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Arcelor Mittal « Terug naar discussie overzicht

Nieuws en info hier plaatsen (deel 4)

35.173 Posts, Pagina: « 1 2 3 4 5 6 ... 1030 1031 1032 1033 1034 1035 1036 1037 1038 1039 1040 ... 1755 1756 1757 1758 1759 » | Laatste

Omlaag ↓

voda 30 juli 2019 16:18

IBC Amended in Response to Essar Steel Case

PTI reported that the Upper House of India’s Parliament has approved an amendment to the 3 year old Insolvency and Bankruptcy Code, providing clarity about preference to secured lenders over operational creditors and giving lenders explicit authority over distribution of proceeds of auction of loan defaulting companies. Replying to a debate on the Insolvency and Bankruptcy Code (Amendment) Bill 2019, Finance Minister Ms Nirmala Sitharaman said the changes being brought in now are in response to events that eroded legislative intent of the IBC. She referred to the Essar Steel insolvency case where the lenders and operational creditors have been treated at par by the bankruptcy court for distribution of auction proceeds.

The amendments give committee of creditors of a loan defaulting company explicit authority over the distribution of proceeds in the resolution process and fixes a firm timeline of 330 days for resolving cases referred to the IBC.

The National Company Law Appellate Tribunal had recently ruled in the Essar Steel Ltd's case that the Committee of Creditors had no role in distribution of claims and brought lenders (financial creditors) and vendors (operational creditors) on a par.

On questions on any bidders not carrying out the resolution plan, she said criminal prosecution is possible in such cases. The government will not make any further claim after resolution plan is approved, she said in response of the successful bidder having indemnity. Also, there will be no criminal cases against successful bidder for fraud by previous promoters.

Source : PTI

voda 30 juli 2019 16:18

Indian Steel Prices have touched the Bottom - Mr Seshagiri Rao of JSW Steel

Mr Seshagiri Rao, Joint MD of JSW Steel, in an interview with ETNOW said that “The fall in prices in steel is in line with what is happening globally. In the first half of the calendar year in the US: the steel prices fell by 30%. Similarly in China, Europe, it fell by 5% to 10%. So the fall in Indian prices are exactly in line with what is happening globally. The realizations were lower by 8% year on year and quarter on quarter more or less. We could maintain the same net sales realisation because of the change in product mix.”

While answering to “Would Indian steel prices stay low for some time?” He said “Indian steel prices have already seen the bottom. That is what is happening globally because iron ore prices went up this year. Globally in the first half of the year, steel prices went up by 70% and for the quarter it went up by 38%, at a time when steel prices were falling. I do not expect the situation to continue. That is why we are seeing a lot of supply side adjustments. Some European companies announced production cuts. The same thing happened in the USA and even in China we have seen some production cuts. Once supply side adjustment starts happening, even though demand is slightly weak, we expect steel prices not to fall further.”

Source : ET

voda 30 juli 2019 16:19

10% Steel Output Growth in China in H1 Driven by Market Demand - CISA

Global Times reported that according to data from the China Iron and Steel Association, China's steel output maintained stable growth in the first half, driven by rising market demand. CISA Executive Vice Chairman Mr He Wenbo told an industry forum “Steel output was not decided by producers but by market demand. With continuous investment in basic construction in China, demand for steel kept rising and domestic producers met the demand as part of the national economy's development.”

He noted that despite pressure persisting in supply and demand in the domestic sector, prospects are sound thanks to the government's efforts to ensure market stability and promote the systemic improvement of production capacity.

According to data from the China Iron and Steel Association, crude steel output in H1 of 2019 increased by 9.9% YoY to 492 million tonnes while rolled steel output stood at 587 million tonnes, up by 11.4% YoY.

Source : Global Times

voda 30 juli 2019 16:21

Privatization of SAIL SSP Will Lead to Monopoly in Stainless Steel - Mr Alagiri

The Hindu reported that Tamil Nadu Congress Committee president Mr KS Alagiri has alleged that privatization of Steel Authority of India Limited’s Salem Steel Plant would lead to monopoly in stainless steel market in the country. Mr Alagiri said “In India, at present, 60% stainless steel market is owned by private players and the remaining 40% is catered by Salem Steel Plant. Privatization of SSP would lead to monopoly in stainless steel market and it would lead to an increase in price of stainless steel products.”

