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voda 8 juni 2020 12:56
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Supreme Court to Hear Plea against Pakistan Steel Mills
Sackings on June 9

Pakistani media reported that Pakistan’s Supreme Court is going to take up a petition on June 9 filed against the PTI led federal government recent decision to sack all the employees of Pakistan Steel Mills. Chief Justice of Pakistan Gulzar Ahmed constituted a three-judge bench to hear the petition. The bench, headed by the CJ, will also comprise Justice Ijazul Ahsan and Justice Mazahar Ali Akbar Naqvi. The SC Registrar Office also issued notices to all respondents including the PSM management.

The Economic Coordination Committee of the Cabinet last week decided to terminate all 9,350 PSM employees. The ECC also approved to give due monetary benefits to the employees along with one-month salary that will cost the exchequer PKR 18 billion to PKR 19.7 billion. On an average, every sacked employee will receive PKR 2.3 million.

The process to take the PSM,with 1.1 million tonnes production capacity, out of the public sector began in June 2015 when the then PML-N government decided to stop production. Since then, the federal government has been paying salaries to the employees but the mill has remained closed. After coming into power, the PTI government decided to revive the PSM and struck its name off the privatization list. But it again added the PSM in the privatization programme last year. Neither the PSM could be privatized nor the government tried to revive it.

Source : Strategic Research Institute
voda 8 juni 2020 12:57
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US Supreme Court Rules in GE Energy Power & Outokumpu Stainless USA Arbitration Case

US Supreme Court passed a decision in GE Energy Power Conversion France SAS vs Outokumpu Stainless USA LLC, holding that the Convention on the Recognition and Enforcement of Foreign Arbitral Awards does not conflict with domestic equitable estoppel doctrines that allow nonsignatories to enforce arbitration agreements. The Supreme Court concluding that the Convention does not conflict with domestic contract law allowing nonsignatories to an arbitration agreement to arbitrate disputes arising under that agreement. The Court observed that the Federal Arbitration Act permits courts to apply state-law doctrines relating to the enforcement of contracts, and that the Court had in fact previously recognized that the FAA allowed nonsignatories to rely on state-law equitable estoppel doctrines to enforce an arbitration agreement. The Court concluded that nothing in the text of the Convention can be read to prohibit the application of domestic equitable estoppel doctrines indeed, the Court observed that far from displacing domestic law, the provisions of the Convention contemplate the use of domestic doctrines to fill gaps in the Convention. And nothing in the drafting history of the Convention called for a different conclusion.

ThyssenKrupp entered into contracts with FL Industries to build a manufacturing plant in Alabama. Outokumpu later acquired ownership of the plant from ThyssenKrupp. Each of the contracts contained an identical arbitration clause requiring all disputes between the parties in connection with the contract to be submitted to arbitration. FL Industries then entered into a subcontract with GE Energy to manufacture motors for FL Industries to install in the plant that FL Industries was building.

Outokumpu alleged that motors failed and caused damage. It sued GE Energy in federal court. GE Energy moved to dismiss the lawsuit and compel arbitration, relying on the arbitration clauses in the main contracts between ThyssenKrupp and FL Industries, even though GE Energy was not a signatory to those contracts. GE argued that it was entitled to enforce the arbitration agreements under equitable estoppel. The district court granted GE Energy’s motion to compel arbitration, but the Eleventh Circuit reversed, holding that the Convention is a multilateral treaty that focuses on international arbitration and allows enforcement of an arbitration agreement only by the parties that actually signed the agreement. Because GE Energy did not sign the arbitration agreement, it could not enforce the agreement under the Convention. The court also held that GE Energy could not rely on state-law estoppel doctrines to enforce the arbitration agreements because that would conflict with the Convention.

