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voda 24 januari 2015 16:24

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Norilsk Nickel says weak ruble helps metal prices offset fall

Reuters reported that falling metal prices are being more than offset by the ruble slide, allowing Russia's Norilsk Nickel to maintain margins despite lower foreign currency earnings.

Mr Vladimir Potanin, CEO and co-owner of Norilsk Nickel, Russia's 8th richest man with a USD 12.6 billion fortune from the world's largest nickel and palladium miner, said that if metal prices remained at current levels, Norilsk's 2015 foreign currency revenues would decline from a year earlier to USD 10 billion.

But he said that lower metal prices would not affect the company's earnings before interest, tax and depreciation margin, which would exceed 40% this year. He did not provide data for 2014.

Many Russian companies have been hit by a downturn in the economy, suffering from weak oil prices and Western sanctions over the Ukraine crisis, but exporters are enjoying the 50% drop in the ruble since the beginning of last year.

Mr Potanin said that more important for his core business, based 300 kilometers inside the Arctic Circle where it is dark for more than a month in winter, were prices for the company's main metal products.

Nickel, which makes up the bulk of Norilsk's sales, has fallen more than 40% since May to USD 14,700 a tonne, while copper prices hit a 5-1/2 year low of USD 5,548 a tonne last week.

Mr Potanin said a briefing in Norilsk city, where prisoners of Josef Stalin's labour camps built the first smelter in the 1930s thar "The decline in nickel and copper is causing a revenue decline. However, ruble depreciation is significantly compensating the price decline."

The mining giant, 30% owned by Mr Potanin alongside Oleg Deripaska's aluminium giant RusAl and powerful tycoon Roman Abramovich, is one of Russia's key exporters and needs to find a balance between satisfying shareholders and maintaining good ties with the Kremlin.

Late last year, the government told large exporters to sell foreign currency revenue on the domestic market regularly to try and support the sliding ruble, but Potanin said there had been no pressure to boost foreign currency sales.

Mr Potanin said that Norilsk's strategy of selling non-core assets to focus on large, low-cost Arctic production projects was unchanged and that there would be no change in its dividend policy following the ruble's slump.

Its dividends are an important income source for RusAl, which is also benefiting from the weak ruble but still has to service a USD 10 billion net debt.

According to Mr Potanin, Norilsk, which is not under Western sanctions, can still access international capital markets and this year it will work on refinancing a USD 1 billion debt, which the USD 23 billion company should repay in 2016.

He also said that the company, which mines 14% of the world's nickel and 40% of its palladium, could consider buying small volumes of its shares to support the price, but had no plans to launch an official buy-back programme.

Norilsk is still interested in buying palladium from Russia's Central Bank, Potanin said, adding there had been no reply from the bank on its offer. He hoped the ruble weakness might spur action.

Source - Reuters

voda 24 januari 2015 16:28

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BHP to write off USD 350 mln from value the of Nickel West operations

The West Australian reported that BHP Billiton will write off as much as USD 350 million from the value of its Nickel West operations, following its failure last year to find a buyer for the troubled division.

BHP said that it was likely to book an after-tax impairment of USD 200 million to USD 350 million in its February half-year financial statement as the result of "operational decisions" made after the Nickel West sale process was pulled last November.

It is understood BHP's sudden decision to suspend development work at its high-grade Venus nickel project and cancel some improvement works at the Kwinana refinery will be factored in to the impairment. The company is also likely to write down the value of its Leinster operations to factor in the 2013 closure of its Perseverance underground mine on safety grounds.

Including the latest impairments, BHP has now written off more than AUD 5.5 billion from the value of Nickel West since the global financial crisis crunched nickel prices in 2008, or about AUD 4 billion on an after-tax basis. Nickel West was the centrepiece of BHP's AUD 9.2 billion acquisition of WMC in 2005.

BHP's December-quarter report showed Nickel West produced 23,700 tonne of nickel in the quarter and 48,700 tonne in the 6 months to December 31st, almost 10% less than production levels in the second half of 2013.

Last year BHP told Nickel West staff it would only inject enough capital into the business to sustain operations, raising the prospect it could cease to exist as an integrated operation by the end of the decade. BHP said that it would continue to operate the business to maximise production, reduce operating costs and increase free cash flow.

