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Arcelor Mittal « Terug naar discussie overzicht

Nieuws en info hier plaatsen (deel 4)

35.173 Posts, Pagina: « 1 2 3 4 5 6 ... 1184 1185 1186 1187 1188 1189 1190 1191 1192 1193 1194 ... 1755 1756 1757 1758 1759 » | Laatste

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voda 26 juni 2020 14:17

Lenders Give 2 Weeks to JSW Steel to pay for Bhushan Power & Steel

Financial Express reported that lenders to Bhushan Power and Steel have intimated to JSW Steel that they would take appropriate steps if it does not implement the resolution plan for BPSL in two weeks, among them the invoking of guarantees. Persons close to the development told FE that a letter dated June 20 was sent to JSW Steel as the company is yet to pay the iNr 19,350 crore, as per the court-approved resolution plan. The letter reads: “If the resolution plan is not implemented within 2 weeks of this letter we shall take steps, including but not limited to Section 74 of insolvency & bankruptcy code.”

The letter said: “We have been assured by you time and again in various meetings that the debt financing for the implementation of the resolution plan is close to completion; however, even at this late stage, we note that no binding executed loan documents have been provided to us which would evidence such debt financing, and now we believe that no such debt financing agreements have actually been signed as of date, and therefore JSW has not completed the funding agreements for implementation of the resolution plan, and is not in a situation to draw down funds.”

Responding to an email sent by FE, JSW Steel official said “The matter is subjudice before the SC as all the parties in the last hearing were asked to file their submissions within two weeks in response to application filed by JSW Steel. Pending adjudication of appeals and CoC application before SC, the plan is incapable of implementation more so when the assets of BPSL are continued to be attached by enforcement directorate.”

JSW Steel had earlier missed the deadline of March 17 to make the payment of INR 19,350 crore as per approval from National Company Law Appellate Tribunal.

Source : Strategic Research Institute

voda 26 juni 2020 14:18

SAIL to Increase Domestic Sourcing of Refractory Materials

Steel Authority of India Limited recently organized a webinar through its IISCO Steel Plant, Burnpur with domestic Refractories manufactures from various regions to explore the opportunities for enhancing domestically manufactured refractory usage in integrated steel plants both in terms of quality and quantity. A substantial quantity of imported refractory is currently used in the steel plant operations in India. This webinar was aimed at shifting the focus from imported refractory to domestically manufactured refractory. Keeping this in view, the webinar titled ‘Refractories in Integrated Steel Plants: Opportunities and Challenges for Domestic Manufacturers’ was attended by all steel plants of SAIL as well as large number of domestic refractory manufacturers. Refractories are essential materials used by the steel industry in the internal linings of blast furnaces and converters used for steel making, in vessels for holding and transporting metals, in furnaces for heating steel before further processing etc.

In a bid to maximize domestically produced refractories, SAIL is taking several initiatives. The government’s thrust on Atmanirbhar Bharat is an opportunity for the domestic refractory manufacturers and can mutually benefit the domestic steel industry. During the webinar, it was stressed that this is an opportunity for domestic refractory manufacturers to cater to the domestic requirements. For this, they will have ample opportunity to invest in R&D and develop alternate refractory products for which SAIL will give the platform for trial. In the webinar, the current & future requirements for refractory products and challenges faced by integrated steel plants in adopting indigenous refractory products were discussed at length. This platform was aimed at providing a mutual platform for exploring each other’s requirements so as to realize the vision of Atmanirbhar Bharat and promote the concept of ‘vocal for local’.

Source : Strategic Research Institute

voda 26 juni 2020 14:18

thyssenkrupp Steel Testing App for Tracking Push Barges

It’s around 240 kilometers by ship down the Rhine from Europoort Rotterdam to the iron and steel mill of thyssenkrupp Steel in Duisburg. The river plays an important part in the supply of raw materials to the mill and the direct route is a key locational advantage: up to 10,000 push barges supply the mill’s ports with iron ore, coal and other raw materials every year. Each of these over 75 meter long floating containers is capable of transporting up to 2,700 tons of raw materials. It’s a volume of traffic that needs to be well coordinated, because space at the thyssenkrupp ports of Walsum and Schwelgern is finite: only a limited number of barges can be parked or unloaded at the same time. As part of its digital logistics strategy, thyssenkrupp Steel is optimizing barge coordination with state-of-the-art sensor technology.

