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voda 28 september 2022 08:24

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High Court Reinstates CVD on CR Stainless Steel Coils from China

Strategic Research Institute
Published on :
28 Sep, 2022, 6:14 am

The Gujarat High Court in Real Strips v Union of India has held that rescinding the CVD on the imports of Cold Rolled Stainlees Steel Coils from China via Impugned Notification dated 1 February 2022 was an illegal and irregular exercise of powers by the Central Government and the process of ongoing sunset review investigation could not have been disregarded while issuing such notification. The High Court ordered that the levy of CVD would continue even though the original Notification dated 7 September 2017 has outlived its five years.

India had imposed definitive countervailing duty on the imports of Cold Rolled Stainless Steel Coils from China on 4 September 2017 for 5 years and was to continue till 6 September 2022. On 1 February 2021, the Central Government issued a Customs Notification suspending the CVD, first till 30 September 2021 and again till 31 January 2022 vide another notification. This opened the doors of imports from China of CRSS Coils thereby giving competition to the domestic manufacturers of CRSS Coils.

In the meantime, a sunset review investigation was initiated by the Director General Trade Remedies vide Notification dated 8 October 2021 on an application filed by the domestic manufacturers of Cold Rolled Stainless Steel Coils.

The Petitioner Real Strips is a manufacturer of Cold Rolled Stainless Steel Coils.

voda 28 september 2022 08:26

0

Schuler & OTORIO Launch Cyber Security Check for Metalworking Firm

Strategic Research Institute
Published on :
28 Sep, 2022, 6:16 am

German steel forming technology supplier Schuler and technology partner OTORIO are offering data protection solutions for theft, damage, and production downtime as companies within the metalworking industry are increasingly becoming targets of hacker attacks. Schuler and OTORIO have developed various solutions for effective protection against such attacks against Schuler and third-party systems under the name Cyber Security Check.

Schuler and OTORIO initially conduct an inventory of the equipment and the entire production network to prevent these occurrences. Gaps in the security situation are identified and then the risks are prioritized according to their impact on business processes as well as other components. Schuler and OTORIO provide clear, practical recommendations for the step-by-step elimination of each identified vulnerability, security gap, hazard, and compliance deviation. This approach enables compliance with digital security policies, best practices, and regulations.

Founded in 1839, Schuler is a German company headquartered in Göppingen in Baden-Württemberg, which operates in the field of forming technology and is the world's largest manufacturer of presses. The presses are used to create car body sheets and other car parts as well as items such as beverage and aerosol cans, coins, sinks, large pipes, and parts for electric motors. The company has production sites in Germany, Switzerland, Brazil, USA and China and in addition to the automotive industry and its suppliers, it also supplies the household appliances and electrical industry, the forging, energy, aerospace and railway industries as well as mints.

voda 28 september 2022 08:26

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Phoenix Services Topco Files for Chapter 11 Bankruptcy

Strategic Research Institute
Published on :
28 Sep, 2022, 6:18 am

Radnor Pennsylvania headquartered steel mill service provider Phoenix Services Topco, with approximately 2,600 employees, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware reporting USD 500 million to USD 1 billion in both assets and liabilities in an attempt to renegotiate customer contracts it says have become unprofitable due to recent economic pressures. According to the First Day Declaration, the company will seek approval of DIP financing from an ad hoc group of first-lien lenders, which includes up to USD 50 million in new money and a USD 150 million roll up. Under the terms of the proposed DIP, the deadline to confirm a plan of reorganization is 155 days from the petition date or 1 March 2023.

In court filing it said “Phoenix’s contract portfolio has recently become unsustainable due to inflationary pressures and rising fuel costs, coupled with suboptimal contract terms. Phoenix has also encountered operational challenges at customer sites, including equipment failures and management turnover. The contracts and operational challenges, in turn, have placed a significant strain on the debtors’ liquidity, which was further weakened by capital lease payments, rising interest rates, and increased capital expenditures.”

