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Arcelor Mittal « Terug naar discussie overzicht

Nieuws en info hier plaatsen (deel 4)

35.173 Posts, Pagina: « 1 2 3 4 5 6 ... 1717 1718 1719 1720 1721 1722 1723 1724 1725 1726 1727 ... 1755 1756 1757 1758 1759 » | Laatste

Omlaag ↓

voda 13 april 2023 07:37

Alleima Launches Hydraulic & Instrumentation Tubing Plant in India

The UK Government has announced updated regulations as part of the Public Procurement Notice for steel that require reporting on the origin of steel in public projects. The scrutiny should raise the profile of British-made, ‘melted and poured’ steel in procurement for publicly funded projects, ensuring that imported steel is not simply re-badged. This will help track the source of products from sanctioned countries.

Mr. Gareth Stace, Director General, UK Steel, commented: “These changes are a direct response to UK Steel and our members pushing for stronger tracking of steel sources. Leaders should think twice about origin of their steel, including sanctioned material. By buying British steel, not only will infrastructure projects easily meet new regulations, but they will also boost British jobs, regional levelling up and national manufacturing security. It just makes sense to buy the steel, for your project, that was made here in the UK.”

Until now, the origin of steel was not considered in public procurement decisions, as steel typically sits two or three tiers down the supply chain and does not directly bid into any procurement process. Public projects in the UK used £640 million of steel in 2020/21, only using around £268 million of UK-made steel, showing a huge potential for improved domestic uptake if the revised PPN is adhered to.

The new regulations have been welcomed by UK steel producers. Speaking about the new regulations, Mr. James Robinson, CEO of Liberty Steel, said: “This is a crucial step forward for the UK’s steel sector, which has been battling against an influx of cheap imports that have threatened the future of our industry. Not only will these changes help protect jobs, but they will also give our industry a much-needed boost as we continue to recover from the pandemic.”

The amended PPN should complement existing reasons for bodies to increase their uptake of British ‘melted and poured’ steel in publicly funded projects – including national resilience, job creation and environmental impact. It is far more carbon efficient to produce steels in the UK to high British standards than import it from foreign countries, including China.

voda 13 april 2023 07:37

SARRALLE to Supply 4 More Ladle Refining Furnaces to Rungta Mines

Rungta Mines has selected SARRALLE India once again for the supply of four new 45 metric tons Ladle Refining Furnaces for its Kamanda and Dhenkanal plants in India. This marks the 19th LRF order from Rungta Mines and is a testament to their trust in SARRALLE's high-quality and easy maintenance equipment. According to Mr. Ashish Rungta, Managing Director of Rungta Mines, "We have been associated with SARRALLE for many years, and they have always provided us with reliable and high-quality equipment. With these new LRFs, we are confident that we will be able to improve our production processes and deliver even better quality products to our customers."

SARRALLE India will be responsible for the entire project, including engineering, equipment manufacturing, erection on site, commissioning, and start-up of the four LRFs. The company has its own workshop facilities in India, which will be used for the equipment manufacturing process.

"We are honored to have been selected once again by Rungta Mines for this important project. We have a long-standing relationship with the company and are committed to providing them with the best equipment and services," said Mr. Haritz Garro, Managing Director of SARRALLE India.

Ladle Refining Furnaces are used in the steelmaking process to refine and improve the quality of molten steel. SARRALLE India has extensive experience in the design, engineering, and manufacture of LRFs, and its equipment is known for its high efficiency, low maintenance, and long service life.

Rungta Mines Limited is a leading player in the mining industry in India, with operations spread across various minerals such as iron ore, limestone, dolomite, and manganese ore. The company is also a prominent player in the steel industry and has set up a steel plant with an annual production capacity of 1 million metric tons in the state of Odisha. The plant, located in the city of Jharsuguda, is equipped with advanced technologies and facilities for steel production, including a blast furnace, a coke oven, and a sinter plant.

voda 13 april 2023 07:37

Nitinol's Super Elastic Solution for Medical Implants & Instruments

Nitinol, a combination of approximately 50% nickel and 50% titanium, is becoming increasingly popular in the medical device industry due to its unique properties. Nitinol is highly biocompatible, has shape memory, is super elastic, and is fatigue-resistant. Endosmart, a leading nitinol components manufacturer, was recently acquired by Alleima to continue developing advanced components for future medical devices.