Logistics can sometimes only be planned with short lead times. Storms or poor visibility due to fog can cause delays, as can low Rhine water levels. Maintenance work on the blast furnaces can also temporarily reduce demand for raw materials. The result: sudden changes in barge traffic.

This is a complex operation because of the numerous functions that need to be notified of changes: from port planning to the blast furnace, from barge skippers to crane operators at the ports, from Rotterdam to Duisburg. For everything to run smoothly a lot of communication is required.

The most important tools for coordinating the more than 100 barges and various push boats along the Rhine and in the ports are large amounts of operating data, cameras and telephones. The logisticians wanted to simplify this. Together with IT, handling and storage logistics and raw materials coordination, they sought a solution that would give everyone involved an overview at all times. They came up with a system whereby every barge is now IoT-capable and equipped with a solar-powered GPS sensor. The GPS data are combined with information on orders and cargoes. The result is a digital map allowing all parties to keep track of every barge at all times, including information on tonnage, raw material cargo and port arrival time calculated with the aid of artificial intelligence. As a result, time and costs can be saved, for example, by sending a signal to ship’s masters on their way to Duisburg telling them to reduce their speed and fuel consumption when it’s clear they would have to wait outside the port anyway.

In the long term, tracking is set to provide a basis for further optimization and automation. Possibilities include evaluations of optimum port occupancy levels, the integration of forecast water level data or the inclusion of external ships in order to reduce mooring fees. The tracking of barges is a further step on the road to digital logistics being pursued by thyssenkrupp Steel as part of its digitization strategy.

Source : Strategic Research Institute

voda 26 juni 2020 14:19

Chilean Steel Producer CAP inks 15 Year Renewables PPA with Engie

Engie Energia Chile SA has signed an agreement to supply 100% renewable power to a unit of Chilean steel and mining giant Grupo CAP SA. Under the agreement, the Chilean subsidiary of France’s Engie SA will supply 420 GWh per year to power Compania Siderurgica Huachipato SA, also know as CAP Acero, located in Talcahuano in Biobio region. With this PPA, which will run for 15 years starting in 2021, Engie Chile will help CAP Acero's industrial plant to avoid the annual emission of approximately 2.5 million tonnes of carbon dioxide, equivalent to planting more than 386,000 trees.

In addition to this contract, CAP said it has an interest in maintaining a working relationship with Engie to consider several energy optimisation and efficiency projects in the future, it noted.

Source : Strategic Research Institute

voda 26 juni 2020 14:22

Usiminas Mecânica to Provide Services to Usiminas Mills Only

Brazil's largest flat steel producer, Usiminas is to restructure its capital goods and engineering subsidiary to serve its core business after five years of sustained losses and unsuccessful divestment attempts. Usiminas Mecânica will now focus on providing services to the parent company and its other subsidiaries and move away from external projects. The flats producer said UMSA has seen declining generation of cash flow over the past five years, and it isn't a core business of Usiminas. The Usiminas board of directors approved the plan on Wednesday June 24.

Existing contractual agreements will be honored.

Source : Strategic Research Institute

voda 26 juni 2020 14:24

Workforce Shortage hits Stainless Steel Utensil Industry in Bhayandar

Free Press Journal reported that with scores of migrant workers returning to their hometowns amid the nationwide lockdown that was imposed to contain the spread of the novel coronavirus, a massive shortage of manpower has gripped the industrial areas Mira Bhayandar near Mumbai, which reopened after a gap of almost three months. The worst affected are the hundreds of steel utensil manufacturing units. A small-scale unit owner said “Still fearing infection due to the alarming rise in the number of cases in the city, most of them are reluctant to return. Instead, they prefer to stay in their villages and engage themselves in farming or other odd-jobs to earn a living till normalcy returns. Left with no other option, we have started our factory with a skeletal workforce.”

Some migrants fear that the lockdown will be imposed again and they will once again be stranded with no means to earn their livelihood.

