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voda 14 juni 2021 07:10

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AISI Welcomes Passage of Infrastructure Bills in US

US House Transportation and Infrastructure Committee has passed INVEST in America Act. The bill, HR 3684, a 5 year USD 547 billion surface transportation reauthorization bill, now moves to the full House for consideration after passing the committee 38-26. US House Transportation and Infrastructure Committee Chairman Mr Peter DeFazio said “The best part of rebuilding our infrastructure for the modern era is the incredible opportunity for our nation that comes with it. We’re talking millions of good-paying jobs that can’t be exported, real and sustained support for US manufacturing, and the chance to make our nation a world leader once again. This is a once-in-a-generation opportunity that we can’t afford to miss.”

The bill triples funding for Amtrak to USD 32 billion, allowing for enhanced service, ADA upgrades, and investments to renew and support service on the Northeast Corridor and long-distance and state-supported routes. Similar to a 2020 version of the bill, provisions of the legislation mandate two-person freight rail crews and take steps to address the problems of bus operator and transit worker assault as well as other issues faced by SMART-TD’s bus, rail and transit members.

American Iron and Steel Institute President & CEO Mr Kevin Dempsey said “One of the most important things Congress can do to spur economic growth and create jobs, including in the American steel industry, is to pass long-term infrastructure legislation. The more than 500 billion dollar surface transportation bill passed by the House T&I committee today would make significant investments in our national infrastructure system, including our deteriorating roads and bridges. We are also pleased that the legislation contains provisions to continue and expand the use of Buy America requirements for the steel products used in federal infrastructure projects. We strongly hope that today’s committee action will help facilitate the House and Senate working together in a bipartisan fashion to pass consensus legislation to fix America’s structurally deficient roads, bridges and highways.”

The committee also passed the Water Quality Protection and Job Creation Act of 2021, which reauthorizes the EPA Clean Water State Revolving Fund, which AISI has also long supported. Among other things, this measure will enable continued and consistent investment in key wastewater infrastructure projects and ensure that the steel products used in them are made in America.

Source - Strategic Research Institute

voda 14 juni 2021 07:11

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Karnataka HC Lists PIL against Sale of Land to JSW Steel

Express News Service reported that the Karnataka High Court has asked the state government for its stand on the decision to sell 3,667 acres of mining land in Bellary to steel major JSW Steel Ltd, following a PIL opposing the April 26 state Cabinet decision to sell the government land to the private firm. While posting the case for further hearing on June 15, a division bench said “The learned additional government advocate will take instructions whether any decision has been taken as alleged to transfer the government land to the extent of 3,667 acres to the eleventh respondent.”

The PIL against the sale, filed by a former state public prosecutor Mr S Doreraju, on behalf of an activist Mr KA Paul, has questioned the decision of the Mr BS Yediyurappa-led government to sell the land at a throwaway price

On April 26, the government first cleared the sale of the land to JSW Steel at a price of INR 1.22 lakh per acre, in line with lease cum sale agreements signed with JSW Steel in 2006 and 2007. However, the government reversed the decision in a Cabinet meeting on May 27.

Source - Strategic Research Institute

voda 14 juni 2021 07:11

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Tradecore Steel Acquires Kzn Assets of Gibbsteel Pinetown

Wadeville Johannesburg based South African Tradecore Steel Group of Companies has acquired the KwaZulu-Natal assets of Gibbsteel, a producer of value-added steel products. The acquisition, effective 1 June 2021, sees Tradecore Steel take over Gibbsteel’s processing plant and facilities in Durban, as well as all equipment, stock, staff and clientele. The operation has been renamed accordingly, thus expanding Tradecore Steel’s South African based processing facilities and the company’s footprint in KwaZulu-Natal. The facility, based in Pinetown, processes steel coil into a range of value-added steel products, including roofing profiles, slit sheets, sheets/blanking and fencing. This complements Tradecore’s production facility in Gauteng, which features five state-of-the-art processing lines.

Gibbsteel will continue to exist and operate from its Boksburg facilities.

The Tradecore Steel Group, now in its seventh year of operation, continues to expand its footprint throughout Sub-Saharan Africa, providing expertise in the processing, trading and distribution of a wide range of steel products to the construction, mining, rail and power industries.

Source - Strategic Research Institute

voda 14 juni 2021 07:12

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Shyam Metalics & Energy IPO to Open on June 14

Kolata based Shyam Metalics and Energy Limited is proposing to open the Bid/Offer period in relation to its initial public offering of Equity Shares on 14 June 2021 and close the Bid/Offer period on 16 June 2021. The price band for the Offer has been decided at INR 303-306 per Equity Share. The total issue size is upto INR 909 crore with a fresh issuance of Equity Shares, aggregating up to INR 657 crore and an offer for sale of Equity- Shares aggregating up to INR 252 crore, by the Selling Shareholders. The Company proposes to utilise the Net Proceeds from the Fresh Issue towards repayment or prepayment of up to INR 470 crore of its debt and that of its subsidiary, Shyam SEL and Power Limited and for other general corporate purposes.