BHP said that it expects Nickel West to produce 95,000 tonne of nickel this financial year.

It said that its Pilbara iron ore expansion was on track to meet its 225 million-tonne target for the financial year. BHP's mines produced 124million tonne in the December half, 15% more than in the same period the previous year.

Prices for its products dropped markedly, however, with the company disclosing an average price for its iron ore products of USD 70per tonne, before freight costs. It received an average price of USD 96 per tonne in the H1 and USD 112 per tonne in the 2013 December half.

The global resources giant is also under pressure from plunging prices in its oil and gas division. MR Andrew Mackenzie CEOof BHP said that BHP would cut the number of drilling rigs on its US onshore projects by 40% by June 30.

Mr Mackenzie said that BHP would consider further cuts to oil and gas spending if it decided deferring development would create more value.

Source - The West Australian

voda 25 januari 2015 15:08

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Mega stainless steel expo Indinox 2015 starts at Gandhinagar

Mrs Anandiben Patel chief minster of Gujarat inaugurated Indinox-2015, world’s biggest integrated stainless steel exhibition, organized by the Indian Stainless Steel Development Organisation at Mahatma Mandir in Gandhinagar.

Union Minister of Mines, Steel and Labour & Employment Mr Narendra Singh Tomar, Gurudev Shri Guruwandanaji and luminaries of stainless industry of India and abroad including stainless Steel guru Mr Markas Maul and Outokumpu Asia Pacific head Mr Austin Lu were also present on this occasion.

Mrs Patel wishing this mega exhibition a grand success, expressed that this will open innumerable opportunities for global stainless steel manufacturers and will further promote ‘Make in India’ slogan given by our PM Mr Narendra Modi. She expressed her worries that despite being capable, Indian steel industry has not realized its full potential. She attributed negative policies of the last decade for this deteriorated condition, but also added that now good days have already begun with new proactive government at the center which has already started to take steps to boost the economy. She added While inaugurating the Indinox 2015 Gujarat Cm said " The stainless steel should manufacture value added products other than utensils that has zero effect and zero defect , this will help in increase in production of stainless steel in the country and also generate more jobs" .

Earlier the Union Minister for Steel and mines Mr Narendra Singh Tomar urged the industry to increase production and generate jobs, He assured the industry to remove all hurdles including halting increasing imports from china. Mr Tomar said “To increase the production of steel, we need to increase mining. Our country has the capacity to produce 101 million tonne of steel, but we are producing only 81 tonne. Similarly in stainless steel sector, we are producing only 3.3 tonne against our capacity of 5.3 tonne. To increase the production, we need to change several laws and rules. We also need to bring reforms in our policy. I assure the industry that we will take appropriate steps in this direction soon.”

Asia Pacific head of Outokumpu Mr Austin Lu urged the Gujarat government to consider using stainless steel in building 182 meter tall ‘Statue of Unity’, a tribute to the iron man of India Sardar Vallabhbhai Patel. He said “Presently, it been designed to last for about 100 years. While such projects in other parts of the world are being designed to withstand the ravages of 1000 years. It is the stainless steel which can provide the lasting solution.”

According to industry estimates, stainless steel consumption in India is much less than what is seen in other developed nations. Against India's per capita stainless steel consumption of 1.6 kg per annum, Europe has an average per capita stainless steel consumption of about 10 kg while China consumes about 6 kg. Taiwan has one of the highest stainless steel consumption of about 15 kg.

Source – Strategic Research Institute

voda 29 januari 2015 16:36

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Tiangao Nickel plant to halt production

Yunnan Tiangao Nickel Company Limited announced to halt production by the end of February due to high nickel ore purchasing price and poor profitability. The production will be resumed after the lunar New Year once low grade ferronickel market turns to be better.

Source - www.steelhome.cn/en
China steel information centre and industry database

voda 29 januari 2015 16:50

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Universal Stainless posts solid Q4 and 2014 results

Universal Stainless & Alloy Products Inc reported that net sales for the fourth quarter of 2014 were USD 53.0 million, which is 31% higher than the fourth quarter of 2013, and is in line with third quarter 2014 net sales of USD 53.6 million.

