Eurobench.com

voda 14 mei 2014 17:04

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AISI comments on proposed utility greenhouse gas emissions regulations

The American Iron and Steel Institute in conjunction with over a dozen other leading energy, agriculture and manufacturing associations, submitted comments to the Environmental Protection Agency in response to the proposed regulations of greenhouse gas emissions from electric generating utilities.

Mr Thomas J Gibson president and CEO of AISI said that “The proposal, which will limit the CO2 emissions of new power plants and require the use of carbon capture and sequestration technology for new coal fired plants, could have a direct impact on the affordability and reliability of electricity supply to major industrial consumers, like the steel industry."

Mr Gibson said that "This EPA proposal is both economically infeasible and sets a bad precedent for future regulations of direct GHG emissions in other sectors of the economy. As large industrial customers we rely on a cost effective and dependable electricity to keep our mills up and running. This proposed regulation may put the US steel industry and other energy intensive, trade exposed industries at a great disadvantage against our foreign competitors like China, where energy costs are often subsidized."

Source – Strategic Research Institute

voda 14 mei 2014 17:06

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Iron ore ship rates forecast to jump 70 percent by June

Business Times reported that there's so much cheap iron ore flooding into China that rates for the ships that carry it are forecast to jump almost 70% by June, even as the world's second biggest economy grows at the slowest rate in 24 years.

Bookings of Capesize vessels, most of which haul the steelmaking commodity, surged 47% to 90 a month so far in 2014 compared with a year earlier, Morgan Stanley in New York estimates. Both the expansion and the average are the largest for the time of year since 2009. Freight rates will rise as high as USD 20,000 a day by the end of this month from less than USD 12,000 now, Arrow Shipbroking Group in London predicts.

Owners are securing the extra cargoes because project expansions started over the past several years by miners including Rio Tinto Group and BHP Billiton are now producing ore. While that's creating a global glut and pushed iron ore into a bear market, global prices are undercutting China's by the most in 5 years. The commodity will average the least since 2009 this year and fall every year through 2017.

Source - www.businesstimes.com.sg

voda 14 mei 2014 17:07

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Zhejiang pledges to slash steel capacity by 3 MT within five years

According to a recently released plan on resolving overcapacity in the province's steel sector, Zhejiang province, in eastern China, pledges to slash steel capacity by more than 3 million tonnes within five years and capacity utilization rate is expected to rise to above 80%.

According to the plan, the number of steelmaking enterprises in Zhejiang will also be reduced by more than half. Specific measures shall be focused on the following six aspects: strictly controlling new steel capacity projects and cleaning up illegal projects in steel industry that are underway or have been built; actively promoting industrial layout adjustments in the sector and enhancing innovation capability of steel enterprises and supporting steel enterprises to carry out structural adjustments including mergers & acquisitions, technological innovation and backward capacity elimination, etc.

Zhejiang will promote the relocation of Hangzhou Steel away from the city and structural adjustments in steel industry in Wenzhou and Lishui, speed up the construction of steel industrial bases in Wenzhou, Huzhou, JIaxing, Lishui and Quzhou, etc. and enhance the initial establishment of long term mechanism to resolve excess capacity in steel industry.

Source - www.steelhome.cn/en
China steel information centre and industry database

voda 15 mei 2014 16:26

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Moody's: vooruitzichten voor Aperam positief

DONDERDAG 15 MEI 2014, 16:07 uur | 38 keer gelezen

LONDEN (AFN) - Moody's is in zijn beoordeling van de vooruitzichten voor Aperam 180 graden gedraaid, van negatief naar positief. Dat maakte de kredietbeoordelaar donderdag bekend. De beoordeling van de kredietwaardigheid van de roestvrijstaalfabrikant blijft B1.
Volgens Moody's heeft Aperam weten te profiteren van een herstel van de roestvrijstaalmarkt na moeilijke omstandigheden in 2012 en 2013. In die jaren was de vraag naar de producten van Aperam vanuit de auto- en bouwsectoren uitzonderlijk laag, aldus Moody's.

