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US Steel Production Capacity Utilization Drops Further in Week 31

Strategic Research Institute
Published on :
9 Aug, 2022, 6:23 am

American Iron & Steel Institute announced that in the week ending on 6 August 2022, US’s raw steel production was 1.723 million net tons while the capability utilization rate was 78.2%. Production was 1.869 million net tons in the week ending 6 August 2021 while the capability utilization then was 84.7%. The current week production represents a 7.8%decrease from the same period in the previous year. Production for the week ending 6 August 2022 is down 0.2% from the previous week ending 30 July 2022 when production was 1.727 million net tons and the rate of capability utilization was 78.4%.

Southern: 731 KNT

Great Lakes: 567 KNT

Midwest: 197 KNT

North East: 162 KNT

Western: 66 KNT

Adjusted year-to-date production through 6 August 2022 was 54.470 million net tons, at a capability utilization rate of 80.1%. That is down 3.1% from the 56.216 million net tons during the same period last year, when the capability utilization rate was 80.2%.
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Jindal Stainless Ropes in E&Y for Achieving ESG Goals

Strategic Research Institute
Published on :
9 Aug, 2022, 6:25 am

India’s leading stainless steel manufacturer Jindal Stainless is taking several initiatives to achieve its broad Environmental, Social & Governance goals. As a responsible corporate that is committed to transition to sustainable manufacturing, Jindal Stainless has initiated Project Samanvay to assess its preparedness as per select ESG indices. The Company has appointed Ernst & Young as its partner to develop a strategic roadmap for the project. Additionally, the Company has also proposed to forecast its GHG emissions and establish emission reduction targets in line with Science Based Target initiative.

In the next 6 months, Jindal Stainless and EY will work seamlessly to carve out a strategic roadmap for achieving decarbonization, evaluate continuous upgrades and retrofits, adopt clean technologies strategy, improve ESG performance, and embrace digitalization of business process, initiate GHG Accounting etc.

Considering the complexities and impact of expansion in a hard to abate sector, Jindal Stainless is making concerted efforts to decarbonize and reduce carbon emissions significantly for its present and future capacity expansion plans. The focused initiatives include deploying energy-efficient measures, process reconfiguration, adopting and investing in circular economy principles, improving material efficiency, fleet decarbonization, investing in low-carbon emission technologies for stainless steel production etc. Currently, Jindal Stainless has a stainless steel melting capacity of 1.9 million tonnes at its Hisar and Jajpur manufacturing facilities. The Company has planned a capacity expansion at its Jajpur facility by 2022-23 to take the total melting capacity to 2.9 million tonne.

During FY 2021-22, Jindal Stainless reduced its carbon emissions by 3,100 tonnes and initiated a switch from a thermal energy-intensive manufacturing setup to renewable energy alternatives such as solar & wind power, Green Hydrogen and usages of bio-fuels as part of our decarbonization initiatives.
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US Continues AD & CAT Duties on Stainless Steel Plate in Coils

Strategic Research Institute
Published on :
9 Aug, 2022, 6:27 am

US Department of Commerce & the US International Trade Commission determinations that revocation of the antidumping duty orders on Stainless Steel Plate in Coils from Belgium, South Africa and Taiwan and the countervailing duty order on Stainless Steel Plate in Coils from South Africa would likely lead to a continuation or recurrence of dumping, net countervailable subsidies, and material injury to an industry in the United States, US DOC has published a notice of continuation of the AD orders and the CAT order. US DOC has ordered the continuation of the Orders on SSPC from Belgium, South Africa, and Taiwan.

US Customs and Border Protection will continue to collect AD and CAT cash deposits at the rates in effect at the time of entry for all imports of subject merchandise.

On 11 May 1999, US DOC published the CVD Order on Stainless Steel Plate in Coils from South Africa & on 21 1999, US DOC published the AD Orders on Stainless Steel Plate in Coils from Belgium, South Africa and Taiwan On 1 December 2021, US DOC published the initiation of the fourth sunset reviews of the orders and the ITC instituted its review of the orders. As a result of its reviews, US DOC determined that that revocation of the AD Orders would likely lead to a continuation or recurrence of dumping and that revocation of the CVD Order would likely lead to the continuation or recurrence of countervailable subsidies. US DOC, therefore, notified the ITC of the magnitude of the margins and net countervailable subsidy rates likely to prevail should the Orders be revoked. On 25 July 2022, the ITC published its determination that revocation of the Orders would likely lead to a continuation or recurrence of material injury to an industry in the United States within a reasonably foreseeable time.