The steel industry has provided employment opportunities to around 50,000 skilled and unskilled workers, mostly migrants hailing from Uttar Pradesh, Bihar and Jharkhand. However, as per rough estimates provided by local trade unions, nearly 60% to 70% of the labour force employed in the twin-city has now left for their hometowns, creating a huge void for almost all manufacturing and buffing units.

Bhayandar industry mainly comprises more than 2,000 buffing units which caters to the polishing needs of the steel utensil manufacturers and export houses in the region. The workforce operates on a per piece-rate system, the remunerations of which are based on the number of units processed on a daily basis.

Source : Strategic Research Institute

Bijlage:

voda 26 juni 2020 15:10

Nieuwe stakingen aangekondigd bij Tata Steel

De toenaderingspoging van de vakbonden en de directie van Tata Steel is op niets uitgelopen. De directie heeft volgens de bonden meer tijd nodig om te reageren op hun eisen. En dus gaan de stakingen bij het staalbedrijf in IJmuiden, na een korte pauze, weer door. Dat melden vakbonden FNV en CNV vrijdagmiddag.

Na twee weken van acties werden de stakingen woensdag onderbroken. Donderdag voerden de vakbond en Nederlandse directie een verkennend gesprek. Maar volgens FNV bestuurder Roel Berghuis komt daar tot dusver niets uit. 'Ze doen alleen vage toezeggingen en ze vragen om meer tijd. Wij gaan dus door met actievoeren.'

Geen concrete garanties
Onderhandelaar voor CNV Vakmensen, Peter Böeseken, vult aan: 'Helaas moeten we constateren dat we geen concreet zicht hebben op een oplossing. Dan zit er voor ons niets anders op dan doorgaan met actievoeren, tot de directie wèl concrete garanties kan geven.'

Twee weken geleden legden de werknemers in IJmuiden voor het eerst in 28 jaar het werk neer. Verschillende afdelingen volgden elkaar op, waaronder de ertsvoorbereiding en de onderzoeksafdeling.

Zelfstandigheid
De vakbond heeft met de leden een pakket met negen eisen opgesteld. Zo wil de bond een garantie dat tot 2026 geen gedwongen ontslagen vallen, dat geen onderdelen van Tata Steel Nederland worden verkocht en dat het bedrijf zelfstandig blijft opereren mocht het in een groter concern opgaan. Ook eist FNV een verklaring over het vertrek van de Nederlandse directievoorzitter.

De werknemers zijn bezorgd over de toekomst van het bedrijf. Er is een Europese reorganisatie afgekondigd om de winstgevendheid - ten midden van een sterk verslechterde staalmarkt - te verbeteren. De Nederlandse directie is de gesprekspartner van de vakbond, maar de reorganisatieplannen komen vanuit de Europese directie, waaronder ook IJmuiden valt. Tata Steel Nederland was niet bereikbaar voor commentaar.

fd.nl/ondernemen/1349282/nieuwe-staki...

voda 29 juni 2020 08:29

ArcelorMittal in de race voor Franse staalfabriek - media

FONDS KOERS VERSCHIL VERSCHIL % BEURS
ArcelorMittal
8,992 0,00 0,00 % Euronext Amsterdam

(ABM FN-Dow Jones) ArcelorMittal is samen met enkele andere staalbedrijven in de race voor een overname van een fabriek in het Franse Hayange. Dit schreef de Franse krant Le Figaro maandag.

Naast ArcelorMittal zou het volgens de krant gaan om British Steel, Liberty Steel, Greybull, Saarstahl en Jindal.

Er zou voor het einde van de zomer een besluit worden genomen over de toekomst van de fabriek. De krant meldt dat de Franse minister van Financiën het liefst een combinatie met Ascoval ziet, dat onderdeel is van Greybull.

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

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

voda 29 juni 2020 17:43

Verlies voor staalproducent Tata Steel

Gepubliceerd op 29 juni 2020 17:27 | Views: 208

ArcelorMittal 17:22
9,31 +0,32 (+3,53%)

MUMBAI (AFN) - Het Indiase staalbedrijf Tata Steel, het moederconcern van de staalfabriek in IJmuiden, heeft in zijn afgelopen kwartaal verlies geleden vanwege de moeizame marktomstandigheden in de staalindustrie door de coronacrisis. Het verlies kwam uit op circa 1 miljard roepies, omgerekend 11 miljoen euro.