Volgens de kredietbeoordelaar is vooral de Europese markt sterk verbeterd en is het bedrijf de enige van platte roestvrijstaalproducten in Brazilië. Moody's ziet in een stijging van de onder meer de nikkelprijs nog een positieve ontwikkeling voor Aperam en verwacht dat de markt in de komende 12 maanden blijft aantrekken. Aperam zal in de periode een hoger bedrijfsresultaat moeten kunnen halen en een hogere winstmarge, aldus Moody's.

voda 15 mei 2014 16:36

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Salzgitter verkleint verlies

DONDERDAG 15 MEI 2014, 09:16 uur | 39 keer gelezen

SALZGITTER (AFN) - Het Duitse staal- en industrieconcern Salzgitter heeft in het eerste kwartaal zijn verlies weten terug te dringen, vooral dankzij kostenbesparingen. Dat maakte het op één na grootste staalbedrijf van Duitsland donderdag bekend.
Het verlies na belastingen bedroeg 13,3 miljoen euro, tegen een min van 17,1 miljoen euro een jaar eerder. De omzet daalde naar 2,3 miljard euro, van 2,45 miljard euro in dezelfde periode van 2013. Dat kwam vooral door een lager verkoopvolume en de zwakkere verkoopprijzen.

Het verlies voor belastingen kwam uit op 8,7 miljoen euro, tegen 16,1 miljoen euro een jaar geleden. Salzgitter verwacht voor heel 2014 echter bijna quitte te kunnen draaien met de winst voor belastingen. De omzet zal naar verwachting uitkomen op bijna 10 miljard euro.

voda 15 mei 2014 16:49

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TATA Steel registers turnaround in profit in FY 2013-14

TATA Steel Group declared its Consolidated Financial Results for the financial year and Q4 ended March 31st 2014. There was a marked improvement in profitability as the Group net profits for the Q4 ended March 31st 2014 rose to INR 1,036 crores from INR 503 crores in the previous quarter.

Similarly, for the full year ending March 31st 2014, the underlying net profit came in at INR 3,623 crores compared to the underlying profit of INR 332 crores for the year ended March 31st 2013. The improvement in the underlying profitability over the last year was INR 3,290 crores. The improved and steady performance of operations across geographies, despite weak market conditions, led to this significantly improved Group performance.

Group Performance Highlights

1. Group steel deliveries in FY 2013 to 2014 increased to 26.56 million tonne from 24.13 million tonne in FY 2012 to 2013. Deliveries in Q4 FY 2013 to 2014 increased to 7.62 million tonne compared to 6.38 million tonne in Q3 FY 2013 to 2014 and 6.56 million tonnes in Q4 FY 2012 to 2013.

2. Group consolidated turnover in FY’14 was INR 1,48,614 crores versus INR 1,34,712 crores in FY’13. Q4 FY’14 turnover increased to INR 42,428 crores from INR 36,736 crores in Q3 FY’14 and INR 34,650 crores in Q4 FY’13.

3. FY’14 Group EBITDA was INR 16,377 crores compared to INR 12,654 crores in FY’13, implying an improvement of 29%. Q4 FY’14 EBITDA increased significantly to INR 4,917 crores from INR 3,921 crores in Q3 FY’14 and INR4,368 crores in Q4 FY’13.

4. Group Profit after Tax in FY’14 swung to INR 3,595 crores versus the loss of INR 7,058 crores in FY’13. FY’14 results included exceptional charges of INR 28 crores compared to the charges of INR 7,390 crores in FY’13. Profit after tax in Q4 FY’14 doubled to INR 1,036 crores compared to INR 503 crores in Q3 FY’14 and was a significant improvement over the loss of INR 6,529 crores in Q4 FY’13. Q4 FY’14 results were affected by exceptional charges of INR 46 crores while the exceptional charges for Q4 FY’13 were INR 7,413 crores.

5. The Group’s Basic and Diluted Earnings per share for FY’14 increased to INR 35.19 from the loss of INR 74.54 in FY’13. EPS in Q4 FY’14 came in at INR 10.20 compared to INR 4.73 in Q3 FY’14 and the loss of INR 67.69 in Q4 FY’13.