The portion of the Offer being up to 300,000 Equity’ Shares, which shall not exceed 5% of the post Offer Equity Share capital of company, is available for allocation to Eligible Employees, on a proportionate basis.

Shyam Metalics and Energy Ltd has collected INR 270 crore from anchor investors, ahead of its IPO. The company has allocated 88,21,764 equity shares to 21 anchor investors at a price of INR 306 apiece, aggregating to INR 269.94 crore. As many as 12 domestic investors, including four mutual funds, two insurance companies, and six Alternate Investment Funds and nine Foreign Portfolio Investors participated in the anchor book

ICICI Securities Limited, JM Financial Limited, Axis Capital Limited, IIFL Securities Limited and SBI Capital Markets Limited are the BRLMS to the Offer.

Shyam Group is a producer of intermediate and long steel products, such as, iron pellets, sponge iron, steel billets, TMT, structural products, wire rods, and ferro alloys products with a specific focus on high margin products, such as, customised billets and specialised ferro alloys for special steel applications. The Group’s manufacturing plants at Sambalpur and Jamuria are forward and backward integrated. The Group has a wide distribution network partnered through 42 distributors across 13 states and one union territory in India. The Group is currently in the process of further diversifying its product portfolio by entering into the segments, such as, pig iron, ductile iron pipes and aluminium foil.

Source - Strategic Research Institute

voda 14 juni 2021 07:13

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AP CM Mr Jagan Reddy Seeks Cancellation of RINL VSP Privatization

Andhra Pradesh Chief Minister Mr YS Jagan Mohan Reddy met with India’s Steel Minister Mr Dharmendra Pradhan on Friday in New Delhi and urged the central government not to privatise Visakhapatnam Steel Plant. In the meeting, the CM appealed to the Union government to stop privatisation of VSP and requested it to consider the alternatives suggested by the state in reviving the plant. He said “20,000 people are employed in VSP and thousands more are indirectly employed. The company performed well and generated profits between 2002 and 2015. The plant has gone through an expansion by taking loans, but due to the slump in the international market during 2014-15, the company fell into debts with increasing operational costs and lack of own mines.”

He said that allotting the captive mine in Odisha will help in reviving VSP. He also suggested other possibilities in restructuring the finances of VSP, where all short-term and long-term loans could be converted into equity easing the burden.

Source - Strategic Research Institute

voda 14 juni 2021 07:14

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Greensill Collapse Ruined Italian Aigis Banca

The fallout from Greensill’s collapse impacted Milan based SME loans specialist Aigis Banca, which was forced to liquidate by the Bank of Italy. Venice based Italian bank Banca Ifis purchased Aigis Banca’s assets for EUR 1. Banca Ifis said it was taking over EUR 29801 of loans and EUR 135 million of Italian sovereign bonds from Aigis, along with EUR 44001 of its customer deposits. The bank added that securities related to Greensill were excluded from the transaction. Italy’s Interbank Deposit Protection Fund also provided €4901 to support the transaction. Banca Ifis CEO Mr Frederik Geertman told the Financial Times that doing so would ultimately salvage Aigis’ reputation. He said “The intervention makes it possible to avoid the severe social and an economic consequence of the situation that has arisen in Aigis Banca as a result of the latter’s exposure towards Greensill Bank.”

As per Financial Times report “Aigis Banca’s problems stemmed from investment products linked to invoices it had purchased from Greensill. These included receivables-backed notes linked to Mr Gupta’s metals empire, with a document seen by the FT showing that the bank had exposure linked to his Liberty Commodities business. While the investment products that Aigis bought from Greensill were covered by insurance policies, these are yet to pay out.”

According to people familiar with the matter and a document from Germany’s financial regulator BaFin, Mr Gupta entered discussions to buy a stake in Aigis Banca last year, which was majority-owned by private equity firm Metric Capital. The BaFin document shows German officials held a conference call in October with the Bank of Italy and the European Central Bank regarding Mr Gupta’s planned acquisition of a significant stake in Italy’s GBM Banca, Aigis’s previous name before it rebranded at the end of last year.

As well as using Greensill as a source of finance, Mr Gupta owned his own bank in the UK called Wyelands Bank. He looked to acquire a stake in Aigis at a time when Wyelands was coming under increasing pressure and scrutiny from regulators. Wyelands Bank announced earlier this month that it is to be sold or wound up, after its accounts revealed that repayments on 80 per cent of its loan book were overdue. The Bank of England ordered Gupta’s bank to repay customer deposits in March, amid rising concerns over its financial position.

SteelGuru has put key moments that precipitated Greensill Bank's fast decline and eventual collapse, when Greensill Bank went into administration on 8 March, it sent shockwaves through communities as the scale of its demise became apparent.

1 March: British Business Bank Removes Guarantee on Loans to Greensill - Britain’s state owned business bank stripped Greensill Capital of a government guarantee on loans to Mr Sanjeev Gupta’s empire, after deciding it had breached the terms of pandemic lending programmes. British Business Bank has informed Greensill that it is removing a taxpayer guarantee following an investigation into the UK based fintech company's compliance with the rules of the Coronavirus Large Business Interruption Loan Scheme.

