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Market Monitor

Arcelor Mittal « Terug naar discussie overzicht

Nieuws en info hier plaatsen (deel 4)

35.173 Posts, Pagina: « 1 2 3 4 5 6 ... 1110 1111 1112 1113 1114 1115 1116 1117 1118 1119 1120 ... 1755 1756 1757 1758 1759 » | Laatste

Omlaag ↓

voda 16 december 2019 16:52

Standard & Poor’s Global Ratings revises MMK outlook to positive

Magnitogorsk Iron & Steel Works announced that Standard & Poor’s Global Ratings has revised MMK outlook from stable to positive and affirmed the rating at BBB-. The outlook revision reflects robust performance of Russian steel producers at the environment of global steel industry downturn. The solid performance is backed by low production cost and stable demand for steel in the country. The S&P outlook upgrade reflects MMK’s ability to maintain a prudent financial policy by having the lowest leverage among Russian steel producers, keeping CAPEX discipline and sticking to conservative dividend policy.

S&P said "The positive outlook on MMK reflects the possibility that we could raise the ratings in the next 24 months if the company maintains solid credit metrics, with FFO to debt above 60%, even if industry conditions are more challenging than our current base-case scenario, while maintaining its conservative financial policy."

Source : Strategic Research Institute

voda 16 december 2019 16:54

Voestalpine geeft opnieuw winstwaarschuwing

FONDS KOERS VERSCHIL VERSCHIL % BEURS
Voestalpine AG
25,06 -0,08 -0,32 % Wiener Börse

(ABM FN-Dow Jones) Voestalpine heeft zijn tweede winstwaarschuwing in korte tijd gegeven en dreigt in het dividend te moeten snijden. Dit maakte de Oostenrijkse staalmaker maandag bekend.

Een eenmalige last van 360 miljoen euro drukt op de resultaten in boekjaar 2020. Daardoor komt het EBITDA resultaat vermoedelijk uit op 1,2 miljard euro. In november werd de winstverwachting ook al eens verlaagd, destijds naar 1,3 miljard euro.

Dit resulteert ook in een lager voorgesteld dividend. Tijdens de komende jaarvergadering dient het bedrijf daartoe een voorstel in. Hoeveel het dividend wordt verlaagd, specificeerde Voestalpine maandag niet. Vorig jaar keerde het bedrijf nog 1,10 euro per aandeel uit.

Het aandeel Voestalpine noteerde maandag vlak.

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

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

voda 16 december 2019 16:55

RINL-Vizag Steel Bestowed with National Conservation Award 2019

RINL CMD Mr PK Rath National Energy Conservation Award- First Prize under Integrated Steel Plant category from Power Minister Mr RK Singh on 14th Dec’2019 at Vigyan Bhavan in New Delhi. The National Energy Conservation Award- First Prize has been awarded to RINL for its significant contribution for reduction of specific energy consumption (SEC reduced from 6.40 Gcal/tCS in 2015-16 to 5.98 Gcal/tCS in 2018-19 thus registering reduction of 6.5%) through implementing various waste energy recovery technologies in Coke Dry Quenching, BF Top Pressure recovery system, BF Stoves waste heat recovery , LD Gas recovery, Sinter Cooler heat recovery etc, Injection of Pulverized coal in to Blast Furnaces to substitute BF coke, Installation of Billet caster in SMS-2, 120 MW Gas based Captive Power plant and installation of variable frequency drives in electrical systems in various units, installation of 5 MW Solar Power Plant and optimization of process parameters at various units and implementation of Energy Management System ISO 50001.

RINL also complied Perform, Achieve and Trade 2nd cycle target and Monitoring and Verification agency recommended for issuance of 129907 Energy Saving Certificates(ES Certs; 1 Es certs=10 Gcals) which is highest in Integrated Steel Sector.

The percentage reduction of SEC is highest in integrated steel category due to consistent efforts and implementation of above measures.

The plant has focused on installing waste heat recovery technologies in various facilities which accounts for 62% of total power generation capacity.

Further, RINL also has been awarded 130000 Certified Emission Reduction (Carbon credits) for two of its Clean Development Mechanism (CDM) projects such as Power generation from Cooling of Coke in Coke Oven battery #4 and Power generation from Top Pressure Recovery Turbine of Blast Furnace-3.