6. Cash and cash equivalents as on March 31st 2014 were INR 11,373 crores and net debt was INR 67,326 crores.

7. The Board of Directors of the Company has recommended a dividend of INR 10 per equity share for the financial year ended March 31st 2014

Mr TV Narendran MD of TATA Steel India and South East Asia said that “It’s been a high performance year at TATA Steel and a more gratifying one as we performed well against challenging market conditions both in India and South East Asia. We have performed better than industry growth figures across product / market segments with substantive increase in sales volumes. Sale of high-end products to automotive segment has been the highest ever despite a de-growth in the auto market in India. Our efforts to develop new markets in the SME segment with an innovative business model has enabled significant increase in sales of branded HR coils.”

He said that “We continue to spread our presence by strengthening our reach & customer connect through the retail route. Our focus remains on increasing value added downstream operations and delivering quality and innovative products/services across all verticals of our business. Our brown-field expansion of 2.9 million tonne per annum in Jamshedpur fully ramped up in the second half, resulting in record high production of crude and saleable steel notwithstanding our scheduled maintenance shutdowns in Q3. The performance of our South East Asian operations continue to remain strong and have delivered positively to the overall bottom line of the company. We look forward to continuing on this growth trajectory and are focused on efficient execution of our expansion projects.”

Dr Karl Ulrich Kohler MD & CEO of TATA Steel in Europe said that “The key to last year was our relentless focus on operational reliability, which restored our asset base and enabled our production to return to more usual levels. Our financial performance improved as a result. At the same time we advanced our high quality portfolio programme, launching 30 new products as promised and increasing sales of new products by more than 75%. By intensifying our innovation efforts, our sales to automotive manufacturers grew against trend a third of these sales were differentiated products which helped customers deliver cost, weight and performance improvements.”

He said that “Europe appears to be entering a phase of solid economic growth, which is supporting a recovery in steel demand. But EU steel use will remain at low levels historically against a background of continuing global overcapacity. Faced with these challenges we will intensify our efforts to achieve sustainable financial performance by continuing to improve the support and services we offer our customers and maintaining our focus on costs and operational efficiency.”

Mr Koushik Chatterjee Group Executive Director of Finance and Corporate at TATA Steel said that “Group profitability showed sustainable improvement over the year on the back of strong performance in key regions. Despite weak market conditions in India, our business achieved higher sales and generated a higher EBITDA margin of 32% for the year. Our European operations also showed a strong recovery over FY’13, with higher volumes and an improvement in EBITDA margins by 257bps over the year.

He said that “We spent around INR 16,400 crores on capex during the year, with a large portion deployed at our greenfield plant in Odisha. Despite this significant spend, we were able to keep the net debt level stable over the last quarter. Liquidity remains adequate with around ?18,000 crores of cash and cash equivalents and undrawn credit lines, in addition to the undrawn KPO financing.”

Source – Strategic Research Institute

voda 15 mei 2014 16:52

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World annual steel excess capacity doubles since 2000

The global annual steel excess capacity, the amount of steel companies could produce minus the actual turnout in a year, kept worsening, dampening the whole industry's profits, revealed a US steel industry backed report issued.

Economic Policy Institute and law firm Stewart & Stewart said that the global steel excess capacity has reached 517 million tonnes in 2013, twice as much as the 229 million tonnes in 2000. The excess capacity reached a peak in 2009 at 579 million tons, as the world financial crisis reduced global steel consumption, but quite a lot of steel capacity was added due to governments' stimulus programs.

The excess capacity has fallen since 2009 but still kept at a historical high level, while persistently huge steel excess capacity has dampened the profitability of the whole industry.

Mr Risaburo Nezu chairman of the steel committee of Economic Cooperation and Development in December said that "High level of excess capacity clouds prospects for the industry's profitability."

Mr Nezu said that "As global steel demand is expected to grow slowly in the coming years and with many new investment projects coming on stream, excess capacity will continue to weigh on the operating profitability of the global steel industry."

Source – Ecns.cn

voda 15 mei 2014 16:53

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MIIT announces new targets for cutting production capacity in steel iin China

The Chinese Ministry of Industry of Information Technology announced new targets for cutting production capacity in a number of highly polluting industries including steel, iron, and aluminum. These plans signal that Beijing is accelerating efforts to create more market efficiency and cut overproduction in the economy.

The new targets call for closing 28.7 million tonnes of steel and 19 million tonnes of iron capacity this year an additional 1.7 million tonnes than the goals set out after just in March after the National People's Congress. The steel target alone is four times higher than that of last year.

