Eurobench.com

voda 11 april 2017 16:09

0

Beursblik: staalsector nog links laten liggen

UBS voorziet correctie na goede jaarstart.

(ABM FN-Dow Jones) De goede start die de wereldwijde staalsector dit jaar maakte, is niet houdbaar en beleggers kunnen daarom beter wachten met instappen. Dit concludeerden analisten van UBS dinsdag in een rapport.

In de eerste twee maanden van 2017 nam de vraag naar staal met 5,8 procent toe, wat de snelste groei was over deze periode in de afgelopen zes jaar. De groei werd vooral gedreven door China, veruit de grootste consument en producent van staal wereldwijd.

De analisten van UBS denken echter dat het sterke begin niet door zal zetten, ondanks dat zij wel verwachten dat de vraag naar staal dit jaar zal stijgen. Deze groei is volgens de Zwitserse bank vooral te danken aan het opbouwen van voorraden, een trend die echter zo maar kan keren in de tweede helft van het jaar als de prijzen onder druk komen te staan.

Dalende grondstofprijzen, wereldwijde overproductie en het vervagen van het mondiale protectionisme maken volgens de analisten de sector ook kwetsbaar voor een correctie. Inmiddels zijn de prijzen voor ijzererts sinds het hoogtepunt vier weken terug met circa 20 procent gedaald. UBS verwacht dat de staalprijzen in de tweede helft van het jaar "significant" zullen dalen ten opzichte van de eerste zes maanden van dit jaar. Dit zal volgens de marktvorsers leiden tot het afnemen van de staalvoorraden wereldwijd.

Bovendien zijn de analisten van mening dat de markt te hoge verwachtingen heeft. Er wordt gerekend op een verbetering van marges. Dit kan volgens UBS ervoor zorgen dat bij een tegenvaller de koersdalingen bovengemiddeld zullen zijn.

UBS geeft de voorkeur aan de staalbedrijven Hyundai Steel, POSCO en Tata Steel. De analisten zijn minder te spreken over Angang Steel, Gerday, Maanshan Steel, SSAB en het in Amsterdam genoteerde ArcelorMittal.

Op een groen Damrak noteerde het aandeel ArcelorMittal dinsdagmiddag 0,1 procent lager op 7,64 euro.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

Copyright ABM Financial News. All rights reserved

(END) Dow Jones Newswires

voda 11 april 2017 16:32

0

BaoSteel has enough coking coal – Report

Reuters reported that China's top listed steel maker Baoshan Iron & Steel Co has enough coking coal in stock to last four weeks and will buy locally if needed, a source said on Friday, as some domestic miners hiked prices amid concerns about tightening supplies.

Source : Thomson Reuters

voda 11 april 2017 16:33

0

Bhushan Steel gets S4A-ready, submits final proposal to banks

Business Standard reported that one of the biggest corporate debt restructuring programmes could kick off if leading public sector banks admit Bhushan Steel into the scheme for sustainable structuring of stressed assets. A final proposal for S4A was submitted recently.

People close to the development said State Bank of India and Punjab National Bank were the lead bankers to the group, which has been in financial distress for some time. Close to 50 banks have an exposure to the company, while the chunk of the term lending has been by SBI.

State Bank of India and Punjab National Bank lead two groups of creditor banks to Bhushan Steel. Bhushan Steel had debt of 460.62 billion rupees ($7.15 billion) as of last financial year to March 2016

S4A, or Scheme for Sustainable Structuring of Stressed Assets, was unveiled by RBI last year to make debt recasts easier.

Source : Business Standard

Bijlage:

voda 11 april 2017 16:35

0

Baosteel Zhanjiang places order with SMS group for expansion of hot strip mill

Chinese Baosteel Zhanjiang Iron & Steel Co., Ltd. has contracted SMS group to supply a new coiler for its Zhanjiang hot strip mill.

