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Latin American steel imports decrease 7% during January-October 2017

Latin American steel association Alacero reported that between January/October of 2017, China shipped to the world 62.3 million tonnes of steel, which 57,0 million tonnes were finished steel (long steel, flat steel and seamless pipes) and 5.2 million tonnes were steel-derivatives products. This volume is 31% lower than registered in the same period of 2016 (90,8 million tonnes). For its part, the region accounted for 9.4% of total global exports, increasing its participation in 2.5 percentage points versus Jan/Oct 2016 (6.9%) and standing at third place as China’s preferred destination. The region is preceded by South Korea (9.9 million tonnes, 16% of the global total) and Vietnam (6.6 million tonnes, 11% of the total).

In this period, Latin America received 5.8 million tonnes of Chinese steel products (5.2 million tonnes were finished steel and 638 thousand tons were steel-derivatives products). This volume is 7% lower than that recorded in Jan/Oct 2016 with 6.3 million tonnes.

On the other hand, the region is the main global destination of steel-derivatives, representing 12% of the total of this products (638 thousand tonnes). The region is followed by the Philippines (344 thousand tonnes, 7% of the total) and India (304 thousand tonnes, 6% of the total).

In October 2017, Latin America received 375 thousand tonnes of steel from China. Of this volume, 342 thousand tonnes were finished steel and 33 thousand tonnes were steel-derivatives products. This total is 18% lower than registered in the previous month which entered 456 thousand tonnes (413 thousand tonnes of finished products and 43 thousand tonnes of derivatives products) and 34% lower versus 570 thousand tonnes from October 2016 (510 thousand tonnes of finished products and 60 thousand tonnes of derivatives products).

Finished steel imports from China by destination
The main destinations for Chinese steel (finished + steel-derivatives) in Latin American during Jan/Oct 2017 were: Central America which received 1.2 million tonnes (21% of the region); Chile with 1.1 million tonnes (19%); and Peru, 795 thousand tons (14%).

In this ten months of the year, the countries that increased their imports of Chinese steel (in percentage terms) versus Jan/Oct 2016 were Ecuador (+32%), Dominican Republic (+25%), Brazil (+10%) and Chile (+9%).

On the other hand, the countries that have reduce their imports of Chinese steel products versus Jan/Oct 2016 were: Venezuela (-56%), Cuba (-53%), Central America (-23%), Paraguay (-23%), Argentina (-18%), Colombia (-4%), Mexico (-4%) and Peru (-1%).

Imports from China by products
Flat steel were the main products imported by Latin America from China during Jan/Oct 2017, reaching 4.0 million tonnes (68% of total). The most relevant products in terms of volume were:

Other alloyed steel sheets and coils (1.1 million tonnes, 28% share of flat steel imported from China)
Hot dip galvanized sheet (965 thousand tonnes, 24%)
Cold rolled coil (687 thousand tonnes, 17%)

Long steel: China exported to Latin America 1.1 million tonnes (18% of the total), mainly concentrated in:
Wire rod (533 thousand tonnes, 51% share of long steels)
Bars (425 thousands tonnes, 40% )

The region received 203 thousand tonnes of seamless pipes (3% of the total).

Meanwhile, steel-derivate products represent 11% of total imports of Chinese steel in the region, with a volume of 638 thousand tonnes, where:
Welded tubes (519 thousands tonnes)
Wire (119 thousands tonnes)

Source : Alacero
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CD and Intesa sign agreement to join ArcelorMittal bid for Ilva – Report
Steel News - Published on Mon, 18 Dec 2017

Reuters reported that Italy’s state holding company CDP and Intesa Sanpaolo have signed a non binding agreement to join ArcelorMittal’s bid to buy Italian steelmaker Ilva. A source close to the matter said that the involvement of CDP and Intesa, which the source said would amount to about 100 million euros (USD 118 million), would replace the share in the consortium currently held by Italian steel processor Marcegaglia.

EU antitrust authorities in November upgraded their investigation into whether the proposed purchase of Ilva by the consortium led by ArcelorMittal, the world’s biggest steelmaker, would lead to steel price hikes.