The product covered by these Orders is certain stainless steel plate in coils. Stainless steel is alloy steel containing, by weight, 1.2% or less of carbon and 10.5% or more of chromium, with or without other elements. The subject plate products are flat-rolled products, 254mm or over in width and 4.75mm or more in thickness, in coils, and annealed or otherwise heat treated and pickled or otherwise descaled. The subject plate may also be further processed provided that it maintains the specified dimensions of plate following such processing. Excluded from the scope of these Orders are the following

1. Plate not in coils

2. Plate that is not annealed or otherwise heat treated and pickled or otherwise descaled

3. Sheet and strip

4. Flat bars

The merchandise subject to these Orders is currently classifiable in the Harmonized Tariff Schedule of the United States at subheadings: 7219.11.00.30, 7219.11.00.60, 7219.12.00.02, 7219.12.00.05, 7219.12.00.06, 7219.12.00.20, 7219.12.00.21, 7219.12.00.25, 7219.12.00.26, 7219.12.00.50, 7219.12.00.51, 7219.12.00.55, 7219.12.00.56, 7219.12.00.65, 7219.12.00.66, 7219.12.00.70, 7219.12.00.71, 7219.12.00.80, 7219.12.00.81, 7219.31.00.10, 7219.90.00.10, 7219.90.00.20, 7219.90.00.25, 7219.90.00.60, 7219.90.00.80, 7220.11.00.00, 7220.20.10.10, 7220.20.10.15, 7220.20.10.60, 7220.20.10.80, 7220.20.60.05, 7220.20.60.10, 7220.20.60.15, 7220.20.60.60, 7220.20.60.80, 7220.90.00.10, 7220.90.00.15, and 7220.90.00.60.
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Mannesmann Grossrohr Delivers Pipe for WAL LNG Pipeline in Germany

Strategic Research Institute
Published on :
9 Aug, 2022, 6:30 am

The construction of e Wilhelmshaven connecting pipeline that will import LNG via Wilhelmshaven and transport it to storage caverns in Etzel in the municipality of Friedeburg in Lower Saxon in Germany has commenced. The first pipes from Salzgitter AG’s subsidiary Mannesmann Grossrohr are already being supplied. Since the almost 30 km long pipeline is to be taken into operation before the year is out, the pipes were produced in the large-diameter pipe mill in Salzgitter before the end of the second quarter.

Salzgitter AG subsidiary Mannesmann Line Pipe GmbH is contributing additional pipes for the LNG project.

The pipeline from the new LNG terminal in Wilhelmshaven leads close by the Etzel cavern facility where it will be integrated into the existing German gas pipeline network. From there, initially up to 10 billion cubic meters of gas a year can be transported from the North Sea coast to the south and east of the country. In line with OGE requirements, the MGR line pipes are manufactured so as to enable hydrogen to be transported via the pipeline in the future.
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Sumitomo Develops Steel Wall Climbing Robots for Industrial Use

Strategic Research Institute
Published on :
9 Aug, 2022, 6:32 am

Shinagawa City Tokyo headquartered Sumitomo Heavy Industries has developed a novel robot capable of traveling over curved steel walls by magnetic adhesion. The achievement is part of a robot development project at Technology Research Center. In this project, Sumitomo invented a novel spherical wheel containing a magnet that can be rotated around two axes. Using this design, Sumitomo have developed a robot that can adapt and travel over curved surfaces that were not possible with conventional robots. In addition to traveling over curved walls, the new robot can also easily attach and detach from walls by changing the magnetic force direction and climb over corners without the need of any complicated controls. At present, Sumitomo is developing practical applications of the robot in inspection, cutting, and arc welding at manufacturing sites.

In manufacturing of large steel structures, tasks such as welding at heights and on curved surfaces are difficult to automate and require advanced skills. The newly developed robot can be used for such tasks and is expected to reduce the physical burden on workers, thereby creating safer and smarter next generation manufacturing sites.

