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voda 23 september 2019 19:48

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SAIL Chairman Statement on New Corporate Tax Rate

Mr Anil Kumar Chaudhary Chairman SAIL on new Corporate Tax Rate said that “The decision of the Government to reduce the Corporate Tax Rates and a slew of other measures augur well for boosting the economic activities in the Country. It is a welcome move which will bring in investment in new projects from freed up cash leading to employment opportunities, manufacturing growth and stimulus towards higher consumption. This move is surely expected to have positive effect on the Steel Industry which has strong forward and backward linkages.”

Source : Strategic Research Institute

voda 23 september 2019 20:40

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National Steel to Build USD 500 million Complex in Salalah

Muscat Daily staff reported that Saudi Arabia’s National Steel Company has signed an agreement with Salalah Free Zone Company to establish Oman’s largest iron industries complex with an estimated investment of USD 500 million in Salalah Free Zone. On its Twitter account, SFZ said that the agreement was signed by Mr Ali bin Mohammed Tabouk, chief executive officer of Salalah Free Zone Company and Mr Sheikh Ahmed al Shahin, chairman for National Steel Company in Riyadh. The construction for the new iron industries complex project, which will create 500 direct jobs, will start in the first quater of 2020.

Mr Tabouk said that the complex will have a capacity to manufacture 150,000 tonnes of iron products. In a statement to Oman News Agency, Mr Tabouk said this project is a significant leap for investments in the region, pointing out that the plant will use the latest technology and innovative engineering designs that will help in reducing the construction cost up to 20% and project time up to 50% in steel related products.

He said that “Sixty-five per cent of the factory’s production will be exported to the regional markets and it will manufacture various steel products that are used in the manufacture of refrigerators, generators, panels, steel roofs, heavy structures for large commercial and residential buildings, bridges, commercial complexes, factories and gas stations.”

Source : Muscat Daily Staff

voda 23 september 2019 20:40

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OSHA Investigates worker death at Sterling Steel Plant

The Associated Press reported that Occupational Safety and Health Administration is investigating the death of a 46-year-old Illinois man who was found earlier this week at a steel company after likely falling from a silo taller than 60 feet. Sauk Valley Media reports that David Hanna was found dead before 7 AM on September 17 at Sterling Steel Company. Whiteside County Coroner Joe McDonald says the Sterling man is believed to have fallen to his death while working alone the night before.

Sterling Police Sergeant Todd Messer says foul play isn't suspected.

Source : The Associated Press

voda 23 september 2019 20:46

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Brazilian Police to Press Criminal Charges against Vale & TUV SUD in Dam Breach Incident at Brumadinho

Brazilian police said the Vale SA presented fake documents backing the stability of Corrego do Feijao iron ore mine’s tailing dam, which collapsed, killing nearly 250 people and unleashing a gush of mining waste on nearby towns and that it will press criminal charges against Vale, 7 of Vale’s employees, German auditor TUV SUD and 6 of TUV’s employees. Police also said it didn’t rule out the possibility of taking executives from Vale & TUV SUD to court on accusations of homicide and environmental damage in coming days.

Vale said “Vale informs that it was made aware, on September 20th, 2019, of the first police inquiry report on the B1 Dam breach in Brumadinho MG. Vale will analyze the full content of the report in detail before making any pronunciation on its merits. The company reinforces that Vale and its employees will continue to co-operate with the authorities and will respond the charges in due time.”

Brazilian market regulator CVM has also opened at least two different administrative probes into Vale’s handling of the disaster, while the company faces more than one class action in the US.

Source : Strategic Research Institute

Bijlage:

voda 24 september 2019 16:07

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Indian Steel Industry Wants 25% Duty on Imports - Mr Seshagiri Rao

Reuters reported that India’s steel industry wants a 25% safeguard duty placed on all steel imports as steel products sourced from countries with whom India has a free trade agreement have risen substantially. Mr Seshagiri Rao, JSW’s joint managing director and group chief financial officer said that “India’s imports from FTA partners rose 77% in the current fiscal.”

He reiterated a longstanding industry demand to not include steel as part of the Regional Comprehensive Economic Partnership, a China-initiated free trade zone among countries that will encompass 45% of the world’s population.