Source : Strategic Research Institute

voda 17 december 2019 13:00

'Arcelor bezorgd over toegang haven Liberia'

Gepubliceerd op 17 dec 2019 om 12:48 | Views: 78

ArcelorMittal 12:39
16,29 -0,37 (-2,21%)

MONROVIA (AFN/BLOOMBERG) - ArcelorMittal heeft de Liberiaanse regering gevraagd om garanties voor ongehinderde toegang tot de haven van Buchanan in het Afrikaanse land. Dat schrijft de lokale krant Front Page Liberia.

In de brief aan de Liberiaanse minister Nathaniel McGill uitte Scott Lowe, baas van ArcelorMittal Liberia, zijn bezorgdheid dat een recente concessieovereenkomst tussen de regering en de lokale partij Prista Oil Group het concessiegebied van ArcelorMittal in de haven verstoort. Het staalconcern wil in totaal 1,5 miljard dollar investeren in de haven als onderdeel van plannen om de export van ijzererts daar op te krikken. In de brief schrijft ArcelorMittal investeringen achter te zullen houden totdat de garanties binnen zijn. Een woordvoerder van ArcelorMittal weigerde verder commentaar te geven.

voda 17 december 2019 16:27

ArcelorMittal and Nippon Steel Complete Acquisition of Essar Steel

ArcelorMittal announces that it has completed the acquisition of Essar Steel India Limited and simultaneously established a joint venture with Nippon Steel Corporation, called ArcelorMittal Nippon Steel India Limited, which will own and operate ESIL. ArcelorMittal holds 60 per cent of AM/NS India, with Nippon Steel holding the balance. Mr Aditya Mittal, President and CFO of ArcelorMittal, has been appointed Chairman of AM/NS India and Mr Dilip Oommen has been appointed AM/NS India’s CEO.

AM/NS India is an integrated flat steel producer, and the largest steel company in western India. Its current level of annualised crude steel production is 7.5 million tonnes. It also has iron ore pellet facilities in the east of India, with current annual capacity of 14 million tonnes per annum. AM/NS India’s plans include

An intention to increase finished steel shipments to 8.5 million tonnes over the medium-term. This will be achieved by initially completing ongoing capital expenditure projects and infusing expertise and best practice to deliver efficiency gains, and then through the commissioning of additional assets, while simultaneously improving product quality and grades to realise better margins;

A long-term aspiration to increase finished steel shipments to between 12 and 15 million tonnes through the addition of new iron and steelmaking assets, in order that AM/NS India can play an active role and fully benefit from the anticipated growth in the Indian steel industry.

Mr Aditya Mittal said “India is a large and strategic market and we are delighted to be here. Our aim is to create sustainable and long-term value by becoming a leading steel manufacturer in the country. Essar Steel has quality facilities which provide us with immediate and substantial production capacity, and we also gain an excellent platform for further growth, across both volume and product quality. This acquisition gives us the opportunity to contribute to India’s expansion in infrastructure and urbanization in the coming decades. To do this, we have in place a targeted capital expenditure plan designed to build on our combined management strength, operational expertise, commitment to safe, sustainable steelmaking and industry-leading research and development. Through our proven partnership with Nippon Steel, we are confident that AM/NS India will create significant value for shareholders, our business partners, employees and communities in India.”

Source : Strategic Research Institute

voda 17 december 2019 16:29

Fitch Ratings Global Steel Outlook Is Negative on Looming Overcapacity

Muted global steel demand growth and increasing supply linked to earlier investments in capacity will continue to weigh on the industry in 2020, Fitch Ratings says. While we expect a moderate recovery in the coming 12 months, the impact already seen on steelmakers' capacity utilisation and margins, particularly in Europe, and persistent downside risks led to the negative sector outlook. Downside risks are linked to geopolitical tensions and political uncertainty in some countries, as well as progressive environmental reforms in China coinciding with a managed slowdown of growth ambitions.

Steel companies proceeded with investments to increase capacity and/or debottleneck existing assets over 2017-2018, which were highly profitable years for the industry. These capacity additions and upgrades were initiated before trade tensions started affecting growth at the beginning of 2019. However, as economic conditions have weakened in 2019, supply expansion is now running ahead of demand growth. Many producers have increased exports to maintain output and counteract weak domestic demand. But countries that typically are net importers, including the US and some countries in southeast Asia, have expanded production and are also experiencing weak sentiment and lower economic growth.