Wheeled robots with magnetic adhesion are well known in manufacturing and maintenance of large steel structures like ships and industrial facilities. Most conventional wall climbing robots are designed for flat surfaces. To adapt such robots to curved surfaces, it is necessary to either make the robot smaller than the curvature of the surface, or design the robot to fit a particular surface shape and traveling direction. This means that these robots are limited in the range of surfaces they can travel on, the tasks they can perform, and the types of tools they can mount.
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AIC’s Robotic Tagging Station for Acindar Passes FAT

Strategic Research Institute
Published on :
9 Aug, 2022, 6:34 am

Leading Italian technology supplier AIC Capitanio Tailored Automation announced that Argentinian steel maker ArcelorMittal Acindar representatives visited ATS Mechatronics branch in Udine in Italy recently for running Factory Acceptance Tests on a new bundles robotic tagging station that will be installed in the Argentina site. A floor-mounted robot housed in a properly designed and manufactured industrial container that houses all the machinery in a climate-controlled and secure environment will be part of the solution that is specifically tailored to the needs of the customer.

All the tests were successfully completed in a dedicated space at our workshop along with the hardware and software infrastructure. The outcome reported a particularly positive result of the functionality of the safety controls, seamless tagging movements and advanced data collection & process monitoring algorithms.

Adopting this solution will significantly reduce risk factors as robot will handle the most time-consuming and dangerous manufacturing tasks while keeping workers safer and ensuring short cycle times in a small footprint.

This will be the first solution for the South American market, and it will be installed at the rolling mill's finishing end area. The robotic island will now be shipped and on-site commissioning will be implemented in the next few months.

AIC Capitanio Tailored Automation is a global system integrator that designs, manufactures and commissions’ turn-key plants worldwide, providing advanced and tailored automation and mechatronics solutions for the steel industry, with the aim to continuously improve efficiencies, competitiveness and safety of the production processes.

Acindar Industria Argentina is a steel company that produces long steel that supplies the civil construction, oil, energy, automotive, agricultural and industry sectors in general with the main goal of making steel more sustainable. With more than 75 years of history in the country, it has become a leader in its domestic market adding an international presence.
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EMR’s New King George V West Quay Receives First Vessel

Strategic Research Institute
Published on :
9 Aug, 2022, 6:35 am

World’s leading British scrap supplier European Metal Recycling has received first deep sea 33,000 tonne vessel MV Elpis at EMR’s new deep-sea dock at King George V West Quay in Glasgow in Scotland in UK. The eight acres dock, opened in April, is designed to lower logistics costs, cut carbon emissions and result in more competitive prices for customers. The operation will target eight deep-sea ships with capacity to carry cargo up to 30,000 tonnes each in the first 12 months.

The first phase of the development will be a site of nearly eight acres that houses an end-of-life vehicle processing facility, supported by a new vehicle collection network.

The second phase is currently in the planning stage, with designs being drawn up to increase the size of the site by 50% and add advanced ELV recycling, processing and metal/waste separation capability.
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Hoa Phat Leverages Rebar Exports to Compensate Domestic Slowdown

Strategic Research Institute
Published on :
9 Aug, 2022, 6:37 am

Vietnamese steel giant Hoa Phat announced that the sales volume of billet products, construction steel and hot rolled coil reached 526,000 tonnes in July 2022, equivalent to July 2021. In which, construction steel contributed 372,000 tonnes, up by 2% YoY even though the domestic steel market continued to struggle due to sluggish demand, and the weather entered the rainy season. Hoa Phat’s construction steel export output recorded 147,000 tonnes, an increase of 81% YoY more than compensating domestic sales.

Hoa Phat’s hot rolled coil sales reached 150,000 tonnes in July, down 5% YoY but downstream products such as steel pipe & galvanized sheet reached 60,000 tonnes & 18,000 tonne respectively, up 38% YoY

In the 7 months of 2022, Hoa Phat Group produced 4.9 million tonnes of crude steel, representing a 5% YoY growth. The sales volume of construction steel, billet, and HRC reached over 4.5 million tonnes of steel of various types, up 5% YoY. In which, construction steel is 2.7 million tonnes, up 25% YoY & HRC production contributed nearly 1.6 million tonnes, an increase of 6% YoY. In addition, Hoa Phat supplied 437,000 tonnes of steel pipes and 198,000 tonnes of galvanized steel, slight increase compared to the same period last year.

