Eurobench.com

voda 24 januari 2019 20:13

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Canada has decided on taxes for carbon steel welded pipes from Viet Nam

Viet Nam News reported that Canada Border Services Agency has made a final decision on taxes for carbon steel welded pipes from Vi?t Nam. Accordingly, the weighted average margin of dumping on Hòa Phát Steel Piple Company Ltd has been set at 4.9 per cent, SeAH Steel Vina Corporation 3 per cent, and State Pipe and Supply Inc 26.1 per cent, while all other exporters from Vi?t Nam will face a tariff of 54.2 per cent.

These three companies had lower average margin of dumping than other exporters because they responsed promptly to the querries from the investigation agency, according to the Trade Remedies Authority of Vi?t Nam.

The Canadian International Trade Tribunal is continuing its inquiry into the question of injury to the domestic industry and will make an order or finding by February 15.
The investigation was initiated on July 20 last year and covered July 1, 2017 to June 30, 2018. The complainant was Novamerivan Steel Inc, on behalf of its subsidiaries Nova Tube Inc and Nova Steel Inc.

According to its complaint, the dumping of carbon steel welded pipes originated from Pakistan, the Philippines, Turkey and Vi?t Nam caused Nova suffer injury in the form of lost sales, price undercutting and price suppression.

The volume of imported carbon steel welded pipe grew from 47,657 tonnes in 2015 to 91,739 tonnes during the period of investigation. It added the price of imports had substaintially affected the price of domestic products.

Source : Vietnam News

voda 24 januari 2019 20:14

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NCLAT asks NCLT Ahmedabad to take decision on Essar Steel insolvency case by Jan 31

Economic Times reported that National Company Law Appellate Tribunal directed the Ahmedabad bench of NCLT to pass an order on the insolvency resolution plan submitted by Essar Steel's RP: in which ArcelorMittal emerged as the highest bidder. A two-member bench of NCLAT headed by Justice S J Mukhopadhaya said that if the Ahmedabad bench of National Company Law Tribunal does not pass any order by January 31, then it would call the matter and pass an order accordingly on the next date of hearing.

The appellate tribunal has directed to list the matter on February 4 for next hearing. NCLAT said that “We allow designated authority to pass appropriate orders by next date, failing which this appellate tribunal will decide.”

The matter is listed before the Ahmedabad bench of NCLT on January 31 for hearing.

Source : Economic Times

voda 24 januari 2019 20:15

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AISI Welcomes New Steel Caucus Leadership

Mr Thomas J. Gibson, president and CEO of AISI, issued the following statement in reaction to the announcement that Rep. Conor Lamb (D-PA) will be the new Chairman of the Congressional Steel Caucus:

He said “I commend Congressman Lamb’s commitment to the steel industry and to the nearly two million jobs our industry supports, and welcome him as Chairman of the Congressional Steel Caucus. We look forward to working with him, and caucus Vice-Chairmen Reps. Mike Bost (R-IL) and Rick Crawford (R-AR), to continue to advance public policies that support American steel and enhance manufacturing competitiveness. The strong bipartisan leadership of the caucus is critical to ensuring Congress supports policies that create jobs in steel and promote steel as the backbone of manufacturing. AISI also thanks Congressman Pete Visclosky (D-IN) for his long-time leadership of the Steel Caucus and steadfast support for the industry. We look forward to continued collaboration with the distinguished leadership of the Congressional Steel Caucus.”

Source : Strategic Research Institute

voda 24 januari 2019 20:21

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Chile Codelco headed for possible strike at Gabriela Mistral

Investing News reported that union leaders at Chilean state-miner Codelco’s Gabriela Mistral mine have voted against a new labor agreement at the company’s sixth-largest mine, with strike action looming. As reported by Reuters on January 22, an offer made during negotiations over bonuses has been voted down.

Ana Catalan, union president said that “We have rejected their proposal and have voted to strike.”

Gabriela Mistral, located in Sierra Gorda has been operational since 2008, and in 2017 produced 122,737 tonnes of copper well behind Codelco’s largest mine, El Teniente, which produced 464,328 tonnes in the same year.

