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[verwijderd] 18 januari 2017 13:52

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Beursblik: Commerzbank zet ArcelorMittal op kooplijst
Woensdag 18 januari 2017 10:42
Koersdoel ook flink omhoog.
(ABM FN-Dow Jones) Commerzbank heeft woensdag het advies voor ArcelorMittal verhoogd van Houden naar Kopen en stelde het koersdoel opwaarts bij van 6,50 naar 9,50 euro.
De analisten van de Duitse bank schroefden hun winstverwachtingen voor dit jaar op, vanwege de recente stijging van de staal- en grondstofprijzen. De hogere kosten voor grondstoffen zullen volgens de marktvorsers worden doorberekend aan klanten in de meeste regio's. Omdat ArcelorMittal zelf ook grondstoffen produceert zal de impact voor de onderneming op het bedrijfsresultaat (EBITDA) positief zijn.
De outlook voor de korte termijn verbeterde volgens Commerzbank flink, ook vanwege de lage voorraadniveaus en de politieke bereidheid om het dumpen van staal door met name China tegen te gaan.
Nu gaan de marktvorsers ervan uit dat de vrije kasstroom van de staalgigant dit jaar tussen de 1,5 miljard en 2,0 miljard dollar zal uitkomen.
Er is nog veel onduidelijkheid over de plannen van de nieuwe aanstaande Amerikaanse president Donald Trump over zijn investeringen in de Amerikaanse infrastructuur, maar Commerzbank gaat hoe dan ook uit van een groeiende vraag naar staal in Europa. Wat betreft de staalverzendingen in de vrijhandelszone van Amerika, Canada en Mexico zien de analisten een "onevenredig hoog groeipotentieel".
ArcelorMittal heeft vorig jaar zijn balans versterkt door nieuwe aandelen en desinvesteringen. Een hervatting van dividenduitkeringen zou volgens Commerzbank mogelijk zijn, evenals meer investeringen. Toch denken de marktvorsers dat de staalboer voor het moment terughoudend zal zijn met kapitaaluitgaven.
Op een groene beurs steeg het aandeel ArcelorMittal woensdag met 1,8 procent op 7,66 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
January 18, 2017 04:42 ET (09:42 GMT)

voda 18 januari 2017 16:32

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Nippon Steel & Sumitomo Metal mulls exiting Usiminas - Report

Reuters citing a senior executive reported that Nippon Steel & Sumitomo Metal Corp does not rule out discussing with partner Ternium SA an amendment of an existing shareholder accord giving them the possibility of exiting Brazilian steelmaker Usinas Siderúrugicas de Minas Gerais SA

Source : Reuters

voda 18 januari 2017 16:33

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Mozambique Transport Minister calls on Indian Steel Minister

IBNS reported that Mr Carlos Alberto Fortes Mesquita, Transport Minister, Mozambique called on Union Steel Minister Chaudhary Birender Singh at Udyog Bhawan. He was accompanied by senior officials from Mozambique government. Union Minister of State Vishnu Deo Sai, Secretary, Steel, GOI, Dr. Aruna Sharma and other senior officials were present during the meeting.

Chaudhary Birender Singh welcomed the visiting delegation and thanked them for all the support extended to India business interests in Mozambique.

He highlighted how rich natural resources of Mozambique and demand potential in India could be mutually beneficial.

The Steel Minister sought further support from the Mozambique government through tariff and non-tariff measures for facilitating achievement of economies of scale by Indian companies like ICVL present there.

Carlos Alberto Fortes Mesquita assured all possible help from the Mozambique government. He remarked that inspite of challenging geopolitical environment, the Mozambique government is very clear of its long-term vision and the strategy to achieve it.
Source : IBNS

voda 18 januari 2017 16:33

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Rising steel scrap prices put squeeze on Japan EAF based steelmakers

Nikkei reported that steel scrap prices has jumped in price to a roughly two-year high on strong overseas demand driven by a weak yen and a rebound in steel prices in China, putting Japan's electric-furnace steelmakers in a tight spot. Domestic demand for scrap is weak, but that has not stopped prices from surging 80% over the past year in Japan to reach a per-ton price of JPY 27,500 (USD 241) charged to electric-furnace steelmakers in the Kanto area surrounding Tokyo.