It said “The company has developed a strategy to renegotiate or terminate unprofitable contracts and emerge from bankruptcy in March 2023 “as a going concern with a sustainable and profitable contract portfolio.”

To assist in the process, Phoenix has retained legal counsel from Weil Gotshal & Manges and Richards, Layton & Finger. The company has also hired AlixPartners as a financial advisor and PJT Partners LP as an investment banker.

Phoenix is controlled by an affiliate of Apollo Global Management following a 2017 acquisition. Phoenix specializes in removing and handling molten slag that has been separated from steel. The company, which operates at 39 customer sites, also prepares and transports metal scraps, raw materials and finished products.

voda 28 september 2022 08:27

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Algoma Steel Cuts Second Quarter 2023 Guidance

Strategic Research Institute
Published on :
28 Sep, 2022, 6:21 am

Sault Ste Marie Ontario based Canadian producer of hot and cold rolled steel sheet and plates Algoma Steel said that fiscal second quarter 2023 Adjusted EBITDA is expected to be in a range of CAD 75-80 million. Algoma Steel CEO Mr Michael Garcia said “Our projected fiscal second-quarter results largely reflect previously disclosed operational challenges, as well as the continued decline in prices for our finished products, both of which had a negative impact on overall profitability.”

Mr Garcia continued “In the quarter we experienced a production shortfall due to various operational challenges, resulting in a decline in shipments to an estimated 415,000-425,000 tons for the quarter. The most significant of these challenges was the previously disclosed plate mill modernization commissioning delay. Additionally, volume through our direct strip production complex was negatively affected by production shortfalls mainly due to temporary workforce availability events. We are implementing various measures to address these issues. We believe most plate mill issues are behind us and we are now operating above 80% capacity. We continue to work with our vendor on mill automation software to reach our full product lineup and capacity. With respect to the coal conveyor that was damaged by fire in the quarter resulting in higher costs, repair work is expected to be completed in early October, allowing internal coke production to return to 100% capacity.”

Mr Garcia added “Amid the challenges faced in the quarter, we continue to see steady demand for our products and are advancing the development and construction of our transformative Electric Arc Furnace project, which remains on time and on budget for a mid-year 2024 start-up. Additionally, we are pleased to have reached a labour agreement with our unionized workforce that provides labour security for the next five years. With a robust balance sheet, a continued strong cash generating outlook, and a prudent capital return program, we believe we are well positioned to address these near-term obstacles and deliver long-term value creation for all of our stakeholders.”

Algoma is a fully integrated producer of hot and cold rolled steel products including sheet and plate. Its raw steel production capacity of an estimated 2.8 million tons per year.

voda 28 september 2022 08:28

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West Bengal Steel Mills Cutting Production on High Power Tariff

Strategic Research Institute
Published on :
28 Sep, 2022, 6:22 am

PTI reported that steel and ferroalloy units in West Bengal have alleged that their plants are becoming uncompetitive due to sudden rise in power tariff by DVC as these entities started regulating production by 30-40% to manage cost. DVC Power Consumers of West Bengal President Mr Subhas Chandra Agarwalla said “The tariff of Damodar Valley Corporation is now INR 6.5 per unit in West Bengal, which is higher by INR 2 than that in neighbouring Jharkhand. The sudden rise in tariff on two accounts- arrear collection for three years and impact of imported coal meant for blending as per a government directive are hurting these companies. The cost of steel making in Bengal is higher by INR 2,000 per tonne and around INR 10,000 per tonne for ferroalloys due to the jump in power tariff. Our products are getting uncompetitive in the market when we compare with Jharkhand. These units are on the verge of closure.”

Steel Re-Rolling Mills Association Chairman Mr Vivek Adukia added “Already 34 of 135 units of the body have declared that they would reduce power consumption by 30-40% from 1 October as production would get regulated in the wake of the uncompetitive power tariff. Apart from the high tariff of INR 6.5 a unit, DVC had earlier sent us notice to recover an arrear of INR 1,500 crore linked to a period from 2017-18 to 2019-20.”

