Eurobench.com

voda 24 augustus 2016 16:31

0

China Polaris Technologies Co eying Ajaokuta Steel Company in Nigeria

The Daily Trust reported that a Chinese consortium, China Polaris Technologies Co Ltd, is seeking to acquire the Ajaokuta Steel Company Limited in Nigeria. During a courtesy visit to the Minister of State for Solid Minerals Development Hon Abubakar Bawa Bwari in his office in Abuja, Chief Executive Officer of the company Mr Zhang Wendong said the mission of his team’s visit was to indicate the group’s interest in investing in Nigeria’s solid minerals sector.

While indicating the company’s interest to acquire ASCL, Mr Wendong said they had discovered an iron ore site of high quality that can be explored to provide raw materials for the Ajaokuta Company and other steel processing companies in the country.

He said the consortium was a group of companies that were into mining, exploration, financing, provision of technologies, commodity exchange and minerals product beneficiation. He urged the Ministry to speed up the process of obtaining mining licenses and how to link up with licensed companies in the sector to foster partnership.

Source : The Daily Trust

Bijlage:

voda 24 augustus 2016 16:32

0

Protection for Indian steel industry must be temporary - CII President

Business Standard reported that Confederation of Indian Industry President, Mr Naushad Forbes, even in the wake of a clamour for increased protection for the steel industry, said that the protective measures should be temporary.

He told "The long-term objective has to be full integration with free trade around the world. The steel sector has a particular problem at present. China has a massive overcapacity, which is double the total Indian consumption. So, the situation is very skewed. So, you have a temporary problem that needs to be addressed to sustain the local industry. That's what's being done, so you have protective tariffs, but the important thing is that the protection indeed be temporary and not permanent to help the industry sort out problems in the short run and make the industry competitive not only locally but even in China.”

The rationale, according to him, was that protection helped the producer, but it was a cost or tax on the consumer.

In the long-term, we have to move away from protection," Forbes explained when asked about protection sought by the steel industry in the wake of cheap imports from China.

He also pointed out that steel users were many more in number than the steel producers and protection increases the cost of goods for consumers.

Mr TV Narendran, managing director for Tata Steel India and Southeast Asia, who is also the CII regional chairman, however, said that the Indian steel industry was not unique in seeking protection. He said "Before January no one was talking about protection when the import duty was 0-5%. Steel industry worked to make itself competitive despite a high cost of capital and cost of doing business. But when you have a 'Make in India programme, how do you protect investors because end of the day, you put in INR 200,000 crore in building steel capacity and when you have a problem you don't do anything. Then the question to ask is why would anyone put in capacity in India. And India being a country, which has raw material and market should be an ideal place to make steel. Steel industry has always competed with the rest of the world. Across the world, countries were taking action and it was normal and accepted by WTO. Anti-dumping takes time and hence the temporary measures.”

Source : Business Standard

voda 24 augustus 2016 16:33

0

JFE Steel and thyssenkrupp to cross license auto parts forming technologies

JFE Steel Corporation announced that it has signed an agreement with thyssenkrupp Steel Europe AG to cross license advanced forming technologies for automobile steel sheets, including high tensile steel.

Source : Strategic Research Institute

Bijlage:

voda 24 augustus 2016 16:47

0

South Korean court orders Nippon Steel & Sumitomo Metal to pay redress to wartime forced laborer

Kyodo News reported that a South Korean court has ordered Nippon Steel & Sumitomo Metal Corp. to pay KWR 100 million in reparations to the family of a South Korean man forced to work for one of its predecessor companies during wartime. The amount of damages awarded by the Seoul Central District Court is identical to that awarded to seven other plaintiffs in a similar lawsuit resolved last November.

The court said the company is obliged to compensate the plaintiff, who died in 2012, for hardships and lost opportunities he suffered after being conscripted into forced labor at a steel mill of its predecessor, Nippon Steel Corp., in what is now Kitakyushu, during World War II.

The eighth plaintiff, who was part of the original lawsuit filed in March 2013 seeking KWR 100 million in compensation for each of them, sued the company separately for procedural reasons.

The company, which is appealing the previous ruling, indicated it will do likewise with regard to the latest one.