Vanwege de virusuitbraak en de maatregelen om de ziekte tegen te gaan stonden de staalprijzen onder druk vanwege een zwakkere vraag vanuit de auto-industrie en bouwsector. De omzet van Tata Steel, de grootste staalfabrikant van India, zakte in de periode tot eind maart met ruim 20 procent.

Eerder deze maand begonnen vakbonden met hun eerste grote stakingsacties bij Tata Steel in IJmuiden in 28 jaar, waarbij onder andere de hoogovens een dag werden stilgelegd. Personeel is bezorgd over een op handen zijnde reorganisatie, waarbij wordt gevreesd voor banenverlies. Ook het vertrek van Theo Henrar als directeur van Tata Steel Nederland, dat als ontslag wordt gezien, leidde tot woede.

voda 30 juni 2020 13:10

French Rail Producer Hayange Attracts 6 Bids – Report

S&P Global Platts reported that according to reliable sources with knowledge of the matter, the bidders for Hayange include the world's largest steelmaker ArcelorMittal, UK-based industrial group Liberty House, French special steel producer Ascoval through its holding company Greybull Capital, German steel producer Saarstahl, India-based producer Jindal via its Italian rail unit producer JSW Piombino and Hayange's former owner, British Steel. The companies interested in Hayange presented their offers together with business plans on June 29 to the Social and Economic Committee of France Rail Industry in Hayange. Union committees will have around ten days to put their feedback in writing and then the companies will have to send their final offers by around mid-July

Chinese steelmaking group Jingye purchased British Steel's UK and Netherlands assets earlier this year after the UK-based steelmaker went into liquidation in May 2019: however Hayange was not included in this transaction.

Source : Strategic Research Institute

Bijlage:

voda 30 juni 2020 13:10

voestalpine Railway Systems Strengthens Market Position in France, China & Argentina

voestalpine Railway Systems is the global market leader for complete railway infrastructure systems, including rails, turnouts, and digital signaling technology. With the acquisition of a turnout plant in France and new shareholdings in China and Argentina, the Group is expanding its international production capacities in this area. It has even established the first Chinese production facility for turnout monitoring systems. Progressive urbanization, especially in Asia, as well as European efforts to combat climate change mean solid market forecasts for the rail sector in the years ahead. In the business year 2019/20, voestalpine Railway Systems generated EUR 1.4 billion in revenue at 70 production and sales locations worldwide. 7,000 employees work in this segment, 1,500 of them in Austria.

In the past, voestalpine Railway Systems has supplied rails, turnouts, and related components for the French railway network, the second largest in Europe with 30,000 kilometers of tracks. With the acquisition of Societe d’Équipement Industriel Lietaert, a turnout plant founded near Paris in 2012, the company is now also positioning itself as a major supplier for France’s state-owned railway company Société nationale des chemins de fer français. From this new location, the company also plans to expand its business activities in other markets dominated by SNCF technology, for instance in Maghreb.

Thanks to its joint venture Chinese Turnout Technologies, which was established in 2007, voestalpine is already one of the top three suppliers for the national high-speed network in China, which is to be expanded from 30,000 to 50,000 kilometers in the coming years. Its stake in Sanjia Turnouts, an established producer of turnout systems since 2004 with around 150 employees at the central Chinese location of Ruzhou, has allowed voestalpine to successfully enter the booming short-distance traffic sector

Via its Spanish subsidiary JEZ, the voestalpine Railway Systems Group recently acquired a share in a turnout assembly plant near Buenos Aires, Argentina. The regional production share and optimized sales opportunities offered by the company Sistemas Ferroviarios Argentinos SRL will help to significantly increase the Group’s competitiveness in the Argentinean market.

Source : Strategic Research Institute

voda 30 juni 2020 13:19

India Avoided INR 20,000 Crore worth Steel Imports through DMISP - Minister

PTI reported that India’s Steel Minister Mr Dharmendra Pradhan said that India has avoided steel imports worth over INR 20,000 crore following Domestically Manufactured Iron And Steel Products Policysince its launch in 2017. He said “Through the DMISP Policy, we are giving a boost to domestic sourcing of iron and steel products by central government organisations by mandating preference. Through this DMISP Policy, steel imports worth over INR 20,000 crore have so far been avoided.”