Situated in the Damodar river valley, the steel companies, mostly micro, small and medium enterprises, are concentrated in Asansol–Durgapur region in Paschim Burdwan district, Barjora and Mejia in Bankura and Sarbari area in Purulia. Around 50,000 workers are dependent on these units. DVC is the main electricity provider for these steel and ferroalloy units in the region.

voda 28 september 2022 08:28

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BaoSteel’s TISCO Develops Stainless Steel for Tanks of LNG Carriers

Strategic Research Institute
Published on :
28 Sep, 2022, 6:24 am

Chinese steel giant BaoSteel’s TISCO has launched the first MARK-III stainless steel products for the film type enclosure system of the liquefied natural gas carrier’s tanks. It has been passed the French tank designer GTT certification and has become the first supplier in China & the third one in the world with such qualification.

The products' flatness, surface quality, low-temperature performance, and all other indicators had fully met the GTT requirements and successfully obtained the GTT approval certificate and a number of foreign classification society certifications.

LNG storage & transportation system requires minus 162 degrees Celsius, which in turn puts extremely strict requirements on the basic materials of the equipment.

voda 28 september 2022 08:30

0

Framatome Installs 3D Printed Stainless Steel Part at Forsmark NPP

Strategic Research Institute
Published on :
28 Sep, 2022, 6:26 am

French multinational nuclear company Framatome has completed installation of the first 3D-printed, stainless steel fuel component at the Forsmark Nuclear Power Plant, operated by Vattenfall in Sweden. In collaboration with KSB SE & Co, the ATRIUM 11 upper tie plate grids were designed, manufactured, and installed in Forsmark Unit 3 for a multi-year irradiation program. Located at the top of the ATRIUM 11 fuel assembly, the upper tie plate grid is a non-structural weight-bearing component that secures fuel rods and retains larger debris from entering the fuel assembly from the top. Upper tie plate grids are easily inspected, and samples are accessible for qualifying this new manufacturing process for in-reactor use as needed.

During the conventional manufacturing process, upper tie plate grids are laser welded, using stamped comb-like sheets that require additional manufacturing steps and operator oversight. Additive manufacturing streamlines the manufacturing process and increases design options for enhanced functionality and improved performance.

Framatome’s initiative to introduce additive manufacturing to nuclear fuel began in 2015 and is focused on stainless steel and nickel-based alloy fuel assembly components. In 2021, a 3D-printed stainless steel fuel assembly channel fastener created by Framatome in collaboration with Oak Ridge National Laboratory was loaded in a US commercial BWR nuclear power plant. Framatome fuel experts in France, Germany and the US developed this technology in close collaboration with customers worldwide.

Framatome is an international leader in nuclear energy recognized for it’s innovative, digital and value added solutions for the global nuclear fleet. With worldwide expertise and a proven track record for reliability and performance, the company designs, services and installs components, fuel, and instrumentation and control systems for nuclear power plants.

Bijlage:

voda 28 september 2022 08:35

0

Vietnam’s Steel Exports to China Shrink in Jan-Aug’22

Strategic Research Institute
Published on :
28 Sep, 2022, 6:28 am

Saigon Times reported that Vietnam’s General Department of Vietnam Customs data shows that China is no longer a major export market for Vietnamese-made steel. Vietnam exported 514,000 tonnes of steel in August, with a total value of around USD 458 million, down 16.3% in volume and 29% in revenue over July. This revenue was a record low since June 2020.

Vietnam’s steel exports reached 5.9 million tonnes and brought USD 6.08 billion, a drop of 30.3% in quantity and 13.4% in earnings over the same period last year. Of this, steel exports to China plunged in January-August, down 95% in volume and turnover against the same period last year, with 93,400 tonnes and USD 55 million. Steel exports China had declined by 1.65 million tonnes and USD 1 billion in the year to end-August, eliminating it from the 10 largest export markets for Vietnamese steel.

