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voda 16 augustus 2019 14:09

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Fire at ArcelorMittal Poland Krakow Steelworks Coke Conveyor Belt Extinguished

ArcelorMittal Poland announced that that was taken yesterday afternoon by the coke conveyor belt at the Krakow steelworks was extinguished. It said “The fire was extinguished by the plant fire brigade and the PSP unit. After a detailed review of the installation status, we will be able to assess the extent of damage. We don't know the reason for the fire yet. A thorough investigation will be carried out on this matter.”

It had said on August 14th “Please be advised that this afternoon a coke conveyor belt caught fire in the Krakow steelworks. Our in-house fire brigade works together with PSP units. The smoke is visible from afar, because the conveyor belt is located at a height of several meters above the ground. The fire is not spreading. We informed the Provincial Fire Brigade Headquarters and the Provincial Inspectorate for Environmental Protection about the event.”

Source : Strategic Research Institute

voda 16 augustus 2019 14:11

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Indian Steel Companies Outlook Remain Weak – Ind Ra

Fresh trouble for the Indian steel industry is brewing with coking coal prices rising due to production cut announced by one of the largest mines in Australia. Steel companies have been maintaining monthly imports despite slowdown in demand, impacting their profits. India Ratings and Research (Ind-Ra) expects coking coal prices to remain elevated on near-to-medium term. The Rating Agency said that another area of key concern is the auction of merchant mines by March 2020. Any material delay in the due process could lead to disruption in domestic steel production in FY21.

It said that iron ore prices have risen 48% to USD 135 a tonne in July largely due to Brazil-based Vale SA, a global leader in iron ore and nickel production, cut its production on account of the collapse of a dam in January. However, in July, Brazilian supply showed signs of recovery and this revival shall further be fuelled by Vale resuming operations at the closed mines. Moreover, considering the depreciation of Chinese currency due to levy of new tariffs by the United States (US) and with mills reluctant to increase iron ore inventories owing to the muted demand, Ind-Ra expects iron ore prices to fall in coming months.

On the other hand, steel demand is expected to revive from the affordable housing and infrastructure sectors, bolstered by various government schemes and projects. However, demand from the automobile sector is likely to be muted.

Overall, India Ratings expects fundamentals of the steel sector to remain weak this fiscal with the risk of softening of prices, elevated raw material prices and weak demand.

Source : Strategic Research Institute

voda 16 augustus 2019 14:11

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EC Reduces Quota Increase in Steel Safeguard Review

Following a review of market safeguard measures imposed February 2, European Commission has reduced the planned increase in tariff-free steel quotas to 3% from 5% across all product categories, noting that 2018 was a record year for shipments to the EU. EC said "This less-pronounced liberalization means that the total quotas available during the third period will be limited to 31.6 million tonnes, i.e. 1.5 million tonnes below the distorting 2018 record. Moreover, this adjustment will fully preserve the liberalisation effect, because the total quotas during the second year would be 31 million tonnes and so are about one million tonnes more than the level of imports measured during 2017."

For hot-rolled coil (category 1), the EC, in both volume and origin terms, will also establish a limitation of 30% to the share in the global quota that any single exporting country can reach per quarter during the remaining duration of the measures. With respect to category 1, the EC also said Turkey, India and Serbia have been able to replace the import shares lost by those countries that reduced their level of imports following the imposition of the anti-dumping and countervailing measures and that Russia has recovered a substantial part of its historical trading volume despite being subjected to anti-dumping measures.

The commission is also proposing to amend the hot-dip galvanized products quotas (codes 4A and 4B), so that imports into the 4B quota can demonstrate an end-use in the automotive sector. In addition, India will be granted a country-specific quota for 4A, as it does not export significant volumes of auto-grade galvanized steel.

The EC also said that in two product categories, namely 13 (rebars) and 16 (wire rod), the mechanism put in place to ensure that the TRQ (tariff rate quota) is fully used has led to unintended effects. Countries with country-based quotas were able to "crowd out" traditional import flows from other origins in the last quarter of the period, to which all importers get access.

In June, senior steel executives including from Outokumpu, Salzgitter, and a division chief at ArcelorMittal, urged the Commission to scrap or postpone the 5% increase which took effect on July 1.