He added that SSP is the reason why stainless steel products are available for reasonable prices and privatization of the plant would lead to increase in prices.

Mr. Alagiri said that they aren’t against development of private companies but they are against handing over public sector undertakings to private players. He said “We are not against privatisation or development of private industries. But PSUs shouldn’t be handed over to private players. They should be run by government.”

Source : The Hindu

voda 30 juli 2019 16:22

Qingshan’s Chromeni Steel Produces First Stainless Steel Cold Rolled Coil

SMM Network News reported that on July 26, China Metallurgical Group South China Metallurgical Group & China first Metallurgical Group responsible for the implementation of the Qingshan Group India Chromeni’s stainless steel cold rolling phase I project of 18 roll 5 stand rolling mill & annealing pickling unit, completed the construction of the stainless steel plant in just 15 months and successfully produced the first roll of cold rolled steel

The project is located in Gujarat, India, the first phase of the construction of 600,000 tonnes of stainless steel cold rolling plant; the second phase of the construction of 3 million tonnes of stainless steel hot rolling and smelting plant; the third phase of the construction of 1.4 million tonnes of stainless steel cold rolling plant.

The project is mainly responsible for the construction of the first phase of the cold rolling project of Qingshan Indian stainless steel project, including laser welding machine, 18-high 5-stand continuous rolling mill, annealing furnace, pickling equipment, leveling machine, drawing and straightening machine, etc. The project is mainly responsible for the construction of the first phase cold rolling project of Qingshan Indian stainless steel project.

Source : Strategic Research Institute

voda 30 juli 2019 16:23

Severstal Increases Sales of New Products in H1 of 2019

Severstal sold 192 thousand tons of new products in the framework of the Food Innovations project in the first half of 2019, which is almost five times higher than last year. Mr Alexander Shevelev GD of Severstal said “In today's rapidly changing world, customer demands for our products are evolving rapidly. Within the framework of the basic strategic priority Excellent customer experience, we have created the infrastructure to respond to them promptly. A survey of our consumers over the past year shows that Severstal has a serious lead over its competitors in developing new products and services. In terms of the innovative products and services indicator, 78.2% of respondents rated our company positively. We will continue to improve our work in this area and achieve even more impressive results.”

The use of agile methodology and new forms of work in the scrum-teams make it possible to radically reduce the time for the development of CWP. Additional acceleration is given by the unique laboratory complex of prototyping of NVP, working in the company. So, the number of products in the active stage of development has reached 67, which is 2.5 times more than the same period last year.

For example, TEMPO produced the first batch of a linear pipe from an innovative corrosion-resistant steel grade Severkor. Experimental field tests of a new type of product are continuing at the fields of the largest oil producing companies. Gazpromneft was the first to test Severkor’s samples and, having made sure that the metal conformed to the corrosion resistance characteristics, made a decision to allow the new steel to be admitted to the field development ahead of schedule, before the full test cycle was completed.

In the workshop of metal coating No 3 of the Cherepovets Steel Mill, galvanized steel was produced with a thickness of 2.5 mm and 3 mm with a coating class up to Z600. This is a new product that will expand the company's product line for customers from the construction industry. It is intended for the production of light steel thin-walled structures, tanks and road construction.

The development of DP-600 two-phase ferritic-martensitic hot-rolled pickled steel of increased strength continues, test supplies are carried out for customers in Europe, Uzbekistan and Russia. DP-600 is distinguished by a combination of high strength and ductility, as well as high speed strain hardening and low yield strength, which allows it to be effectively used for the manufacture of car parts using cold forming.

Source : Strategic Research Institute

voda 30 juli 2019 16:24

Indian Steelmakers Sound Alarm over Rising Level of Duty Free Imports

Business Line reported that Indian steel companies have raised concerns over rising steel imports at 0% duty from countries such as Japan and South Korea that have signed a free trade agreement. Amid growing import worries, the steel industry has urged the government to keep steel out of the proposed 16-member Regional Comprehensive Economic Partnership negotiations, which is to begin later this week. Mr Seshagiri Rao, Joint Managing Director, JSW Steel, said trade bodies have asked the government to keep steel under negative list in the RCEP negotiations, as it will open duty-free access for three more countries, including China. He said that Indian steel industry’s competition with China will not be a level-playing field, as they provide lot of implied subsidies to boost exports.

