Eurobench.com

[verwijderd] 9 mei 2014 12:58

0

Hier de link naar de factsheet 1e kw. 2014.

Toch is er al veel verbeterd hoor!!

corporate.arcelormittal.com/~/media/F...

voda 9 mei 2014 15:36

0

ArcelorMittal verkleint verlies - Update
Door Alex MacDonald

Van DOW JONES NIEUWSDIENST

AMSTERDAM (Dow Jones)--Staalfabrikant ArcelorMittal (MT.AE) heeft in het eerste kwartaal het nettoverlies verkleind, geholpen door hogere staal- en ijzererts verzendingen, waardoor het bedrijf zijn outlook voor het jaar bevestigt.

ArcelorMittal, dat meer staal maakt dan zijn twee grootste concurrenten samen en goed is voor ongeveer 6% van de wereldwijde staalproductie, rapporteerde vrijdag een nettoverlies van $205 miljoen, of $0,12 per aandeel, in de drie maanden tot 31 maart. In dezelfde periode een jaar eerder bedroeg het verlies $345 miljoen, of $0,21 per aandeel.

Het nettoverlies nam af door een stijging van de staalverzendingen met 21% en 28% meer verzendingen van ijzererts, waarmee een daling van de gemiddelde verkoopprijzen van ijzererts en staal ruimschoots werd gecompenseerd.

Het concern registreerde een hogere winst per verscheepte ton staal in al zijn regionale segmenten, met uitzondering van Noord-Amerika waar een strenge winter leidde tot minder leveringen en hogere energieprijzen. ArcelorMittal wist zijn winstmarge te verbeteren, door een gestegen productie in combinatie met kostenbesparingen.

De winst voor rente, belastingen, afschrijvingen en amortisatie steeg 12% tot $1,75 miljard in vergelijking met hetzelfde kwartaal een jaar eerder. Dit was overeenkomstig analistenverwachtingen. De omzet steeg met 0,2% naar $19,79 miljard.

Toch boekte het bedrijf een nettoverlies, voor de zevende keer op rij, vooral door een last van $1,08 miljard aan afschrijvingen en amortisatie, netto rentelasten van $426 miljoen, verliezen door valutaschommelingen en andere financiele lasten van $384 miljoen. Dit was grotendeels in overeenstemming met soortgelijke kosten in het eerste kwartaal van vorig jaar.

De nettoschuld steeg naar $18,5 miljard eind maart van $16,1 miljard eind december, vanwege hogere werkkapitaal eisen. ArcelorMittal bevestigde zijn doelstelling om de nettoschuld op middellange termijn te beperken tot EUR15 miljard.

De onderneming uit Luxemburg heeft in de afgelopen jaren flinke herstructureringen doorgevoerd in reactie op dalende staalprijzen en een zwakke vraag, vooral in Europa waar verliesgevende productiecapaciteit werd stilgelegd. ArcelorMittal verkocht bezittingen en verlaagde dividend om schuld terug te betalen.

De onderneming herhaalde zijn verwachting dat de EBITDA dit jaar stijgt tot ongeveer $8 miljard, ten opzichte van $6,89 miljard in 2013.

"De vooruitzichten voor de groei van onze kernmarkten in Europa en de VS zijn bemoedigend en over het algemeen blijven we voorzichtig optimistisch over de zakelijke vooruitzichten voor de rest van 2014", zegt Chief Executive Lakshmi Mittal over het afgelopen kwartaal.

Analist Seth Rosenfield van Jefferies zei dat de resultaten grotendeels overeenkomen met zijn verwachtingen. "Het feit dat ze nog steeds [tegenslagen in Noord-Amerika] kunnen overwinnen met een groei van de groepsmarge over de gehele breedte is zeker positief", zei hij.

ArcelorMittal heeft ook zijn doelstelling verhoogd voor de productie van ijzererts in 2015 met 11 miljoen ton naar 95 miljoen ton per jaar als gevolg van uitbreiding in Canada en Liberia.

