Eurobench.com

voda 16 mei 2017 16:41

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Mobarakeh Steel Company buys 16% stake in Iran’s Largest Mining Investor

Financial Tribune reported that Iran’s largest steel producer, Mobarakeh Steel Company, has bought a further 16.1% stake in Mines and Metals Development Investment Company from a semi-governmental retirement fund.

MMDIC is Iran’s largest mining investment company and a major shareholder in a number of domestic miners and steel producers, including the country’s largest miners Golgohar Mining and Industrial Company, Chadormalu Company and sponge iron and steel billet producer Arfa Iron and Steel Company.

The acquisition takes MSC’s stake in MMDIC to 35.4% and makes it the investment company’s largest shareholder, S&P Global Platts reported.

A stock market specialist said the deal was notable because it increases MSC’s potential influence on price determination for long-term contracts for iron ore and pellet, as well as on export and other policies.

Golgohar and Chadormalu plan to commence exporting some of their iron ore pellet output this year, but are waiting to receive a government exemption from a 15% export duty on iron ore pellet.

Golgohar started its second 5 million tons/year pellet plant last November 2016 and now has a nameplate capacity of 10 million tons/year.

Source : Financial Tribune

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voda 16 mei 2017 16:42

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ArcelorMittal threatens to sue Bosnia over sale of Ljubija mine to Israeli rival

intellinews.com reported that global steel maker ArcelorMittal has warned that it will cancel a planned investment in Bosnia & Herzegovina and file a claim with an international court, if the sale of the government’s stake in the Ljubija mine to Israeli Investment Group - Overseas Inc goes ahead.

ArcelorMittal is a major investor in Bosnia, and has expressed an interest in acquiring the 49% stake in the ore mine held by Ljubija for several years. Together with Ljubija, it jointly owns the ArcelorMittal Prijedor ore mine, where it holds a 51% stake.

In April, Republika Srpska’s government decided to sell the stake in the open pit Ljubija mine to the Israeli company for BAM 92 million (EUR 47 millionn), after it outbid ArcelorMittal’s BAM 63.6million offer. The deal has to be approved by Republika Srpska’s parliament, but is facing objections from the opposition due to fears that this would mean an end to relations with ArcelorMittal. On May 11, the economy committee of the entity’s parliament postponed the debate on the deal.

The company said that “Unfortunately, this [the completion of the deal] would inevitably lead to large-scale job losses in Prijedor, and also in the Zenica steel plant, where production would be switched to using Electric Arc Furnace, which requires no iron ore.”

It added that, in case the deal is completed, it will abandon planned investments worth over BAM 120 million (EUR 61.4 million) in the integral production based on iron ore in Zenica and that the company would “take all appropriate actions to protect the interests of its shareholders and employees, including action in the appropriate international courts if necessary”.

The steelmaker has also sent a letter to the Bosnian authorities warning of its plans for legal action if the government sells its 64.9% in the mine to the Israeli group, Indikator.ba reported on May 13

Source : intellinews.com

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voda 16 mei 2017 16:49

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UK steel union slams UK PM Ms Theresa visit to British Steel works

Scunthorpe Telegraph reported that UK PRIME Minister Theresa May has come under fire from the main trade union on the Scunthorpe British Steel works following her visit on May 10. Mr Roy Rickhuss general secretary of the Community union, slammed the visit as "just shameless electioneering.” He said that "Yesterday is the first time the Prime Minister has taken a personal interest in the steel industry, despite direct requests from us for her to do so, on a number of occasions since she took office.”

He added that "The Prime Minister has always made it very clear that the steel industry is not a sufficiently high enough priority to warrant her attention and has just left things to the business department. Obviously we disagreed with her decision as we believe that the future of our steel industry is of national, strategic importance and indeed we welcomed the interest shown by her predecessor.”

