

According to latest data released by Chia’s National Bureau of Statistics, China's steel production continued to rise in May. Crude steel output stood at 70.5 million tonnes in May, up 1.8 % YoY and up 1.5%MoM and just below March’s record 70.65 million tonnes. NBS said “The production rebound is partly due to recent increases of the steel price, which spurred many plants to increase production.”

Source : Strategic Research Institute

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voda 14 juni 2016 17:05

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Steel makers in Kashmir decry discrimination with Jammu mills

discrimination, the Jammu and Kashmir government has barred power sanction to industrial units engaged in operation of induction furnace in Kashmir, while in Jammu 15 such units are being provided electricity by the PDD.

The government has “banned” power sanction to steel manufacturing units with induction furnace used to convert scrap into ingots for manufacturing of steel.
As per the official documents the ban was imposed in 1995 when only 4 units with induction furnace were operating in Jammu. Currently there are 15 units with induction furnaces operating in Jammu region alone, documents show.

An industrialist said that government is discriminating against Kashmir-based units. He said “The question remains how the units in Jammu were given permission while in Kashmir there are only two steel manufacturing units and those are operating without induction furnace as they are being denied power sanction for induction furnace.”

He added that despite clearance by the chief engineer PDD for operation of induction furnaces, the higher ups in the department are acting as saboteurs. He said “This is being done to compel Kashmir-based units to move to commission furnaces for conversion of scrap into finished steel.”

The entrepreneur said the government by passing 1995 order has given absolute power to PDD to dictate terms to the young entrepreneurs of the state. He said “This order has also paved way for corruption in the department. The regional discrimination will definitely lead to lopsided development which is not in any case a good sign for a state like JK.”

In this regard an official missive by Chief Engineer PDD reads “The department has no objection if the unit holder/s is allowed to run the induction furnace, if approved by the competent authority, as per rules and regulations in vogue and appropriate change in the agreement. Technically there is no adverse effect on the distribution network, if the unit is judiciously designed to overcome the problem of low system power factor. There are more than 1100 induction furnace based steel mills operating in India and bulk of structural quality mid steel is manufactured by induction furnaces. In view of the forgoing, the relevant government order which bars power sanction to industrial units engaged in iron/steel manufacture through electric induction/arc furnace from 3-3-2010 needs to be revisited. The coming up of such units would mean melting of scrap waste, iron rod into finished goods making them cheaper for people in Kashmir as 80 percent iron is being supplied by the Jammu based units.”

Meanwhile, the unit holders urged the Chief Minister, Mehbooba Mufti and Deputy Chief Minister, Nirmal Singh to look into the issue as otherwise the Rs 250 crore investment in steel mills in Kashmir will be jeopardized.

Source : greaterkashmir.com

voda 14 juni 2016 17:07

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Daimler experts positively assess the quality of MMK’s automotive sheet

OJSC Magnitogorsk Iron and Steel Works announced that representatives of DAIMLER KAMAZ RUS (DK RUS) have completed their first technical audit of MMK’s metal products in Magnitogorsk. During the audit, the German specialists reviewed MMK’s production processes and the specifications of the Company’s metal, primarily at its cold-rolling, hot-dip galvanizing and pickling facilities.

Source : Strategic Research Institute

voda 14 juni 2016 17:07

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Judge approves US Steel Canada request for proof of property claims

Hamilton Spectator reported that US Steel Canada won a decision requiring its American parent company to prove its claims to steel grades and processes it says it owns. One lawyer called it a victory for workers and others who want to see Stelco return to full production. That property includes everything from the recipe for some types of steel, production processes and even certain grades themselves. US Steel has claimed it owns the rights to all that property, but has refused to provide Stelco or its creditor protection monitor with an itemized list.

Lawyer Andrew Hatnay said outside court the decision will help potential bidders for the former Stelco by giving them certainty about the capability of the company. He said "This will bring some certainty to the process by answering some questions that have been hanging over the sales process for some time. Bidders need to know what they are buying."

In legal documents and arguments supporting its request, USSC said without assured access to auto grade steel and processes the effort to sell Stelco to a buyer willing to restart steelmaking in Hamilton would be hobbled. That, in turn, could lead to a liquidation of the company and the wind-up of its seriously underfunded pension plans. This would leave 20,000 area retirees facing heavy cuts in their pensions.

Under the process approved Monday, US Steel will be required to submit its claims to a review process by USSC and its court-appointed monitor. Any claims that can't be resolved through that process will be taken back to Justice Herman Wilton-Siegel for a decision.