Oversupply looms large. Steel margins remain low and producers in some regions are now assessing options to curtail capacity. That is easier in regions with sufficient electric arc furnace (EAF) capacity (for example North America), as costs associated with idling production are lower than for the blast furnace route. As a result, the adjustment is more difficult and costly in Europe where the share of EAF capacity is low. Although some production cuts have been made, CRU believes more are needed in Europe before margins can materially recover.

We anticipate the main steel-consuming sectors in western Europe will remain under pressure in 2020. The auto sector is likely to see a low-single-digit decline in new vehicle sales due to structural changes, including uncertain electric vehicle adoption rates, and cyclical weaknesses. However, we expect incremental demand in construction and mechanical engineering. We forecast overall demand growth of around 1%, an improvement from a 4% decline projected in 2019. Trade tensions and Brexit uncertainty add to downside risks. Upside could come from fiscal stimulus.

The full implementation of a 6% European steel supply cut towards end-2019 (announced and partially executed) could help rebalance the market. As a result of temporary capacity curtailments and decreasing raw material prices we expect steel margins on average to improve in 2020 from the lows experienced in 2H19. However, carbon prices increased significantly in 2018-2019, and CO2 has become an important marginal cost item in EU steelmakers' cost structures. As a result, the modelled EBITDA margin is forecast to be negative in 2020 for production not covered by free CO2 allowances.

Source : Strategic Research Institute

voda 17 december 2019 16:30

US DoC Announces 5 Final Circumvention Determinations on Steel Products from Vietnam

US Department of Commerce announced five affirmative final antidumping duty and countervailing duty circumvention determinations involving steel products that are produced in Korea and Taiwan, shipped to Vietnam for minor processing, and then exported to the United States as corrosion-resistant steel products and cold-rolled steel in circumvention of existing orders. As a result, Commerce will instruct US Customs and Border Protection to continue to collect AD and CVD cash deposits on imports of CORE and CRS produced in Vietnam using Korean or Taiwanese-origin substrate. These duties apply to any unliquidated entries since August 2, 2018, the date on which Commerce initiated these circumvention inquiries. The applicable cash deposit rates will be as high as 456.20 percent, depending on the origin of the substrate and the type of steel product exported to the United States.

Shipments of CORE from Vietnam to the United States increased from $23 million (from April 2012 until preliminary duties were imposed on South Korean and Taiwanese products in December 2015) to $1.1 trillion (from imposition of preliminary duties in January 2016 until September 2019), which is an increase of 4,353 percent. Additionally, shipments of CRS from Vietnam to the United States increased from $49 million (in January 2013 until preliminary duties were imposed on South Korean and Taiwanese products in February 2016) to $498 million (from imposition of preliminary duties in March 2016 until April 2019), which is an increase of 922 percent.

These inquiries were conducted pursuant to requests from U.S. domestic producers of CORE and CRS, including Steel Dynamics, Inc. (IN), California Steel Industries (CA), AK Steel Corporation (OH), ArcelorMittal USA LLC (IN), Nucor Corporation (NC), and United States Steel Corporation (PA).

Source : Strategic Research Institute

voda 17 december 2019 16:30

Shandong Iron & Steel grants FAC to SMS Group for Ultrawide Medium-Slab Caster

Shandong Iron & Steel Group Co Ltd Rizhao China has awarded SMS group the final acceptance certificate, following the successful commissioning of its new continuous caster for ultrawide slabs. The single-strand caster is designed for an annual production of 1.5 million tons of steel slabs with widths of up to 3,250 millimeters and a thickness of 150 millimeters. This means the casting machine is able to cast the widest slabs in the world. It processes structural steels, and micro and low-alloy steel grades. Peritectic grades make up more than 45 percent of the overall production output. The slabs are hot charged to the Steckel mill which rolls them down to sheet and hot strip.

Shandong Iron & Steel also ordered latest quality-enhancing digitalization solutions for the casting machine. The digital HD LASr (High Definition Laser Aligning System remote) alignment assistant, developed by SMS group, guarantees that the molds and segments are perfectly aligned. HD LASr (mold) and HD LASr (segment) systems constitute an intuitive operating concept for high-precision measurement and the optimal setup of the molds and segments in the workshop, using a 3D system – an important prerequisite for high slab quality.