We think that the government will move forward with these plans this year, even in the context of slowing economic growth. Moreover, these measures are more likely to be effective now than in the past because of Beijing's strengthening political position to enforce compliance at the local level.

Specifically, sweeping amendments to China's environmental law passed on 24 April will increase incentives for local officials to comply with Beijing by holding them accountable for polluting industries in their jurisdictions and making the environment more important than growth in government promotion metrics.

The revisions also elevate the status of the Ministry of Environmental Protection and its local branches, empowering the agency to shut down polluting factories rather than just investigate them. The release of these overhauls corresponds with slowing domestic demand, further contributing to the leadership's interest in addressing overproduction in the economy.

Provincial and SOE level leading small groups for deepening reform will also strengthen Beijing's ability to enforce reform policies at the local level. In fact, Baosteel and Wuhan Iron and Steel are two of just a small number of SOEs with their own LSGs for deepening reform, a sign that making this sector more efficient is a political priority for Beijing.

SOEs began setting up their own LSGs for reform in February this year as a way to better implement top down guidance. These local LSGs will also have greater autonomy in the plans they issue, with some flexibility to adapt Beijing's policies to specific locale and enterprise needs, further reducing any possible pushback.

The impact of these measures will be higher production costs for producers in polluting industries, pushing underperformers out of the market and placing downward pressure on production growth. Stricter standards for emissions controls, coal quality, and costly inspections will weigh on producers.

Adding to these costs, electricity prices could rise as lower inflation levels in recent months afford the government an opportunity to make further progress on price reform. In December the government raised power costs for aluminum smelters by imposing a tiered power pricing scheme and removing local subsidies for power consumption.

Broadly, Beijing is committed to resource price rationalization but has been hesitant to push for much progress in the context of heightened inflation concerns. As those concerns ease, similar efforts could be expanded over coming months, especially for other sectors specifically identified as plagued with overcapacity.

Financial constraints and higher efficiency standards will also continue to encourage imports of cheaper and higher grade iron ore (See Eurasia Group note CHINA: Industrial reforms will slow growth in steel production but spur demand for imported raw materials). China's 83.39 million tons of imported iron ore in April the second highest figure on record and a 12.75% increase since March are a sign of strengthening demand.

The leadership will also use its industrial policies to support regional rebalancing and consolidation goals. Top domestic steelmakers in the south will be the primary beneficiaries of these policies as the government looks to shut down inefficient capacity in the north while accelerating high end production in major projects underway in Guangdong and Guangxi provinces.

These regions offer high demand, limited supply, and cheaper logistics given proximity to ports along the Yangtze River. There is also less political pressure over the environment since there is lower population density in the area of the planned steel parks.

Broadly, we think the government has the political bandwidth to navigate these shifts. While pressure over unemployment may be increasing somewhat, these risks may actually be somewhat less acute for production closures in heavy manufacturing sectors like steel and iron. This is because workers in steel factories are relatively older, given low turnover, and are closer to retirement.

Source - www.steelhome.cn/en
China steel information centre and industry database

voda 15 mei 2014 16:54

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Iron ore prices remain under pressure despite trouble at Port Hedland

Reuters reported that iron ore futures in China fell for a fifth day in six on Wednesday, pressured by lean buying interest in China amid slow demand for steel.

Iron ore for September delivery on the Dalian Commodity Exchange, the most-traded contract, was down 0.7 percent at CNY 738 (USD 120) a tonne by midday.

The contract touched a seven-week low of CNY 726 on Monday

The most active rebar for October delivery on the Shanghai Futures Exchange dropped 0.4 percent to CNY 3,168 a tonne. Rebar fell to CNY 3,152 on Monday, the second lowest for a most-traded contract since the Shanghai bourse launched them in 2009.

A potential workers' strike at Australia's Port Hedland, which could halt a fourth of global iron ore shipments, has not deterred bearish investors from bidding down prices, arguing a shortage in supply may take weeks to be felt given towering stockpiles at ports in China.

The report added that Australian miner Fortescue Metals Group is offering a bigger discount for its lower grade iron ore cargoes for shipment in June amid weaker demand

Source – Reuters

voda 15 mei 2014 16:55

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Egypt considering raising energy prices for steel factories

Daily News Egypt cited Mr Sherif Ismail petroleum minister of Egypt as saying that the government is currently looking into increasing prices of energy for high intensity consumers, such as steel factories which have not seen price adjustments in recent times.