The exit of Marcegaglia from the deal could make it easier to overcome the antitrust concerns.

Earlier Italy’s industry minister, Carlo Calenda, held talks with ArcelorMittal Europe CEO Aditya Mittal.

Source : Reuters
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Vietnam steelmakers dig in for battle against US duties on HDG imports

Nation Multimedia reported that Vietnam Steel Association has vowed to co ordinate with the country’s Ministry of Industry and Trade to protect the rights of steelmakers that have been accused of tax evasion by the US Department of Commerce. Following the case, VSA said it was working with the Department of Trade Defence under the Ministry of Industry and Trade to follow developments relating to the ruling and to take the necessary measures in defense of local steelmakers in accordance with World Trade Organisation regulations.

According to the VSA, the process of making corrosion-resistant or cold-rolled steel by Vietnamese businesses is a crucial step in the closed-loop manufacturing of high-quality flat steel bars, with factories in Vietnam receiving investment to the tune of hundreds of millions of US dollars.

The cold-rolling process generates between 30 and 40% added value to imported hot-rolled coil from China, VSA argues, dismissing the claim by US authorities that the vast majority of the value of Vietnamese steel originates in China.

In addition, VSA said, the US had yet to put a regulation in place |regarding the required added value content of exports from Vietnam, making it difficult for Vietnamese steelmakers affected by the decision to respond.

The US decision, made by the department last week, would involve the imposition of anti-dumping measures and anti-subsidy rates on corrosion-resistant (CORE) and cold-rolled steel from Vietnam. The department argued that Chinese products are being dumped in third-party countries, such as Vietnam, to circumvent these duties, leading to last week’s decision. Although the product was only processed in Vietnam, the commerce department agreed with the claims of American producers that as much as 90% of the product’s value originated from China.

In 2016, US steelmakers succeeded in persuading the department to impose anti-dumping (AD) and countervail (CV) duties on Chinese steel, which meant cold-rolled steel from China would be subject to 265.79 per cent AD and 256.44 per cent CV duties when exported to the US.

Source : Nation Multimedia
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New York governor inks legislation to buy American made iron and steel products

WHAM reported that governor Andrew Cuomo signed legislation to ensure that New York buys American-made steel and iron products. Starting in April 2018, all surface road and bridge projects under the purview of New York state will be required under contract to use American-made structural iron and structural steel. This applies to the Department of Transportation, Thruway Authority, Bridge Authority, Metropolitan Transportation Authority, Office of General Services, SUNY Construction Fund and Dormitory Authority of the State of New York.

Governor Cuomo said in a statement that "Buy American will help us invest directly in our greatest asset, our workforce, to support economic development and job growth for generations to come.”

The law requires steel or iron to have been produced or made in whole or substantial part in the U.S.

As an additional component of the law, a 14-person work group will be established to consider expanding the 'Buy American' idiom to other manufactured products within the US, including concrete, cement and aluminum products. Governor Cuomo will appoint seven members and the chair of the group. The temporary president of the State Senate and Assembly Speaker will each appoint two members; each minority leader will appoint one member.

An interim report of the group's findings will be released by January 1, 2019 and a final report on January 1, 2020.

Source : Wham
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GAIL to ink gas supply pact with SAIL, JSPL, Tata Steel, Jindal Stainless, IMFA and Vedanta

Business Standard reported that GAIL (India) Ltd will enter into pacts with aluminum and steel majors in Odisha for supply of natural gas from December 2019. The gas major will sign term sheets with companies including Steel Authority of India Ltd (Rourkela), Tata Steel (Kalinganagar), Vedanta (Jharsuguda), Jindal Stainless Ltd, Jindal Steel and Power Ltd (JSPL) and Indian Metal and Ferro Alloys.

The memorandum of understanding (MoUs) with the companies would be signed on the occasion of the laying of foundation stone for new Dhamra-Angul 36 inch main line and Bhubaneswar-Cuttack-Paradip 12 inch spur line on December 17 by Dharmendra Pradhan, Union minister of petroleum & natural gas and skill development & entrepreneurship.

