Eurobench.com

voda 30 juni 2016 17:09

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SMS group commissions EAF based meltshop and caster at PT Gunung in Indonesia

SMS group has successfully commissioned an electric steel plant with efficient environmental technology and a single-strand continuous slab caster at PT Gunung in Bekasi (West Java province), Indonesia. The melt shop with the ARCCESS® electric arc furnace and a ladle furnace is designed for an annual production of 1.2 million tons of steel to be cast into slabs on the new continuous caster.

Source : Strategic Research Institute

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voda 30 juni 2016 17:10

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RINL efforts for iron ore security gaining ground

The Hindu reported that with raw material insecurity turning into a big hurdle for its future, the Rashtriya Ispat Nigam Limited (RINL), corporate entity of the Visakhapatnam Steel Plant, has stepped up its efforts for allotment of captive mines. Being the only major steel producer without captive mines, the RINL spends nearly 60 to 70 per cent of its production cost on raw material. With industrial slump still casting its shadow on the domestic market, RINL is expected to incur net loss during the first quarter also.

Following sustained pressure from the RINL management and its union leaders, the Steel Ministry recently asked the Coal Ministry to allot some blocks for the city-headquartered Navratna company.

For getting iron ore, the RINL is eagerly awaiting Central clearance for going ahead with a joint venture proposal with the AP Mineral Development Corporation to explore mining blocks in Kukunoor of West Godavari district. According to RINL sources, estimates made in Kukunoor area long ago had revealed deposits to the tune of 20 to 30 million tonnes of iron ore of 63 per cent Fe.

RINL is conducting a mineral exploration survey by the Mineral Exploration Corporation Limited in Bhilwara region of Rajasthan where it has been allotted low-grade iron ore. After picking up majority equity in Eastern Investments Limited through a payment of INR 360.30 crore in 2010, the RINL had pinned high hopes on getting mines in Odisha. The EIL has strategic control over the Orissa Mining Development Corporation.

RINL is ramping up its production capacity from three million to 6.30 million tonnes after completion of expansion at a cost of INr 12,500 crore. It needs 10 million tonnes of iron ore to produce 6.30 million tonnes of steel. The company is also spending INR 5,000 crore to produce one million additionally by capacity augmentation and modernisation of blast furnaces and other critical equipment. This is expected to be completed by 2016-17.

Source : The Hindu

voda 30 juni 2016 17:16

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Tata Steel to invest in modernizing IJmuiden plant

Dutch News reported that Tata Steel, which owns the former Hoogovens plant in IJmuiden, is planning to invest hundreds of millions of euros in modernising its Dutch operations. At the same time, the company is to investigate possible further efficiency measures. The investments in the Netherlands include building a production line for stronger but lighter and thinner steel for the car industry.

Spokesman Robert Moens said “This will improve our position on the car market.”

The project, which will take three years, will cost EUR 200 million to complete.

The IJmuiden plant booked net profit of EUR 153.7 million in the 2015/16 book year, more than half the previous year’s total. This was due to difficult market conditions which have forced down prices.

Source : Dutch News

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voda 30 juni 2016 17:17

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Jalalabad Iron Ore Complex beneficiation plant in Iran to start by September

Financial Tribune reported that Iran’s first iron ore beneficiation plant will become operational by the end of September, says managing director of Jalalabad Iron Ore Complex.

The plant, with an annual production capacity of 600,000 tonnes, is capable of beneficiating 30% grade iron ore to up to 67%, a level deemed proper for use in the steel industry.

The beneficiation plant’s construction started in late 2013 with private sector investment.

Jalalabad Iron Ore Complex, located in Zarand County in Kerman Province, is home to over 190 million tonnes of the steelmaking material with an annual production capacity of 870,000 tonnes.

Source : Financial Tribune

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voda 30 juni 2016 17:18

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Salzgitter raises guidance for2016

German steel maker Salzgitter AG said that it raised its guidance for the financial year 2016 - subject to the stable development of the market. It said “Europe's steel market has stabilized notably, which is due above all to the surprisingly steep decline in Chinese dumping imports and the associated increase in the price level of many steel products.”

Source : Strategic Research Institute

voda 30 juni 2016 17:20

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Tata Metaliks plans to add 60000 tonnes DI pipes capacity by year end

The Telegraph reported that Tata Metaliks plans to convert itself into a ductile iron pipe manufacturer from a pig iron player to beat the blues of the commodity cycle. As per report, The Tata Steel subsidiary is augmenting the capacity of its ductile iron pipe mill by 50 per cent by the end of this year to reduce its dependence on pig iron sales.

