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Tata Steel sells China arm Kalzip Guangzhou for EUR 5.2 million

Times Of India reported that TATA Steel has sold its Chinese unit, Kalzip Guangzhou, to Shanghai Qinheng International Trade Company for EUR 5.2 million (INR 36 crore). Tata Steel said that the sale agreement with Shanghai Qinheng was entered last November and that the transaction was completed on March 29.

Kalzip reported an operational loss of 1.15 million euros in fiscal 2016. Its turnover stood at 2.26 million euros during the same period. Kalzip is yet another divestment of Tata Steel's loss-making overseas ventures. In the recent past, the BSE-listed company sold some of its UK businesses to Liberty House and Greybull Capital.

Source : Times of India
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POSCO plans to invest USD 2.2 billion to diversify company portfolio

Korea Joongang Daily reported that Korea’s largest steelmaker Posco, unveiled plans to invest KRW 2.5 trillion (USD 2.2 billion) to diversify the company’s portfolio, with the goal of achieving KRW 5 trillion in operating profit by 2019. Posco CEO Kwon Oh-joon at a forum in Yeouido, western Seoul said that “We will sustain growth by digitalizing our business platforms and services for the next 50 years. We will establish smart factories, buildings and cities in hand with our affiliates in response to quickly changing industry paradigms.”

As the steel industry faces headwinds due to protectionist policies worldwide and heated competition, Posco said it aims to find new “growth engines” by combining its manufacturing expertise with internet communications technology. It wants to operate smart factories based on Internet of Things and big-data technology. The company expects long-term cost reduction and quality improvement by shifting to smarter facilities.

For building and cities, this means design errors are likely to be minimized in the construction process through the help of new technologies in big data and artificial intelligence. The steelmaker’s affiliates, Posco Engineering & Construction, Posco Energy and Posco ICT, will be taking part in establishing smart factories, buildings and cities.

Apart from making overall businesses smarter, Posco said it wants to diversify its products in both steel and non-steel sectors. One high-potential business includes extracting lithium from saltwater and battery waste to meet growing demand for lithium in electric-car batteries. Another is developing magnesium sheets that are expected to go in high-end cars in the future. To increase lithium production, Posco in February established a production facility capable of making 2,500 tons of lithium a year.

Posco set KRW 11.2 trillion as the revenue target for these new businesses by 2025 and said it would invest KRW 2.5 trillion over the next three years. Boosted by these businesses, the steelmaker is forecasting total operating profit in 2019 to jump to KRW 5 trillion from KRW 2.8 trillion last year.

The company also released its tentative first-quarter business performance report. Posco posted KRW 6.99 trillion in revenue, a 21% increase from last year, and 740 billion won in profit, a 27% jump.

Source : Korea Joongang Daily
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Lack of transparency in AK Steel agreement - Legislators

Press and Guide reported that AK Steel’s Dearborn Works plant could be the recipient of a multimillion dollar legacy tax credit if the company works out a deal with the Michigan Economic Development Corporation. The brownfield tax credits originally were awarded to the plant’s previous owner, Severstal, and legislation that would have allowed AK Steel to claim the credits from the Michigan Economic Growth Authority died in the State Legislature last year.

But the MEDC is now considering awarding both MEGA and brownfield credits without legislative approval, and a bipartisan group of state representatives are speaking out. They say that by going around the legislature, the company may avoid answering questions about environmental protections for surrounding neighborhoods.

State Rep. Abdullah Hammoud (D-Dearborn) is among the legislators calling for more transparency in the negotiations, along with State Reps. Stephanie Chang (D-Detroit), Pete Lucido (R-Shelby Township) and Martin Howrylak (R-Troy). Mr Hammoud said that “I understand that AK Steel has made positive strides compared to the previous owner, both in their community efforts and with actions to address emissions. That being said, residents of Dearborn have real concerns about air quality and the detrimental impact it has on public health and the environment.”