Meanwhile, in the first eight months, steel exports to other major markets, such as Europe and the United States, turned volatile. The past two months have seen a sharp plunge in steel sales to these markets. According to the General Department of Vietnam Customs, steel exports to the US between January and August decreased 15.6% to 453,000 tonnes, while exports to the European market edged up 0.8% to 1.13 million tonnes.

voda 28 september 2022 08:35

0

Tenaris Inaugurates Pipe Plant in Ste Marie in Ontario in Canada

Strategic Research Institute
Published on :
28 Sep, 2022, 6:30 am

Federal, provincial, and municipal officials joined Tenaris executives, customers, and employees, to mark the culmination of CAD 150 million in investments in Sault Ste Marie in Ontario to transform the company’s industrial footprint in Canada by centralizing its pipe manufacturing operations, seamless and ERW under one roof. Tenaris Chairman & CEO Mr Paolo Rocca said “We have enhanced our portfolio of made-in-Canada solutions to better serve domestic customers, providing an unparalleled security of supply and product diversity with a robust industrial system that is strengthened by our global capabilities.”

The investments include a new premium threading line providing a full range of pipe connection threads, from API to premium, such as TenarisHydril Blue® and Wedge series, expanded capacity for sour service steel grades and new pipe diameters. The new electric resistance weld pipe manufacturing line extends Tenaris’s product offer of welded pipe products with new steel grades, extended sizes, and premium connections. Safety, automation, and digitalization improvements were also integrated into the existing operations.

The company’s new pipe manufacturing hub, with a capacity to produce 220,000 tons of ERW and 400,000 tons of seamless OCTG, is supported by Tenaris’s threading facility in Nisku, AB, pipe service centres in Alberta, Saskatchewan and Newfoundland and Labrador, and served by its direct mill-to-customer rig logistics solutions known as Rig Direct®.

voda 28 september 2022 08:36

0

Gibraltar Sells TMK’s Mr Pumpyansky MV Axioma Yacht

Strategic Research Institute
Published on :
28 Sep, 2022, 6:33 am

Gibraltar has sold 72 meters super yacht Malta flagged MV Axioma belonging to Russian oligarch & head of Russia’s biggest pipe maker TMK Mr Dmitry Pumpyansky for USD 37.5 million in an auction, which attracted 63 bids. The funds raised will be used to compensate the oligarch’s creditors. Any creditors will now have 60 days to make a claim against the proceeds of the sale, and the court will decide how the money is distributed. It will also determine the fate of any leftover funds.

In December 2021, JP Morgan granted a loan of EUR 20.5 million to a company registered in the British Virgin Islands whose shareholders included a Cypriot firm owned by Mr Pumpyansky. But the bank saw Mr Pumpyansky’s inclusion on Britain’s sanctions list as a breach of the loan contract since it led to the freezing of his assets. Pyrene Investments broke the terms of the loan after Mr Pumpyansky transferred his interests in Furdberg to a third party on 4 March and was subsequently fined, preventing the loan's repayment. JP Morgan asked the Gibraltar authorities to seize the yacht which was listed as one of the loan guarantees, and requested it be sold to repay the loan.

MV Axioma was seized on 22 March 2022 following a complaint filed by the US bank JP Morgan after Mr Pumpyansky was added to the list of tycoons targeted by EU and UK sanctions after Russia invaded Ukraine in February. Mr Pumpyansky, 58, served as the owner and chairman of OAO TMK, a supplier of steel pipes to the Russian energy giant Gazprom, until March. According to Forbes magazine, he is worth an estimated USD 2 billion.

Authorities in Spain, Italy and France have all impounded yachts linked to Russian oligarchs known for ties to Mr Vladimir Putin as part of European efforts to pressure the Russian leader.