Source : Strategic Research Institute
voda 8 juni 2020 13:04
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ArcelorMittal Brasil E-Commerce Sales Grow 38% during Quarantine

E-commerce has achieved annual growth of around 20 percent in Brazil, but the quarantine caused a different phenomenon: the search for new products in this channel. According to the McKinsey consultancy, the total share of electronic commerce in Brazilian companies increased 62 percent post-pandemic. Even in sectors where this modality was not offered to the market, such as steel, ArcelorMittal, which has a pioneering online store for the purchase of steel, had a 38 percent increase in online sales in March and April compared to the months prior to the covid-19 pandemic. The migration has a direct explanation for the closing of the steelmaker's physical stores throughout Brazil. ArcelorMittal's e-commerce is a complete or end-to-end online operation, which integrates online store, inventory and distribution.

ArcelorMittal's internet sales channel offers more than 500 steel products and solutions for civil construction, including rebar, wire, plates, profiles, screens, trusses and others.

Source : Strategic Research Institute
voda 8 juni 2020 13:05
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Moody's Assigns Baa3 Rating to SDI's Notes, Affirms All Ratings & Outlook Stable

Moody's Investors Service assigned a Baa3 senior unsecured rating to Steel Dynamics Inc's new notes being issued in two tranches. The notes will be issued under the company's Well-Known Seasoned Issuer shelf registration rated (P)Baa3 for senior unsecured debt securities. At the same time Moody's affirmed the Baa3 rating on all senior unsecured notes, the guarantees on existing notes were released upon SDI being rated investment grade at both rating agencies. The outlook remains stable. Proceeds will be used to redeem the 5.25% senior unsecured notes maturing April 15, 2023, the 5.5% senior unsecured notes maturing October 1, 2024 and for general corporate purposes.

Moody's Senior Vice President and lead analyst for SDI Carol Cowan said "The new notes issuance is debt neutral and will improve SDI's maturity profile, reduce the tower due in 2024 and result in interest savings. The affirmation of the Baa3 senior unsecured ratings reflects SDI's excellent liquidity position, which will comfortably cover expected negative free cash flow in 2020, strong operating footprint, diverse end market exposure and solid metrics coming into the current adverse operating environment. These attributes well position the company to return to stronger performance in 2021.”

Assignments:
..Issuer: Steel Dynamics, Inc.
....Senior Unsecured Regular Bond/Debenture , Assigned Baa3

Affirmations:
..Issuer: Steel Dynamics, Inc.
....Senior Unsecured Regular Bond/Debenture, Affirmed Baa3
....Senior Unsecured Shelf , Affirmed (P)Baa3

Outlook Actions:
..Issuer: Steel Dynamics, Inc.
....Outlook, Remains Stable

Source : Strategic Research Institute
voda 8 juni 2020 17:46
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Europese staalbedrijven vrezen voortbestaan door dumping

FONDS KOERS VERSCHIL VERSCHIL % BEURS
Aperam
27,10 -0,02 -0,07 % Euronext Amsterdam
ArcelorMittal
10,298 -0,156 -1,49 % Euronext Amsterdam
Bekaert
20,16 0,16 0,80 % Euronext Brussel

(ABM FN-Dow Jones) Het voortbestaan van de Europese staalindustrie komt in gevaar als Brussel niet harder ingrijpt om het dumpen van staal tegen te gaan. Hiervoor waarschuwden topbestuurders van diverse Europese staalbedrijven, verenigd in brancheorganisatie Eurofer, maandag.

De Europese Commissie heeft voorgesteld enkele veranderingen door te voeren met betrekking tot het importeren van staal per 1 juli.

De Europese staalindustrie is niet te spreken over dit voorstel en is van mening dat de flinke vraaguitval door de coronacrisis niet is meegenomen in het besluit. "Het risico op een overvloed van goedkoop staal, staat het herstel en zelfs het overleven van de Europese staalindustrie in de weg", waarschuwden topbestuurders van onder meer ArcelorMittal, Tata Steel Europe en Salzgitter.

