Arcelor Mittal « Terug naar discussie overzicht

Nieuws en info hier plaatsen (deel 4)

voda
0
SAIL Allowed to Offload 25% of Iron Ore Output

Business Line reported that Ministry of Mines has allowed Steel Authority of India Ltd to offload, in a year, up to a quantity equivalent to maximum of 25 per cent of total iron ore production in the previous year. This is subject to clearance from the respective State governments where the mines are located. It is valid for a period of two years. This development implies that around 7 million tonnes of iron ore, produced at mines in Jharkhand, Odisha and Chhattisgarh, can be offloaded by SAIL to the domestic market after getting the necessary clearances.

SAIL has also been allowed to dispose of old stock of 70 million tonnes of low-grade iron fines and ores (including slime) dumped across different captive mines of SAIL, after getting the necessary permission from Jharkhand, Odisha and Chattisgarh, where the mines are located.

According to Section 8A(6) of Mines and Minerals (Development and Regulation) Act, 1957, the lease of 31 working mines of iron ore expires on March 31, 2020. After the expiry, it is expected to lead to a shortfall of 60 million tonnes of iron ore in the market.

Source : Business Line
voda
0
Liberty Fires Starting Gun on New Pan-European Steel Network

Mr Sanjeev Gupta has pledged to invest EUR 400 million over five years to build Liberty Steel’s newly acquired European steelworks into a major force in the global steel industry. Liberty has set a goal of expanding sales at the plants by 50% by 2022. Mr Gupta said “I’m proud to welcome thousands of skilled and committed staff into the GFG family. Our goal is to build a bright and sustainable future for the European steel industry, which we believe presents a fantastic opportunity. As well as being a landmark day for the GFG Alliance, this is the largest British investment in the continental European steel industry for a generation. It underlines our determination to revitalise British industry and to forge a path to prosperity for the 21st century.”

Liberty Steel, part of the GFG Alliance, this week officially inaugurated seven steelworks and five major service centres as part of the GFG family. The sites were bought at the beginning of July in a EUR 740 deal that made Liberty one of the top ten steel producers globally, excluding China, with a total rolling capacity in excess of 18 million tonnes. The steelworks are in Ostrava, Czech Republic; Galati, Romania; Piombino, Italy; Skopje, North Macedonia; Dudelange, Luxembourg and two plants near Liege, Belgium. Taken together, they employ 14,000 people and take the GFG Alliance’s global workforce to nearly 30,000 across 30 countries.

The completion of the acquisition triggered the start of a 100-day review during which senior executives from Liberty Steel Continental Europe have been working with local management teams, trade unions, customers and suppliers, to launch a comprehensive analysis of the businesses. This has allowed them to explore investment opportunities and develop detailed plans to boost competitiveness, extend product ranges and support sales growth.

Source : Strategic Research Institute
voda
0
SSAB to Lay Off in Finnish Operations

SSAB has started to explore flexibility measures related to staffing adjustments at the end of August and initiated employer-employee negotiations in its Finnish operations concerning potential temporary lay-offs of a maximum of 90 days. The negotiations have now ended and there will be a temporary lay-off need averaging 2-3 weeks in 2019. The temporary layoffs concern SSAB Europe, which has the largest sites in Raahe and Hameenlinna, as well as Group functions.

The exact allocation of layoffs will be determined over the coming weeks. Any need for temporary lay-offs in early 2020 will be assessed separately.

Source : Strategic Research Institute
voda
0
Kardemir Plans New Blast Furnace

Turkey’s steelmakers Kardemir announced plans to establish a new blast furnace with an annual production capacity of 1 million tonnes. Kardemir said in a filing with Borsa Istanbul that “Within the scope of the 3.5 million tonne steel production capacity target, as well as the performance increase and productivity, a new furnace has been decided to be established by the Board of Directors,”

The company, however, did not provide the financial details, such as the estimated cost, of the new investment. In the first half of this year, the company’s liquid steel output reached 1.16 million tonnes, slightly lower than the 1.2 million tonnes of production in the same period of 2018. Its primary sales amounted to 1.19 million tons in January-July, up from 1.12 million tonnes a year ago.