1 March: Credit Suisse Pulls the Plug - Greensill’s distinctive supply chain finance loans, packaged into securities managed by Credit Suisse, hit a snag when GFG Alliance defaults on a USD 140 million loan citing COVID-19-related economic downturn. In response, Credit Suisse closes funds worth USD10 billion. Concerned about Greensill’s close link to steel tycoon Mr Sanjeev Gupta, the bank is forced to sell the assets.

2 March: Market Developments Force GAM’s Hand -With Greensill now treading water, Swiss asset management firm GAM opted to freeze the company’s receivables funds. GAM cites ‘market developments’ and media coverage relating to supply chain finance as its reasons.

3 March: BaFin Suspends Greensill - German regulators banned its German subsidiary Greensill Bank from doing business and reportedly filed a criminal complaint against management. German Federal Financial Supervisory Authority Bundesanstalt für Finanzdienstleistungsaufsicht issued a ban for Greensill Bank AG on disposals and payments as there is an imminent risk that the bank will become over-indebted. In addition, BaFin ordered that the bank be closed for business with customers and prohibited it from accepting payments that are not intended for repaying debt to Greensill Bank AG.

4 March: GFG Alliance Halts Repayments to Greensill - With BaFin going so far as to accuse Greensill Bank of criminal negligence, GFG Alliance’s reliance on Greensill, a relationship long held in suspicion by UK and German regulators, is laid bare. Subsequently, Gupta orders that repayments to Greensill Capital are to cease immediately.

8 March: Australian Regulators Scrutinise Credit Suisse Unit over Greensill - Australian regulators started scrutinising Credit Suisse’s Australian outpost’s involvement in Greensill Capital and potential exposure to Greensill and its key clients. Australian Securities and Investments Commission and the Australian Prudential Regulation Authority had separately approached the bank’s management, with separate lists of questions for the bank. Australian Prudential Regulation Authority’s questions were focused on Credit Suisse Australia’s balance sheet exposure to interest is much broader and included Credit Suisse’s conflict management systems and due diligence practices.

8 March: Greensill Goes into Administration - After the weekend of 6 & 7 March has passed, Greensill went into administration. Unable to repay a USD 140 million loan to Credit Suisse and hit by defaults from its key customer GFG Alliance, Greensill Capital has filed for administration. Greensill was thrown into crisis after its main insurer Japanese behemoth Tokio Marine Holding’s Bond & Credit Company refused to renew a USD 4.6 billion contract and Credit Suisse froze USD 10 billion of funds linked to the firm, depriving it of an important source of funding.

12 March: Night in White Armour Apollo Pulls Out - US private equity firm Apollo Global Management, which has made a USD 59.5 million cash offer for Greensill Capital's IT systems and intellectual property after it filed for administration on March 8th, halted talks to acquire parts of Greensill following an escalating stand off with US company Taulia, which once provided technology to the supply chain finance group, as Taulia looked to move its users to other providers, primarily the US bank JPMorgan.

Source - Strategic Research Institute

voda 14 juni 2021 07:15

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EU to Extend Steel Import Safeguards for 3 Years

The European Union had notified the initiation of an investigation on 26 February 2021. The scope of the investigation was to decide whether the safeguard measure should be prolonged beyond 30 June 2021. The European Union has notified to the Committee on Safeguards its proposal to extend a safeguard measure on imports of certain steel products. The EU safeguard measure was originally in place for a period of 3 years. The extended measure does not introduce any changes to its scope, neither in terms of product definition, nor in terms of geographical coverage. The proposed measure consists of a Tariff-Rate Quota available per product category, out of which, an out-of-quota 25% duty applies. The proposed extension of the safeguard measure will come into effect on 1 July 2021. The expected duration of the proposed prolongation of the safeguard measure is three years, until 30 June 20242.

To assess the economic situation of the Union industry, the developments of imports and other relevant data included in its assessment, the European Union assessed the data of the period 2018-2020. During the period considered consumption decreased by 6% and 16% in 2019 and 2020 respectively when compared to the year 2018. Domestic sales of the Union industry followed a similar downward trend. In the same period, the Union industry increased its market share by 2.5 percentage points. The data showed that the economic situation of the Union industry had deteriorated significantly already in the year 2019, when the Union industry already turned into lossmaking, with virtually all injury indicators showing a sharp negative trend.

Volume of Tariff Rate Quota (Period 1.7.2020 to 30.6.2021)