Oversupply by China had kept scrap prices on ice through the spring of 2016, but in the fall it became clear that the steel market was bottoming out, and that triggered a rebound for scrap, too.

In China, prices for semi-finished billets used as a substitute for scrap began to rise sharply, and the high prices scared away Southeast Asia's electric-furnace steelmakers. Steelmakers from Vietnam and South Korea turned to Japanese scrap, which thanks to the weak yen they viewed as a relative bargain.

Japan's scrap exports rose a year-to-year 10% in January-November to about 7.9 million tons and are expected to have topped 8 million tons for all of 2016, a level not seen in three years.

Also contributing to the rise in scrap prices is the high cost of coking coal and other raw materials used to make steel in blast furnaces. To reduce their use of expensive coal, blast-furnace steelmakers are using a greater percentage of scrap. In October alone, some 900,000 tons of scrap was used in blast furnaces, the largest amount in 29 months.

Japan's electric-furnace steelmakers are taking the brunt of it. Scrap inventories in the Kanto region stood at an estimated 120,000 tons at the end of 2016, which is below the 150,000 tons considered desirable. Scrap suppliers, anticipating a further rise in prices, are sitting on their shipments, according to the scrap procurement officer at one electric-furnace steelmaker that is not receiving the supplies it anticipated.

Source : Nikkei

voda 18 januari 2017 16:35

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Indian steel ministry examining possibility of steel units residual gases to produce clean energy

Money Control reported that India’s steel ministry is exploring the possibility of converting residual gases from steel units to produce renewable power as part of the government’s focus on shoring up clean energy supplies. Residual gas from coke ovens, as well as blast furnaces in integrated steel plants, can be converted into clean energy

The idea still at a nascent stage and the ministry will take it up with government-backed think tank NITI Aayog, as well as the power ministry to work on its feasibility.

The steel ministry has also taken up the key inter-ministerial policy-related issues with NITI Aayog, with topics ranging from railway freight rates to removal of coking coal from clean energy cess.

The think tank is examining these issues and would present its views soon.

Source : Money Control

voda 18 januari 2017 16:36

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No distress sale of SAIL units VISL, SSP & ASP - Steel secretary

PTI reported that Indian government will not go in for distress sale of three SAIL subsidiaries Salem Steel Plant, Visvesvaraya Iron and Steel and Chandrapur Ferro-Alloy and rather look for a management that will turn around the units. Steel Secretary Aruna Sharma told PTI "None of these plants we will like to put as a distress sale. We will like them to come into profit and better management.”

She told "When I am talking of making the share of the government 49 per cent, it is only when we get a good management. If not, there is no point it will take off on its own.”

She further said that as of now, there is no proposal of strategic disinvestment for more units of SAIL. She said "It much depends on what experience we gain here (from the strategic sale of three units of SAIL).”

She added "This announcement of strategic disinvestment means a minimum of 51 per cent. So, it all depends on efficiency and it is subject to many things. It is under very initial stages. Now as guided by Department of Investment and Public Asset Management, we will appoint somebody to do the evaluations. There are still a lot of processes it has to undergo.”

Earlier, the government had in-principle approved strategic disinvestment of SAIL's Bhadrawati, Salem Steel Plant and Durgapur Alloy Steel Plants. SAIL had earlier said the government will hold auction to identify strategic buyers.

Source : PTI

voda 18 januari 2017 16:37

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Pakistan approves PSM restructuring

Pakistan’s Privatisation Commission board has approved the restructuring of Pakistan Steel Mills as well as a tripartite concession agreement between the government, the mill and the potential investor for a period of 30 years on the basis of revenue-sharing.

The board gave the go-ahead to the transaction structure proposed by the financial advisers for the restructuring of the steel mill.