Source : Hamilton Spectator

voda 14 juni 2016 17:09

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Metalloinvest supplies rolled steel for bridge over the Kama River

Ural Steel (part of Metalloinvest) has supplied over 95% of all rolled steel used for the construction of a new bridge over the Kama River. The bridge, which is over 1 km long, will become part of the highway Izhevsk-Sarapul-Kambarka. The opening of the bridge is planned for autumn 2016, and the bridge will be in use by technical transport from June. The bridge construction elements are produced by Tyumenstalmost LLC.

Source : Strategic Research Institute

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voda 14 juni 2016 17:14

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Chinese ship breaking industry swimming through troubled waters

China Daily reported that China's ship-breaking industry is feeling hemmed in by low steel prices, scrap oversupply and green production methods. In 2014, the ship recycling industry was grey; it turned black in 2015; but, this year, it will go blood red. That's not a dramatic line from a Hollywood take on some imminent industrial tragedy. It's the writing on the wall that workers of Zhoushan's ship-breaking yards in East China's Zhejiang province cannot escape but notice.

The room for profit will continue to be squeezed this year by declining steel prices and the high cost of environment-friendly ship-breaking methods. Yet, pain will come despite favorable policies of the past three years to encourage higher ship-breaking in response to overcapacity and sluggish global trade.

The ship-breaking industry supplies raw materials to infrastructure projects in a number of sectors such as hydropower, housing, bridge and railway construction, particularly in developing countries. The process starts when scrap-yard owners buy ships from owners.

To help China's shipping companies reduce the pressure caused by overcapacity over the past four years, the central government issued a subsidy policy to encourage the nation's shipping companies to reduce the number of aging vessels and replace them with technically advanced vessels in 2013. Owing to complex global market conditions that continued to pose challenges to domestic shipping, shipbuilding and ship-breaking companies, this policy had been extended in June last year till Dec 31, 2017. China, therefore, will keep offering cash subsidies of 1,500 yuan per gross metric ton to shipping companies that scrap their vessels before their operational expiry dates.

Ship owners such as China COSCO Shipping Co or Sinotrans & CSC Holdings Co are entitled to receive 50 percent of the cash subsidies upon scrapping their vessels and the other 50 percent when a new replacement vessel is built. The owners of all aging ships scrapped between 2013 and 2017 qualify for subsidies.

Compared with China, other major ship-breaking countries such as Turkey, India and Bangladesh are still relying on manual methods and outdated equipment to dismantle ships. Many scrap vessels are even dismantled on beaches.

Source : China Daily

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voda 14 juni 2016 17:16

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Steel supply glut a global problem – Chinese Premier Mr Li

AP reported that China recognizes European concerns about overcapacity in its steel sector, but believes that is a symptom of the falloff in global demand. Chinese Premier Mr Li Keqiang while speaking to visiting German Chancellor Ms Angela Merkel, appeared eager to counter criticisms that a glut of Chinese steel exports is overwhelming producers in overseas markets including Germany, Britain and the United States.

He said “We don't deny that there are many difficulties between Germany and China, for instance, the wide concern over China's steel overcapacity. But steel overcapacity is a problem of the world not only China. The world's market is decreasing.''

It wasn't known if Li made any specific commitments in his talks with Merkel, which came amid concerns over trade and the ability of German firms and foreign non-governmental organizations to operate in China.

In talks with the US earlier this month, China promised to rein in steel production, among the bloated industries Washington and other trading partners complain are dumping exports too cheaply, hurting foreign competitors and threatening jobs. China's government announced plans this year to shrink state-owned steel and coal producers at a cost of millions of jobs. However, that project will take time, and the flood of low-cost steel has prompted protests by European steelworkers and was cited by Tata in its decision to sell its money-losing British operations that employ 20,000 people.

Despite plans for a 10 percent overall reduction in steel production over the coming years, China's output actually grew by 1.8 percent last month to 70.5 million tons against the same period last year, the National Bureau of Statistics reported today. Bureau spokesman Sheng Laiyun said producers had been motivated by an increase in the wholesale price, even though total production dropped in the first five months of the year by 1.4 percent.

Source : AP

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voda 14 juni 2016 18:33

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ArcelorMittal wil 600 miljoen aflossen

Gepubliceerd op 14 jun 2016 om 18:18 | Views: 377

LUXEMBURG (AFN) - ArcelorMittal wil voor maximaal 600 miljoen dollar aan leningen vervroegd aflossen. Dat maakte het staalbedrijf dinsdag bekend.