Mr Koushik Chatterjee, chairman of Tata Metaliks, said at the company's 26th annual general meeting in Calcutta that "The challenges of the pig iron business will continue ...We will eventually move to the ductile iron pipe business,"

At present, Bengal-based Tata Metaliks has an annual capacity to produce 120,000 tonnes of ductile iron pipes that go into water distribution. By end of the year, the production will go up to 180,000 tonnes.

Moreover, Tata Metaliks proposed to merge the wholly owned pipe-making subsidiary with itself to achieve synergies in operations and taxation.

Source : The Telegraph

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voda 30 juni 2016 17:21

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China is running out of time to cure its steel problems-Mr Andy Home

Mr Andy Home noted columnist for Reuters wrote that China is frantically trying to apply the brakes to its runaway steel juggernaut and has set targets are for capacity closures, 45 million tonnes nationally this year and 100-150 million tonnes over the next three to five years. Beijing is using all of its centrally-controlled levers to try and reform the sector.

Regional governments are heeding Beijing's call. Yunnan province, for example, has committed to eliminate 4.5 million tonnes of capacity by 2018. Local authorities are being urged to crack down on energy usage in the sector with those that fail to meet efficiency targets facing forced closure if they cannot improve.

A drive to consolidate the country's fractured steel production landscape has begun with Baosteel, the second-largest Chinese operator, being pushed into a forced marriage with its smaller and financially weaker peer Wuhan Iron and Steel. nL4N19I052

But can Beijing deliver? It's going to help if it stops pressing the accelerator and the brake pedals at the same time. Even if does, though, it may be too little too late as the trade walls are rapidly being erected.

Looming even larger for Beijing policy-makers is the prospect of seeing China's bid for market economy status at the WTO founder on the rising protectionist waves. In trying to react fast enough to head off a full-blown trade war with the both the United States and Europe, China faces two big challenges.

The first is the sheer scale of excess capacity in the country. The most commonly cited figure is 300 million tonnes which comes from the China Iron and Steel Association.

The second more pressing problem is the fact that both Chinese steel production and exports are rising again.

Source : Reuters

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voda 30 juni 2016 20:54

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'Beleggers gedupeerd bij claimemissie Arcelor'

Gepubliceerd op 30 jun 2016 om 20:33 | Views: 611

AMSTERDAM (AFN) - ABN AMRO heeft beleggers gedupeerd bij de afwikkeling van een claimemissie van ArcelorMittal in maart dit jaar. Dat stelde de Vereniging van Effectenbezitters (VEB) donderdag. De beleggersclub heeft al met ABN AMRO overlegd, en die heeft volgens de belangenbehartiger toegezegd klachten individueel te beoordelen.

Naar de mening van de VEB heeft de bank verzuimd om claims van aandeelhouders die hun rechten niet tijdig hadden verkocht, alsnog te verkopen. ABN AMRO boekte de claims als waardeloos af. Dit was volgens de organisatie niet in het belang van beleggers.

De vereniging wijst erop dat het probleem alleen speelt bij in Amsterdam genoteerde aandelen. ,,ABN AMRO heeft opmerkelijkerwijs wel de opdracht gegeven de New Yorkse Arcelor-claims te verkopen. Met betrekking tot de Amsterdamse claims heeft ABN AMRO dit juist nagelaten.''

voda 30 juni 2016 22:20

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ABN AMRO dupeerde beleggers bij afwikkeling claimemissie ArcelorMittal - VEB

Bank zal klachten individueel beoordelen.

ABN AMRO heeft claims van haar klanten bij de afwikkeling van de emissie van ArcelorMittal in maart van dit jaar als waardeloos afgeboekt, waardoor beleggers inkomsten zijn misgelopen. Dit stelde de Vereniging van Effectenbezitters donderdag op de eigen website.

Volgens de VEB is het gebruikelijk dat een bank die constateert dat een aandeelhouder zijn claimrechten niet tijdig heeft verkocht, deze alsnog verkoopt. Na aftrek van de kosten die de bank maakt voor de verkoop, komen de opbrengsten vervolgens ten goede van de aandeelhouder. In het geval van de claimemissie deed ABN AMRO dit evenwel niet.

"ABN AMRO heeft de Amsterdamse claims als waardeloos afgeboekt. Dit is niet in het belang van beleggers", aldus de VEB, die meent dat de bank onvoldoende aan haar zorgplicht heeft voldaan door klanten enkel te informeren over het waardeloos aflopen van de claims.

Opmerkelijk noemde de belangenbehartiger dat de Arcelor claims die genoteerd waren aan de New York Stock Exchange wel zijn verkocht door ABN AMRO.