Door Alex MacDonald; Dow Jones Nieuwsdienst: +31-20-5715200; amsterdam@wsj.com

voda 9 mei 2014 15:54

1

Analisten over ArcelorMittal

VRIJDAG 9 MEI 2014, 13:25 uur | 1720 keer gelezen

Vrijdag maakte staalconcern ArcelorMittal de cijfers over het eerste kwartaal van 2014 bekend. Het bedrijf heeft betere resultaten geboekt dan in dezelfde periode vorig jaar, waarbij de omzet ongeveer gelijk bleef. Beleggers zetten het aandeel een kleine 3 procent in de min, maar wat vinden analisten van de kwartaalcijfers?

Analisten van Rabobank zetten vraagtekens bij de lage prijs van ijzererts. Zij vragen zich af of het bedrijf nog aan de verwachtingen voor dit jaar kan voldoen. Volgens Rabobank is een ebitda van 1,75 miljard dollar beter dan verwacht. Toch viel de groei van de verschepingen met 2,4 procent iets lager uit dan voorspeld.

Het staalbedrijf handhaaft de prognose dat de ebitda dit jaar uitkomt op ongeveer 8 miljard dollar. Daar zet Rabobank dus vraagtekens bij, omdat uitgegaan wordt van een prijs van ijzererts van 120 dollar per ton. De huidige prijs ligt echter rond de 100 dollar. Rabobank houdt wel vast aan een het koopadvies voor het aandeel, met een koersdoel van 16 euro.

Verbetering van resultaten

Tom Muller, aandelenanalist bij Theodoor Gilissen, verwacht een verdere verbetering van de resultaten, vooral in Europa. Muller wijst erop dat ArcelorMittal een ruime kasstroom en een sterke marktpositie heeft. De rating van Theodoor Gilissen voor het aandeel is aanbevolen.

ING wees op de kleine positieve verrassing bij de ebitda. Analist Jaap Kuin: ‘De aanname voor de ijzerertsprijs zal een veel besproken onderwerp blijven.’ Daarnaast wees hij erop dat de staalleveringen in Europa het sterkst groeiden en dat het bedrijf in Noord-Amerika last heeft gehad van de strenge winter. Ook ING houdt vast aan het koopadvies voor het aandeel.

Lees ook: ArcelorMittal ziet Europese markt aantrekken

Door Belegger.nl/ANP

www.belegger.nl/beurstips-en-handelsk...

voda 9 mei 2014 16:27

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China steel output has plateaued - CISA

Reuters reported that China's steel output has plateaued as tougher environmental measures have curbed capacity expansion with mills also pressured by tighter credit despite rapid expansion by iron ore miners.

Mr Wang Xiaoqi VP of the China Iron and Steel Association said that "The urge to expand has been curbed. Companies are no longer expanding capacity. They are putting an emphasis on environmental protection."

The fight against pollution has led to the shutdown of some steel mills in China, the world's biggest producer of the alloy, where output reached a record 779 million tonnes last year. Tight credit has also increased costs for steel makers by 22% in the Q1 from a year ago.

Mr Zhang Dianbo assistant president at Baosteel Group said that "China's steel industry is faced with great pressure and many trading companies and mills are going for offshore financing to support themselves. Mr Zhang said that "There will be more defaults happening but this is not the mainstream. Baosteel has forecast China's total crude steel output will rise 3.8% in 2014 to 809 million tonnes.

Mr Yang Siming chairman and CEO of Nanjing Iron and Steel Group said that "The iron and steel industry has entered a real winter. There is excessive production capacity, the growth in steel consumption is slacking, companies are losing money and facing tight credit, bankruptcy is emerging."

Source - Reuters

voda 9 mei 2014 16:29

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China iron ore futures fall to six week low on tepid buying

Reuters reported that Chinese iron ore futures fell for a second day to a six week low on reduced buying interest from steel mills in top consumer China due to tight credit and high port stockpiles.

The benchmark iron ore contract for September delivery on the Dalian Commodity Exchange slumped to a session low of CNY 738 per tonne, a level last seen on March 25. It dropped 2.1% to CNY 743 by midday break.

An iron ore trader in Beijing said that "We have found it difficult to sell this week, and there are even no inquiries right now. Steel mills are pushing to lower buying prices but we can't sell too low, and we think prices will hold above USD 103 per tonne."

Chinese banks have slashed credit to the steel sector on concerns about increasing default risks and record level port stockpiles.