Mr. Bernd Vogel, founder of Endosmart, notes that biocompatibility is essential for both long-term implants and instruments. Nitinol's titanium oxide layer allows it to be highly biocompatible. Moreover, nitinol's shape memory makes it ideal for medical instruments that need to be shaped to the anatomy of the patient. With nitinol, only one instrument bent to the required angle is needed for operations. It goes back to being a straight instrument during the sterilization process and is ready for the next surgery.

Nitinol's super elasticity is also highly useful in the medical device industry. Nitinol can undergo significant deformations and immediately return to its original shape once the external load is removed. This is critical when dealing with a system of tubes in the body that is complicated and long. Endoscopic instruments are getting smaller in diameter, longer, more flexible, and softer. Nitinol's high superelastic properties and ability to crimp with other nitinol components or different materials such as stainless steel make it ideal for soft endoscopic robotics. These new robotics can go deeper into the body, and the use of flexible instruments is essential.

Nitinol's super elastic properties are also beneficial in implantation. The implant can open up to 20 to 30 times bigger when applied through a very small catheter or a small diameter application system. Nitinol offers the exact properties needed for such implants, as they need to be stable and stiff. Stainless steel, on the other hand, is too rigid and has far too low elastic properties to fulfill these needs.

The unique properties of nitinol make it ideal for various medical devices, particularly for long-term implants and instruments that need to be shaped to the anatomy of the patient. With ongoing developments in digitalization and innovations leading to minimally invasive devices, nitinol's future in the medical device industry looks promising.

voda 13 april 2023 07:38

EC Seeks to end Section 232 Tariffs on Steel, Mr. Valdis Dombrovskis

The European Commission has restated its commitment to reach an agreement with the US by October to eliminate Trump-era tariffs on steel and aluminum. The Executive Vice President, Mr. Valdis Dombrovskis, said at an American Enterprise Institute event that both sides are seriously engaged in talks and that they are working with a deadline of October this year in mind. He outlined three key parameters that the EU had in mind for a sustainable solution: firstly, to put a definite end to the Trump tariffs; secondly, to be WTO-compatible; and thirdly, to align and respect different approaches on greening the economy.

Mr. Dombrovskis noted that he would be meeting with US Trade Representative Ms. Katherine Tai on Thursday to discuss the agreement. In March 2018, then-US President Trump imposed tariffs of 25% on certain steel imports and 10% on certain aluminum imports from the EU in the name of national security. An interim solution was reached in 2021 to remove the tariffs, replacing them with a quota system.

voda 13 april 2023 07:38

EU Lags Behind in Wind Power Expansion, Ember Analysis Shows

According to a recent analysis by Ember, the EU is lagging behind in the expansion of wind power compared to other regions of the world. While the global growth rate for wind power was 17% last year, EU countries only saw a growth rate of 9%. However, the EU still generated a higher percentage of electricity from wind and solar power in 2022 than the global average, with 22% compared to 12%. Germany was highlighted as a leader in the field, generating 32% of its electricity from wind power.

The analysis by Ember considered data from 78 countries, which account for 93% of global electricity consumption. The report noted that the slow progress in the EU can be attributed to the complex regulatory frameworks and planning procedures that often lead to delays in the approval and construction of wind power projects.

"The EU has the potential to lead the world in the expansion of wind power, but we need to simplify the regulatory process and make it easier for companies to invest in clean energy," said an Ember spokesperson. "We also need to prioritize the modernization of electricity grids to ensure that the power generated from wind and solar sources can be efficiently transported and distributed."