The transaction structure, which will be presented to the Cabinet Committee on Privatisation (CCoP) in coming days, includes a tripartite concession agreement between the government, PSM and the investor for 30 years based on revenue-sharing. Under the plan, PSM land will remain with the government while its plants and machinery will be handed over to the buyer for a maximum of 30 years. No asset of the mill will be sold.

The PC board also approved the transaction structure of SME Bank including the sale of 93.88% government shareholding.

In line with the proposed structure, the State Bank of Pakistan will allow a reduced minimum capital requirement (MCR) of Rs6 billion over a period of five years, with Rs2 billion upfront and Rs1 billion each for the next four years.

The central bank will issue a new specialised banking licence to the potential investor with at least 60% advances for the small and medium enterprise (SME) sector and also allow 10% Capital Adequacy Ratio (CAR) for five years after privatisation.

Source : The Tribune

Bijlage:

voda 18 januari 2017 16:38

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Chinese steel reform gets goal-driven - Report

ECNS reported that China’s top leaders wrapped up the three-day Central Economic Work Conference. At the tone-setting meeting, policy-makers mapped out policy stances for the country’s economic development in 2017. China Daily analyzes the tasks and challenges China will face in 2017, to provide an insight into how the world’s second-largest economy will tackle the thorny restructuring and reform challenges. China will enact stricter rules for trimming steel overcapacity in 2017 after making significant progress in 2016, according to experts.

According to the China Iron and Steel Association, Capacity reduction goal for 2016,45 million tonnes, was reached in October. Large and medium-sized steel smelters achieved CNY 28.7 billion profits in the first 10 months of the year, compared with a loss of 38.5 billion in the same period in 2015. However, approximately 27 percent steel companies are still running at a loss.

What makes the matter even more challenging is that the estimated demand in 2017 is 660 million tons, down by 1.5 percent YoY, according to the China Metallurgical Industry Planning and Research Institute.

Mr Li Xinchuang, president of the China Metallurgical Industry Planning and Research Institute, said “Although steel prices in 2016 rebounded by a large margin and last year’s capacity reduction goal was reached two months ahead of the deadline, the profitability in the industry has not been restored. The return on sales has only exceeded 1 percent, far below the average industrial return on sales in the country.”

Mr Xu Shaoshi, chairman of the National Development and Reform Commission, said that cutting excess production capacity will be a priority for the commission’s work in 2017. The commission made a statement in December after its annual work conference that it will continue to push supply-side reform, including cutting overcapacity, destocking, deleveraging, reducing corporate costs and shoring up weak links in the economy.

The central government has taken more measures to deter the act of bringing outdated capacity back on stream. In December, the Central Committee of the Communist Party of China and the State Council penalized two steel companies in Jiangsu and Hebei provinces for producing substandard steel and building factories that had yet to be approved. Two deputy governors of the two provinces have been held accountable and 138 people involved in the cases were punished.

Source : ECNS

Bijlage:

voda 18 januari 2017 16:39

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Irish steel shed firm creates over 40 jobs as part of €5m investment

Independent.ie reported that Galway based Steeltech Sheds are planning the major expansion following substantially growth in the company domestically last year. The EUR 5 million investment and the creation of 43 jobs follows the announcement of 50 available roles at the company in 2016.

Over the next three years, Steeltech will see funding in capital, people, IT, innovation, R&D and sales and marketing. The investment is expected to allow the firm to scale significantly over the next decade.

Mr Sean Brett Founder & CEO of Steeltech Sheds said that “This is a very exciting time for Steeltech Sheds. Since the relocation to the new Tuam manufacturing plant in 2015, we have increased productivity by 90pc, created 50 new jobs in 2016, and have expanded our export reach and operations into the UK and Northern Ireland market. Over the last three months, we have set up sales show rooms in five locations in the UK and all manufacturing from UK sales will take please here in Tuam.”

Mr Brett continued that “Steeltech is thankful for the support Enterprise Ireland has given to date and I look forward to working with them as we expand and grow in the UK and Europe.”

Steeltech will employ over 170 people in Tuam when the latest roles are filled in the coming months.