Source : S&P Global

voda 16 augustus 2019 14:14

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JSPL Announces Q1 Result

During quarter ended June’2019, JSPL continued its growth momentum with increasing volumes and expanding margins in both Steel & Power businesses. Globally, the quarter ended June’2019 saw a contrasting phenomenon in steel, marked by gradual decline in steel prices against rising iron ore prices. Even in India, the downtrend in steel prices continued across various products for most steel manufacturers, both in long and flat categories. The reducing liquidity in the markets further exacerbated the steel demand during the quarter.

JSPL Standalone Q1 of FY 20 Performance
1. Turnover: INR 7,085 Crore;
2. EBITDA: INR 1,608 Crore;
3. EBITDA Margin: 23%
4. Steel and related products production: 1.57 million tonnes up 17% YoY
5. Steel and related products sales: 1.51 million tonnes up 16% YoY
6. Crude Steel production: 1.46 million tonnes up 19% YoY
7. Crude Steel sales:1.43 million tonnes up 20% YoY

JSPL Consolidated 1QFY20 Performance
1. Turnover: INR 9,946 Crore;
2. EBITDA: INR 2,173 Crore;
3. EBITDA Margin: 22%
4. EBITDA – Oman: USD 25.7 million
5. Crude Steel Production: 1.85 million tonnes; up 12% YoY
6. Crude Steel Sales: 1.84 million tonnes up; 14% YoY

JPL 1QFY20 Performance
1. Turnover: INR 1,114 Crore
2. EBITDA: INR 360 Crore
3. EBITDA Margin: 32%
4. Power Generation – 2,982 Million

JSPL Standalone Performance

Despite of such challenging environment, JSPL Standalone reported a rise of 17% for Steel & related products, to 1.57 million tonnes (1.35 million tonnes in 1QFY19) while sales during 1QFY19 increased to 1.51 million tonnes (up 16% YoY). Crude Steel production in Standalone rose 1.46 million tonnes (up 19% YoY) while sales came at 1.43 million tonnes (20% up YoY).

The revenues for JSPL Standalone came in at INR 7,085 Crore (up 5% YoY). On the back of sustained efforts to market & sell Value-added & differentiated products, further supported by cost saving initiatives, the company reported an increase in margins to 23 % from 19 % in 4QFY19. JSPL Standalone reported EBITDA at 1,608 Crore in the reported quarter. In 1QFY20, Rails sold were more than double as compared to same period last year. Similarly, efficiency improvements projects helped the Company bring costs down across both Raigarh & Angul plants.

During 1QFY20, production of pellets was maintained at 1.76 million tones, similar to same period last year. The company achieved external sales of pellets of 0.52 million tonne during 1QFY20.

Voor cijfers, zie pdf

Source : Strategic Research Institute

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voda 16 augustus 2019 14:15

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SAIL to Raise INR 5,000 Crore via NCDs & Bonds

Financial Express reported that sitting on a high debt of INR 48,500 crore at the end of the first quarter of the current fiscal, Steel Authority of India proposes to raise further debt by up to INR 5,000 crore in the next one year through private placement of secured non-convertible debentures/bonds. The company intends to use the debt to part-fund its ongoing capacity program and convert some short-term debts into longer tenure. SAIL said in a letter to the shareholders ahead of the annual general meeting “On analysis of the various options of raising funds through borrowing in domestic and international markets, it has been decided by the board of directors to raise funds through private placement of secured non-convertible debentures/ bonds to the extent of INR 5,000 crore during the year,”

According to Edelweiss, SAIL has INR 3,200 crore debt repayment obligation in the current fiscal. SAIL also proposes to spend INR 4,000 crore on capacity expansion this fiscal.

SAIL reduced its debt to INR 45,170 crore as on March 2019 from INR 45,409 crore a year earlier. However, debt further rose to INR 48,460 crore at the end of the first quarter of the current fiscal. As on March 2019, the debt-equity ratio of the company stood at 1.2:1. The company paid INR 3,155 crore on interest and finance charges alone in 2018-19.