Source : Reuters

voda 24 september 2019 16:08

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India May Invite Tenders to Set Up Rail Making Units in India

Business Standard reported that Indian government is considering a global tender for manufacturing of rails. Companies would be asked to set up production units as part of the ‘Make in India’ project. A source said that government is likely to ask for an Expression of Interest from global companies. The major entities who could take part include Voestalpine Schienen, Sumitomo Corporation, Angang Group International, East Metals, CRM Hong Kong, British Steel, France Rail and Atlantic Steel. The source added that “With Steel Authority of India and Jindal Steel & Power unlikely to meet demand from the railways, there are plans for a global tender.”

According to estimates, the requirement of rails for this financial year would be around 1.7 million tonnes. Of this, SAIL has committed around 1.35 million tonnes. The railways has so far placed orders for 130,000 tonnes worth around INR 650 crore to JSPL. Sources said there is likely to be a shortage of at least 300,000 tonnes, which the government wants to meet through the proposed global tender.

Source : Business Standard

voda 24 september 2019 16:08

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GFG Alliance to Invest EUR 200 Million in Liberty Galati

International metals and industrial entrepreneur Sanjeev Gupta pledged to invest more than EUR 200 million in the Galati steelworks to help it become a major force in the global steel industry once again. A sign of that investment is the new cutting line opened by Mr Stefan Radu Oprea, the Romanian Minister for Business Environment, Commerce and Entrepreneurship, which will enable Liberty Galati to supply a new range of products and customers. The purchase of Galati is thought to be the biggest ever UK investment in Romania. In the presence of the Minister and Andrew Noble, the British Ambassador, Mr Gupta joined around 300 employees, community leaders, customers and suppliers to formally welcome the Galati steelworks into the GFG family. Liberty Galati was bought at the beginning of July, along with six other major steelworks and five service centres across seven European countries. The EUR 740 million deal made Liberty Steel one of the top ten steel producers globally, excluding China, with a total rolling capacity in excess of 18 million tonnes covering a wide range of finished products.

Liberty Galati is the largest integrated steelworks in Romania, with a workforce of 7,500 and a production capacity of around 3.0 million tonnes of steel each year for construction, marine, oil, gas and wind energy customers. It has already increased production to more than 2.1 million tonnes this year, from around 1.7 million tonnes in 2018. Liberty has ambitious plans to grow that to more than 3 million tonnes and beyond over the next few years. To support that growth Liberty has committed to invest around EUR 200 million in the plant over the next five years and additional funds have been set aside to fund significant strategic investments which are under development.

The completion of the acquisition triggered the start of a 100-day review during which senior executives from Liberty Steel Continental Europe have worked with the Galati management team, trade unions, customers and suppliers, to complete a comprehensive analysis of the businesses. This has allowed them to explore investment opportunities and develop detailed plans to boost competitiveness, extend product range and support sales growth.

Source : Strategic Research Institute

voda 24 september 2019 16:09

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UAE Al Gharbia Pipe Company Starts Commercial Production of Large Pipe

Trade Arabia reported that Senaat a major industrial investment holding company in the UAE, has announced that one of its units, Al Gharbia Pipe Company, has launched commercial production of its large diameter, sour grade welded steel pipes in Abu Dhabi. A joint venture between Senaat and two of Japan’s leading companies in the steel sector JFE Steel Corporation and Marubeni-Itochu Steel, Al Gharbia Pipe Company is the first Abu Dhabi-Japan industrial venture. The 200,000-sq-m plant, which broke ground in Khalifa Industrial Zone Abu Dhabi (Kizad) in 2016, is the UAE’s first large-diameter, sour service capable, welded steel pipe project that has been set up at an investment of USD 299 million.

Announcing the operational milestone, Senaat said the state-of-the-art facility will manufacture longitudinally welded large-diameter, thick wall, sour service, steel pipe to service the region’s construction and energy sector.

Al Gharbia Pipe Company, a subcontractor of Habshan Trading, will soon start work for supplying conductor pipes for Hail and Ghasha offshore sour gas fields by Abu Dhabi National Oil Company.