Source : Kyodo News

voda 24 augustus 2016 16:48

0

Arrium worker to decide on pay cuts

AAP reported that South Australian workers at troubled steelmaker Arrium are expected to decide whether to take a pay cut as negotiations with the administrator come to a close.

A spokesman for administrator KordaMentha has confirmed a decision should be reached on Wednesday afternoon if the talks run to schedule.

In July, KordaMentha proposed a 12 per cent pay cut for workers as part of a three-year pay reduction strategy, and the Australian Workers' Union countered by offering a 7.5 per cent cut.

Source : AAP

voda 24 augustus 2016 16:49

0

Alborz Steel workers in Iran protest against unpaid salaries – Report

NCR reported that a group of steel workers in Iran are protesting over the 7 months’ unpaid salary and unpaid bonuses from 2015. The workers, from the Alborz steel factory stopped working on Sunday August 21 and gathered in front of the factory.

They were then told by their employer that they would be fired if they did not return to work. Their boss said that anyone who wished to remain employed come Monday morning (August 22) should return to work and write a letter promising not to protest the conditions.

The ILNA news agency, which is run by the Iranian Regime, spoke to the protesters who said that in addition to not being paid at all in 2016 and not receiving their 2015 bonus, the employer had also not paid their Social Security premiums for nearly 16 months. Alborz steel workers explained that the factory does not have any production problems but still refuses to pay the contractors.

Source : NCR

voda 24 augustus 2016 16:50

0

Stee importer MRTC opposes testing of steel again in Phillippines

Philippine Daily Inquirer reported that steel trader Mannage Resources Trading Corp has opposed proposals by the Bureau of Product Standards to impose additional quality inspection of imported steel, saying it violates World Trade Organization rules and the Philippines’ free trade commitments.

In a statement, MRTC president Lawrence Daniel Sy said a proposed department administrative order, which amends the BPS product certification scheme by imposing additional testing on imported steel and other products, has unclear objectives and has no scientific basis. He said “The principle of National Treatment which upholds equal treatment for imported and locally-produced products is violated by the proposed order’s amendments.”

He said “Since imported steel undergoes mandatory testing based on Philippine National Standards by duly accredited international testing laboratories at their point of origin, imposing additional conformity assessment requirements like product inspection and testing upon arrival in the Philippines discriminates them from locally produced steel.”

Aside from violating international rules, he stressed that multiple testing means additional costs to the importer, prolonged processing time, delays caused by port congestion and additional red tape.

He lamented that for local deformed steel manufacturers, test sampling is conducted in their production line by taking 1 sample per 20 tons, done in-house without any intervention from third party inspectors. The testing is done at the manufacturer’s testing facility and not conducted by a third party independent testing laboratory.

Under a proposed order, imported products like cement, BI/GI pipes, flat glass and steel will be subjected to further testing upon arrival in the Philippines. In the case of steel, the proposed sample collection and testing shall be done inside the premises of the Bureau of Customs.

Source : Philippine Daily Inquirer

voda 24 augustus 2016 16:51

0

Pressure mounts on Ottawa to act on steel industry in Canada

The Hamilton Spectator reported that leaders of the union condemned the decision to continue denying health benefits to retirees while allowing USSC to sit on $150 million in cash. Union leaders, Opposition MPs and even the Chamber of Commerce are pressing the federal government to help Canada's struggling steel industry.

Two Hamilton Members of Parliament, three chambers of commerce and union leaders at the local and provincial levels separately have called for help for the industry and especially for retirees and workers in Hamilton.

NDP MPs Scott Duvall (Hamilton Mountain) and Dave Christopherson (Hamilton Centre) have written to Economic Development Minister Navdeep Bains, saying the federal government has stayed on the sidelines too long.

As a start, they want the government to release the "secret deal" that ended a lawsuit against U.S. Steel for breaking the production and employment promises it made to get government approval for the acquisition.

They also back a call by the United Steelworkers union for a public inquiry into Canadian bankruptcy law they say favours creditors at the expense of workers and retirees, and the 2007 takeover of Stelco by U.S. Steel. Duvall has raised the issue in Parliament several times.

