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voda 7 juni 2017 17:23

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Tokyo Steel tapping Chinese potential as steel scrap supplier

Nikkei reported that Tokyo Steel Manufacturing, Japan's largest independent maker of electric-furnace steel, has begun importing scrap iron from China, expecting the country to become a key supplier. Between May and June, the company bought about 3,000 tons of scrap for its plant in Kitakyushu, Fukuoka Prefecture, on the southern island of Kyushu, on a trial basis. It is believed to be the first major Japanese electric-furnace steelmaker to import scrap iron from China. Most Japanese producers obtain scrap metal from domestic sources.

Tokyo Steel unloaded about 850 tons of scrap in mid-May, and more than 2,000 tons on June 2, from a cargo ship docked near the plant. The Kitakyushu plant produces H-beams, heavy plates and other construction materials.

According to a company spokesman, the procurement cost did not differ significantly from that procured domestically. The company will check the quality of the Chinese scrap iron before increasing imports from the country.

Although the Kitakyushu plant was selected for the trial run because of its proximity to China, Tokyo Steel is seeking to do the same at other plants -- one in Tahara, Aichi Prefecture and another in Kurashiki, Okayama Prefecture.

The Chinese government is trying reduce excess steel production. This has created a glut of scrap, leading steel producers to export it.

Source : Nikkei

voda 7 juni 2017 17:26

1

US Steel Canada filed Chapter 15 Petition

Bankrupt Company News reported that Canada based US Steel Canada filed for Chapter 15 protection with the US Bankruptcy Court in the Southern District of New York, case number 17-11519. The Company, which manufactures steel products, is represented by Mr Robert J Lemons of Weil Gotshal & Manges.

United States Steel Corporation is the ultimate indirect owner of 100% of the Company’s equity interests. On September 16, 2014, the Company filed with the Ontario Superior Court of Justice a Plan of Compromise, Arrangement and Reorganization, pursuant to the Companies’ Creditors Arrangement Act.

According to documents filed with the Court, “The filing of the CCAA petition was a result of several years of significant operational and economic challenges that had detrimentally impacted the Debtor’s financial performance.”

Source : Bankrupt company news

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voda 7 juni 2017 21:06

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Inmiddels stokoud nieuws, maar ik wil het toch in deze data draad hebben. :-)

China's Tangshan starts new campaign to implement steel cuts

FILE PHOTO: A Chinese miner works at a coal mine in the suburb of Tangshan, China's Hebei province December 9, 2005. REUTERS/Jason Lee/File Photo

The major Chinese steel city of Tangshan has launched a fresh crackdown on mills that illegally restart production or violate industry overcapacity rules, according to a notice published by the China Iron and Steel Association on Monday.

Tangshan, in Hebei province, produced 88.3 million tonnes of steel last year, up 6.8 percent on the year and more than the entire United States, putting it on the front line of the central government's efforts to curb overcapacity in the sector. It aims to close around 8.6 million tonnes of annual production capacity this year.

But the city was the subject of a central government investigation earlier this year amid concerns that firms continued to raise steel output despite mandatory capacity cuts.

New guidelines drawn up by the Tangshan planning commission promise to put grassroots government departments under greater pressure to comply with anti-pollution and overcapacity guidelines, and identified the names of officials tasked with ensuring that shuttered plants do not reopen, power and water supplies are cut off and equipment dismantled.
The guidelines also cover illegal new capacity expansions in the steel, cement and coking coal sectors, as well as the closure of coal mines in the province.

Hebei aims to cut major emissions by more than 15 percent by 2020 and will step up efforts to force local industries to meet their pollution targets for 2017, the official Xinhua news agency reported, citing a local government plan published on Sunday.

The province, which surrounds China's capital Beijing, is already under heavy political pressure to bring concentrations of small, breathable particles known as PM2.5 down by 25 percent over the 2013-2017 period, and it admitted last month that it was still not properly enforcing state pollution standards and policies.

Average PM2.5 in Beijing-Tianjin-Hebei rose nearly 20 percent year-on-year in the first four months of 2017, and the region is expected to introduce tough new restrictions on industry in the second half of the year to ensure its 2017 targets are met.

Hebei also said it would establish a fully integrated environmental information platform by the end of this year enabling it to keep track of and punish offenders.

(Reporting by David Stanway; Editing by Joseph Radford)

www.reuters.com/article/us-china-poll...

voda 7 juni 2017 21:15

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Trump to outline infrastructure plan

Jun. 7, 2017 5:16 AM ET|By: Yoel Minkoff, SA News Editor
President Trump will speak in Cincinnati today as part of what the White House has billed as a week-long effort to formally launch an initiative for $1T in infrastructure investment.