The report also emphasized the importance of wind power expansion in the fight against climate change, noting that it is crucial for countries to increase their renewable energy capacities in order to reach their emission reduction targets.

The EU has set a goal of achieving carbon neutrality by 2050 and increasing its share of renewable energy to 32% by 2030. While progress has been made towards these targets, the analysis by Ember suggests that more needs to be done to accelerate the expansion of wind power in the region.

voda 13 april 2023 07:39

EU Hot Metal Output Falls as Steel Plants Face Issues

According to data from Mumbai based Tathya Earth, European hot metal production decreased in the week leading to April 8. The company's index fell to 89.02 from 90.22 the previous week, the lowest it has been since the last week of January.

A fire at ArcelorMittal's Dunkirk site in France is believed to have contributed to the fall in output, as the largest furnace, which accounts for over half of the site's 7 million metric tons capacity, was taken down. Similarly, a fire at Gijon's blast furnace A is thought to have contributed to the depressed subindex of the site, which dropped to its lowest point since ArcelorMittal began tracking the data

Production at Tata Steel's Ijmuiden plant is also low, probably due to reduced rolling capacity and an upcoming furnace reline.

Even Voestalpine's Linz site experienced a drop in production despite no known incidents at the site.

voda 13 april 2023 07:39

Chopard Using Alloy with 60% Recycled Steel for Luxury Watches

Swiss luxury watch brand Chopard has made a significant breakthrough by introducing a new steel alloy that is primarily made from recycled steel. The move is aimed at reducing the carbon footprint of watchmaking, and encouraging other luxury brands to adopt sustainable practices. Chopard’s new steel alloy is made from 60% recycled steel, and is expected to be used in the manufacture of its entire watch collection.

According to Ms. Caroline Scheufele, co-president of Chopard, the company’s switch to mostly recycled steel is a significant step towards achieving sustainability in the luxury watch industry. “We don’t want to stand alone. We want to inspire other brands to join us in this effort,” she said.

The manufacture of steel is a significant contributor to global CO2 emissions, and the use of recycled steel is one way of reducing the environmental impact of watchmaking.

The move has been welcomed by environmental groups and industry experts, who believe that it will set a new standard for sustainable watchmaking. “Chopard’s commitment to using recycled steel is a positive step in the right direction, and we hope that other luxury brands will follow suit,” said Mr. Peter Knopp, Director of Sustainability at the Responsible Jewellery Council.

Chopard is a Swiss luxury watch and jewelry company founded in 1860 by Mr. Louis-Ulysse Chopard. The company is known for its high-end timepieces and exquisite jewelry, which are sought after by collectors and connoisseurs worldwide. Chopard has a long-standing reputation for exceptional quality, craftsmanship, and innovation. The company produces a wide range of watches, from classic and elegant timepieces to more contemporary and sporty designs. The company's watch collections include the L.U.C., Classic, Mille Miglia, Happy Diamonds, and Imperiale. Chopard is also famous for its jewelry creations, which are characterized by the use of precious metals, diamonds, and other precious stones. The company's jewelry designs are intricate, elegant, and sophisticated, and they have won numerous awards and accolades over the years.

voda 13 april 2023 07:39

Turkey Opens AD Duty Review on Pipe Fittings from 6 Countries.

Turkey has launched its fourth anti-dumping duty sunset review on tube or pipe fittings from Brazil, Bulgaria, China, India, Indonesia, and Thailand, according to Turkey's Official Gazette. The sunset review is expected to be completed within 12 months.

The products come under HS code 7307.19. In April 2018, Turkey's authorities extended the AD duty on tube or pipe fittings from these countries. Among the six, China, Bulgaria, and Brazil's duty rates remained at $800 per metric ton, $400 per metric ton, and $400 per metric ton, respectively. The duty rate for Indonesia remained at $253 per metric ton to $400 per metric ton, that for India remained at $305 per metric ton to $400 per metric ton, and that for Thailand remained at $147 per metric ton to $400 per metric ton, depending on the company.