Non Alloy and Other Alloy Quarto Plates

Ukraine - 917,387 tonnes

Korea - 378,136 tonnes

Russia - 311,897 tonnes

India – 202,046 tonnes

Other countries – 1.261 million tonnes

Non Alloy and Other Alloy Hot Rolled Sheets and Strips

All Third Countries – 9.073 million tonnes

Non Alloy and Other Alloy Cold Rolled Sheets

India – 633,906 tonnes

Korea – 389,997 tonnes

Ukraine- 276,357 tonnes

Brazil – 176,625 tonnes

Serbia – 152,539 tonnes

Other countries - 1.161 million tonnes

Metallic Coated Sheets

Korea – 187,894 tonnes & 673,928 tonnes

India – 224,325 tonnes & 320,294 tonnes

China – 553,522 tonnes

Chinese Taipei - 133,008 tonnes

Other countries – 2.056 million tonnes & 339,209 tonnes

Organic Coated Sheets

India – 291,795 tonnes

Korea – 279,134 tonnes

Chinese Taipei – 86,358 tonnes

Turkey – 58,969 tonnes

Macedonia – 44,106 tonnes

Other countries – 116,442 tonnes

Tin Mill products

China – 427,095 tonnes

Serbia – 82,496 tonnes

Korea – 64,509 tonnes

Chinese Taipei – 57,166 tonnes

Brazil – 53,285 tonnes

Other countries – 89,576 tonnes

Electrical Sheets (other than GOES)