According to Reuters, members of the union at Gabriela Mistral want higher bonuses, and have been discussing differences in bonuses between different unions at Codelco’s mines.

Codelco is yet to respond to news that the union has voted to strike; under Chilean law, government mediation must take place over five days before workers are legally allowed to down their tools.

Codelco has been busy negotiating with unions over the past few months; in early December it struck a deal with workers at its Ministro Hales mine — Codelco’s newest operation, and the next mine up Codelco’s list of producing assets in regards to output.

Source : Investing News

voda 24 januari 2019 20:48

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New record at Port of Port Hedland

Pilbara Ports Authority has achieved a new record tonnage on a single tide at the Port of Port Hedland. On 15 January 2019, 10 vessels departed the port in convoy carrying a total of 1,754,741 tonnes of bulk product, exceeding the previous record from December 2017 by 165,680 tonnes.

Port Hedland Harbour Master, Myron Fernandes congratulated all involved noting that a combination of factors contributed to the new record. He said “Pilbara Ports Authority has invested in industry-leading practices in recent years to maximise the efficiencies of vessels entering and exiting the harbour. The port also works closely with its port users and service providers to ensure the port is able to safely export more product, more efficiently.”

The Port of Port Hedland is the world’s largest bulk export port and plays a critical role in facilitating the export of commodities from the resource rich region.

Source : Strategic Research Institute

voda 24 januari 2019 21:05

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Kogi Iron reapplies for Agbaja iron ore deposit licence

Kogi Iron Limited and its 100% owned Nigerian subsidiary KCM Mining has provided an update on its portfolio of exploration and mining licences for the Agbaja iron ore deposit, Kogi State, Nigeria. Kogi has received final documentation from the Federal Republic of Nigeria, Ministry of Mines and Steel Development, granting Exploration Licence EL 28784, which replaces EL 16998.

EL 16998 was first approved in September 2015 and has been replaced by EL 28784 in the normal course of business.

Following this grant, KCM now holds 100% interests in Mining Leases ML24606, ML24607 and ML 25376; and retains Exploration Licences EL14847 and EL28784 where the Company plans to conduct additional exploration.

Don Carrollm, Chairman of Kogi Iron Limited, said “The maintenance of our mining leases and exploration permits is a key role of our management team at KCM Mining and it is pleasing to see the continuing positive results of this work.”

Source : Strategic Research Institute

voda 25 januari 2019 13:13

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'Wallonië stopt nog eens €100 mln in staalindustrie'

De Waalse overheid is van plan om nog eens €100 mln in de staalindustrie in de regio te pompen. Volgens Franstalige media in België neemt Sogepa, de participatiemaatschappij van de Waalse overheid, vrijdag een besluit over de investering.

De steun zou naar twee vestigingen van het Russische staalconcern NLMK gaan in het Henegouwse La Louvière en de Waals-Brabantse plaats Klabbeek. Cogepa heeft een belang van 49% in NLMK Europe.

De NLMK-fabriek in Klabbeek in Waals-Brabant. De foto is van mei 2017.Foto: Hollandse Hoogte

Wallonië, een regio waar traditiegetrouw de Parti Socialiste het voor het zeggen had, heeft in het verleden forse bedragen geïnjecteerd in zijn zware industrie, die steeds meer moeite kreeg om het hoofd boven water te houden.

In de nieuwe regering van liberalen en christendemocraten, die anderhalf jaar geleden aantrad, zou volgens L'Echo zou intensief zijn gedebatteerd over de vraag hoelang het gewest nog moet doorgaan met het steunen van de staalsector.

Een week geleden schreef L'Echo dat in Klabbeek ongeveer de helft van de zeshonderd arbeidsplaatsen op de tocht staat.

fd.nl/economie-politiek/1287077/wallo...

voda 25 januari 2019 15:14

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Wereldwijd meer staal geproduceerd

FONDS KOERS VERSCHIL VERSCHIL % BEURS
ArcelorMittal
19,86 0,866 4,56 % Euronext Amsterdam

(ABM FN-Dow Jones) De mondiale staalproductie is in 2018 gestegen. Dit bleek vrijdag uit cijfers van brancheorganisatie World Steel Association.