He added that “I am severely disappointed that we were prevented from working to address the concerns of residents. Unfortunately, this term we weren’t given the chance, as elected representatives of our communities, to publicly discuss or work on this issue legislatively.”

Mr Chang added that residents of her district “deserve transparency and a public process in which they can engage, ask questions, and share concerns, especially when it comes to giving away their taxpayer dollars to a corporation that is one of the known polluters in the area.”

Even more concerning, according to Chang, is that it’s not known if the tax break would come with the environmental equipment upgrades or accountability included in the bills from the last legislative session. She said that “My residents, and all Michiganders, deserve better than this.”

MEDC spokesperson Emily Guerrant said they currently are evaluating if and how the MEGA tax credits could be transferred to AK Steel. Ms Guerrant said that “We are also working with the Legislature on what the solution or outcome might be.”

AK Steel’s Dearborn Works plant sits on a more than 350-acre site with operations that include carbon steel melting, casting, hot and cold rolling and finishing operations. Previously owned by Russian steelmaker Severstal, the plant was sold for USD 700 million to Ohio-based AK Steel Corporation in 2014. Over the years, the Dearborn steel plant has been known as one of the state’s worst air polluters, making it the focus of state officials and the media regarding its air emissions. People living in Dearborn and southwest Detroit have long been concerned about air pollution from the plant.

The communities part of a wider area designated as the “epicenter of asthma burden” by the Michigan Department of Community Health have a long history of enduring the impact of heavy industrial pollution.

In 2015, AK Steel Corporation paid USD 1.35 million penalty for past violations of the Clean Air Act at the Dearborn facility, to implement a variety of procedures to reduce future violations and install dynamic air filtration systems at the Salina Elementary and Salina Intermediate Schools across the street from the plant.

Source : Press and Guide
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China Iron and Steel paints bearish picture for iron ore producers

The China Iron and Steel Association has painted a challenging picture for Australia's iron ore producers, arguing Chinese steel demand has entered an "era of reduction" and will decline in 2017. CISA represents China's biggest state-owned steel mills and generates forecasts used by Beijing to help formulate its five-year plans. Speaking at an iron ore conference in Perth on Thursday, CISA vice president Li Xinchuang said China's steel industry had transitioned from a period of expansion to an "era of reduction" which would see the country's steel demand decline 1.9 per cent in 2017 to 660 million tonnes.

Mr Li, who is also the head of China's top planning body for its metals industries, the China Metallurgical Industry Planning and Research Institute, has long-clashed with iron ore heavyweights BHP Billiton and Rio Tinto over their forecasts that Chinese steel production will continue to grow.

CISA argues China reached peak steel consumption in 2014 at 702 million tonnes and, despite a slight increase in 2016, it would gradually decline to about 490 million tonnes by 2030.

Mr Li said that "We think Chinese steel production will decrease step by step. How much gross steel we can produce will depend how much we can export."

China is working to remove overcapacity in its steel industry to improve performance, which Mr Li said was already showing some "positive results" with a return to profitability but "still has a long way to go.”

CISA forecasts another 50 million tonnes of steelmaking capacity to be removed in 2017.

But despite the reductions, Mr Li said the Chinese market would still require large volumes of iron ore which would be served mainly by imported "seaborne" ore.

The CISA official said the iron ore market would remain in oversupply as seaborne producers ramped up volumes and higher iron ore prices lured Chinese domestic iron ore producers back into the market.

Source : AFR
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Iron ore levy would have threatened projects – WA minister

The West reported that WA’s new miner and petroleum minister Bill Johnston has said the Nationals' proposed levy on big miners would have threatened new projects.

The newly-appointed minister told the WA Mining Club he welcomed support from BHP Billiton for the Labor government for its opposition to the new tax.

BHP iron ore boss Edgar Basto said the massive USD 2.4 billion South Flank project could advance under a new era of stability.