SMS group uses HD moldTC (TC = Thermocouples) technology in this caster. Additionally, the narrow sides are equipped with HD moldFO (FO = Fiber Optic sensors), Breakout Prevention Assist and Mold Temperature Assist systems.

Source : Strategic Research Institute

voda 17 december 2019 16:31

Nucor Announces Changes in Board

Nucor Corporation announced that its Board of Directors has elected Leon J. Topalian as a director and John H. Walker to serve as Non-Executive Chairman of the Board of Directors, both effective January 1, 2020. Mr Topalian is the President and Chief Operating Officer of Nucor and will become the Chief Executive Officer of Nucor on January 1, 2020. Mr Walker, who has more than 35 years of experience in metal-related manufacturing and fabricating industries, has served as a member of Nucor's Board of Directors since 2008 and as Lead Director of Nucor since 2017.

Mr Topalian served as an Executive Vice President of Nucor from 2017 to 2019 and as a Vice President of Nucor from 2013 to 2017. He has been employed by Nucor in various capacities since 1996, including serving as general manager at two of Nucor's facilities, in Arkansas and Illinois, as well as a Melting and Casting Manager, an Operations Manager, a cold mill production supervisor and a project engineer.

Mr Walker served as Non-Executive Chairman of Global Brass and Copper Holdings, Inc. from 2014 to 2019, was Executive Chairman of Global Brass and Copper from 2013 to 2014 and was Chief Executive Officer of Global Brass and Copper from 2007 to 2014. Prior to joining Global Brass and Copper, Mr Walker was President and Chief Executive Officer of The Boler Company, Chief Executive Officer, President and Chief Operating Officer of Weirton Steel Corporation and President of flat rolled products for Kaiser Aluminum Corporation. Mr Walker is also a director of Owens-Illinois, Inc. and will serve as a director of Otis Elevator Company after its planned separation from United Technologies Corporation in 2020.

Source : Strategic Research Institute

voda 17 december 2019 16:32

Mr Longobardo will lead ArcelorMittal Kryvyi Rih

Starting from 2020, Mr Mauro Longobardo will become new CEO of ArcelorMittal Kryvyi Rih, he has previously lead ArcelorMittal Tubular Products Jubail. Mr Mauro Longobardo, who will be officially appointed as CEO of ArcelorMittal Kryvyi Rih from January 1, 2020, will report to Mr Vijay Goyal. Mr Longobardo has a long employment sheet. In particular, from 2002 to 2006 he worked for Tenaris Italy in the area of quality, technology and product development. He then moved to Argentina, where he oversaw different manufacturing sites at the local plant. In 2010, he was transferred to Dubai, to the position of Worldwide Coordination Director for OCTG. He also worked as Commercial Director and Regional Manager for some prospective countries in the Middle East. From 2013 to 2015, Mr Mauro joined Chelpipe as deputy CEO for strategy, technology and development in the Russian Federation. After that, he joined Interpipe, becoming Chief Operating Officer, based in Ukraine. Mr Longobardo joined the Group in February 2018, as Chief Executive Officer of ArcelorMittal Tubular Products Jubail.

Mr. Longobardo graduated in Materials Engineering from the Polytechnic University of Milan, Italy. He holds the ACE from MIT Sloan School Boston. He also received accelerated education at International School of Business and Management the AMP from Argentina University Buenos Aires.

Mr Paramjit Kahlon, current CEO of ArcelorMittal CIS, will work until the end of 2019 then he will leave the Group.

Source : Strategic Research Institute

Bijlage:

voda 17 december 2019 16:33

Takeover Plans for British Steel Progressing Well – Jingye

Grimsby Telegraph reported that Chinese Jingye Group said that a deal to rescue British Steel and save thousands of jobs in Scunthorpe is progressing well. A Jingye spokesman said "Following the agreement signed on November 10, Jingye Group and the relevant authorities continue to make progress in securing the necessary approvals to complete the transaction and remain confident that these will be achieved in the New Year.”

Media reports emerged over the weekend claiming the proposed sale of the Scunthorpe works and other British Steel assets to the Chinese Jingye Group was close to collapse.