Het huidige voorstel van de Europese Commissie kan volgens de bestuurders ertoe leiden dat geïmporteerd staal een nog groter marktaandeel verovert, terwijl een groot deel van de Europese productiecapaciteit onbenut blijft.

De bestuurders willen dat Brussel met een beter voorstel komt waarin ook rekening wordt gehouden met de daadwerkelijk ontwikkeling van de marktvraag. Daarbij moet de Europese Commissie meer rekening houden met de schade die de coronacrisis heeft aangericht. De vraag naar staal is sinds de corona-uitbraak in maart volgens Eurofer met 50 procent teruggevallen. Dit zou vertaald moeten worden naar lagere quota, aldus de brancheorganisatie.

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

© Copyright ABM Financial News B.V. All rights reserved.
voda 9 juni 2020 10:08
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Staalindustrie wil importquotua EU omlaag

Gepubliceerd op 8 juni 2020 22:48 | Views: 2.264

ArcelorMittal 09:50
9,75 -0,54 (-5,28%)

BRUSSEL (AFN/BLOOMBERG) - De Europese staalindustrie vindt dat de Europese Commissie de hoeveelheid staal die van buiten Europa mag worden ingevoerd verder terug moet brengen. Dat zegt brancheorganisatie Eurofer als reactie op voorstellen van de commissie om die quota aan te passen. Volgens de staalmaker houdt het EU-bestuur te weinig rekening met de afgenomen vraag als gevolg van het coronavirus.

De Europese Commissie stelde de importquota in om te voorkomen dat Europa overspoeld zou worden met goedkoop staal nadat de Verenigde Staten enkelen jaren geleden importheffingen op staal en aluminium instelde. Nu moeten die quota vernieuwd worden vanwege het coronavirus en de zich herstellende markt, maar de hoeveelheid staal en aluminium die de EU in mag, wordt niet teruggebracht.

Volgens Eurofer en de topmannen van Europese staalbedrijven gaan de voorstellen van de commissie daarom niet ver genoeg. "Het overleven van de Europese staalindustrie is verder in gevaar gebracht omdat het voorstel van de commissie geen rekening houdt met sterk teruggelopen vraag naar staal als gevolg van de coronapandemie." Volgens Eurofer kunnen landen als China, Indonesië, Rusland en India waar de staalproductie weer op peil is of nog grote voorraden marktaandeel afsnoepen van de Europese fabrikanten nu hier de productie nog deels stil ligt.
voda 10 juni 2020 09:28
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Italian Government Rejects ArcelorMittal Plan for Ilva

The Italian government has rejected the new industrial plan presented by ArcelorMittal Italia for the Taranto-based steelmaker formerly known as llva. Economic development minister Stefano Patuanelli said "The proposal presented by ArcelorMittal is unacceptable because it impacts both employment levels and the investment plan, extending the time period excessively. Over time, we understood that the abolition of the criminal immunity was a pretext to return the plants. The Taranto factory cannot be used like an accordion, that is, when things are good it produces and when things are not good production is reduced - also because ArcelorMittal does not have Taranto as its only plant.

Italian economy minister Roberto Gualtieri judged the plan to be inadequate. He said "It is evident that Covid exists and it is therefore legitimate, compared to a previously defined schedule, to take into account such an event: but it is equally true that this plan goes far beyond a simple adaptation of the previous plan to the circumstances. Furthermore, the new plan does not take into account the fact that at European and national level there is a strong push for investments that will create steel demand. Italian government is willing to take into account the impact of Covid-19 in putting its proposal on the table. However, we are talking about something very far from what has presented to us.”

The new industrial plan presented by ArcelorMittal provides for approximately 5,000 redundancies in total and a production of 6 million tonnesof steel per year at least until 2025. In addition, it entails the postponement of environmental investments and the request for funding and state resources. The company explained all this by claiming a dramatic worsening of prospects following the Covid-19 emergency.