Source : Strategic Research Institute
voda
0
Severstal Invests in Arcanum Alloys in US

Severstal announced that it has been a leading investor in the last round of financing Arcanum Alloys Inc, an American company, engaged in the development and production of innovative materials based on steel. Severstal acted as a lead investor with investments of about USD 6 million. Among other investors, a major American venture capital firm, Khosla Ventures.

Arcanum Alloys Inc has developed a unique technology for the production of rolled products with a diffusion-modified surface layer. Thanks to this technology, the company can produce a wide range of products with improved properties. Their first product offers aesthetic and corrosion properties equivalent to stainless steel, but with excellent formability and lower cost and capital costs. Products with such qualities may be of interest to customers in the automotive industry, the construction industry and manufacturers of household appliances.

Source : Strategic Research Institute
voda
0
Metinvest Announces H1 Financial Result

Metinvest BV announced its unaudited IFRS interim condensed consolidated financial statements for the six months ended 30 June 2019. Mr Yuriy Ryzhenkov, Chief Executive Officer of Metinvest said that “In the first half of 2019, Metinvest continued to make solid progress on its long-term objectives, focusing foremost on improving its operations. Sustainability is a priority in our work and a major rationale for our long-term investments. We have multiple projects under way aimed at reducing our impact on the world in which we live. We are committed to making our communities cleaner and more comfortable as part of a broader push to position Ukraine at the forefront of the fight against global climate change. As such, in the first half of 2019, we expanded our direct spending on ecological efforts by 16% year-on-year to US$163 million.
Assessing our operational performance, I am pleased to say that our assets delivered decent production results in the first half, with the output of iron ore concentrate up by 3% year-on-year, of coking coal up by 5% year-on-year and of crude steel up by 3% year-on-year. Launching Ilyich Steel's new continuous casting machine allowed the Group to improve the metal product mix in favour of higher value-added goods.
At the same time, production of coke and hot metal was affected to some extent by coal supply interruptions, as Russia restricted deliveries to the Group. However, we were well prepared for this development, as we had put in place sufficient coal stocks, diversified our seaborne coal supplies and acquired a stake in the Pokrovske coal business in Ukraine, securing an additional local source.”

Operational highlights
In June, Azovstal completed the major overhaul of blast furnace no. 3 and construction of the pulverised coal injection unit.
In January, the Group acquired 23.71% in Southern Coke, a Ukrainian producer of metallurgical coke with annual coke production capacity of some 600 kt, for a cash consideration of USD 30 million.
In August, the Group acquired 49.37% in Dnipro Coke, a Ukrainian producer of metallurgical coke with annual coke production capacity of some 700 kt, for a cash consideration of USD 11 million.

Voor cijfers, zie pdf.

Source : Strategic Research Institute
Bijlage:
voda
0
GMS Market Commentary on Shipbreaking in Week 37 in India - ERIE SILENCE!

Indian buyers have seen local steel plate prices decline even further this week (by about USD 5/Ton) amidst a rampant fall that has covered over USD 75/Ton since early July, as an eerie silence descends across the domestic ship recycling sector. Other than the few units that are seeking an HKC SoC green recycling option, over the recent past, very few fresh sales have taken place into Alang and most end Buyers are choosing to wait and watch the market, to see if prices will slump even lower.

Despite having firmed this week to just under INR 71, the currency too has endured a miserable time of late with the Indian Rupee trading close to INR 72 against the US Dollar, having depreciated by about 2% over the course of another shocking month of declines.

As such, the Indian market continues to be the lowest placed subcontinent market, as both domestic fundamentals take turns in ensuring that local offerings continue to dissipate.

