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35.173 Posts, Pagina: « 1 2 3 4 5 6 ... 289 290 291 292 293 294 295 296 297 298 299 ... 1755 1756 1757 1758 1759 » | Laatste
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Shipbuilder Hyundai Samho Heavy to sell POSCO shares – Report

Reuters reported that South Korean shipbuilder Hyundai Samho Heavy Industries Co Ltd is selling some 1.3 million shares in steelmaker POSCO for around $191 million-197 million in a block sale launched on Tuesday

The shares are for sale at a discount of 2 per cent-4.9 per cent to Tuesday's closing Posco price of 181,000 won, according to the term sheet.

The shares being offered by Hyundai Samho, a unit of Hyundai Heavy Industries Co Ltd amount to 1.5 per cent of Posco shares outstanding.

Source : Reuters
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GMS update on shipbreaking in Bangladesh in Week 38 - CARTEL

The significant news last week concerned the collapse of the Bangladeshi cartel, which had been in operation for almost two months. They had managed to secure a handful of vessels for local buyers from desperate cash buyers / owners but that was (expectedly) insufficient to maintain the cartel’s presence, especially in the long run.

Cash buyers will have to be extremely mindful of managing expectations and ensuring open end users have LC limits in place, as the few available larger LDT units are expected to see some decent rates in the weeks ahead as Chittagong gets back into the buying.

Very few vessels have been concluded to Bangladeshi buyers after the binge on (mostly capesize) units during the first two quarters of the year and end users may still be keen to conclude vessels at these lower overall levels, in order to even out some of the high-priced purchases currently occupying their plots.

Source : GMS Weekly
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150 SSI workers given redundancy consultation documents

ITV reported that 150 workers who operate the coke ovens at the SSI steelworks in Redcar have been handed consultation documents for redundancy.

They are the only SSI staff to have received redundancy notices so far, although the fate of 1,800 other workers has still not been clarified since the company suspended production at the end of last week.

Source : ITV
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Nisshin Steel installing furnace at Kure works to produce specialty steel

Nikkei reported that Nisshin Steel will begin churning out specialty steel for European carmakers, expanding into a new, high value added product line that may bolster earnings.

The Japanese steelmaker is spending about 6 billion yen ($50 million) to install a dedicated refining furnace at is Kure works in Hiroshima Prefecture. This furnace further removes impurities from the molten metal to produce high-grade steel.

The company will produce 50,000 tons to 60,000 tons of "high-cleanliness" steel sheet a year for parts that demand high strength and durability, such as bearings.

Nisshin Steel will fire up the refining furnace as soon as next month. It will need to demonstrate to prospective European customers that its steel meets cleanliness standards, which, in Germany's case, are stricter than in Japan.

Nisshin Steel aims to broaden its customer base, which consists mostly of Japanese autoparts makers. Specialty steel sells in smaller quantities than typical steel but brings higher profits.

Source : Nikkei
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Community Union appeal to save jobs at SSI steel plant

Express & Star reported that unions have issued a last-ditch plea to save hundreds of threatened jobs at a steel plant, warning that the livelihoods of thousands of families are at stake.

Mr Roy Rickhuss, general secretary of the Community union, told a press conference close to the site "The wall of silence from SSI is causing deep distress amongst our members and their families and the entire community that depends on Teesside steel. The unions stand ready to assist the company in helping to build a sustainable and profitable future. However, SSI must clarify their intentions and make it clear what Government intervention is needed.”

He sai “In turn, the Government must fulfil the promise made by David Cameron last week that he would do everything he could to keep steelmaking on Teesside. His Government has talked about the importance of this strategic industry, but warm words have made little difference. Steelworkers on Teesside and the whole of British industry need immediate action."

Mr Rickhuss urged ministers to take action to protect SSI's industrial assets, adding Now is not the time for ministers to heed the siren calls of Government officials advising caution. The Government must be bold in its intervention and demonstrate it has the political will to give Teesside steel a future. The livelihoods of thousands of families and an entire community depend on the actions taken by both SSI and the Government in the coming hours and days. If the silence and inaction doesn't end soon then it may prove too late to save our steel."

Source : Express & Star
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Had Arcelor ook maar "benaderd"! :-)

Baker Hughes sued by Triuva for wrong steel in valves in German storage field

Bloomberg reported that according to a lawsuit Baker Hughes Inc used the wrong kind of steel in safety valves installed in a USD 2.5 billion German underground gas storage field, where ruptures last year rendered some caverns inoperable and threaten to make the entire facility worthless.

According to a complaint filed Monday in Houston federal court, Truva Kapitalverwaltungsgesellschaft mbH, which owns 47 natural-gas storage caverns in a massive salt-dome under Etzel, Germany, that warehouses 15 percent of the country’s gas supply, claims Baker Hughes supplied defective safety valves that “can crack wide open” if welded into place in a corrosive environment

Triuva said in the complaint, the defective equipment represents “a grave risk of harm with potentially catastrophic consequences,” because a rupture might result in the release of natural gas into the atmosphere and a potentially large fire.