Source : Strategic Research Institute
voda 10 juni 2020 09:28
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Indian Steel Stilled – Crisil Survey

The extended lockdown to contain the Covid-19 pandemic has dealt a telling blow to the Indian steel industry. With construction and manufacturing brought to a standstill and return to normalcy a distant proposition, the industry’s prospects have dimmed in line with the economy at large. CRISIL Research conducted a focused survey of senior management teams of major steel companies and industry experts to gauge the extent of damage to the sector and glean a sense of what lies ahead. The responses indicate a revival in demand is more than a quarter away. The survey has, however, helped understand how the industry is coping with the challenging investment climate, addressing risks and pivoting strategies in the near term.

Key takeaways

Steel manufacturers are focussing on managing liquidity and cash flows in the near term to tide over an estimated contraction of 60-65% demand in the first quarter of fiscal 2021

75% of respondents indicate extending support through incentives and extended credit cycle to MSME and downstream sales channel players, to ensure their business continuity

More than 35% of industry respondents anticipate a demand contraction of over 15% for the fiscal, with the free fall arrested gradually. Indeed, 60% of the respondents expect demand to recover in third quarter

The anticipated demand destruction has resulted in steelmakers taking a cautionary stance towards capital expenditure, with more than 75% respondents planning to either delay or altogether shelve their plans

The respondents believe incremental government support towards facilitating exports, along with tax and logistics concessions, can help them tide over this crisis.

Source : Strategic Research Institute
voda 10 juni 2020 09:28
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SAIL Bhilai Steel Plant Exporting Slabs & Billets

Steel Authority of India Limited’s Bhilai Steel Plant is exporting slabs to China. The plant said that the export order for 30,000 tonnes of cast slabs of Grade JS-SS400 was received on May 21. In the month of May 2020 itself, BSP’s Steel Melting Shop-2 produced 10,232 tonnes of slabs for export. Production, loading and despatch of cast slabs continue in the month of June 2020. So far, about 24,000 tonnes of this export-grade has already been produced. Depending on the availability of rakes from Indian Railways because of restrictions of movement in Vizag port under the present circumstances of Corona threat, about 8250 tonnes of cast slabs have so far been dispatched in 129 wagons.

In addition to this, Bhilai Steel Plant is also exporting billets produced in Steel Melting Shop 3 to China and other Asian countries. After fulfilling two orders of 20,000 tonne each of 150x150 mm size billets from China in the months of April and May 2020, despatches against fresh order of 20,000 tones of 150x150 mm size billets had begun. So far about 44,500 tonnes of 150x150 mm size billets have been exported to China.

Also, SAIL-BSP had received two new orders of 10,000 tonnes each and another order of 5000 tonnes of 105x105 mm size cast billets produced in SMS-3. Despatches against the first of the two orders for 105x105 mm size cast billets were begun on May 21. So far, about 16,200 tonnes of the 105x105 mm size cast billets have been exported. Despatches are being affected due to availability of rakes from Indian Railways because of restrictions of movement in Vizag port under the present circumstances of Corona threat.

Source : Strategic Research Institute
voda 10 juni 2020 09:29
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GFG Alliance Reviewing Whyalla Steelworks Overhaul Plans

Australian Financial Review reported that British billionaire Sanjeev Gupta has started a review of the Whyalla steelworks to strip out costs, as he prepares to replace the ageing blast furnace with a AUD 1 billion-plus electric arc furnace and modern steel-making facility by 2024. He wants the existing plant to run as leanly as possible for the next three years while the new one is built to replace it, in the first of GFG's green steel transformations of outdated steel-making facilities. The COVID-19 pandemic has triggered an overhaul of Mr Gupta's plans for the steelworks, which has been battling against financial losses in a weaker economy.

Mr Gupta's GFG Alliance bought the failed Arrium group, including the Whyalla steelworks and a nearby iron ore mine in the Middleback Ranges in northern South Australia, for AUD 700 million in 2017. The Arrium businesses had been under the control of administrators KordaMentha for 16 months, after collapsing in April 2016. The buyout of the Whyalla steelworks and the other Arrium assets saved about 3000 jobs in the South Australian township, which has a population of about 22,000.