For the full year of 2014, net sales increased 14% to USD 205.6 million compared with USD 180.8 million in 2013. Sales of premium alloys also increased 8% sequentially, 26% from the fourth quarter of 2013, and 30% for the full year as compared to 2013.

It said “Net sales increased significantly in all of the Company's targeted end markets, with aerospace sales up 40%, power generation sales up 16%, oil & gas sales up 53%, and heavy equipment sales up 27% compared with the fourth quarter of 2013. Fourth quarter 2014 net sales also increased sequentially from the third quarter of 2014 in all the Company's targeted end markets, with the exception of oil and gas”

The Company's gross margin for the fourth quarter of 2014 was USD 8.9 million, or 16.8% of net sales, the highest level in 2014. The Company's gross margin was USD 1.5 million, or 3.7% of sales, in the fourth quarter of 2013. For the full year, the Company's gross margin was USD 32.0 million, or 15.6% of net sales, more than double its gross margin for full year 2013 of USD 13.9 million, or 7.7% of net sales.

Operating income for the fourth quarter of 2014 was USD 3.1 million, matching USD 3.1 million in third quarter of 2014. In the fourth quarter of 2013, the Company reported an operating loss of USD 2.6 million. On a full year basis, the Company posted operating income of USD 10.9 million compared to an operating loss of USD 4.0 million for 2013.

Net income for the fourth quarter of 2014 was USD 1.7 million, or USD 0.24 per diluted share, and included USD 0.03 per diluted share of favorable year-end tax adjustments, which were primarily related to the recently extended R&D tax credits. For the third quarter of 2014, net income was USD 1.4 million, or USD 0.20 per diluted share. In the fourth quarter of 2013, the Company recorded a net loss of USD 2.9 million, or USD 0.41 per diluted share.

For full year 2014, the Company's net income increased to USD 4.1 million, or USD 0.57 per diluted share, which included two discrete tax charges in the first quarter of 2014 totaling USD 0.12 per diluted share. For full year 2013, the Company reported a net loss of USD 4.1 million, or USD 0.58 per diluted share.

Chairman, President and CEO Mr Dennis Oates commented: "Our solid fourth quarter results capped a year of strong recovery for our company as we grew our top-line, improved our margins and returned to full profitability. Our management team, which we have deepened over the past year, focused on execution in every quarter, including the seasonally slow fourth quarter, with positive results. Among the highlights of the fourth quarter, we realized the highest sales dollar per pound in our history as we made further progress in moving to higher value added products. Our sales mix combined with improved cost performance and yields contributed to our fourth quarter gross margin of 16.8%, the highest in over two years, despite lower surcharges, which were primarily impacted by the decline in nickel prices at the end of the year.”

He added "As we enter 2015, we see encouraging levels of business in all of our end markets, with the exception of oil & gas. We intend to pursue all market opportunities as part of our broader and ongoing effort to move our company to higher value products."

Source – Strategic Research Institute

voda 30 januari 2015 16:53

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Outokumpu calls for use of stainless steel in Statue of Unity Project

Business Standard reported that the stainless steel industry has identified huge opportunity for stainless steel consumption in mega projects like the Statue of Unity or the 182 meter long Sardar Patel's statue at Kevadia near the Sardar Sarovar Dam in Bharuch district of Gujarat.

Mr Austin Lu, Asia Pacific head of Outokumpu, the World's largest stainless steel player, said that "Statue of Unity is presently being designed to last for about 100 years. While worldwide such projects are being designed to withstand the ravages of 1,000 years. It is the stainless steel which can provide the lasting solution."

Mr Yatinder Pal Singh Suri, India head of Outokumpu, said that "It means lots of savings by reducing the ongoing repair and maintenance costs of such structures."

Source – Business Standard

voda 30 januari 2015 17:09

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Negotiations on CR austenitic stainless sheets in Asia not Lackluster at all - TEX

TEX reported that the Japanese mills are proceeding with negotiations on cold rolled (CR) austenitic stainless steel sheets for Asia for shipments of February and March across the Chinese New Year holiday, which are in a state to be lackluster at all.