Source : The Hamilton Spectator

Bijlage:

voda 24 augustus 2016 16:53

0

Essar’s iron ore terminal at Vizag Port boosting third party business

Post the taking over of Vishakhapatnam Port Trust’s Iron Ore Handling Complex on a Build-Operate-Transfer basis for a period of 30 years in May’ 15, Essar Vizag Terminals Limited, a wholly owned subsidiary of Essar Ports Limited has boosted the EPL’s strategy of diversifying its customer profile. Through addition of this facility EPL has seen its third party cargo share jump to more than 8% in FY 16 alone. Once upgraded the mechanized system will be able to reach a capacity of 8000TPH, which will be one of the highest cargo-handling rate in Indian Major Ports.

Highlights

Registers 598% increase in cargo handling in Q1 FY 17 as compared to Q1 of FY16

Registers 922% increase in rake handling in Q1 FY 17 as compared to Q1 of FY16

Cargo handling expected to boost by more than 100% in FY 17 crossing 10MMT boosting iron exports from India

Synchronized Projects works and Operations delivers excellence and registering Highest Iron Ore Loading Rate in Vizag Port at 56,100 Per Day post takeover

INR 425 Cr. Investment made till date out of INR 800 Cr. investment to be made across 2 years with commissioning in 2017

Complete mechanized facilities comprising of wagon tipplers for receiving cargo by rakes, transferring cargo through conveyor system to stackyard having multiple stackers & reclaimers and loading into vessels up to capesize through ship loaders with minimal human intervention

Spillage reduction, contamination and pollution reduction measures post takeover deeply appreciated by various customers and users of Port

During QI FY 17, EVTL handled 2.19 MT (29 Vessels) of Cargo as against 0.31 MT (06 Vessels) in Q1 of FY16 on the backdrop of improving Indian Steel Sector performance and Project upgradation works. EVTL is now operating with a net average loading rate of 3000 TPH as against <1000 TPH during Q1 of FY16 and is targeting to achieve 4000 TPH by Q2 of FY 17 along with simultaneous project upgradation.

Essar’s Iron-Ore Handling Terminal at Vizag Port is an all-weather deep draft facility that has the wherewithal to serve the rapidly growing markets of South-East Asia, including China, Japan, and Korea. It can accommodate super capesize vessels and has dedicated rail-connectivity with Bacheli & Kirandal Mining sources by which the facility has an advantage to serve western-sector of India. It is also integrated with its Essar Steel (pellet plant) in Vizag through a fully mechanized conveying facility with 6.7 km shipping conveyor system.

As the bi-lateral agreement between MMTC and Japanese and South Korean steel mills for supply of high grade Indian iron ore during the three year period from April 2015 to March 2018 is finalized and mandates for shipment of 3.8 MMTPA to 5.5 MMTPA. EVTL, is upbeat for catering to these requirements. The agreement stipulates for supplying up to 16.5 MMT of high grade iron ore to steel plants in Japan and South Korea over three years till March 2018. With the production of Essar steel also expected to increase significantly during FY 17, the total cargo handling at Vizag is expected to double as compared to FY 16. The integrated customer i.e. EStIL has improved their performance by 121% growth in Q1 FY 17 as against Q1 FY 16 which is also facilitating the surge in traffic at the Ore Handling Complex

Commenting on this Mr. Rajiv Agarwal – Managing Director, Essar Ports said: “This year Iron-Ore Terminal in Vizag Port had successfully started its operations from May’15 and has been undertaking simultaneous operations and Project works with excellent outcomes. The Terminal has boosted the third-party business and enhanced Essar Port’s presence on the East-Coast of India. Decades of experience of Essar in Port Sector has been the foundation which has helped deliver significant improvements in the Vizag facility in such a short time”

Essar Ports expects enhanced Capacity Utilization during FY 17 and cargo handling to increase from 59 MMT in FY 2016 to 85 MMT in FY 2017, thereby registering a growth of more than 40% on year on year basis with third party cargo business to increase to more than 14% in FY 2017.