Source : Financial Express

voda 16 augustus 2019 14:16

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Handan City in Hebei Province to Cut 11 Million Tonne Steel Capacity in 2019-2020

SMM reported that Handan city in China's top iron and steel production base of Hebei will cut its capacity by 11.03 million tonnes in 2019-2020, as part of the efforts to control air pollution and phase out excessive capacity By 2020, some 40% of the iron, steel making capacity in Handan will be removed compared with the start of 2013.

According to the official, Handan reduced a total of iron making capacity of 17.83 million tonnes and steelmaking capacity of 13.93 million tonnes in 2012-2018.

Source : SMM

voda 16 augustus 2019 14:21

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Eurasian Economic Commission Lowers HR Steel Imports Quota

The Eurasian Economic Commission, comprising of Russia, Belarus, Armenia, Kazakhstan and Kyrgyzstan, will impose a quota for hot-rolled flat steel imports to members of the Eurasian Economic Union for one year starting from December 1, 2019. The total quota for the EEU bloc will be 1.33 million tonnes and volumes exceeding the quota will be a subject to a 20% special duty. The defensive measure will not be applied to shipments from developing countries, the least developed countries or to shipments from the Commonwealth of Independent States. The measures will, however, will apply to imports from former CIS associate member Ukraine.

The quota is lower than the amount of HR flat steel imported by Russia alone in 2018.

The EEC opened the trade case after three Russian flat steel producers Magnitogorsk Iron & Steel Works, Novolipetsk Steel and Severstal lodged a complaint in August 2018.

Source : Strategic Research Institute

voda 16 augustus 2019 14:22

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South Korea Demands Fair Ruling in Vietnam Steel Investigation

South Korea has demanded Vietnam make a fair ruling on an ongoing investigation into Korean firms’ alleged dumping of their steel products in the Southeast Asian country. On Thursday, Korean officials from the Ministry of Trade, Industry and Energy met their Vietnamese counterparts in Da Nang and called on the Vietnamese government to make a fair decision in the anti-dumping probe on Korean steelmakers.

Vietnam began a probe in October last year to see if Korean steelmakers sold their color coated galvanized steel sheet products at prices lower than market value and is expected to come up with a final ruling in October this year

Source : Yonhap

voda 16 augustus 2019 14:23

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Suggestions of Confirmed British Steel Buyer Pure Speculation – Unite

Unite assistant general secretary Steve Turner said that suggestions of a confirmed buyer for British Steel are at this stage pure speculation and that Unite will meet with the administrator Ernst & Young on Thursday to raise concerns over on going selective leaks and discussing the real issues surrounding potential bidders for the business. Mr Turner said that “Unite understands from previous scheduled meetings that there are three serious bidders who are interested in buying British Steel as a going concern. Unite is clear that we will support any serious offer for the business as a whole from a bidder who understands the need for long-term investment in the business and has the capital to ensure that this world class, innovative, operation receives it. Investment in tooling and plant as well as product development and a loyal workforce are key to the long-term future of this foundation industry. Stability alongside investments, is critical if we are to maintain confidence in the market, our customers, suppliers and workforce.”

Mr Turner said UK steel production is a core foundation industry, crucial to any positive industrial strategy and the health of a host of other UK industries including our automotive, construction, rail and wider manufacturing sectors.
“
He added that “In this whole process it is essential that the Government plays its part in ensuring that the UK steel industry can compete on a level playing field with its competition, this includes action to reduce high use energy costs, business rates and a disastrous consequences of a no-deal Brexit, which not only impact on exports but would again see cheap steel dumped into the UK market.”

With regards to the potential bid from the Turkish military pension fund, he said “While we welcome it as a serious proposition, Unite will be watching this closely and speaking with our Turkish sister unions given Turkey’s record of repression alongside reported opposition to independent trade union organisation in its Turkish steel plants.”