Hoa Phat currently has a crude steel capacity of 8.5 million tonnes per year. Hoa Phat's construction steel and steel pipe holds the No1 market share in Vietnam, with 36.2% and 28.8% respectively. The Group not only serves the domestic market but also exports steel products to more than 20 countries around the world to diversify the consumption market.
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India’s Coking Coal Imports up 9% in Apr-Jul 2022

Strategic Research Institute
Published on :
9 Aug, 2022, 6:38 am

Indian Ports Association’s latest data reveals that India's coking coal imports through all major ports in the country during the April-July 2022 were 18.23 million tonnes, up 9% YoY

SMP Kolkata - 6.30 million tonnes, up by 35% YoY

Paradip - 4.82 million tonnes, down by 4% YoY

Mormugao - 2.09 million tonnes, down by 13% YoY

Visakhapatnam - 2.03 million tonnes, up by 22% YoY

VO Chidambaranar - 2.02 million tonnes, up by 28757% YoY

Kamarajar Ennore -0.62 million tonnes, up by 15% YoY

New Mangalore - 0.22 million tonnes, down by 35% YoY

Deendayal -0.15 million tonnes, down by 31% YoY
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HBIS & BMW Ink MoU to Build Green Low Carbon Steel Supply Chain

Strategic Research Institute
Published on :
9 Aug, 2022, 6:40 am

China’s second largest state owned steel maker HBIS Group & global auto giant BMW Group have signed Memorandum of Cooperation on Building Green Low Carbon Steel Supply Chain in Shenyang in China. Both sides have agreed to carry out comprehensive and long-term cooperation in sustainable development and jointly build a green low carbon steel supply chain. Going forward, the two sides will work together to create a model of cooperation featuring Deep Integration and Green Development of industrial chains, and provide better solutions to global climate change and make greater contributions.

According to the MoU, the two sides will jointly build the supply chain of green low carbon steel materials, develop low-carbon and green automotive steel materials and complete relevant certification based on the research and development and use of green and low carbon steel materials and BMW's low-carbon base on steel materials. From mid-2023, BMW's Shenyang production base will gradually use the HBIS low-carbon automotive steel for its mass-produced models. These low carbon steels produce 10-30% less CO2 than conventional steels. From 2026, BMW Shenyang production base will start to use low carbon steels in the mass production process of whole vehicles. Based on processes such as green electricity and electric furnaces, the production of low carbon steels will gradually reduce CO2 emissions by 95%. Under the current procurement plan, CO2 emissions are expected to be reduced by about 230,000 tonnes per year from 2026.

HBIS and BMW will also jointly establish a docking and exchange mechanism, actively promote the integration of talent, strategy, management and culture, and maintain and develop their respective leading advantages in the industry. In the whole life cycle of automotive steel products, both sides will conduct periodic evaluation of carbon emission data in a fully transparent manner, including from iron ore mining to steel products in HBIS subsidiaries, and from automotive steel to car scrapping in BMW Brilliance, these carbon emission data will be recorded one by one. The two sides will actively carry out research, development and application of carbon negative technologies such as clean energy, and commit to the development of carbon neutral automotive steel.

HBIS subsidiaries, Zhangxuan Tech took the lead in launching the world's first 1.2 million tonnes hydrogen metallurgy demonstration project. Tangsteel New District and Shigsteel New District are models of green transformation, whose contribute to the comprehensive realization of green, low carbon and sustainable development of the steel industry in China and even the world.

The steel used to make a mid-size Battery Electric Vehicle is estimated to account for about 20% of the carbon emissions at the end of the vehicle's supply chains, second only to high-voltage batteries 26% and light metals 23%. Therefore, the production and use of green steel is one of the effective levers to reduce CO2 emissions in the whole life cycle of vehicles.
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SAIL Charting Mega Expansion Plans

Strategic Research Institute
Published on :
9 Aug, 2022, 6:43 am

India’s Minister of State for Steel Mr Faggan Singh Kulaste informed the Upper House of Indian Parliament that the current crude steel production capacity of Steel Authority of India Limited is 20.63 million tonne per annum & that SAIL has planned to raise their crude steel production capacity to 35 million tonne per annum by 2030-31. The proposed scale of indicative investment by SAIL to reach the capacity of around 35 million tonnes per annum of crude steel will be around INR 110,000 crore (USD 14 billion).