"Turkey has an established trade relationship with the countries involved in the sunset review," said a spokesperson for the Turkish government. "However, we need to ensure that there is fair competition in the market and that our domestic industries are not affected by anti-competitive practices. The review will provide a transparent and objective assessment of the situation."

Brazilian pipe fittings manufacturer, Tubos e Conexões de Aço Inoxidável, expressed its concern over the decision. "We are disappointed that Turkey has initiated yet another sunset review on our products," said TCA's CEO, Mr. Pedro Sousa. "We have always complied with all the relevant regulations and we believe that the review is unnecessary."

voda 13 april 2023 07:40

Nucor Yamato Shuts Down for a Week

Nucor Yamato steel mill shuts down for a week Nucor-Yamato, a joint venture between US-based Nucor and Japanese steelmaker Yamato Kogyu, has shut down its Arkansas beam mill for the week of 9 AprilThe shutdown is expected to last a week, with production resuming from 16 April. The reason for the shutdown is currently unclear.

Nucor-Yamato is a joint venture between Nucor Corporation, a US-based steel company, and Yamato Kogyo, a Japanese steel company. The joint venture was formed in 1987 to build and operate a structural steel mill in Blytheville, Arkansas. The mill produces a wide range of structural steel products, including wide-flange beams, H-piling, sheet piling, standard I-beams, channels, and other structural shapes. The Nucor-Yamato mill is one of the largest producers of structural steel in North America, with an annual production capacity of 2.5 million short tons.

voda 13 april 2023 07:40

Sandvik Launches Osprey Online for Additive Manufacturing

Sandvik has launched an e-commerce solution called Osprey Online, which offers premium quality alloys, fast shipping and expertise to customers. The platform will initially sell titanium powders, maraging steel, nickel-based superalloys, duplex and super duplex, austenitic, martensitic and precipitation hardening steels. Sandvik's range of materials will be available via an easy-to-use, on-demand platform, accessible from any device, at any time.

It offers the widest range of AM alloys on the market, and shorter lead times, with 48-hour delivery of materials from its warehouses to customers following online purchases. This e-commerce service also eliminates the need for users to interact with the internal sales team. During the launch, Sandvik's experts in metal powders and additive manufacturing offered insights into the platform and its alloys. Sandvik Sales Director, Mr. Luke Harris, said "Now we’re eagerly anticipating feedback, to keep improving and remain the most customer-centric partner we can be." Sandvik aims to remain an expert in the field and cut the middle step when customers need to purchase alloys.

The Swedish additive manufacturing firm has claimed that Osprey Online will service Europe initially but will extend to other markets shortly. The platform aims to meet the increasing demand for easily accessible powder metal for additive manufacturing due to grow by 25% by 2025.

Sandvik's biannual customer survey revealed that the demand for easily accessible powder metal for additive manufacturing has been growing and is expected to increase by 25% by 2025.

voda 13 april 2023 07:40

Environmentalist Challange Whitehaven’s Cumbria Coal Mine

A legal challenge opposing the UK’s first major coal mine in over 40 years has been rejected. South Lakes Action on Climate Change and Friends of the Earth had called for the High Court to quash government approval for the mine at Whitehaven in Cumbria. They argued that Levelling Up Secretary Mr. Michael Gove's backing was based on "errors in law". However, environmental campaigners argue Mr. Gove “failed to account for the significant climate impacts of the mine.”

Ms. Carole Wood, chairwoman of SLACC, said the two groups would use their right to contest the High Court's ruling at a specially convened hearing.

Friends of the Earth campaigner Mr. Tony Bosworth added: "This isn't the decision we had hoped for, but it isn't the end of the line. Opponents of the mine raised critically important, climate-related questions in the planning inquiry, but these were either fudged or avoided. With the world in an accelerating climate crisis, these issues cannot be ignored."