It is because the number of inquiries is few and it is in a state to be difficult to conclude contracts as even in negotiations with customers having a long-term business relationship, customers require big price reductions.

As the LME nickel price is falling to the level of USD 6.50 per pound, cheap price products are marketed. Rerolling mills' offer prices are the level of USD 2,200 to 2,300 CFR. Such prices are on a same level with those of hot rolled austenitic stainless steel coils. A mill source is observing that the main market prices will be the level of USD 2,400 CFR.

In case of the Japanese mills, even if they offer prices at the level of USD 2,500 CFR, things are turned out for them to be requested to cut their prices to the level of USD 2,400 CFR once they enter into negotiations.

When the domestic price of CR austenitic ones is presumed to be 300,000 yen per ton, an export price becomes USD 2,500 CFR or so being profitable at an exchange rate of 120 yen to the dollar but partly due to the unstable exchange rate, they are difficult to proceed with negotiations aggressively.

Chinese and Taiwanese austenitic stainless sheets begin to flow back to the Asian region. The export suspension from both countries due to Europe's antidumping (AD) decision coming close against them is greatly attributed to it.

As among Asian countries, AD cases on austenitic stainless sheets have been immoderately filed, further turmoil of the market is increasing. Under such circumstances, a price rise cannot be expected at all. The Japanese mills are seeing for negotiations to have virtually ended.

Meantime, prices of CR ferritic stainless steel sheets are dropping for a while now. They dropped even gradually by around USD 50 for a month or two. They are likely to have fallen having been dragged down by a price fall of austenitic ones.

Source - The TEX Report

voda 1 februari 2015 14:35

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Global Ferronickel targets 11pct rise in ore exports

Reuters reported that Global Ferronickel Holdings Inc of aims to increase ore exports this year by up to 11% to 7 million wet metric tonnes, mostly intended for Chinese customers.

Mr Dante Bravo Executive Vice President of Global Ferronickel said that “The Company could boost annual nickel ore exports in two years to 10 million WMT if it is able to develop another local mine as planned.”

Global Ferronickel is seeking to raise at least USD 170 million from a share sale to fund expansion, aiming to profit from higher ore prices and exports triggered by a ban on shipments of ore from Indonesia.

The Philippines in 2014 became the biggest ore supplier to China's producers of nickel pig iron, used to make stainless steel, after Indonesia halted ore exports from January last year.

Mr Bravo said that the company is targeting total shipments of 6-7 million WMT from the Cagdianao mine this year, compared with last year's record high 6.3 million WMT.

He confirmed a Reuter’s report earlier this month that the company was in talks with potential cornerstone investors that include some of its top customers such as trading companies and end-users in China.

Source – Reuters

voda 2 februari 2015 16:42

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Nippon Steel has developed the new stainless steel of HRX19TM

Nippon Steel & Sumitomo Metal Corporation has developed the new stainless steel, HRX19TM, for use in high pressure hydrogen environments and launched the sales in combination with Nippon Steel & Sumikin Stainless Steel Pipe Company Limited HRX19TM has already been used for heat exchangers, joints and valves of commercial use hydrogen stations.

HRX19TM will be shown to the specialists and the public for the first time at the 11th International Hydrogen & Fuel Cell Expo, to be held at the Tokyo Big Sight on February 25-27, 2015.

This is a high-strength austenitic stainless steel and is manufactured under conditions of full integration from raw materials procurement to final processing, enabling NSSMC to guarantee quality.

HRX19TM has three distinctive features:
(1) Excellent resistance to hydrogen gas embrittlement;
(2) High strength, and
(3) Excellent weldability.
This steel can contribute to reduction of costs and the improvement of maintainability and safety in constructing hydrogen stations.

(1) Excellent resistance to hydrogen gas embrittlement;
HRX19TM has a level of additive nickel similar to that of conventional Type316L, and amounts of manganese and chromium, which are cheaper elements than nickel, that raise the Ni equivalent (This is a measure of hydrogen resistance; see Note 1. The Ni equivalent of 32.09% or more is guaranteed.) to one of the highest levels achieved in austenitic stainless steel. This contributes to lengthen piping life in the stations and improve safety.

