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voda 1 juni 2017 20:21

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Mr Deng Qilin former chairman of Wuhan Steel sentenced to 15 years for graft

Xinhua reported that the former chairman of Wuhan Iron and Steel (Group) Corp, Mr Deng Qilin, was sentenced to 15 years in prison for taking bribes Wednesday. Mr Deng was also fined CNY 5 million and his illicit gains will be turned over to the state treasury, the Intermediate People's Court of Foshan in southern China's Guangdong Province said in a statement.

He was found to have accepted bribes worth about CNY 55.4 million, in return for favors in business, project construction and promotions, while holding a series of posts in the steel company between 2000 and 2015.

The court said Deng was given relatively lenient treatment for cooperating with investigators, handing over the proceeds of his crime, and providing information about crimes committed by others.

Source : Xinhua

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voda 1 juni 2017 20:23

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Vietnam to impose duty on PPGI from Chinese, South Korean and Taiwan

Reuters reported that Vietnam’s trade ministry announced that Vietnam will impose quotas and safeguard duties on imported painted galvanised steel from China, South Korea and Taiwan for three years to protect domestic producers. It said imports of painted-galvanised steel sheets into Vietnam surged more than 70% last year, hurting the market share of domestic producers, the ministry said in an online statement.

The safeguard duty-free quota for Chinese imports will be kept at 323,120 tonnes for one year from mid June and will increase slightly every year until mid 2020, with the duty imposed beyond that set at 19 percent, the statement said.

South Korean and Taiwanese firms also face specific quotas and duties.

Vietnam's trade ministry said imports of painted-galvanised steel sheets surged to 590,685 tonnes in 2016, from 130,798 tonnes in 2013, causing domestic inventory of the products last year to rise 38 percent from 2015.

Source : Reuters

voda 1 juni 2017 20:24

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Fabric filter breakage at lime kiln triggered explosion at Formosa’s a Tinh Steel Plant

VNA reported that according to the provincial People’s Committee, the explosion of the lime kiln dust filter equipment in Formosa Ha Tinh Steel Plant located in the central province of Ha Tinh came from the breakage of a dust fabric filter. The committee said in a press release on May 31 that the mixture of limestone dust and steam from the process of lime burning produced a dust cake in the fabric filter.

The dust cake then resulted in a pressure drop, leading to the breakage of the fabric filter, the committee cited investigation results announced by FHS technicians, environmentalists from the Ministry of Natural Resources and Environment and competent local agencies.

The committee said the explosion caused no casualties as well as environmental harm.

Property losses are small, it added, noting that the incident has not affected the trial runs of the lime kiln, which began on May 29, and of a steel furnace slated for June 1.

During his fact-finding trip to the plant, Secretary of the provincial Party Committee Le Dinh Son asked FHS to provide objective, scientific and accurate information on the cause of the explosion for competent agencies and the public within one week.

FHS pledged that the company will replace the broken fabric filter with the best one while examining all other facilities to ensure the absolute safety for the test runs.

Right after hearing the explosion, which happened at 20:45 on May 30, officials of the provincial People’s Committee, the Ministry of Natural Resources and Environment and relevant agencies came to the plant to clarify the incident.

Source : VNA

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voda 1 juni 2017 20:27

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Italian NCO to supply new rebar mill to Mughal Steel in Pakistan

Pakistan’s Mughal Steel has signed key contract with Nuova Carpenteria Odolese of Italy for rebar re rolling mill having total installed annual production capacity of 430,000 tonnes of rebars to hike uits total capacity to about 1 million tonne.
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Source : Strategic Research Institute

voda 1 juni 2017 20:27

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Nickel Price to Remain Under Pressure

Indonesia Investment reported that nickel price will remain under pressure because nickel supplies in the Philippines and Indonesia are on the rise. Both countries are the world's key nickel exporters. The Philippines contributes around 25% to the world's total nickel supply (most of the nation's output is shipped to China).

But in the Philippines nickel supplies are rising because Philippine President Rodrigo Duterte replaced environmentalist and philanthropist Regina Lopez as Head of the Department of Environment and Natural Resources with former army general Roy Cimatu. While Lopez was eager to shut down 23 mines (equivalent to about 50% of the country's nickel production capacity, while a number of companies were disallowed to resume nickel exports) across the Philippines (citing environmental breaches), Cimatu is expected to encourage output in the nation's mining sector, thereby boosting production of nickel.

Meanwhile, in Indonesia, nickel supplies have been rising because the Indonesian government eased the ban on exports of mineral ore at the start of 2017, hence giving opportunities to local miners to boost production and shipments of nickel ore. Indonesia used to be the world's biggest nickel ore exporter until the government introduced the ban on exports of mineral ore in early 2014 (a strategy aimed at encouraging the establishment of domestic processing industries).