Source : Strategic Research Institute

Bijlage:

voda 11 april 2017 16:36

0

UK Steel welcomes definitive anti dumping duties on Chinese HR

Commenting on the European Commission’s announcement of definitive anti-dumping duties on hot-rolled coils of Chinese origin, Mr Gareth Stace director of UK Steel said that "This is a welcome decision by the Commission given the continued efforts by China to undermine European steelmakers by dumping cheap steel on to the market.

Source : Strategic Research Institute

voda 11 april 2017 16:36

0

AK Steel shares drop amid refuted takeover speculation

CNBC reported that shares of AK Steel dropped Monday, erasing gains from last week's spike on rumored takeover talk. Philip Gibbs, vice president and equity analyst at KeyBanc Capital Markets, told CNBC “It's giving all that back as Mitsui's said this morning 'we have no interest in AKS.”

However, Gibbs does not expect significant benefits for AK Steel from any changes. He said “Anything incremental from a trade policy perspective could be perhaps helpful but AK has been a strong beneficiary of tariffs that have been enacted for the last 12 to 18 months.”

AK Steel declined to comment, while Mitsui did not immediately return CNBC's request for comment.

Shares of AK Steel jumped more than 6 percent last week, but more than gave up those gains by closing nearly 8 percent lower Monday.

Source : CNBC

Bijlage:

voda 11 april 2017 16:38

0

First German company pays Trumps penalty

Spiegel reported that after the dumping allegations of the US government, Salzgitter AG has confirmed the first German company to pay a penalty. A spokesman for Germany's second-largest steel producer said "This has been legally effective since March 30, and our product has been subject to 22.9 per cent of punitive charges since then.”

However, the penalty is not raised retroactively, the spokesman emphasized.

The Group again rejected the allegations against him.

The US business contributes six percent to the turnover of the steel business.

Source : Spiegel

Bijlage:

voda 11 april 2017 16:38

0

February steel shipments in US down by 6.2% MoM - AISI

The American Iron and Steel Institute reported that for the month of February 2017, U.S. steel mills shipped 7,232,341 net tons, a 6.2 percent decrease from the 7,708,416 net tons shipped in the previous month, January 2017,

Source : Strategic Research Institute

voda 11 april 2017 16:39

0

AISI update on Raw Steel Production in US in Week 14

In the week ending on April 8, 2017, domestic raw steel production was 1,703,000 net tons while the capability utilization rate was 73.0 percent.

Source : Strategic Research Institute

voda 11 april 2017 16:40

0

Fitch assigns BB rating to JSW Steel’s unsecured debt

Business Line reported that Fitch Ratings has assigned a ‘BB’ final rating to JSW Steel’s USD 500 million 5.25 per cent senior unsecured notes maturing in 2022.

Fitch Ratings said in a statement that “The final rating is in line with the expected rating assigned on March 28, 2017, and follows the receipt of final documents conforming to earlier information. The proceeds will be used for repaying foreign currency debt, capex or any other purpose in accordance with regulations.”

It said that “Around 60 per cent of the company’s consolidated debt, unadjusted for acceptances, was secured as of financial year ended March 2016 (FY16), resulting in a secured debt/EBITDA ratio of 4x. However, we expect the ratio to moderate to 2x... and to come down further thereafter.”

Fitch Ratings rules out high possibility of subordination and lower recoveries for JSW Steel’s senior unsecured debt based on set criteria.

Source : Business Line

voda 11 april 2017 16:43

0

German Fugro to survey iron ore reserves in Chiniot in Punjab province of Pakistan

Associated Press of Pakistan reported that Punjab Chief Minister Muhammad Shehbaz Sharif here Saturday chaired a meeting to review progress on exploration of iron ore reserves in Chiniot-Rajua Sadaat in Pakistan. Chief Minister said work was being started on second phase of the iron ore exploration project along with its assessment, adding that an agreement had been signed with German company Fugro for exploration of underground minerals and their exact assessment. The German company would submit its report after an proper survey of mineral resources in Punjab and it would help identify estimated cost of minerals as well as collection of data.