The minister also said the government's thrust on infrastructure development will have a positive bearing on driving steel consumption in the country. He said “The national infrastructure plan of NR 102 lakh crore will generate steel demand across sectors like civil aviation, roads, railways, energy etc, and the government will continue to promote maximum usage of home-made steel in projects that would come in these industries.”

Source : Strategic Research Institute

voda 30 juni 2020 13:19

thyssenkrupp Materials Services & mantro Launch Joint Venture for Steel Recycling

As part of its strategic further development Materials as a Service thyssenkrupp Materials Services is breaking new ground and investing in an innovative business model: For a joint venture the company has secured the expertise of the industry experienced company builder mantro. Together with the Munich-based company, the materials experts of the thyssenkrupp Group founded “mt industry recycling GmbH” on June 2, 2020 to recycle steel. The joint venture aims to achieve a more effective return of steel scrap to the production processes of the manufacturing industry and thus offer added value to customers.

In future, customers such as steel mills and foundries will be able to purchase pure steel scrap directly from mt industry recycling GmbH. The intermediate step via the scrap dealer is no longer necessary. Thanks to the streamlined process, customers will benefit from significantly lower costs and thus lower purchase prices. The purity of the material also enables them to melt down and reprocess the scrap without any loss of quality. In addition, efficient logistics processes promise to make a positive contribution to more sustainability in recycling processes.

With the new joint venture, thyssenkrupp Materials Services is systematically expanding its service portfolio in line with its "Materials as a Service" strategy. The aim is to intensify customer relations and drive forward integration into customers' entire supply chains. The joint venture of thyssenkrupp Materials Services and mantro combines the best of two worlds: Customers can draw on the decades of in-depth materials expertise of thyssenkrupp's materials specialists. As an expert in setting up innovative companies together with industrial partners, mantro ensures that the organizational structure is optimally set up and accelerates development.

Source : Strategic Research Institute

voda 30 juni 2020 13:20

Tata Steel Shuts Jamadoba Coal Mine over Fears of COVID19 Spread

TOI reported that Tata Steel announced the temporary closure of its Jamadoba coal mine after a mine manager tested positive for Covid-19 on Thursday night. Tata Steel spokesperson Rajesh Thakur said “Mining operations have been stopped as a precautionary measure to stop the spread of coronavirus and sanitization work of the coal mine as well as of the surrounding areas has been launched. All mine staff and associates of the mine manager have been directed to undergo necessary health check-ups as per the government protocol.”

The mine manager is currently admitted to Tata Main Hospital in Jamshedpur. The mine manager was posted at Pit number two of the Jamadoba mine which is situated near the general manager’s office.

Source : Strategic Research Institute

voda 30 juni 2020 13:36

Danieli to Replace HSM Downcoiler Mandrel at Sahaviriya Steel Industries

Thai steelmaker Sahaviriya Steel Industries has contracted Danieli Service for replacement of a downcoiler reel for its hot-strip mill located in Bang Saphan n Thailand. Once upgraded with Danieli technology the downcoiler, which was originally designed by another steel plant manufacturer and in operation since 1994, will benefit from a considerable reduction of maintenance cycles with a service life projected at over 1.5 million tonnes. The dedicated mandrels design team of Danieli Service was able to comply with all specific customer’s requests, winning the technical-commercial tender.

A completely new kinematic of the machine was developed and now the new reel is being manufactured at Danieli workshops in Italy, where special materials and processing are available at the highest standards. The gearbox also will be refurbished at Danieli Thailand workshops in January 2021, whilst the plant will continue normal operation.

The project witnesses the Danieli Service skill to customize and improve plants and equipment according to specific customer requests, incorporating given OEMs.