Source – Reuters

voda 9 mei 2014 16:33

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Global iron ore glut threatens Chinese miners

Reuters quoted BHP Billiton as saying that mainland iron ore miners face a rising challenge from increased overseas supplies of raw material for steel and some higher cost capacity will probably be forced to close.

Mr Michiel Hovers VP of iron ore marketing at BHP said that “The gain in global production is being led by Australia and Brazil and their new, low cost output will displace marginal suppliers in China.”

Mr Hovers said that "Seaborne supply growth will come largely from Australia and Brazil. This new supply will be low cost seaborne and displace marginal supply from high cost domestic Chinese producers and other lower-quality iron ore imports into China."

Mr Claudio Alves global marketing and sales director for Vale said that “The company plans to raise output by almost 50% by 2018. The biggest producers, including Vale, BHP, Rio Tinto and Fortescue Metals, have invested billions of dollars to expand output, betting on sustained growth in demand from China, the biggest buyer. Iron ore fell into a bear market in March amid forecasts for a global glut.”

According to data from The Steel Index, ore with 62% content delivered to Tianjin has lost 21% this year to USD 106 per dry tonne. The benchmark price fell to USD 104.70 on March 10, the lowest level since October 2012. Prices may decline to USD 95 in the Q4.

According to Australia's Bureau of Resources and Energy Economics, if prices drop to USD 100, supplies in China may be hurt as mainland mines with high production costs are forced to cut output or close. By comparison, Rio Tinto can be profitable above USD 36 and BHP's break even is USD 38.

Global seaborne supplies will increase by 114 million tonnes to 1.25 billion tonnes this year, Morgan Stanley estimated in a report. That would increase the worldwide surplus to 71 million tonnes this year from 900,000 tonnes last year.

Mr Alves said that "What's happening now is the major iron ore producers are bringing considerable new capacity. Citing a rise of about 108 million tonnes this year and 90 million next year. Most of the tonnage is very competitive."

He said that it would take time to absorb that pickup in iron ore supply, forecasting that China's imports will rise to more than 816 million tonnes this year from about 743 million tonnes last year. It will make some pressure in terms of price, create some volatility.

Source – Reuters

voda 9 mei 2014 16:34

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European Commission proposes EUR 3.6 million aid to Romanian steel mills workers

The European Commission has proposed to provide Romania with EUR 3.6 million from the European Globalisation Adjustment Fund to help 1 000 former workers of the steel products manufacturer SC Mechel Campia Turzii SA and the downstream producer SC Mechel Reparatii Targoviste SRL to find new jobs.

The measures co-financed by the EGF would help 1 000 workers in finding new jobs by providing them with:
1. Career guidance and skills assessment,
2. Training,
3. Support to entrepreneurship and
4. A variety of allowances.

One of the flagship measures will be to help 250 of the workers to set up a cooperative enterprise that will manufacture sports equipment. The total estimated cost of the package is EUR 7.14 million of which the EGF would provide half.

Romania applied for support from the EGF following the dismissal of more than 1 500 workers in Mechel Campia Turzii and in Mechel Reparatii Targoviste in the Cluj region of Romania. The dismissals were the result of increased competition from steel products manufacturers elsewhere in the world. The proposal now goes to the European Parliament and the EU's Council of Ministers for approval.

Source – Ec.europa.eu

voda 9 mei 2014 16:35

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AISI update on steel imports into US in April

Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis data, the American Iron and Steel Institute announced that steel import permit applications for the month of April total 3,682,000 net tonnes. This was a 4% increase from the 3,551,000 permit tonnes recorded in March and 14% increase from the March final imports total of 3,234,000 NT.

Import permit tonnage for finished steel in April was 2,658,000, up 9% from the final imports total of 2,439,000 in March. For the first 4 months of 2014 (including April SIMA and March final), total and finished steel imports were 13,407,000 NT and 9,814,000 NT, respectively, up 29% and 19% from the same period in 2013. The estimated finished steel import market share in April was 28% and is 26% year to date.

