Eurobench.com

voda 4 januari 2017 16:55

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Metinvest Trametal CEO Mr Spotorno killed in accident on Mont Chetif in Italy

ANSA reported that Mr Bruno Spotorno, 51 year-old CEO of Metinvest Trametal, as tragically lost his life on December 30 in a high altitude accident on Mont Chetif, peak of 2343 meters overlooking Courmayeur in Italy.

The cases are still being studied by investigators, but the preliminary reports of the Mountain Rescue of Entreves financial police the man would have lost his balance during the descent on the southern slope of the peak falling on deaf ears for at least 400 meters.

Mr Spotorno he began his professional career in the world of steel in 1994 with the Arvedi Group and later joined Metinvest Trametal where in 2006 he became managing director of the Italian branch of the group.

Source : ANSA

voda 4 januari 2017 16:55

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Brazil imposes duties on imports of high carbon PC strand from China

BNAmericas reported that the Brazilian government's foreign trade chamber Camex decided to impose temporary antidumping duties on high-carbon Pre-stressed concrete strand from China following an investigation started in July.

Duties of between US$351.30/t and US$562.70/t will be introduced immediately for a period of six months.

A group of Chinese producers, including Silvery Dragon and Global Overseas Group, are among those affected by the measure, according to Camex.

A relative dumping margin of about 119% for the Chinese producers was detected by Camex, the report said.

Source : BNAmericas

voda 4 januari 2017 16:56

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Iron and steel leads revival in engineering exports

Economic Times reported that according to an analysis of November 2016 data by EEPC India, a renewal in demand from export markets like Nepal, Belgium, Spain and China has contributed to a revival in India’s engineering exports led by steel sector.

EEPC India said in a statement that "With this iron and steel sector, which has been facing faced tough times in the past several months, is now seeing a reversal of fortunes at least in some of the key markets in Europe and in our neighbouring countries.”

While Nepal showed an impressive four fold growth to USD 39 million in November 2016 from about USD 10 million in the same month a year ago. Likewise, shipments to Belgium went up more than three times to USD 52 million from USD 17 million in November 2015.

Mr T S Bhasin chairman of EEPC India said that “The interesting part is that demand for iron and steel has started rising in China which shows the slowdown in the Chinese economy must be bottoming out. Iron and steel exports from India to China went up by 86% to USD 41 million for November this fiscal from USD 22 million in the comparable month of 2015.”

Source : Economic Times

voda 4 januari 2017 16:57

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Evraz deal may lift struggling metals sector in South Africa – Mr Klerk

Business Live reported that ArcelorMittal SA’s announcement just before Christmas that it had concluded a contract manufacturing agreement with the defunct Evraz Highveld Steel & Vanadium group in Emalahleni was the sour cherry on top of a dismal year for SA.

ArcelorMittal SA CEO Wim de Klerk said "Long-term sustainability for the sector means ensuring the continued supply of product to our customers and the downstream industry, job preservation and strengthening the local industry. We are confident that, with this agreement, we are able to achieve all three.”

Russian-backed Evraz Highveld is in a protracted business rescue process that will ultimately lead to it being sold off in chunks as it is wound down. It will now through its subsidiary Highveld Structural Mill process blooms and slabs supplied by ArcelorMittal into heavy structural steel. The steel is to be used in large infrastructure projects and construction works such as shopping malls.

The deal between what was once SA’s second-largest steel producer and the industry’s remaining monopoly player, ArcelorMittal SA, a subsidiary of the global ArcelorMittal group, is still subject to certain conditions precedent. But once in effect, it will result in the reopening of Evraz Highveld’s heavy section mill by the business rescue practitioners.