Source : Independent.ie

voda 18 januari 2017 16:40

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Police investigating death at Veritas Steel

WAUSAU Daily reported that police are investigating the death of a person Sunday at a factory. An autopsy is scheduled to take place Tuesday in Fond du Lac, Marathon County Medical Examiner Jessica Blahnik said. Blahnik said she could not confirm any information beyond a work related death occurred at Veritas Steel, 3526 W. Sherman Street, Wausau.

Ms Blahnik said that the Marathon County Sheriff's Department is investigating the death. No one at the department could be reached for comment Monday afternoon.

Source : WAUSAU Daily

voda 18 januari 2017 16:41

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Deadly Incident at Bucks County Steel Facility

Published on Wed, 18 Jan 2017

NBC Philadelphia reported that police respond to a deadly incident at a Bensalem, Pennsylvania steel facility. A Bucks County industrial incident left a person dead Monday. Bensalem Police said that The deadly incident played out around noon at Samuel Grossi & Sons along State Road in Bensalem.

Police didn’t reveal any further details and there was no update from Grossi.

At 20 tonnes of steel annually, Grossi claims it’s the largest fabricator and erector of steel in the Philadelphia region.

Source : NBC Philadelphia

voda 18 januari 2017 16:42

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AISI update on Raw Steel Production in US in Week 02

In the week ending January 14, 2017, domestic raw steel production was 1,716,000 net tons while the capability utilization rate was 72.3 percent.

Source: Strategic Research Institute

voda 18 januari 2017 16:44

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Scrap prices increase in Europe

Italian and French scrap prices are rising by €20-25/tonne ($21.3-26.7/t) month-on-month after merchants requested €35-40/t hikes which mills are still unwilling to support. This should soon translate into hikes for some long products despite weak demand for rebar especially in Italy, Kallanish hears from market sources.

Market participants in Italy, Germany, France and Spain are looking at Turkish transactions to be able to forecast their own end-January and February prices. Turkish buyers however have not purchased significant quantities, especially from the US, over the past three weeks.

In Italy the price range for scrap grade E8 (new arisings) was €240-250/t delivered for the highest grades in December, and is now at €255-265/t delivered. Shredded E40 is currently in short supply and is at €260/t delivered on average. However, “… the ones who have it and can guarantee a significant supply can easily obtain €270/t delivered,” an informed source says.

Demolition quality E1, also in very short supply, is now at €230-250/t delivered. The lower quality demolition E3 is now at €220-230/t delivered, sources suggest. French scrap prices are at approximately the same levels, allowing for €10/t less on average for lower transport costs within the country.

Source: Kallanish.com

voda 18 januari 2017 16:45

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China steel futures and iron ore pull back

Seaborne iron ore prices dipped on Tuesday as Chinese futures prices pulled back from Monday’s sharp increase. Prices are moving faster than fundamentals however, as the flow of speculators in and out of the market creates volatility.

The Kallanish index for 62% Fe Australian fines dipped $1.61/tonne to $81.18/dry metric ton cfr Qingdao. 170,000 tonnes of PB fines sold in a tender at $81.31/t with a laycan in 29 January-7 February, down from a deal at $82.68/t the previous day.

The May rebar contract on the Shanghai Futures Exchange closed down CNY 18/tonne at CNY 3,194/t ($463/t), after hitting a low of CNY 3,167/t. The same contract for hot rolled coil dropped CNY 38/t to CNY 3,566/t. Spot traders meanwhile were holding their offers steady but still expected prices to continue to increase.

The drop in futures prices may have been more the result of speculators being scared away from the market and a correction after Monday’s spike than fundamentals. Tuesday saw rebar trades fall to 3.84 million contracts, compared to 4.38m on Monday.

Source: Kallanish.com

voda 18 januari 2017 16:46

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Kardemir opens rebar sales, billets still closed

Turkey's Kardemir has reopened its domestic rebar sales at increased prices, following the sharp currency fluctuation last week, while keeping billet sales closed, Kallanish notes.