Finished steel imports with large increases in April permits vs. the March final included standard rails (up 108%), wire rods (up 55%), standard pipe (up 52%), heavy structural shapes (up 41%), cold rolled sheets (up 34%), line pipe (up 29%) and hot rolled bars (up 19%). Products with significant year to date increases vs. the same period in 2013 include wire rods (up 105%), plates in coils (up 63%), cold rolled sheets (up 54%), reinforcing bars (up 40%), sheets and strip hot dipped galvanized (up 36%), sheets and strip all other metallic coatings (up 35%), hot rolled sheets (32%), mechanical tubing (31%), oil country goods (up 16%) and cut lengths plates (up 12%).

In April, the largest finished steel import permit applications for offshore countries were for South Korea (402,000 NT, up 16% from March final), China (398,000 NT up 99%), Japan (195,000 NT, up 14%), Turkey (121,000 NT, down 29%) and Russia (103,000 NT, up 3%). Through the first four months of 2014, the largest offshore suppliers were South Korea (1,568,000 NT, up 27% from the same period in 2013), China (965,000 NT, up 73%) and Japan (692,000, up 5%).

Source – Strategic Research Institute

voda 9 mei 2014 16:40

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US steel makers push to rebrand canned food as healthy and convenient

When the steel industry goes to Washington, it usually talks about trade, tariffs and taxes. But there is also the small matter of fruit cocktail.

After years of declining food can shipments, steel makers and packaging producers are in the midst of an ambitious push to rebrand canned goods as convenient health food. They’re even trying to rename the pantry, to cantry.

These industry groups have been wooing Americans with recipes for canned pineapple chicken salad and chocolate cake with peaches and beets. But they have also been commissioning nutrition research and lobbying to make canned goods a bigger part of government programs.

Mr Rich Tavoletti executive director of the Canned Food Alliance said that “One of the biggest obstacles has been the belief that canned food is not nutritious. We’ve had to educate consumers.”

The alliance, a consortium affiliated with the American Iron and Steel Institute that includes steel producers and can makers, is getting results: A pilot program tucked into the five-year farm bill passed by Congress in February will soon let canned food like fruit salad into the federal government’s school snack program, to the dismay of some health advocates.

According to the American Iron and Steel Institute, steel makers have good reason to care about Americans’ eating habits. Most food cans are made of steel, though aluminum has won much of the beverage can market. About 4% of US steel shipments in 2013 were for the container market, which is dominated by food cans but also includes some aerosol cans.

Ms Margo Wootan director of nutrition policy for the Center for Science in the Public Interest said that canned fruit and vegetables can be convenient, affordable and a good option in addition to fresh produce, even though they often contain extra sugar or salt.

But she called the farm bill pilot a benefit to the canned food industry, not to the benefit of children noting that the snack program is meant to be educational, introducing children to more fresh produce. The public health community had been working with the fresh produce industry to oppose the pilot. It’s something we’ve been fighting against for years, and they were finally able to get it in the farm bill.

Source – The Globe and Mail.com

voda 9 mei 2014 16:43

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Positief nieuws voor Aperam?

Global nickel near 15 month high on supply concerns

Reuters reported that nickel prices climbed towards 15 month highs on worries about tightening supplies from Indonesia following an export ban on unprocessed ores and on concerns that political tension could restrict supply from Russia.

The increased tensions in Ukraine, however had the opposite impact on other metals, sparking cautious risk off trading, stirred up by continued concern about growth in China after fresh data. Aluminium hit the lowest levels in over a month.

Three month nickel on the London Metal Exchange climbed to a session high of USD 18,700 per tonne near a 15 month high of USD 18,715 hit on April 28. Nickel trimmed gains to close 0.8% higher at USD 18,650. The metal has surged more than 33% this year.

Prices for nickel ore in China have risen this year after Indonesia banned shipments of the raw material, which is used to make nickel pig iron (NPI), a substitute for refined nickel in its stainless steel industry.

Coinciding with the ore export ban were worries that hefty sanctions could be imposed on Russia, home to the world's largest nickel miner Norilsk Nickel, following its intervention in Ukraine. So far Norilsk is not among the 17 companies that the United States sanctioned. Ukraine has experienced its deadliest week since a separatist uprising began, with the country's slide towards war depressing appetite for risk.