Source : Strategic Research Institute
voda 10 juni 2020 09:29
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Cleveland-Cliffs to Restart HBI Plant Construction and Tilden Mining Operations

Cleveland-Cliffs Inc announced that it will be resuming construction of its Hot-Briquetted Iron plant in Toledo in Ohio, and accelerating the restart of its Tilden mining operations in Michigan. The construction of the Toledo HBI plant was temporarily shut down on March 20, 2020, and the Company has now begun the process of remobilizing the workforce to complete the project. Due to mandatory social distancing and other newly implemented safety related measures limiting the number of workers allowed to be present simultaneously on the job, construction is now expected to be completed in the fourth quarter of this year.

The Tilden mine primarily supplies the Company’s own AK Steel facilities in Middletown, Ohio and Dearborn, Michigan. The mine was idled in mid-April, with a restart previously expected in July. The company now plans to restart Tilden later this month. The earlier restart of Tilden comes in response to a faster improvement in steel demand from AK Steel’s clients than initially anticipated, particularly in the automotive sector.

The Company has also already restarted numerous other previously idled facilities across the footprint, including Precision Partners, AK Tube, Mansfield Works, and the Dearborn downstream facilities, including the PLTCM and the galvanizing line.

Source : Strategic Research Institute
voda 10 juni 2020 09:38
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TISCO Trusts Fives with Entry to High Permeability Silicon Steel Market

China’s leading stainless steel producer Taiyuan Iron and Steel (Group) Co has entrusted Fives with the design and supply of two new silicon steel lines for very demanding applications. Fives is chosen to design, supply and commission two complete lines, namely: decarburizing and coating line and flattening and coating line, each with 80,000 tonnes of annual capacity. The lines will process steel with less than 3.5% of silicon content, with strip thickness between 0.15-0.5mm at the full strip width of 1,280mm.

The project, which is scheduled for completion in the second half of 2021, includes

Engineering and project management to enable TISCO to set up its own silicon production process

Complete terminal equipment, comprising entry and exit coil handling sections, accumulators and strip transportation

Annealing furnaces, which are key process equipment for both the DCL and FCL

A longitudinal inductor for the thermal section of the DCL

Surface treatment, including a degreasing section and a magnesium circulation system for DCL, and cleaning & pickling sections for FCL

Source : Strategic Research Institute
voda 10 juni 2020 09:39
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US April Steel Shipments Down 31.5% from April 2019

The American Iron and Steel Institute reported that for the month of April 2020, U.S. steel mills shipped 5,623,229 net tons, a 27.9 percent decrease from the 7,802,192 net tons shipped in the previous month, March 2020, and a 31.5 percent decrease from the 8,210,425 net tons shipped in April 2019. Shipments year-to-date in 2020 are 29,732,832 net tons, an 8.1 percent decrease vs 2019 shipments of 32,362,476 for four months.

A comparison of April shipments to the previous month of March shows the following changes: cold rolled sheet, down 29 percent, hot rolled sheet, down 31 percent and hot dipped galvanized sheet and strip, down 35 percent.

Source : Strategic Research Institute
voda 10 juni 2020 09:40
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Government Finds Tax Evasion by ArcelorMittal Prijedor

Vijesti.ba news portal reported tat ArcelorMittal Prijedor has admitted tax evasion with transfer prices and paid all determined obligations to the Tax Administration of Republika Srpska PURS. The complete documentation in this case of tax evasion was submitted to the Republic of Srpska Ministry of Interior. Study of Transfer Prices of ArcelorMittal, which was commissioned by PURS, was completed at the end of last year and showed that it had transfer prices with two related companies, which do not correspond to the market, which damaged the RS Budget for more than 3.3 million BAM. In the meantime, interest was calculated, so the debt of ArcelorMittal increased to 6.4 million BAM.