Mr Kulaste informed “The projects for expansion of capacity for SAIL are financed through a combination of debt and equity which is normally in the ratio of 1:1. The project planning has to go through the preparatory stage before arriving at the stage of execution, where the expenditure is incurred. Since these projects are at preparatory stage, expenditure towards execution of these projects has not incurred.”

He added that he land bank study is in progress & preliminary study indicates availability of land for the expansion project envisaged in the first phase.

He also said “The intent of New Public Sector Enterprise Policy is to minimize the presence of Government in the Public Sector Enterprises. To make available newer investment opportunities for private sector so as to allow infusion of private capital, technology, innovation and best management practices, allowing public sector to take over or bid for another public sector identified for disinvestment will defeat the purpose. Therefore, it is not possible for SAIL to participate in the bid to acquire RINL.”
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India Posts Double Digit Growth in Steel Consumption in July

Strategic Research Institute
Published on :
9 Aug, 2022, 6:46 am

According to the provisional data from the Steel Ministry's Joint Plant Committee, despite severe dip in exports to three year low & surge in imports resulting in net imports, Indian steel sector has continued to perform well in July 2022 by reporting double digit growth in finished steel production & consumption

Crude Steel - 9.97 million tonne, up 2% YoY

Finished Steel - 9.66 million tonne, up 10% YoY

Imports - 0.44 million tonne, up 8% YoY

Exports -0.38 million tonne, down 75% YoY

Consumption - 9.17 million tonne, up 14% YoY

Crude Steel Production July 2022

AM/NS India, JSW & JSPL - 2.80 million tonne, up 6% YoY

Tata Steel - 1.67 million tonne, up 1% YoY

SAIL - 1.39 million tonne, down 7% YoY

RINL - 0.25 million tonne, down 48% YoY

Others -3.86 million tonne, up 11% YoY

April—July 2022

Crude Steel - 40.95 million tonne, up 9% YoY

Finished Steel - 38.55 million tonne, up 9% YoY

Imports - 1.62 million tonne, up 3% YoY

Exports - 2.57 million tonne, down 49% YoY

Consumption - 36.53 million tonne, up 11% YoY
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Russian Deputy PM Seeks to Cut Tax Burden on Steel Industry

Strategic Research Institute
Published on :
9 Aug, 2022, 6:49 am

Interfax Russia reported that Russia’s Deputy Prime Minister and Minister of Industry & Trade Mr Denis Manturov at a meeting on the metallurgical sector's development chaired by Russian President Mr Vladimir Putin said that the tax burden on the Russian steel industry needs to be eased by adjusting the excise tax on liquid steel and revising mineral extraction tax or MET for iron ore and coal.. He said “Firstly we believe it is necessary to reduce the fiscal burden, which was introduced last year on a wave of windfall profits. The situation has now changed dramatically. In this regard, I would ask you to back our initiative to adjust the excise tax on liquid steel. This has today essentially become not a tax on income, but one on turnover which the sector did not previously have.

Mr Manturov added “This was certainly justified when prices spiked, but now we propose to return to this issue, amid ongoing decline in capacity utilization and the performance indicators of the enterprises themselves. Now the export margins of Russian metallurgists are not as high as they were a year ago, and world steel prices are falling sharply, so metallurgists are also forced to work at a discount in new markets.”

He also spoke of the need to revise the formula for calculating MET for iron ore and coking coal for each enterprise, taking their specifics into consideration.
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JSW Steel Chairman Reaffirms CAPEX to Match Potential

Strategic Research Institute
Published on :
9 Aug, 2022, 6:51 am

JSW Steel’s Chairman Mr Sajjan Jindal in an address to shareholders assured that backed by a favorable investment climate, conducive policies and inherent structural strengths of the economy, India is well-poised to grow rapidly and become a crucial part of the global supply chain, with steel playing a pivotal role in this evolving growth story and JSW Steel is well positioned to capitalize on global and domestic opportunities that come with it. Mr Jindal informed that •the total planned Capex for the next three years is INR 48,700 crores, which includes INR 20,000 crores planned for 2022-23.