Mr Ashutosh Karnatak, director (projects), GAIL (India) Ltd said that "Our marketing team has identified 11 industries for the supply of natural gas. We will sign the MoUs on the occasion. Together, 1.2 million standard cubic meters a day (mmscmd) gas will be supplied to these industries.”

He added that this will enable the switch to cleaner, safer, convenient, economical and happy fuel.

Dhamra-Angul 36 inch main line is part of the 2655-km Jagdishpur-Haldia and Bokaro-Dhamra Natural Gas Pipeline (JHBDL) popularly known as the Pradhan Mantri Urja Ganga.

In Odisha, the natural gas pipeline will be constructed at an estimated investment of Rs 4000 crore and will have a length of the 769-km covering 13 districts.

Source : Business Standard
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Beursblik: China domineert ook in 2018 metaalmarkten
ABN AMRO wijst op verschillende aanjagers.

(ABM FN-Dow Jones) In 2018 zal er op de metaalmarkten wederom vooral worden gekeken naar China. Dit is de conclusie van een rapport van senior econoom industriële metalen Casper Burgering van ABN AMRO.

Burgering verwacht dat de prijzen voor industriële metalen volgend jaar zullen stijgen. De hogere prijzen zullen ontstaan door tekorten in basismetaalmarkten, terwijl ook de verzwakking van de dollar mee zal helpen. De econoom stelt dat de prijzen ook steun krijgen door capaciteitsreducties in de staal- en aluminiumsector.

Burgering kijkt vooral naar de balans tussen vraag en aanbod, aangezien dit het meest relevant is voor bepaling van de prijstrend op de langere termijn. Voor de kortere termijn tellen factoren zoals de rentestanden, het sentiment en de olieprijs meer mee.

"Maar speciale aandacht gaat natuurlijk uit naar één dominante factor: China. Ook in 2018. Het grote belang van China op industriële metaalmarkten zal ook komend jaar de markt zijn dynamiek geven", benadrukte Burgering. De Aziatische grootmacht is goed voor ongeveer de helft van zowel de wereldwijde consumptie als productie van industriële metalen, zoals staal.

ABN AMRO noemt de risico's voor China"hoog", met oververhitting van de huizenmarkt, een mogelijke economische groeivertraging, terwijl ook de schuldenlast enorm blijft. Desalniettemin zullen de prijzen naar verwachting van de bank verder omhoog gaan. In 2017 stegen de prijzen voor basismetalen met gemiddeld twintig procent en de staalprijs met tien procent.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

Copyright ABM Financial News. All rights reserved

(END) Dow Jones Newswires
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Personeel zet vraagteken bij bericht Tata-top

Gepubliceerd op 19 dec 2017 om 12:14 | Views: 1.260

ArcelorMittal 16:08
26,86 +0,17 (+0,64%)

IJMUIDEN (ANP) - De ondernemingsraad (or) van staalconcern Tata Steel in IJmuiden zet hardop vraagtekens bij de mededeling van de top van het bedrijf over de mogelijke krachtenbundeling met het Duitse ThyssenKrupp. Het personeelsorgaan spreekt van nepnieuws omdat onterecht het beeld zou zijn gewekt dat er overleg heeft plaatsgevonden.

De top van Tata zei eerder deze week dat het zijn best gaat doen om de zorgen over de voorgenomen fusie weg te nemen, waarbij overleg zou zijn gevoerd met bonden en personeel. Die maken zich onder meer zorgen over de werkgelegenheid en zou beter door de top van Tata geïnformeerd willen worden.

Eerder had ook vakbond FNV kritiek op de wijze waarop de boodschap van de Tata-top met de wereld is gedeeld. De ,,extra informatie" van Tata zou niet veel meer dan een mailtje met uitleg waarom een fusie nodig zou zijn. Informatie die bij de bond al bekend was.

