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voda
0
Chinese iron ore hits contract low as mills cut steel output

Reuters reported that Chinese iron ore futures hit a contract low and steel futures touched a near six-week trough on Thursday, with some steel mills in top producer China cutting output as the government looks to curb pollution.

Beijing has vowed to take more measures to clean China's air, with tougher regulations forcing some steel mills to reduce production. Steel demand has also slowed as cold weather in northern regions hampers construction projects.

Falling production and a credit crunch have pushed mills to reduce purchases of raw material iron ore. Trading is also thinning as the end of the year approaches.

The most-traded iron ore futures contract, for May, on the Dalian Commodity Exchange hit a session low of CNY 885 (USD 150) a tonne on Thursday, a level seen on Monday and the lowest since the contract was launched in October.

Source – Reuters
voda
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Mr Lakshmi Mittal asks Kazakhstan employees to hunker down - Report

It is reported that last week Indian billionaire Mr Lakshmi Mittal came to Kazakhstan for a meeting with ArcelorMittal Temirtau plant top and mid ranking managers.

Mr Mittal criticized their work and called them to put more efforts into making the production more cost efficient Tengrinews reports citing Novyi Vestnik Karaganda.

During the meeting in Temirtau, a town near Karaganda city in central Kazakhstan, the tycoon said that he would continue investing to the Kazakhstan branch only if the plant became more profitable.

He said that ArcelorMittal Temirtau was still unable to pull out of the crises that world economy plunged into in 2008. He added that "We can't afford any improvements until you learn to save money and start making money."

According to the businessman, foreign competitors of Kazakhstan's ArcelorMittal, an integrated steel and mining company, have no expenses on railway transportation of their goods. That is why he wanted to further reduce the cost of Kazakhstan goods to be more competitive.

Mr Mittal said that "I have looked through your business plan for 2014, and I consider it unacceptable. With the business plan like this you can't generate enough revenues even to stay afloat, let alone make any new investments… I have seen that through a joint effort you have found a way to save 150 million. This is an excellent idea, but that is not enough."

He brought up his American enterprise in Cleveland as an example: the plant has a similar production capacity as the one in Kazakhstan, by "only" 1500 people are working there". That is why he believes that the number of jobs at ArcelorMittal Temirtau plant should be cut "where people are not really necessary".

He said that "We all understand that the market situation is very difficult, and we should all hunker down and cut costs at every turn. We must understand that we can't afford excess expenses now. Every single should be made aware of this, so that everyone understands what our company is focusing on."

The representatives of Zhaktau Steel Workers Union who were invited to the meeting opposed the job cutting.

Mr Viktor Schetinin chairman of the trade union said that "The analysis shows that we are getting less young people every year. Steel workers job is not longer a prestigious one. Last year our steel workers were in the 2nd place by wages among mining enterprises in Kazakhstan, but now we have moved down to the 7th place. We are offering to give our community a sense of stability in these hard times, because all we care about right now is who is going to be axed next. We should stop this thoughtful flow of job cuts and reorganizations."

Mr Alexandr Polyakov deputy chairman of Korgau coal workers' union said that the calls made by Lakshmi Mittal were most likely linked to the recent deal of Arcelor Mittal and Nippon Steel & Sumitomo Metal Corporation to purchase American steel refinery ThyssenKrupp Steel for USD 1.5 billion and the expenses that Lakshmi Mittal had to incur in relation to his niece’s wedding that cost him USD 80 million.

Mr Polyakov said that "Of course, our lifestyle is very different and such expensive family events are alien to us. But on the other hand, asking us to forget about adjustment of our salaries for inflation after this is blasphemy."

He added that the monthly wages of the whole coal department of ArcelorMittal made USD 18 million.

Source – Tengri News
voda
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ArcelorMittal Temirtau to cut 2500 jobs in 2014 - Union

ArcelorMittal Temirtau is going to reduce the number of jobs by 2,500 in 2014.

Mr Viktor Schetinin vice chairman of Zhaktau steel workers union said that scheduled shutdown of several no longer demanded units is the key reasons behind the personnel axing in ArcelorMittal Temirtau.

He said that "Several shops, that are technologically no longer need, were be shut down. (...) However, these are not actual cuts: these 2,500 jobs will be outsourced.”

Every employer annually plans the number of personnel when making plans for the year. ArcelorMittal Temirtau has approved 12,028 employees for 2014, which is 2,500 less than in 2013. In 2012 the staff of the plant saw a planned cut by 3,000 people.

Mr Schetinin said that "These are not just a cuts, but also voluntary resignations, natural decline, such as death and dismissals for misconduct at work, and for violations like theft.”