He further said that "I'm sure Theresa May wants a strong and stable industrial strategy, and if so, then she needs a strong and stable steel industry. That needs a government and a Prime Minister that thinks about the steel industry as more than just the location of its next photo opportunity."

Source : Scunthorpe Telegraph

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voda 16 mei 2017 16:51

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Severstal commissions new side trimmer from SMS group

The new twin-head side trimmer enables Severstal to increase the output of its pickling line and simultaneously improve product quality. The knives can be rapidly turned through 180 degrees to maintenance position while new cutting units are being moved into operating position.

Source : Strategic Research Institute

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voda 16 mei 2017 16:53

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PSM to activate independent units for power and steel sectors

Daily Times reported that Pakistan Steel Mills is likely to activate independent units for steel fabrication for power sector and China-Pakistan Economic Corridor sub-contracting. The Board of Directors of PSM instructed management to examine the possibility of manufacturing coke from the present batteries by invoking competitive bidding process so that investors provide the raw material for value additions on the terms and condition to be agreed as the case be for win-win situation and as well as to generate some liquidity by the available and operating units of PSM.

Also, the board also discussed the establishment of Special Economic Zone near PSM in context of CPEC. After thorough discussion Board advised to get the land valuated on immediate basis so that the same can be offered for the purpose on earliest basis in order to activate the SEZ.

In view of PSM being enlisted for privatization for early harvest, the discussion also focused as to the need on simultaneous putting in efforts of finding solutions towards its likely rehabilitation and revival of operation of PSM including the mode and manner of financing and considering offers from parties in this respect.

The Board agreed to continue working on this business development plan by integrating the experiences of last bailout packages so that new factors and references by eliminating the reasons of past non-achievements of targets out of previous bailout packages are also well considered in development of the business plan. The previous experiences of non achievements of targets of bailout packages are well considered in structuring the Resurgence of Pakistan Steel Mills Business Plan. The Board also agreed that PSM should capitalize the position that it contributes a greater percentage number in the growth of large scale manufacturing growth number for manufacturing GDP, which may merit the considered view of developing business plan. It also took note that even SBP has also mentioned in its report that due to complete halt of operation in Pakistan Steel Mills, the LSM growth was recorded lower due to no contribution of manufacturing production by Pakistan Steel Mills. The Board after detailed discussion agreed to continue structuring the business development plan by considering the maximum available information and records with PSM by which PSM management had registered reasons for not meeting with the targets of previous bailout packages which has not only been badly perceived at large but also remains discouraging for any future government support in this respect. It was finally agreed that a sale-able comprehensive business development plan if is structured may carry the value addition for likely consideration of government of Pakistan.

Source : Daily Times

voda 16 mei 2017 16:54

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Esfahan Steel Company iron ore beneficiation plant becomes operational

Esfahan Steel Company inaugurated its iron ore beneficiation plant last week. According to ESCO’s deputy head, Mr Hassan Zia the beneficiation plant has a processing capacity of 200 kilograms of iron ore per hour. Mr Hassan Zia was quoted as saying by IRNA that “The main purpose of establishing this plant is to reduce the raw material feedstock while boosting production by increasing iron content.”

In the mining industry, beneficiation is a process that removes gangue minerals from ore to produce a higher grade product. And considering that ESCO utilizes blast furnaces, in contrast to other major producers dominantly using electric arc furnaces, using a higher content ore will help the company reduce its finished product price and consequently become more competitive.

The plant was wholly constructed by ESCO engineers in about four months with an overall investment of 6 billion rials (USD 157,894). Zia believes this to be an industry record.

Esfahan Steel Company produced 2.24 million tonnes of semi-finished products, including slabs, blooms, billets and ingots, in the last fiscal year (March 2016-17), down 31.80% year-on-year.

The company also produced 2.05 million tonnes of steel products such as rebars, beams, pipes and sheets during the same period.

The Isfahan-based steelmaker also exported 640,521 tonnes of beams, rebars, coils and cast iron last year, down 8% to become Iran’s fourth largest steel exporter.