Triuva said “The parts were allegedly made from a type of steel normally used in short-term deep water jobs, where systems are threaded and bolted together. The material is unsuitable for permanent underground systems, as it is difficult to weld properly and welding causes microscopic changes that leave the pipes prone to corrosion cracks.”

Triuva said “Baker Hughes’s safety valves were installed in 2009 and 2010 in 30 of Triuva’s caverns. Two of the valves ruptured in February and November of last year, allegedly along defective welds. Those caverns are now unusable and the safety of the remaining gas storage chambers has been put into question, unless the faulty parts can be switched out for ones made from the right steel”

If German mining regulators yank Triuva’s licenses because they decide the caverns can’t be safely operated, the company says its entire $2.5 billion Etzel investment might become “effectively worthless,” the company said.

Source : Bloomberg
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Iron ore steady on Tuesday amid stocks slump at Chinese ports

Published on Wed, 23 Sep 2015 105 times viewed

Business Spectator reported that iron ore has extended its run of sessions without a drop to four on Tuesday despite steep falls on global markets overnight. At the end of the latest session, benchmark iron ore for immediate delivery to the port of Tianjin in China was trading at USD 57.10 a tonne, in line with its prior close.

It is the second straight day the commodity has held steady having risen in the prior two sessions amid speculation Chinese buyers were replenishing low stockpiles.

Meanwhile, the steady iron ore session suggests no reaction to ANZ's decision to trim its price forecasts to USD 52 a tonne in 2016 and USD 54 in 2017, reductions of 5 and 10 per cent from prior projections.

Source : Business Spectator
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ArcelorMittal is here to stay in Liberia – CEO

Liberian Observer reported that in spite of the slump in iron ore prices on the world market, Mr. Michel Prive, chief executive officer of ArcelorMittal Liberia has assured the nation that the company is here to stay.

Mr Prive made the remark at the company's club house in Buchanan, Grand Bassa County last Saturday during the certification of the second batch of five Liberians who have qualified as locomotive drivers. Mr Prive said the company is more determined to ensure that Liberians are trained to fill positions to assist in government's Liberianization drive.

Source : Liberian Observer
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We need more Iron (ore) ! :-)

Roy Hill on target to ship 55 MPTA iron ore in 15 months – Mr Fitzgerald

The West Australian reported that Ms Gina Rinehart’s $10 billion Roy Hill project has accumulated more than 19 million tonnes of high-grade iron ore in stockpiles as it gets ready for first shipments.

CEO Mr Barry Fitzgerald reiterated that Roy Hill should be exporting first cargoes from Port Hedland some time next month, in line with the adjusted timetable of a one-month delay to the original target.

Bloomberg quoted Mr Fitzgerald as saying on the sidelines of the China International Steel & Raw Materials conference in Qingdao “We’re on target to increase mining capacity to 55 million tonnes a year in 15 months.”

The much anticipated start-up of Roy Hill comes at a tough time for the iron ore industry, which has seen the price of the steel-making commodity fall from above USD 150 a tonne 2 1/2 years ago to below USD 60/t.

Source : The West Australian
ttroo
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Dit noemen ze in Nederland: water naar zee dragen. De stretch target zal waarschijnlijk wat hoger liggen, 57.5 a 60 million tonnes.
tilt
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Koersdoel naar 8,80 euro.

HSBC heeft het koersdoel voor ArcelorMittal verlaagd van 10,90 naar 8,80 euro met een ongewijzigde koopaanbeveling. Dit bleek woensdag uit een sectorrapport van de Britse bank.



Volgens HSBC gaat de markt voor de staalsector uit van een te somber scenario, waardoor ArcelorMittal dinsdag op de laagste koers in de geschiedenis noteerde. Voor de staalreus heeft de markt volgens de analisten inmiddels een bedrijfsresultaat (EBITDA) van 5,0 miljard dollar voor 2015 ingeprijsd, terwijl de ArcelorMittal zelf nog altijd rekent op 6 miljard tot 7 miljard dollar.



HSBC meent dat een terugval naar 5 miljard dollar tot de mogelijkheden behoort, maar betoogt dat dit eenmalig zal zijn, toevoegend dat ArcelorMittal pas in de problemen komt met de bankconvenanten als het bedrijfsresultaat terugvalt naar 3,7 miljard dollar. Vooralsnog mikt HSBC voor 2015 op een bedrijfsresultaat van 5,6 miljard dollar voor ArcelorMittal. De winst staat volgens de analisten onder druk door een minder sterk prijsherstel in Amerika en hevige tegenwind in Brazilië.