Fertilizer plants and ceramics, which export their products outside the country at world market prices, receive one million BTU of gas at an average price of USD 3 with the highest price bracket being USD 6 per one million BTU for cement plants, which sell their products above international prices.

Mr Ismail said that “There is no alternative for adjusting the prices of gasoline and diesel fuel in the coming period in light of the worsening situation of energy subsidies in Egypt. The government continues to support the restructuring of energy subsidies, along with the implementation of measures to protect low-income earners and will be coordinating with various industries to prevent a rise in prices of products for consumers.”

In previous remarks Mr Ismail estimated that the cost of energy subsidies during the next fiscal year would be approximately EGP 140bn, compared with EGP 130bn by the end of the current fiscal year in June. The government did not receive any requests to import coal other than from cement plants.

Mr Ibrahim Mehleb the cabinet headed by Prime Minister had approved the use of coal during a meeting of the Energy Committee last month, provided its use benefits Egypt’s energy system and with the commitment to develop regulations and environmental standards, along with approval studies evaluating environmental impact at all phases of its importation, transportation, storage and use. Another condition stipulates the expansion in the use of municipal and agricultural waste in the cement industry until it constitutes up to 40% of its energy used.

Mr Mehleb said that “Nothing was presented to the government pertaining to the issue of the Spanish company Union Fenosa, partner in the Damietta liquification plant, concerning the importation of gas from Israel. We will not allow any foreign company operating in Egypt to import Israeli gas except with the consent of the government.”

Source – Daily News Egypt.com

voda 15 mei 2014 16:56

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Spot iron ore prices slip below USD 100 per tonne

Iron ore prices have slipped below the USD 100 per tonne level in the spot market forcing exporters to rethink on their export strategies. Exporters from Goa are unlikely to rush in to bid for the material at e-auctions, as it would not be profitable for them to export at current prices.

The spot iron ore prices have seen YoY decline of 19% to USD 95 per tonne on FoB basis for 63/63.5% Fe fines. The decline in prices is mainly on account of reduced demand as well as the piling up inventories at the Chinese ports. A year ago, the prices were ruling at USD 117 per tonne. The previous low was seen in September 2012, when the prices touched USD 96 per tonne FoB.

Source – Business Standard

voda 15 mei 2014 16:58

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Vale Oman receives 50 Valemax iron ore carrier at Sohar Port

Vale's operations in Oman has received its 50th Valemax vessel, the world's largest iron ore carrier, at its deep water jetty in the Port of Sohar, recording a total shipment of 25 million tonne of iron ore since commencing its operations in Oman in 2011.

Created to integrate the global logistics strategy of the company to generate customised solutions for its clients in Asia and raise the competitiveness of its products, the Valemax is a new concept category ore carrier with a capacity to transport 400,000 tonne and has alone been responsible for the delivery of 80% of the iron ore shipments to Oman from Brazil.

Mr Sergio Espeschit, CEO of Vale, said in Oman that "There is a popular belief that a large port can sustain a city. Today we can assume that this is happening here in North Al Batinah. At Vale, we are proud to see how only the operations related to our vessels are economically contributing to the region. For every Valemax that calls at the Port, approximately USD 3.3 million is invested in unloading the shipment and preparing the vessel for departure."

He explained that most of these services, including port services, shipping agency and handling services, bunker fuel, engine cylinder oil and consumable store supply replenishment, are contracted to local businesses including small and medium enterprises in an effort to develop the local supply chain and help support and enable secondary and tertiary industries in Oman to enter international markets.

He said that "The Port of Sohar's strategic location outside of the Strait of Hormuz with the advantage of deep-water seas has put Oman on the world map of the steel industry while solidifying its frontier market status and competitiveness in the global economy. Being one of 10 ports around the world equipped to receive Valemax's impressive capacity, the Port has achieved global maritime prominence and allowed us to establish a worldwide production and logistics system that enhances our capability to generate customised solutions for clients."

He added that “Over the last 3 years, Vale in Oman has exported 20 million tonne of iron ore pellets to its network of clients in the Middle East, North Africa and India with efficiency and just in time services while contributing to support the Oman's Economic Vision for 2020."