Source : Grimsby Telegraph

voda 17 december 2019 16:33

voestalpine AG Statement on Quarto Plate Cartel

Regarding the press release of Bundeskartellamt on the subject of the “Quarto plate cartel” voestalpine AG confirms its involvement in the stated proceedings and has consented to a settlement with the German Bundeskartellamt in which it will pay a fine of EUR 65.5 million. voestalpine became aware of the Bundeskartellamt investigation following a search of company premises in September 2017. voestalpine supported the Bundeskartellamt investigation from the start and has cooperated in full. The affected enterprises also included the Dillinger Hüttenwerke, Ilsenburger Grobblech, and thyssenkrupp Steel Europe.

The origins of the events lie in the distant past and were related to specific price supplements as well as alloy and scrap surcharges on German sales of certain product groups of quarto plates, i.e., heavy plates not manufactured as hot-rolled strip. The longstanding practice had been to add these price supplements and surcharges to the base price negotiated with the individual customer, which resulted in the offer price. Subsequent to a change in pricing systems at voestalpine Grobblech, these price supplements and surcharges had already been discontinued many years ago. Furthermore, voestalpine Grobblech had never applied scrap surcharges, and alloy surcharges only in a few individual cases. In the past the standardized system of surcharges was often in line with customers’ requests.

Former and current members of the Management Board of voestalpine AG were neither involved in this matter and nor were they aware of it. As part of the process of assessing the facts, voestalpine has already reduced its association memberships to the minimum necessary and established restrictive regulations for participating in association meetings and events.
MS group supplies continuous caster with Industrie 4.0 technology for high-quality steel grades.

Source : Strategic Research Institute

voda 17 december 2019 16:34

ArcelorMittal Kryvyi Rih Investing in Gas Cleaning of Three Converters

ArcelorMittal Kryvyi Rih will continue the environmental modernization of converter shop. The company has signed a contract with Danieli Corus Netherlands for the reconstruction of gas cleaning installations of converters No 1-3. Updating of gas cleaning of all six converters is one of the key environmental projects of the plant, the total cost of which will exceed USD 135 million. Of this, the company has already invested USD 65 million in converters No 4–6 in 2015–2017, new gas cleaning by SMS Siemag German company were installed. Besides, the water cooling system of the exhaust converter gas at these three converters was switched to a closed cycle, thanks to this it was possible to reduce the consumption of chemically purified water and electricity by several times.

Similar projects will be implemented at the converters No 1–3. For them it is planned to install new gas cleaning in 2021–2022, the company will invest another USD 70 million. After that, dust emissions from all six converters will be less than 50 mg/m3, that will help to reduce the environmental load.

At the moment, Danieli Corus is developing the basic engineering of the project, its representatives have already held technical negotiations with the specialists of ArcelorMittal Kryvyi Rih, they have sent a package of documentation for consideration. Directly in the converter shop, the specialist of the supplier company has already started working, a permanent workplace has been defined for him. Next year, Danieli Corus will begin preparing detailed engineering. The supply of equipment for the first of three gas treatment plants is scheduled for January 2021. A stop for the reconstruction of the first of the three converters is planned for the end of 2021.

Source : Strategic Research Institute

Bijlage:

voda 17 december 2019 16:35

JSW Steel Update on Vardhman Resolution Plan Status

JSW Steel announced that “As per the terms of approved Resolution Plan, JSWSL shall, infuse its commitment of INR 63.5 crores in VIL through equity shares and or debt within a period not later than 30 days from date of issuance of the NCLAT Clarification Order. The financial creditors shall receive a total consideration of INR 62.5 crores and the operational creditors shall receive an aggregate consideration of INR1 crore for the settlement of the existing debt of VIL. As per the Resolution Plan, VIL shall be delisted. Since the liquidation value payable to the existing shareholders of VIL is nil the entire existing shareholding of VIL shall stand reduced to nil by way of a capital reduction with effect from the Effective Date. As per the approved Resolution Plan, JSWSL shall be classified as the promoter of VIL, and the existing promoters and promoter group shall be de-classified as promoters and promoter group’ of the Company. Also with effect from the date of NCLAT Clarification Order, VIL shall stand declassified as ‘promoter’/ ‘part of promoter group’ of any company or entity, including any subsidiaries or joint ventures or Associate Companies (other than JVTPL) in which VIL has made any investment and reclassified as ‘public shareholders’ of such companies.”

Further, as the NCLAT Clarification Order, dated December 11, 2019, was issued on December 13, 2019 (after office hours) all the other Resolution Plan implementation steps shall commence from December 16, 2019.