Mr Ehsan Dashtianeh, ESCO’s head of sales and marketing said that “ESCO plans to boost longs exports to 1 million tonnes by the end of the current fiscal year (March 20, 2018).”

Export destinations include Iraq, Afghanistan, the UAE, Oman, Kuwait, Jordan, Germany, Belgium, the Netherlands, Sudan, Turkey, Taiwan and Thailand.

Source : Financial Tribune

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voda 16 mei 2017 16:58

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Unionist advises Nigerian government to use recovered loots to revive Ajaokuta steel company

Pulse News Agency reported that unionist said that the FG should use part of the recovered loots to complete the remaining two percent of the Ajaokuta steel company.

Mr Otori Saliu, a former National President of Iron and Steel Senior Staff Association of Nigeria, says part of the loots recovered by the Federal Government should be used to revive Ajaokuta Steel Plant. Mr Saliu gave the advice in an interview with the News Agency of Nigeria (NAN) in Abuja on Friday. He urged the Federal Government to use part of the recovered loots to complete the remaining two per cent of the Ajaokuta steel company.

According to him, the facilities in Ajaokuta steel can not be compared or found in any steel company abroad; it is integrated and can produce steel for making cars and fix cars.

He said that “The Ajaokuta steel is integrated, it has 43 plants where steel needed for cars, aeroplane, among others, can be manufactured and assembled because it is an integrated steel plant.”

He said that government should expedite action with strong political will to get Ajaokuta running, adding that some past administrations had promised to revive the steel company during political campaigns, but failed to fulfill the promise.

According to him, workers are working on the abandoned company 24 hours, especially at the down stream end of the plant to prevent it from submerging due to its closeness to River Niger.

He said that “In spite of their commitment to safeguarding the upstream and downstream sections of the steel plant, the Federal Government has continued to pay Ajaokuta workers low salary. We are trying our best to test run the equipment in the plant to ensure they are still functioning. We have staff working at the down stream section 24 hours pumping out water that found its way into the plant, if this is not done, Ajaokuta could submerged within few days.”

NAN reports that stakeholders in the steel sector have urged the Federal Government to expedite action in reviving the Ajaokuta steel through Public-Private Partnership model.

Source : Pulse.ng

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voda 16 mei 2017 17:00

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Shadegan Steel new DRI Plant in Khuzestan

Financial Tribune reported that Shadegan Steel Plant’s direct iron reduction unit is scheduled to be inaugurated on Sunday by President of Iranian Mines and Mining Industries Development and Renovation Organization Masoud Karbasian.

The plant will be one of the first DRI units in Iran to be equipped with the PERED indigenized iron ore direct reduction method developed jointly by Iran and Germany, IMIDRO reported on its website. The technology, which makes optimum use of energy and raw material, reduces production costs with the added advantage of being more environment-friendly compared to other direct reduction methods.

Shadegan Steel, located in the southwestern Khuzestan Province, is capable of producing 800,000 tonnes of semi-finished steel products per year. According to World Steel Association, Iran is the world’s largest DRI producer. A majority of Iranian steelmakers use DRI as feedstock.

Source : Financial Tribune

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voda 16 mei 2017 17:01

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Tata Steel voert staalleveranties op

Gepubliceerd op 16 mei 2017 om 16:44 | Views: 143
ArcelorMittal 16:41
6,86 -0,01 (-0,12%)

MUMBAI (AFN/RTR) - Tata Steel, de Indiase eigenaar van het voormalige Hoogovens in IJmuiden, heeft afgelopen kwartaal meer staal geleverd en dankzij hogere staalprijzen ook flink meer omzet behaald. Ook de winstgevendheid ging vooruit.