Source : Strategic Research Institute
voda
0
USITC Finds Mexico Refillable Stainless Steel Kegs Imports Hurting US Industry

The United States International Trade Commission determined that the establishment of a US industry is materially retarded by reason of imports of refillable stainless steel kegs from Mexico that the US Department of Commerce has determined are sold in the United States at less than fair value. As a result of the USITC’s affirmative determination, Commerce will issue an antidumping duty order on imports of this product from Mexico. The Commission also made a negative finding concerning critical circumstances with regard to imports of this product from Mexico. As a result, imports of refillable stainless steel kegs from Mexico will not be subject to retroactive antidumping duties.

Type of investigation: Final phase antidumping duty investigation.
Petitioners: American Keg Company LLC, Pottstown, PA.
USITC Institution Date: September 20, 2018.
USITC Hearing Date: August 14, 2019.
USITC Vote Date: September 16, 2019.
USITC Notification to Commerce Date: October 3, 2019.

Source : Strategic Research Institute
voda
0
Karelian Pellet Resume Supplies of Iron Ore Concentrate to Cherepovets Steel Mill

Leading iron ore mining and processing plant in Russia, Karelian Pellet has resumed supplies of iron ore concentrate to the Cherepovets Steel Mill. This is one of the first projects implemented as part of Upstream. Thanks to him, CherMK significantly reduced the purchase of this product from third parties. The concentrate shipment route at Karelian Pellet was mothballed 10 years ago, but in the first quarter of this year a decision was made to put it back into operation. It was necessary to adapt to the preparation and pelletizing section of the concentrate under new and rather difficult conditions as soon as possible. For this, some nodes were repaired, for example, a self-propelled hopper and main conveyors. The technological chain was reconfigured so that it was possible to send concentrate for loading into wagons, without stopping the pellet production process.

In the production of concentrate, new ceramic filters help, the installation of which was completed at the beginning of the year. Thanks to this equipment, moisture adjustments occur promptly and efficiently. Changes have also taken place on the finished product site. Here, the specialists of the technological automation and metrology workshop automated the work of the concentrate loading hopper.

Mr Maxim Vorobyev Director General of Karelsky Pellet and Olkon said that “This project is a prime example of cooperation within Upstream. Team members found an effective cross-functional solution that benefited everyone. We continue to work in this direction colleagues from Kostomuksha and Cherepovets are in constant communication and search, and we already have new joint ideas that will also have a significant effect.”

Source : Strategic Research Institute
voda
0
GMS Market Commentary on Shipbreaking in Week 37 in Pakistan - RETICENT & HESITANT!

Pakistani buyers remain on the subcontinent sidelines, unwilling to offer sensibly on any of the sparsely available vessels being proposed for recycling, seemingly nervous to dip back into the buying after over a year of being on the sidelines. Plots and port reports remain virtually empty and this is unlikely to change any time soon, with the prevailing attitudes in Pakistan being so reticent and overall hesitant.

However, there are unlikely to be many vessels coming their way, with all of the freight markets performing admirably and an alarming slowdown in the supply of eligible candidates to local Recyclers.

Source : Strategic Research Institute
voda
0
Stelco Holding Proposed Private Offering of Senior Secured Notes Due 2024 by Stelco Inc

Stelco Holdings Inc announced that its wholly owned subsidiary, Stelco Inc intends, subject to market and other conditions, to offer approximately USD 300 million in aggregate principal amount of senior secured notes due 2024. The Notes will be offered by a syndicate of initial purchasers by way of a private placement under applicable securities laws. Stelco Inc. intends to use the net proceeds from the offering for capital expenditures and general corporate purposes, which may include potential acquisitions, joint ventures and strategic alliances or distributions to the Company.

The Notes will not be qualified for distribution to the public under the securities laws of any province or territory of Canada and may not be offered or sold in Canada, directly or indirectly, other than pursuant to applicable prospectus exemptions.

Source : Strategic Reseach Institute
voda
0
GMS Market Commentary on Shipbreaking in Week 37 in Turkey - TURKISH TUMBLE!