Steel imports in the April-June quarter were down 9% at 1.72 million tonnes, while exports declined 27% to 1.02 million tonne. Though, overall, steel imports to India have fallen due to weak demand, the proportion of duty-free imports has increased to 66% from 60% in the June quarter.

In the financial year ended March 2019, imports were up 5% at 7.84 million tonne, while exports plunged 34% to 6.36 million tonne.

Source : Business Line

voda 30 juli 2019 16:24

Indian Railways Expecting Supply of 15 Lakh Tonnes Rail in 2019-20 - Mr Piyush Goyal

Times Of India reported that Indian Railways is expecting a supply of approximately 14.5 to 15 lakh tonnes rail in 2019-20, railway minister Piyush Goyal informed Parliament on Friday. Mr Goyal said a request has been made to Steel Authority of India Limited to further increase its production. Replying to a question in Rajya Sabha, Mr Goyal said in addition to SAIL, other private domestic manufacturers have also been considered for rail supply since 2018-19.

He added that for renewal of rails in tracks and construction projects, 5.84 lakh tonnes, 6.46, 6.20, 8.74 and 10.50 lakh tonnes rail were supplied in 2014-15, 2015-16, 2016-17, 2017-18 and 2018-19 respectively.

Source : Times Of India

voda 30 juli 2019 16:25

TATA Sponge Iron Reports Loss of INR 85.99 Crores in Q1

Tata Sponge Iron Ltd has reported financial results for the period ended June 30, 2019. The company has reported total income of INR 745.78 crores during the period ended June 30, 2019 as compared to INR 269.05 crores during the period ended March 31, 2019. The company has posted net loss of INR 85.99 crores for the period ended June 30, 2019 as against net profit of INR 24.39 crores for the period ended March 31, 2019.

The company has reported total income of INR 745.78 crores during the period ended June 30, 2019 as compared to INR 272.84 crores during the period ended June 30, 2018. The company has posted net loss of INR 85.99 crores for the period ended June 30, 2019 as against net profit of INR 45.56 crores for the period ended June 30, 2018.

Source : Strategic Research Institute

voda 30 juli 2019 16:26

Acerinox Announces Q2 Result

Acerinox obtained EUR 37 million in profits in the second quarter of 2019, a 13% more than those obtained during the first three months of the year and a 54% less than those of the same period of last year. Profits in the first half raised up to EUR 69 million euros, a 50% lower than those of last year.

The company’s EBITDA in this second quarter totalled EUR 97 million, a 7% more than the previous quarter and a 36% less than the one of the same period of 2018. The amount of EBITDA of the first half of the year totalled EUR 186 million, a 12% lower than that of the previous half and a 30% lower than that of the same period of last year.

During the second quarter, the Group’s melt shops produced 570,119 tons, a 9% less than those manufactured in the first quarter. The weight of production in the first half raised up to 1,189,039 tons, being an 8% lower than the first half of 2018 and a 6% lower than the previous half.

Acerinox obtained these results in a context of trade tensions, generalized protectionist measures and the slowdown of global economy.

Acerinox launched the implementation of the Planning 360º project within the framework of the Excellence 360º Plan. The project is a planning model that covers the whole value chain. It aims to enhance customer service, increasing the accuracy of deliveries while optimizing the mix of raw material purchases and increasing the reliability of the production processes.

The Excellence 360º Plan seeks to promote and optimise the Acerinox Group’s business upon the basis of four pillars to increase the efficiency of its processes: production, supply chain, commercial management, and purchases of raw materials.

Conversations for the reduction of Acerinox Europa’s workforce
In parallel to the negotiation of the third Collective Agreement of Acerinox Europa, S.A (factory of Campo de Gibraltar) the legal and trade union representatives of workers have been informed of the opening of a negotiation period which could entail the reduction of the workforce in up to 300 workers. The conversations with representatives are currently on-going.

Outlook
Market conditions in different regions are very competitive: in Europe, impor t pressure and macroeconomic uncertainties continue and visibility is reduced; on the other hand, in the Asian market the excess of supply persists and we estimate prices to remain low. On the positive side, we expect the strength of the American market, the main market of the Acerinox Group, to be maintained.