Beleggers kunnen volgens de VEB over de kwestie contact opnemen met ABN AMRO, die vervolgens de klachten individueel zal beoordelen.

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 4 juli 2016 16:11

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Beursblik: Credit Suisse zet ArcelorMittal op favorietenlijst

Aperam raakt plekje kwijt.

Credit Suisse heeft ArcelorMittal op de favorietenlijst gezet. Dit bleek uit een grootschalige herziening van de meest favoriete en minst geliefde aandelen van analisten van de Zwitserse zakenbank.

Aanleiding voor de analisten om ArcelorMittal op de favorietenlijst te plaatsen is louter het momentum in het aandeel. Op kwaliteit, dat wil zeggen rendement op vermogens en groei, en waardering scoort het aandeel volgens de marktvorsers niet.

Credit Suisse heeft een Outperform advies met een koersdoel van 7,50 dollar op ArcelorMittal.

Een van de fondsen die Credit Suisse van de favorietenlijst haalde was het eveneens op het Damrak genoteerde Aperam, een fabrikant van roestvast staal. Het Outperform advies werd wel gehandhaafd.

Op een licht lager Damrak koerste het aandeel ArcelorMittal 1,1 procent hoger op 4,45 euro. Aperam won eveneens 1,1 procent op 32,75 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 4 juli 2016 16:29

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Teesside research body MPI inks 5 year R&D pct with British Steel

The Northern Echo reported that the Materials Processing Institute, near Middlesbrough, is working with British Steel. Bosses say the five-year agreement will see MPI provide research and development for British Steel’s rail and construction goods.

Mr Chris McDonald, MPI chief executive, said the partnership provides a welcome tonic for the region’s steel sector after it was rocked by thousands of job losses last year when Redcar steelmaker SSI UK collapsed into liquidation and Caparo Industries’ Hartlepool forge closed.

He said: “After what has been a difficult year for the industry, we can see opportunity and confidence for investors in UK steel manufacturing. We have a long track record in developing technology and world-leading expertise and look forward to using our knowledge to support the development of British Steel to ensure it remains profitable and produces high-quality steel.”

Mr John Dale, British Steel’s technical director, said the MPI agreement will provide greater confidence going forward. He added: “This collaboration will support the continued development of our products and productivity, keeping UK steelmaking at the forefront of the international market. The future looks increasingly bright for British Steel.”

British Steel, formerly Tata Steel’s Long Products division, is owned by Greybull Capital after the investor bought the business from the Indian company. Greybull bought the former Long Products operation for GBP 1 and says the division, which employs nearly 900 people across the North-East and York, has already turned a profit.

The MPI, which previously launched a commercial steelmaking operation to meet customers’ requirements for smaller and unique orders, has been hailed as a potential saviour to spearhead the steel sector’s revival.

Source : The Northern Echo

voda 4 juli 2016 16:30

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Tata BlueScope Steel could shut down Pune unit - Report

The Hindu reported that Tata BlueScope Steel Ltd, an equal joint venture of Tata Steel and BlueScope Steel of Australia, is close to shutting down its Pune unit citing mounting losses, according to its employees.

The firm, which is mainly into the manufacture and installation of industrial sheds, has already issued orders for shifting its business to other locations in the country. Workers have been asked to relocate to the company’s units in Chennai, Bhiwadi in Rajasthan and Jamshedpur in Jharkhand.

It has also stopped accepting new orders from clients indicating stoppage of work in two months. Announcing the Pune unit’s closure is only a formality, company officials said.

The Hindu spoke to workers and management-grade employees, who expressed concerns and unhappiness as the development will affect their livelihood. Without spelling out the detailed plans, a Tata BlueScope Steel spokesperson in a statement said, “The company is currently reviewing and evaluating the business performance of all its verticals. Subsequent to this, the company will come up with a business strategy, keeping in mind the best interests of all its stakeholders.”

However, the workers’ union has alleged the unit is being shut down with ulterior motives by harassing workers. The spokesperson declined to comment.

Source : The Hindu

voda 4 juli 2016 16:31

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Weldbend Corp and Boltex Mfg file trade petition over steel flange import from India, Spain and Italy

Two leading producers of carbon steel flanges, Weldbend Corporation and Boltex Mfg. Co, have filed petitions with the US Department of Commerce and US International Trade Commision charging that unfairly priced and subsidized imports of carbon steel flanges from India, Spain and Italy are causing material injury to the domestic industry.