Meanwhile, the planned layoffs also look like an attempt to comply with the instructions of the co-owner of ArcelorMittal, Indian billionaire Lakshmi Mittal. He came to Kazakhstan earlier this month to met with the top and mid ranking managers of ArcelorMittal Temirtau plant. He criticized their action plan for the year 2014 and called them put more efforts into decrease the cost of production and remove people from the positions where they are not needed to cut costs. The tycoon promised to invest into the Kazakhstan plant only if it is competitive and makes money.

Source – azh.kz
max21
0
quote:

voda schreef op 30 december 2013 12:30:

Ttro en Meryntje, bedankt voor het compliment.
Ha Voda,

Ja, dat geldt ook voor mij, bedankt voor je positieve input en nieuwsberichten, sneller dan het licht :)
Goeie jaarwisseling alvast,

Groeten,
Max
Candelll
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Rio Tinto to boost iron ore output by 20% by 2017

Global miner Rio Tinto, which aims to overtake Vale as the world's top supplier of iron ore, unveiled plans to increase its mine capacity by 20% by 2017, heading towards 360 million tonne (mt) a year.

The increase comes amid a sector-wide race to mine more iron ore and is designed to save Rio Tinto $3 billion in development costs by working its existing mines harder, rather than digging new mi-nes. The cheaper path to gro-wth comes as the world No.2 iron ore miner faces pressure to cut costs, reduce capital spe-nding, slash debt and boost returns to shareholders due to weaker commodity prices.

Rio Tinto plans to deliver most of the growth in the next two years, targeting 40 mt of new production by 2015. "They've been able to take a leaf out of BHP's book and squeeze the lemon," said UBS analyst Glyn Lawcock, referring to moves by Rio Tinto rival BHP Billiton to maximise its production runs.

The expansion will deliver more than 60 mt extra by 2017 from a base of 290 mt, but Rio Tinto's move to the top rank could be short lived. Vale is targeting 480 mt a year by 2018, up from 306 mt this year. BHP Billiton, Fortescue Metals Group and others are also expanding iron ore output.

Iron ore prices have held up better than those of most commodities thanks to robust demand from Chinese steel mills, although some analysts question the need for so much new ore.
www.financialexpress.com/news/rio-tin...
buffalo1
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Kooplijst 2014: Bas Heijink

DINSDAG 31 DECEMBER 2013, 08:09 uur | 771 keer gelezen

Het einde van het jaar nadert en dus is het weer tijd voor de kooplijstjes voor 2014. De redactie van Belegger.nl vraagt beleggingsexperts naar aandelen waarvan zij denken dat ze het goed gaan doen in 2014. Vandaag: Bas Heijink van ING.

Bas Heijink kiest voor 2014 voor ArcelorMittal, Philips en Royal Dutch Shell.

ArcelorMittal

'De grote dalende trend voor ArcelorMittal werd in augustus 2013 doorbroken. Hierna is een opgaande trend gestart. Voor ArcelorMittal hanteer ik een koersdoel van 18,00 euro met nog een zware weerstand bij 13,70 euro.'

Philips

'Mijn tweede koopkeus voor 2014 is Philips. De sterke opgaande langetermijntrend is nog steeds intact.Voor het komende jaar verwacht ik voor Philips een beweging richting de 33,50 euro.'

Royal Dutch Shell

'Als derde heb ik Royal Dutch Shell geselecteerd. De dalende trend waarvan eerst sprake was, werd in de laatste dagen van 2013 opwaarts verlaten. Op 27 euro ligt een zware weerstand, maar mijn koersdoel ligt op 29 euro.'

‘Graag wil ik vermelden dat ik deze drie aandelen geselecteerd heb op basis van technische analyse. Verder ben ik voor heel 2014 positief voor de aandelenmarkten. Wel verwacht ik dat indices als de Italiaanse MIB aanzienlijk beter kunnen presteren dan veel andere Westerse aandelenindices.’
Candelll
0

had ik nog niet gelezen dateerd van 26/12

La recomposition du directoire annonce une réorganisation, dont les contours devraient être précisés début 2014.
Lakshmi Mittal, PDG d’ArcelorMittal - AFPLakshmi Mittal, PDG d’ArcelorMittal - AFP
Lakshmi Mittal, PDG d’ArcelorMittal - AFP
Une nouvelle réorganisation s’annonce chez ArcelorMittal. Le numéro un mondial de la sidérurgie a dévoilé en cette fin d’année une recomposition de son directoire qui devrait se décliner prochainement dans les étages inférieurs de l’organigramme.