Korea – 5,196 tonnes & 84,750 tonnes

China – 2,222 tonnes & 65,323 tonnes

Russia – 1,403 tonnes & 138,889 tonnes

Chinese Taipei – 49,005 tonnes

Iran – 614 tonnes

Other countries – 827 tonnes & 22,673 tonnes

Rebars

Turkey – 316,614 tonnes

Russia – 254,098 tonnes

Ukraine – 168,890 tonnes

Bosnia and Herzegovina – 106,291 tonnes

Moldova – 76,389 tonnes

Other countries – 588,158 tonnes

Non Alloy Wire

Belarus – 238,461 tonnes

China – 180,193 tonnes

Russia – 112,376 tonnes

Turkey – 108,847 tonnes

Ukraine – 72,258 tonnes

Other countries – 107,409 tonnes

Non Alloy and Other Alloy Wire Rod

Ukraine - 402,437 tonnes

Switzerland – 383,494 tonnes

Russia - 331,878 tonnes

Turkey – 327,685 tonnes

Belarus – 263,152 tonnes

Moldova -197,240 tonnes

Other countries – 329,527 tonnes

Non-alloy and other alloy cold finished bars

Russia – 317,391 tonnes

Switzerland – 73,388 tonnes

China – 54,753 tonnes

Ukraine – 43,128 tonnes

Other countries – 47,372 tonnes

Angles, Shapes and Sections of Iron or Non Alloy Steel

Ukraine – 115,903 tonnes

Turkey – 103,884 tonnes

Korea – 27,998 tonnes

Russia – 25,452 tonnes

Brazil – 23,166 tonnes

Switzerland – 17,954 tonnes

Other countries – 39,862 tonnes

Non Alloy and Other Alloy Merchant Bars and Light Sections

China - 448,913 tonnes

Turkey – 310,067 tonnes

Russia – 256,011 tonnes

Switzerland – 198,182 tonnes

Belarus – 156,394 tonnes

Other countries – 205,919 tonnes

Sheet Piling

China – 32,944 tonnes

United Arab Emirates – 17,961 tonnes

Other countries – 1,296 tonnes

Railway Material

Russia – 5,799 tonnes

China – 5,793 tonnes

Turkey – 4,711 tonnes

Ukraine – 1,776 tonnes

Other countries – 2,730 tonnes

Stainless Hot Rolled Sheets and Strips

China – 235,853 tonnes

Korea – 48,835 tonnes

Chinese Taipei - 34, 653 tonnes

United States of America – 31,896 tonnes

Other countries - 27,538 tonnes

Stainless Cold Rolled Sheets and Strips

Korea - 191.249 tonnes

Chinese Taipei - 177,113 tonnes

India - 115,377 tonnes

United States of America - 96,172 tonnes

Turkey - 79,160 tonnes

Malaysia - 53,472 tonnes

Vietnam - 45,459 tonnes

Other countries - 137,054 tonnes

Stainless Hot Rolled Quarto Plates

China – 18,271 tonnes

India – 7,725 tonnes

Chinese Taipei – 3,023 tonnes

Other countries – 3,889 tonnes

Stainless Bars and Light Sections

India – 120,002 tonnes

Switzerland – 17,562 tonnes

Ukraine – 15,484 tonnes

Other countries – 23,046 tonnes

Stainless Wire Rod

India - 27,372 tonnes

Chinese Taipei - 17,878 tonnes

Korea – 8,912 tonnes

China - 5,987 tonnes

Japan - 5,915 tonnes

Other countries - 3,090 tonnes

Gas pipes

Turkey – 240,136 tonnes

India – 87,281 tonnes

Macedonia – 26,028 tonnes

Other countries – 59,494 tonnes

Hollow sections

Turkey – 417,094 tonnes

Russia – 95,623 tonnes

Macedonia – 91,903 tonnes

Ukraine – 68,169 tonnes

Switzerland – 60,237 tonnes

Belarus - 56.442 tonnes

Other countries – 68,235 tonnes

Seamless Stainless Tubes and Pipes

India – 22,459 tonnes

Ukraine – 14,111 tonnes

Korea – 4,454 tonnes

Japan – 4,295 tonnes

United States of America – 3,762 tonnes

China – 3,510 tonnes

Other countries – 7,665 tonnes

Other Seamless Tubes

China – 133,643 tonnes

Ukraine – 99,333 tonnes

Belarus – 53,084 tonnes

Japan – 37,178 tonnes

United States of America – 32,704 tonnes

Other countries – 149,474 tonnes

Large welded tubes

Russia – 379,732 tonnes

Turkey – 47,380 tonnes

China – 38,387 tonnes

Other countries – 91,857 tonnes

Other Welded Pipes

Switzerland – 175,003 tonnes

Turkey – 163,918 tonnes

United Arab Emirates – 50,440 tonnes

China – 48,641 tonnes

Chinese Taipei – 38,821 tonnes

India – 30,677 tonnes

Other countries – 99,653 tonnes

Source - Strategic Research Institute

voda 15 juni 2021 07:54

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Steel Packaging Recycling Rate Climbs to 84% in Europe

Association of European Producers of steel for packaging APEAL announced that recycling of steel packaging in Europe has hit a new all-time high of 84% in 2020. It is an increase of 1.5% and is the ninth consecutive year in which the overall recycling rate has risen. APEAL Secretary General Mr Alexis Van Maercke said “Once again, this strong recycling performance highlights steel as one of the most sustainable packaging solutions available. As APEAL continues to work closely with the European Commission, European Parliament and member states to deliver the Circular Economy Action Plan CEAP 2.0, this latest record recycling rate also sends a clear message to all stakeholders in the value chain, that steel for packaging is tried, tested and perfectly suited to a 21st century circular economy.”

He added “Increased separate collection is a key driver for increased recycling, with notable increases in countries such as Italy and Poland attributed to increased separate collection and greater public awareness of the benefits of steel recycling.”

APEAL believes that more can be done, however, and recently announced its 2025 vision for recycling – Zero steel packaging to landfill. The 2025 Vision will be supported by action in four key areas, identified by the Association as critical in the drive to prevent steel packaging being diverted from recycling and wasted. These include a continued focus on optimising separate waste collection, establishing a scrap quality standard, the collection and sorting of steel closures, and designing for recyclability.

Steel is circular by nature. Magnetic properties make steel easy to collect from any waste stream and, as a permanent material, it can be recycled over and over again without any loss of material quality. 100% of recycled steel is used for new steel products a bridge, wind turbine or even a new item of packaging.

Source - Strategic Research Institute

voda 15 juni 2021 07:57

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European Automakers Upset over EC Proposal for Steel Safeguards

The European Automobile Manufacturers’ Association ACEA is extremely disappointed by the European Commission’s proposal to extend the restriction of steel imports into the EU. ACEA said “Continuing this safeguard measure disregards the interests of downstream users of steel, such as the automotive sector. The proposal to extend current restrictions by three years comes in the face of acute shortages in auto makers’ European steel supply chain. These shortages have led to a slowdown in manufacturing, requiring a constant crisis management of orders to avoid complete assembly line stoppages. Meanwhile, prices continue to surge to record highs on the European market. Producers now charge up to EUR 1,300 per tonne for automotive grades of steel. EU steel producers are dictating prices and reporting record earnings, the idea that domestic steel is under threat of serious injury from imports is scarcely credible.”

ACEA said “Automobile manufacturers source almost all their steel (over 90%) in the EU. Since manufacturing restarted in summer 2020 there has been a serious shortage of steel in the European market. The safeguard measure in place limits the potential of manufacturers to balance this through imports, acting as a lid on an already over-heated market. While the Commission does propose an expansion of the quota for certain automotive grades, the increase is so marginal that it will make no difference to the scarcity of supply or to the inflationary effect of the safeguard.”

ACEA Director General Mr Eric-Mark Huitema said “In a market where EU steel producers are dictating prices and reporting record earnings, the idea that domestic steel is under threat of serious injury from imports is scarcely credible. We need imports to fill supply chain gaps. If this proposal is approved by member states in its current form, then the market situation will remain critical for automobile manufacturers for the foreseeable future”.

The European Automobile Manufacturers’ Association ACEA represents the 15 major Europe-based car, van, truck and bus makers: BMW Group, CNH Industrial, DAF Trucks, Daimler, Ferrari, Ford of Europe, Honda Motor Europe, Hyundai Motor Europe, Jaguar Land Rover, Renault Group, Stellantis, Toyota Motor Europe, Volkswagen Group, Volvo Cars, and Volvo Group.

Source - Strategic Research Institute

voda 15 juni 2021 07:59

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Japan Starts AD Probe in HDG Steel Wire Imports from China & Korea

Japan’s Ministry of Economy, Trade and Industry and Ministry of Finance have decided to initiate a new anti-dumping investigation into Hot-dipped galvanized steel wire originating in China and Korea. On March 31, 2021, the Ministry of Finance and Ministry of Economy, Trade and Industry received an application to impose the anti-dumping duties on Hot-dipped galvanized steel wire originating in China and Korea from the applicants Nichia Steel Works Ltd, NS Hokkai Seisen Co Ltd, Galvart Japan Company Limited and Wire Techno Ltd. Both ministries examined the application and found that the application fulfilled the formal requirements for initiating an investigation. As a result, the ministries decided to initiate the investigation. Following those investigations, the Government of Japan will determine whether or not the product has been imported into Japan at dumped prices and if such dumped imports have caused material injury to the domestic industry, in accordance with the provisions of the international rules under the WTO Agreements and related domestic laws and regulations, and make a decision on whether or not to impose the anti-dumping duties on the product subject to the investigation.