Source : Strategic Research Institute

voda 4 juli 2016 16:34

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India starts antidumping duty probe on likely on certain steel items from China

The Indian government has initiated a probe into dumping of certain steel items used in automotive and construction industry from China, in order to protect the domestic industry. SAIL, Rashtriya Ispat Nigam, Usha Martin and JSW Steel have filed a petition before the Director General Anti Dumping for initiation of anti-dumping investigation and imposition of the taxes on the alleged dumped imports of "Wire Rod of Alloy or Non-Alloy Steel" originating in or exported from China.

The Directorate General of Anti-Dumping and Allied Duties prima facie finds sufficient evidence of dumping of the products from that country. DGAD has said in a notification “The authority hereby initiates an investigation into the alleged dumping causing consequent injury to the domestic industry... to determine the existence, degree and effect of dumping and recommend the amount of anti-dumping duty, which if levied, would be adequate to remove the injury to the domestic industry.”

The period of investigation covers July-December 2015. The injury investigation period will also cover 2012-2013, 2013-2014, 2014-2015, April 2015-December 2015. Besides, it said the applicants have requested for retrospective imposition of the anti-dumping duty.

The products under consideration in this investigation are bars and rods, hot-rolled, irregularly wound coils, iron or non-alloy steel or alloy steel, which are commonly known as wire rods.

Source : PTI

voda 4 juli 2016 16:38

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Posco starts trials at automobile HDG line in Thailand

Yieh reported that Recently, Posco announced its automotive hot-dip galvanizing sheet production line put into hot run in Thailand. The production line is located in Thailand Rayong laem chabang port near Amatacity industrial park, is part of Posco Thailand coating company (Posco-TCS) and the designed annual capacity of 450,000 tons.

The construction of the line started in October 2014, was the fourth hot-dip galvanizing line for Posco. After the completion of the production line, mainly to supply galvanized and galvanized annealed sheet to Thailand automobile manufacturers.

In the first two years of operation, the production of galvanized sheet is primarily used as a car body steel plate, through two years of effort to get car manufacturers after the certification, the product will be officially used in automotive panels.

Source : Yieh

voda 4 juli 2016 16:39

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Malaysian Steel King to hand over reins to China partner - Report

The Edge reported that Mr Tan Sri William Cheng will take a back seat in the business that earned him the moniker “Steel King of Malaysia” once an agreement with a strategic partner in China is finalised as part of an ongoing group-wide restructuring at Megasteel Sdn Bhd that still requires creditors’ buy-in. Mr Cheng, Lion Group’s largest shareholder, when asked about the status of Megasteel’s proposed restructuring plan, said “We’re looking at a 50:50 partnership, hopefully in two to three months [a deal] can be finalized.”

Mr Cheng declined to name the partner as talks were still ongoing and an agreement had yet been sealed. He said “We (Lion Group) will have a 50% stake but we will let them manage [the new enlarged steel business entity], and perhaps only deal with local sales and dealings with the local government,”

The intended Chinese partner is among the top three ball bearing makers in China that is able to contribute some RM2 billion worth of equipment to the partnership, according to a source familiar with the restructuring exercise.

China’s largest bearing manufacturers include Wafangdian (ZWZ), Luoyang (LYC), Harbin (HRB), Zhejiang Tianma (TMB), Wanxiang Qianchao, and C&U, according to data on the website of SKF, the world’s largest bearing maker that also has production plants in China. There is no official confirmation if the potential partner is among these players.

This is not the first time Lion Group is speaking to a Chinese partner and that a deal could well still fall through, but said negotiators and number crunchers are hard at work in China and back home. As far back as 2011, it was reported that Baosteel Group, China’s second-largest steel manufacturer, was considering a tie-up with Lion Group, but a deal had yet to materialise.

Megasteel, which started business in 1999 as the only HRC producer in Malaysia with a RM3.2 billion integrated steel mill in Banting, Selangor, had racked up RM2.43 billion in accumulated losses as at Dec 31 last year. This was despite the benefit of a 25% import duty the government imposed on HRC, a rate which was raised to 50% in 2002. Megasteel has thus far gone through four debt restructurings, the latest of which was in 2014, when it only had consent from two of its seven US dollar term loan creditors.

Source : The Edge

voda 4 juli 2016 16:41

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Vietnam Steel Association calls for urgent action on steel overcapacity

VOV reported that the Vietnam Steel Associationhas called for urgent action by the government to address the steel industry crisis resulting from overcapacity and ensure that it remains strong and globally competitive. The VSA argues that steel is vitally important not only in its own right, but because it is critical to other industrial value chains and closely linked to the health of many downstream industrial segments such as automotive, construction, electronics, mechanical and electrical engineering.