This was also confirmed for Capital by the Tax Administration, which, after it was established that the transfer prices did not correspond to the market ones, determined by the control that the income tax would be calculated for the period 2010-2013 year amounts to a total of 6.4 million BAM with interest.

ArcelorMittal Prijedor is an iron ore mine located in the northwest of Bosnia and Herzegovina, which mainly supplies ArcelorMittal’s European subsidiaries. Currently, mining operations are performed in the open-pit Buvac, Omarska, near Prijedor. Exploatation in Jezero the open-pit was completed in June 2009, with the operations continued in the Buvac mine immediately afterwards. Annual production stands at the level of 1.5 to 2.1 million tonnes of iron ore concentrate, and the company currently employs around 800 people. ArcelorMittal Prijedor is a joint venture company established by two founders, ArcelorMittal Holdings and RZR Ljubija JSC Prijedor, with ArcelorMittal Holdings being a majority owner with a 51% share.

Source : Strategic Research Institute
voda 10 juni 2020 09:40
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POSCO Furloughs Staff as COVID19 Hits Demand

Korean media reported that POSCO has decided to put some workers on paid leave as it halts production lines due to ebbing business caused by the coronavirus epidemic. Workers on paid leave will receive 70 percent of their monthly wages and POSCO said it is not considering laying off staff. POSCO did not mention which production lines would be halted, but industry watchers believe they are cold-rolled steel and plating lines since they supply products to automakers and home appliance manufacturers.

It has also delayed restarting a blast furnace in Gwangyang, South Jeolla Province originally planned for May following repair and maintenance work.

The steel industry is reeling as main consumers like automakers, shipbuilders and builders have been hit hard by the epidemic.

Source : Strategic Research Institute
voda 10 juni 2020 09:41
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European Steel Industry Captains Demand Revamp of Import Controls

The European Union steel industry lashed out at the EU’s trade authority for failing to slash import quotas in a planned revamp of them, saying producers in the bloc risk going bust. The European Steel Association and chief executive officers of EU-based manufacturers took aim at the bloc’s proposed changes to the administration of import controls introduced two years ago. They said “The European steel industry’s survival is at further, serious risk because the Commission’s steel safeguard review proposal does not consider the sharp collapse in demand following the COVID pandemic. The tariff-free quota should reflect EU steel demand. The European steel sector is deeply disappointed that the Commission and many EU governments have not yet decided to consider this. Steel demand has fallen by 50% since the start of the COVID-19 pandemic in March. Our industry has had to cut production sharply to adapt to these changed circumstances, with 40% of the EU steel workforce laid-off or having to work part-time. Meanwhile, countries such as China, India, Indonesia and Russia have not rested: they continued, or are restoring, steel production and stockpiling. The imminent risk of cheap steel offers flooding the market would hamper our recovery and the survival of one of Europe’s strategic industries – one that sustains 2.6 million direct and indirect jobs in the EU. The current proposal could massively boost the market share of imports while a huge part of EU production capacity sits idle. The safeguard review process does allow changed circumstances to be addressed, such as those caused by a severely negative impact on the economy and markets as a result of the pandemic.”

They said “We therefore urge the Commission and Member States to improve the proposal and turn it into a crisis-oriented review, effectively safeguarding the European steel industry. We request a tariff-free quota size that reflects actual market conditions. They should make use of the ability to adapt the measures because of ‘changed circumstances’. A lack of interpretation and political will only play into the hands of steel exporters to the EU that are heavily supported by their governments. The import quotas should be reduced considerably, and the transfer of unused quotas to subsequent quarters and the access to the residual quotas for countries with their own quotas prevented.”