Mr Johnston said without continued investment, there would be no future for the sector.

He said that the McGowan Government was keen to see South Flank and other major mining developments proceed. Mr Johnston said that "If we had a mining tax, those projects would all be at risk.”

The WA Nationals, led by Brendon Grylls, campaigned for a USD 5 a tonne levy to be imposed on Rio Tinto and BHP Billiton in the lead up to this month’s State Election.

The proposal was opposed by both major parties and raised the ire of the mining lobby, which launched an expensive advertising campaign against the proposed levy.

The campaign was widely believed to be a factor in Mr Grylls losing his Pilbara seat.

The minister also spoke about “rogue elements” taking advantage of the industry-funded Mining Rehabilitation Fund.

He said the government didn't want funds shifted to people who didn't have the long term interests of the State at the front of their minds.

Mr Johnston did not give an example of those rogue elements. However, responsibility for the $40 million rehabilitation of the Ellendale diamond mine was dumped on the fund last year, when the company which owned the mine, Kimberley Diamonds, called in administrators.

Source : The West
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BHP to push ahead with mine after ore levy defeat

The West Australian reported that BHP Billiton will push ahead with a multibillion-dollar Pilbara iron ore mine because WA has returned to a more stable investment environment after the State election.

Iron ore boss Edgar Basto said the rejected WA Nationals plan for a USD 5 a tonne levy had jeopardised the South Flank development by making it less competitive with rival projects in the BHP portfolio.

Mr Basto said that “That was going to, in a way, to wait on that decision. The fact that we don’t have that (levy) is going to be a big plus in terms of how does the project stack up compared with other projects in our portfolio.” He said that in a meeting with BHP officials after the election, Premier Mark McGowan had ruled out new imposts on miners.

Mr Basto on the sidelines of the Global Iron Ore & Steel Forecast Conference said that “The people of Western Australia sort of dismissed the potential policy for an additional tax and they showed it in the way they voted at the last election.”

He added that “Those are good signals that sort of tell you that people understand how important the industry is for the region.”

The mining lobby’s expensive campaign against the proposed levy on BHP and Rio Tinto was a factor in then Nationals leader Brendon Grylls losing his Pilbara seat. The party has retained the policy.

The 80 million tonnes-a-year South Flank project is proposed to replace BHP’s Yandi mine near Newman when it becomes depleted over the next five to 10 years.

Mr Basto told the conference the investment case was strong for developing the deposit. He said that “The return of a more stable investment environment in WA helps build our confidence to make this significant investment. While this project is still in study phase, if approved by the board, it will see development of the world’s largest iron ore mining and processing centre located next to billions of tonnes of high-grade resources.”

BHP is yet to put a price on the project. Mr Basto said the cost would be covered under the miner’s long-term average sustaining capital cost of USD 4 a tonne produced at its WA mines, or more than $1 billion a year. The average is being reassessed.

A JP Morgan research note released yesterday estimated the cost of South Flank to be about USD 2.4 billion, or about $US30 a tonne spread over five years.

Source : The West
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BC Iron urges juniors to be mindful of USD 40 per tonne era

BC Iron managing director Mr Alwyn Vorster said that Australia's junior iron ore miners should only invest in new projects that can withstand a return to USD 40 per tonne iron ore prices, as strong prices lure a raft of smaller local players to consider new investments.

After crashing to below USD 40 per tonne in 2015 and 2016, iron ore prices have staged a surprising recovery to USD 81 per tonne, allowing even the most marginal Australian producers to make a profit.

The gradual increase in prices has given juniors the confidence to consider new projects, expansions and even restarts, with BC Iron, Atlas Iron, Mount Gibson Iron, Cliffs Natural Resources and Mineral Resources all planning to invest in new production.

But Mr Vorster said the sharp decline in prices should stand as a lesson to the sector. He said that "The price volatility has been very hard.”