The Turkish market took an admirable tumble, with local steel plate prices declining by over USD 30/MT during the course of the week, sending offers on prospective units plummeting in kind. Despite the Turkish Lira improving this week (towards the TRY 5.70 mark against the US Dollar), it did little to stabilize the weakening sentiment as local Recyclers started fearing for the worst amidst a plate price that seemed to be in free fall.

As such, local Buyers even stopped offering on units, hoping for some sort of stability to soften the tumbling plate prices, before starting to negotiate on proposed units.

Source : Strategic Research Institute
voda
0
Metalloinvest Announces Dividends for 6 Months

Metalloinvest a leading global iron ore and HBI producer and supplier,and one of the regional producers of high-quality steel, has announced its dividends. Based on 6 months of 2019 results and Net Debt/EBITDA LTM ratio of 1.25x as of 30 June 2019, the shareholders of Metalloinvest made a decision to pay out the dividends in the total amount of 10.5 billion roubles.

Source : Strategic Research Institute
voda
0
Moody Assigns B3 CFR Rating to Stelco

Moody's Investors Service assigned ratings to Stelco Inc consisting of a B3 corporate family rating, B3-PD probability of default rating, and a B3 rating to its proposed $300 million senior secured notes. The ratings outlook is stable. This is the first time Moody's has rated Stelco. Stelco's new capital structure will consist of a CAD 375 million ABL revolver which is expected to be largely undrawn at close, and USD 300 million of secured notes.

Assignments:
Issuer - Stelco Inc
Corporate Family Rating, Assigned B3
Probability of Default Rating, Assigned B3-PD
Senior Secured Regular Bond/Debenture, Assigned B3

Outlook Actions:
Issuer: Stelco Inc
Outlook, Assigned Stable

Source : Strategic Research Institute
voda
0
Resultaten onder druk bij US Steel

FONDS KOERS VERSCHIL VERSCHIL % BEURS
Nucor
$ 52,90 -0,20 -0,38 % NYSE
US Steel Corp
$ 12,46 -0,50 -3,86 % NYSE

(ABM FN-Dow Jones) United States Steel verwacht dat over het derde kwartaal een verlies van 0,35 dollar per aandeel zal worden geboekt. Dit maakte de staalreus woensdag bekend.

Het staalbedrijf gaat er vanuit een aangepaste EBITDA van 115 miljoen dollar te realiseren in het derde kwartaal. Hierbij dient te worden opgemerkt dat de impact van de brand bij hun fabriek in Clairton niet is meegenomen. Die impact wordt geschat op 53 miljoen dollar.

Met een verwacht aangepast verlies per aandeel van 0,35 dollar blijft US Steel achter bij de consensus van de door Factset geraadpleegde analisten, zij gaan uit van een verlies van slechts 0,10 dollar per aandeel.

De dalende staalprijzen in combinatie met de impact van een grotere dan verwachte daling van schrootprijzen zal naar verwachting een negatieve invloed hebben op winst in de tweede helft van het jaar, aldus US Steel.

Voor Europa ziet US Steel de marktomstandigheden ook verslechteren. De discrepantie tussen de grondstofkosten en de staalprijzen zetten de marges onder druk.

Eerder deze week maakte sectorgenoot Nucor bekend dat dit jaar hun inkomsten in het derde kwartaal onder druk staan door lagere staalprijzen en marges.

US Steel sloot woensdag 3,9 procent lager op 12,45 dollar. In de nabeurs handel moest het aandeel nog eens 7,7 procent terrein prijsgeven.

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

© Copyright ABM Financial News B.V. All rights reserved.
voda
0
Inclusion of Steel in RCEP Worrying Indian Steel Mills

Economic Times reported that Indian steel industry captains have called on the government to exercise caution while finalizing the multilateral trade agreement India’s Regional Comprehensive Economic Partnership. Mr Seshagiri Rao joint MD of JSW Steel told ET “Our plea is that even if RCEP negotiations are finalized, Indian steel industry which has suffered in the past even under the current FTA arrangements with 13 countries, should be excluded from its purview.”