Tata Steel voerde zijn productie op tot 6,83 miljoen ton, van 6,32 miljoen ton een jaar eerder. De opbrengsten stegen met zo'n 30 procent tot omgerekend bijna 5 miljard euro (353 miljard roepie). Gecorrigeerd voor eenmalige posten en het afstoten van bedrijfsactiviteiten leverde dat circa 473 miljoen euro winst op, waar vorig jaar nog een klein verlies werd geleden.

Onder de streep kwam Tata Steel nog wel omgerekend 165 miljoen euro tekort, tegen een nettoverlies van 429 miljoen euro in hetzelfde kwartaal vorig jaar. Dat Tata toch weer op een nettoverlies is uitgekomen, komt vooral door een eenmalige pensioentegenvaller in het Verenigd Koninkrijk.

voda 16 mei 2017 17:03

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Iranian local flat steel producers helpless against imports

The Iranian steel market’s demand for flat products is being met through imports, as local producers operate below production capacity. Stating this Mr Seyyed Reza Shahrestani a member of Iranian Steel Producers Association added that close to 2.5 million tonnes of coated, cold- and hot-rolled coils were imported in the last Iranian year (ended March 20, 2017).

He said that “The steel production chain is currently unbalanced, as slab production capacity was boosted by 2 million tons last year, exceeding local demand, while flat-starved downstream users have to turn to imports. We are unable to produce only about 700,000 tons of the imported flats, which are made up of specialized products. We have the required production technology and capacity for meeting the rest of local demand.”

Mr Shahrestani believes that the capital spent on flat imports must be allocated to reviving underperforming mills grappling with financial problems due to the banking system’s limited lending ability.

According to ISPA, imports of semis and steel products stood at 187,000 tons and 2.91 million tons last year, indicating a 44% rise and a 31% drop respectively.

Less than 3-mm HRC was the main imported product with 1.28 million tons, down 36% year-on-year. It was followed by cold-rolled coil with 617,000 tons, more than 3-mm HRC with 366,000 tons and coated coils with 350,000 tons.

Another reason why flat imports continue unabated is the downtrend in the global flat steel market, according to Metal Bulletin.

Chinese suppliers, under pressure from unfavorable conditions in their local market, have significantly reduced their export prices in recent weeks. The lower prices have attracted attention in the Iranian market, making imports profitable again despite relatively high Iranian import duties.

HRC and CRC are subject to 20% import duty in Iran. Duty for hot dipped galvanized coil is at 26%.

These duties were expected to be halved as of the beginning of the current Iranian year (started March 21). However, no decision on this has been announced yet by the Iranian government.

Source : Financial Tribune

voda 16 mei 2017 17:06

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Ha Tinh Formosa was commissioned to operate the blast furnace

VN Express reported that the interdisciplinary supervisory board met for the entire process of overcoming environmental incidents in Formosa and asked for permission to operate Blast Furnace No.1 for six months. On the morning of 10th May, the Inter-Ministerial Supervision Council chaired by Minister of Natural Resources and Environment Tran Hong Ha with the participation of the representatives of ministries, central agencies and Ha Tinh People's Committee reviewed the whole process.

According to Hoang Van Thuc, deputy director general of the Vietnam Environment Administration, the council has assessed from overcoming 53 violations to the completion of 17 environmental protection items requested by the Ministry of Natural Resources. Formosa has invested financially, technology to overcome 52 out of 53 errors. Continuous monitoring results from July 20, 2004 show that environmental issues have been controlled,

According to the Council's assessment, when operating the blast furnace No.1, the biochemical treatment plant added 300m3 of waste water a day. Biochemical waste water is the most important wastewater generated from the kiln. With the treatment system, the current technological process and the inter-sectoral monitoring are well controlled, the wastewater discharged into the environment meets standards 52 and 40.

In terms of emissions, the blast furnace operation generates emissions from the blast furnace and steel furnace. Fomrosa has installed a full set of 15 emission monitoring stations along with an automated monitoring device linked to the Ministry of Natural Resources, allowing 24 / 24h monitoring of its emissions. Prefabricated chimneys such as boilers and flues of a thermal power plant meet all standards.