(2) High strength
HRX19TM is about twice as strong as Type316L, the conventional material for use in high-pressure hydrogen environments. This means that it enables stations can be designed with thinner walls and for pipes to be made greater inside diameters, resulting in larger capacity and shorter hydrogen filling time.

(3) Excellent weldability
The conventional Type316L tubes have been connected with a joint and valves, requiring hundreds of joints for one station. It also requires many processes. In contrast, thanks to superior weldability, HRX19TM can be welded and the weld can have the same level of high strength and hydrogen gas embrittlement resistance as the welded metal. This means that specifying HRX19TM contributes to reduce use of joints and valves, makes threaded part thinner, and lower maintenance costs.

HRX19TM has already been adopted for commercial hydrogen stations constructed by Iwatani Corporation, Tokyo Gas Co., Ltd., and other companies in Japan. The outlook is for future increase in practical use of hydrogen energy, and NSSMC and NSSP are looking forward to contributing to that change.

Source - Strategic Research Institute

voda 3 februari 2015 18:38

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Outokumpu unveils stainless steel for high application segments in India

Finland based Outokumpu, leading stainless steel manufacturer its enhanced range of formidable products and technical services on the growing demand for critical requirement in emerging high end application segments in India which includes energy, oil and gas, chemical processing, water treatment and desalination plants.

Mr Yatinder Pal Singh Suri, Country Head, Outokumpu India while unveiling the products at customer meet, said that “Stainless steel is an ideal material to create lasting solutions in demanding applications from cutlery to bridges, energy to medical equipment, it is 100% recyclable, corrosion-resistant, maintenance-free, durable and hygienic.”

Mr Suri said that “As a leading global stainless steel supplier, Outokumpu offers sustainability and cost efficiency through a longer life-cycle than that of more traditional materials .Outokumpu’s portfolio comprises of high performance austenitic grades, Duplex grades, high temperature grades for clients requiring high performance stainless steel as well as martensitic grades, ferritic grades and standard austenitic grades for clients requiring standard stainless steel. Company’s specialty stainless steels provide for sustainable solutions for safer and more reliable processes.”

He said that “Outokumpu has been propagating messages about sustainable solutions provided by the Group's specialty stainless steels. These stainless steels achieve the lowest life cycle cost, optimal productivity and higher profitability. The world-leading stainless steel producer with the broadest product portfolio and biggest R&D centres , Outokumpu supplies materials for water treatment, desalination, sub-sea equipments, oil refining, chemical tankers, nuclear energy and ports, enhancing profits and productivity for the end user with competitive cost advantage.”

Mr Peder Claesson, Product Manager, Duplex stainless steel , Outokumpu, Avesta, Sweden, said that “Our products can be found in upstream and downstream applications, from oil and gas production to transport and storage, refineries, LNG plants and petrochemical units. utokumpu supplies materials and products to a broad spectrum of applications within the oil and gas industry, including riser pipes and casing tubes below sea level and process piping, above sea level. Furthermore, it supplies piping systems and ballast water piping for seawater handling and tube plates, heat pump panels, and heat exchanger plates for customers requiring heat exchangers.

Mr Claesson said that “As wells go deeper and systems become heavier, the industry reaps major benefits from Duplex stainless steel with its superior mechanical strength.”

He said that “At Outokumpu we have pioneered the development of Duplex, delivering nearly 40 per cent of all Duplex production in the world today and we continue to actively develop new duplex applications for the industry.”

Source - Strategic Research Institute

voda 3 februari 2015 18:51

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Sumitomo sees first nickel deficit in 5 years

Sumitomo Metal Mining Company of Japan expects global output of the metal to fall short of demand in 2015 for the first time in five years as supply from China drops.

Mr Hiroshi Sueta, general manager at the Tokyo based company’s nickel sales and raw materials department said that “Demand will exceed production by 12,000 tonnes compared with a 36,000 tonnes surplus last year. China’s production of nickel pig iron, a cheaper alternative to the refined metal, may drop 15% from a year earlier to 365,000 tonnes.”