Goldman Sachs Group Inc. expects the world's nickel oversupply to reach 37,000 tons in 2017 followed by 100,000 tons in 2018. That is why the nickel price is estimated to remain stagnant at USD 9,000 per ton up to (at least) mid 2018. However, other analysts believe the nickel price can drop to USD 8,000 due to subdued demand from China.

Source : Indonesia Investment

voda 1 juni 2017 20:29

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3-D printing research center opens in Canada

The Fabricator reported that university of New Brunswick, in partnership with Custom Fabricators and Machinists and community colleges in New Brunswick and Nova Scotia, has opened the Marine Additive Manufacturing Centre of Excellence, a research center for metal 3-D printing for the marine and defense industries.

The center combines research, commercialization, and workforce development and training. It is the first facility in Canada to use metal 3-D printing to manufacture certified, custom parts for the marine sector.

The R&D aspects of the center are led by Dr. Mohsen Mohammadi, director of the center and associate professor of mechanical engineering at UNB. CFM partners on commercialization, while the New Brunswick Community College, Collège Communautaire du Nouveau-Brunswick, and the Nova Scotia Community College lead workforce development and training.

The center is funded by Lockheed Martin Aeronautics and Irving Shipbuilding Inc. Lockheed Martin is contributing $2.7 million as part of its industrial and regional benefits obligation to the Canadian government for its contract for the CP-140 Aurora Structural Life Extension Project. Irving Shipbuilding contributed $750,000 as part of its Value Proposition commitments under the National Shipbuilding Strategy (NSS).

Mr David Saucy vice president Construction and Equipment division of JD Irving Ltd said that “As the commercialization partner, CFM is pleased to be hosting the 3-D printing equipment at our facility, and we look forward to working with the community colleges to provide a hands-on classroom to train the next generation of skilled machinists and fabricators.”

Source : The Fabricator

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voda 1 juni 2017 20:32

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KIOCL gets iron ore mining lease in Ballari

DH News Service reported that over 11 years after it suspended mining activities at its Kudremukh mines in the eco sensitive Western Ghats, KIOCL has got an allocation of mining lease. The Karnataka government has allotted a mining lease spread over 474 hectares at Devadaru hills in Sandur taluk in the mineral-rich district of Ballari. A KIOCL official told DH that “The state government has issued a Gazette notification dated January 23, 2017, to this effect following an approval for the same by the Union government in December last year.” He said that KIOCL will prepare a detailed mining plan after it gets a clearance from the forest department and other statutory approvals.

Currently, the company is operating its 3.5 million tonne per annum pellet plant at Mangaluru without a captive mine of its own. Due to non-captive source of iron ore, KIOCL was unable to meet iron ore requirement of the pellet plant and its operations had become an unviable proposition. The 100% export-oriented unit was not allowed to source iron ore in its home state of Karnataka as exports from the state were banned.

The company, which operated captive mines at Kudremukh in Chikkamagaluru districts since 1970, shut down its mining operations from 2006 onwards following a direction from the Supreme Court on environmental grounds. It is sourcing iron ore from NMDC’s mines in Chhattisgarh incurring huge logistics costs which in turn cuts into the profits of the company.

It may be recalled, the Standing Committee on Coal and Steel set up by the Parliament had made a strong recommendation to the Karnataka government to allot captive mines to KIOCL. The Mines and Minerals (Development and Regulation) Act, 2015, which was amended two years ago, provides for reservation of mining assets to public sector companies. Under Section 17 A 2(A) of MMDR Amendment Act 2015, KIOCL had made a fresh application to the Karnataka government for allotment of captive mines.

Source : Deccan Herald

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voda 1 juni 2017 20:33

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Iron ore supply demand stable - Mr Mobius

A Times quoted Mr Mark Mobius executive chairman of Templeton Emerging Markets Group as saying that iron-ore’s volatility is due to speculative traders and that supply-demand is stable. Mr Mobius said that “We’ve got to separate those two things… Supply-demand is one thing, price is another thing. Because the price is subject to all kinds of external factors, and the traders who are betting on the price going up or down or so forth… “

He added that “I don’t see a big, big decline in the demand for iron ore going forward, I think there’ll be continuing demand not only in China but other parts of the world… If you look at Chinese imports of iron ore, it’s almost a straight line, continuing to go up…”

“There may be a slowdown in demand from the housing sector but the infrastructure sector will still be sustained… If the One Belt, One Road program proceeds, there’ll be continuing demand.”