He'll propose allocating $200B in federal funding over 10 years to spur at least an additional $800B in spending by states, municipalities and the private sector.

www.bloomberg.com/politics/articles/2...

voda 8 juni 2017 16:47

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ArcelorMittal Long Products Canada inaugurates new inishing line at its Longueuil bar mill

After 18 months of work, ArcelorMittal Long Products Canada has inaugurated a new finishing line at its bar mill in Longueuil, Québec. Representing a CAD 27 million investment, this innovative equipment will increase the facility’s annual rolling capacity from 400,000 to 500,000 tonnes. It will also now be able to manufacture new value-added steel products, including angles, for local and international markets. The event was attended by several dignitaries, including the Mayor of Longueuil, Caroline St-Hilaire.

Source : Strategic Research Institute

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voda 8 juni 2017 16:49

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Philippines DTI tightens rules on steel imports for safety of consumers

The Philippine Star reported that Philippines Department of Trade and Industry has come out with a proposal that will tighten requirements for steel imports to better ensure the safety of consumers. The DTI said it has released for public comment a draft memorandum circular amending the implementing guidelines for the mandatory certification of steel products covered by the Philippine National Standards.

Under the circular, the sampling size shall only be determined once the sampling lot size and general inspection Level III code letter is identified. The circular also specifies the required markings for mandatory certification of steel products.

FTI said “Each bundle, while the certification process is ongoing, shall be properly tagged indicating the batch number, diameter, length, number of pieces and name of manufacturer/importer. Bundles found without tags during inspection and verification shall be rejected. Once certified, the PS (Philippine standard) mark with its license number, or the ICC (import commodity clearance) mark with its number shall be included in the details indicated on the tag.”

This amends the implementing guidelines under the existing Philippine National Standards which provides the sampling size of three pieces by one meter per type per size per thickness regardless of lot size.

Source : The Philippine Star

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voda 8 juni 2017 16:51

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ANDRITZ to supply two walking beam furnaces to ArcelorMittal Burns Harbor US
Published on Thu, 08 Jun 2017

International technology Group ANDRITZ has received an order from steel producer ArcelorMittal to supply two new top and bottom fired walking beam furnaces for its 80” hot strip mill in Burns Harbor Indiana in USA. Start up of the furnaces, which will replace the existing pusher furnaces, is scheduled for 2020.

Source : Strategic Research Institute

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voda 8 juni 2017 16:52

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Turkey steel exports in May jump by 17%

Ankara reported that Turkey's steel exports climbed 16.9% year on year in May, hitting 1.5 million tonnes. According to data released by the Turkish Steel Exporters Association, the value of steel exports soared 29.1% to USD 966 million in the month compared to May 2016. The data showed that the country's steel exports saw an increase of 21.3% in the first five months of the year compared with the same period last year, reaching 8.3 million tonne.

Earnings from steel exports were USD 4.9 billion during the same period, marking an increase of 38.7%.

The European Union countries remained the largest importer of Turkish steel with 2.5 million tonne from January to May, skyrocketing by 109% compared to the same period last year.

The EU was followed by Middle East with 1.8 million tonne, while North America purchased 1.3 million tonnes and Far East imported 697,000 tonne.

The head of the Steel Exporters Association Mr Namik Ekinci pointed out that Turkey's steel exports to Far East had jumped 626%. Mr Ekinci said that exports to Middle Eastern and North African countries had been affected negatively by the ongoing tension in the region, but the exporters were trying to compensate their losses incurred in the last few years with the increase in the last five months.

Source : Ankara

voda 8 juni 2017 16:53

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Major Iranian steelmakers exports shrink

Financial Tribune reported that major Iranian steelmakers exported 571,888 tonne of semi-finished and finished steel products in the second month of the current Iranian year (April 21-May 21), registering a 24% drop compared with last year’s corresponding period. Iranian Mines and Mining Industries Development and Renovation Organization reported that export volume for the first two months of the year stood at 931,461 tonne, down 1% YoY.

Khouzestan Steel Company was the biggest exporter in the second Iranian month, as it shipped 293,262 tonne of slab, bloom and billet. Its exports were up 120% YOY, making the company one of the few mills to post growth in export volumes. Bloom exports made up the bulk of KSC's shipments with 176,345 tonne and were up 118% YOY. The company's billet exports, however, were down 71% to 15,157 tonne. KSC’s two-month exports were up 100% to stand at 460,357 tonne.

Hormozgan Steel Company was the second biggest exporter with 97,040 tonne of slab, down 52% YOY. HOSCO’s two-month shipments dropped 27% to 149,040 tonne. This is the first time HSOCO, a subsidiary of Mobarakeh Steel Company, is overtaking its parent company in exports.

MSC staged an underwhelming performance during April 21-May 21. It exported a total of 89,039 tonne of hot-rolled, galvanized and checkered flat steel in addition to slab, down 70% YOY. Two-month exports were down 57% to 139,708 tonne. The export of all of the company's products had double digit negative growth.