Mr Vorster said that "The key lesson for companies like BC Iron and I would expect Atlas and other junior miners would be we can only plan new projects if we have very competitive cost structures. Gone are the days we could plan – and I remember it very clearly through 20 years of iron ore experience – where all of our projects were pitched at an USD 80 to USD 90 per tonne iron ore price. Well now if you are not confident you can make money at USD 40 to USD 45 then you should not even consider opening a new iron ore deposit."

BC Iron is working to lower the cost of its new development project, Buckland, to ensure it can withstand prices as low as $US40 per tonne, with Mr Vorster telling an iron ore conference in Perth on Wednesday the project being able to make money at $US60 per tonne was "not good enough".

Atlas Iron, one of the most high profile casualties of the iron ore price slide, is rebuilding its business and needs to bring on new deposits to replace its ageing Abydos and Wodgina mines.

Its initial target will be the $53 million Corrunna Downs project, expected to produce ore at a C1 or cash cost of $37 to $43 a tonne.

The company's new managing director Mr Cliff Lawrenson told that "These [investment] decisions have become harder and harder…I do think big projects will still get away but I think it is much harder. So I think smaller projects and the re-emergence of juniors who are able to be more agile and flexible and put more tonnage into production will become increasingly important."

Mr Lawrenson said Atlas needs around a USD 51 to USD 52 per tonne iron ore spot price to be profitable and while he believed the price could sink back to that level, "the big correction has taken place" and there is likely to be more stability in pricing going forward.

Source : AFR.com
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Gina Lopez may have violated Mining Act

The Philippine Star reported that Philippine embattled environment secretary Gina Lopez has ordered suspended mining companies to put up non-government organizations for the rehabilitation of affected areas – an apparent violation of the 1995 Mining Act.

Ms Lopez issued a memorandum dated Jan. 30, 2017 to Mines and Geosciences Bureau director Mario Luis Jacinto in response to the request of some mining contractors to be allowed to remove their nickel stockpiles to prevent damage to the environment.

Those who oppose Lopez’s appointment as secretary of the Department of Environment and Natural Resources (DENR) pointed out that the order is separate from the existing rehabilitation trust fund set up by the government as required under Article 71 of Republic Act 7942 and DENR Administrative Order 2010-10.

Some mining firms have questioned the memo for being redundant and burdensome, since most of them mine large tracts of land.

Sources said that suspended mining firms are also required to deposit P1 million to the fund for every vessel of ore shipped out, which is not a requirement before a mineral ore export permit is granted.

The mining firms who followed the DENR on the trust fund were likewise subject to the guidelines set by Lopez, including the setting up of an NGO, its members, recipients of the trust fund and the drafting of all company documents.
Headlines ( Article MRec ), pagematch: 1, sectionmatch: 1

Industry sources lamented that with the order, mining companies are virtually turned into dummy firms as Lopez will have to approve board resolutions, establishment of the trust fund, organization of the trust fund recipient NGO and drafting of company documents.

They also claimed that environment undersecretary Philip Camara asked a suspended mining firm to hire a lawyer from a favored outfit to handle all documents pertinent to the trust fund and its recipient NGO, including the provision that in the event of a corporate failure, the entire fund would be turned over to the Natural Resources Development Corp. and the Philippine Forest Corp., both under the DENR.

They said Ms oLpez was virtually amending the law in forcing companies to put up another trust fund and deciding how and to whom the funds should be used.

Ms Lopez’s memo ordered all suspended mining firms to each open a trust fund account in the amount of P2 million per every hectare of disturbed land before they could be allowed to remove their stockpiles from mining areas and given export permits.

The memo was one of the documents submitted to the Commission on Appointments by those objecting to Lopez’s confirmation to show that she has been ignoring the law in running the DENR.

Ms Lopez ordered the suspension of 10 mines last year and the closure of 23 others following an audit that was questioned by the industry as well as by some Cabinet officials.