Essar Ports is one of the largest port companies of India, with a current capacity of 140 MMTPA. The capacity is being expanded to 194 MMTPA over the next few years. Essar Ports has five operational port terminals at Hazira, Vadinar, Paradip, Salaya and Vizag Iron Ore and are estimated to handle approximately 85 MMT of cargo during FY17.

The Hazira port is an all-weather, deep-draft port with 30 MMTPA of dry bulk and break bulk cargo handling capacity. Vadinar is also an all-weather, deep-draft port with 58 MMTPA of liquid cargo handling capacity. The Paradip dry bulk terminal is an all- weather, deep-draft port with 16 MMTPA of dry bulk cargo handling capacity. The Vizag terminal is an operational berth taken over in May 2015 having capacity of 16 MMTPA. The Company’s newly commissioned dry bulk terminal at Salaya has increased its capacity by further 20 MMTPA.

Additionally, the Company is also expanding its Hazira port capacity by 20 MMTPA – taking Hazira capacity to 50 MMTPA. The Company is also undertaking capacity addition of iron ore berths at Visakhapatnam Port with a total capacity of 16 MMTPA. The Company also plans to develop a coal terminal at Paradip of 18 MMTPA capacity.

Source : Strategic Research Institute

Bijlage:

voda 24 augustus 2016 16:55

0

Iran private iron ore miners face crisis – Mr Giafeh

According to Mr Ghadir Giafeh, the head of board of directors at Iron Ore Producers & Exporters Association of Iran, otherwise known as IROPEX, Iran’s iron ore sector has hit a rough patch as 90 iron ore mines out of a total of 190 have shut down in recent months. He added that nearly all of the closed mines belong to the private sector.

The miners’ plight has also been showing in the government books. According to the Ministry of Industries, Mining and Trade, Iranian mines have only paid about $14.8 million in mining royalty to the government during the first quarter of the current Iranian year (March 20-June 21). The figure was $26 million for last year’s corresponding period.

IROPEX blames weak domestic demand and the untimely removal of iron ore export tax exemptions as the main causes of the crisis.

Diminishing Domestic Demand
According to IROPEX secretary Mr Alireza Siasirad, a sizable amount of iron ore produced in excess of demand has currently saturated the domestic market and there is simply not enough steelmaking capacity.

Iranian steel mills produced over 16 million tons of steel during the previous fiscal year that ended in March, and consumed 32 million tons of iron ore in the process. This is while miners produced close to 40 million tons of ore last year.

Domestic steelmaking capacity has in fact been on the rise for the past few years and is expected to dry up Iran’s iron ore reserves in the long run. Iran’s goal is to become the world’s 6th largest steel producer as per the 20-Year National Vision Plan (2005-25), which stipulates production of 55 million tons of crude steel per year by the deadline.

This requires Iran to boost its production capacity of iron ore concentrate to 53.5 million tons from the current 44 million tons; sponge iron to 58 million tons from 26 million tons; and pellets to 88 million tons from 28 million tons.

Iranian steel mills have so far realized close to half of the crude steel production capacity target, according to Iranian Mines and Mining Industries Development and Renovation Organization. As such, steelmaking capacity currently stands at about 25 million tons per year, 17 million tons of which is being utilized.

However, the main issue is that the plan is not proceeding quickly and consistently. The industries ministry’s excessive issuance of construction permits for granulated iron ore and iron ore concentrate plants has resulted in a saturated market but pellets are on the short end. Meanwhile, the construction of several pellet plants in the Sangan region of Khorassan Razavi Province is meant to partly alleviate the problem.

Furthermore, faced with a volatile commodity prices in global markets every day, miners cannot afford to prevent losses until the domestic demand is somehow stimulated. Here, the logical solution, considering the unbalanced iron ore capacity making, is to embark on exports of the industrial materials.

Untimely Removal of Export Incentives
Based on a recent directive announced during the last session of the Iran Economic Council, granulated iron ore will be removed from the list of Iran’s tax-free non-oil exports. The directive comes into effect in late September.

The decision is premature and will extend the current recession in the market by causing more producers to go out of business, says the IROPEX chief. This is while global iron ore prices have improved during the past few months after a year of sticky lows in 2015.