The mine was initially approved by Cumbria County Council in 2020 but was then made the subject of a public inquiry. A ruling was delayed several times before the government gave the scheme its backing in December. Supporters believe it will give west Cumbria a much-needed economic boost. The Woodhouse Colliery scheme will see millions of tons of coking coal extracted for steel production. Operator West Cumbria Mining says it will create 500 highly-skilled jobs with up to 1,500 more in the supply chain.

voda 13 april 2023 07:41

US Extends AD Duty Review Period for Wire Rod

The International Trade Commission has scheduled expedited reviews to determine whether the countervailing duty orders on carbon and certain alloy steel wire rod from Italy and Turkey, as well as the antidumping duty orders on wire rod from Belarus, Italy, Russia, South Africa, South Korea, Spain, Turkey, Ukraine, the United Arab Emirates, and the United Kingdom, should be revoked. The reviews will determine whether revocation would lead to the continuation or recurrence of material injury within a reasonably foreseeable time.

These reviews are considered extraordinarily complicated, and the ITC has determined to extend the review period by up to 90 days. The review period will be used to collect additional information from the domestic and respondent interested parties, such as manufacturers, exporters, and importers of the subject merchandise.

The ITC's determination on March 6, 2023, deemed the domestic interested party group response adequate and the respondent interested party group response inadequate.

The wire rod under review is used for a variety of applications, including in the automotive, construction, and energy industries. The subject merchandise is classified under Harmonized Tariff Schedule of the United States (HTSUS) subheadings 7213.91.30, 7213.91.60, 7213.99.0030, 7213.99.0031, 7213.99.0038, 7213.99.0090, 7227.20.0008, 7227.20.0016, 7227.20.0020, 7227.20.0022, 7227.20.0025, 7227.20.0045, 7227.20.0075, 7227.90.6010, 7227.90.6020, 7227.90.6030, and 7227.90.6035.

Manufacturers of the subject merchandise from these countries include ArcelorMittal, Nucor Corporation, Severstal, and Emirates Steel, among others. Representatives from these companies may provide their input during the review period.

voda 13 april 2023 07:41

Al Ghurair Iron & Steel Found Guilty of Circumventing Laws on Steel Imports

The US Court of Appeals for the Federal Circuit has upheld the Department of Commerce’s decision that Al Ghurair Iron & Steel, a steel producer in the United Arab Emirates, evaded antidumping and countervailing duties on corrosion-resistant steel from China. The court found that Commerce had made a harmless error in rejecting data from the company but affirmed the Commerce determination, citing substantial evidence in other parts of the record.

Commenting on the ruling, a spokesperson for the US Department of Commerce said, "This decision is another example of the US government's commitment to holding foreign companies accountable when they circumvent US trade laws. We will continue to work with our partners to ensure that US businesses are operating on a level playing field."

The case dates back to 2016 when the US imposed duties on imports of certain corrosion-resistant steel products from China. Al Ghurair had imported Chinese steel products into the UAE and then exported them to the US, bypassing the tariffs. This practice is known as transshipping, and it violates US trade laws.

Al Ghurair Iron & Steel is a steel producer based in the United Arab Emirates. The company produces a wide range of steel products, including rebar, wire rod, and steel billets. Founded in 2008, Al Ghurair Iron & Steel has grown to become one of the largest steel producers in the region. The company has a production capacity of over 2 million metric tons per year and exports its products to customers around the world.

voda 13 april 2023 07:42

Ohmi Press Works & Forging Orders Radial-Axial Ring Rolling Machine

Ohmi Press Works & Forging, a Japanese forging company, has ordered the RAW 500/400-4500/800 EH radial-axial ring rolling machine from SMS Group. The machine is Ohmi's sixth ring rolling machine from SMS and features the patented energy-saving electrohydraulic direct drive concept, which can reduce energy consumption by up to 50% compared to conventional machines. The new RAW is capable of rolling seamless rings with a diameter of up to 4,500 millimeters and a height of up to 800 millimeters, expanding Ohmi's capacity to supply larger and heavier rings to various industries. The machine is set to go into operation in May 2024.