A fully laden Valemax vessel carries as much iron ore as 11,150 trucks, enough to produce steel for 3 of San Francisco's famed Golden Gate Bridge.

Source – Times of Oman

GVteD 15 mei 2014 23:25

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ArcelorMittal opposes Western sanctions against Russia
news.yahoo.com/arcelormittal-opposes-...

Brogembank 16 mei 2014 14:53

0

seekingalpha.com/news/1756493-arcelor...

AM kan misschien een enorme chroomproducent voor weinig inlijven

GVteD 16 mei 2014 19:56

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Follow the ABCs of Investing With These 3 Stocks

ArcelorMittal
BCE
Canadian Pacific Railway

www.fool.ca/2014/05/16/follow-the-abc...

voda 16 mei 2014 20:27

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'ArcelorMittal wil chroombedrijf Zimbabwe'

VRIJDAG 16 MEI 2014, 19:51 uur | 85 keer gelezen

HARARE (AFN) - Staalconcern ArcelorMittal overweegt een bod te doen op de in financiële problemen verkerende chroomproducent Zimbabwe Alloys Chrome. Dat meldde een ingewijde rond de zaak.
Volgens de bron gaan vertegenwoordigers van ArcelorMittal de komende weken naar de Zimbabwaanse hoofdstad Harare om boekenonderzoek te doen. Zimbabwe Alloys Chrome bezit bijna 40 procent van de chroomreserves van Zimbabwe. Het bedrijf moest in 2012 uitstel van betaling aanvragen onder druk van de lagere prijzen van chroom en overheidsregels die de export van onverwerkt chroom verbieden. Tot 2005 was het bedrijf eigendom van mijnbouwer Anglo American.

Chroom is een belangrijke grondstof voor de productie van roestvrijstaal. Door de chroomreserves van Zimbabwe Alloys Chrome over te nemen, kan ArcelorMittal zijn voorraden veiligstellen.

voda 16 mei 2014 20:59

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Mr Robrecht Himpe of ArcelorMittal addresses European Steel Day as new EUROFER president

Mr Robrecht Himpe, executive vice president at ArcelorMittal Europe, addressed hundreds of delegates at European Steel Day as the new president of EUROFER, the European Steel Association.

He identified three targets for his presidency, to ensure the future of the steel industry in Europe: market demand, trade, and energy and climate.

With steel demand in Europe still 25% below pre-crisis levels – despite positive signs of a moderate recovery in the EU economy – Mr Himpe reminded delegates that rising steel consumption of European steel, together with support from policymakers, is needed to create an internationally competitive environment for the industry: “We are all aware that industry is the backbone of the European economy. Being at the beginning of the supply chain, the steel industry has a special position in the manufacturing industry in Europe, accounting for more than 350,000 direct jobs and 1.5 million indirect jobs through the supply chain.”

As such a major employer in the region, Mr Himpe called on the European Commission (EC) to take the steel industry into account, as a strategic sector for the EU economy:

He said “In many EC announcements, including the Steel Action plan, there has been progress in recognising the need for a European industrial renaissance. It is therefore surprising that in some of its main policies, the EU has not yet started to take into account that the steel industry and European policymaking will achieve more by creating a win-win situation to serve Europe, its manufacturing industries, its people and governments. Now we still see proposals that damage industry, this should be improved urgently.”

Mr Himpe reiterated the need for a proper industrial policy for Europe, to ensure a return to growth for the industry: “The European Commission’s 2030 energy and climate plan alone will not support much-needed economic growth. Having already significantly reduced greenhouse gas emissions in Europe, the EU steel industry is ready to play its part in helping to further reduce CO2 emissions, in line with the Commission’s 2030 energy and climate plan.”

Speaking about his energy and climate priority, he addressed the need for fairness in CO2 reduction targets: “We favour a global climate deal to create a global level playing field, including with China as the new number one economy and CO2 emitter in the world. But as long as there are no comparable efforts made in the other major economies, there should be no extra EU unilateral targets.”

He also welcomed the recent introduction of a pilot emissions trading system (ETS) in China and in other regions.