Mr Naeem Aslam chief market analyst at Ava Trade said that "The geopolitical tensions are one of the major drivers for nickel and we do not see this situation finding any solution soon enough so things can very well become ugly before they become any better."

Mr Peter Peng of consultancy CRU in Beijing said that “In a further boost to nickel prices, some stainless steel makers have turned back to refined nickel and scrap metal as feed for their production. NPI production started to drop in April as some of the largest producers also cut back production because their laterite ore stocks decreased greatly."

Nickel pig iron is typically formed from laterite ore with low nickel content, from Indonesia and the Philippines. Some plants had stocked (a total of) about 2 or 3 million tonnes early this year but less than 1 million tonnes is left in their warehouses.

Source – Reuters

voda 9 mei 2014 16:45

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Rio Tinto to test driverless heavy-haul iron ore trains in Pilbara

Rio Tinto is to start tests of driverless heavy-haul iron ore trains on the Tom Price railway in the Pilbara region of Western Australia this month as it moves towards completion of its AutoHaul automation project.

Rio Tinto is investing around USD 518 million in what is the world's first automated long-distance heavy haul system, which is part of its Mine of the Future programme that also includes driverless trucks and automated drills. The trains will be manned initially to ensure the effective operation of the automation equipment but Rio Tinto hopes to install completely automated operations on its entire 1500 kilometer heavy haul network by the end of the year. Around 500 drivers are expected to be affected by the upgrade.

Ansaldo STS won the AUD 317.5 million contract for the development and delivery of an automated train management system in 2012, which includes the supply of a vital safety server for the safe and flexible management of train movements and an on-board driving module. The system utilises existing wayside infrastructure with the contract awarded under the 2010 Rio Tinto-Ansaldo STS Framework Agreement.

Rio Tinto said that AutoHaul is a key part of its plans to export 360 million tonne of iron ore from the Pilbara by 2017, an increase of around 50%. It has also invested in updated locomotive control systems which allow the introduction of electronic-controlled pneumatic braking. Ansaldo STS was awarded this AUD 44.7 million contract under Rafa in July 2012.

Source - www.railjournal.com

GVteD 9 mei 2014 23:32

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09 mei '14 Afbouwen € 10,0 Kepler Cheuvreux
09 mei '14 Verkopen € 10,5 UBS
09 mei '14 Kopen € 16,0 Rabo

[verwijderd] 10 mei 2014 12:28

0

Mittal Shortposities verhoogd

shortsqueeze.com/?symbol=mt

voda 10 mei 2014 14:49

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ArcelorMittal results for the first quarter 2014

ArcelorMittal, the world`s leading integrated steel and mining company, today announced results for the three month period ended March 31, 2014.

Highlights

Health and safety: LTIF rate of 0.85x in 1Q 2014 as compared to 0.93x in 1Q 2013

EBITDA of USD 1.8 billion in 1Q 2014, a 23% improvement as compared to 1Q 2013 on an underlying basis[4]; EBITDA/t increased in all steel segments with the exception of NAFTA which was negatively impacted by extreme weather

Net loss of USD 0.2 billion in 1Q 2014 as compared to a net loss of $0.3 billion in 1Q 2013

Steel shipments of 21.0 million tonnes, an increase of 2.4% as compared to 1Q 2013

14.8 million tonnes own iron ore production as compared to 13.1 million tonnes in 1Q 2013; 9.3 million tonnes shipped and reported at market price as compared to 7.3 million tonnes in 1Q 2013

Net debt of USD 18.5 billion as of March 31, 2014 an increase of USD 2.4 billion during the quarter due to investment in working capital and other payables (USD 1.3 billion), the early redemption of perpetual securities (USD 0.7 billion), M&A (USD 0.2 billion) and foreign exchange (USD 0.1 billion)

Key developments

AM/NS Calvert: In partnership with Nippon Steel & Sumitomo Metal Corporation, the acquisition of ThyssenKrupp Steel USA, a steel processing plant in Calvert, Alabama, was completed on Feb 26, 2014 for a purchase price of USD 1.55 billion

Mining: opportunity to stretch iron ore production capacity from current target of 84 million tonnes by end 2015 to 95 million tonnes has been identified, due to additional 5 million tonnes per annum potential at Liberia and additional 6 million tonnes per annum potential at ArcelorMittal Mines Canada