Source : Business Live

Bijlage:

voda 4 januari 2017 16:57

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Indian steel sector to get support from banks - Steel Secretary

Reuters, citing India’s steel secretary, reported that India's steel sector, which accounts for INR 1.3 trillion (USD 19.06 billion) of bad debt in the banking sector, is likely to get some relief from banks working on a proposal,

Steel Secretary Ms Aruna Sharma told Reuters "A formula has been worked out by the banking system. Now, it is between individual banks and companies engaged in the talks. This will help relieve the stress a little bit.”

Ms Sharma ruled out an earlier proposal from banks that involved SAIL taking over the assets of a debt-laden company.

Source : Reuters

voda 4 januari 2017 16:58

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Mr Trump names Mr Lighthizer as US trade representative

Reuters reported that US President elect Mr Donald Trump has named Mr Robert Lighthizer, a harsh critic of China's trade practices, to be his chief trade negotiator, responsible for better deals aimed at reducing US trade deficits.

Mr Trump, who promised during his presidential campaign to renegotiate international trade deals like NAFTA and punish companies that ship work overseas, said in announcing his choice that Lighthizer would help fight for good trade deals that put the American worker first.

He said "Lighthizer is a former deputy US trade representative under former Republican President Ronald Reagan who helped to stem the tide of imports from Japan in the 1980s with threats of quotas and punitive tariffs.”

His return to the agency follows nearly three decades as a lawyer representing US steelmakers and other companies in anti-dumping and anti-subsidy cases.

Mr Lighthizer has argued that China has failed to live up to commitments made in 2001 when it joined the World Trade Organization and that tougher tactics are needed to change the system, even if it means deviating from World Trade Organization rules.

Source : Reuters

Bijlage:

voda 4 januari 2017 16:59

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Indian steel ministry seeks lower import taxes on raw materials

Reuters, citing India’s steel secretary, reported that India's steel ministry wants lower import taxes on a number of key steelmaking raw materials, including nickel, to protect the domestic industry from the rising costs of basic resources and that the Finance Minister Arun Jaitley could announce some of these measures when he presents his annual budget for the 2017/18 fiscal year on February 1.

The finance ministry could even scrap the current 5 percent import duty on nickel, largely used in stainless steel production,

Steel Secretary Ms Aruna Sharma told Reuters "Nickel is not present in India at all, so our argument is there is no point in having the customs import duty on it. There is a case to do away with it.”

Source : Reuters

Bijlage:

voda 4 januari 2017 17:00

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China to hike power prices for out dated steel equipment - state planner

Local media reported that China has toughened its tiered electricity pricing to deter outdated steel producers and advance capacity cuts. According to the website of the National Development and Reform Commission, The measure, effective since January 1 2017, will raise the extra price paid by outdated steelmakers by 66.7% to CNY 0.5 (about 7 U.S. cents) per kWh.”

Outdated steelmakers are those scheduled to be phased out

Producers that have not met capacity-cut goals on time face the same penalty as those to be phased out, while those in the "restricted" category will continue to face an additional 0.1 yuan per kWh of electricity.

Local authorities are allowed to expand the price gap even further, the NDRC said.

Since 2004, the NDRC has implemented a three-tier pricing system for eight major energy-intensive industries, including steel-making, categorizing the players as "encouraged," "restricted" or "outdated." The incentive is considered conducive to the country's capacity cuts and supply-side reform.

Source : China.org.cn

voda 4 januari 2017 17:01

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Operating conditions in China improve in December at quickest pace in nearly four years

Manufacturing companies in China reported the strongest upturn in operating conditions since January 2013 at the end of 2016. Production expanded at the fastest pace in nearly six years, supported by a solid

Source : Strategic Research Institute

voda 4 januari 2017 17:02

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ArcelorMittal Kryvyi Rih steel production crosses 7 million tonne mark after 7 year

ArcelorMittal Kryvyi Rih has boosted steel smelting by over 15% in 2016, to 7 million tonnes. The enterprise met the 2016 target and broke a record of the past years smelting 7 million tonnes, earlier the company smelted this volume in 2008.