Het gaat om leningen die lopen tot 1 juni 2020, met een totaal uitstaand volume van 500 miljoen dollar, leningen tot 5 augustus 2020 met een uitstaand volume van 1 miljard dollar en obligaties die lopen tot 1 maart 2021 met een uitstaand volume van 1,5 miljard dollar.

Obligatiehouders kunnen tot en met 12 juli inschrijven op de aflossing.

voda 14 juni 2016 19:25

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Arcelormittal doet bod op drie obligaties

Staalgigant wil voor 600 miljoen dollar aan obligaties uit de markt halen.

Staalgigant ArcelorMittal heeft maandag een bod van 600 miljoen dollar uitgebracht op drie uitstaande obligaties, waaronder in totaal voor 3 miljard dollar uitstaat.

De drie obligaties hebben een looptijd tot achtereenvolgens 1 juni 2020, 5 augustus 2020 en 1 maart 2021.

De obligatie met een looptijd tot 1 juni 2020 heeft een uitstaand bedrag van 500 miljoen dollar. De lening die aflost op 5 augustus 2020 heeft een uitstaand bedrag van 1 miljard dollar. Het uitstaand bedrag van de lening die afloopt op 1 maart 2021 bedraagt 1,5 miljard dollar.

Het aandeel sloot dinsdag 4,9 procent lager op 4,33 euro.

Door: ABM Financial News.

Info@abmfn.nl

Redactie: +31(0)20 26 28 999

Copyright ABM Financial News. All rights reserved

(END) Dow Jones Newswires

voda 14 juni 2016 21:22

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En het hele persbericht via de Arcelor site:

corporate.arcelormittal.com/news-and-...

voda 15 juni 2016 16:16

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Nippon Steel & Sumitomo Metal sells Posco stocks

Nippon Steel & Sumitomo Metal Corporation sold half of its shares of Posco, bringing down the percentage of shareholding from 5 percent to 4.18 percent, Posco disclosed on June 14.

The top Japanese steel manufacturer sold 750,000 shares, worth 163.8 billion, through an after-hours block sale and also plans to sell the rest.

Source : Korea Herald

voda 15 juni 2016 16:17

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Swedish Energy Agency supports carbon-dioxide-free ironmaking project

The Swedish Energy Agency has today decided to contribute SEK 6.7 million to support the pre-feasibility study in SSAB, LKAB and Vattenfall’s joint initiative for carbon-dioxide-free ironmaking. SSAB’s CEO and President Martin Lindqvist said “We are delighted that the Swedish Energy Agency has chosen to support the pre-feasibility study in the initiative for carbon-dioxide-free ironmaking. The success of the project is not only important for the steel industry, but is also an important contribution to the drive to make Sweden fossil free by 2045.”

Source : Strategic Research Institute

voda 15 juni 2016 16:18

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Vale and Cevital ink steel plant MoU with Para State in Brazil

BNAmericas reported that Brazilian iron ore mining giant Vale and Algeria-based conglomerate Cevital signed a MoU with Brazil's Pará state, No 2 iron ore-producing state in the country after Minas Gerais, as part of Pará's push to get a new steel-manufacturing complex built. Local authorities are eyeing the city of Marabá as the location for the complex.

The MoU establishes terms for the transfer of licenses and land from Vale's Aços Laminados do Pará (Alpa) steel project as well as terms concerning iron ore supply, rail transport and technology transfer, Pará state's news agency, Agência Pará, reported.

Vale originally designed Alpa to produce 2.5Mt/y of slabs and planned for the plant to begin operating by end-2013, but the project was suspended in September 2012.

The Algerian company wants to produce 2.7Mt/y of steel coils, billets, blooms, rails and powders. Cevital is a leading rail producer in Italy and aims to be the first steel company in Latin America to produce it.

The move follows Cevital's announcement in 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 of Cevital's plant and port terminals in Brazil was due to begin in two years, the company said at the time.

Source : BNAmericas

voda 15 juni 2016 16:18

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Essar Steel upbeat on on line sale of steel

The Hindu Business Line reported that the one year old B2B portal promoted by Essar Steel has seen sales of IN 90 crore in the last three months and expects sales to touch INR 100 crore a month in the second quarter of this fiscal with the pick up in construction activity across the country.

The innovative online market place sells industrial and infrastructure-related products, including steel variants and products such as hot and cold rolled coils, colour coated products, galvanised steel, gears, and clutch parts. The site offers discounts of up to 20 per cent on most products.

Mr Ravi Singh, CEO of Hypermart, said: “It is really heartening to see people buying steel from Essar and delivering value-added products on our own platform. Last month, the portal recorded highest-ever delivery of 6,500 tonnes rebar and it is expected to cross 10,000 tonnes soon. Going by the current trend, the company will cross the annual sales target of INR 500 crore by a big margin. We have seen most of the demand for steel products coming from north, west and central India, while the southern and eastern states are still lagging.”