Op een groen Damrak koerste ArcelorMittal woensdag een half procent hoger op 5,49 euro.



Door: ABM Financial News.
Info@abmfn.nl
Redactie: +31(0)20-262 29 78

Yabbedabbedoe
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Deze presentatie werd vorige week vrijdag bij Renault gegeven. bekijk het maar eens en laat eens weten wat jullie reactie is. Ik houd de mijne nog even voor me :)

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

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Vallourec delivers premium tubes for Stampede project in Gulf of Mexico

Vallourec, world leader in premium tubular solutions, delivers 14,000 tons of premium tubes in the scope of a contract with Hess Corporation for the Stampede project in the US Gulf of Mexico. Stampede is a deepwater subsea development which is located in the Green Canyon Block area, approximately 115 miles south of Fourchon, Louisiana.
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Source : Strategic Research Institute
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Latin American steel imports represent 35% of regional consumption

Alacero (Latin American Steel Association) announced that figures corresponding to the first seven months of 2015 show a 3% drop in steel consumption in Latin America. Meanwhile, crude steel production fell 1% while finished steel output decreased 3% versus Jan/Jul 2014. Finished steel imports supplied 35% of the regional consumption and continue to increase their share at the local markets. The trade balance of the region continues to deteriorate during the first seven months of 2015 deficit (in tons) deepened 1% vs same period of 2014.

Source : Strategic Research Institute
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ADB cuts growth forecasts for China and India

Manila based Asian Development Bank has cut its growth forecast for the region's biggest economies, citing a softer outlook for China and India and a delayed recovery in the world's advanced nations. ADB said in a report on Tuesday that it now predicts the region's economies will expand 5.8% this year and 6% next year, down from the 6.3% it forecast in March for both years

The report, which covers 45 countries, cut forecasts for some of the region’s biggest economies including China, India, South Korea and Indonesia.

The Chinese economy, which grew a revised 7.3% last year, is now tipped to slow to 6.8% growth in 2015 and 6.7% in 2016. The bank previously forecast 7.2% and 7%.

India is forecast to grow 7.4% in 2015 and 7.8% in 2016. The bank trimmed both forecasts by 0.4 percentage points, citing slower progress on major reforms, which has hindered investment, and sagging exports.

ADB’s chief economist Shang-jin Wei said: “Developing Asia is expected to continue to be the largest contributing region to global growth despite the moderation, but there are a number of headwinds in play.”

Source : Strategic Research Institute
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Jiangxin Steel passes environmental assessment

The completed 2.80 million mt capacity steel production project of Shandong Province-based Chinese steelmaker Linyi Jiangxin Steel Co Ltd (Jiangxin Steel), a subsidiary of Shandong Province-based Huasheng Jiangquan Group, has successfully passed an environmental assessment and received approval from the Shandong Provincial Ministry of Environmental Protection.

The project in question is located in the special steel recycling industrial park in the Luozhuang district of Linyi city in Shandong Province, having been built with an investment totaling RMB 4.299 billion ($0.67 billion), of which RMB 485 million ($76.14 million) was invested in environmental protection.

Source : SteelOrbis
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Wie verkoopt er nu zijn aandelen als het op het laagste punt staat in de historie?

AM is prooi van shorters en hoop dat zij snel de deksel op hun neus krijgen. Ik roep iedereen die aandelen AM heeft dan ook op om langlopende orders in te leggen, zodat banken deze aandelen niet kunnen "uitlenen" aan shorters.
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Overigens, waarom komt AM niet eens met een persbericht naar buiten dat ze geen schokkende zaken verwachten bij de cijfers? Als de winst zou tegenvallen, hadden ze allang een persbericht de wereld ingestuurd?

Een winstwaarschuwing zou helemaal killing zijn voor het aandeel. Ik hoop dat AM nu weer eens de weg omhoog vind. China verwacht een groei van 6.5%-7% ipv 7.5% en de hele beurs zakt bijna 30% en AM bijna 50%. Wordt er lichtelijk niet goed van.
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Malaysia starts anti dumping probe on CR imports from Vietnam

VietNamNet Bridge reported that the Malaysian Ministry of International Trade and Industry has started an anti dumping investigation on Vietnamese exports of alloy and non-alloy cold-rolled steel coils with the thickness of 0.2-2.6 mm and width of 700-1,300 mm.

Deputy director of the Competition Administration Department (CAD) Nguyen Phuong Nam, confirming the news, said MITI would send questionnaires to Vietnamese steel manufacturers, while domestic manufacturers could ask MITI for questionnaires.

According to the Ministry of Industry and Trade, Malaysia imported around 151,000 tons of steel worth $110 million from Vietnam in 2014.

Source : VietNamNet Bridge
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Vertraagd 26 apr 2024 17:37
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