Source : Strategic Research Institute

voda 18 december 2019 16:27

ArcelorMittal Nippon Steel India Management Team Structure

Upon the acquisition of Essar Steel by ArcelorMittal and Nippon Steel, the Chairman of the Board of the ArcelorMittal Nippon Steel India Joint Venture will be Mr Aditya MITTAL, President and Chief Financial Officer of ArcelorMittal and Chief Executive Officer of ArcelorMittal Europe.

The Board will be composed of the following

ArcelorMittal nominees - Mr Aditya MITTAL, Mr Brian ARANHA, Mr Prabh DAS, Ms Hilde VAN GREMBERGEN

Nippon Steel nominees - Mr Katsuhiro MIYAMOTO, Mr Yoichi FURUTA, Mr Hideki OGAWA, Mr Taisuke NOMURA

The new company will be led by a Management Committee, composed of nominees by ArcelorMittal and Nippon Steel:

Mr Dilip OOMMEN is joining ArcelorMittal as Vice President of ArcelorMittal and a member of the group management committee. He is nominated by ArcelorMittal and appointed as the Chief Executive Officer of AMNSI, effective 16th December 2019.

Mr Alain LEGRIX DE LA SALLE, Vice President of ArcelorMittal, is nominated by ArcelorMittal and appointed director and vice president - sales & marketing of AMNSI, effective 16th December 2019. He reports to Mr Dilip OOMMEN.

Mr Geert VERBEECK, General Manager of ArcelorMittal, is nominated Vice President of ArcelorMittal. He is nominated by ArcelorMittal and appointed as director and vice president - operations of AMNSI, as from January 2020. He reports to Mr Dilip OOMMEN.

Mr Takahiro NAGAYOSHI, executive officer of Nippon Steel, is nominated by Nippon Steel and appointed as director and vice president - finance of AMNSI, effective 16th December 2019. He reports to Mr Dilip OOMMEN.

Mr Hiroyuki NITTA, managing executive officer of Nippon Steel, is nominated by Nippon Steel and appointed director and vice president - technology, of AMNSI, effective 16th December 2019. He reports to Mr Dilip OOMMEN.

Further ArcelorMittal appointments in the new Joint Venture are

Mr Amit HARLALKA is nominated General Manager of ArcelorMittal and is appointed deputy director - finance of AMNSI, effective 16th December 2019. He reports to Mr Takahiro NAGAYOSHI, director and vice president - finance of AMNSI.

Mr Hrishikesh KAMAT is nominated General Manager of ArcelorMittal and is appointed executive director - procurement of AMNSI, effective 16th December 2019. He reports to Mr Geert VERBEECK.

Mr Akshaya GUJRAL is nominated General Manager of ArcelorMittal and is appointed head of sales steering, distribution and business development of AMNSI, effective 16th December 2019. He reports to Mr Alain LEGRIX DE LA SALLE.

Nippon Steel nominees - Mr Katsuhiro MIYAMOTO, Mr Yoichi FURUTA, Mr Hideki OGAWA, Mr Taisuke NOMURA

In addition, Nippon Steel has separately announced the following additional appointements

Mr Shinji TANIMOTO Deputy Project Leader, India Steel Making Project, Global Business Development Sector, Cooperating with Executive Vice President A. Migita on Environment.

Source : Strategic Research Institute

voda 18 december 2019 16:27

Chinese Crude Steel Output on Track for Record 980 Million Tonnes in 2019

China’s National Bureau of Statistics announced that crude steel output fell to 80.29 million tonnes in November 2019, amid relaxed production cut measures, down by 1.5% MoM from 81.52 million tonnes but up by 4.4% YoY from 77.62 million tonnes in November 2018, when pollution control curbs on steel production hit home. Chinese crude steel output in the first 11 months of the year hit 899.51 million tonnes, up by 7% YoY putting China on track to close 2019 at around 980 million tonnes, 50 million tonnes higher than 928 million tonnes in 2018.

Fitch rating agency has recently suggested that “Chinese steel demand will be supported by higher infrastructure investment by the government. But a slowdown in residential property construction and an overall decrease in total steelmaking capacity will result in reduction in China's annual apparent steel consumption.”