The investigation is to be concluded within one year, in principle. The ministries will explore objective evidence collected from interested parties including suppliers in China, Korea and domestic producers, providing opportunities for them to present evidence and information.

Hot-dipped galvanized steel wire, is made from the wire of iron or non-alloy steel through the process of drawing and galvanizing, and mainly used for wire nettings (fences, falling stone guard fences, falling stone guard nets, gabions, crimped wire nets and hexagonal wire meshes)and various barbed wires. It is also used for the purpose of bonding including wires for pulp bonding.

Source - Strategic Research Institute

voda 15 juni 2021 08:00

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ABB Integrates Digital Platform at Sunflag Steel Bhandara

Working alongside Sunflag Iron and Steel Company Ltd in Bhandara in India, global technology company ABB has achieved successful integration of its ABB Ability Data Analytics Platform for metals, tying together all manufacturing and operational data of steel melt shop and rolling mills to improve production planning and plant performance optimization. The plant, which has a capacity to produce 500,000 tonnes of high quality special steel per annum, now has the platform to integrate data sources across 17 operational areas, including non-ABB systems. A key example is that information technology and operational technology has converged to positively impact Sunflag’s steel melt shop and rolling mills.

ABB integrated with the existing automation systems for process and quality monitoring in real time, aligning with user-friendly operator dashboards available via a web page on mobile. The platform enables identification and diagnosis of issues or use of extra resources.

The project has been part of a wider digital transformation engagement with the customer, with ABB providing domain expertise for systems that improve overall process visibility to enable data driven business decision making.

Source - Strategic Research Institute

voda 15 juni 2021 08:02

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Hyundai, POSCO, Tsingshan & JSW Steel May Invest in Andhra Pradesh

The Hindu reported that Hyundai Steels, POSCO, Tsingshan Holdings and JSW Steel have evinced interest in setting up their units in Andhra Pradesh. According to the Industries Department officials, Hyundai Steels and POSCO are likely to invest INR 42,000 crore and INR 30,000 crore respectively and the other two INR 12,000 crore each, adding to INR 96,000 crores. The government is in active discussions with them and is expecting that the reforms, which have earned it high Ease-of-Doing Business ranking, will clinch a good number of the deals.

Under the Industrial Development Policy 2020-23, the Andhra Pradesh government is providing tailor-made incentives, including fiscal, for projects generating employment for more than 2,000 people. The land allotment policy has been revamped in order to reduce the upfront cost and curb land hoarding by unscrupulous investors, which is a bane for the genuine ones. Land is now being allotted on lease-plus-buy model. Another significant thing is establishment of YSR APOne, a dedicated cell with a digital interface for the much-needed business facilitation.

Source - Strategic Research Institute

voda 15 juni 2021 08:03

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MMK Selects Danieli for Relining of Blast Furnace 9

Russian steel producer Magnitogorsky Metallurgichesky Kombinat has selected Danieli Corus for the reline of blast furnace #9 at its Magnitogorsk integrated steel works. During this project, the furnace will be equipped with the Hoogovens cooling and lining design based on copper plate coolers and high-conductivity graphite refractory materials.

MMK has operated its blast furnace #1 using this same technology since 2017, when it was installed under a contract with Danieli Corus. With this project, blast furnace #9 also will rely on the only technology with a campaign life capability of over 30 years, proven in multiple installations.

Source - Strategic Research Institute

voda 15 juni 2021 08:07

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Distributors Raise Alarm over Substandard Steel Rebars in Nigeria

The Nigerian Tribune reported that iron rod distributors in Nigeria have raised the alarm over the proliferation of substandard steel products in the Nigerian markets. Iron Rods Distributors Association of Nigeria has urged the National Assembly to support efforts by the Standards Organisation of Nigeria to tackle the menace of substandard steel products in the country. It said that such support would help to strengthen and bolster the campaign against substandard steel products and tackle economic saboteurs.

They said “We cannot over-emphasize the dangers posed to lives and property by having non-compliant and substandard steel products in the market. Fake products will not only seriously impact business operations, but also pose a threat to health and safety. Substandard steel products are often poorly made and tested and the consequences include low durability and a hazardous environment for employees. It also has economic effects as it could easily lead to increased cost for insurance, repairs, and replacement.”

Standards Organisation of Nigeria Director-General Mr Farouk Salim had recently ordered manufacturers and importers of steel products to get fake and substandard steel products out of the Nigerian market and prepare themselves for harmonised steel standard across West Africa. He said “Required Nigerian Industrial Standard 117 must be adhered to because steel products are key materials used in building bridges and must pass the quality threshold to safeguard lives and property. Any steel manufacturer caught circumventing quality assurance requirements will be prosecuted in line with the SON Act 14 of 2015.”