The integrated long steelmaker's 12-32mm diameter rebar and 12-18mm dia round bar prices have gone up each by TRY 42/tonne to TRY 1,610/t ($427/t) and TRY 1,627/t respectively, with effect from 17 January. The company had closed its rebar sales on 11 January.

Kardemir's wire rod prices have also increased by TRY 80/t to TRY 1,720-1,750/t.

Pig iron prices have risen to TRY 1,170-1,380/t, depending on grade, from the TRY 1,065-1,275/t range set in the previous, 6-January price list.
Prices of profiles, equal angles and GI sections have each increased by TRY 100/t to TRY 1,695-1,950/t, TRY 1,820-2,130/t, and TRY 1,875-1,900/t respectively. All of Kardemir's prices are ex-works and exclude VAT.

Local peer Icdas also opened its domestic longs sales on 16 January with a TRY 80/t increase in prices (see related article).

Kardemir's domestic billet sales remain closed since 9 January.
The lira reached a new record low of 3.94 against the dollar earlier last week, after slipping to more than 3.6 per dollar in the first week of January. The Turkish central bank's announcement last week of interventions to boost the value of the currency had momentarily strengthened the lira. Analysts expect the currency to remain under pressure until the end of constitutional reform in the country.

Source: Kallanish.com

voda 18 januari 2017 16:47

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Antwerp port boosts ferrous throughput in 2016

The port of Antwerp, one of the main transport hubs for ferrous metals in Europe, saw its throughput of steel and scrap increase significantly last year. This supported the hub’s overall expansion in 2016, Kallanish learns from the port authority.

The port handled over 1 million tonnes of scrap, up 6.5% year-on-year while movements of steel finished products reached 7.7mt, up 12.8% y-o-y.

Europe saw an increase in scrap exports to Turkey and other destinations in 2016, while the continent also increased significantly its imports of steel products, according to data from Eurofer.

Iron ore throughput at the port fell by -10.5% y-o-y to 2.1mt suggesting slightly lower activity from integrated mills’ imports of raw materials through Antwerp. Coal handled reached 1mt, down more significantly by -34.2% on-year.

The ferrous business at the port grew stronger than that for other sectors. The port handled 214mt of cargoes in total during 2016, up 2.7% y-o-y.

Source: Kallanish.com

voda 18 januari 2017 16:48

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Slab import prices increase in Southern Europe

Slab import prices into Southern Europe are increasing compared to the end of November. February prices are also expected to gain a further $10-20/tonne (€9.3-18.7/t) on average compared to the current month, market sources tell Kallanish.

The latest Southern European slab import transactions reached $400/t cif last month for very large buyers and $430/t for smaller quantities. Now producers are asking $450-460/t cif Southern European port while some producers from the CIS regions are offering $440/t cif to Turkey. European buyers are receiving offers from Iran and Brazil. The latest offer from Brazil was at $440/t fob, Kallanish hears.

The problem faced by some European buyers however is that the current high quotations for slab are not being converted into heavy plate price increases due to weak final demand. Prices for heavy plate remain stable but at low levels in Italy.

Commentators are however forecasting further upticks in slab import prices in Q1. Market sources polled by Kallanish however, believe that Southern European buyers and re-rollers will limit their purchases until domestic heavy plate transaction prices rise.

Source: Kallanish.com

voda 18 januari 2017 16:49

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Shagang to cut 1500 jobs through intelligent manufacturing

Eastern China steelmaker Shagang is investing in automation of its processes to cut labour costs. Major Chinese steelmakers have been turning to intelligent manufacturing as a way to control costs and boost efficiency, Kallanish notes.

Shen Bin, the chairman of Jiangsu Shagang Group, says Shagang intends to replace 1,500 employees though automation before the end of 2020. "We have piloted several plants and gained some experience, intelligent manufacturing is a continuous process, once there is a new technology released we will keep conducting pilot tests.”

Shen adds that in 2017 Shagang is promoting intelligent manufacturing by improving mechanisation, automation and information systems. “In 2017 one of our priorities is to make internal research institutions more productive by setting key performance indicators (KPIs), and linking them together with researchers’ salary and subsidies,” says Shen.