In totaal maakten de 64 staalproducerende landen afgelopen jaar 1.809 miljoen ton staal. In alle regio's steeg de productie, met uitzondering van de Europese Unie. In de EU daalde de productie met 0,3 procent.

In China, wereldwijd met afstand de grootste fabrikant van staal, steeg de productie in 2018 met 6,6 procent tot 928 miljoen ton.

De Verenigde Staten produceerden in 2018 6,2 procent meer dan een jaar eerder.

In Duitsland daalde de productie echter met 2,0 procent.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved.

voda 25 januari 2019 15:41

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India may face iron ore shortage in 2020

Argus reported that India may face a significant shortage of iron ore in 2020 as private-sector merchant mining leases expire as the mining leases, which are due to expire on 31 March 2020, cannot be automatically renewed and instead have to be put up for auction and granted new environmental clearances and this process typically takes up to 3-4 years to complete. However, estimates of the likely impact on production vary (50 million tonnes per year Dr AS Firoz; 80 million tonnes per year Crisil). Both estimates account for a sizeable chunk of India's iron ore production, which totalled 210 million tonnes in the financial year that ended 31 March 2018.

Government officials said they are confident the process of holding fresh auctions and securing environmental clearances will be handled expeditiously to ensure sufficient supplies are available for domestic steelmakers. Bipul Pathak, joint secretary at the ministry of mines, said "The ministry of mines is monitoring the situation closely. We will ensure that there is no disruption to mining. All the mines will go for fresh auction and we will co-ordinate closely with the ministry of environment for faster clearance.”

The Indian government has set a deadline of 1 April 2019 for states to start the auction process, although the deadline is not binding. But general elections are due in April and May, so state governments may be focused on more politically-sensitive projects. Most of the leases that are due to expire are in the largest producing state of Odisha, followed by Goa and Karnataka.

Source : Argus

voda 25 januari 2019 16:48

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Elliott has doubts about Thyssenkrupp split - Report

Reuters, citing a person familiar with the matter, reported that activist fund Elliott raised doubts about Thyssenkrupp’s plan to split in two in a letter to the conglomerate’s chief executive last month. The person said that Elliott said in the December 10 letter “We have our doubts whether the proposal has the desired positive effects.”

The remarks add to scepticism expressed by other shareholders about the German group’s plan, announced in September, to spin off its capital goods businesses.

The letter, whose existence was first reported by Germany’s Manager Magazin, was written in response to remarks by Thyssenkrupp’s boss Guido Kerkhoff, who in November said he had not heard from Elliott since July

Elliott in May said it had taken a stake of less than 3 percent in Thyssenkrupp, a move that was followed by the resignation of both the company’s chief executive and chairman, two profit warnings as well as the break-up plan.

Source : Reuters

voda 25 januari 2019 16:49

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POSCO inks contract with BRPL for iron ore pellet supply

POSCO, the biggest steel producer in South Korea, was heard to have signed a term contract with Indian miner Brahmani River Pellets Limited, or BRPL, for pellet supply. This is the first time POSCO has signed a term contract with an Indian miner to import pellet. Source from BRPL said that price will be negotiated every month on spot market basis, and volume is 200,000 tonne in total.

The term contract started from January, and POSCO bought a 64% Fe BRPL pellet from the miner at USD 112/dmt CFR South Korea for the first shipment, loading February.

BRPL exported six shipments last November totaling 340,000 tonne. This is the recorded highest level for Indian pellet producers.

This is the recorded highest level of exports for Indian pellet producers.

Source : Platts

voda 25 januari 2019 16:54

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ILVA emissions endanger locals' health - Strasbourg Court

ANSA reported that the European Court of Human Rights in Strasbourg said that Taranto's troubled ILVA steel plant endangers the health of the entire population in the area. It said "The persistent pollution caused by ILVA's emissions have endangered the health of the entire population that lives in the area at risk.”