It said “The target of 7 million was an ambitious goal. The enterprise met it thanks to effective operation of all divisions of ArcelorMittal Kryvyi Rih.”

It added “In 2017 the enterprise will continue implementing large-scale investment projects that would help to reduce production cost, increase effectiveness of production and improve the environment situation in Kryvy Rih and the region.”

Source : Interfax

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voda 4 januari 2017 17:06

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Excess supply in China is a worry in 2017 - Mr Seshagiri Rao

Mr Seshagiri Rao, JMD of JSW Steel, spoke to Business Line on the way ahead for steel industry in India

Q - How do you see the coming year for the steel industry?

A - The World Steel Association has estimated steel demand for 2017 to be higher by 0.5 per cent, mostly driven by revival in advanced economies and emerging economies excluding China. While the excess steel supply in China remains a worry for this year, Indian steel demand is expected to be better due to expected increase in government infrastructure projects outlay.

Q - How was last year for the industry?

The year 2016 started with bleak outlook, when steel prices fell below $300 per tonne due to dumping of steel by China, Japan, Korea and others. There was a smart recovery in prices from March driven by a huge infrastructure stimulus package announced by the Chinese government. Many countries including India initiated remedial actions to stop unfair trade that necessitated the Chinese government to announce a stimulus package to spur domestic demand. India’s steel demand was sluggish in the first half of 2016. Construction activities remained subdued due to water shortage and monsoon from July to September. When it was anticipated that good monsoon and 7th Pay Commission revisions would spur consumption and domestic demand, there was deferment in demand due to demonetisation.

Q - Your demand growth expectation for the industry?

A - Once normalcy is restored on remonetisation, the deferred demand is expected to come back. This along with higher outlays on infrastructure spending by the government will lead to robust steel demand this year.

Source : Business Line

Bijlage:

voda 4 januari 2017 17:15

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Mining companies using Robots to Mine 24 Hours a day

Mining company Rio Tinto has 73 of these titans hauling iron ore 24 hours a day at four mines in Australia’s Mars-red northwest corner. At this one, known as West Angelas, the vehicles work alongside robotic rock drilling rigs. The company is also upgrading the locomotives that haul ore hundreds of miles to port the upgrades will allow the trains to drive themselves, and be loaded and unloaded automatically.

Rio Tinto intends its automated operations in Australia to preview a more efficient future for all of its mines one that will also reduce the need for human miners. The rising capabilities and falling costs of robotics technology are allowing mining and oil companies to reimagine the dirty, dangerous business of getting resources out of the ground.

BHP Billiton, the world’s largest mining company, is also deploying driverless trucks and drills on iron ore mines in Australia. Suncor, Canada’s largest oil company, has begun testing driverless trucks on oil sands fields in Alberta.

Mr Herman Herman director of the National Robotics Engineering Center at Carnegie Mellon University in Pittsburgh said that “In the last couple of years we can just do so much more in terms of the sophistication of automation.” The center helped Caterpillar develop its autonomous haul truck. Mining company Fortescue Metals Group is putting them to work in its own iron ore mines. Mr Herman said that the technology can be deployed sooner for mining than other applications, such as transportation on public roads. He said that “It’s easier to deploy because these environments are already highly regulated.”

Rio Tinto uses driverless trucks provided by Japan’s Komatsu. They find their way around using precision GPS and look out for obstacles using radar and laser sensors.

Mr Rob Atkinson, who leads productivity efforts at Rio Tinto said that the fleet and other automation projects are already paying off. The company’s driverless trucks have proven to be roughly 15 percent cheaper to run than vehicles with humans behind the wheel, says Atkinson a significant saving since haulage is by far a mine’s largest operational cost. He said that “We’re going to continue as aggressively as possible down this path.”

Trucks that drive themselves can spend more time working because software doesn’t need to stop for shift changes or bathroom breaks. They are also more predictable in how they do things like pull up for loading. “All those places where you could lose a few seconds or minutes by not being consistent add up,” says Atkinson. They also improve safety, he says.