Source : Strategic Research Institute

voda 30 juni 2020 13:36

Zekelman Industries Announces Key Leadership Appointments

Zekelman Industries announced the appointment of Tom Muth to the role of Executive Vice President and Chief Operating Officer of the Tubular Products Division of Zekelman Industries. Tom has over 30 years of experience in the pipe and tube industry. He began his career with Copperweld Corporation and joined Atlas Tube in 2005 as Vice President of Sales, Atlas USA. Tom was promoted to President of Atlas in March of 2013. He has been instrumental in the success of Atlas Tube, leading expansions, acquisitions and industry changing e-commerce initiatives. Under his guidance, Atlas Tube has propelled itself to the leading manufacturer of HSS in North America. In his new role, Tom will continue to report directly to me and will oversee our newly created Tubular Products Division which will include the businesses of Wheatland Tube, Western Tube, Atlas Tube, Picoma, and Sharon Tube. Together these business units produce over 2.2 million tons of tubular products annually, including HSS, conduit, electrical fittings, fence framework, pipe, couplings, OCTG, API line pipe, pipe piles and DOM tubing.

Zekelman Industries also announced the appointment of Jeff Cole to the role of President, Atlas Tube. Jeff will report directly to Tom Muth. Jeff has spent his entire career with Atlas Tube, joining us immediately after college in 1993. Most recently, Jeff served as the Vice President of Operations, overseeing all of our HSS plants across North America. Jeff began his career on the shop floor, operating all aspects of tube production, and has since led Atlas operations through our many expansions and shop floor technology initiatives, driving achievement of industry leading key production metrics.

Source : Strategic Research Institute

voda 30 juni 2020 13:37

Steel Production Capacity Utilization in US in Week 26 Improves to 55%

AISI announced that in the week ending on June 27, 2020, domestic raw steel production was 1,240,000 net tons while the capability utilization rate was 55.4 percent. Production was 1,863,000 net tons in the week ending June 27, 2019 while the capability utilization then was 80.1 percent. The current week production represents a 33.4 percent decrease from the same period in the previous year. Production for the week ending June 27, 2020 is up 1.3 percent from the previous week ending June 20, 2020 when production was 1,224,000 net tons and the rate of capability utilization was 54.6 percent.

Adjusted year-to-date production through June 27, 2020 was 39,165,000 net tons, at a capability utilization rate of 67.0 percent. That is down 18.9 percent from the 48,313,000 net tons during the same period last year, when the capability utilization rate was 81.2 percent.

Broken down by districts, here's production for the week ending June 27, 2020 in thousands of net tons: North East: 123; Great Lakes: 409; Midwest: 132; Southern: 516 and Western: 60 for a total of 1240.

Source : Strategic Research Institute

voda 30 juni 2020 13:37

Evolving Safety Trends Drive Need for Stronger, Safer Vehicle Bumpers

New forms of automotive technology including battery electric vehicles and autonomous vehicles, in conjunction with increasing high-speed crash requirements have created challenges for OEM engineers and designers. The American Iron and Steel Institute has updated its industry manual to reflect these challenges. Bumper engineers at OEM and Tier One suppliers need to design economical and lightweight bumper systems that are compatible with evolving safety requirements, styling trends and to offset the weight challenges brought by evolving technology such as batteries and sensors. These new requirements and solutions to meet the evolving standards were integrated into the newly released, Steel Bumper Systems for Passenger Cars and Light Trucks 7th Edition, a free resource published by the automotive program AISI.

Advanced steel grades and manufacturing processes assist automotive manufacturers in meeting current and future safety requirements. BEVs overall have higher mass than their internal combustion engine counterparts, which create additional performance requirements for the bumper beams in high-speed crash events.

The design manual – Steel Bumper Systems for Passenger Cars and Light Trucks – 7th Edition has been substantially updated to be more clear, concise and user friendly. Focusing on lightweight steel exposed and unexposed bumper systems for light duty passenger vehicles, this manual includes material properties, manufacturing and product design. It has been significantly expanded to include a global outlook and the most recent global regulatory requirements. The manual can be downloaded here.