It also noted that national authorities did not take all the necessary measures to effectively protect the right to the respect of the private lives of plaintiffs.

The court said that measures to ensure the protection of the health and the environment need to be implemented as soon as possible.

The court in 2016 opened proceedings against the Italian State for allegedly having failed to protect the life and health of 182 people in the southern city from the effects of emissions.

Source : ANSA

voda 25 januari 2019 16:55

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SSAB wide product range for diverse industries at SteelFab 2019

SSAB, market leader in quenched and tempered steel with minimum 700mPA yield strength, participated in SteelFab 2019 to exhibit its wide range of products for the heavy transport and raw material handling industries including construction and mining. Hardox® 500Tuf and Strenx® 700 for the tipper body and chassis, Hardox® 600 for the mining industry, cement factories and quarries and Hardox® Hitemp, a unique product that can withstand high temperatures were on display and well received.

Mr Ozgur Yalcin, Area Sales Manager, Middle East, at SSAB said that “We are pleased with our presence at SteelFab 2019. Customers from all the emirates as well as the GCC and even the wider MENA region visited our stand. The response to our presence at the exhibition has been enthusiastic, and we are confident that visitors got a good overview on how Hardox® and Strenx® can add value in their industries and applications. We got positive feedback from existing customers which too was encouraging. As an organization, we are really focused on customer satisfaction and I am sure that Hardox® and Strenx®, supported by our local Hardox Wearparts network will greatly help the region’s cement, concrete and crusher organizations in driving efficiency and profitability.”

He added that “Our new introductions have increased our market penetration further. Hardox 500Tuf, now in the market, is opening new design possibilities for our customers. The Hardox® 600 offers unrivalled service lifetime to the mining industry, cement factories, crushers and quarries. Hardox® Hitemp for high temperature applications has also been successfully promoted in the market.”

Mr Ozgur Yalcin said that “Our focus on the Middle East markets is testified by our strong presence in the region. SSAB has its own qualified engineers in the market who know the Hardox® and Strenx® products and their applications. We have a wide range of stock in the Hamriyah free zone and we can deliver within a maximum period of 48 hours from our inventory. We are constantly innovating and researching to develop new steel grades that offer better solutions. We collaborate with our customers to manufacture lighter, stronger and sustainable products.”

Source : Strategic Research Institute

voda 25 januari 2019 16:57

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Japan’s Iron & Steel Production in 2018 -JISF

Voor cijfers, zie pdf.

Source : Strategic Research Institute

Bijlage:

voda 25 januari 2019 17:00

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EU steel import quotas will not affect trade ties with Serbia – Report

Tanjug reported that with the EU's definitive decision on steel import quotas set to be officially announced on February 4, unofficial diplomatic sources in Brussels said the new quotas would not affect traditional trade ties with Serbian steel mills. With the EU's definitive decision on steel import quotas set to be officially announced on February 4, unofficial diplomatic sources in Brussels said the new quotas would not affect traditional trade ties with Serbian steel mills. Sources said that In case of negative effects on economic integration and stabilisation of Serbia, a review of the measures will be launched based on the Stabilisation and Association Agreement.

In response to a letter from Serbian President Aleksandar Vucic, European Commission President Jean-Claude Juncker recently conveyed roughly the same message.

The Source said that "Serbia will be covered by the new measures but the quotas should maintain the traditional trade ties between EU consumers and Serbian steel producers. In case of different results, there is the review, which can adjust the measures."

Source : Tanjug

voda 25 januari 2019 17:00

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KNM Group bags contract to supply large carbon steel pressure vessels to TTSJV WLL

KNM Group Bhd’s wholly owned subsidiary KNM Process Systems Sdn Bhd has bagged a USD 6.83 million (RM28.17 million) contract from TTSJV WLL to supply large carbon steel pressure vessels. KNM told the stock exchange that “The supply and delivery duration of the product is for a period of 13 months commencing from the purchase order for the supply to be issued within 15 calendar days from the date of the award.”

The award is expected to contribute positively to the group’s earnings for the financial year ending Dec 31, 2019 and Dec 31, 2020.