He added “Putting the final price of a product on an online platform is one of the key challenges most companies face. There are many people who see the price on the online platform and negotiate with the company for a discount offline.”

He said “To work around this shortcoming, the portal has created a dialogue box where the buyer can express his intention to have private discussion to negotiate prices offline.”

Source : The Hindu Business Line

voda 15 juni 2016 16:19

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POSCO retains most competitive steelmaker title of WSD

Korea’s biggest steelmaker POSCO retained its title as the world’s most competitive steelmaker for the seventh consecutive year since 2010, the company announced on Tuesday.

Evaluating 37 steelmakers from around the world in 23 different categories, global steel information service provider World Steel Dynamics awarded POSCO the highest score of 8.02 points out of 10.

Despite the setbacks POSCO saw this year with the sluggish economy and reinforcement of import restrictions of exporting countries, POSCO was well evaluated, receiving high marks in various categories including corporate restructuring, innovations and higher-value product sales, company officials said.

Meanwhile, Japanese Nippon Steel & Sumitomo Metal Corp. came in second scoring 7.77 points while U.S. Nucor came in third with 7.74 points.

Source : Korea Herald

voda 15 juni 2016 16:20

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Steel import safeguards are one sided - FII

PTI reported that downstream steel processing industry body Federation of Industries in India has alleged that protection provided by the government to domestic steel producers is one sided.

Federation of Industries in Indiasaid in a letter to the steel ministry “The protection provided by the government to the domestic steel producers is one sided. The steel consuming Industry sector has neither been consulted nor heard by the steel ministry before taking important decisions like imposing of MIP, Safeguard Duty, increasing customs duty and also while placing the steel imports under BIS Certification scheme.”

In another letter to Commerce and Industry minister Nirmala Sitharaman, FII General Secretary Mr HL Bhardwaj said “The domestic downstream steel processing Industrial units in the country are facing massive road blocks due to some of recent measures taken by the government to provide protection to 3-4, domestic steel giants including SAIL, JSW, Tata Steel by virtually banning import of steel.”

The industry body represents 400 members that employ around 30 lakh people mostly belonging to SME units

Source : PTI

voda 15 juni 2016 16:26

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Magnetite Mines details plans for iron ore deposit in South Australia's east

ABC reported that a mineral exploration company has briefed residents and businesses at Broken Hill in far west New South Wales about plans for what it says is one of the world's largest magnetite iron ore sites.

Adelaide-based Magnetite Mines is hoping to tap into a deposit of iron ore at Razorback Ridge, which is part of the Mawson iron ore site that stretches from an area south of Broken Hill to north of Burra in South Australia.

Mr Gordon Toll chairman said that the company's next step was to find and secure about $4 billion to mine the deposit, with a feasibility study under way.

Mr Toll said that "The starting gun is not dependent on the iron ore market, it's dependent on us getting the finance."

After several years of exploring the region, Mr Toll said he hoped construction of a mine could get under way next year.

He said that "We think there's a definite slot right now in the steel world for our product, so it's really all about pre-selling the product and getting the finance."

Magnetite Mines said that it has been in discussions with the South Australian government and Chinese investors about the project.

Mr Toll said that the project would be based in Burra and that it could bring employment opportunities Broken Hill residents.

He said that "Right at the beginning of any mining project, there's a huge amount of earthwork that needs to be done, and there's earthworks contractors here in Broken Hill."

He added that "Broken Hill is a mining town, there's lots of skills here, lots of people here that can make a good living out of our project."

Source : ABC

voda 15 juni 2016 16:34

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Citic digs in as Sino Iron shows promise finally - Report

The Australian reported that for years, Citic’s USD 12 billion Sino Iron project in Western Australia’s Pilbara region has been derided as a white elephant, a costly foray by a naive Chinese company into a mine that has produced more lawsuits than iron ore.

Now, however, with the massive project finally starting to hit its straps, Citic is looking to put that past behind it and prove that Sino Iron will not just work, but also keep WA’s iron ore industry globally competitive into the future.

Mr Chen Zeng, who was appointed chief executive of Citic subsidiary Citic Pacific Mining 2½ years ago with a brief to right the troubled project, said that the issues experienced during Sino Iron’s difficult early years were firmly in the past.

Mr Zeng said that “This project has experienced some very challenging periods of time, but at the end of the day we can see that a difference can be made, a result can be delivered, a dream can be realised. So while we did have a period of difficult time, we look forward to what we can achieve going forward.”