Personeel van Tata voert woensdag andermaal actie tegen de fusie, waarbij in Nederland 2000 banen dreigen te verdwijnen.
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ArcelorMittal tekent contract met SKF

Gepubliceerd op 19 dec 2017 om 08:54 | Views: 2.489

ArcelorMittal 16:14
26,87 +0,18 (+0,67%)

LUXEMBURG (AFN) - Staalconcern ArcelorMittal heeft een contract getekend met het Zweedse industriebedrijf SKF voor de levering van onder meer kogellagers en afdichtingen voor fabrieken. Er werden geen financiële details gemeld over de overeenkomst.

Het betreft een meerjarige overeenkomst waarbij SKF producten levert aan staalfabrieken van ArcelorMittal in veertien landen in Europa en Noord-Afrika. Ook verzorgt SKF onderhoud en vervanging. Daarnaast gaat SKF onderzoek doen naar kostenbesparingen.
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JISF sees higher crude steel output in 2018-19

Reuters reported that Japan Iron and Steel Federation said that Japan’s Crude steel output in the current business year ending March is likely to be little changed from 10.517 million tonnes the year before. It said “Global steel demand is likely to rise slightly next year, and so are Japan’s steel exports in the year from April, the group said, while Japan’s steel imports are likely to be little changed in the next business year. Demand from the construction sector is on the rise, while the automobile sector is getting support from the introduction of new cars in domestic markets as well as strong overseas demand.”

Kosei Shindo, the chairman of the Japan Iron and Steel Federation, told a news conference “I hope that crude steel output for next business year would exceed 10.6 million tonnes.”

Shindo, who is also the president of Nippon Steel & Sumitomo Metal Corp, said that despite support from Tokyo Olympics-related projects, crude steel output this business year has been hurt by a slew of typhoons in the autumn and production problems at some of the plants.

Source : Reuters
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JSW Techno to buy 49pct stake in Brahmani River Pellets

JSW Techno Projects Management Ltd, the project management arm of JSW Group, announced that it will be acquiring a 49% stake in Brahmani River Pellets Ltd (BRPL) from Aryan Mining and Trading Corp Pvt Ltd. Financial details of the transaction were not disclosed.

It said “The company has executed definitive agreements to acquire 49% equity shares of BRPL from Aryan Mining. The acquisition is subject to approval from the Competition Commission of India and other conditions precedent as set out in the definitive agreements.”

Established in 2006, BRPL manufactures and sells iron ore pellets. The company currently owns a 4 million tonne per annum pellet production plant in Jajpur, Odisha, a 4.7 million tonne per annum iron ore beneficiation plant in Barbil, Odisha, and a 230km slurry pipeline connecting the pellet plant with the beneficiation plant.

Aryan Mining and Trading Corp. is a unit of Moorgate Industries Group, which was set up to hold the Indian iron ore assets of UK’s debt-ridden steel trader Stemcor Group when it was restructured through a UK court process in 2015, in the aftermath of a crash in steel prices worldwide due to excess capacity in China and sluggish demand.

The deal with JSW Group comes just a couple of months after rival Tata Steel Ltd terminated an agreement to acquire 100% stake in BRPL for around INR 900 crore.

Source : Strategic Research Institute
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JISF welcomes Australian decision to revoke anti-dumping measures on HR steel

The Japan Iron and Steel Federation announced that on December 16, the government of Australia determined to revoke the anti-dumping measures on hot rolled coil imported from Japan as a result of the sunset review. During the sunset review proceedings, the Japanese steel industry has claimed that the revocation of the anti-dumping measures on hot rolled coil imported from Japan is not likely to lead to continuation or recurrence of material injury to the Australian steel industry.

JISF said “The Japanese steel industry welcomes this decision which has accepted our arguments and also expresses our sincere gratitude to everyone who extended their support to us.”