With the efforts of Formosa and the strict control of state agencies from central to local, the Council has asked Formosa to commission Blast Furnace 1 for six months.

Minister for Natural Resources Tran Hong Ha requested Formosa to strengthen equipment, manpower, strengthen automatic and periodical environmental monitoring. By controlling the use of chemicals, energy consumption, operating procedures of related works, equipment and other parameters in a transparent manner.

Minister Ha also asked the monitoring team of the ministry and Ha Tinh province to intensify their work, including the more frequent sampling of wastewater, exhaust gases and the surrounding environment.

In early 2016, the mass death of fish originated from a number of raft fish cages near Vung Ang industrial zone (Ha Tinh), then spread to Quang Binh, Quang Tri and Thua Thien Hue. By the end of June, Formosa Ha Tinh has acknowledged as a direct cause of marine environmental incidents, pledged USD 500 million compensation. This money is coming to the hands of the people.

Source : VN Express

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voda 16 mei 2017 17:09

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AISI update on Raw Steel Production in US in Week 19

In the week ending on May 13, 2017, domestic raw steel production was 1,728,000 net tons while the capability utilization rate was 74.1 percent.

Source : Strategic Research Institute

voda 16 mei 2017 17:10

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Georgetown council discusses re-opening of ArcelorMittal steel mill

Published on Tue, 16 May 2017

WBTW reported that Georgetown City Council hosted a meeting last week to discuss the planned re-opening of the city’s steel mill. ArcelorMittal closed the mill in 2015 but UK based Liberty House Group says it plans to buy the mill and open it back up. Liberty House representatives talked about the company’s plans and answered questions from the public.

Georgetown Mayor Jack Scoville said that “I think the long-term best interest would be for that site to be re-purposed to something other than an operating steel mill. However, that’s just not going to happen. So you’ve got to just accept the reality and make the best of the situation, and that’s what we are going to do.”

Mr Scoville said that “They have the right under the law to reopen. We can’t stop them. I wouldn’t want to at this point. Again, this company has represented that they are very environmentally friendly, that they will be a good neighbor, and, as long as they live up to that, I think everyone will be fairly happy.”

There’s no word on when the steel mill will re-open.

Source : WBTW

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voda 16 mei 2017 17:15

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Roy Hill settles AUD 1 billion dispute with Samsung C&T

The West reported that Ms Gina Rinehart’s majority-owned Roy Hill Holdings has settled a reputed AUD 1 billion construction dispute with the iron ore mine’s lead contractor. The out-of-court deal with Korean construction giant Samsung C&T over the AUD 10 billion Pilbara project is understood to have been reached in the past few weeks. A Roy Hill spokeswoman said that “RHH confirms that the parties have reached a commercial settlement. RHH continues to progress ramp up to 55mtpa name plate capacity, with project completion under budget.”

A lawyer representing Roy Hill last year told the Supreme Court the two sides were contesting a broad range of claims over significant sums which had been called “the $1 billion dispute”.

Samsung made provision last year for a $1 billion loss from its $5.6 billion fixed-price contract.

The mine first shipped ore in December 2015. Practical completion by Samsung was reached in May last year.

Source : The West

voda 16 mei 2017 17:18

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DZR, dit was al op 17.01 geplaatst hoor! :-) Je loopt achter.

DeZwarteRidder 16 mei 2017 17:20

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toelichting: als putdeksels gestolen worden, is dat een teken voor hoge prijzen voor oud-ijzer en dus gouden tijden voor Arcelor.
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

Putdekseldief aangehouden
31 min geleden Onze Correspondent

EMMELOORD - De politie heeft een 23-jarige man uit Emmeloord aangehouden die wordt verdacht van een reeks putdekseldiefstallen in de Noordoostpolder. In maart werden in twee weken tijd zeker dertig ijzeren deksels gestolen.