Iron ore ended 2015 at its lowest in years as it dropped to about $30 per ton in December. The steelmaking material took on a positive trend in early 2016 and over signs of China’s cutbacks in its steelmaking capacity, spiked to a high of $70.46 per ton in April. The commodity’s gains lost steam in early May and have been recovering ever since. According to Metal Bulletin, 62% Fe iron ore CFR China stood at $60.95 per ton on Monday, up 0.96% from last week.

The best way forward in the current situation, according to the head of the Mining and Mineral Industries Commission of Iran Chamber of Commerce, Industries, Mining, Trade and Agriculture, Bahram Shakouri, is to offer iron ore at Iran Mercantile Exchange. Shakouri believes that doing so can help correct the unbalanced prices in the domestic market while assisting the sector with exports.

However, iron ore was Iran’s third nonfuel mineral export during the first four months of the current Iranian year (March 20-July 20) as more than 5.7 million tons worth $227.2 million were sold abroad, up 69% in volume and 86% in value compared to last year’s corresponding period.

Source : Financial Tribune

Bijlage:

voda 24 augustus 2016 16:58

0

Iron ore mines closure has left 2000 jobless in Noamundi - Labour inspector

Labor inspector Prabhat Tiwary said that the closure of 22 Iron ore mines in Noamundi has made 2000 workers in the area Jobless.

Referring to the official records, inspector informed that indirectly thousands of people in the region are suffering from joblessness due to the closures of Iron Ore mining operation.

Inspector Tiwari didn’t informed about the whereabouts of the workers as he has no intimation from the mining leases.

The Mining operation is closed for around three years and government and Mines lease owners have not yet been able to come to effective conclusion as to when the mining operation would start.

The people simply presume that mining operation would resume soon . The closures of Mining operation has affected the iron ore business and government is losing revenue.

Source : Avenue Mail

voda 24 augustus 2016 17:02

0

China sovereign fund to pursue USD 9billion Vale iron ore streaming deal - Report

Bloomberg reported that China Investment Corp. is leading a Chinese investor group in talks for an iron ore streaming deal worth as much as $9B with Brazil’s Vale (VALE -2.8%).

According to the report, some Chinese companies and Japanese trading houses have also held discussions with Vale about possible deals, including acquiring a minority stake in Brazilian iron ore assets owned by the company.

A streaming deal would allow China to profit from a recovery in commodity prices without bearing all the operational risk associated with owning mines, while Vale would get immediate cash while staying in charge of valuable assets.

The world's top iron ore producer Vale (NYSE:VALE) is getting closer to inking a commodity streaming deal with Chinese companies that could afford the Brazilian giant an up to $9 billion upfront payment.

Bloomberg reported over the weekend a deal with China Investment Corp, the country's $814 billion sovereign wealth fund, could see Vale sell part of its future iron ore output to the Chinese over 30 years: "These deals are usually done at a deep discount to ruling prices and the long-term nature of any agreement could also dampen the outlook"

According to the report citing people familiar with the matter other Chinese companies and Japanese trading houses have also held discussions with Vale and considered alternative agreements including acquiring a minority stake in the company's iron ore assets: "A so-called streaming transaction would allow CIC, owned by the government of the world’s biggest iron-ore importer, to profit from a recovery in commodity prices without bearing all the operational risk associated with owning mines. Vale, which has said it will consider the sale of $10 billion of its best assets by the end of next year, would get immediate cash while staying in charge of valuable assets."

Hit by its first annual loss since 1997, the Rio de Janeiro-based company said in February it wants to reduce its net debt to $15 billion within 18 months and would look at selling core assets to do it. The Samarco dam collapse in November last year, which killed 19 people and became Brazil’s worst environmental disaster, is also weighing down the company as the operation remains suspended.

The impact of a Vale–China deal on the iron ore price could be negative as these deals are usually done at a deep discount to ruling prices and the long-term nature of any agreement could also dampen the outlook for the steelmaking raw material.

Iron ore prices have defied skeptics and continues to trade above $60 a tonne on the back of record-breaking imports by China this year. Cargoes headed to China could top 1 billion tonnes this year, representing some three-quarters of the seaborne trade, as domestic production continues to shrink.