1. The Amore Vero

2. Dilbar

3. ICE

4. Quantum Blue

5. Nirvana

6. Eclipse

7. Solaris

8. Graceful

9. Scheherazade

10. Stella Maris

11. Sailing Yacht A

voda 28 september 2022 08:36

0

Auto Steel Supplier Bharat Forge Kilsta Hit by Electricity Prices

Strategic Research Institute
Published on :
28 Sep, 2022, 6:34 am

Samnytt reported that the electricity crisis has hit auto steel forging company Bharat Forge in Karlskoga in Sweden as it risks being forced to shut down operations. The furnaces at Bharat Forge are electric and consume about 60,000 megawatt hours per year. The high electricity prices have increased production costs by many millions in a short time. Now there is panic within the company both among the management and among the employees.

Bharat Forge Site Manager Mr Niklas Blom said “We cannot bear these costs, it is completely impossible. Continued production depends on negotiating new agreements with customers, which is a challenge as companies can always choose to place production in other countries. Production can be moved to low-wage countries.”

Two water-driven hammers were erected at the Bofors Boo river in 1646 and was was owned by Mr Alfred Nobel until 1896. Bharat Forge acquired Imatra Kilsta AB along with its wholly owned subsidiary, Scottish Stampings in Scotland in 1997. The company name was changed to Bharat Forge Kilsta AB. Bharat Forge in Karlskoga manufactures, among other things, crankshafts and front axle beams for Volvo and Scania.

voda 28 september 2022 08:37

0

POSCO Stabilizing Stainless Steel Supply Chain

Strategic Research Institute
Published on :
28 Sep, 2022, 6:37 am

Korea Herald reported that South Korean steel giant POSCO is making an all-out effort to stabilize the supply chains for stainless steel products after production at its steel mills in Pohang in North Gyeongsang Province was hit by a recent flood. POSCO plans to covert export-oriented products into those for the domestic market in an effort to prevent a glitch in local supply chains. POSCO official said “By the end of this year, we need to supply 326,000 tonnes of stainless steel for local clients. Currently, the inventory in the market stands at 324,000 tonnes, while Posco alone holds 86,000 tonnes. And there are some 104,000 tonnes of replacements.”

As part of efforts to stabilize the local supply, Posco also plans to closely coordinate with Gwangyang Steel Mill in South Jeolla Province and its overseas factories in China and Thailand. In preemptive measures, it is extending business ties with local and foreign stainless steel makers. When it comes to stainless steel thick plates, it is working with local producers, while talks are ongoing with overseas partners to secure stainless steel for vehicle exhaust systems.

Stainless steel products were among those hit hard by a recent typhoon, but POSCO has predicted a limited impact as they are resistant to water and corrosion.

POSCO added its second cold-rolled mill for stainless steel is expected to resume production by December.

voda 28 september 2022 08:38

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European Plate Rollers Call for No Sanctions on Russian Slabs

Strategic Research Institute
Published on :
28 Sep, 2022, 6:39 am

After media reports suggested that the European Commission is considering a ban on the import of semi-finished products from Russia, European plate rollers have said that the ban on the import of Russian semi-finished products will lead to severe disorganization of the regional market for heavy plates. The letter to the European Commission was signed by Rerollers Platform members Marcegaglia, Pittini, Officine Tecnosider, Laminoirs des Landes, Vitkovice Steel, Network Steel, Duferco, Dunaferr and NLMK Belgium Holdings. They wrote “Instrumentalising political arguments in what is essentially an economic and competitive issue, integrated producer’s are promoting an import ban on semi-finished steel products from Russia, trying to push the rerolling business out of the market.”

Previously, 80% of steel semi-finished products imported to the EU were produced in the Russian Federation or Ukraine. Rerollers do not see an alternative to Russian products, arguing that European plants and producers from third countries cannot provide stable supplies. Several sanctioned plants in Iran and American producers supplying the US and Mexican markets are considering as available alternatives.