TTSJV WLL is a Bahrain incorporated company, jointly owned by Technip group of companies and Samsung Engineering Co Ltd.

Source : The Sun Daily

voda 25 januari 2019 17:01

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Hyundai Steel has awarded SMS FAC for straightening machine for the medium section mill

Korean Hyundai Steel has awarded SMS group the Final Acceptance Certificate after successful commissioning of a new straightening machine for the medium section mill at its Incheon site, South Korea. The new horizontal roller straightener replaces an existing straightener installed in 1995. With this new horizontal roller straightener from SMS group, Hyundai Steel is able to roll larger sheet piles and beams up to a web height of 450 millimeters. In addition to extending the product range, the straightener helps to improve the tolerances and quality of the sections.

This straightener type impresses also with reduced maintenance and lower media consumption while maintaining a high level of process reliability.

Source : Strategic Research Institute

voda 25 januari 2019 17:03

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Kenwal Steel installs Braner/Loopco slitting line

The Fabricator reported that Kenwal Steel has installed a Braner/Loopco Triple Turret Head™ slitting line in its Dearborn, Mich., coil processing center. The line can process high-strength, 70,000-lb. by 72-in.-wide coils with mechanical properties to 128,000 PSI in gauges from 0.060 to 3/8 in.

The line includes discrete high-torque and high-speed cruise control operating modes for processing heavy- and thin-gauge coil; a three-head turret slitter fitted with 72- and 60-in. heads that feature threadless, lightweight tooling lockup; Andiamo automatic line thread-up; power edge trim scrap thread-up; and an array of production automation and safety apparatus.

Source : The Fabricator

Bijlage:

voda 25 januari 2019 17:03

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Universal Stainless announced Q4 result

Universal Stainless & Alloy Products Inc reported that net sales for the fourth quarter of 2018 were USD 57.1 million, an increase of 13.5% from USD 50.3 million in the fourth quarter of 2017, although below 2018 third quarter revenues of USD 69.1 million. All end markets contributed to the year-over-year growth, with the exception of power generation and general industrial. Aerospace remained the Company's largest end market, at 61.5% of total Company sales. Fourth quarter 2018 aerospace sales totaled USD 35.1 million, up 23.7% from the fourth quarter of 2017.

Sales of premium alloys in the fourth quarter of 2018 totaled USD 8.1 million, or 14.2% of sales, compared with USD 7.3 million, or 14.6% of sales, in the fourth quarter of 2017, and USD 9.2 million, or 13.3% of sales, in the third quarter of 2018.

Full year 2018 sales increased 26.3% to a record USD 255.9 million from USD 202.6 million in 2017. Sales of premium alloys were also at a record level for full year 2018 increasing 50.7% to USD 41.1 million, or 16.1% of sales. 2017 premium alloy sales were USD 27.3 million or 13.5% of sales.

The Company's gross margin for the fourth quarter was 11.3% of sales, compared with 12.3% of sales in the fourth quarter of 2017, and 15.1% of sales in the third quarter of 2018. Margins were negatively impacted by continued cost increases in supply items, especially electrodes, coupled with misalignment of customer surcharges. In addition, lower productivity associated with labor contract negotiations, unplanned Bridgeville melt shop maintenance issues, as well as physical inventory adjustments further reduced fourth quarter gross margin.

Selling, general and administrative expenses were USD 5.6 million, or 9.7% of sales, for the fourth quarter of 2018, compared with USD 5.1 million, or 10.2% of sales, in the fourth quarter of 2017, and USD 5.1 million, or 7.4% of sales, for the third quarter of 2018.

Net income for the fourth quarter of 2018 totaled USD 0.6 million, or USD 0.07 per diluted share, (which includes an additional 1.4 million weighted average shares outstanding due to the second quarter 2018 equity issuance), compared with net income of USD 7.9 million, or USD 1.06 per diluted share, in the fourth quarter of 2017, which included a net tax benefit of USD 1.06 per diluted share primarily attributable to the new federal tax legislation. Before the tax benefit, net income in the fourth quarter of 2017 was breakeven. Net income in the 2018 third quarter totaled USD 3.9 million, or USD 0.44 per diluted share.