Source : A Times

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voda 1 juni 2017 20:34

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Minnesota Scientist discover new process that separate titanium oxide from ilmenite

Minnesota Public Radio reports on a new process to separate high-value titanium oxide from ilmenite ore, which is present in deposits between Hoyt Lakes and Duluth.

Mining companies have known about the ilmenite for years, but didn't have techniques to effectively strip out the titanium oxide, a brightly colored mineral that's used in white paint, food coloring, cosmetics and in industry. Scientists at Natural Resources Research Institute (affiliated with University of Minnesota Duluth) said that they've gotten around that hurdle.

The state's ilmenite deposits are small compared to iron, but they're easier to access. A company looking at mining for ilmenite also said that the process involves fewer environmental obstacles than, say, copper mining, though an state environmental review hasn't been conducted yet.

Source : Biz Journal

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voda 1 juni 2017 20:43

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Iranian steel sector expansion plan needs more ferrosilicon

Financial Tribune reported that ferrosilicon production is an integral part of the steel industry and its downstream sectors. Iran is currently producing nearly enough of the raw material to feeds its furnaces, but the ambitious expansion plan it follows will require more and more of the alloy in the next few years.

On average, 3 to 5 kilograms of ferrosilicon are required to produce a tonne of steel. And Iran is aiming to become the world’s sixth largest steelmaker by boosting output capacity to 55 million tonnes by 2025. The expansion is part of the country’s so-called 20-Year Vision Plan (2005-25).

The industry is fairly new to Iran, as it was first established in the early 90s. Currently, three large-scale plants produce the alloy in Iran. Before that, Iranian steelmakers imported nearly all their 38,000 tonne demand for ferrosilicon.

As an alloy of iron, ferrosilicon is used as a source of silicon to reduce metals from their oxides and to deoxidize steel and other ferrous alloys. This prevents the loss of carbon from the molten steel.

The alloy is also used in the manufacture of silicon, corrosion-resistant and high-temperature resistant ferrous silicon alloys, and silicon steel for electromotors and transformer cores.

In the manufacture of cast iron, ferrosilicon is used for inoculation of iron to accelerate graphitization. In arc welding, ferrosilicon can be found in some electrode coatings.

Iran Ferro Alloy Industries Company is the largest and oldest of the three. It was established in 1993 in Lorestan Province with the initial output capacity of 25,000 tonnes per year and is currently capable of producing 60,000 tonnes of the material.

Source : Financial Tribune

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voda 1 juni 2017 20:47

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Scunthorpe British Steel Works starts recruitment

Scunthorpe Telegraph reported that recruitment has started for 120 plus laborers to carry out vital maintenance on the Scunthorpe British Steel works this summer. Most of the 2,000 acres site will be non-operational between the middle and the end of July for what is known as stop fortnight.

Daily shifts will range from eight to 12 hours and the work will be spread across a range of departments.

Lindsay Macpherson managing director of the Ashby-based Diverse Employment Agency said that successful applicants would be involved in general laboring and fire and hole watching and furnace wrecking roles.

Lindsay said women as well as men were welcome to apply and the maintenance shut-down could lead to further job opportunities.

Source : Scunthorpe Telegraph

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voda 1 juni 2017 20:48

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Vietnam Tisco and Vtmsteel incur multi-trillion dong losses

Vietname Net reported that Tisco and Vtmsteel, the joint venture between VnSteel and the Chinese partner, are included on a list of 12 projects which have incurred multi-trillion dong losses. The government poured USD 170 million worth of capital from Chinese ODA loans to expand the mill in the first phase. However, it did not make any significant breakthrough.

The expansion project in the second phase kicked off in September 2007 with total investment capital of VND3 .843 trillion, which later rose to VND 8.104 trillion in August 2012. The EPC contractor is MCC, a Chinese group.

In September 2014, the Prime Minister allowed SCIC to invest VND 1 trillion in Tisco to help it implement the project. However, the rescue campaign failed.

Despite many preferences given for decades, VnSteel, with its spearhead, Tisco, has not succeeded as well as the steel industry had hoped.

After two years of operation, Vtmsteel in early 2017 reported the loss of VND 1 trillion. The joint venture exploits iron ore from Quy Xa mine in Lao Cai province which has the reserve of 120 million tons.

A report of the Ban Viet Securities Company showed that iron ore accounts for the largest proportion in total production cost (35%). Therefore, the price fluctuations of the input material have had big influences on competitiveness.

In January 2012, the Prime Minister released an instruction, adding iron ore onto the list of product items that Vietnam had stopped exporting.

The biggest beneficiaries of the new policy were enterprises which make steel with blast furnace technology. The other beneficiaries were Chinese enterprises.