Raw material prices remain very volatile, which is a comp lication added to manage the business.

Despite these difficult market conditions and the seasonal slowdown in Europe, we expect EBITDA in the third quarter to be similar to that in the second quarter.

Source : Strategic Research Institute

voda 30 juli 2019 16:27

Vietnam Steel Producer Posts 7% Lower Q2 Profit

Vietnam News reported that steel producer Hoa Phat has reported that its post-tax profit dropped 7% YoY to VND 2.05 trillion (USD 88.15 million) in the second quarter of the year. Second quarter revenue was 6% higher year on year at VND 15.3 trillion (USD 659.5 million). In the first six months of the year, Hoa Phat recorded VND 30.4 trillion (USD 1.3 billion) in combined revenue and VND3.86 trillion (USD 166.4 million) in post-tax profit. Compared to the first half of 2018, the six-month figures were up 10 per cent in revenue but down 12.7% in post-tax profit.

According to the company’s chairman Mr Tran Dình Long, the performance in the first six months of the year was “acceptable” because the firm and the whole steel sector faced a sharp increase in the price of iron ore, the major input for steel production.

In January to June period, the price of iron ore gained 82% to almost USD 120 per tonne. With the key material accounting for a third of Hoa Phat’s total production cost, the soaring prices seriously affected the firm’s profits.

Source : Vietnam News

voda 30 juli 2019 16:27

Iran Steel ingot output in Q1 up By 3.7%

IRNA reported that production of steel ingot in Iran during spring, which corresponds to the first quarter of Iranian calendar year, stood at 5.2 million tonnes, rising 3.7% from the same quarter in the past year.

As previously announced by the Iranian Steel Producers Association, Iran exported 4.899 million tonnes of steel ingot during the past Iranian calendar year (ended on March 20, 2019).

As reported, billets and blooms accounted for 67% of the steel ingot exports in the past year.

Over 40% of crude steel produced in Iran is exported to different markets worldwide, according to Khodadad Gharibpour, the head of Iranian Mines and Mining Industries Development and Renovation Organization.

A report by the World Steel Organization has indicated that Iran became the world’s tenth largest steel producer in 2018.

Iran which stood at the 13th place in 2017 could lag behind three major steel producers in the world, namely Italy, Taiwan, and Ukraine to stand at the 10th place in 2018, despite the re-imposition of sanctions by the US.

According to the WSO’s report, Iran produced 25 million tonnes of crude steel in 2018 which indicates 17.7% growth from 21.2 million tonnes in 2017.

Source : Tehran Times

voda 30 juli 2019 16:28

New BF Commissioned at Ningshan Iron

News Metal reported that under the command of Zhang Liming, secretary of the party committee and chairman of Hangzhou Iron and Steel Group, the flames roared up in the new No 1 blast furnace, and there was a flood of applause at the scene. After more than 600 days of fighting day and night, on the morning of July 25. The new No 1 blast furnace of Ninggang has a design capacity of 2500 cubic meters and an annual output of 2.13 million tonnes of hot metal. The latest smelting process and technical equipment have been adopted. The proportion of domestic equipment is higher than that of the same type of blast furnace in China, and the overall technology and equipment level is higher than the existing level of domestic blast furnace.

The production of the new No 1 blast furnace will further enhance the green safety development level of Ninggang, further enhance the lean manufacturing capacity of Ninggang, further enhance the comprehensive competitiveness of Ninggang, and inject new strength into the high quality development of Ninggang!

Source : News Metal

voda 30 juli 2019 16:31

Usha Martin Q1 Reports PAT at INR 382.66 crores

Usha Martin Ltd has reported financial results for the period ended June 30, 2019. The company has reported total income of INR 583.25 crores during the period ended June 30, 2019 as compared to INR 632.26 crores during the period ended March 31, 2019. The company has posted net profit of INR 382.66 crores for the period ended June 30, 2019 as against INR 47.89 crores for the period ended March 31, 2019.

The company has reported total income of INR 583.25 crores during the period ended June 30, 2019 as compared to INR 609.08 crores during the period ended June 30, 2018. The company has posted net profit of INR 382.66 crores for the period ended June 30, 2019 as against INR 11.78 crores for the period ended June 30, 2018.