Geert Van Poelvoorde CEO ArcelorMittal Europe – Flat Products & President of EUROFER
Mario Caldonazzo CEO Arvedi & Vice-President Federacciai
Klaus Keysberg Chairman of the Executive Board of thyssenkrupp Steel Europe AG
Francesc Rubiralta Rubio Chairman & CEO CELSA Group
Timoteo Di Maulo CEO Aperam SA
Olavi Huhtala CEO SSAB Europe
Tim Hartmann CEO Dillinger/Saarstahl
James E Bruno President US Steel Kosice
Jan Czudek CEO Trinecke Zelezarny
Bernardo Velazquez Herreros President UNESID & CEO Acerinox
Markus Ritter CEO Marienhütte Stahl & Walzwerk
Jerzy Kozicz Chairman of Management Board CMC Poland
Dmitrij Scuka CEO & Chairman of the Board Vitkovice Steel
Vladimir Klocok Chairman of the BoD OFZ, j.s.c. Istebne
Stéphane Delpeyroux President A3M, Alliance des Minerais, Minéraux et Métaux
Philippe Coigné Directeur Général, Groupement de la Sidérurgie
Vassilios Goumas CEO Hellenic Halyvourgia SA
Michele Della Briotta President Europe, Tenaris
Henrik Adam CEO Tata Steel Europe Ltd
Heinz Jörg Fuhrmann CEO Salzgitter AG
Lorenzo Riva CEO Riva Stahl GmbH – RIVA Group
Hubert Zajicek CEO voestalpine Steel Division
Heikki Malinen President & CEO Outokumpu Oy
José Enrique Freire Arteta President MEGASA Group
Roland Junck President and interim CEO LIBERTY Steel Group Europe
Hans Jürgen Kerkhoff President Wirtschaftsvereinigung Stahl
Nicos I. Georgakellos President Hellenic Steelmakers Union
Ionel Bors President UniRomSider
Anton Petrov Chairman of the Board Bulgarian Association of the Metallurgical Industry
Stefan Dzienniak President of the Board Polish Steel Association
Kimmo Järvinen Managing Director Metallinjalostajat
Daniel Urban Executive Director Ocelarska Unie Steel Union
Bo-Erik Pers Managing Director Jernkontoret
Roman Stiftner Managing Director Fachverband Bergwerke & Stahl
Milan Vesely President Metallurgy, Mining and Geology Association of Slovakia
Frank Koch CEO Georgsmarienhütte Holding GmbH
Axel Eggert Director General EUROFER

Source : Strategic Research Institute
voda 10 juni 2020 09:42
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Indian Steel Demand to shrink by 20% in 2020-21 - ICRA

Ratings agency ICRA said its latest sector report said that India’s steel demand is estimated to contract by more than 20% in FY 2021, resulting in a sequential contraction in operating profit margins across the industry by nearly 300 basis points during the year. It said Weaker margins, along with reduced domestic deliveries are expected to deliver a twin impact on absolute earnings of steelmakers in the current fiscal This would significantly weaken the industry’s credit metrics, with total debt-to-operating profits being likely to increase to an elevated level of around 7.0 times from an estimated 4.3 times in FY2020. This would closely resemble the industry’s performance during FY2017, when it was gradually recovering from the effects of the metals meltdown in FY2016.”

The ICRA note said the silver lining for the blast furnace operators in the absence of domestic demand was exports, the share of which in total finished steel production stood at an all-time high of 28% in April 2020. However, in absolute terms, finished steel exports remained low at 0.43 million tonne in April 2020 and reported a 25% minth on month and 16% year on year decline.