Mr TV Narendran MD of Tata Steel added “We sincerely hope the proposed review of India-ASEAN FTA would help in addressing the growing asymmetry in bilateral trade in goods between the two regions, ensure less violation of Rules of Origin and enable better utilization of the FTA by the Indian Industry.”

Mr Deependra Kashiva ED of Sponge Iron Manufacturers Association, said "Even if the steel industry is included within the RCEP's purview: it should come with certain safeguard mechanisms, a flashpoint that could check which countries are exceeding safe limits that do not threaten the domestic industry.”

However, a report by ICICI Securities said “The fear of imports from China is relatively unfounded and, if witnessed, can be better addressed by staying within the RCEP framework vis-a-vis staying out.”

Source : Economic Times
voda
0
Indian Steel Consumption Growth Likely to Slow Down to 6% - ICRA

Ratings agency ICRA said that the domestic steel consumption growth is expected to decelerate to around 5%-6% in FY2020 as compared to 7.9% in FY2019, on the back of an unprecedented slowdown in economic activity, as reflected by GDP growth tapering down to 5.0% in Q1 FY2020. Consequently, margin outlook for steelmakers has weakened in Q2 due to a sharp fall in steel prices and firm raw material costs, though some recovery is expected in Q3 FY2020. As per ICRA, the demand environment is expected to improve somewhat in the second half of FY2020 following a likely pick-up in infra spending.

Mr Jayanta Roy Senior Vice-President and Group Head Corporate Ratings, ICRA said that “Industry operating environment remains challenging in FY2020 thus far. Our analysis of prevailing trends of 22 companies comprising 60% of industry size indicates that reduced demand and steel prices amidst firm raw material costs have restricted the revenues and operating margins of the industry in Q1FY2020. The decline in steel prices and seasonally weak demand are also likely to keep Q2 financial performance muted for the domestic steelmakers. However, a likely pick-up in infra spending in the second half and softer coking coal prices could benefit steelmakers for the remainder of the year. Profitability may recover somewhat in Q3, with a sharp fall in coking coal prices in August 2019 and expectation of better demand from the construction sector during that quarter.”

Bulk of the domestic steel industry’s ongoing capacity expansion projects are being undertaken by the larger integrated steel players who have the benefit of a stronger balance sheet. In FY2019, the industry operated at a capacity utilizations rate of around 84%. With fresh capacity addition of only around 3 million tonne per annum being planned in the current fiscal, the industry’s capacity utilization rates are expected to remain at a healthy level of 85% in the current year as well, notwithstanding a slower demand growth.

Source : Strategic Research Institute
voda
0
JSW Steel cuts US CAPEX by 60% Due to Low Capacity Utilization

The Hindu Business Line reported that JSW Steel has cut its capital expenditure plans in the US by 60% to USD 400 million due to weak demand and a slowing economy. Mr Seshagiri Rao, Joint Managing Director, JSW Steel, told Business Line that “The company had already invested USD 250 million in restarting production at Mingo Junction in Ohio in the first phase and similar amount was to be invested in the second phase which has been put off till the demand improves. In Baytown, the company had invested USD 150 million but has put off construction of a new electric-arc furnace with an investment of USD 350 million until market conditions improve. The capacity utilization at present in the US is very low and the company wants it to improve substantially before taking a call on incurring further CAPEX.”

Last year, the company had plans to invest USD 500 million each in two of its steel plants at Baytown in Texas and Ohio to enhance capacity and improve operational efficiency.

Source : The Hindu Business Line
voda
0
POSCO Mass Producing S31254 Stainless Steel for Sulfur Scrubbers for Marine Vessels

POSCO announced that it will actively target the super alloy stainless steel market to make sulfur scrubbers ahead of next year, when tighter sulfur oxide emissions guidelines on ships come into effect. Through extensive research and development, POSCO has succeeded in mass-producing S31254, a high-alloy stainless steel developed for use in seawater. The steel contains high levels of molybdenum and nitrogen, providing high resistance to pitting and crevice corrosion as well as high strength compared with conventional stainless steels. POSCO said it formed a cross-functional team dedicated to the development of super alloy stainless steel last year and succeeded in mass producing the product early this year. It is already supplying its steel to local scrubber designing and manufacturing companies including Hyundai Heavy Industries Power Systems and Kangrim Heavy Industries.