The driverless locomotives, due to be tested extensively next year and fully deployed by 2018, are expected to bring similar benefits. Atkinson also anticipates savings on train maintenance, because software can be more predictable and gentle than any human in how it uses brakes and other controls. Diggers and bulldozers could be next to be automated.

Herman at CMU expects all large mining companies to widen their use of automation in the coming years as robotics continues to improve. The recent, sizeable investments by auto and tech companies in driverless cars will help accelerate improvements in the price and performance of the sensors, software, and other technologies needed.

Herman says many mining companies are well placed to expand automation rapidly, because they have already invested in centralized control systems that use software to coördinate and monitor their equipment. Rio Tinto, for example, gave the job of overseeing its autonomous trucks to staff at the company’s control center in Perth, 750 miles to the south. The center already plans train movements and in the future will shift from sending orders to people to directing driverless locomotives.

Atkinson of Rio Tinto acknowledges that just like earlier technologies that boosted efficiency, those changes will tend to reduce staffing levels, even if some new jobs are created servicing and managing autonomous machines. He said that “It’s something that we’ve got to carefully manage, but it’s a reality of modern day life. We will remain a very significant employer.”

Source : Technology Review

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voda 4 januari 2017 17:17

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Japan concern at iron ore handling - MMTC chief

Express News Service reported that chairman and managing director of Metals and Minerals Trading Corporation Limited Mr Vedprakash said that the Japanese delegation was very much concerned at the implementation of assurances in cargo handling. They were very keen on the quality of the iron ore and its purity. They would take it very seriously if there is any drop in quality.

Mr Vedprakash on Monday visited Visakhapatnam Port Trust. On his arrival, the VPT arranged a meeting with the ESSAR Port Limited delegates. On the occasion, Vedprakash said that the supply of quality iron ore would be prestigious and face saving issue.

The Japanese were very much concerned about the ore handling and if it is not improved it may derail the agreement. The CMD advised ESSAR to take every possible effort by closely monitoring the works in the next two or three months to ensure better performance.

Source : Express News Service

Bijlage:

voda 4 januari 2017 17:18

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Kumba director steps down

Kumba Iron Ore said that Litha Nyhonyha resigned as an independent non-executive director at the end of last month. In a statement issued on Tuesday, the listed company says Nyhonyha joined the board in 2011, and during his tenure, has served as the chairman of the Risk Committee, and as a member of the Audit Committee and the Nominations and Governance Committee.

Mr Fani Titi chairman said that “On behalf of my fellow directors and the management team, I express my sincere appreciation to Litha for the invaluable contribution he has made during his tenure. We wish him well for the future.”

This news follows that in the middle of last year that Themba Mkhwanazi was to step into the role of CEO from September.

Source : IOL

Bijlage:

voda 4 januari 2017 17:19

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Many uncertainties lie ahead in 2017 for Rio Tinto and BHP Billiton

The Australian reported that in 2016 commodities started the year with a whimper and ended with an unforeseen bang. This year their price paths are even less predictable, with a host of competing tensions.

We’ll get some insight into how confident, or otherwise, the world’s biggest resource companies are about the sustainability of the surge in prices and demand that occurred in the second half of last year when, first, Rio Tinto and then BHP Billiton report their full-year and interim results early next month.

It was almost a year ago that both companies abandoned their progressive dividend policies in favour of payout ratios of roughly half their underlying earnings, with the flexibility to supplement the conventional dividends with capital management or supplementary dividends.

The unexpected windfall from the significant rise in commodity prices particularly for iron ore, coal and oil in the second half of 2016 will have generated a surge in underlying earnings for all the big resource companies. How Rio and BHP deal with the “windfall’’ could provide some understanding of their levels of confidence that the five-year recession in the industry has ended.