Mr Jindal stated that as a cost-competitive exporter of steel, India has an opportunity to take on a larger role in the global steel trade, aided by the government's continued thrust on manufacturing-led growth and merchandise exports and that JSW Steel is also expanding its India capacity in a phased manner to tap into these opportunities. Mr. Jindal explained that the export duties imposed on steel in May 2022 is a significant, but short-term headwind and that JSW Steel continues to engage with the government on this matter and believes that the duties were imposed only to rein in inflation and will be withdrawn once inflation moderates. The steel industry through the Indian Steel Association is constructively engaging with the government on this matter.

JSW Steel's performance in 2021-22 was another year of record financial performance with revenues growing by 83%, highest-ever EBITDA and PAT, each growing by 94% and 166%, respectively. Crude steel production for the year, at 19.51 million tonnes, was up 29%, with contributions from the Bhushan Power and Steel acquisition and Dolvi Phase-2 expansion for part of the year. The Company continued to focus on high-margin, value-added products, which accounted for 60% of sales. The average capacity utilization during 2021-22 without the Dolvi expansion was 94% and 89% including the Dolvi expansion. The last year exports share was 28% as JSW Steel exported its products to various countries in South America, Europe, Africa, Middle East & Southeast Asia.

All the recent acquisitions Asian Colour Coated, Vallabh Tinplate, Bhushan Power & Steel, and JSW Ispat Special Products, delivered robust performance during the year. The biggest highlight, however, was the commissioning of the Dolvi Phase-2 project of 5 million tonnes per annum. It is the largest expansion of its kind in the Indian Steel Industry's history, and essentially doubles the steelmaking capacity at Dolvi.

World Steel Association has recognized JSW Steel as a Sustainability Champion for the fourth year in a row; JSW Steel has been included in the Dow Jones Sustainability Index for Emerging Markets; and, CDP has retained JSW Steel's leadership level rating of A-minus.
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US scrap market to settle at lower levels
213 Views

After kicking off last week, US scrap trading is expected to settle during the first half of the current week, but suppliers are seen resisting lowering prices, Kallanish notes.

Towards the end of last week, a US producer gave a bid for cut grades and busheling at a $30/gross ton and $70/t discount respectively. However, suppliers are seen resisting these discounts, specifically the $70/gt discount on prime grades.

“This is a sharp decrease and carries busheling prices below shredded in some regions,” says a scrap supplier.

Most market participants expect US prices to settle within 2-3 days, with cut grades and shredded expected to fall by $20-30/gt and prime grades by $50-70/gt from July prices.

On the West Coast, buying interest for US-origin containerised HMS 1&2 80:20 remains weak. Japanese scrap is attracting more attention after its spread to US prices narrowed to almost zero. While buyers’ price ideas for US material do not exceed $320-325/tonne cfr Taiwan, US suppliers are seen targeting higher levels, at above $335/t cfr, following the rebound in Turkey last week and yen appreciation.

On the East Coast, US suppliers are increasing their price targets in Turkey despite the decline in the US domestic market. Offers in the market are scarce, and US suppliers are seen targeting to sell HMS 1&2 80:20 at above $400/t cfr Turkey. On Monday, there were rumours of a US-origin HMS 1&2 80:20 sale at $388/t cfr being done last week. This is, however, denied by the seller.

Burcak Alpman Turkey
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US DOC Fixes AD Duty on PC Wire Imports from Siam Industrial Wire

Strategic Research Institute
Published on :
10 Aug, 2022, 6:09 am

The US Department of Commerce has determined that The Siam Industrial Wire made sales of prestressed concrete steel wire strand in the United States at prices below normal value during the period of review of 1 January 2020 to 31 December 2020. US DOC determined that 0.98% weighted-average dumping margin exists for Siam Industrial Wire

On 4 February 2022, US DOC published the Preliminary Results of the 2020 administrative review of the antidumping duty order on prestressed concrete steel wire strandfrom Thailand. US DOC invited interested parties to comment on the Preliminary Results. On 31 May 2022, US DOC extended the deadline for the final results of this administrative review until 3 August 2022.
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Mexico Starts AD Duty Probe on CR Steel Imports from Vietnam

Strategic Research Institute
Published on :
10 Aug, 2022, 6:16 am

The Mexican Secretariat of Economy has announced an anti-dumping investigation into cold-rolled steel imported from Vietnam. After officially initiating the case, the Mexican investigation agency sent questionnaires to relevant businesses for responses before 6 September, but the deadline may be extended. The agency is expected to issue a preliminary decision within 130 days after the initiation of the investigation.