The company, he said, would start work on second phase of exploration of mineral resources in Chiniot and adjoining areas.

Shehbaz observed that this project carries vital importance for betterment of national economy, as in the first phase, international experts had finalized their report by assessment of iron ore reserves in Chiniot.

Chief Minister directed the authorities concerned that investors should be invited for investment by keeping in view the feasibility report of the project and the assessment of iron ore reserves.

During the second phase, drilling and other works should be completed as early as possible in a professional and scientific manner.

A briefing was given about the future roadmap for staring work on second phase of the project.

Furgo Company Managing Director Dr. Uta Alisch, geographical experts including Dr. Jens Krumb, Ralf Braumann, Secretary Mines & Minerals and other officials attended the meeting. Punjab P&D Chairman participated in the meeting through video link.

Source : Associated Press of Pakistan

voda 11 april 2017 16:44

0

Iranian HR & CR steel import market remains flat

Financial Tribune reported that the Iranian flat steel import market has been largely inactive for the most part of the week that ended April 5 due to long holidays to ring in the Iranian New Year (started March 21). Most market participants returned to the market only on April 3 and were trying to assess the situation both in the domestic and import markets. The report quoted a source as saying that “We are just back from holiday so there is little market understanding or activity for the moment. HRC prices in China are going down, so we expect lower import offers, too,” a second source said.

Meanwhile, Russia’s MMK was recently heard offering HRC at USD 475-480 per tonne FOB Astrakhan. The estimated cost of freight to the northern Iranian port of Anzali is around USD 20 per tonne. Metal Bulletin’s assessment of import prices for 2 mm HRC in Iran rose to USD 495-500 per tonne CFR Iranian ports on April 5, from USD 475-493 per tonne CFR a week earlier.

CRC offers from MMK were heard at USD 555 per tonne FOB Astrakhan, down USD 10 per tonne over the week. Metal Bulletin’s assessment of import pricnees for CRC in Iran dropped to USD 570-575 per tonne CFR Iranian ports from USD 584-585 per ton CFR in the previous week.

Source : Financial Tribune

voda 11 april 2017 16:45

0

Clarity needed on what is Australian steel

Illawarra Mercury reported that from BlueScope’s point of view, it would seem the government’s steel plan is better than that proposed by Labor and the Greens. BlueScope boss Paul O’Malley has never been one for the mandated minimum steel usage in government projects that is the core of the Greens-Labor bill. Instead, all the Port Kembla steelmaker wants is a level playing field and a chance to compete on quality, rather than the government making procurement decisions based solely on the bottom line.

And that’s what the NSW government’s changes to steel procurement seem likely to do. The focus has been on the setting of a new Australian standard for steel, aimed to address concern over the use of substandard steel in projects.

Of more interest is looking at changing the way the “broader economic benefit” test is applied when deciding to purchase Australian or foreign steel. If that is effective, it will come close to BlueScope’s preference of the government taking into account the whole of life costs including the economic benefit they give in terms of paying wages and taxes in Australia.

The odd part in this package of reforms is a plan to publish the amount of Australian steel used in government projects.

Because we know the government’s definition of “Australian steel” is rather broad.

Various state politicians have crowed about record levels of Australian steel used in government infrastructure projects, which sounds great.

But when the Mercury has scratched below the surface, it becomes clear that the government can’t say with certainty that the steel it is using was actually made here.

The government included steel processed or value-added in Australia as “Australian steel”, when in fact that supplier may well have sourced that steel from overseas.

For instance, reinforcing bar used in the Princes Highway upgrades was bought in NSW but was made and fabricated in Singapore.

Does that get added to the “Australian steel” tally? It’s not clear.