Source : Bloomberg

voda 24 augustus 2016 17:03

0

Rio Tinto celebrates 50 years today since first contracted shipment of iron ore set sail in Japan

Published on Tue, 23 Aug 2016

Today marks 50 years since Rio Tinto’s first contracted shipment of our iron ore departed Dampier for the Yawata Iron and Steel Company in Japan.

Ahead of this milestone, thousands of Australian contractors and suppliers laid almost 300 kilometres of railway, moved 12 million cubic metres of earth and rock and installed 300,000 tonnes of plant and equipment.

The company also built the towns of Dampier and Tom Price, and dredged a port to accept the largest ore carriers of the day.

Mr Chris Salisbury, Rio Tinto Iron Ore chief executive said that “When the MV Houn Maru set sail 50 years ago nobody could have predicted that Pilbara iron ore would underpin Australia’s economic growth.

Mr Salisbury said that “The Pilbara’s vast iron ore deposits, and the people who developed them, have helped build modern Australia and some of the world’s leading economies.”

He said that “Over the past 50 years Rio Tinto has invested more than $37 billion to grow our Pilbara operations. We now employ 12,000 people who operate our network of mines, rail and ports, and sell our iron ore to customers all around the world.”

He added that “The relationships formed with local Pilbara communities, community and government partners, Traditional Owners, and business partners and customers have been vital to our success.”

He further added that “Rio Tinto is proud to be part of Western Australia’s transformation where new communities have been created, world-leading technology developed and international relationships forged.”

Source : Strategic Research Institute

voda 25 augustus 2016 16:44

0

Chhattisgarh power tariff cut for steel industry hurts Maharashtra mills

Business Standard reported that Chhattisgarh government’s decision to reduce power tariff for industry has allegedly come as a shock for the secondary steel makers in neighbouring state of Maharashtra.

Following the fall in demand and high running cost, over 100 mini steel plants in Chhattisgarh had cut short the production over last many months that finally culminated in complete shut down on August 1. The mini steel plants across Chhattisgarh remained close for over a fortnight before the state government announced to curtail power tariff for the industry. The average per unit power tariff for the industry was reduced by INR 1.40 per unit and would remain effective till March 2017.

The annual production output from secondary steel makers in the state had been about 4 million tonnes. Of which, about 25 per cent steel is consumed in the state’s domestic market. Since, the steel makers were not fulfilling the domestic demand, steel from Maharashtra started coming to the local market.

A senior state government official told Business Standard that “When the local industrialists gave presentation to the state government for bringing down power tariff, they cited that steel from Maharashtra was capturing the Chhattisgarh market that had posed threat for their survival.”

Source : Business Standard

voda 25 augustus 2016 16:45

0

Nippon Steel and Sumitomo Metal seeks advisers for split of Usiminas – Report

Reuters, citing two people familiar with the matter, reported that Nippon Steel and Sumitomo Metal Corp is working on a plan to split Usinas Siderúrgicas de Minas Gerais SA into two separate units, in a last ditch attempt to end a two-year battle with Techint Group for control of the Brazilian steelmaker.

As per report the Japanese mining and steel giant is looking for financial and legal advisers to work on the plan, which has been touted since March

Under terms of the plan, Nippon Steel would get the 5 million-tonne-per-year Ipatinga mill, the first person said. Techint Group, the other controlling shareholder of Usiminas, with which Nippon Steel has been at loggerheads since September 2014, would get the Cubatão mill, which has annual capacity of 4.5 million tonnes, the same person added.

Italy's Techint may discuss a split if the plan forms part of an effort to end the shareholder dispute, the second person said. As an alternative to the asset split, Techint is in favor of adding a clause to their shareholder agreement allowing it or Nippon Steel to exit Usiminas under some conditions, the same person said.

The split plan was backed by Paulo Penido, the former Usiminas chairman close to the Nippon Steel camp who passed away earlier this month, the people said. Yoichi Furuta, Nippon Steel's top Brazil executive, said in July that a split-up of the Ipatinga and Cubatão mills remained an option to resolve the ongoing dispute over Usiminas.