The suspended firms are reported to have been required to put up trust funds ranging from as low as P150 million to as high as P300 million, depending on the volume or area of affected mining sites, before they are allowed to remove their stockpile and be issued a MOEP.

Some mining firms complied and were allowed to export the nickel ores, which is expected to boost global supply of the raw metal.

The Commission on Appointments recently bypassed Lopez owing to the numerous objectors to her appointment.

Earlier this month, a graft complaint was filed against her before the Office of the Ombudsman for allegedly lobbying with the Department of Energy to award a $100-million contract to a French company, EcoGlobal Inc. – With Jess Diaz, Louise Maureen Simeon, Elizabeth Marcelo.

Source : Phil Star.com
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El Salvador approves law to prohibit metals mining

Today Online reported that El Salvador's Congress approved a law that prohibits all metal mining projects, in a bid to protect the poor Central American nation's environment and natural resources.

The new law, which enjoyed cross-party support from 70 lawmakers, blocks all exploration, extraction and processing of metals, whether in open pits or underground. It also prohibits the use of toxic chemicals like cyanide and mercury.

Source : Today Online.com
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Vietnamese steel demand to double over 2020-2035

Vietnam is likely to become a growing centre of Asian steel exports in the coming years but the key focus for local firms is on booming domestic demand. This view was presented by Trinh Khoi Nguyen, deputy general director of the Vietnam Steel Corporation (VSC), to delegates at the Kallanish Asia Steel Markets conference in Ho Chi Min City last week.

According to a draft plan being reviewed by the Ministry of Industry, Vietnam’s steel consumption per capita could reach 285 kg/person in 2020 and 543 kg in 2035. That will leave total steel consumption surging from 22.58 million tonnes in 2016 to 27mt in 2020 and 56.7mt in 2035.

Steelmaking capacity meanwhile will surge from 32.3 million tonnes/year in 2020 to 66.3m t/y in 2035, according to projects reviewed by the ministry. Almost all the addition will come from blast furnace-basic oxygen furnace capacity, with its share increasing from 65% in 2020 to 83% of total capacity. Slab casting capacity is expected to increase from 0% currently to 32% in 2020 and 53% in 2035.

This investment in capacity will also have a significant impact on Vietnam’s steel imports as more slab and hot rolled coil can be sourced domestically. Exports meanwhile should grow significantly. Vietnamese exports rose 18.1% in 2016 to over 4mt, of which finished steel product exports were up 30% to 3.48mt.

Although demand is increasing and many capacity projects are planned. Existing capacity could have a hard time competing, VSC notes. Small and outdated plants that are currently operating may be forced out of the market or merge into larger groups.

Source: Kallanish.com
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Aperam rondt desinvestering aantal Franse activiteiten af

Ruim zestig miljoen euro aan omzet verkocht.

(ABM FN-Dow Jones) Aperam heeft de verkoop van een fabriek voor roestvrijstalen buizen in het Franse Ancerville en een distributiecentrum in Annecy aan Mutares afgerond. Dit maakte de producent van roestvast staal dinsdag voorbeurs bekend.

Het gaat in dit verband om de begin januari dit jaar aangekondigde desinvestering van Stainless Services & Solutions Tubes Europe, goed voor een omzet van 64 miljoen euro en een productie van 22.000 ton in 2016.

Het aandeel Aperam sloot maandag op een rood Damrak 0,3 procent lager op 46,69 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
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WTO sets up panel to resolve steel dispute with India, Japan

PTI reported that WTO's dispute settlement has set up a panel to resolve the dispute between Japan and India over imposition of safeguard import duty on iron and steel products. As both the sides failed to resolve the issue in the bilateral consultation process, Japan had sought formation of dispute resolution panel.

An official said "The dispute settlement body of the WTO has agreed to establish the panel.”