Linking the industry’s responsibility to further reduce CO2 emissions with the need for economic growth – which will in turn provide the revenue needed to fund the investments required to drive down emissions from steelmaking – he said:

“Looking ahead, realistic targets should now be set for the foundation industries including the steel industry, in common with other emissions trading systems around the world. The EU steel industry can further reduce emissions beyond what it has already achieved, provided significant technological investments are made. This investment requires improving economic conditions that will come with higher steel demand and manufacturing growth, which in turn requires a global level playing field for trade. A realistic energy and climate plan, together with an industrial policy and fairer trade policies, should create a framework that encourages Europe’s economic growth in a number of different ways, not in a ‘one size fits all’ way as the energy and climate plan currently proposes.”

On trade, Mr Himpe said that it is essential to take the necessary steps to ensure that steel imports enter the EU market on a fair basis: “We fully support a fair level playing field, which allows local producers to compete under the same conditions in domestic and international markets.”

EUROFERwas founded in 1976 and has 59 direct member companies and national associations, representing 528 production facilities in 24 EU member states. voestalpine CEO Wolfgang Eder was the previous EUROFER president, serving for four years.

Source – Strategic Research Institute

voda 16 mei 2014 21:00

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TATA Steel update on European operations

The revamped Blast Furnace in UK together with improved reliability in Europe as a whole led to an increase in volumes compared to the previous year. Financial performance consequently improved, despite average market conditions being worse than in the previous year. Sales volumes also grew, as did the quality profile. The volume of new products sold rose by more than 75% in FY’14 compared to the previous year and the company launched 30 new products, as promised.

Progress on improving the product and service portfolio, including success in Early Vendor Involvement initiatives led to the company improving its standing with its customer base which was expressed through numerous customer recognition awards, such as Toyota awarding TATA Steel its Certificate of Recognition for the company's contribution in the area of quality tonne in FY’13. Q4 FY’14 production of 4.04 million tonne was 3% higher than the 3.91 million tonne produced in Q3 FY’14 and 26% higher than the 3.22 million tonne produced in Q4 FY’13.

1. Deliveries increased to 13.86 million tonnes in FY’14, up 6% from the 13.07 million tonnes in FY’13. Q4 FY’14 deliveries of 4.07 million tonnes were 27% higher than the 3.19 million tonne in Q3 FY’14 and 19% higher than the 3.42 million tonne in Q4 FY’13

2. Turnover in FY’14 was INR 84,666 crore versus INR 78,012 crore in the previous year. Q4 FY’14 turnover was INR 24,376 crores compared to INR 20,709 crore in Q3 FY’14 and INR 19,166 crores in Q4 FY’13.

3. FY’14 EBITDA almost quadrupled to INR 3,008 crore from INR 764 crores in FY’13. Q4 FY’14 EBITDA of INR 817 crores was down from INR 860 crore in Q3 FY’14, but up from INR 613 crore in Q4 FY’13.

4. FY’14 EBIT was a loss of INR 158 crore, an improvement on the INR 2,425 crore loss in the previous year. Q4 FY’14 EBIT was a loss of INR 16 crore compared to the loss of INR 2 crore in Q3 FY’14 but an improvement on the loss of INR 213 crore in Q4 FY’13.

Source – Strategic Research Institute

voda 16 mei 2014 21:06

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Accusations about State government oversight at Severstal steel

The Free Press’ recent accusations about state government oversight at Severstal steel in Dearborn are outrageous.

The continued mischaracterizations of the permitting process obscures the fact that the Michigan Department of Environmental Quality has worked tirelessly on an air quality permit for one of the state’s largest industrial complexes, and with a clear goal to craft a permit that protects public health and the environment.

The controversy surrounding this 100 page permit involves a blast furnace project installed in 2007 to increase the steelmaker’s production by 7,000 tonnes of iron per day. Federal law requires every operator to obtain a permit before installing equipment, so operators develop a reasonable estimate of their emissions. Sometimes, the permit must be adjusted once the equipment is installed, operating and tested.

The Severstal project was tested in 2008. While the emissions were above the estimates written into the permit, they were below the thresholds established in the federal Clean Air Act. It was clear that the company would need its limits raised to match their outputs. So began the long process of perfecting the permit.

What is important is crafting a permit that accurately reflects the operation, because particularly in areas with heavy industrialization the total cumulative impact of all sources is measured to ensure that overall air quality is maintained within federal limits.