Mr Sueta said that “Ore stockpiled in China will be probably exhausted by around the middle of this year. They must review their NPI production for the latter half of this year.”

The forecast deficit represents 0.6% of global nickel production this year, and will help London Metal Exchange prices stabilize above the current level. Output is forecast to expand 1.5% to 1.99 million tonnes.

Nickel advanced 9% last year, the most among the six main metals on the LME, as Indonesia, the world’s biggest producer from mines, barred unprocessed ore exports in January. The metal for delivery in three months on the LME rose 1.8% to USD 15,165 per tonne on January 30.

Nippon Steel & Sumitomo Metal Corporation the world’s second biggest steelmaker, cut its profit forecast by 28% on Jan. 29 as plunging crude prices hit an operation in Brazil that produces pipes for oil producers.

Mr Sueta said that Sumitomo Metal Mining will announce in April its production plan for the next fiscal year, based on ore supply and prices. The company plans to purchase about 60% of its ore from two producers in New Caledonia through supply contracts and the remainder from a mine in the Philippines.

Source - Bloomberg

voda 3 februari 2015 19:00

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Shangtai Industrial invested 1 million tonnes annual stainless steel capacity

Inner Mongolia Shangtai Industrial Company Limited invested CNY 4.8 billion on a project of 1 million tonnes annual stainless steel capacity. Now it has completed an investment of CNY 1.9 billion.

At present, foundation construction of two ferronickel ore furnaces has been completed. On the completion, apart from accommodating 2000 people, the project is supposed to produce 0.6 million tonnes ferronickel and 1 million tonnes stainless steel annually with annual output value reaching CNY 15 billion and tax exceeding CNY 1.5 billion.

Source - www.steelhome.cn/en
China steel information centre and industry database

voda 3 februari 2015 19:01

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Steady rise in world stainless steel production forecast for 2015 - MEPS

The annual total global stainless steel production for 2014 is estimated to have reached an all-time high of 41 million tonnes. This exceeds the previous record mark, set in 2013, by 7.6%. MEPS predicts that worldwide output will increase by a further 4.9% to a new peak figure of 43 million tonnes.

In 2014, the outturn in all of the traditional stainless steel making regions, except South Korea, was higher than in the previous year. The recovery was particularly strong in the United States and Japan, though more moderate in the EU and Taiwan. However, production in all of these established stainless steel making countries and regions remains significantly below the peak figures achieved in 2006.

This trend is, of course, more than outweighed by the expansion of production in China and other emerging nations. China’s output last year is estimated to be more than 4 times the 2006 figure. The growth of Chinese production will, inevitably, slow from the rapid rate of recent years. We do anticipate, though, that output will continue to climb by more than 5 percent in 2015, to reach 22.9 million tonnes. This would represent more than 50 percent of global stainless steel production.

Source - MEPS

voda 4 februari 2015 16:57

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China to boost stainless steel export with One Belt and One Road

China’s stainless steel apparent consumption in 2014 reached 17.464 million tonnes with a year on year increment of 1.737 million tonnes or 11% which fell 4.5% points YoY.

According to statistics from Customs, China totally exported 3.852 million tonnes stainless steel in 2014, seeing YoY increment of 1.165 million tonnes or 43.4%.

Meanwhile, China yielded 23.161 million tonnes stainless steel crude steel in 2014, increasing 3.261 million tonnes or 16.4% YoY. China, whose stainless steel capacity occupies half of world total capacity, is suffering from mild over supply capacity.

As China’s slowing growth becomes the new normal; overseas markets’ prospect is uncertain and commodity products’ prices are slumping down, China’s champion industrial enterprises are busy in searching new business.

Against that background, Beijing, China came up with a solution by introducing the One Belt and One Road (OBAOR) strategy, with a view to create new markets for China’s products through promoting China’s infrastructure investment in less-developed countries. One Road refers to Maritime Silk Road in 21st century, and One Belt means the Silk Road Economic Belt.

According to Li Xinchuan, vice secretary general of CISA, One Belt and One Road brings us lots of opportunities. Also, Mr Lin Yifu, former chief economist of World Bank believed that, despite of China’s over supplied capacity in construction materials, this strategy has benefits on global economy as well as China’s stability and development.