For this part of the plan to work, they need to be mindful of the fact that, just because they bought it from an Australian supplier doesn’t automatically make it Australian steel.

Source : Illawarra Mercury

Bijlage:

voda 11 april 2017 16:55

0

Fortescue forays into markets outside China

Bloomberg reported that The world’s fourth-biggest iron ore exporter’s Fortescue Metals Group Ltd is making iron ore marketing forays to steel producing nations outside China to tap forecast increases in demand from burgeoning infrastructure projects across the region. CFO Ms Elizabeth Gaines said in an interview that FMG is well positioned to take advantage of expected growth in countries such as India, Vietnam and the Philippines,

She told “Our marketing team visit potential and prospective customers in all those regions regularly, it’s not just a complacent watching brief. We are actually in those markets talking to people and wanting to be partners with them as those opportunities arise.”

She added “As those economies realise their growth potential there’ll be demand for infrastructure, which will drive demand for steel. Being based in the Pilbara, we’ll be very well placed to supply to those markets as and when that demand occurs.”

India is poised to become a beacon for growth in global steel output as demand from infrastructure, construction and auto-making accelerates, BMI Research said in a report received Wednesday. Steel output in the nation will average annual growth of about 9% between 2017 and 2021, according to the report. Economic growth is forecast to pick up in about two-thirds of Asia’s 45 economies, even as the pace of expansion cools in China, the Asian Development Bank said this month in its latest outlook report. India’s gross domestic product is forecast to grow 7.4% in 2017 and 7.6% next year, while in Southeast Asia – which includes Vietnam and the Philippines – GDP growth will expand to 5% in 2018 from 4.8% this year, the report said.

Source : Bloomberg

Bijlage:

voda 11 april 2017 16:56

0

Pollution level rises with opening of iron ore mines in Jharkhand

Avenue Mail reported that the Jharkhand government has started opening of the mines after prolong closer in the Iron ore region, but the pollution level has also started increasing in Badajamda town. Despite all the rules and regulation, the transporters are flouting the norms at Noamundi and Badajamda area thus creating health hazard particularly in Badajamda.

The Section 21 of the Air (prevention and control) pollution Act 1981 has made it compulsory to obtain No Objection certificate for operating mining activity from ministry of environment and from state pollution control board. The Act and Jharkhand state pollution control board guidelines clearly directs that regular sprinkling of water on haul roads to reduce the level of pollutant due to movement of vehicles during transportation and the vehicles carrying the Iron ore loaded must be covered with tarpaulin or such covering.

The Mines lease owner neither sprinkle water on haul roads nor do they force the transporter to follow the environmental norms. The people living in the Badajamda area are badly affected with pollution.

Source : Avenue Mail

voda 11 april 2017 16:57

0

Rio defends tax shifting, calls for lower tax

The Sunday Morning Herald reported that as the base for global miner Rio Tinto's most profitable mines, Australia received the bulk of the group's tax and royalty payments over the past year, even as the miner remains locked in dispute with the local tax office over tax shifting abroad.

Across the group, Rio paid $US4 billion ($5.3 billion) in taxes and royalties in 2016, of which $US2.9 billion was paid in Australia, with Canberra and the West Australia government the largest beneficiaries.

The federal government received $US1.4 billion, with Western Australia pocketing $US1.1 billion in royalties and taxes, followed by Queensland, which received $US184 million.

Overall, the tax bill declined 12 per cent in 2016 from the year before, it said.

Group-wide, the effective tax rate of 22% "is reflective of the statutory corporate income tax rates in the countries in which we operate", it said in a report the miner releases annually detailing tax, royalty and other payments globally.

It said in the report that "We pay the vast majority of our Group taxes in the countries in which we have mining and processing operations, with the effective tax rate on underlying earnings in Australia running at 30 per cent.”

However, it warned maintaining corporate income tax at this level will make the country uncompetitive.