The Free Press reporting implies this is somehow inappropriate, but this is how every air quality permit for every major operator is crafted, from Detroit to Pittsburgh to Chicago. Exceeding one’s permitted levels is not the same as exceeding federal air protection levels.

The Free Press assertion that emissions will increase 725 times the present levels for one substance, lead, is flatly wrong. The permit increase is actually 74 times which, for the particular lead source referenced in the reporting and editorial, is 2.4 ounces per day. The total lead emissions for the plant under the new permit are a third of the federal threshold. A Free Press editorial on the issue didn’t make clear that the permit request reflects what is actually emitted. Severstal’s actual emissions have remained mostly unchanged since 2008.

The department’s goal is the same here as it is for any permit-holder: compliance. And the agency has never let up on that goal, either. The permitting process involves neighbors, community groups, environmental groups, business groups, legislators and anyone who seeks to be involved. Our job is to protect public health and the environment, and broad input supports that goal. But partners and stakeholders inform the process, they don’t lead it.

Some have said that we should resolve the enforcement issues before approving the permit. The two are separate issues. The enforcement is for violations yesterday. The permit covers the operation for tomorrow and beyond. We should make the operator meet the limits set in 2006. Whenever a permit is adjusted, the DEQ makes permit-holders explain why they can’t meet original limits. Severstal did this. By law, as long as the actual emissions from an operation remain under federal limits, the government’s job is to craft a permit that captures the actual levels and hold the operator accountable for that permit.

Source – Freep.com

voda 16 mei 2014 21:07

0

Japan crude steel output projected at 27.7 million tonnes in Apr-Jun

According to the Ministry of Economy, Trade & Industry, Japan's steel companies plan to produce a total of 27,700,000 tonnes of crude steel in April to June 2014 or in the Q1 of fiscal 2014 (April 2014 to March 2015), up 0.5% from an expected 27,570,000 tonnes of total production in the quarter before. The announcement is based on METI's hearings from the nation's various steel companies.

The planned production volume of crude steel is higher by 2.6% than METI's demand estimate of 27,010,000 tonnes for April to June 2014. Also, the planned production volume indicates a decrease of 1.3% as compared with the definite production volume of 28,070,000 tonnes in April to June 2013. The following are the steel companies' production plans for the Q1 of fiscal 2014.

1. Ordinary steel products
Total production is projected at 19,140,000 tonnes up 0.2% from an expected 19,100,000 tonnes of total production in the quarter before and up 2.0% from a definite 18,760,000 tonnes of total production in the Q1 of fiscal 2013. Of the projected total, the first 12,550,000 tonnes of products are intended for domestic shipments, down 0.5% from an expected 12,610,000 tonnes of total production in the quarter before and up 5.6% from a definite 11,880,000 tonnes of total production in the Q1 of fiscal 2013. The remaining 6,590,000 tonnes of products are meant for export sales, up 1.2% from an expected 6,520,000 tonnes of total production in the quarter before and down 4.3% from a definite 6,890,000 tonnes of total production in the Q1 of fiscal 2013.

2. H-beams, small bars;
Total production is projected at 1,060,000 tonnes for H-beams, down 1.4% from an expected 1,080,000 tonnes of total production in the quarter before and up 1.7% from a definite 1,040,000 tonnes of total production in the Q1 of fiscal 2013. Total production is projected at 2,380,000 tonnes for small bars, up 5.8% from an expected 2,250,000 tonnes of total production in the quarter before and down 2.7% from a definite 2,450,000 tonnes of total production in the Q1 of fiscal 2013.

3. Special steel products
Total production is projected at 5,090,000 tonnes down 1.8% from an expected 5,190,000 tonnes of total production in the quarter before and up 0.8% from a definite 5,050,000 tonnes of total production in the Q1 of fiscal 2013. Of the projected total, the first 3,290,000 tonnes of products are intended for domestic shipments, down 2.3% from an expected 3,370,000 tonnes of total production in the quarter before and up 0.1% from a definite 3,290,000 tonnes of total production in the Q1 of fiscal 2013. The remaining 1,800,000 tonnes of products are meant for export sales, down 0.9% from an expected 1,810,000 tonnes of total production in the quarter before and up 2.1% from a definite 1,760,000 tonnes of total production in the Q1 of fiscal 2013.

Source - The TEX Report

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Volume gisteren	8.534.283

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