To date, the EU has imposed sanctions against Russian supplies of finished metal products, but did not touch the supply of Russian steel slabs, given the strong dependence of its own metallurgical sector on Russian semi-finished products.

voda 28 september 2022 08:39

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ArcelorMittal Highlights Ambitions of AM/NS India

Strategic Research Institute
Published on :
28 Sep, 2022, 6:41 am

World’s leading steel and mining company ArcelorMittal has hosted an investor and analyst event at AM/NS India’s flagship plant at Hazira in Gujarat emphasizes strong recent progress at AM/NS India and the scope of work being undertaken to further strengthen and grow the business. The event focused on the progress AM/NS India has achieved since the acquisition completed and the strategic initiatives being undertaken to transform AM/NS India into a best-in-class, integrated steel producer capable of producing high-added value products, grow its domestic market share and play a leading role in the growth of the Indian steel industry.

The presentations given by ArcelorMittal CEO & Chairman of AM/NS India Mr Aditya Mittal & members of the AM/NS India management committee, focused on

1. AM/NS India’s commitment to reaching levels of industry excellence in all aspects of ESG performance, with a specific focus on health and safety, diversity and inclusion and decarbonization

2. The scope and scale of AM/NS India’s steelmaking business and its leading position in the Indian steel industry

3. The improvement achieved in AM/NS India’s financial and operational performance since acquisition, with significant growth in its steel production and Ebitda generation, and strong progress in reducing net debt and strengthening its balance sheet

4. Efforts to secure the company’s supply chain and enhance profitability through several strategic acquisitions of a range of assets including slurry pipelines, iron ore mines, ports, power plants and land

4. How AM/NS India intends to lead the decarbonization of the Indian steel industry by integrating renewables into its energy supply chain and exploring the use of a range of decarbonization technologies over the next decade

5. The significant market growth opportunity India presents and AM/NS India’s strategy to play a leading role in the development of the Indian steel industry by expanding the capacity of its Hazira plant, initially to about15 million tonnes by early 2026 in the first phase of its expansion

The planned expansion of the Hazira facility comes almost three years since the asset was acquired and renamed AM/NS India. Since then, AM/NS India has made strong progress on performance and debottlenecking at Hazira by applying the global best practices of its parent companies and investing in technology and R&D. The company is now a self-sustaining, free cash-flow generating business, strongly positioned in a rising market to deliver long-term value to its employees, its communities, the Indian steel industry, and its shareholders.

Downstream Strategy Focused on High-Value Steels

1. Downstream investment of USD 1 billion ongoing

2. Investing in CGL3/CGL4/CGal/PLTCM

3, Anticipate acquisition of Uttam Galva (1.2 million tonne per annum): cold rolled, color coated and galvanized steel processing; awaiting final approval from National Company Law Tribunal

4. Exploring other M&A opportunities

Bijlage:

voda 28 september 2022 12:06

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Advies van J.P. Morgan over Arcelor Mittal
Beurshuis J.P. Morgan
Aandeel ArcelorMittal
Datum 28 september 2022
Advies Neutraal
Koersdoel 23,50 EUR

Detail advies
(Trivano.com) - Op 28 september 2022 hebben de analisten van J.P. Morgan hun beleggingsadvies voor ArcelorMittal (MT; ISIN: LU1598757687) herhaald. Het advies van J.P. Morgan voor ArcelorMittal blijft "neutraal".

Het koersdoel wordt door J.P. Morgan verlaagd van 31,00 EUR naar 23,50 EUR.

Op 5 mei 2022 publiceerde ArcelorMittal kwartaalcijfers.

voda 28 september 2022 14:48

0

Iranian billet hikes meet resistance
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Iranian billet prices increased slightly last week to $456-458/tonne fob Iran, and in the new round of negotiations, sellers are aiming for $460/t fob and above; however, buyers are resisting at $455/t fob.