De gemeente noemde het destijds een forse kostenpost. Iedere deksel die netjes van de put werd afgehaald kostte zo’n honderd euro. Maar in veel gevallen was er ook schade aan de put zelf en kostte het daardoor soms honderden euro’s.

Bovendien ontstonden er gevaarlijke situaties, omdat veel deksels plotseling waren verdwenen en gapende gaten overbleven. Volgens een woordvoerder van de politie heeft de man een deel van de diefstallen bekend. Waarom hij het deed, heeft hij niet gezegd.

voda 16 mei 2017 17:46

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Tata Steel lijdt verlies

Omzet en bedrijfsresultaat wel hoger.

(ABM FN-Dow Jones) Tata Steel heeft in het afgelopen kwartaal een nettoverlies geleden vanwege pensioengerelateerde kosten. Dit bleek dinsdag uit de resultaten van de Indiase staalmaker.

De kosten werden gemaakt omdat een Brits pensioenprogramma werd stopgezet. Hierdoor leden de Indiërs onder aan de streep een verlies van 11,68 miljard roepie, gelijk aan ongeveer 165 miljoen euro. Een jaar terug resulteerde nog een verlies van 30,42 miljard roepie.

Het bedrijfsresultaat (EBITDA) steeg evenwel van 21,97 miljard naar 69,82 miljard roepie.

Tata Steel verkocht 6,83 miljoen ton staal ten opzichte van 6,32 miljoen ton in dezelfde periode een jaar terug. Dit leverde een omzet op van 353,05 miljard roepie. Een jaar terug bedroeg de omzet 270,71 miljard roepie.

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

DeZwarteRidder 17 mei 2017 09:34

0

ArcelorMittal vangt bot bij rechter VS
59 min geleden

AMSTERDAM (AFN) - Staalproducent ArcelorMittal is door een Amerikaanse federale rechtbank in hoger beroep in het ongelijk gesteld in een dispuut over octrooien. Een patent van het in Amsterdamse genoteerde staalbedrijf blijft daardoor ongeldig.
Klik hier voor meer nieuws en actuele koersinformatie over ArcelorMittal

De zaak betreft een geschil tussen het Amerikaanse AK Steel en ArcelorMittal, waarbij de Amerikanen eerder al in het gelijk waren gesteld. ArcelorMittal had graag alsnog willen schikken en hoopte de rechtbank daarin mee te krijgen.

De oproep daartoe gebeurde op dezelfde dag dat AK Steel de claim zou willen laten vervallen. De rechter oordeelde echter dat het betreffende aanbod niet voldoende was.

Ook niet toen Arcelor met een verklaring kwam waarbij er onder voorwaarden een akkoord zou zijn tussen de strijdende partijen. Juist de voorwaarden waren volgens de rechter het bewijs dat de zaak dus nog niet was opgelost.

voda 17 mei 2017 21:21

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Staal ArcelorMittal in WK-trams Rusland

Gepubliceerd op 17 mei 2017 om 19:46 | Views: 767

ArcelorMittal 17:35
6,66 -0,20 (-2,93%)

OSTRAVA (AFN) - ArcelorMittal gaat onderdelen leveren voor trams die tijdens het WK voetbal in Rusland volgend jaar supporters zullen vervoeren. Dat maakte de in Amsterdam genoteerde staalgigant woensdag bekend.

Dochteronderneming ArcelorMittal Engineering Products uit het Tsjechische Ostrava heeft een klus binnengehaald voor de productie van ruim duizend assen voor in ongeveer 150 nieuwe trams van het type Vityaz-M. De onderdelen moeten in november klaar zijn.

voda 17 mei 2017 22:31

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NSP bets on higher infra spending to double Indian steel demand growth – Ind-Ra

India Ratings and Research said that India’s National Steel Policy 2017 announced by the Ministry of Steel is betting on higher spending on infrastructure and construction sector through government initiatives to push steel demand and increase utilisation.

Source : Strategic Research Institute

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