However, in some cases, the goal is seemingly self-contradictory, especially when China’s investment at abroad erodes the demand for Chinese products.

Source - www.steelhome.cn/en
China steel information centre and industry database

voda 5 februari 2015 17:05

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Global stainless steel output and consumption keep going up in 2014-15 - HSBC

According to Hong Kong and Shanghai Banking Corporation, in 2015, the global output of stainless steel will rise by 2 % YoY and will further rise by 4.1 % in 2016.

HSBC pointed out that China would become the main engine of supply growth in the global stainless steel market, furthermore, with China economy’s growth and the increasing intension of stainless steel consumption, China’s domestic stainless steel demand would continue expanding.

HSBC announced in its latest report that, during 2013-2018, it was estimated that the global stainless steel demand’s compound annual growth rate would reach 4.6 %, which would support the nickel demand. Meanwhile, China and America’s stainless steel demand is going to grow robustly, and the compound annual growth rate would reach 6.6 % and 6.3 % respectively.

HSBC assumed that nickel market will see a bright prospect owing to the limited supply. From the respect of market demand, although Indonesia’s export ban policy worsened the supply situation, new projects are poising to produce in full swing. HSBC predicted that nickel price would rise to USD 22,000 per tonne in 2016, while may drop to USD 21,000 per tonne in 2017.

The increasing world stainless steel production will well shore up ferrochrome demand. However, HSBC forecasted that ferrochrome price would remain depressed, owing to the oversupply, and ferrochrome price would drop by USD 1.12 per pound in 2015, and drop by USD 1.18 per pound in 2016.

Source - www.steelhome.cn/en
China steel information centre and industry database

voda 5 februari 2015 17:14

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Nickel Asia eyeing to top record ore sales in 2015

Reuters reported that Nickel Asia Corporation, the Philippines' biggest nickel miner by output and sales, is looking to ramp up ore exports this year after record sales in 2014 as market expectations of a global supply shortfall persist.

The miner, partly owned by Japan's Sumitomo Metal Mining Company Limited, shipped 17.8 million WMT in 2014 to its Japanese and Chinese customers, up 28% from a year earlier and exceeding its target of 17 million WMT.

Mr Gerardo Brimo President & CEO of Nickel Asia said that "We will always try to do better. Nickel Asia was a standout in the Philippine stock market last year, with its shares gaining more than 200% as ore sales boomed after the then world's top nickel ore exporter, Indonesia, banned exports.

He said that Nickel Asia shares rose 3.2% but have fallen more than 12% this year, retreating from a record high of 32.85 pesos hit on January 14.

He said that the Philippines in 2014 became the biggest ore supplier to China's producers of nickel pig iron after Indonesia banned exports. It remains uncertain until when the one-year-old ban will remain in place.

Source – Reuters

herbie bell 9 februari 2015 14:30

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China’s Production of Stainless Crude Steel in 2014 Is 21.692 Mil. Tons
= Up by 14% from prior year and especially production of 200 series is up =
Stainless Steel Council of China Special Steel Enterprises Association announces China’s production of stainless
crude steel in the full year 2014 (January - December) was 21.692 million tons, up by 14.3% from the prior year. The
production of all steel types was up from the prior year, and especially the main steel type which contributed to increased
production was manganese-containing products (200 series).
According to the rough estimate on the quarterly production, as to the stainless crude steel production volume in
the period from October to December, the production volumes of chrome-containing products (400 series) and nickelcontaining
products (300 series) were down from the prior period, but the increased production of manganese-containing
products raised the level and the total production volume was up by 6.3% from the prior period.
Besides, this announcement also reports the import and

voda 10 februari 2015 17:10

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Budget Update - Wish List of Indian stainless steel sector

Mr NC Mathur President of Indian Stainless Steel Development Association has issued wish list of ISSDA from government for Union Budget 2014-15.

Taxes and import duty anomalies are critically affecting the stainless steel sector's viability. As a result companies are under severe financial stress. To prevent this, import duties need to be rationalized or scrapped, as required.