Source : Iris Examiner

voda 16 augustus 2019 14:29

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Mechel Reports 1H2019 Operational Results

Leading Russian mining and metals company Mechel has announced 1H2019 operational results. Mechel CEO Mr Oleg Korzhov said “The steel division ensured pig iron and steel output at the previous quarter’s level. In July we halted one of Chelyabinsk Metallurgical Plant’s blast furnaces for a major overhaul due to be completed by the year’s end. At the same time, we expect that this year’s output of Chelyabinsk Metallurgical Plant’s finished products will remain at the 2018 level. “The eight-percent increase in long rolls sales in 2Q2019 was due to a traditional seasonal spike in demand on construction markets in Russia and the CIS, particularly for rebar. Sales of stainless long rolls remained at the previous quarter’s level. In this accounting period we began shipping off rails on a new annual contract with Russian Railways, which led to a major increase in rail production at our universal rolling mill. Also in the second quarter we began shipping rails on key contracts with Belarusian Railways and Moscow Metro. Early in 3Q2019 the universal rolling mill made an important achievement — it produced its millionth tonne of rails. Thus rails accounted for 40% of the mill’s total output. De facto we became one of the world’s leading rail producers and are ready to participate in infrastructure projects. “In the second quarter, domestic sales of flat rolls went down by 2%. At the same time we increased sales of stainless flats to third parties by 12%. This is a highly profitable business segment and we consider it to be strategically important for the Group. Experts say that importers currently account for 90% of the market for stainless flats. This means that there are opportunities for import substitution in this product range, which we are already using, and we plan to continue moving in this direction.”

Voor cijfers, zie pdf.

Source : Strategic Research Institute

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voda 16 augustus 2019 14:29

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Materials Services Introduces State-Of-The-Art Digital Supply Chain

thyssenkrupp Materials Services is continuing its digitalization offensive with the introduction of a flexible IT infrastructure for smart, agile management of all processes along the supply chain. Material deliveries, customer purchase orders, order execution, transportation logistics – the digital accelerator DESCA can process and forward millions of datasets in seconds. And it’s customers who benefit the most: With DESCA, Materials Services is shortening order lead times, optimizing warehousing logistics and paving the way for new supply chain services. So the system truly lives up to its name: DESCA stands for Digital Extended Supply Chain Accelerator.

DESCA is an important element of thyssenkrupp Materials Services’ strategy. Under its “Materials as a Service” approach the western world’s biggest materials distributor guarantees its customers access to global supply markets combined with in-house process expertise in the form of tailored supply chain solutions. So in addition to its core materials distribution business, Materials Services is systematically expanding its portfolio of services.

DESCA is based on SAP HANA. Unlike conventional ERP systems DESCA allows flexible integration of data from various internal and external sources. For example, order information can be compared with processing data from Materials Services’ connected machinery – in the future also in real time and via an app. This is a particularly attractive option for sectors that place high demands on a flexible supply chain such as the aerospace industry. That’s why DESCA was first put through its practical paces at selected branches of thyssenkrupp Aerospace in North America.

Source : Strategic Research Institute

voda 16 augustus 2019 14:40

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Moody's Downgrades thyssenkrupp To Ba3

Moody's Investors Service downgraded to Ba3 from Ba2 the corporate family rating and to Ba3-PD from Ba2-PD the probability of default rating of German steel and diversified industrial company thyssenkrupp AG. Concurrently, Moody's has downgraded to Ba3 from Ba2 the ratings on the group's senior unsecured debt instruments, including the downgrade to (P)Ba3 from (P)Ba2 of the ratings on the debt issuance programme. Moody's has further affirmed the short-term ratings of tk at NP/(P)NP. The outlook on all ratings has been changed to stable from rating under review. This rating action concludes the review for downgrade, which Moody's initiated on 14 May 2019.

The downgrade to Ba3 follows tk's weak results for the third fiscal quarter ended 30 June 2019 (Q3-18/19), which led to a further deterioration in its Moody's-adjusted leverage and free cash flow metrics. The rating agency also believes that it will take longer than previously anticipated for tk to improve its profitability and negative free cash flow generation in light of an increasingly challenging economic environment. Particularly sluggish demand from the automotive industry negatively impacted profitability in the group's Components Technology, Materials Services and the re-integrated Steel Europe business areas. Margins in SE were additionally burdened by a surge in raw material costs, especially for iron ore, which reached a multi-year high in June due to supply shortages. Although the Elevator Technology business recorded higher sales and better margins in Q3-18/19, and losses in the Industrial Solutions and Marine Systems divisions could be significantly reduced, this was insufficient to offset the material profit decline in the other businesses.