For full year 2018, net income increased 40.1% to USD 10.7 million, or USD 1.28 per diluted share, (which included an additional 0.8 million weighted average shares outstanding due to the second quarter equity issuance), versus net income of USD 7.6 million, or USD 1.03 per diluted share, in 2017, which included the tax benefit.

The Company’s EBITDA for the fourth quarter of 2018 was USD 5.4 million, compared with USD 5.8 million in the fourth quarter of 2017, and USD 10.1 million in the third quarter of 2018. Full year 2018 EBITDA increased 55.6% to USD 35.6 million from USD 22.9 million in 2017.

Managed working capital at December 31, 2018 totaled USD 123.0 million compared with USD 136.9 million at September 30, 2018.

Backlog (before surcharges) at December 31, 2018 was a record USD 126.2 million, an increase of 13.3% from September 30, 2018, and 62.5% higher than at the end of the 2017 fourth quarter.

Fourth quarter operating cash flow improved from the prior quarter and resulted in a debt reduction of USD 15.8 million in the quarter. The Company’s total debt at December 31, 2018 declined to USD 46.7 million, compared with USD 62.5 million at the end of the third quarter of 2018 and USD 79.7 million at the end of the fourth quarter of 2017.

Capital expenditures for the fourth quarter of 2018 totaled USD 2.2 million compared to USD 6.6 million for the third quarter of 2018 and USD 3.3 million in the fourth quarter of 2017. Fourth quarter capital expenditures were driven by the Company’s mid-size bar cell project at its Dunkirk, NY facility, which began the commissioning process late in the fourth quarter. Benefits related to this project are expected to include both cost and inventory reductions, as well as quality and cycle time improvements.

The Company’s tax rate for the twelve months ended December 31, 2018 was 15.4%. The Company’s effective tax rate is less than the federal statutory rate of 21.0%, primarily due to the favorable impact of federal research and development tax credits.

Mr Dennis Oates Chairman, President and CEO commented that “After a strong three quarters, the 2018 fourth quarter proved to be more difficult than anticipated. Even so, 2018 was a profitable year highlighted by record levels of both premium alloy and total sales. We exited the year with a strong balance sheet and significantly improved liquidity, and enter 2019 with a record backlog and healthy order entry across most of our end markets, especially aerospace. The mid-size bar cell in our Dunkirk, NY facility is on schedule to become fully operational in the 2019 first quarter. We are encouraged by the cycle time and quality improvements that the bar cell is expected to provide.”

Source : Strategic Research Institute

voda 25 januari 2019 17:05

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Jindal Stainless plans to consolidate group units - Report

Economic Times reported that Jindal Stainless group is looking to consolidate its group units Jindal Stainless, its Odisha unit, and Jindal Stainless (Hisar) a move that is expected to unlock value for shareholders and create synergies. The initiation of the consolidation move is expected to take place once the group’s 1.8 million tonne Odisha plant gets out of the last leg of the corporate debt restructuring by March, and is given a clean chit by the State Bank of India, the lead lender in the consortium of banks that have lent to the company. Mr Abhyuday Jindal, MD of Jindal Stainless, told ET that “There are no immediate plans but we would like to look at it in the future as it will create a more stable company and there will be tremendous value that will be created for the shareholders.”

The re-merging of the group companies will form the third step in creating a more valuable company after it split Jindal Stainless (Hisar), the parent company, into JSHL and Jindal Stainless, under an asset monetisation plan (AMP) in 2014 to protect Hisar, the “stronger" unit on a standalone basis, from group’s consolidated liabilities.

The AMP supported the company in achieving a turnaround in profits. It will be followed, Jindal said, by the company “hopefully” coming out of the debt restructuring, and then eventually re-merging the two units.

Source : Economic Times

Vertraagd	14 feb 2025 17:35
Koers	27,220
Verschil	-0,480 (-1,73%)
Hoog	27,650
Laag	26,030
Volume	3.375.349
Volume gemiddeld	2.578.495
Volume gisteren	4.408.986

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