In their recent public commentaries both groups have tended to be quite conservative about the industry outlook and their plans.

Rio has embarked on some significant investment programs the Oyu Tolgoi underground project in Mongolia, the USD 1.9 billion Amrun bauxite project in Queensland and the USD 700 million Silvergrass iron ore project in Western Australia but new chief executive Jean-Sebastien Jacques has said the group could be “boring’’ for quite some time.

BHP is even more introspective, with Andrew Mackenzie focused on capital-light brownfields investment that could yield very significant volume and productivity gains from the group‘s existing asset base. For USD 1.5 billion, he has said, BHP could lift copper-equivalent production volumes about 10%.

The obvious way for the miners to view the second half bounce in prices is with some scepticism, using the earnings boost to pay down some debt. To the extent that it might be shared with shareholders, a conservative approach would be to include an element of “special’’ dividend a one off or a modest share buyback.

Source : The Australian

Bijlage:

StuYa 4 januari 2017 21:41

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Merci Voda voor alle info, werk jij toevallig voor beursduivel.be ? Ik zie praktisch enkel berichten bijna van uzelve. Bedankt alvast!

voda 5 januari 2017 16:35

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quote:
Yannickos schreef op 4 januari 2017 21:41:
Merci Voda voor alle info, werk jij toevallig voor beursduivel.be ? Ik zie praktisch enkel berichten bijna van uzelve. Bedankt alvast!

Graag gedaan. En nee, ik gewoon een particulier die een vaste baan heeft (al ruim 34 jaar). Pas na 4 uur begin ik op de IEX. (Beetje uit de hand gelopen hobby) :-)

RRPP 5 januari 2017 16:40

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maar ruim 166.000 posts Voda, hoezo uit de hand gelopen?

voda 5 januari 2017 16:52

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Yazd Rolling Mill doubling iron ore beneficiation plant capacity to 1 million tonnes

Financial Tribune reported that Iranian longs steel producer Yazd Rolling Mill is expanding iron ore processing, considering the country’s rising demand for high-quality raw materials. Established in 1980 in Yazd Province, Yazd Rolling Mill plans to ramp up iron ore concentrate production because of the expansion of the beneficiation plant’s capacity from 500,000 to 1 million tonnes per year, Metal Expert learnt from a mill representative.

In addition, the company is building one more 1 million tonne-per-year plant in another province. Once the investment program is completed, the mill’s iron ore processing capacity will be nearly 2 million tonnes per year. Production at the new facilities is scheduled to start in May-June 2017.

By the end of the current Iranian year (March 20, 2017), the company plans to expand pellet production to 1 million tonnes per year. To this end, the mill is upgrading a pelletizing plant (400,000 tonnes per year) purchased in the autumn of 2015.

Source : Financial Tribune

Bijlage:

voda 5 januari 2017 16:53

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Mood upbeat for steel plant in Bayyaram - Report

Deccan Chronicle reporte that the long standing dream of the locals for a major industry in Bayyaram is raising hopes of fulfillment with the recent announcement made by minister for information technology and urban development K. Taraka Rama Rao. During the current Assembly session, he made it clear that the state government is determined towards completing this project.

Under the AP Reorganisation Act, the Union government had promised Telangana state that a steel plant would be established by Steel Authority of India Limited by exploiting the iron ore mines at Bayyaram.

Iron ore deposits in abundance can be found at the hillock on the outskirts of Bayyaram village. Geology survey of India and the Singareni Collieries Company conducted a survey with a task force committee on the iron ore deposits found in the area. Early reports suggested the iron found in the place was of poor quality with less than 60 per cent ferrous found in the ore.

However, minister KTR has said the state government is making all efforts to clear the deficit and make the area fit for a steel plant. Iron ore mined from Chhattisgarh could be brought and mixed with the ore here. The GSI has previously said it would submit its final report by mid-2017.

Source : Deccan Chronicle

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