Source : Strategic Research Institute

voda 30 juli 2019 16:31

Usiminas Reports Q2 Result

Usiminas ended the second quarter of the year with a 125% increase in net income. The total amount between April and June was R$ 171 million, compared to a net profit of R$ 76 million in the previous quarter. In the same period, the Company's consolidated Adjusted Ebitda (earnings before interest, taxes, depreciation and amortization) reached R$ 576 million, an increase of 18% compared to the first quarter of the year, when Adjusted Ebitda was R$ 488 million. The increase is mainly associated to higher steel sales volumes and higher iron ore and steel prices.

In the second quarter, Usiminas total steel sales reached 1.1 million tons, 4% up, over the first three months of the year. A total amount of 949 thousand tons was traded in the domestic market (7.2% increase compared to 1Q19) and 110 thousand tons in the foreign market (7.5% reduction when compared to 1Q19). According to information released by “Brazil Steel Institute”, apparent consumption of flat steel products in the country reached 6.2 million tons in the first six months of 2019, 1.4% up over the same period last year.

Usiminas CEO, Mr Sergio Leite, points out that, the company has been concentrating all its efforts to continue presenting solid results, as recent indicators of economic activity in the country are below expectations. He added that “Economic recovery remains slow. Central Bank's Economic Activity Index, “IBC-Br”, indicated a 0.06% drop in the first four months of the year and Focus Bulletin shows that after falling 19 consecutive times, the country's GDP projection is currently below 1%”.

Mr Leite emphasizes that, even in this scenario, Usiminas has reached a production of rolled products at Ipatinga and Cubatão plants of 1.1 million tonnes, 4% up, over the first quarter. He said that “Our goal is to surpass results, regardless the difficulties and complexity of the economic scenario.”

In terms of investments, the company ended the second quarter with an increase of 19% compared to the previous quarter. Usiminas Capex in the period reached R$ 105 million with investments directed mainly to sustaining Capex, safety and environment.

Source : Strategic Research Institute

voda 30 juli 2019 16:34

GMS Market Commentary on Shipbreaking in Week 30 - ROUGH RIDE!

Markets across the subcontinent continue to endure a rough ride over the summer months and there is virtually no good news over the recent past that would bring optimism back to the industry (at least until the monsoon’s start winding down). Steel plate prices in India have declined by about USD 50/LDT over the course of July, leaving vessel prices positioned well below the USD 400/LDT mark – a precarious position for those Cash Buyers who are still stuck with (expensive) tonnage to sell. Bangladesh remains in the mire as well, with still no positive news forthcoming regarding the reversal of the 10% VAT imposed over the recent budget (something that has seen prices adjust downward by about USD 30/LDT). Most yards are still stuffed with tonnage and it may take several months over the traditionally quieter monsoon period, for vessels to be digested and local demand to return.

Pakistan too has remained out of the buying, with cheap Iranian billet imports that are still putting pressure on local prices and a recent currency collapse, both of which have conspired to see very few vessels being committed to Gadani Buyers for nearly a year. Finally, the Turkish market continues to trudge along (unchanged), with a minor improvement reported in local steel prices, whilst the Lira continues to linger around the TRY 5.6X mark.

Source : Strategic Research Institute

voda 30 juli 2019 16:35

EU Continues to Fund Coal & Steel Research

EURACTIV ported that a relatively unknown EU fund supports coal and steel research projects. Among other things, the money is used to purchase highly toxic gases and optimise processes in the coal industry. The EU should soon be done with relying on coal by 2025 at the latest, there should no longer be subsidies for the coal industry. And yet the European Commission continues to support projects of large energy companies for coal research projects. Documents from Europe’s largest network of environmental citizens’ organisations, the European Environmental Bureau, demonstrate this. EURACTIV was presented with this document.

For example, one of the 150 or so projects funded is examining the gasification of lignite and recyclable materials to make the process “more efficient and cost-effective”. When it comes to the gasification process called High-Temperature Winkler, liquid fuels such as methanol or diesel are produced from synthetic gas.

The European Commission is allocating more than EUR 1.75 million to the project, in which the energy supplier RWE, in cooperation with the Technical University Darmstadt, built a pilot plant in 2015.