Source : Strategic Research Institute

voda 30 juni 2020 13:40

Tata Steel Reports Results for Q4 & 2019-20

Tata Steel CEO & Managing Director Mr TV Narendran said “FY20 has been a challenging year. The Indian economy slowed down in the first half with key steel consuming sectors like automotive contracting sharply. While the economy began recovering in the second half, the outbreak of Covid-19 in end March led to unprecedented disruption and heightened economic uncertainty. We have recalibrated our operations in line with the evolving business environment and are focused on conserving cash while actively de-risking the business. While deliveries in India were marred by the nationwide lockdown in late March 2020, margins improved on the back of stronger performance in the early part of the quarter. Both our acquisitions, Tata Steel BSL and Tata Steel Long Products continue to deliver improvements in operating KPIs which has translated into better profitability. Tata Steel Europe showed a turnaround in performance with positive EBITDA for the quarter. While there will be a sharp drop in volumes in 1QFY21, we are seeing early signs of recovery and remain poised to leverage our position on normalization of business conditions. With the phased removal of the lockdown restrictions in India, our upstream steel making operations have been ramped up and are currently operating at about 80% utilization levels. Our downstream units have reopened and are steadily ramping up. There are early signs of a recovery in steel demand on the back of increased spending on infrastructure projects as well as rural demand. In Europe, Tata Steel Europe continues to operate at about 70% utilization level. Key steel consuming sectors such as automotive and construction sector continue to be adversely affected, though demand for packaging material has seen a sharp upsurge.”

Key Highlights

India steel production grew 8%YoY to 18.20 million tonnes in FY20 with ramp up at Tata Steel BSL and acquisition of Usha Martin’s steel business by Tata Steel Long Products. In 4QFY20, it grew by 6%QoQ to 4.73 million tonnes. India steel deliveries grew 4%YoY to 16.97 million tonnes in FY20 despite a 17%QoQ drop in 4QFY20 deliveries to 4.03 mn tons due to the nationwide lockdown in late Mar’20. Branded Products & Retail segment achieved an 8%YoY improvement in volumes to 5.32 million tonnes

Tata Steel BSL achieved best ever crude steel production and sales at 4.46 million tonnes and 4.14 million tonnes, respectively on the back of improved maintenance practices, higher capacity utilizations and marketing synergies.

Tata Steel Long Products which acquired steel making facility of Usha Martin during the year, achieved crude steel production of 0.58 million tonnes this year while deliveries stood at 0.51 million tonnes.

Tata Steel Jamshedpur has been able to achieve substantial improvement in water consumption with specific consumption rate improving to 2.80 m3/tcs in FY20 from 3.27 m3/tcs in FY19. Solid waste utilization increased at both Tata Steel Jamshedpur and Tata Steel Kalinganagar to 102% and 101.2%.

Key corporate developments:

Given the uncertain business environment, capex is being curtailed sharply and restricted to safety and sustenance projects. The capex plans will be revisited in H2 or when business conditions normalize.

Tata Steel Mining Limited, a wholly-owned subsidiary of Tata Steel, has signed 50 year leases for Kamarda and Saruabil Chromes mines. It has also won Sukinda Chrome ore mines in the auction and the lease grant process is underway. With these mines, Tata Steel Mining is well placed to cater to its global customer base as well as requirements of Tata Steel Group.

Tata Steel Europe closed its Orb Electrical Steels business in the UK. The company offered employees alternative opportunities where possible at other sites.

South East Asian operations continued to be classified as ‘Asset held for sale’. While Tata Steel continues to engage with the strategic players for its divestment, the outbreak of COVID-19 has delayed the process.

Voor meer cijfers, zie pdf.

Source : Strategic Research Institute

Bijlage:

voda 30 juni 2020 13:40

China Strikes Back by Delaying Indian Consignments at Ports

Federation of Indian Export Organizations has informed the Indian government that in a retaliatory move customs authorities at Chinese ports are holding back Indian consignments. It pointed out that customs authorities at Indian ports had ordered examination of Chinese consignments without any official word from the government and this had led to retaliatory measures from the government in China. FIEO said “While the Indian government has said that there is no official communication, the examination of consignments from China is leading to the piling up of imports and in response Indian exporters have complained that customs authorities at Chinese ports are holding back export consignments.”

He added "We have been given to understand that customs is physically examining all imports from China which is delaying clearance, adding to the cost of imports. We have found that at Chennai and Mumbai ports, Indian customs are opening and checking all containers of China, although there is no written instruction or circular from CBIC regarding that."

The unofficial checking of consignments from China at Indian ports comes in the wake of the deterioration of Sino-Indian relations since the clash of the military forces of both countries at the border early this month, resulting in casualties for both sides.

Source : Strategic Research Institute

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