Japan in December dragged India to the WTO against certain measures taken by New Delhi on imports of iron and steel products. Japan had alleged that duties imposed on steel imports by India violated WTO trade norms.

In September 2015, India imposed provisional safeguard duty of 20 per cent on import of certain categories of steel with a view to protect domestic producers. Later in November last year, the government slapped the final duty.

Source : PTI
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Iranian steel export in 11 months surges by 108% YoY

Financial Tribune that Iranian steelmakers exported about 4.87 million tons of steel products during the 11 months to February 18, the latest data by Iran Steel Producers Association showed. About 3.22 million tons of semisl were exported during the period, registering a 108% rise YoY. The export of finished steel products, however, dropped 16% to reach 1.64 million tons.

Semi-finished casting products, including billets, blooms and slabs, had the lion’s share of exports in the steel sector. Over 1.89 million tons of blooms and billets were shipped abroad during the period, marking a 29% growth YoY. Slab exports surged by a staggering 1,416% to 1.33 million tons.

Hot-rolled coils were the next in line. Over 1.02 million tons of HRC were exported, indicating a 27% drop. Rebar exports followed with 234,000 tons, mbeams with 178,000 tons, cold-rolled coils with 147,000 tons, coated coils with 26,000 tons and other steel products with 37,000 tons.

With the exception of HRC and rebar, all other products recorded a solid growth in shipments–CRC exports nearly doubled.

Source : Financial Tribune
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Ukraine sees 8% decline in steel output in Jan-Mar 2017 - Ukrmetprom

Unian reported that according to the Ukrmetprom (formerly Metallurgprom) association of Ukrainian steel producers, Ukraine smelted 5.6 million tonnes of steel in January-March 2017, which was 8% down YoY.

The total production of metal rolled products over the period under review also decreased by 8%, to 4.9 million tonnes, while pig iron output shrank by 14%, to 5.05 million tonnes.

Coke production fell by 21% in the first three months of 2017, to 2.6 million tonnes.

As UNIAN reported earlier, Ukraine produced 24.2 million tonnes of steel in 2016, which was 6% up on 2015. Production of metal rolled products rose by 6%, to 21.41 million tonnes, while pig iron output rose by 8%, to 23.59 million tonnes. Coke output increased by 10% in 2016, to 12.73 million tonnes.

Source : Unian
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Taiwanese China Steel Corp shrugs off threat of US anti dumping duties on CTL steel plates

Taipei Times reported that Taiwanese makers of carbon and alloy steel cut to length plates are facing US anti dumping taxes ranging from 3.62% to 6.95%. An official at Kaohsiung-based China Steel, which could face anti-dumping taxes of 6.95% said the ruling would not have a significant impact on the company.

A company official said that “We have stopped shipping those products to the US since the second quarter of last year.”

The official added that “We now sell most of our CTL plates to Taiwanese customers in the machinery and construction industries.”

The local steel producers targeted by the US Department of Commerce include Shang Chen Steel Co Ltd and China Steel Corp, the nation’s largest and only integrated steelmaker.

According to US Customs and Border Protection data, steelmakers from the eight countries shipped a total of 935,888 tonnes of products to the US last year. The data showed that Taiwanese steelmakers sold 24,665 tonnes to the US during the period.

Source : Taipei Times
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Tata Steel to boost productivity in 2017-18 -Mr TV Narendran

Avenue Mail reported that ushering into new financial Year 2017-18 Tata Steel managing director Mr TV Narendran said that the company is hopeful that the steel consumption will grow by 5 to 6% in FY 18 and will help company to grow further. He said that the Union Government is spending on infrastructure like roads, bridges and rural electrification and this will help to increase steel consumption. Mr Narendran noted that “We are confident that domestic consumption will go up in 2017 with government’s renewed focus on infrastructure. India is the focus of steel market. Its real impact would be visible only in near future.”

Addressing a press meet at Centre for Excellence, the managing director said the company is focused on increasing productivity this financial year. The company will continue to take productivity to new levels.