Analysts said that China is the largest exporter of blast furnace technology into Vietnam. How will Vietnam’s steel industry survive when it imports technology from its rival?

China is also the biggest producer and consumer of steel in the world, which makes up 50 percent of the global market (1.6 million tons of steel in 2016). Therefore, once the market sneezes, the world market would suffer, let alone countries sharing the border lines with China like Vietnam.

Analysts said that the limited resources need to be allocated to industries which Vietnam has advantages to develop and its products have best competitiveness.

Source : Vietname Net

voda 1 juni 2017 20:49

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Kanishk Steel reports net loss of INR 0.26 crore in March 2017 quarter

Kanishk Steel Industries reported net loss of INR 0.26 crore in the quarter ended March 2017 as against net loss of INR 0.19 crore during the previous quarter ended March 2016. Sales declined 17.12% to INR 64.11 crore in the quarter ended March 2017 as against INR 77.35 crore during the previous quarter ended March 2016.

For the full year, net profit declined 93.87% to INR 0.29 crore in the year ended March 2017 as against INR 4.73 crore during the previous year ended March 2016. Sales declined 15.98% to INR 229.04 crore in the year ended March 2017 as against INR 272.61 crore during the previous year ended March 2016.

Source : Business Standard

voda 1 juni 2017 20:50

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Legal and General dismiss reports of takeover of British Steel Pension Scheme

Scunthorpe Telegraph reported that financial services giants Legal and General dismissed national media reports about a proposed takeover of the British Steel Pension Scheme as speculation.

A report in yesterday's Daily Mail said Tata Steel, the former owners of the Scunthorpe works, were in talks over a GBP 15 billion buy-out of the 60 year old pension scheme

Last June, Legal and General took over as the pension providers for the 3,000 British employees in Scunthorpe.

The British Steel fund which is reported to be worth£15 billion has an estimated 20,000 stake-holders in North Lincolnshire.

They have been waiting since last June for the Department for Work and Pensions to decide if the scheme should fall into the hands of the Pension Protection Fund after Tata Steel refused to bridge a short-fall to meet long-term liabilities.

Tata Steel has so far not commented on the reported talks with Legal and general.

Source : Scunthorpe Telegraph

voda 1 juni 2017 20:52

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Taiwanese Chia Yi Steel anticipates 15% annual growth in 2017

Taipei Times reported that Chia Yi Steel Co Ltd expects revenue to grow more than 15% annually this year, on the back of increasing orders from the agricultural and construction machinery sectors. Mr Tsao Kuang-chao company chairman said that “After several years of a slump in the industry, the company has seen a better-than-expected recovery in customer demand since the beginning of this year citing growing orders placed from Chinese and Japanese machinery makers.”

Mr Tsao said that demand has been improving as global clients seem to be more willing to purchase new equipment this year after bloated inventories eased. He said that the company received some rush orders in the first quarter.

He said that to cope with rising demand, the company plans to expand its annual capacity from 22,000 tonnes to 28,000 tonnes by the end of the year, which would also help lift margins as it would not have to pay overtime.

Mr Tsao gave an optimistic business outlook for the rest of the year. He said that “Chia Yi Steel is likely to reach the break-even point in the second half.”

The company has been in the red for the past two years.

The company lost NTD 33.99 million (USD 1.13 million) in the first quarter, compared with NTD 6.44 million in the same period last year, it said in a filing with the Taiwan Stock Exchange. Gross margin plunged to 8.18% last quarter from 18.71% in the first quarter of last year. The company blamed the decline on higher than expected labor and transportation costs, as well as an unfavorable product portfolio.

Source : Taipei Times

voda 1 juni 2017 21:47

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Europese staalindustrie moet sterker beschermd worden - Juncker

Voorzitter EC deed uitspraak in speech.

(ABM FN-Dow Jones) De Europese staalsector moet beter beschermd worden dan momenteel het geval is. Dit zei voorzitter Jean-Claude Juncker van de Europese Commissie woensdag in een toespraak in Berlijn.

"Ik ben een grote fan van de staalindustrie, mijn vader was staalarbeider. Wij moeten de Europese staalindustrie veel sterker verdedigen dan we momenteel doen", zei Juncker. Daar voegde de Luxemburgse politicus overigens aan toe dat staal niet de toekomst is. "De toekomstmuziek is digitaal, en dat moeten we beseffen, en daar moeten we naar toe gaan."

Europese, maar ook Amerikaanse staalproducenten, ondervinden al geruime tijd druk door het dumpen staal door met name China. Brussel heeft reeds enige maatregelen genomen hiertegen en er lopen momenteel nog onderzoeken om meer te doen om het dumpen tegen te gaan.