The investigated products are classified under HS codes 7209.16.01, 7209.17.01, 7209.18.01, 7209.26.01, 7209.27.01, 7209.28.01, 7209.90.99, 7211.23.03, 7211.29.99, 7211.90.99, 7225.50.07, and 7226.92.06.

Vietnam has earned USD 220 million from exporting steel to Mexico in 2020, mostly those coded HS 7209 and 7210, an increase of 70% compared to 2019. The export earnings of cold rolled steel which are under investigation reached USD 50 million.
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LB Foster Reports Results for H1 of 2022

Strategic Research Institute
Published on :
10 Aug, 2022, 6:18 am

Pittsburgh headquartered provider of products and services for the rail and infrastructure markets LB Foster Company has reported that net sales for the first six months of 2022 were USD 230.3 million, a USD 40.3 million decrease, or 14.9%, compared to the prior year period. LB Foster’s President &Chief Executive Officer Mr John Kasel said “The results delivered in the second quarter reflect the positive momentum we're building through the execution of our strategic playbook. As expected, net sales in the quarter grew nearly 33% sequentially and were only slightly below last year, adjusted for the Piling divestiture, despite the significant operating challenges in today's industrial markets. We are particularly pleased by our robust order rates.”

Steel Products and Measurement segment net sales declined by USDD 36.7 million, or 44.3%, due to the Piling divestiture in September 2021 with USD 42.9 million in sales in last year's six months. The USD 9.5 million, or 6.1%, decrease in the Rail segment was attributable to the Rail Products business unit. The Precast segment had a USD 5.9 million, or 17.9%, increase in sales associated with its southern and northeastern US regions. The Steel Products and Measurement segment sales grew by 15.6% excluding the Piling division. Excluding the divested Piling division, net sales1 increased 1.1% from the prior year.

Net income for the first six months of 2022 was USD 0.4 million, compared to USD 1.6 million in the prior year period. Adjusted EBITDA1 for the first six months of 2022 was USD 7.4 million, a 33.3% decrease compared to the prior year period. Excluding the Piling business, Adjusted EBITDA decreased 23.8% from the prior year-to-date period.
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Brazil Opens Sunset Review on AD Duty on Wire Imports from China

Strategic Research Institute
Published on :
10 Aug, 2022, 6:20 am

Brazil's Ministry of Economy has has initiated sunset review of the antidumping duty on high-carbon, high-strength, circular-section, cold-hardened steel wire imports from China. The ministry stated that there are indications that expiry of the antidumping duties would very likely lead to the continuation of dumping of Chinese exports of the product subject to the antidumping duty.

The current duties imposed initially in July 2017 stand at USD 124.33-563.77 per tonne

The product subject to the review currently falls under Customs Tariff Statistics Position Numbers 7217.10.19 and 7217.10.90.
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SeAH Changwon Integrated Special Steel Establishes JV with Aramco

Strategic Research Institute
Published on :
10 Aug, 2022, 6:22 am

South Korean SeAH Changwon Integrated Special Steel & Saudi Arabia’s Oil & Gas giant Aramco’s joint venture SeAH Gulf Special Steel Industries has completed the establishment. The JV has set up a seamless stainless steel pipe and tube plant in in partnership with Aramco’s Saudi Arabian Industrial Investments Dussur. SeAH Gulf Special Steel Industries will invest USD 230 million to build a plant in King Salman Energy Park SPARK, a new city being developed as an international hub for the energy industry in the eastern part of Saudi Arabia. The plant will produce 17,000 tonnes of high value-added seamless stainless steel pipes and tubes annually. Ground will be broken in the fourth quarter of this year, with commercial production scheduled for the first half of 2025.

Meanwhile, SeAH Group’s four products, including stainless steel precision pipe products from subsidiaries CT and Inox Tech stainless welding steel pipes have obtained a new vendor certificate from Aramco. SeAH Group is targeting the Middle East market as well as large-scale national projects in Saudi Arabia.
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