The group's chief financial officer, Chris Lynch, said that "We support the Australian government's policy to reduce the corporate tax rate. If Australia remains with a 30 per cent corporate tax rate, this will come at a cost to investment and jobs, as other nations leave Australia behind."

Earlier this month, Rio was hit with a tax bill for an additional $379 million plus interest of $68 million, a total of $447 million as part of a long-running tax dispute with the Australian Tax Office over income routed through Singapore.

It said that "Rio Tinto intends to challenge the full amount of the amended assessments. In the meantime, Rio Tinto is required to pay 50% of the total amount assessed."

The miner continued to defend routing some revenue through Singapore, where it has 350 employees carrying out marketing, shipping, procurement and other services.

It said that "Rio Tinto entities based in Singapore generate income from activities carried out by the centralised marketing, shipping and procurement functions.”

Source : The Sunday Morning Herald

Bijlage:

voda 11 april 2017 17:00

0

Rio Tinto publishes details of its $4 billion in taxes paid in 2016

Rio Tinto unveiled details of the USD 4 billion paid in taxes and royalties and the more than USD 35 billion direct economic contribution delivered to host communities in 2016.

Rio Tinto chief financial officer Chris Lynch said that “Rio Tinto is a major contributor to society and we are proud of the economic activity and wealth we generate through taxes, royalties, employee wages, payments to suppliers and investment in communities. From both a global and local perspective, our Taxes paid report helps inform our stakeholders about the role we play and the impact we have in the community. While many people know we produce materials that are essential to products they use every day from telecommunications to transport this report also helps the public better understand our total contribution to society.”

Rio Tinto has pioneered the practice of corporate tax transparency, publishing its first Taxes paid report in 2010. The report has consistently been recognised as best-practice in tax reporting among multinational companies and the 2016 report, the seventh edition, underlines Rio Tinto’s commitment to transparency.

The USD 4 billion paid to governments in taxes and royalties last year takes our total direct tax contributions past USD 50 billion since we first started publishing the report in 2010.

Rio Tinto continues to be a major contributor to the economies of its host nations, with a direct economic contribution of more than USD 35 billion in 2016 through wages, tax, royalties, dividends and payments to suppliers and contractors.

The majority of Rio Tinto’s taxes were paid in Australia (USD 2.9 billion), Canada (USD 249 million), Mongolia (USD 215 million), Chile (USD 205 million), the United States (USD 102 million) and South Africa (USD 100 million).

Corporate income tax remained the largest component of Rio Tinto’s tax payments around the world in 2016, followed by government royalties, employer payroll taxes and other taxes.

Source : Strategic Research Institute

voda 11 april 2017 17:01

0

SC may enhance iron ore production limit for Goa - DMG

Team Herald reported that Supreme Court is considering enhancing the fresh iron ore extraction limit for Goa, which has been currently capped at 20 million tonnes per annum.

Accordingly, Directorate of Mines and Geology has set a target of extracting 8 million tonnes of ore before the end of the ongoing mining season, May 31. Companies have already met the 20 million tonne extraction limit of the last financial year generating a royalty of over INR 340 crore.

Mines Director Prasanna Acharya on held a meeting with major mining lease holders to discuss production and transportation details for the financial year 2017-18. During the meeting, the Director sought the industry’s co-operation to achieve the targeted production subject to enhancement by the Supreme Court.

Mr Acharya said that “The Supreme Court is considering the enhancement of production limit in the State of Goa which is also recommended by the Expert Committee appointed by the court.”

He added that “Hence, it is the duty of the department and the industry to equitably distribute the production in eight months of the new financial year as mining activities are not carried out during the monsoon season from June to September.”

As such, DMG has set a target of 8 million tonnes of production in the two months before end of the ongoing mining season. Lease holders have been directed to produce the details of the quantity which they are able to produce to achieve the target production.