An Iranian mill concluded a billet tender on Monday but the price is yet to be confirmed. "The tender was probably finalised at $455-460/t fob,” one insider opines.

"After the energy price hikes, many plants in Europe and Turkey idled their melting shops and preferred to re-roll semis, which makes sense," a senior Gulf Cooperation Council mill official explains.

In the GCC, mills are receiving billet enquiries from Turkey and Europe, an unprecedented situation which is exciting the suppliers. However, there are billet offers from Indonesia at $570-580/t cfr GCC, which prevent GCC mills from increasing prices in their local market. Iranian billet sellers are consequently also not finding acceptance at $460/t fob and above.

"I am receiving billet offers from Iran at $456-458/t fob, but my firm bid is unchanged at $455/t fob," a trader tells Kallanish. "Egypt is not buying due to the foreign currency crunch, and the best market is either Turkey, the GCC or the Far East. In the GCC, re-rollers' firm bids are at $500-510/t delivered. Local integrated mills could not conclude billet deals despite enquiries from the West, and some reduced their prices to $515-520/t ex-works from $540-550/t ex-works. The market is very volatile, and the sentiment can change imminently."

Burak Odabasi Turkey

voda 29 september 2022 07:26

0

Global Clean Energy Action Forum 2022 Meets in Pittsburgh

Strategic Research Institute
Published on :
29 Sep, 2022, 6:22 am

From 21-23 September representatives from 34 countries, anchored by the Ministers and Heads of Delegations from the Clean Energy Ministerial and Mission Innovation, along with participants from the clean energy community of companies, civil society, investors, youth, labor, innovators, and academics, met in Pittsburgh in Pennsylvania in US to convene the first Global Clean Energy Action Forum. The Global Clean Energy Action Forum brought the clean energy action community together to commit to acceleration of the transition from innovation to deployment.

Acceleration of this transition requires management toward the creation of future-proof and secure energy systems that can withstands shocks through diversification, strengthened supply chains, including responsibly produced critical minerals and materials, promotion of inclusive investments, and dedicated attention and active maintenance of inclusive and just transitions whether they are within or across national borders. Active and enhanced investment and public-private partnerships are essential to a successful clean energy transition, which should include energy efficiency measures, renewables, and other zero emissions technologies including abatement and removal technologies, and nuclear energy for those countries choosing to use it. Completion of this transition requires access to affordable, reliable, sustainable, and modern energy, especially for vulnerable populations.

Leading the India delegation at GCEAF, Government of India’s Bureau of Energy Efficiency Director General Mr Abhay Bakre said “India, as a developing country, is making all efforts to reduce its energy use and emissions of greenhouse gases. Almost all large industries in India are part of our flagship Perform, Achieve and Trade scheme, which is a regulatory instrument designed to make India's industries energy efficient. Moving forward, long-term sectoral roadmaps will be very important in achieving India's net-zero commitment. The steel sector has been an integral part of our action plans.”

voda 29 september 2022 07:26

0

Vallourec to Perform Material Tests for Neptune Energy’s CCS Wells

Strategic Research Institute
Published on :
29 Sep, 2022, 6:25 am

Seamless pipe leader Vallourec will carry out a series of tests to validate materials for Neptune Energy’s safe injection of CO2 in depleted wells in the Dutch North Sea. At the end of 2020, Neptune Energy announced a feasibility study into plans for a large-scale offshore Carbon Capture and Storage project in the Dutch North Sea, with the potential to safely store 120-150 million tonnes of CO2 in depleted gas fields. If developed, the project would become one of the largest CCS facilities in the area.

When dealing with CCS projects, a relatively new practice in the Energy industry, there are currently no standards to properly validate the integrity of steel materials exposed to CO2 in different conditions. Vallourec is committed to closing this knowledge gap by leveraging its long-lasting expertise in materials for Oil and Gas applications, performing in-house testing and collaborating in external research partnerships.