Source - Strategic Research Institute

voda 15 juni 2021 08:08

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Metalloinvest’s OEMK Buys Heavy Duty Special Truck from BelAZ

Metalloinvest’s Oskol Electrometallurgical Plant has received a new heavy truck BelAZ, with a carrying capacity of 150 tonnes. The width of the special transport is 4 meters, and the length is almost 13 meters. It is designed for the transportation of large sized technological cargo and has two control stations, thanks to which it can move like a shuttle without resorting to turns. Both cabins of the machine are maximally ergonomic, have an air conditioning system, a protective canopy and meet the requirements of standards in terms of noise, vibration and dust levels.

The platform height of the heavy truck is 1.6 meter and can be adjusted if necessary. The machine is equipped with a powerful Cummins engine, modern braking, fire extinguishing and automatic lubrication systems. The chassis is equipped with seven axles, on which 28 solid "superelastic" tires are installed. These tires are maintenance-free and have an extended service life.

Source - Strategic Research Institute

voda 15 juni 2021 08:08

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Shyam Steel is Partner for ICC Test World Championship 2021

Kolkata Head Quartered rebar maker Shyam Steel, timing well with IPO opening on 14 June, announced its latest partnership with ICC for the upcoming ICC Test World Championship 2021 as the official partner for the event. The inaugural championship match will be played between India and New Zealand and is slated to take place from 18th to 22nd June 2021 plus a reserve day at Southampton, England.

Based on the association, Shyam Steel India will have its logo presence in the outfield and perimeter board. The brand’s logo will also be displayed in the backdrop for flash interviews and post-match presentation and in the ICC website and mobile app. The brand will have the right to use photograph and Audio-Visual clips of the match for internal use and promotional purposes. Shyam Steel India will leverage the association to enhance its brand awareness, build relevance and engage with the target audience. The partnership with ICC will help brand Shyam Steel to instantly connect with the millions of viewers watching the event across India and abroad.

Kolkata Head Quartered rebar maker Shyam Steel, timing well with IPO opening on 14 June, announced its latest partnership with ICC for the upcoming ICC Test World Championship 2021 as the official partner for the event. The inaugural championship match will be played between India and New Zealand and is slated to take place from 18th to 22nd June 2021 plus a reserve day at Southampton, England.

Based on the association, Shyam Steel India will have its logo presence in the outfield and perimeter board. The brand’s logo will also be displayed in the backdrop for flash interviews and post-match presentation and in the ICC website and mobile app. The brand will have the right to use photograph and Audio-Visual clips of the match for internal use and promotional purposes. Shyam Steel India will leverage the association to enhance its brand awareness, build relevance and engage with the target audience. The partnership with ICC will help brand Shyam Steel to instantly connect with the millions of viewers watching the event across India and abroad.

voda 15 juni 2021 08:09

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MMK to Deepen Relationship with KAMAZ & United Machine Building

Russian steel maker MMK Chairman Mr Viktor Rashnikov recently discussed closer interaction with Russian truck maker KAMAZ CEO Mr Sergey Kogogin and largest Russian manufacturers of heavy duty equipments and road-building equipment, as well as power units United Machine Building Group General Director Mr Dmitry Strezhnev in Moscow.

MMK is a key supplier for PJSC KAMAZ, one of the largest car manufacturers in Russia. Over the past five years, the share of MMK's metal products in the total consumption of KAMAZ PTC has reached 70%. One of the main issues discussed at the meeting between the heads of MMK and KAMAZ was cooperation in the field of import substitution. Currently, samples of MMK's newest rolled steel, which will be able to replace part of the imported products used by KAMAZ, have already been successfully tested at the Scientific Research Institute of Steel. According to experts, the samples presented by MMK meet all the requirements. The Magnitogorsk Metallurgical Plant has already sent a pilot batch of rolled products to KAMAZ for technological tests. In addition, MMK has mastered the production of rolled products using special technologies that make it possible to increase the metal's resistance to high-cycle fatigue. Due to this, MMK's innovative rolled products can serve longer and, in terms of their characteristics, are qualitatively ahead of other types of rolled products on the market.

Mr Rashnikov and Mr Kogogin also discussed issues of interaction between MMK and the DAIMLER KAMAZ RUS concern, which produces cabins for heavy-duty Mercedes-Benz and KAMAZ vehicles. MMK already produces metal used in the production of KAMAZ K5 truck body cabins, and thanks to the implementation of the Second Wave of Localization program, Magnitogorsk Iron and Steel Works will be able to expand its product line and all cab parts will be made from Magnitogorsk steel. At present, part of the prototypes of the required types of rolled products have already been produced and shipped to the address of DAIMLER KAMAZ RUS, some are in production. Successful implementation of the program will reduce the concern's dependence on steel supplies from abroad, as well as provide a synergistic effect in terms of interaction between MMK and DAIMLER KAMAZ RUS.

Mr Rashnikov and Strezhnev discussed issues of bilateral cooperation and paid special attention to the supply of rolled metal products from MMK to the enterprises that are part of the OMG holding. The leaders of both companies expressed satisfaction with the state of bilateral relations. As a result of the meeting, an agreement was reached that MMK will continue to supply high-quality rolled metal products to the United Machine-Building Group companies that fully meet the highest requirements for metal products required for the production of modern heavy-duty and road-building equipment.