Moody’s said that the stable outlook assumes that tk will retain a healthy liquidity profile and be able to gradually strengthen the profitability across all business areas and return to positive free cash flows by 2020/21. The outlook also reflects Moody's expectation of tk to successfully execute its new strategy, including the proposed IPO of ET, and use related cash proceeds primarily for debt reduction.

Source : Strategic Research Institute

voda 16 augustus 2019 14:41

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Science based Targets Approves thyssenkrupp Climate Targets

The Science Based Targets initiative has approved thyssenkrupp’s climate targets. At the same time the organization has confirmed that thyssenkrupp is acting in line with the goals of the 2015 Paris climate conference, where the international community agreed to limit future global warming to well below two degrees. The SBTi is a collaboration between CDP, the United Nations Global Compact, World Resources Institute and the World Wide Fund for Nature. Its aim is to establish science-based climate targets as standard business practice, by defining and promoting best practice in science-based target setting. To this end, the targets defined by companies are subject to an extensive independent assessment based on the latest climate science. There are today only 10 German companies whose climate targets have been approved by the SBTi.

thyssenkrupp recently announced that it aims to become climate-neutral by 2050. To achieve this, the company has set two binding medium-term targets which have both been validated by the SBTi: Compared with the base year 2018, emissions from production and sourced energy (scope 1 and 2 greenhouse gas emissions) are to be cut by 30 percent. This target is in line with an emission reduction pathway of “well below two degrees Celsius”. In addition, emissions from the use of products and technologies by customers (scope 3 greenhouse gas emissions) are to be reduced by 16 percent compared with the base year 2017.

Donatus Kaufmann, thyssenkrupp Board member responsible for technology, innovation, sustainability, legal and compliance said that “We are proud to gain SBTi validation. It shows that our Group continues to play a leading role in climate protection.”

Mr Alberto Carrillo Pineda, Director, Science Based Targets at CDP, one of the Science Based Targets initiative partners, said that “We congratulate thyssenkrupp on setting ambitious climate targets in line with the goals of the Paris Agreement. As one of the largest industrial conglomerates in Europe, thyssenkrupp’s goal to reach net-zero emissions, backed by strong science-based targets, sends an important signal to policymakers about the readiness of the industrial sector to transition towards a net-zero carbon economy. We urge policymakers to act in support of this transition by setting a clear long-term direction and enabling policy frameworks.”

thyssenkrupp aims to achieve its targets related to own production and sourced energy by transforming its steel production towards direct-reduction with hydrogen, carbon capture and use technology, energy efficiency measures and the increasing use of renewables. To reduce emissions at customers thyssenkrupp focuses on technologies for carbon capture and use, solutions for the production of green hydrogen and the storage of renewable energy as well as e-mobility.

Source : Strategic Research Institute

voda 16 augustus 2019 14:42

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Steel Suspended Space Lab Will Mimic Lunar Environment

Last year, Japan Aerospace Exploration Agency and ANA Holdings Inc announced a plan to open a research campus dedicated to advancing space exploration. The campus is due to break ground in Japan’s Oita prefecture in 2020. One of the central structure for the research is a simulated moon crater suspended on steel cables. In the words of the project architect, steel was chosen as the most feasible and proven system to realize the unique design.

A pioneering space technology research campus, which will be used as a test field for a consortium of global tech companies, is due to break ground in Japan in 2020. The project is a partnership between ANA Holdings Inc and Japan Aerospace Exploration Agency both experts at launching vehicles into the atmosphere and is part of Avatar X, a collaborative program for the advancement of space exploration and development.

Avatar X has identified three areas that will benefit from the campus’ research: remote construction in space, operation and maintenance of space stations and facilities from Earth, and space-based entertainment and travel for the general public.

Mr Masayuki Sono, project architect said that “The overall structure looks like the wheel of a bicycle, which is laid onto the crater, and the building itself forms the central hub and is supported on steel cable ‘spokes’, forming a ‘tensegrity’ structure.”

Oita is a coastal prefecture on Japan’s Kyushu Island, and the former mining site already resembles the lunar surface. The new campus will consist of several buildings as well as a moon simulation terrain, which will be used to experiment with the remote semi-autonomous construction of lunar surface habitats using avatar robots.