Mr Narendran said that “Over the years, employee productivity has increased from 400 to 500 tonnes of crude steel to 700 tonnes of crude steel per full time employee, we want to continue improving with better performance.”

When questioned about expansion plans for the Jamshedpur plant, Mr Narendran said that the company has got environmental clearance of for expansion of the plant. The company has 10.5 million tonnes of capacity of Hot Metal production in Jamshedpur plant, which is being further enhanced to 11.5 million tonnes.

Sharing results of FY 17, a company official said Furnaces achieved best-ever Hot Metal FY17 production of 10.83 million tonnes (Previous best 10.66 million tonnes in FY16).

Blast Furnaces achieved lowest best-ever coke rate of 360 Kg/thm in FY17 (Previous best 380 Kg/thm in FY16), highest best-ever coal rate of 181 Kg/thm in FY17 (Previous best 168 Kg/thm in FY16), & best-ever fuel rate of 542 Kg/thm in FY17 (Previous best 548 Kg/thm in FY16). Sinter Plant achieved best-ever 8.1 million tonnes of Net Sinter production in FY17 (Previous best 7.86 million tonnes in FY16).

Officials said that Cold Rolling Mill achieved best-ever 1.834 million tonnes production in FY17 (Previous best 1.831 million tonnes in FY15). New Bar Mill achieved best-ever 1.03 million tonnes production in FY17 (Previous best 0.95 million tonnes in FY16).

Source : Avenue Mail
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Steel factory shut down for dumping oil in drains

The Star reported that a steel factory in Rawang Integrated Industrial Park was sealed and shut down by the Selayang Municipal Council for dumping engine oil in drains. MPS deputy president Datuk Juhari Ahmad said the factory was sealed off for a week until the owners removed the oil in the drain which otherwise would end up in Sungai Gong and Sungai Selangor. He said this was a tip off from Selangor Water Management Board and that water in Sungai Gong also contained excessive fluoride that was dangerous to health.

Mr Ahmad said that “If the factory does not clean up the drain within a week, we will revoke their licences and they have to close down permanently. We have given the factory owner one week to clean up their act or face the consequences.

He added that “Although this is a steel factory, the factory operator bought used cars and poured the engine oil into the drainage system, contaminating the river and drinking water from Sungai Selangor.”

MPS special task force chief C. Paramasivam said his team has been monitoring tributaries in Selayang constituency for three weeks and caught the perpetrators in the act yesterday. He said tributaries like Sungai Gong, Sungai Kundang, Sungai Choh and Sungai Garing will eventually end up in Sungai Selangor.

Mr Paramasivam said that “This is of great concern as almost a million households in the Klang Valley consume water from Sungai Selangor. We want to stop these factories from throwing sludge or contaminating the rivers and will conduct regular raids from now on.”

Source : The Star
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Kryvy Rih council permits Black Iron to design land allotment plan for iron ore production project

Kryvy Rih City Council has permitted Canada's Black Iron with assets in Ukraine to design a land allotment plan for the implementation of an iron ore production project at the Shymanivske iron ore field.According to the press release of Black Iron, Shymanivske Steel LLC, Black Iron's wholly owned Ukrainian subsidiary, runs the project.

The land allotment plan is a detailed report to be prepared by Shymanivske Steel to show the city of Kryvy Rih how Shymanivske Steel proposes to use the leased land by describing the proposed major infrastructure and utility tie-ins required for the Shymanivkse project.

Black Iron's Vice President Government & Community Relations Mykola Bayrak said that obtaining City Council approval to initiate the land allotment process was the result of an extensive process of documentation and public hearings culminating in a vote by Kryvy Rih City Council.

He said that "I am very pleased by the strong support from City Council as 50 councilors voted in favor of awarding Shymanivske Steel the permission to initiate the land allotment process and only four councilors abstained from voting with none objecting.”