The machine comes with CARWIN control software and ROLLTECH Rings and ROLLTECH Profiles technology software, which allow for reproducible rolling results and close manufacturing tolerances. The Ring Monitoring System can be used to continually optimize product quality during the rolling process.

The state-of-the-art plant technology is rounded off by digital solutions developed at SMS for intelligent monitoring and a comprehensive overview of the status of production and the machine's condition.

voda 13 april 2023 07:42

China Baowu Tops 2022 Steel Companies New Media Influence List

The 2022 Steel Companies New Media Influence TOP10 awards ceremony was recently held at the Baowu (Changshu) Leadership Development Center, with China Baowu topping the list. The awards were jointly organized by the China Iron and Steel Industry Association's publicity and communication work committee and the China Metallurgical News, which evaluated the quality and quantity of WeChat public account posts by various steel companies based on five indicators: total reading, highest reading, average reading, headline reading, and total likes.

China Baowu was the clear leader in terms of WeChat post views and also posted several popular articles. In the first quarter of 2023, the company averaged one post every three days with over 10,000 views. Its content was eye-catching, with innovative titles and high reader approval ratings.

Hebei Iron and Steel Group also had high-quality posts with over 10,000 views and high likes. Their articles were informative, written in simple yet sophisticated language, and had high reader ratings.

YaoLan Steel had many exciting comments on their posts and high interaction with users. Their articles could resonate with mainstream users, and their consistent formatting and pictures showed the company's commitment to high-quality development.

Xinsteel Group cleverly utilized videos and audio components to create multi-format promotional effects. They maintained a fixed format for posts, with the "article review" at the end increasing the exposure of related articles and enhancing user stickiness.

LiuGang Daily set up a tag function in their WeChat account to categorize their article content, making it easier for users to search for target articles. They quickly released relevant promotional materials on hot events.

China MCC17 Group's WeChat menu contained all the sub-company public accounts and website matrices, with a special "biweekly review" column showcasing the company's work and enhancing work quality.

Jiuquan Iron and Steel Group not only publicized enterprise news but also carried out ideological and political propaganda work, showcasing the political literacy of its cadres and workers through the "three grasps and three promotions" column, providing a good public opinion environment for forging a high-quality professional cadre team.

Hebei Xinda Group released eight articles every day with structured sections for easy reader navigation. They also provided "product quotations" daily to help target customers receive real-time product information and a comfortable cooperative experience.

Rongcheng Group's "Ronghua Words" column is a highlight, using beautiful words and articles to heal readers' hearts in a busy information age, demonstrating the company's powerful energy of beauty and goodness, as well as its attitude of caring for users and employees.

Baogang Group uploaded their offline newspaper to their online platform, providing strong navigation for users. Their special "AI anchor news" column uses artificial intelligence technology to convey corporate news to readers, demonstrating strong innovative capabilities.

This year's award winners are leaders in the Chinese steel industry in terms of new media influence, demonstrating the importance of high-quality content and interactive marketing to promote enterprise development in the digital age.

voda 13 april 2023 07:42

US DoC Finds Negative Margins on AD Duty Circumvention on Pipes

The US Department of Commerce has issued negative preliminary determinations that certain circular welded carbon steel pipes and tubes and circular welded non-alloy steel pipe imported from Vietnam were not completed using hot-rolled steel manufactured in Taiwan, and thus there was no circumvention of the antidumping duty orders on pipe and tube and CWT from Taiwan. This comes after Commerce initiated country-wide circumvention inquiries on August 4, 2022, to determine whether imports of pipe and tube and CWT from Vietnam, completed in Vietnam from HRS manufactured in Taiwan, were circumventing the orders. SeAH Steel VINA Corporation and Vietnam Haiphong Hongvuan Machinery Manufactory were selected as the mandatory respondents in these inquiries. Commerce preliminarily determined that SeAH VINA and Vietnam Haiphong did not complete pipe and tube and CWT using Taiwanese HRS in Vietnam, nor did they export pipe and tube or CWT incorporating Taiwan HRS to the United States during the period of inquiry.