Super alloy stainless steel is used to make sulfur scrubbers, exhaust gas cleaning systems that remove sulfur from emissions as fuel is burned so that ships can continue using high-sulfur fuel despite tighter guidelines. Under to-be-implemented International Maritime Organization guidelines, ships have to use marine fuel with a sulfur content of no more than 0.5% from January 2020, a huge cut from the current cap of 3.5%. Due to the stringent International Maritime Organization (IMO) regulations to remove sulfur and harmful emissions from ships, the SOx scrubber will be applied to more than 12,000 vessels over the next five years.

Shipping lines have a choice of using expensive fuel with less sulfur, attaching scrubbers to existing ships or changing their fleet to liquefied natural gas-powered ships to meet the guidelines.

Source : Strategic Research Institute
voda
0
US Steel Lowers Third Quarter 2019 Guidance

United States Steel Corporation has provided third quarter 2019 guidance. It said “We expect third quarter 2019 adjusted EBITDA to be approximately USD 115 million, which excludes approximately USD 53 million of estimated third quarter impacts from the December 24, 2018 fire at our Clairton coke making facility and estimated restructuring charges. We expect third quarter 2019 adjusted diluted loss per share to be approximately (USD 0.35). It said “The positive flat-rolled steel market indicators experienced earlier this summer have softened after a brief recovery in steel selling prices. The impact of falling steel prices through the second quarter, combined with the impact of a larger than expected drop in scrap prices on market sentiment, is expected to negatively impact Flat-rolled earnings in the second half of the year. As a result, our current assessment of the Flat-rolled segment suggests two blast furnaces will remain idled through at least the end of the year. Based on the continued idling of our two U.S. blast furnaces and current demand forecasts, we now expect full year Flat-rolled shipments to third party customers to be approximately 10.7 million tons. We will continue to evaluate our footprint to best match our production with our order book.”

It said “In Europe, market conditions have continued to deteriorate, as the dislocation between steel selling prices and raw material costs continues to result in significant margin compression. Based on current market conditions and the continued high level of steel imports into Europe, we do not expect to restart the currently idled blast furnace this year. As a result, we reiterate our full year shipment guidance of approximately 3.6 million tons. We also continue to execute our labor productivity strategy at US Steel Europe, which includes a headcount reduction of 2,500 by the end of 2021. To date, we have eliminated approximately 1,800 positions.”

It added “We expect our Tubular segment to remain under pressure for the remainder of the year as market conditions have turned negative and import levels remain high. Weaker demand for oil country tubular goods product, which has reduced our full year shipment expectation to approximately 0.7 million tons, and lower selling prices for seamless and welded pipe, are expected to have a significantly negative impact on earnings in the second half of the year.”

Source : Strategic Research Institute
35.173 Posts, Pagina: « 1 2 3 4 5 6 ... 1062 1063 1064 1065 1066 1067 1068 1069 1070 1071 1072 ... 1755 1756 1757 1758 1759 » | Laatste
Aantal posts per pagina:  20 50 100 | Omhoog ↑

Meedoen aan de discussie?

Word nu gratis lid of log in met uw e-mailadres en wachtwoord.

Direct naar Forum

Detail

Vertraagd 10 mei 2024 17:35
Koers 23,880
Verschil +0,200 (+0,84%)
Hoog 24,320
Laag 23,870
Volume 2.942.344
Volume gemiddeld 2.533.911
Volume gisteren 1.871.161

EU stocks, real time, by Cboe Europe Ltd.; Other, Euronext & US stocks by NYSE & Cboe BZX Exchange, 15 min. delayed
#/^ Index indications calculated real time, zie disclaimer, streaming powered by: Infront