Source : Strategic Research Institute
voda 10 juni 2020 09:47
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China Steel Exports-Import & Iron Ore Imports in May

China’s General Administration of Customs showed that China’s steel exports totalled 4.4 million tonnes, down from 6.3 million tonnes for April. Over January-May, China’s steel exports declined by 14% on year to stay below 30 million tonnes. China’s steel exports had surged in March and April, mainly to fulfill the deals signed in the prior couple of months, as economic activities and logistics had been seriously disrupted by the COVID-19 outbreak over late-January to early March across China, forcing Chinese steel suppliers to find buyers in the overseas market to ease the pressure from the piling inventories

For May, China’s steel imports totalled 1.28 million tonnes, up from 1 million tonnes in April. China’s steel imports rose more substantially than the 7.4% on-year increase for the first four months, approximating 5.5 million tonnes over January-May, as the country has become a potential destination for steel exports starting March when the country has gradually recovered from the virus outbreak while many other countries in the worlds have been hit hard by the virus, and their economies had stalled.

In May China imported 87.0 million tonnes of iron ore, up 3.9 percent year on year but down 9.1 percent month on month. Iron ore imports in China increased by 5.1 percent year on year to 445.3 million toesn in the January-May period of the current year, with this year-on-year rise 0.3 percentage points slower than that recorded in the first four months of the year

Source : Strategic Research Institute
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SAIL Lodhi Road Corporate Office Reopens

As per a report in the Statesman, Steel Authority of India Limited resumed operation on Monday at its corporate office which was closed last week after some employees were tested positive for COVID-19. Extensive fumigation and sanitization were carried out at the office premise with the assistance of a Government agency along with other supporting facilities and it is being done in a sustained manner. The Company is taking all necessary steps to provide extensive health care assistance to its employees while keeping their morale high and positive to fight the challenge together.

Steel Authority of India Limited has collaborated with Max Healthcare for providing end to end healthcare for its Corporate Office employees and their dependents affected by COVID, after few employees were tested Corona positive earlier last week. Through this collaboration, the Company aims to facilitate in getting treatment of its COVID affected asymptomatic employees & dependents and those requiring further medical care including hospitalizations. Max Healthcare will extend their professional expertise in managing Corona positive cases reported in SAIL Corporate Office and in dealing with future necessities, if required.

SAIL has arranged for an Isolation Care Home package in collaboration with Max Healthcare Institute for this. This package is primarily designed for remote monitoring care at home for managing the COVID positive patients who are asymptomatic or having mild symptoms or for cases which needs further assistance. The package consists of key elements for managing home quarantine of COVID positive cases of CO employees & dependents who are asymptomatic or having mild symptoms. It has essential medical kit, daily vital monitoring with trained nurses on phone call, tele review with doctors and home delivery of medications among other facilities. In case of requirement, necessary hospitalization facilities will also be organized through Max Healthcare.

Source : Strategic Research Institute
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NLMK & Grand Line Bring Joint Premium Product Offering to Market

NLMK Group’s flagship production facility NLMK Lipetsk and Grand Line, the Russian producer of construction materials, have set up mass production of Satin Matt and PurLite Matt premium-class pre-painted steel products. NLMK will supply more than 2000 tonnes of these steel products to Grand Line over the course of the year for onward processing. The products NLMK and Grand Line are manufacturing are designed for making construction materials such as profiled sheets, metal roof tiles and façade cladding. They are fully compliant with European and Russian quality standards, and boast superior use properties for consumers thanks to decorative surface texture and high performance characteristics. This includes greater corrosion and UV protection and higher ductility for complex moulding. The usable lifespan of products made from these steels is 1.5-2 times longer than that of standard quality steel.

Satin Matt: cold-rolled hot-dip galvanized steel. Base thickness: 0.5 mm. Zinc mass: 180 g/m2. Polyester coating thickness: 35 µm.

PurLite Matt: cold-rolled hot-dip galvanized steel. Base thickness: 0.5 mm. Zinc mass: 180 g/m2. Polyurethane coating thickness: 35 µm.

NLMK and Grand Line products are available in matt colour shades: Dark Brown, Chocolate, Black, Matterhorn, and Terracotta. The guarantee period of the decorative finishes ranges from 12 to 18 years, and from 28 to 30 years for corrosion protection, depending on the category of the coating, the climate and the conditions of usage.

Source : Strategic Research Institute
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