Source : Reuters

voda 25 augustus 2016 16:49

0

CSC to cut HR, CR and HDG prices for Oct-Nov due to anti-dumping tax in US

Taipei Times reported that Taiwanese steel giant China Steel Corp said that it would lower prices by 1.3 percent per tonne on average for October and November shipments in response to a US anti dumping tax on steel products made in Taiwan.

Under its adjustment plans, China Steel is to lower the price of its products by NT$235 per tonne for October and November contracts. Hot-rolled sheets and coils, the company’s major products, are to see prices drop by NT$586 per tonne, while cold-rolled sheets and coils will see prices decrease by NT$163 per tonne. The price of hot-dipped zinc-galvanized products will be cut by NT$65 per tonne, the company said.

Mr Chiu Shuenn-der AVP for its commercial division said “We hope to help enhance the price competitiveness of downstream companies in the local industry by cutting prices.”

Mr Chiu said local companies that ship corrosion-resistant steel products to the US are under immense pressure from the anti-dumping tax. He said that the tax resulted in an additional cost of US$60 per tonne on average

Last month, the US government raised an anti-dumping tariff on five Taiwanese companies, including Yieh Phui Enterprise Co, Prosperity Tieh Enterprise Co and Synn Industrial Co, from 3.77 percent to 10.34 percent.

Source : Taipei Times

voda 25 augustus 2016 16:51

0

South Africa puts end to flat steel import parity pricing of ArcelorMittal

Published on Thu, 25 Aug 2016

BD Live reported that South Africa’s Department of Trade and Industry has struck a deal with ArcelorMittal SA that will see the steel producer remove import-parity pricing with immediate effect. The agreement has been long in the making, and was strengthened by the record ZAR 1.5 billion fine ArcelorMittal was slapped with this week by the Competition Commission for its anti competitive pricing policies.

The government targeted import-parity pricing, in terms of which ArcelorMittal based its domestic prices on international steel prices, because it has led to high input prices and harmed the competitiveness of the downstream industry.

While the international steel price has slumped recently due to a glut, the agreement will ensure that domestic prices do not rise on an import-parity basis when the international steel price increases in future.

The pricing principles will apply only to flat steel products, which have more added value than long products and also because there is more competition in the latter market.

1. They would be based on an import-weighted average basket (excluding Russia and China) of products that SA competed against. The basket is the EU (50%), Asia (30%) and the North America Free Trade Area plus Brazil (20%).

2. Global steel indices will be used and agreed-on benchmarked prices will be added onto the hot roll coil base price to calculate base prices for other flat steel products.

3. Agreed-on averages not exceeding 11% overall will be used to calculate extras.

4. Flat steel pricing it will be done using a transparent mechanism based on forecast basket prices and the rand-dollar exchange rate assuming a one month forward. The announced and published price will include the settlement discount, which is currently 2.5%

A steel committee, under the auspices of the International Trade Administration Commission, would monitor the import-weighted basket and compliance by ArcelorMittal with the pricing mechanism for all flat steel products.

Source : BD Live

voda 25 augustus 2016 16:57

0

Tata Steel starts ferroshots exports to Thailand

Business Standard reported that Tata Steel has started exports of ferroshots from its steel plant at Kalinganagar in Odisha. Ferroshots, granulated pig iron, is a new product that has been launched by the company from its Kalinganagar plant in March this year.

Mr Rajiv Kumar, vice-president (operation) at Tata Steel’s Kalinganagar plant, flagged off the first export consignment to Thailand

Tata’s ferroshots find wide application in electric arc furnaces, induction furnaces, cupolas, basic oxygen furnaces and foundries as a replacement of pig iron or scrap. Its inherent properties lead to better yield, higher productivity and lower energy cost. Besides, the process of manufacturing is safe and environment friendly, said the release.

Source : Business Standard

voda 25 augustus 2016 16:58

0

Odisha needs massive infrastructure investment to support for steel sector – KPMG

Business Standard reported that Odisha which is emerging as the steel manufacturing hub of the country, requires a total investment of INR 1,200 crore towards infrastructure development to develop a full-fledged ecosystem for downstream steel industries. Though Odisha has a nameplate capacity of 21 million tonne annually in steel making, hardly 2.6 million tonne is consumed within the state. The consumption of finished steel points to the lack of downstream industries despite the presence of steel majors like Tata Steel, Jindal Steel & Power Ltd, Jindal Stainless Ltd and Bhushan Steel.