Source : Strategic Research Institute
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Taiwan steel firm behind toxic dump in Vietnam fined again

Citizen Co Za reported that a Taiwanese steel firm behind a toxic spill that killed tonnes of fish in central Vietnam last year was fined for a second time for illegally burying “harmful” waste. Official sources said that the deadly dump from Formosa’s USD 11 billion steel plant in Ha Tinh province sparked one of the country’s worst environmental catastrophes, decimating livelihoods along swathes of coastline and prompting months of rare protests in the authoritarian country.

According to the official Cong Ly newspaper, the firm was initially fined USD 500 million for pouring toxic chemicals including cyanide into the ocean in April 2016, and has now been ordered to pay an additional USD 25,000 on separate charges of burying harmful solid waste in the ground.

Cong Ly, the mouthpiece of the Supreme Court said that a local contractor will also be fined USD 20,000 for helping to dispose of the 100 cubic metres of waste.

An official in Ha Tinh province confirmed the latest fine to AFP on Sunday, without providing further details.

The waste was buried in July 2016, and local residents reported seeing trucks ferrying the material to a farm belonging to the contractor hired to dispose of it.

Police confirmed the waste came from Formosa and launched an investigation last year. Officials would not comment on why it took more than a year to issue the nominal fines.

The toxic spill set off angry demonstrations against the company and the government in the one-party state that routinely jails its critics, including by affected fishermen who demanded greater compensation.

Source : Citizen Co Za
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ArcelorMittal South Africa starts paying fine in installments
Published on Tue, 19 Dec 2017

Reuters reported that ArcelorMittal South Africa, which has agreed to pay ZAR 1.5 billion (USD 116.85 million) fine for colluding to fix steel prices in five installments, will be allowed to pay the first of those in three parts. ArcelorMittal SA said it had reached an agreement with South Africa’s Competition Commission to divide the first payment into three tranches of ZAR 100 million (USD 7.79 million) each. It said “The Commission has taken into account the company’s financial position, resulting from the tough trading conditions in the global and local steel industries.”

It has paid ZAR 100 million rand and will pay a second and third installment of that size on April 1 and July 1 before reverting to annual payments of at least ZAR 300 million, as agreed.

The company agreed last year to pay a record ZAR 1.5 billion fine in five annual installments of no less than ZAR 300 million each. The Competition Commission also imposed a five year-long 10 percent cap on the company’s EBIT margin on domestic sales of flat steel products.

It launched an investigation in 2008 after concerns were raised that steel mills had been charging import parity prices, or prices that consumers would pay if they imported steel, since 2002.

Source : Reuters
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Kobe steel scandal - Quality control flaw suspected at scandal

Japan Times reported that a certification body for the International Organization for Standardization has found a potentially severe quality control flaw at a Kobe Steel iron powder plant at the center of a data falsification scandal. Data manipulation has already been discovered at the Takasago Works, a manufacturing base for iron powder in Hyogo Prefecture.

Informed sources said that the Tokyo-based private certification body, JIC Quality Assurance Ltd will re inspect the Kobe Steel Ltd. plant after corrective measures are taken. But if the steps are found insufficient, the plant’s ISO certification may be suspended or canceled.

The sources said that some Kobe Steel group plants have had their Japanese Industrial Standards and ISO certifications suspended or revoked. If the Takasago Works is slapped with a certification freeze or cancellation, the group’s credibility will tumble further.

Iron powder is molded to make automobile and parts with complex shapes.

Kobe Steel falsified related data so that it looked as if the density levels of the iron powder met clients’ standards. Still, the company has said that no major impacts on performance can be expected from products that use parts made from the suspect powder.

The sources said that but JIC Quality Assurance’s extraordinary inspection after the data falsification scandal broke found that the quality control system for Takasago Works’ iron powder might not be up to the required standards.

In the Kobe Steel group, the ISO certification of Nippon Koshuha Steel Co.’s plant in Imizu, Toyama Prefecture, was suspended in November, while that of Kobelco & Materials Copper Tube Co.’s plant in Hadano, Kanagawa Prefecture, was revoked.

Earlier this month, Shinko Metal Products Co.’s headquarters plant in Kitakyushu had its JIS certification canceled.