Mr Acharya emphasized on the fact that in the interest of royalty collection, so also in the interest of citizens residing in mining affected areas, it is equally important to dispatch the ore produced in such a manner that least inconvenience is caused to people and at the same time ensure that the quantity does not remain in the lease hold area.

During the meeting, the lease holders were informed about the need for efficient and scientific mining to be undertaken and that no illegal exploitation to be done to achieve the target. The director said that “Maximum measures are also to be adopted to curb dust pollution while transporting mined minerals.”

Source : Team Herald

Bijlage:

voda 11 april 2017 21:31

0

De linkjes uit mijn eerste startdraad werkten niet meer allemaal (heeft te maken met sommige database functie veranderingen van de IEX (in het verleden).

Het begin:

Deel 1, gestart door poster Dutchwax, 7 november 2018, later door o.a. mij "overgenomen": 468 posts, 58,718 views.

www.iex.nl/Forum/Topic/1185122/Arcelo...

Deel 2, gestart door mij, op 31 mei 2011. 1,000 posts, 78,325 views.

www.iex.nl/Forum/Topic/1266340/Arcelo...

Deel 3, gestart door mij, op 21 september 2012. 1,513 posts, 103,008 views.

www.iex.nl/Forum/Topic/1289117/Arcelo...

Deel 4, de huidige draad. Gestart 13 augustus 2013. 11,959 posts, 475,523 views!

Als je tijd over heb, pak er eens een oude draad bij voor al dan niet leuke, oude berichten etc. Genoeg leesstof zou ik zeggen.

Veel leesplezier.

voda 11 april 2017 22:03

0

'Duizenden banen op de tocht bij ThyssenKrupp'

Gepubliceerd op 11 apr 2017 om 20:29 | Views: 1.020

ArcelorMittal 17:38
7,50 -0,15 (-2,00%)

ThyssenKrupp 19:37
22,50 -0,10 (-0,45%)

ESSEN (AFN/RTR) - Bij de staaltak van het Duitse industrieconcern ThyssenKrupp staan volgens vakbond IG Metall duizenden banen op de tocht. De besparingsplannen die het Duitse bedrijf vorige week aankondigde zouden tot 4000 van de 27.000 arbeidsplaatsen bij het onderdeel kunnen raken.

Dat stelde een bestuurder van de vakbond dinsdag na het inzien van interne documenten. De vakbondsman liet daarbij meteen weten dat het bedrijf acties tegemoet kan zien. Een woordvoerder van ThyssenKrupp ontkende de cijfers echter en reageerde met de mededeling dat nog niet vaststaat wat de personele gevolgen zijn van de voorgenomen bezuinigingsslag van 500 miljoen euro.

ThyssenKrupp neemt zijn organisatie op de schop in verband met de overcapaciteit in de markt. De Duitsers zijn daarom tevens in gesprek met Tata Steel, het Indiase moederbedrijf van het voormalige Hoogovens in IJmuiden, over een mogelijke samenvoeging van hun Europese staalactiviteiten. Daarmee zouden eveneens kosten worden bespaard. Bij de werknemers van beide bedrijven bestaan echter al langer grote zorgen over eventueel banenverlies en sluiting van vestigingen.

IG Metall herhaalde dinsdag tegen het fusievoornemen te zijn. De bond vindt daarbij dat ThyssenKrupp moet wachten met eventuele saneringen totdat er in de gesprekken met Tata een knoop is doorgehakt.

Vertraagd	14 feb 2025 12:36
Koers	27,210
Verschil	-0,490 (-1,77%)
Hoog	27,410
Laag	26,030
Volume	1.293.074
Volume gemiddeld	2.580.319
Volume gisteren	4.408.986

11 feb	Von der Leyen verwerpt Amerikaanse im...	2
10 feb	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

Arcelor Mittal « Terug naar discussie overzicht

Nieuws en info hier plaatsen (deel 4)

Meedoen aan de discussie?

Direct naar Forum

Detail

ArcelorMittal nieuws