Baosteel will try to turn itself into an intelligent manufacturing centre within 10 years, it says. By the end of 2021 over 1,000 new Baosteel robots could replace over 2,000 positions currently filled by humans (see Kallanish 24 November 2016). Hebei Iron & Steel group’s Tanggang has also agreed to cooparate with Siemens and Primentals to develop intelligent manufacturing.

Source: Kallanish.com

voda 18 januari 2017 16:51

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UAE market offers mixed view on trade law

The United Arab Emirates’ proposed law on trade defence is unlikely to result in an increase in trade cases in the near future, UAE trading sources tell Kallanish. Mill sources are more expectant, however.

The draft law was approved last week by UAE’s Federal National Council and is awaiting ratification by the country’s president before it is enacted into law.

A UAE economy ministry source tells Kallanish the law will allow domestic industry to petition authorities for antidumping, countervailing and safeguard investigations into imports that are alleged to be causing injury. If injury to domestic industry is proven, “…it is therefore possible to impose antidumping or countervailing duties in the form of customs duties to offset the unfair trade practice and to remedy the effects of the injurious practice to the domestic industry,” the source says.

Any trade investigation will have three steps. The Directorate of Antidumping at the Ministry of Economy conducts the investigation and then forwards its findings to the national committee on injurious practices in international trade. The committee reviews the findings and makes recommendations to the economy minister who is mandated to take the final decision.

Exactly how this will change the procedure already in place in UAE for conducting trade defence investigations is unclear. This procedure is already provided for in the Gulf Cooperation Council Common Law on Antidumping, Countervailing and Safeguard Measures, issued in 2003 and ratified by UAE in 2005. This stipulates the GCC’s Permanent Committee conducts the investigation and imposes preliminary duties, while its Ministerial Committee imposes definitive duties.

It appears as if the new law, then, is tailored specifically to the UAE’s requirements and allows the country to conduct investigations individually from the GCC. However, this is yet to be confirmed. In late 2015 UAE informed the WTO it was working on a federal law which incorporates the GCC common trade defence law.

A UAE trader says the proposed law is “… more or less in line with something that Saudi has… GCC Customs have wide powers, including imposing coercive duties as well simply seizing goods. I doubt if a trade investigation would ever happen.” Another trader says the proposed law is “…just a PR exercise,” while a number of other sources had not even heard of the law.

Local mill sources, however, see it differently. “I would not be so sure that no change will occur,” one says. “Local mills are pushing very hard for some protection. It could be that these new laws drafted are just a prelude to some action taking place.” Another opines: “For sure it will affect all origins of imported steel.” The jury remains out.

Source: Kallanish.com

voda 18 januari 2017 16:52

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thyssenkrupp develops new steel for can lids

thyssenkrupp says it has improved the properties of tear-off lids of tin cans with a material it calls ‘Solidflex’, the company tells Kallanish.
The material has been developed for production at tk’s tinplate unit tk Packaging Materials, formerly known as Rasselstein in Andernach. The function of tear-off lids needs to make contrary properties converge, tk stresses. The metal part has to be soft and flexible in order to press the ring upward, yet at the same time hard and solid, so that the connection to the lid holds.

“Solidflex takes the DR (double reduced) hardness standard one step further with a tensile strength of 700 MPa instead of the previous 580, even with an extended elongation of between 5 and 10%,” explains Burkhard Kaup, the company’s material technology manager in Andernach.

The greater hardness of the material also influences the tear-off behaviour on the lid rivet. Thus the user's application of force is reduced. A thickness reduction to 0.18mm instead of the previous 0.21mm with diameters greater than 73mm is possible with the new grade, tk says. Applications that can profit from the additional potential are the bottoms and domes of aerosol containers, and conveyor chains.

Source: Kallanish.com

Vertraagd	6 mrt 2025 17:37
Koers	32,170
Verschil	+2,000 (+6,63%)
Hoog	32,180
Laag	30,780
Volume	8.534.283
Volume gemiddeld	2.867.370
Volume gisteren	9.002.030

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