As reported, the Canadian company is implementing its project to build a new mining company in Ukraine. The cost of the project is over USD 1 billion. Over USD 60 million has been invested.

In October 2010 Black Iron acquired Geo-Alliance Ore East Limited, a Cyprus-based subsidiary of Geo Alliance Group Limited of EastOne Investment Group belonging to Ukrainian businessman Victor Pinchuk, together with licenses worth USD 13 million, and renamed it Black Iron (Cyprus) Ltd.

The Cypriot company owns over 99% of the shares in Shymanivske Steel LLC and Zelenivske Steel (both based in Dnipro), which own licenses to exploit iron ore mines for the period until November 1, 2024 and November 1, 2014 respectively.

In July 2013, Metinvest, Ukraine's largest mining and steel group, has reached an agreement with Black Iron Inc on investment in Black Iron (Cyprus) Ltd (BKI Cyprus), a subsidiary of the Canadian mining company that owns the iron ore assets in Ukraine. The agreements require Metinvest to make an initial investment of USD 20 million in BKI Cyprus to help finance the projects. Later Metinvest left the project.

In Q3 2014 the company received a permit to develop the field and was passing the land allotment procedure. In addition, Black Iron Inc asked the Ecology and Natural Resources Ministry to extend the permit to explore the Zelenivske field to study its potential.

Source : Interfax
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Zo Zo...

China will remain world biggest steel producer for the next 100 years

People's Daily Online reported that China will be the world’s biggest steel and iron manufacturer for the next 100 years, predicted by Li Xinchuang, vice chairman of the China Iron & Steel Association and president of the Metallurgical Industry Planning and Research Institute.

According to statistics, China currently has the capability to produce over 800 million tonnes of crude steel per year. In 2016, the country’s total crude steel output accounted for 50.3% of the world’s 1.6 billion tonne output,

The country’s actual consumption of steel and iron peaked in 2014 at 702 million tonnes, but then decreased to 664 million tonnes in 2015. However, last year, the figure witnessed a slight rise to 673 million tonnes, up 1.3% year on year. Experts explained that the turnover was spurred by the development of infrastructure and the automobile and real estate industries.

Mr Li said the global steel and iron market has been transferred to China a change that he believes was driven by economic development and technological progress. He also noted that it was catalyzed by advantages related to labor, land and capital.

Mr Li added that China’s steel and iron industry is among the most competitive sectors of domestic manufacturing. The sector has reached a good standard in terms of quality, price, scale, service and brand. Additionally, China boasts the world’s largest-scale and most dynamic demand, a sound industrial system and rich manpower, Li pointed out.

China has also made an unprecedented effort to cut overcapacity. Last year, the country announced plans to cut 100 to 150 million tonnes of overcapacity in the next five years.

Source : People's Daily
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SAIL supplies TMT bars to Chenani-Nashri tunnel project

DNA India reported that there's a little bit of SAIL in the county's longest road tunnel that links Kashmir valley with Jammu, which is inaugurated by Prime Minister Narendra Modi. In line with once popular baseline of Steel Authority of India (SAIL) that "There's a little bit of SAIL in everybody's life", the state owned PSU has supplied TMT bars in construction of this project.

The steel PSU in a statement said that "Steel Authority of India continues its quest to contribute little bit of SAIL in the nation building efforts of the country by supplying TMT bars in the construction of the prestigious project through contractors and subcontractors of the Chenani-Nashri, longest road tunnel in India which is being dubbed as game changer.”

The supplies were made by SAIL directly and through its dealers.

India's longest road tunnel on the Jammu-Srinagar National Highway was dedicated to the nation today by Prime Minister Narendra Modi. The tunnel will reduce the travel time between Jammu and Srinagar by two hours. The 9-km long road tunnel will reduce the distance between Chenani and Nashri from 41 km to 9.2 km.

Source : DNA India
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