Similarly, the US Department of Commerce found that imports of certain welded carbon steel standard pipes and tubes from Vietnam, completed using hot-rolled steel from India, were circumventing the antidumping duty order on pipes and tubes from India. SeAH Steel VINA Corporation was found to be shipping the inquiry merchandise to the US at a lower price to evade the AD order. Therefore, US Customs and Border Protection will suspend liquidation and require a cash deposit of estimated duties on unliquidated entries of pipe and tube completed in Vietnam using India-origin HRS entered on or after August 4, 2022.

The US Department of Commerce also made a preliminary determination that certain circular welded non-alloy steel pipes from Vietnam are circumventing anti-dumping duties imposed on Korean-made CWP. Specifically, the products were completed in Vietnam using hot-rolled steel produced in Korea. The inquiry included mandatory respondents SeAH Steel VINA Corporation and Vietnam Haiphong Hongvuan Machinery Manufacturing. The US issued an anti-dumping order on CWP from Korea in 1992. The preliminary determination reveals that the inquiry merchandise should be included within the scope of the Order.

Furthermore, the US Department of Commerce has preliminarily found that CWP completed in Vietnam using China-origin HRS is circumventing the anti-dumping and countervailing duty orders on CWP from China. Similarly, certain welded carbon steel standard pipes and tubes from India completed in Vietnam using India-origin HRS is circumventing the anti-dumping order on pipe and tube from India. Imports of such merchandise are subject to certification requirements, and cash deposits may be required.

The negative preliminary determinations on the circumvention of antidumping duty orders on pipe and tube and CWT from Taiwan provide a relief to the US steel industry. The final determinations are expected to be made on July 24, 2023. The US Commerce Department requires importers who claim that the CWP from Vietnam was not produced from Korea-origin HRS to meet the certification and documentation requirements to avoid cash deposit requirements.

voda 17 april 2023 07:36

RINL Makes Headlines with Weekend Develpoments

Rashtriya Ispat Nigam Limited, the corporate entity of Visakhapatnam Steel Plant, extended the last date for Expression of Interest for funding its working capital & raw material requirements against supply of steel by RINL until April 20 for providing more time for interested parties to participate in the bidding process. As per reports, citing tade union sorces, 22 companies have submitted their bids by earler deadline of 15 April.

As per the trade unions, 5 international steel export companies participated in the bidding process, including Indo Intertrade from Switzerland, Indo International Trading FZCO from Dubai, SB International from Dallas, Global Soft from Singapore and company of Mr. Vadim Novinnsky Alexanda, who owns Ukraine's Smart Holding Group, which has a 24% stake in Mrr Rinat Akhmetov's iron ore producer Metinvest. ·

A total of 17 Indian companies submitted their bids
1. Agora Partners
2. Auroglobal Comtrade
3. Avon Steel Industries
4. Elegant Metals & Minerals
5. Europa Import Export
6. HSCODES
7. IMR Metallurgical Resources
8. Jindal Steel & Power
9. JSW Steel
10. LK Sri Enterprises
11. Rootage Import & Export
12. Soorjmull Baijnath
13. Sri Satyam Ispat
14. Tata International
15. TUF Group
16. Venspra Impex
17. Vinar Overseas

Senior trade union leaders have strongly urged the management of RINL not to permit private companies and Ponzi firms to participate in the bidding. Expressing concern that some private companies like JSW and JSP may take advantage of RINL, they pointed out that six Ponzi companies have submitted bids, which should not be encouraged.

On the other hand, the trade unions have expressed their outrage over a statement that was released by the Union Ministry of Steel on Friday, reiterating the government's firm stance on the 100% disinvestment in RINL through the process of privatization. On Saturday, hundreds of employees of RINL participated in a foot march to protest against this

The Ministry of Steel clarified that the disinvestment process of RINL is still ongoing and there is no freeze, contrary to some media reports. The ministry's statement emphasized that efforts are being made to improve RINL's performance and keep it as a going concern.