A report by KPMG has spelt out the roadmap for development of a downstream steel ecosystem in Odisha. This can be achieved with investment in basic infrastructure creation, supply commitments to downstream units and tax concessions.

KPMG in a report on 'Odisha Industrial Development Plan 2025' prepared jointly with state-owned Industrial Policy and Investment Corporation of Odisha Ltd said "Being mostly clustered in districts like Jharsuguda, Sundragarh, Sambalpur, Jaipur, Jagatsingpur, Angul, Dhenkanal and Keonjhar, Odisha should develop downstream parks with mother plants, at all these major steel producing destinations in the next 10 years to ensure value addition happening with the state.”

It has suggested establishment of six downstream steel parks at Jharsuguda, Rourkela, Barbil, Paradip, Sambalpur and Dhenkanal for greater value addition of steel within the state with supplies of molten material from the mother plants. KPMG has recommended an investment of Rs 1,200 crore by the state government towards infrastructure development and pegged the land requirement at 3,000 acres with 500 acres of land in each of the six locations.

KPMG has suggested that the state government should bring in a mechanism to enable commitment from the anchor units for supplying of atleast 20 per cent of the intermediate or finished products to the downstream industries in the state.

The report says existing equipment and machinery manufacturers in the state should be encouraged to procure at least 20 per cent of their components from the downstream and ancillary industries within Odisha.

Source : Business Standard

voda 25 augustus 2016 16:59

0

JSW Steel & Essar Steel turn focus to logistics to bulwark operating margins

Business Standard reported that with realisations continuing to be muted, JSW Steel and Essar Steel are increasingly focusing on lowering expenses and has identified logistics as one of the major areas where costs can be curtailed to safeguard operating margins. Companies were looking to switch to cheaper modes of transportation, depending on the geographical presence of their facilities within the country.

Mr Seshagiri Rao, managing director and group chief financial officer, JSW Steel said “Logistics cost in our country is very high. To become more competitive in this market, it is important to lower cost.”

He said “We have plans to switch to coastal transportation, from road, at present, and use bigger capesize vessels for carrying material. But with the Railways hiking coal freight by nearly 19 per cent, our plan to increase reliance on railways from roadways will be hit badly.”

Currently, the logistics and transportation segment forms around 15-20 per cent of JSW Steel’s total expenses.

Mr Vikram Amin, executive director, strategy & business development, Essar Steel said “Since all our plants are port-based, we are switching to coastal shipping instead of railways to transport finished goods in the southern and eastern region. For transportation of finished goods in the northern part of the country, we will move to using railways instead of roadways,” said

Essar Steel plans to lower its logistic costs by one per cent, from the current four to five per cent towards outgoing transportation of finished goods.

Source : Business Standard

Vertraagd	10 feb 2025 17:39
Koers	27,200
Verschil	-0,160 (-0,58%)
Hoog	27,230
Laag	26,360
Volume	3.104.041
Volume gemiddeld	2.536.810
Volume gisteren	7.160.096

07:11	Trump dreigt met importheffingen op s...
09 feb	ArcelorMittal en Aperam weekwinnaars
07 feb	Deutsche Bank verhoogt koersdoel Arce...
06 feb	Beursblik: ArcelorMittal overtreft ve...
06 feb	AEX opent waarschijnlijk hoger. Let o...	2
06 feb	ArcelorMittal ziet verlies afnemen	1
05 feb	Beursblik: beter vierde kwartaal bij ...
03 feb	Deze 5 aandelen kunnen deze week voor...
03 feb	Video: optimisme beursexperts volledi...	1
03 feb	Beursblik: optimisme beursexperts vol...

Arcelor Mittal « Terug naar discussie overzicht

Nieuws en info hier plaatsen (deel 4)

Meedoen aan de discussie?

Direct naar Forum

Detail

ArcelorMittal nieuws