Source - Strategic Research Institute

voda 15 juni 2021 08:09

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Salzgitter Develops Cold Rolled Manganese Boron Steels for Autos

The new cold-rolled grade 34MnB5 has been developed in close cooperation between Salzgitter Mannesmann Forschung GmbH and Salzgitter Flachstahl. This grade is a manganese-boron, MnB, alloyed heat-treatable steel. Our extensive, in-depth know-how based on over 40 different products involving manganese-boron alloyed heat-treatable steels entered into the development. Comprehensive characteristic values (according to SEP 1240 and SEP 1220, among others) as well as material data for numerical simulation are available and can be accessed at all times via the COMDaS material online portal. Work on the parameterization of a material model mapping the press hardening process harnessing the LS-DYNA software is currently being ongoing. Manganese-boron alloyed, cold-rolled heat-treatable steels for press hardening have been specially developed for the automotive industry. The use of these steels enables advances in lightweight design and construction, while increasing occupant protection and also protecting the battery in the case of BEVs (Battery Electric Vehicles).

To date, 22MnB5 has featured as the standard grade, and finds use in many areas of car body construction. The new 34MnB5 grade will now supplement or substitute 22MnB5 in many areas and applications.

In its as-delivered condition, 34MnB5 exhibits very good formability and is consequently also suitable for the cold forming of complex components. Manganese-boron steels only attain their final strength during hot forming and the associated controlled cooling in the die (press hardening). In hot forming, the microstructure of the initial blank is converted to the austenitic range under an inert gas atmosphere at around 950°C, after which the blank is formed directly. During cooling in the tool to temperatures between 100°C and 200°C, the material thereby acquires a martensitic microstructure, which greatly increases the tensile strength.

Customers and users have already developed advanced technologies and applications for and with the 22MnB5, most of which can also be applied to the 34MnB5. At Salzgitter AG, various Group companies are joining forces in supporting customers in their respective implementation and development activities (Initiative Automotive). Salzgitter Europlatinen GmbH (SZEP) is the contact for Tailored Welded Blanks (TWB).

Source - Strategic Research Institute

voda 15 juni 2021 08:10

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Japan Complains to WTO over China AD Duties on Stainless Steel

Japan has filed a complaint with the c over China's anti dumping duties on their stainless steel products which has been in place since July 2019, saying that the tariffs of up to 29% violate international trade rules. Japan considers the AD measure to be inconsistent with the General Agreement on Tariffs and Trade and the Agreement on Implementation of Article VI of the General Agreement on Tariffs and Trade 1994 due to flaws in the Chinese authorities' determination and its investigation procedures.

In July 2019, China started imposing anti-dumping duties on stainless steel products imported from Japan, Korea, Indonesia, and the EU, claiming that its domestic industry was being injured by the dumped imports of such products. Japan has repeatedly asked China to abolish the AD measure at the WTO and in bilateral meetings, but has failed to resolve the issue.

The total value of exports of stainless steel from Japan to China was approximately JPY 70 billion per year, of which exports of the products subject to the AD measure account for approximately JPY 9.2 billion.

Source - Strategic Research Institute

voda 15 juni 2021 08:12

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GMS Market Commentary on Ship Breaking in Week 23

World's leading cash buyer of ships for recycling GMS said that “With budgets due in both Bangladesh and Pakistan this week, it has been somewhat of a tentative period for both markets, with much of the recent momentum stalled whilst rates and sentiments have been declining, in Chattogram in particular. We certainly do not expect there to be any dramatic outcome in either budget that would negatively affect current prices. However, as usual at this time of the year, End Buyers would rather play it safe & avoid any unwarranted surprises and would rather have ships delivered before the budget is implemented, in the event additional taxes are imposed on the ship recycling sector. The Indian budget recently passed as well, without much fanfare or adverse effects on the domestic ship recycling sector. Meanwhile, Covid-19 cases are reportedly declining across the country as oxygen supplies to local yards resumes once again and Alang gradually comes back online. Steel plate prices remain positively poised in both Alang and Gadani this week, where demand is ramping up once again, having recently lost a majority of the larger LDT tonnage to an ever-bullish Bangladesh.

GMS said “Chattogram Recyclers, on the other hand, have started to see their steel prices cool off going into the traditionally weaker summer / monsoon months and they have started losing, particularly some of the bigger units, to an improving Gadani market of late.”

Finally, the Turkish market has seen a further improvement in steel plates as levels stay steady for another week.

GMS Pricing

India/Bangladesh/Pakistan – Week 23, Unchanged WoW

Dry Bulk – USD 500-540 per LDT

Tankers - USD 510-550 per LDT

Containers - USD 520-560 per LDT

Source - Strategic Research Institute

Vertraagd	18 apr 2024 17:35
Koers	23,800
Verschil	+0,290 (+1,23%)
Hoog	23,960
Laag	23,560
Volume	2.676.573
Volume gemiddeld	2.405.623
Volume gisteren	3.430.788

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