Les responsabilités sont maintenant réparties en fonction des régions, alors que jusqu’à présent la logique était à la fois régionale et fonctionnelle. Le changement le plus notable est sans doute l’attribution de toute l’Europe au directeur financier, Aditya Mittal. Le fils du PDG Lakshmi Mittal étend son périmètre, puisqu’il n’avait jusqu’ici que les aciers plats carbone en Europe, et se place sur une rampe de lancement pour succéder à son père dans quelques années.

Les aciers longs étaient jusqu’ici sous la responsabilité d’un ancien baron d’Arcelor, Michel Würth, qui, lui, s’apprête à partir à la retraite, bien qu’il n’ait que cinquante-neuf ans. L’Amérique (aciers plats et longs) revient à Lou Schorch, l’ancien directeur des opérations américaines de Mittal avant l’OPA sur Arcelor. Dans la nouvelle organisation, il ne restera qu’un «?survivant?» d’Arcelor, ­Gonzalo Urquijo, dont le périmètre a été réduit aux produits tubulaires, à la sécurité et aux affaires publiques.

Pas de grand plan de départ
Selon plusieurs sources syndicales, cette nouvelle répartition des tâches devrait engendrer une réorganisation dans les étages inférieurs de l’entreprise. «?On est dans l’attente d’une deuxième phase qui devrait être annoncée en janvier. Nous nous demandons comment cette nouvelle organisation va être déclinée au sein des sociétés du groupe, car il y aura des doublons?», indique Henri Botella, représentant CFE-CGC au sein du comité européen. Pour Patrick Auzanneau, de la CFDT, «?il y a une grande incertitude sur le niveau intermédiaire de management?».

La direction voit dans cette réorganisation un moyen de raccourcir les processus de décision et de mieux faire circuler les bonnes pratiques. Elle a pour l’instant écarté le risque d’un grand plan de départ chez les «?cols blancs?», comme en 2009 où ArcelorMittal avait supprimé 9.000 postes administratifs.

Toujours est-il que, sept ans après la fusion, les proches de Mittal ont clairement pris le pas sur les ex-Arcelor. De réorganisation en réorganisation, ils assument les plus importantes fonctions au sein du directoire. Au niveau du comité de direction, qui regroupe une vingtaine de membres, la tendance est moins nette, puisque les postes se répartissent à parité entre anciens de deux groupes.

Mais les ex-Arcelor sont surtout représentés en Amérique du Sud, où Mittal n’était pas présent, et deux d’entre eux viennent de Dofasco, une entreprise rachetée par Arcelor peu avant l’OPA. En Europe, le départ d’Arnaud Poupart-Lafarge en milieu d’année a laissé la place à un ex-Mittal sur les aciers longs européens. Signe d’un changement d’ère, ce ne sont plus les X qui trustent les plus hauts postes, comme du temps d’Usinor?: les deux seuls Français au comité de direction ne sont pas issus des grandes écoles les plus prestigieuses.

Ingrid Feuerstein
voda
0
Cyclone Christine heads inland after battering iron ore ports in Australia

Reuters reported that Australia's Pilbara iron ore shipping and mining region, the world's largest, faced cyclonic winds and torrential rains on Tuesday after a cyclone made landfall after intensifying over the last few days in the Indian Ocean.

The key shipping ports of Dampier, Cape Lambert and Port Hedland bore the brunt of the storm after clearing dozens of iron ore freighters and evacuating staff over the weekend. Reports of damage were not immediately available.

Cyclone Christine, the second to batter Western Australia in the November 1-April 30 cyclone season, forced mining companies Rio Tinto, BHP Billiton and Fortescue Metals to suspend loading until emergency authorities sound the all-clear, expected over the next day or two.

Winds with gusts exceeding 160 kilometres per hour are possible near the center of the cyclone, easing only slightly as Christine moves inland during Tuesday, according to the Australian Bureau of Meteorology.

A red alert - meaning residents must seek shelter - has been issued for the mining hubs of Tom Price and Paraburdoo, the weather bureau said. The area is home to some of Australia's biggest iron ore mines, including ones owned by Rio Tinto and Fortescue.

Source - Reuters
voda
0
Cyclone lifts iron ore price

THE price of Australia's key export iron ore will start 2014 on a firmer footing as bad weather here and abroad hits the world's largest producers of the steelmaking ingredient.

Australia's key iron ore port, Port Hedland, was in lockdown last night ahead of Tropical Cyclone Christine, forcing BHP Billiton and Rio Tinto to stop loading ships.

Source – The Australian
voda
0
Wéér Arcelor genoemd!