Source : Strategic Research Institute

voda 18 december 2019 16:28

Posco Achieves Strong Operating Profit for 9 Consecutive Quarters

As of the end of the third quarter of 2019, POSCO has achieved operating profit of more than 1 trillion won for nine consecutive quarters. POSCO announced in October that in the third quarter, consolidated operating income was 15,988.28 billion won, operating profit was 1,099.8 billion won, and net profit was 498.6 billion won. Although the operating profit for the quarter decreased compared with the previous quarter, the overall performance remained unchanged, mainly due to the better performance of POSCO International's natural gas well business in Myanmar and the energy gains from improved construction progress and rising electricity prices of POSCO E & C

POSCO is known for maintaining a stable financial structure. Despite the increase in corporate bonds and loans, the overall debt ratio remained at 65.7%.

Source : Strategic Research Institute

voda 18 december 2019 16:29

V&A Capital Acquires Federal Steel Supply

V&A Capital announced that it has partnered with the management team of Federal Steel Supply to acquire the company from its founders. Founded in 1979 and based in St Louis, MO with a distribution facility in Houston Texas, Federal Steel Supply is a leading value-added distributor of industrial piping, fittings, flanges and other related products for pressure sensitive applications. The Company services customers who operate in a variety of industries such as food processing, oil & gas, power generation, telecommunication, and other end-markets. These customers value the Company's ability to respond rapidly to their piping needs, particularly for less common grades of carbon or alloy pipe, as well as its ability to provide value added services such as cutting, machining, testing and other services.

Webster Business Credit Corporation, a subsidiary of Webster Bank N.A., provided the financing to support the acquisition and Loeb & Loeb LLP acted as legal counsel to V&A Capital.

Source : Strategic Research Institute

voda 18 december 2019 16:30

Casting Stability increases at US Steel Gary Works with Danieli Q-Level+ and Hy-Power

After successful installation and commissioning of Danieli mould-level and stopper-rod control packages on four strands, US Steel proceeds to revamp a third slab caster. At the end of 2016 US Steel entrusted Danieli to replace the stopper-rod control system together with the mould-level control sensors and automation at its Great Lakes Works and Gary Works. Both plants, which operate one double-strand slab caster and two single-strand slab casters, A-Line and B-Line, improved the casting process stability after the installation of the advanced Danieli technologies: HY-POWER® electrohydraulic stopper actuator to regulate the steel flow, eddy-current double-coil sensor for a precise measurement of the mould level, and Q-Level+ automation package for a fine control of the entire system. Reliability and performance achieved by the newly installed systems helped to achieve the required strip quality goals.

Minimum shutdown time and a non-invasive installation proved the practical and beneficial effects of this revamping method.

USS confirmed once again its trust in Danieli, deciding to convert the C Line caster at the Gary Works to the same flow technology.

Source : Strategic Research Institute

voda 18 december 2019 16:32

SSAB Americas to Produce First Fossil-Free Steel in North America

Steel manufacturer SSAB Americas has announced the intention for its operations to produce steel using a completely fossil-free process beginning in 2026. With this target, SSAB Americas will be the first North American supplier of fossil-free steel. SSAB Americas’ mill in Montpelier in Iowa is on track to be powered completely by renewable energy by 2022. SSAB’s US mills utilize scrap-based electric arc furnace technology, using almost 100% recycled materials in their production process. In addition to scrap, SSAB Iowa and SSAB Alabama, located just outside of Mobile, intend to utilize fossil-free sponge iron produced in Sweden as part of the Hybrit project in the coming years, enabling the eventual production of fossil-free steel. (Hybrit is a joint project led by SSAB in collaboration with Swedish mining company LKAB and Swedish Energy company Vattenfall.) SSAB’s advanced high-strength steels, such as its Hardox and Strenx premium brands, will be further enhanced by a fossil-free production process.

SSAB Iowa partners with MidAmerican Energy, a subsidiary of Berkshire Hathaway Energy, for its renewable power, which is generated primarily by wind farms in Iowa. The high-quality steel produced by SSAB is used to build needed energy infrastructure such as wind towers and bridges, as well as heavy construction equipment. The new steel produced is also 100% recyclable. MidAmerican Energy’s GreenAdvantage® program verifies the annual production of energy delivered to its Iowa customers from clean, renewable sources as a percentage of total energy production. The Iowa Utilities Board, the state’s regulatory agency, verifies the percentage annually. MidAmerican Energy is on track to deliver renewable energy equal to 100% of energy used on an annual basis by 2021.

Source : Strategic Research Institute

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