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 1 juni 2017 23:14

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ArcelorMittal, India's SAIL agree on proposal to advance $913M venture

May 31, 2017 3:45 PM ET|About: ArcelorMittal (MT)|By: Carl Surran, SA News Editor
ArcelorMittal (MT -2.3%) and Steel Authority of India agree to a proposal to export 20% of auto-grade steel they aim to make under a planned automotive joint venture, Reuters reports.

MT also agrees to waive a fee for the venture to use its brand and its research and technology, that any losses caused by delays in setting up the partnership would be borne by the venture, and that the $913M cost to establish the venture could rise, according to the report.

Indian government think-tank NITI Aayog is mediating talks on commercial terms for the delayed venture that will give MT a foothold in the world's fastest growing steel market.

Now read: Reuters: ArcelorMittal wins bid to buy Italy's Ilva steel plant »

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voda 2 juni 2017 16:05

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Index may replace negotiated coking coal quarterly benchmark price - Report

Reuters reported that talks between Australian miners and Japanese steelmakers over coking coal supplies have stalled as the Japanese companies are pushing to move to more flexible arrangements from the current quarterly fixed-price terms. While none of the companies involved has publicly stated the precise changes being sought, several industry sources said that Japan's steelmakers are pushing for change.

The report quoted a source as saying that “Pricing could instead be set by using the monthly average of a daily spot price. The days of the benchmark system as we know it are dead.”

The source added "They want index linked or fluctuating pricing. They are tired of quarterly discussions and want more third-party assessments."

Japanese steelmakers led by Nippon Steel and Sumitomo Metal Corp have long resisted the idea of more flexible pricing, preferring the stability of supply under term contracts. But that is changing. The Japanese steel mills are backed by BHP, the world's biggest producer of coking coal, a key steelmaking ingredient.

However, other miners are against upending the 45 year old fixed price settlement mechanism. Other miners led by Glencore and Peabody are resisting the moves since they sell coal with a lower heat content that could be priced at a discount to a spot market price

Coking coal supply contracts between Australian miners and Japanese steelmakers are accepted as the benchmark around the world.

Meanwhile, another source with ties to the miners said talks were close to setting a benchmark price of around USD 195 a ton as early as Friday that would apply retroactively for the second quarter of 2017. The price roughly equates to the average coking coal price during March to May.

Source : Reuters

voda 2 juni 2017 16:09

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China CLFP Steel PMI reaches 1 year high in May

China Federation of Logistics & Purchasing's Purchasing Managers Index for the steel sector rose to 54.8 in May from 49.1 in April, climbing above the 50 point mark that separates growth from contraction as the new orders index jumped 13.6 points to 60.5, the highest level since May 2016. CLFP said "Demand from traders and downstream consumers rose as prices rebounded. Sales are good while steel companies are seeing more orders."

CLFP said “Demand fundamentals continue to improve. Currently, extremely low domestic steel stocks mean prices will continue to rally. But risk in the market is growing given that prices and margins for steel mills are at a record high level. Risks in the market are growing as prices hit historic highs and demand may ease over the summer when construction activity slows.”

Source : Strategic Research Institute

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voda 2 juni 2017 16:10

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Severstal awards contract for BF 5 reline to Danieli Corus

Danieli Corus has signed a contract with Severstal for the reline of blast furnace No 5 at their Cherepovets plant in Russia. As part of this project, the blast furnace shell, refractories and cooling system will be replaced and the scope of work for the majority of these items is based on design, supply and construction and commissioning supervision.

Following the outstanding achievements with blast furnace No. 4, which was converted by Danieli Corus to a “Hoogovens” type cooling and lining system in 2005, Severstal has decided to apply this technology to their flagship blast furnace as well. This cooling and lining design is based on machined copper plate coolers in combination with high conductivity graphite, which is the only design with proven capability of achieving campaign lengths in excess of 20 years regardless of iron making process circumstances.

In addition to copper staves installed in the taphole area, the furnace will be equipped with a full ring of copper stave coolers in the upper hearth.

After completion of the project, at more than 6000 m³ useful volume, Severstal Cherepovets No. 5 will be one of the largest blast furnaces in the world. The furnace has 40 tuyeres and 4 tapholes and is designed for an annual production of more than 4.7 million tons of hot metal. The reline is scheduled to commence in early 2020, with deliveries of materials to site taking place in 2019.

The Cherepovets plant started producing steel in 1955. In 1993, the then state owned plant was transformed into an open joint stock company under the name “Severstal”. Its current output is approximately 11.5 million tons of steel per annum.

Source : Strategic Research Institute

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