10 toppicks voor 2014 van Theodoor Gilissen

DINSDAG 31 DECEMBER 2013, 11:37 uur | 265 keer gelezen

Deze week gaat alweer een nieuw beursjaar van start. Experts en analisten onthullen daarom op de valreep nog hun kooptips voor het nieuwe jaar. Vandaag maakt Tom Muller de 10 toppicks voor 2014 van Theodoor Gilissen bekend.


De aandelenanalist van Theodoor Gilissen maakt 10 toppicks bekend.

De eerste vijf zijn Ahold, DSM, Royal Dutch Shell en Philips. 'Het zijn allemaal namen van bedrijven die internationaal gevestigd zijn, er financieel goed voorstaan en door de jaren een goed dividendrendement hebben van ruim 3 procent', zo zegt Muller.

'Daarnaast hebben we natuurlijk ook een aantal meer cyclisch gerichte bedrijven geselecteerd. Die toppicks zijn: AkzoNobel, ArcelorMittal en Randstad. We verwachten dat met de groeiende belangstelling voor de cyclische bedrijven en de groeiende economie, deze bedrijven het in 2014 goed zullen doen.'

Aegon

Daarnaasst selecteerde Theodoor Gilissen ook een aandeel uit de financiële sector. 'Ook Aegon behoort tot onze toppicks en selecteerden wij voor 2014 als een herstelkandidaat na de afgelopen jaren.'

'Tot slot hebben we dan nog twee bedrijven geselecteerd die wat meer speculatief getint zijn en hiervoor kiezen we Imtech en SBM Offshore. Wij gaan ervan uit dat deze twee speculatieve picks zich verder gaan herstellen dankzij de opbouw die ze in het afgelopen jaar gepleegd hebben.’

Vertrouwen

De analist eindigt met de boodschap: ‘Met deze top 10 willen wij 2014 ingaan en wij hebben er volledig vertrouwen in.’

www.belegger.nl/nieuws/2644407/10-top...
mickjagger2
0
www.iex.nl/Column/114936/Bye-bye-2013...

Arcelor Mittal

Niet zo goed gepresteerd dit jaar we gaan voor het volgende jaar dan maar.
Allen een prettige jaarwisseling en morgen gezond weer op!
voda
0
Recapitulating 2013 & Best Wishes to You for 2014

Year End beckons long awaited recess from the normal humdrum of daily lives, but at Steel Guru it is time for recapitulation & assessment for the year gone by and fixing the bearing for New Year.

After dismal 2012, nothing seems to have gone right for steel sector in 2013 also.

China, the global steel sector growth engine, with likely YoY growth of almost 10% in crude steel production (After 3.7% in 2012) is facing stiff challenges due to severe overcapacity, reduced economic growth and pollution issues. Despite the robust growth in crude steel production, the entire Chinese steel sector is struggling although the domestic steel prices dipped by 5% in 2013 as against 12% in 2012.

Indian steel sector was also hit hard with sluggish demand growth from consuming segments across board mainly due to weak sentiments and government inactivity. While the overall price levels remained flat, the growth in crude steel production in 2013 dipped to just 2.4% YoY

We hope for a better tomorrow (2014) and remain committed to our philosophy of maintaining a worldwide platform for industry and plan to unveil a totally new look website in early 2014.

We would like to thank you for your continued support in 2013 and will be glad to receive any feedback, suggestions or comments from you.

We also call upon you to utilize the immense reach of our platform to further your business.

voda
0
BlueScope to boost iron ore sand exports

BLUESCOPE Steel will expand its iron ore sands export operations in New Zealand with a AUD 50 million plan to boost output from the project.

The company has announced that it will charter a purpose built 175,000 tonne slurry loading vessel to support the expansion, with the AUD 50 million to be spread across 2016 to 2018 on mining, processing and ship-loading equipment.

Mr Paul O'Malley MD and CEO of BlueScope said that "With a low cost of extraction, our iron sands operations are a valuable part of BlueScope's business portfolio, making an excellent contribution to earnings from exports and providing a low cost iron unit feed to New Zealand steelmaking.”

"Operations of the third vessel are expected to achieve solid returns with annual EBIT, based on current iron ore prices and foreign exchange rates, in line with the AUD 50 million capital to be invested."

Source - www.theaustralian.com.au
voda
0
Chinese flats suppliers eying for recovery before the Spring Festival

Despite gloom writ large in Chinese steel market despair is the last word in the global depository of steel. Churning out volumes in the worst of times is miracle witnessed only in China and the hope for revival never dies.