In this context, Neptune Energy called on Vallourec in early 2022 to perform a series of tests to validate different materials for CO2 injection. Vallourec’s intended testing protocol, approved by Neptune Energy experts, is built based on NACE standards for stress corrosion cracking tests in CO2 and H2S environments with adaptations specific to CCS.

Last year, Vallourec carried out a series of tests on its VAM connections to validate their sealability and integrity in CCS conditions with very promising first results. Read how this methodology was developed and what the results were here.

voda 29 september 2022 07:42

0

BlueScope Steel Committed to Emissions Targets

Strategic Research Institute
Published on :
29 Sep, 2022, 6:27 am

Australian steel maker BlueScope Steel has provided updates on key initiatives for decrabonization at its recent inaugural ESG Briefing Day. With the company’s three steelmaking sites, Port Kembla, Glenbrook and North Star, accounting for 92% of its total Scope 1 and Scope 2 emissions, its steelmaking operations offer the most potential for emissions reductions. In short term, the company is targeting a 12% reduction in its steelmaking emissions and a 30% reduction in non-steelmaking emissions by 2030, and has committed AUD 150 million to the initiative. The company remains on track to meet this goal by achieving an annual 1.0% emission intensity reduction. Long-term, BlueScope Steel is committed to a net-zero target by 2050. While many producers are setting and working towards decarbonization goals, BlueScope says the path to net zero emissions is reliant on emerging technologies. BlueScope and its peers remain constrained by available and affordable technology for the production processes of alternative energy sources, particularly hydrogen. Given breakthrough technologies for emissions-free steelmaking are unlikely to be available before 2030, optimisation of existing processes will be essential to achieving shorter-term targets. BlueScope Steel is engaged in several initiatives to address the technology gap, including a collaborative concept study with Rio Tinto in the Pilbara to assess the use of direct reduced iron to produce low-emission iron ore. Other projects include a collaboration with both industry and government partners to develop a hydrogen hub.

voda 29 september 2022 07:43

0

Benteler Steel/Tube Strengthens Top Management

Strategic Research Institute
Published on :
29 Sep, 2022, 6:29 am

Salzburg Paderborn headquartered German steel pipe leader BENTELER Steel/Tube is strengthening its management team to continue the successful implementation of its strategic transformation: As of 1 October 2022, Mr Christian Wiethüchter, previously Chief Sales and Operating Officer and member of the Management Board, will take over the position of Chief Executive Officer. In future, he will be responsible for the areas of sales, strategy, communications, project management, human resources and the Shreveport plant until the completion of the planned sale. As before, he will report to Mr Ralf Göttel, CEO of the BENTELER Group.

Mr Thomas Michels, previously Vice President Operations for the BENTELER Steel/Tube Schloss Neuhaus/Paderborn cluster, will become the new Chief Operating Officer and member of the Management Board. In future he will be responsible for all of the company's plants as well as manufacturing engineering, SHE & operation services, purchasing and the raw materials trading company Günther Voth GmbH.

Dr Tobias Braun completes the Management Board as Chief Financial Officer BENTELER Steel/Tube. Mr Tobias Braun has also been CFO of the BENTELER Group since 1 September 2022.

Mr Christian Wiethüchter, born in 1968 in La Paz, Bolivia, has been Managing Director of BENTELER Steel/Tube since 2017. In his previous role as Chief Sales and Operating Officer, he was responsible for the general strategic orientation of the BENTELER division, among other things. Previously, he held various management positions, including at Körber AG and Heidelberger Druckmaschinen GmbH.

Mr Thomas Michels, born in Warburg in 1970, began his career at BENTELER in 1997 as an engineer in production and passed through various functions in the company. At BENTELER Steel/Tube he was responsible, among other things, for quality, logistics, new construction and maintenance from 2010-2020 in the plant management at the Schloss Neuhaus site.

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