Esfahan Steel Company was the fourth largest exporter of the month with 70,256 tons, down 31% YOY. Shipments across the entire spectrum of the company's steel products dropped. Its rebar exports fell most (274% to 25,395 tonne). ESCO’s two-month exports stood at 132,677 tonne, recording a 17% decline YOY.

Khorasan Steel Company came next as its rebar exports in April 21-May 21 surged 324% to 14,972 tons, making it the only mill besides KSC to post growth. The company's two-month shipments stood at 19,221 tonne, up 17% YOY.

Iran Alloy Steel Company was the sixth largest exporter with 6,633 tonne of rebars down 30% YOY, though its two-month exports were up 182% to 28,411 tonne.

Khouzestan Oxin Steel Company was next with 686 tonne of sheet down 50%. It exported a total of 2,047 tonne in two months, down 32% YOY.

Source : Financial Tribune

voda 8 juni 2017 16:54

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HBIS Group Serbian HeSteel posts best result in May since take over

B92 reported that HBIS Group Serbia Iron and Steel has received USD 77 million in revenues from the sale of over 120,000 tonnes of finished steel products in May. Company announced that this was the greatest success in the year since the arrival of HBIS in Serbia.

It said that "The strategy of improving product quality at a time when the market is struggling with low prices, customer confidence, and continuity of presence in the market, have been the objectives pursued over the past year.”

It added that “In addition, the global power of integration of resources and good organization of work after taking over the factory in Smederevo, the former Zelezara, have contributed to reaching this important success.”

HBIS Group Serbia expects this to be a record year in many respects, which will become evident in the coming months, thanks to new investments worth USD 150 million.

Source : B 92

voda 8 juni 2017 16:56

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High floor price deters buyers at OMC iron ore auctions

Business Standard reported that the latest round of iron ore e-auctions by Odisha Mining Corporation saw subdued buying interest. OMC offered 508,000 tonne of iron ore of which barely 200,000 tonne was booked, meaning an unsold inventory of 308,000 tonne. Both iron ore lumps and fines were on offer from OMC's key operating mines of Gandhmardhan, Daitari and Koira.

The response to the auctions was weak as OMC continued its stand to hike base prices of lumps and fines. The floor price of lumpy ore was in the range of INR 2200 to INR 2600 per tonne. Similarly, fines’ reserve price was fixed in the band of INR 900 to INR 1300 a tonne. The raise in floor prices by OMC was despite plunge in sponge iron prices of the order of INR 2500 to INR 3000 per tonne since the last auctions.

A senior official with a steel company said that "OMC’s floor price at iron ore e-auctions is based on the pricing mechanism adopted by the Indian Bureau of Mines which is faulty. Pricing mechanism has to be made more realistic and transparent.”

OMC has refused to budge from its pricing stand, ignoring concerns flagged off by steel makers.

Though OMC has drawn a road map for higher iron ore output targets and agreed to augment production at its mines, the results have not yet shown up at the ground level. OMC had set a target to achieve a production figure of 20 million tonne (mt) by 2017-18 but it looks challenging given OMC’s current actual annual production hovering around six million tonne.

Source : Business Standard

voda 8 juni 2017 16:57

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Rio Tinto closes off debt reduction program after investors flock to cash in

City Am reported that Rio Tinto has repurchased USD 781 million (GBP 605 million) of its bonds ahead of time as part of a wider USD 2.5 billion debt reduction program.

The world's second largest miner revealed plans to use cash reserves to reduce its debt burden on 22 May. The first tranche was due to be extinguished by 19 June.

Rio Tinto said that the debt buyback of the tranche on offer was oversubscribed.

In May, Rio Tinto also issued a redemption notice for a further USD 1.7 billion of its 2019 and 2020 bonds. These will be redeemed on 21 June 2017.

Source : City Am

voda 8 juni 2017 17:00

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Ahmsa mulls restart of operations at suspended mine

BNAmericas reported that Altos Hornos de México (Ahmsa) could reverse its decision to close its strike-hit Cerro de Mercado iron ore mine in Mexico. The steelmaker last month announced plans to halt operations at the Durango state mine, blaming national mining-metallurgy union SNTMMSSRM for long-running labor issues.

Production was halted in May due to an unofficial strike by unionized workers.

But the company confirmed local press reports suggesting production could be restarted if the workforce is cut 40% to about 300.

Spokesman Francisco Orduña told BNamericas that "The mine remains suspended and the issue of a 40% workforce reduction is just part of a major restructuring that would be required for the mine to eventually return to operations.”

Cerro de Mercado produced less than 20,000 tonne of iron concentrate per month, below 10% of Ahmsa's needs.