This statement came after the Union Minister of State for Steel had said that the Centre has no immediate plans to privatize the Vizag Steel Plant. During his visit to RINL on Thursday, Union Minister of State for Steel Mr. Faggan Singh Kulaste assured reporters that the Centre was not in a rush to privatize the plant, but rather was committed to strengthening its ability to operate independently.

The future of RINL appears to be uncertain, with reports indicating that its fate may depend on the outcome of the 2024 General Elections in India.

voda 17 april 2023 07:36

Global Steel Pricess Levels under Pressure as Chinese Exports Surge

China's steel exports have increased by 53.2% YoY in Q1 2023, amounting to 20.081 million metric tons, according to data released by the country's General Administration of Customs. In March alone, finished steel exports surged by 59.7% YoY, reaching 7.89 million metric tons. The growth in exports is attributed to lower than-expected local demand and higher prices overseas, which made most major mills interested in exports in the first quarter.

It is expected that export shipments will remain steady in the second quarter as well, given the disappointing month of April in terms of domestic demand.

This increase in steel exports from China could impact other exporting nations, including India, which have been struggling with their own domestic steel demand. As China's steel exports surge, it could lead to an oversupply in the global market, resulting in a decrease in steel prices. This could make it difficult for other countries to compete with China on the pricing front. India, in particular, has been facing pressure from cheaper Chinese imports, and this surge in exports from China could further impact India's steel industry.

Furthermore, China's increasing steel exports could lead to a slowdown in global steel prices, as the country remains the largest steel producer in the world.

voda 17 april 2023 07:38

Jindal Steel & Power to Establish Rail Mill in Angul, Leveraging Competence

Jindal Steel & Power has announced its plan to commission a new state-of-the-art 1.2 million metric tons per annum Rail & Heavy Structure mill at its Angul Steel complex in Odisha. After the commissioning of this new mill, JSP's total rail-making capacity will be 2.2 million metric tons per annum. JSP is proactively adding and augmenting further Rail manufacturing capacity to support the modernization of the Indian Rail network, said Mr. Bimlendra Jha, Managing Director, Jindal Steel & Power.

To help build a future-ready national rail infrastructure, JSP has successfully developed 60E1 1175 Heat Treated Rails suitable for high-speed and high-axle load applications.The company has developed speciality Rails like 1175 HT, R350 HT, Asymmetric Rails, and 1080HH rails at its existing 1 million metric tons per annum Rail Mill in Raigarh, Chattisgarh, which are import substitution products required for heavy axle loads of more than 25 metric tons. The Raigarh Rail mill is regularly supplying 260-meter Rails to Indian Railways, DFCCs and other critical projects of national importance. The company's specialty rails of 1080 HH grade are being used across almost all the Metro and RRTS systems in India.

voda 17 april 2023 07:39

Tata Steel in Talks with Government for Port Talbot Plant

Tata Steel's CEO & MD Mr. TV Narendran has confirmed to PTI that the company is continuing talks with the UK government for a financial package. Mr. Narendran noted that there has been no conclusion to the request made for a financial package, and Tata Steel believes it cannot envision a viable future in the UK without the support of the government.

The company had requested a package of £1.5 billion from the government to support its decarbonisation plans. While the UK government made a counteroffer earlier this year, it fell short of Tata Steel's expectations.

Tata Steel owns the largest steelworks in the UK located in Port Talbot, South Wales, and employs approximately 8,000 people across all its operations in the country. The company has been struggling to cope with the challenges of the pandemic, rising energy prices, and increased competition from cheaper steel imports. Its UK operations have been under pressure due to Brexit and the ongoing US-China trade tensions.

The financial package from the UK government would provide a significant boost to Tata Steel's efforts to reduce carbon emissions and achieve its target of becoming a carbon-neutral company by 2050.

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