Outlook and guidance framework

Based on its guidance framework, the Company continues to anticipate 2014 EBITDA of approximately USD 8.0 billion, assuming:
a) Steel shipments increase by approximately 3% in 2014 as compared to 2013
b) Marketable iron ore shipments increase by approximately 15%
c) The iron ore price averages approximately $120/t (for 62% Fe CFR China)
d) A moderate improvement in steel margins

Net interest expense is expected to be approximately USD 1.6 billion for 2014

Capital expenditure is expected to be approximately USD 3.8-4.0 billion for 2014

The Company maintains its medium term net debt target at USD 15 billion

Mr Lakshmi N. Mittal ArcelorMittal Chairman and CEO said "Today`s figures continue to show the improved year-over-year performance of our business driven by recovering steel markets, the expansion of our mining operations, and the continued benefits of our focused cost optimization. The prospects for growth of our core markets in Europe and the US are encouraging and overall we remain cautiously optimistic about the business outlook for the rest of 2014".

Source - Strategic Research Institute

voda 10 mei 2014 14:55

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Japan steel makers to export green technologies

Japan Times reported that the Japan Iron and Steel Federation is stepping up the transfer of the industry’s advanced technologies to help cut carbon dioxide emissions to other Asian countries to tackle global warming.

The industry group has already supplied the technologies to China and India and is now poised to do this in Southeast Asian countries, where steel demand is seen growing and measures to reduce carbon dioxide emissions are inadequate. Producing a ton of crude steel releases 2 tons of carbon dioxide.

In Japan, steel makers are generating some of the electricity they use on their own from gas produced in furnaces or waste heat emitted in the process of making coke from coal. In this way, they are reducing electricity purchases from power suppliers, thereby helping slash carbon dioxide emissions.

According to the federation, energy efficiency at blast furnace steel makers in Japan is 10-30 percent higher than that at U.S. and European peers.

Source - Japan Times

voda 10 mei 2014 14:59

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China's April iron ore imports up 13pct on month - Customs

Reuters reported that China imported 83.39 million tonnes of iron ore in April up 12.75% compared with the previous month.

Data from the customs authority showed that imports for the first four months reached 305.3 million tonnes up 21% on the year. The increase was driven by high production rates at Chinese steel mills over the month, caused by a pick up in seasonal demand, although slower than expected growth had dragged prices down by 3% in April, the fifth consecutive monthly loss.

Source - Reuters

voda 10 mei 2014 15:01

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China steel and cement plants set to shut down more in China - MIIT

The Ministry of Industry and Information Technology said that China will close more steel and cement plants this year than originally planned to deal with oversupply in capacity. This year will see the elimination of 28.7 million tons of annual steel capacity and 50.5 million tons of cement capacity.

Mr Li Keqiang premier of China said in his government report earlier this year that the government had originally targeted 27 million tonnes of steel and 42 million tonnes of cement to be terminated. China’s crude steel output rose to a record high of 779 million tonnes last year.

The government has been phasing out old and inefficient capacity in its industrial sector to revamp its growth model and to fight pollution. The ministry also said 420,000 tonnes of annual aluminum capacity and 115,000 tonnes in lead smelting will be eliminated this year.

Source - Shanghai Daily.com

voda 10 mei 2014 15:03

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China and Japan scramble for nickel after Indonesian ore export ban

Nickel buyers in China and Japan are scrambling to secure supplies as soaring prices and a fear of shortages boosts demand for both refined metal and long-term ore contracts.

The price of nickel ore from the Philippines has more than doubled since late February, as supplies have dried up from rival producer Indonesia, previously the world’s biggest exporter.

China, the world’s largest nickel consumer, has recently increased imports of refined metal to help meet higher seasonal demand, say trader and importers as the price of commonly used alternative nickel pig iron has soared since the Indonesian ban took effect in mid January.

Sources with knowledge of the matter said that nickel demand may get a further boost from stockpiling by China with refined imports due to start arriving at State Reserves Bureau warehouses before the end of June.

Mr Ivan Szpakowski commodities strategist of Citi in Shanghai said that “Everybody in China is bullish nickel and everybody is hoarding nickel of any kind.”