Today, the Vietnam steel industry finds itself in a very difficult situation, says the VSA, largely as a result of overcapacity, operating at just 50-60% capacity and reeling from huge economic losses. The steel industry must cope with the simultaneous effects of low demand resulting from overcapacity in a globalized steel market whilst at the same time being confronted with the need to invest heavily to adjust to the green economy and produce more innovative products.

A rep from Phu My Steel Company said “Aggravating the problem is the fact that local steelmakers simply don’t have the financial ability to invest in anything but small scale production lines utilizing out-of-date technologies. In addition, the technological qualifications of personnel in the industry are weak and thus inhibit sorely needed innovation and competitiveness.”

A rep from another domestic manufacturer added “Nor can we compete with China on price. Chinese steelmakers have a tremendous advantage, benefiting from economies of scale, which spread their fixed production costs over significantly larger quantities of product.”

To respond to the crisis in steel VSA has urged the government to set out targeted actions to ensure that the operating environment is conducive to a competitive and sustainable steel industry. This will enable it to solve the structural problems it faces, elevate its global competitiveness and focus on developing the next-generation of steel products that are essential for steel and other key downstream industries.

Currently, there is so much overcapacity the Vietnam government should stop issuing investment licences to any foreign investors and thwart any further delocalization of the industry, says the VSA.

In addition, the regulatory framework should be redesigned in a smart and ambitious way so as to be a primary driver for innovation and most importantly include stricter environmental targets.

Public procurement should also be the centrepiece for bolstering both innovation and demand for steel in the industry.

The VSA says that if the nation’s steelmaking capacity remains constant after 2015, it could take five to seven years for demand to match capacity, if demand continues to incrementally climb at current rates of growth. During this time, it’s important for industry in concert with governmental action to implement initiatives to support the construction and electronic segments of the economy with a view to increasing their sustainability, resource and energy efficiency. This in turn will stimulate further growth-oriented measures, boosting the consumption of steel.

Source : VOV

voda 4 juli 2016 16:42

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HeSteel officially takes over Smederevo steel mill in Serbia

Xinhua reported that Serbian Prime Minister Aleksandar Vucic announced on Friday that the steel mill in the Serbian city of Smederevo is officially in ownership of Chinese HeSteel since Friday and the EUR 46 million deal becomes a reality.

Mr Vucic opened a press conference at the government building, announcing the takeover of the steel plant. He stressed that this acquisition is of vital interests for Serbia and its citizens.

He said “I wish them luck and success. Money has been transferred to the account, all 46 million euros. I Congratulate them, and I wish them to increase production at the steel mill, strengthening Smederevo as an industrial city and advancing it into a more prosperous and successful place.”

Mr Vucic said that in the hands of HeSteel, the country's sole steel mill who has been in desperate need for a new owner, can now become the motor of the economy for the country, struggling to increase its growth and reduce economic deficit.

Mr Vucic concluded that "I wish that they bring even faster development to our Serbia

The Smederevo steel mill, founded in 1913, experienced difficulties and was acquired by China's HeSteel Group (HBIS) in April this year. The Chinese steel group plans to invest at least EUR 300 million and turn it into one of the most competitive steel mills in Europe. The Chinese company employed all the 5,000 or so workers of the plant.

Source : Xinhua

voda 4 juli 2016 16:44

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Europe must protect itself against Chinese steel exports - German Minister

Reuters reported that German Economy Minister Sigmar Gabriel said on Saturday at a conference of his Social Democrat (SPD) party that Europe needs to protect itself against Chinese steel exports. He said “Europe needs to organise its markets in such a way that it not only creates competition but also social security.”

Mr Gabriel added “And that includes Europe confidently protecting its markets if others - in this case China - try to destroy our industrial foundations with government funds. Europe's steel workers have a right to that.”

China is by far the world's biggest steel producer and its annual output is almost double that of the EU, with rival producers accusing China of selling into export markets at below cost after a slowdown in demand at home, causing a crisis for the industry that has led to job cuts and plant closures.

Source : Reuters

voda 4 juli 2016 16:46

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Industeel Belgium successfully implements upgrade of thick slab cast

Published on Mon, 04 Jul 2016 0 times viewed

Industeel, ArcelorMittal’s subsidiary specialized in the production of hot rolled steel plates, ingots and formed pieces, has successfully upgraded its thick slab caster in collaboration with Danieli. The investment project had a volume of €18 million.

Source : Strategic Research Institute

Bijlage:

Vertraagd	21 feb 2025 17:35
Koers	27,050
Verschil	+0,230 (+0,86%)
Hoog	27,270
Laag	26,840
Volume	1.778.340
Volume gemiddeld	2.622.761
Volume gisteren	2.493.470

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