Chinese economy despite slothfulness has clocked nearly 7.6% GDP in 2013 way ahead of global lagers who have not been able reach half of it. Approaching Spring Festival in early February has traditionally been phase of heightened demand and activity before the holidays and in anticipation of pick up in construction and industrial activity during spring and summer season.

Most of steel makers have pegged their hopes on revival despite slow demand. However situation has barely changed for the moment with the most active rebar futures for May contract on the Shanghai Futures Exchange lost 1 percent to CNY 3573 per tonne by close, as demand outlook remained shaky despite firm raw material prices.

Some recent weather happenings have disrupted supply from the two main exporting countries of Australia and Brazil. It has led to spike in Iron ore price levels.

Chinese iron ore futures extended gains to hit a two-week high on Monday amid supply concerns. The most-traded iron ore futures May contract on the Dalian Commodity Exchange rose to a session high of CNY 920 ($150), a level last seen on Dec. 17.

Obvious fall out will be squeezing of the margins of steel makers unless demand picks up before Spring festival.

Source – Strategic Research Institute
voda
0
US steel imports decrease in November -AISI

Based on preliminary Census Bureau data, the American Iron and Steel Institute reported that the US imported a total of 2,584,000 net tons of steel in November, including 1,906,000 net tons of finished steel (down 16.7% and 16.2%, respectively, vs. October final data).

Year to date total and finished steel imports are 29,636,000 and 22,933,000 net tons respectively, down 4% and 5% respectively, vs. 2012. Annualized total and finished steel imports in 2013 would be 32.3 and 25.0 million NT, down 3% each, respectively vs. 2012. Finished steel import market share was an estimated 22% in November and is estimated at 23% YTD.

A key finished steel product with a significant import increase in November 2013 compared to October is reinforcing bars (up 26%). Major products with significant YTD import increases vs. the same period last year include Reinforcing bars (up 23%)
Hot rolled bars (up 14%)
Sheets and strip all other metallic coatings (up 12%)

In November, the largest volumes of finished steel imports from offshore were all from Asia and Europe. They were from
South Korea (244,000 NT, down 38% vs. October final)
China (163,000 NT, down 24%)
Japan (139,000 NT, up 11%)
Germany (103,000 NT, down 5%)
Turkey (75,000 NT, up 3%).

For eleven months of 2013, the largest offshore suppliers were
South Korea (3,413,000 NT, down 2%)
China (1,755,000 NT, up 18%)
Japan (1,746,000 NT, down 5%)
Turkey (1,159,000 NT, down 11%)
Germany (1,017,000 NT, down 12%)

Source – Strategic Research Institute
voda
0
Chinese iron ore futures high on supply concerns

Chinese iron ore futures extended gains to hit a two-week high on Monday amid supply concerns as bad weather disrupted iron ore shipment from the world's two largest producing countries.

The three biggest ports in Australia, that account for almost all of the country's exports of the raw material, were closed to shipping due to an intensifying tropical cyclone and Brazil's Vale also declared force majeure on some shipments from its mines because of heavy rains.

Weak appetite in top consumer China, as slow steel demand kept steel mills from rebuilding much inventory of the raw material, is expected to limit gains this week.

The most-traded iron ore futures May contract on the Dalian Commodity Exchange rose to a session high of CNY 920 (USD 150), a level last seen on December.17. It narrowed gains to trade at CNY 912 by 0315 GMT, up 1%.

Australia can expect an average cyclone season running from Nov. 1 to April 30, with up to 11 storms, while Vale expected the storm to have an impact on 3 million to 4 million tonnes of contracted iron ore shipments in 2013, pushing up iron ore swaps.

The iron ore swap for January contract cleared by the Singapore Exchange rose USD 1 to USD 135.5 a tonne in morning trade.

Source – Reuters
voda
0
US weekly raw steel production update

In the week ending December 28, 2013, domestic raw steel production was 1,773,000 net tons while the capability utilization rate was 74.0 percent. Production was 1,785,000 net tons in the week ending December 28, 2012, while the capability utilization then was 71.7%. The current week production represents a 0.7% decrease from the same period in the previous year.

Production for the week ending December 28, 2013 is up 2.3% from the previous week ending December 21, 2013 when production was 1,733,000 net tons and the rate of capability utilization was 72.3%.

Adjusted year to date production through December 28, 2013 was 95,858,000 net tons, at a capability utilization rate of 76.9%. That is a 1.4% decrease from the 97,249,000 net tons during the same period last year, when the capability utilization rate was 75.2%.

Broken down by districts, here's production for the week ending December 28, 2013 in thousands of net tons:
North East - 196
Great Lakes - 673
Midwest - 249
Southern - 569
Western - 86

Source – Strategic Research Institute
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