Under the proposed closure, the shortfall would be made up by increased output at the company's other Mexican mines.

Unofficial strikes at the Mina V and Mina VI coal mines, Lavadora plant and Hércules iron ore operation were lifted last month after the company offered 5,500 peso (USD 300) loans to workers on top of 4,500-peso profit-sharing bonuses.

Source : BNAmericas

voda 8 juni 2017 17:02

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AK Steel increase price for carbon steel products by USD 30

AK Steel announced that it will increase current spot market base prices for all carbon flat-rolled steel products by a minimum of USD 30 per ton, effective immediately with new orders.

Source : Strategic Research Institute

voda 8 juni 2017 17:03

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MMK announces new business name change

Magnitogorsk Iron and Steel Works announced that in line with the resolution passed by the Annual General Meeting of Shareholders of OJSC MMK, an entry in Unified State Register of Legal Entities was made regarding Open Joint Stock Company Magnitogorsk Iron and Steel Works on state registration of changes in the articles of association of a legal entity (new version of the Charter), which now include its new business name.

Source : Strategic Research Institute

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voda 8 juni 2017 17:04

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TATA Steel wins awards for environment protection in Jharkhand

Press Trust of India reported that Private steel major Tata Steel bagged first prize for its commendable work in the area of environment protection, improvement and awareness.

Jharkhand State Pollution Control Board gave the award to Tata Steel in the presence of Jharkhand Chief Minister, Mr Raghubar Das at function organized to mark World Environment Day in Ranchi.

The company won the first prize in the 'Large Industry' category with respect to environment management and creating environment awareness in the society.

Source : Press Trust Of India

voda 8 juni 2017 17:04

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GAIL's local sourcing policy to boost Indian steel pipe makers

Money Control reported that Prime Minister Narendra Modi’s Make in India mission received a big boost when state-owned GAIL India issued a tender for a INR 3,000 crore pipeline project giving preference to domestic steel companies, which have been badly hit by cheap imports from China.
he move will pave the way for domestic steel companies to get contracts worth billions of dollars from the government, helping them deleverage their balance sheets and help banks improve their recovery.

Steel Minister Chaudhary Birender Singh was quoted as saying that all tenders from central and state governments along with state firms will give preference to domestic firms in projects worth more than INR 50 crore.

The decision is aimed at achieving the twin objectives of creating local employment opportunities and providing a level playing field for domestic players.

The minister said that companies wanting to invest in India are welcome and the government would invite anyone who is willing to share and transfer technology.

Gail India will start with orders worth INR 1,000 crore initially.

Source : Money Control

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voda 8 juni 2017 17:19

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Iron ore transportation led to pollution in mining areas - GSPCB

Herald Goa reported that close on the heels of the battle of the Sonshi villagers against dust pollution, the Goa State Pollution Control Board has admitted that iron ore transportation led to pollution in mining areas. Under the National Air Monitoring Programme, the Board monitored the ambient air quality in areas affected due to mining transportation activities. The data was collected from the mining areas of Assonora, Bicholim, Honda, Codli, Amona, Usgao, Curchorem, Quepem and Sanguem.

The annual report said that “The data indicates PM 10 (dust pollution) exceeds the permissible limit at Amona, Assonora, Bicholim, Codli, Curchorem, Honda, Sanguem, Tilamol, Quepem and Usgao. Whereas the SO2 (sulphur dioxide), NO2 (nitrogen dioxide) and PM 2.5 levels are within permissible limit.”

As per the data, the Codli mining site area is the most polluted with PM10 recorded as 90.1pg/m3 as against the prescribed limit of 60pg/m3. This is followed by Curchorem (89.2 pg/m3), Bicholim (88.7pg/m3), Honda (88.1pg/m3), Sanguem and Tilamol, Quepem (86pg/m3 each), Usgao (84.9pg/m3), Amona (84.1pg/m3) and Assanora (79.9pg/m3).

Source : Herald Goa

voda 9 juni 2017 15:27

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The Latest China Steel Intelligence Report

See PDF

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voda 9 juni 2017 15:58

0

EU-importheffingen op Chinees staal

Gepubliceerd op 9 jun 2017 om 13:27 | Views: 1.339

ArcelorMittal 15:41
19,05 +0,25 (+1,33%)

BRUSSEL (AFN) - De Europese Unie legt definitieve importheffingen op Chinees gewalst staal op, dat onder meer wordt gebruikt in de scheepsbouw, voor gasflessen en pijpleidingen. De maatregel moet dumping van goedkoop staal uit China op de Europese markt tegengaan en producenten zoals ArcelorMittal en ThyssenKrupp beschermen.

De heffing op zogenoemde hot rolled flat steel uit China bedraagt maximaal 35,9 procent. De EU heeft inmiddels importheffingen opgelegd op een reeks staalproducten uit China.

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