Source : Japan Times
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Ezz Steel considering cost reductions to boost financial and market share

Daily News Egypt reported that Ezz Steel is considering cost reductions in order to boost its financials and increase its market share amid fierce competition. Mr Kamal Galal, investor relations manager at Ezz Steel said that “We are currently working on plans to reduce costs to boost the company’s financial results and at the same time maintain the quality we introduce to our customers.”

He explained that “Our sales are on the rise. In the past nine months we almost doubled our sales when compared to the same period during 2016.”

According to company financial results, seen by Daily News Egypt, Ezz Steel’s consolidated sales grew 97% in the first nine months (9M) of the year, standing at EGP 29.4 billion versus EGP 14.9 billionn in the corresponding period of 2016.

Third quarter (Q3) net sales further improved, growing 17% over Q2 2017.

Mr Gala stressed that “The company is also benefiting from a surge in product prices.”

Prices increased significantly in the first nine months of 2017 due to the steep devaluation of the Egyptian pound.

Long steel prices were up 83% and 126% in the local and export markets, respectively. Flat steel prices increased by 120% in the local market and 160% in the export market in 9M 2017, compared to the prior year-period.

He confirmed that “That could explain why we are on track to gain more customers amid fierce competition in the market.” He added that “Reducing costs is a priority at the current stage.”

Consolidated cost of goods sold for 9M 2017 represented 91% of sales.

The company said in its financial report that “This was largely due to low capacity utilisation of our plants during that period. At 9%, the 9M 2017 gross profit margin was slightly lower than the 10% recorded in 9M 2016.”

Source : Daily News Egypt
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US DoC postponement of preliminary determination in the countervailing duty investigation on forged steel from China

On October 25, 2017, the Department of Commerce (the Department) initiated a countervailing duty investigation of forged steel fittings from the People's Republic of China. Currently, the preliminary determination is due no later than December 29, 2017.

Section 703(b) of the Tariff Act of 1930, as amended (the Act), requires the Department to issue the preliminary determination in a CVD investigation within 65 days after the date on which the Department initiated the investigation. However, section 703(c)(1)(A) of the Act permits the Department to postpone the preliminary determination until no later than 130 days after the date on which the Department initiated the investigation if the petitioners make a timely request for a postponement. Under 19 CFR 351.205(e), the petitioners must submit a request for postponement 25 days or more before the scheduled date of the preliminary determination and must state the reasons for the request. The Department will grant the request unless it finds compelling reasons to deny the request.

On November 24, 2017, the petitioners submitted a timely request that the Department postpone the preliminary CVD determination. Noting the comments filed with respect to respondent selection and the scope of the investigation, the petitioners stated that a postponement is necessary due to the difficulty in determining which companies imported subject merchandise, and the possibility that the Department may find it necessary to select additional respondents or issue quantity and value questionnaires. Finally, the petitioners state that a postponement is necessary to allow them sufficient time to identify additional subsidy benefits not addressed in the Petition once the Department identifies the mandatory respondents.

In accordance with 19 CFR 351.205(e), the petitioners stated the reasons for requesting a postponement of the preliminary determination, and the Department finds no compelling reason to deny the request. Therefore, in accordance with section 703(c)(1)(A) of the Act, the Department is postponing the deadline for the preliminary determination to no later than 130 days after the date on which this investigation was initiated, i.e., March 5, 2018.[4] Pursuant to section 705(a)(1) of the Act and 19 CFR 351.210(b)(1), the deadline for the final determination of this investigation will continue to be 75 days after the date of the preliminary determination, unless postponed at a later date.

This notice is issued and published pursuant to section 703(c)(2) of the Act and 19 CFR 351.205(f)(1).

Source : Strategic Research Institute
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Japanese spare part maker in Indonesia agree to increase steel local content

The Jakarta Post reported that Japanese automotive spare parts producer Sango Corporation has agreed to use products of state-owned steelmaker Krakatau Steel as part of Sango’s efforts to increase local content. Under the agreement, Krakatau Steel will process raw materials imported by Sango to become wire rods that will be used by Sango to produce automotive spare parts in its factory in Karawang, West Java.