1. Import duty on SS flat products needs to be increased from 7.5% to 10%. (China has 10% duty, while Brazil imposes 14%).

2. Abolish import duty on raw materials

i) Manganese, chrome, and molybdenum ores, hydroxides and other salts to zero from 2.5%

ii) Nickel is not available indigenously; duty should be abolished.

iii) Coking coal from 2.5%; should be abolished.

iv) Iron ore from 2.5% to nil, since this is a primary raw material for steel making

v) Stainless steel scrap from 2.5% to nil

vi) Increase in peak rate of Basic Custom Duty from 10% to 25% for the steel sector.

The above measures will help create a level-playing field for domestic steel manufacturer's vis-a-vis Chinese manufacturers who enjoy subsidies and state protection in multiple ways. In addition to this, domestic manufacturers will be able to utilize capacities which are lying idle.

Source - Strategic Research Institute

voda 12 februari 2015 17:07

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Russian stainless steel imports up 2pct in Dec from Nov

According to Russia based SpetsStal Association, Russian imports of stainless steel products in December last year increased by 2% MoM.

In the given month, Russian imports of stainless steel seamless pipes increased by 127.9%, ERW stainless steel pipe imports moved up by 37.7% and pipe fittings imports rose by 46.6% all MoM basis.

In December, imports of stainless flat steel products declined by 3.6% imports of long stainless steel products decreased by 23.4% and imports of stainless slabs and ingots declined by 82.6% all MoM basis.

Source -Visitwww.steelorbis.com for more

voda 13 februari 2015 12:43

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Lagere winst voor ArcelorMittal

VRIJDAG 13 FEBRUARI 2015, 07:31 uur | 8481 keer gelezen

LUXEMBURG (AFN) - Staalconcern ArcelorMittal heeft in het vierde kwartaal van 2014 zijn bedrijfsresultaat (ebitda) met 5 procent zien dalen tot 1,8 miljard dollar (bijna 1,6 miljard euro), onder druk van de lagere ijzerertsprijs. Dat maakte 's werelds grootste staalproducent vrijdag bekend.

Door de sterke gedaalde prijs van ijzererts, de grondstof voor staal, werden de mijnbouwactiviteiten van ArcelorMittal flink geraakt.

Over heel 2014 bedroeg de ebitda 7,2 miljard dollar, een stijging met 8,5 procent ten opzichte van een jaar eerder. Dat was te danken aan een verbetering van de Europese en Amerikaanse staalmarkt. Daarmee voldoet het resultaat aan de gemiddelde verwachting van economen en de eigen doelstelling van het bedrijf. De omzet was vrijwel onveranderd op 79,3 miljard dollar.

Afschrijvingen

Voor 2015 rekent het bedrijf op een resultaat tussen de 6,5 tot 7 miljard dollar. ArcelorMittal zei dat de marktomstandigheden moeizaam blijven, maar dat de staalmarkten naar verwachting verder zullen verbeteren. “De prognose is gebaseerd op de huidige prijzen voor ijzererts en staal”, aldus financieel topman Aditya Mittal.

ArcelorMittal leed over heel 2014 een nettoverlies van 1,1 miljard dollar. Dat was te wijten aan afschrijvingen in onder meer Azië. Als deze lasten buiten beschouwing worden gelaten, was een winst onder de streep gezet, aldus het bedrijf. In 2013 kwam het nettoverlies nog uit op 2,5 miljard dollar.

Groei

Vorig jaar verscheepte het bedrijf 85,1 miljoen ton staal, een stijging met 3 procent. Voor dit jaar rekent het concern op een groei van de verschepingen met 4 tot 5 procent.

De nettoschuld zakte aan het einde van 2014 naar 15,8 miljard dollar. Het bedrijf denkt de schuld in de loop van dit jaar te kunnen verlagen naar de doelstelling van 15 miljard dollar. Verder wordt verwacht dat de jaarlijkse kostenbesparingen aan het einde van dit jaar zullen uitkomen op 3 miljard dollar.

De kapitaalinvesteringen nemen dit jaar volgens ArcelorMittal af naar 3,4 miljard dollar, tegen 3,7 miljard dollar een jaar eerder.

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