Clouds Architecture Office – a New York firm known for the Staten Island 9/11 memorial, and for working with Nasa to develop the Mars Ice Home – has completed concept designs for a masterplan and three buildings at the Oita campus: a research and development centre, a moon environment simulator, and the Avatar X lab building, which will be situated at the heart of the campus floating above a moon-like crater.

Avatar X hopes to begin testing avatars in Low-Earth Orbit in the mid-2020s, and the other-worldly robotics research lab will certainly be a unique symbol, representing the leading edge of technological development, which will help humans to live and work in space.

Source : Strategic Research Institute

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voda 16 augustus 2019 14:43

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Efforts on to Standardise Steel Quality in Pakistan

Dawn reported that as the demand for steel bars grows in the wake of increase in infrastructure products and construction of high-rise housing projects, the government has decided to implement standards in the sector. The Pakistan Standards and Quality Control Authority has called a meeting of all stakeholders and experts after Eid holidays to establish steel standards and its implementation across the country. The initial paper prepared by PSQCA shows that only 10-15% steel mills out of around 800 in the country were following the quality standards in producing steel bars used for the construction sector.

Senator Ahmed Khan, chairman Senate Standing Committee on Industries and Production said that “The business of steel bars is growing but the challenge faced by construction sector is ensuring quality and this becomes serious especially while executing the government sector infrastructure project such as bridges.” He added that the quality of raw material was one of the key impediments in construction of high rise buildings in the country. He stressed that “We have serious housing and office space shortage, the construction industry is vibrant but ensuring quality standards of certain raw material including steel is essential.”

The PSQCA has formed a committee in this regard to revise steel bar standards for ensuring its quality. It will also suggest the enforcement procedure to this end.

Source : Dawn

voda 16 augustus 2019 14:44

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Thyssen Krupp to build advanced forging line

Thyssen Krupp has announced its decision to build a new forging line at its Homburg site in Germany’s Saarland region. The companywill invest some 80 million euros in the new facility to produce forged front axles for trucks, and long-term delivery contracts have already been signed with truck manufacturers. This production expansion represents the biggest single investment ever made at the company’s Homburg site. Mr Alexander Becker, CEO of the Forged Technologies business unit at ThyssenKrupp, said that “Our customers have made a conscious decision to place their orders with our Homburg site in order to secure the reliable supply of these specialised parts in Europe in times of international customs risks and rising logistics costs. This will allow the Homburg site to demonstrate its production expertise, product quality and delivery performance in the international market-place.”

The plant has long been one of the most efficient production sites in Thyssen Krupp’s global forging network. It is market leader for forged crankshafts, supplying automotive customers world-wide; the production of truck front axles will open up a new market for the company.

Moreover, these components are powertrain-independent and will continue to be needed even when e-mobility starts to make greater inroads into the transport sector.

The centrepiece of the new highly automated and digitised forging line in Homburg will be a 16,000-tonne capacity forging press some 10m high and weighing 1,700 tonnes.

Mr Franz Eckl, COO of the Forged Technologies business unit, said that “The main press of the new forging line will be the world’s first eccentric press of this size, capacity and output to go into operation. It will produce around 360,000 forged components a year and will not be restricted to one product; in addition to front axle systems, this forging line will be able to produce crankshafts and other forged parts as required.”

Source : Strategic Research Institute

voda 16 augustus 2019 14:45

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Northwest Pipe Bags Steel Pipe Contract for Bois d'Arc Lake Project

Northwest Pipe Company announced it was selected by Garney Construction to supply both sections of the treated water pipeline for the Bois d’Arc Lake project, which represents over 22,000 tonnes of pipe. This portion of the project will convey treated water, from the new Leonard Water Treatment Plant currently under construction to existing pipeline infrastructure within North Texas Municipal Water District’s service area. Garney Construction is a Construction Manager At-Risk for the North Texas Municipal Water District. Manufacturing is scheduled to begin later this year following manufacturing completion of the previously awarded sections of the raw water pipeline.