He said that the project represents China’s biggest ever investment in a mining project outside of China and is.

He added that “We still have a lot of work to do but, with the significant investment and the efforts of the team, we have set a very solid foundation for the next stage.”

Mr Zeng said that “This project will deliver significant benefit and value not only to Citic’s shareholders but, more importantly, will deliver value to Australia’s iron ore industry and the state of Western Australia especially.”

Citic earlier this year formally started commissioning of the last two of six processing lines, each of which is responsible for converting the low-grade magnetite ore at Sino Iron into a high-grade concentrate material. The first two lines were a nightmare for Citic, running substantially over budget and behind schedule, but the subsequent four lines had been a very different experience.

He said that the last two lines were delivered under budget and more than 200 days ahead of schedule.

It is a far cry from those difficult early days, when technical issues were exacerbated by the ugly combination of high labour costs, skills shortages, unfavourable currency moves and a lack of experience in Australian conditions.

The end result is a large integrated iron ore project unlike any other in WA’s world-leading iron ore industry. It is more than just a mine — the project also incorporates a gas-fired combined cycle gas power plant big enough to power Canberra, its own desalination plant and Western Australia’s first trans-shipping operation, which sees concentrate loaded on to barges, towed out to deep water and transferred to ore carriers at sea.

Currently, the operation is producing at half of its 24 million tonne per annum production capacity. Mr Zeng believes the project can hit full capacity within 18-24 months as opposed to the three years many are expecting.

Source : The Australia

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voda 16 juni 2016 15:42

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Rusland: probleem met onderzoek staaldumping

Gepubliceerd op 16 jun 2016 om 12:33 | Views: 4.324

MOSKOU (AFN/RTR) - Rusland vindt dat het onderzoek van de Europese Commissie naar het vermeende dumpen van goedkoop staal op de Europese markt door landen als China en Rusland onjuist wordt uitgevoerd. Dat heeft de Russische minister van Economische Zaken Alexei Oeljoekajev donderdag gezegd tegen persbureau Interfax.

Volgens de minister bereidt Rusland een passende reactie op het onderzoek voor. China en Rusland worden er al geruime tijd van beschuldigd dat zij hun staal onder de kostprijs dumpen op de Europese markt, ten nadele van lokale producenten.

voda 16 juni 2016 16:10

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Business Korea reported that global steel information service provider World Steel Dynamics announced the World Class Steelmaker Rankings during the 30th Steel Success Strategies forum on June 9 with POSCO topping the list for the 8th consecutive time. As of June 2015, the WSD assessed 36 steelmakers around the world in 23 categories including production size, profitability, technological innovation, cost competitiveness, cost savings, financial stability, and procurement. The WSD gave credit for POSCO's efforts to improve core corporate competitiveness by increasing sales of value-added high-end products and engaging in technology-based solution marketing. Accordingly, POSCO received the highest points in four segments, including technological innovation and human resource management, and won the top mark of 7.91 points out of 10, standing atop the overall rankings.

Competitiveness of steel makers in 2015

Sl Company Country Score

1 POSCO South Korea 7.91

2 Nucor US 7.55

3 NSSMC Japan 7.49

4 Gerdau Brazil 7.34

5 Severstal Russia 7.31

6 JSW Steel India 7.20

7 NLMK Russia 7.14

8 JFE Japan 7.10

9 Hyundai South Korea 7.05

10 Erdemir Turkey 7.03

Source – WSD

Following is a list of characteristics that WSD identified in winning steel companies
1. Aggressive, experienced and visionary management.
2. Ongoing actions to “leap frog” the competition using new technologies.
3. Low operating costs.
4. Strong relations with workers - Loyal, skilled and productive workforce.
5. Strong balance sheet.
6. Niche and high quality products.
7. Strong customer service orientation.
8. “Pricing power” with large buyers.
9. Ownership of downstream steel-using businesses.
10. Key joint ventures.
11. Makes strong use of computer systems.
12. Some control over their steel scrap situation.
13. Ownership of low-cost iron ore and coking coal mines.
14. Geographic advantages.
15. Favorable location to serve customers.
16. Economy-of-scale benefits.
17. High-cost, nearby competitors.
18. Low overhead costs.
19. Low price paid for electricity.
20. Sizable year-by-year cost-cutting efforts.
21. High proportion of sales in the home market.
22. Home market prices not principally impacted by world export prices.
23. Access to funds from outside sources on a favor- able basis.
24. A critical mass - Larger companies have more clout and status.

Source : Strategic Research Institute

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