China, the world’s largest steelmaker has turned to laterite nickel ores in recent years to produce nickel pig iron, a cheap, low grade ferronickel an alloy of iron and nickel used in stainless steel. Japanese stainless steelmakers rely mainly on ferronickel producers and scrap for content while other steelmakers use refined nickel for speciality products.

Traders and industry watchers said that nickel users and traders in both countries built up substantial stockpiles of ore ahead of the Indonesian ban that should last major users until the end of the year but long term supply is an issue.

Source - Reuters

voda 10 mei 2014 15:04

0

ICAP Energy launches global iron ore electronic platform

ICAP, the leading markets operator and provider of post trade risk and information services announced that it successfully launched its global iron ore electronic platform on 5 May, coinciding with Singapore Iron Ore Week 2014. The new platform fits seamlessly into ICAP’s existing services offering clients the advantage of global access to a wide range of commodities on a single platform. The first trade occurred between one of ICAP’s traditional clients and a prominent Chinese market participant.

Mr George Dranganoudis MD of Commodities Asia Pacific ICAP said that “The launch and subsequent trades exemplify ICAP’s goal of providing an electronic solution and bridging our traditional customers with the ever growing Chinese market.”

Mr Alex Newman head of Dry Bulk Commodities Asia Pacific said that “ICAP is pleased to offer its global clients this efficient and robust platform as a complimentary tool to its existing voice broking iron ore service.”

Source - Strategic Research Institute

voda 10 mei 2014 15:06

0

China iron ore producers are continuing to ramp up production

SMH reported that the world’s biggest iron ore producers are continuing to ramp up production despite fears from China’s steel industry of overcapacity and the prediction of defaults as the government cracks down on inefficient mills.

Iron ore extended its trend down, slipping 0.9% to USD 105.10 per tonne. The bulk metal has fallen nearly 22% in 2014 putting it into bear market territory. BHP Billiton, Fortescue Metals and Vale all expect demand for iron ore to remain strong, underpinned by Chinese development and urbanization.

Mr Claudio Alves global director of marketing and sales of iron ore for Vale said that “There was no need to slow down production, despite fears of easing growth in China. We are increasing our production. Of course there will be some pressure in terms of price, but our growth more than compensates the pressure in price.”

Mr Alves said that “We have to look to the mass production of iron ore in China, where conditions are continually deteriorating, both in terms of the productivity cost and quality, so all of this gives Vale the right way for us to come with new capacity. Our new capacity will come with lower costs, with better quality, so we don’t think believe it will be necessary to slow production.”

Mr Zhuang Binjin business development group manager of Fortescue Metals said that “The market is too bearish on iron ore and the long term outlook for the metal remains stable and strong. Record high steel inventory levels may have a short term effect on the iron ore price, but that is of no concern to Fortescue with the miner reducing cost of production.”

Mr Binjin said that “As iron ore producers, these decisions made for investment are really made for the long term and I believe in our competitiveness. As long as we are in the first quartile of the cost curve it’s not going to affect an iron ore miner like FMG. Steel mills should be very pleased to see the most cost competitive suppliers have been expanding this capacity so strongly in recent years, it must be a good story for steel mills.”

Mr Liu Yi Nan vice chairman of China Chamber of Commerce of Metals, Minerals and Chemicals said that “We believe that the iron ore suppliers are in a position of high monopoly. The Chinese steel industry are faced with pressure from environment protection. This change will have great influence for this year’s iron ore demand and iron ore prices.”

Mr Wang Xiaoqi VP of China Iron and Steel Association said that “Iron ore’s price has gone down, however compared with the steel price, the decline is not that big. The deeper source is because our development is for quantity and we have overcapacity. That’s why we have to have a price war and we cannot sell our inventory.”

Mr Zhang Dianbo assistant president Baosteel said that “For the steel industry we are also faced with the steel capacity situation and how do we switch to downstream production. I think the Chinese steel industry is faced with great pressure and many trading companies and steel mills are going for overseas or offshore financing to support themselves. With the overseas debt level increases, I think there will be more defaults happening, but this won’t be mainstream.”

Source - SMH.com

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