Krakatau Steel president director Mas Wigrantoro Roes Setyadi told reporters in Jakarta that "Through the cooperation, Krakatau Steel will produce 40,000 tons of wire rods a year. Production will start early next year.”

The Indonesian automotive sector uses about 150,000 tons of wire rods a year, mostly imported.

Meanwhile, Industry Minister Airlangga Hartarto welcomed the agreement, saying it would increase local content in the automotive industry in the country. The ministry added that “The cooperation will set a milestone in Indonesia’s automotive industry.”

Mr George Halasi president director of TSIG Holding Pty Ltd, a Sango subsidiary, said his company had invested USD 40 million, but the total investment was projected to reach USD 95 million.

However, Mr Halasi said the investment projection relied on the ministerial regulation and the market prospect of automotive spare parts. He added that the local content of its products will initially be at about 30 percent and will be gradually increased to 60 percent.

Source : The Jakarta Post
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UK steel industry has been neglected by the government – Mr Gill Furniss

Labour Org reported that Mr Gill Furniss, Shadow Steel Minister, commenting on the publication of the Government’s study into the ‘Future Capacities and Capabilities of the UK Steel Industry said that “For too long the UK steel industry has been neglected by this Government. Their Industrial Strategy merely paid lip service to industry whilst failing to provide any tangible solutions or to respond to the Steel Sector Deal proposal.”

He added “The opportunities outlined in today’s report can only be harnessed with full Government backing and support. Labour will create a level playing field for the UK steel industry so it can compete globally and take full advantage of the opportunities on offer’.”

Source : Press Labour
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This Week's Raw Steel Production

In the week ending on December 16, 2017, domestic raw steel production was 1,698,000 net tons while the capability utilization rate was 72.8 percent. Production was 1,607,000 net tons in the week ending December 16, 2016 while the capability utilization then was 67.8 percent. The current week production represents a 5.7 percent increase from the same period in the previous year.

Production for the week ending December 16, 2017 is up 1.6 percent from the previous week ending December 9, 2017 when production was 1,672,000 net tons and the rate of capability utilization was 71.7 percent.

Adjusted year-to-date production through December 16, 2017 was 86,751,000 net tons, at a capability utilization rate of 74.4 percent. That is up 4.3 percent from the 83,165,000 net tons during the same period last year, when the capability utilization rate was 70.5 percent.

Broken down by districts, here's production for the week ending December 16, 2017 in thousands of net tons: North East: 213; Great Lakes: 628; Midwest: 167; Southern: 623 and Western: 67 for a total of 1698.

The Raw Steel production tonnage provided in this report is estimated. The figures are compiled from weekly production tonnage provided from 50% of the domestic producers combined with monthly production data for the remainder. Therefore, this report should be used primarily to assess production trends.

The AISI production report "AIS 7", published monthly and available by subscription, provides a more detailed summary of steel production based on data supplied by companies representing 75% of U.S. production capacity.
Note: Capability for the Fourth Quarter 2017 is approximately 30.6 million tons compared to 30.7 million tons for the same period last year and 30.6 million tons for the Third Quarter of 2017.

www.steel.org/about-aisi/statistics.aspx
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Tokyo Steel to raise prices for a second time in January

Published on Tue, 19 Dec 2017

Reuters reported that Tokyo Steel Manufacturing Co Ltd, Japan’s top electric-arc furnace steelmaker, would raise its product prices for a second straight month in January due to tight market conditions at home and abroad and expectations for higher market prices. Prices for steel bars, including rebar, will increase by 3,000 yen (USD 26.63), or 4.6%, to 68,000 yen a tonne, while prices for U shaped steel-sheet piles will rise by 3,000 yen, or 3.1%, to 99,000 yen a tonne.

Tokyo Steel’s pricing strategy is closely watched by Asian rivals such as South Korea’s Posco and Hyundai Steel Co, as well as China’s Baoshan Iron & Steel Co Ltd (Baosteel).

Source : Reuters
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