ThyssenKrupp, the universities of Ulster and L’Aquila, the Hellas Centre for Research &Technology and the Polish Institute for Chemical Processing of Coal are also involved.

The plant aims to investigate the gasification of coal together with other substances. If other substances such as biomass or plastics are included, the proportion of coal in this commonly used process could potentially be reduced. This is according to a researcher at Darmstadt Technical University, who was contacted by EURACTIV.

As for many other projects, the EU supports the research project with grants covering 60% of the costs that go to staff, purchases and additional costs. TU Darmstadt received more than half a million euros to hire staff to look after the gasification plant.

RWE also received almost EUR 330,000 for staffing costs and €360,000 for equipment from the EU. Part of this money even went towards the purchase of highly toxic gases such as hydrogen sulphide.

Source : EURACTIV

voda 30 juli 2019 16:36

Canada Government Supports Gerdau Ameristeel Whitby & Cambridge Upgrade

The Government of Canada stands with hard-working steel and aluminum workers, their families and their communities. And we are delivering on our commitment to support the steel manufacturing sector and its workers. Today, Jennifer O'Connell, Parliamentary Secretary to the Minister of Finance (Youth Economic Opportunity), on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, announced a $20-million investment in an $81.2-million project that will create 108 jobs and maintain 710 more in Whitby and Cambridge, Ontario.

This investment will help Gerdau Ameristeel upgrade its facilities in Whitby and Cambridge to modernize steel production lines, reduce manufacturing costs, reduce the amount of scrap metal going to landfills and improve production capability for billets, which are semi-finished long steel products used to produce other steel-based products such as angles, rebar, flats or channels.

Ms Jennifer O'Connell, Parliamentary Secretary to the Minister of Finance (Youth Economic Opportunity) said that "We are committed to supporting Canadian steel workers and the innovative, world-class products they produce. Our investment in Gerdau will help strengthen the competitiveness of the steel sector for years to come, maintain Canada's position in the global market and support jobs for middle-class Canadians here in Durham region."

Source : Strategic Research Institute

voda 30 juli 2019 16:37

Hoa Phat Retains Top Position in Construction Steel Market in Vietnam

VNA reported that Hoa Phat Group sold more than 1.34 million tonnes of construction steel to the Vietnamese market in the first half of 2019, up 22.9% year on year, retaining its position as the biggest supplier with a market share of 25%. At the same time, its construction steel exports also increased by 35% from the same period last year. Hoa Phat also maintained the largest steel pipe market share, nearly 30%, in Vietnam as 363,200 tonnes of these products were sold in the reviewed period, up 15.6%. Those achievements contributed to the group’s total profit of 3.86 trillion VND (nearly 166.5 million USD) in the six months, fulfilling 58% of the target for this year.

Hoa Phat Chairman Mr Tran Dinh Long said “The global and Vietnamese steel industry had never faced so many difficulties like in the past six months, when iron ore prices topped 120 USD per tonnes, almost doubling the figure in the same period last year. Amidst that situation, such business results were relatively good. Difficulties may linger for the rest of 2019 as growth in the property market is slowing down.”

Source : Vietnam Plus

voda 30 juli 2019 16:38

Contract Employee Dies at Arjas Steel

Hindu reported that a contract employee working at the steel melting shop of Arjas Steel at Tadipatri in the district, died in an industrial accident on Friday when a stack of refractory bricks fell on him and he fell on sharp fork of the ‘fork lift’, which pierced through his neck. Mr Mallesh, 27, had been working at the factory for the past six years, and was employed by the Hyderabad-based Global Technical Services for Arjas Steel, which was known as Gerdau Steel India before change of management.

The Tadipatri police said that Mr Mallesh hailing from Vajram village of Polanki mandal of Srikakulam district, was working as a helper and while fixing a sling to the ‘fork lift’ his back remained in contact with a stack of 600 to 700 refractory bricks. A bunch of the refractory bricks from the top fell on him leading to his falling on the sharp fork of the machine and it cut through his neck on the right side, the police added.

The police went to the spot and conducted inquest and the company employing him has agreed to pay compensation.

Company representative said that there was no security lapse from the Arjas Steel side, but the company would pay all the statutory compensation and was helping the family with initial expenses.

Source : Hindu

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