Mr Scott Montross, President and CEO of Northwest Pipe Company said that “We look forward to again working with Garney Construction on this critical project to supply the water needs of many North Texas communities.”

Source : Strategic Research Institute

voda 16 augustus 2019 14:45

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Dongkuk Steel Reports Loss In Q2

Yonhap reported that Dongkuk Steel Mill Co swung to the black in the second quarter of this year from a year earlier due to cost-cutting efforts. Net profit reached 20.6 billion won (USD 17 million) in the April to June period on a consolidated basis, compared with a loss of 190.2 billion won a year ago. Its sales fell 1% on year to reach 1.49 trillion won in the second quarter, but operating profits soared 145% on year to 79.2 billion won. Despite the decline in sales, the company said its cost-cutting efforts led to improved profitability, while solid demand for its key products, such colored sheets and steel bars, also helped.

In the first six months, Dongkuk Steel logged a net profit of 21.3 billion won, a sharp turnaround from a net loss of 229.1 billion won a year earlier. Sales reached 2.8 trillion won, while its operating profit was tallied at 127.5 billion won.

Source : Yonhap

voda 16 augustus 2019 14:46

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Canada to Support Stelco with CAD 49 million

Canada’s Minister of Seniors Filomena Tassi, on behalf of Navdeep Bains, Minister of Innovation, Science and Economic Development, announced CAD 49.9 million investments in Stelco to support a CAD 412 million project that will create 75 jobs and maintain 2,200 more in Ontario. This investment will enable Stelco to upgrade its facilities in Hamilton and Lake Erie, Ontario, to modernize its steel production lines; improve its ability to supply customers in advanced manufacturing sectors; expand its suite of products; and bring new and innovative products to the North American market.

Mr David Cheney, CEO of Stelco, said “Stelco has a proud history of bringing innovation to market by revolutionizing the steelmaking process and through the products we develop for our customers. Through this partnership with the Government of Canada, we intend to continue that tradition by modernizing our facilities and empowering our 2,300 employees to manufacture the next generation of steel products our customers demand.”

Source : Strategic Research Institute

voda 16 augustus 2019 14:52

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EC Starts Investigation on Hot Rolled Stainless Steel from China, Taiwan & Indonesia

The Commission has initiated an anti-dumping investigation into imports of hot rolled stainless steel sheets and coils from China, Indonesia and Taiwan. The investigation follows a complaint lodged by the European Steel Association on the grounds that the imports from these countries are made at dumped prices and hence causing injury to the European producers. The complaint requests to calculate the dumping margin in line with the EU new anti-dumping methodology, ie taking into account market distortions and distorted raw material prices in China and Indonesia. The Commission has now up to eight months to collect evidence and decide whether to impose provisional measures. This new trade defence investigation is part of the larger Commission action aiming shield EU producers from unfair competition from dumped and subsidies products. So far, the Commission put in place trade defence measures on 52 steel products and is investigating another seven.

The European Commission has received a complaint pursuant to Article 5 of Regulation (EU) 2016/1036 of the European Parliament and of the Council of 8 June 2016 on protection against dumped imports from countries not members of the European Union, alleging that imports of certain hot rolled stainless steel sheets and coils, originating in the People’s Republic of China, Taiwan and Indonesia, are being dumped and are thereby causing injury to the Union industry.

The complaint was lodged on 28 June 2019 by Eurofer, the European Steel Association (‘the complainant’), on behalf of four Union producers representing the entirety of Union production of certain hot rolled stainless steel sheets and coils.

Product under investigation - The product subject to this investigation is flat-rolled products of stainless steel, whether or not in coils (including products cut-to-length and narrow strip), not further worked than hot-rolled. HS codes 7219 11, 7219 12, 7219 13, 7219 14, 7219 22, 7219 23, 7219 24, 7220 11 and 7220 12.

The following products are excluded - Products, not in coils, of a width of 600 mm or more and of a thickness exceeding 10 mm.

Source : Strategic Research Institute

Vertraagd	25 feb 2025 12:10
Koers	27,010
Verschil	+0,180 (+0,67%)
Hoog	27,040
Laag	26,520
Volume	653.844
Volume gemiddeld	2.623.177
Volume gisteren	1.746.632

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