Chairman Engineer Aqeel Abdulla Madhi said that "The successful commencement of production and the first order awarded by Adnoc at Al Gharbia Pipe Company demonstrates our commitment to local production of high-quality steel pipes. For the first time, this is being done on a commercial scale, at the state-of-the-art facility, to meet the growing demand arising from the regional industrial sectors including oil and gas, construction and transport. The project further strengthens the UAE’s industrial capabilities and the Made-in-UAE brand, while helping reduce dependence on sour grade steel pipes import and reinforcing the country’s export potential, creating jobs and business opportunities.”

Source : Trade Arabia

voda 24 september 2019 16:10

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JSW Steel Plans USD 500 Million Overseas Bond Issue - Economic Times

Sajjan Jindal-promoted JSW Steel might launch a USD 500 million bond offering to global investors this week. A report by The Economic Times said that the proceeds from the dollar-denominated bonds sale would be used to refinance some loans and the remaining would be used for general corporate purposes. This would be the third such overseas offering by JSW Steel. The previous successful bonds issue was done in April this year.

The steel-maker has already selected 11 banks as the bookrunners of the transaction, the report said.

The bookrunners might include reputed US and European banks as well as Japanese financiers who have previously loaned money to JSW Steel.

Source : Money Control

voda 24 september 2019 16:10

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US DoC AD Determinations on Steel Threaded Rod from China, India & Taiwan

The US Department of Commerce announced the affirmative preliminary determinations in the antidumping duty investigations of imports of carbon and alloy steel threaded rod from China, India, and Taiwan, finding that exporters from China, India, and Taiwan have dumped carbon and alloy steel threaded rod at the following rates: China – 4.81 percent to 59.45 percent; India – 2.04 percent; Taiwan – 32.26 percent. As a result of this decision, Commerce will instruct US Customs and Border Protection to collect cash deposits from importers of carbon and alloy steel threaded rod from China, India, and Taiwan as applicable.

In 2018, imports of carbon and alloy steel threaded rod from China, India, and Taiwan were valued at an estimated $325 million, $111 million, and $156 million, respectively.

The petitioner is Vulcan Threaded Products, Inc. (Pelham, AL).

Commerce is scheduled to announce the final determination with respect to Taiwan on or about December 4, 2019, and with respect to China and India, on or about February 11, 2020.

If Commerce’s final determinations are affirmative, the U.S. International Trade Commission will be scheduled to make its final injury determination with respect to Taiwan on or about January 24, 2020, and with respect to China and India, on or about March 26, 2020. If Commerce makes affirmative final determinations of dumping, and the ITC makes affirmative final injury determinations, Commerce will issue AD orders. If Commerce makes negative final determinations of dumping, or the ITC makes negative final determinations of injury, the investigations will be terminated and no orders will be issued.

Source : Strategic Research Institute

voda 24 september 2019 16:11

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Vietnam Ministry Postpones Plan of Tax Increase on Hot Rolled Steel Coil

Vietnam News reported that Ministry of Finance has postponed its plan of increasing the most-favored nation tariff on imported hot rolled steel coil from zero per cent to 5% after collecting opinions from businesses and experts. In its latest proposal for revision of Decree No 125/2017/ND-CP on export duty schedule, preferential import duty schedule and list of commodities and their flat tax rates, compound tax rates and outside tariff quota rates, the ministry has suggested not increasing the MFN tariff on HRC products. According to the ministry, the previous plan was derived from the concern that the worsening of US-China trade tensions could lead to a massive influx of cheap Chinese steel to the Vietnamese market, negatively affecting local steel manufacturers.

The ministry also estimated the increase in MFN tax rate from zero per cent to 5% would bring an additional VND 3.15 trillion (USD 135.3 million) to the State budget. But the actual number could be lower since businesses would seek imports from other countries with preferential tax rates of zero per cent such as South Korea and ASEAN countries.

In its response to the ministry’s previous plan, the Viet Nam Steel Associatio suggested not increasing the tax as it would not limit Chinese steel import as China is part of the free trade agreement with ASEAN countries. Under this agreement, China enjoys a zero per cent preferential import duty on HRC into Viet Nam.

Meanwhile, the tax hike would limit supply from other markets which do not have agreements with Viet Nam such as Taiwan, Australia and India.

Source : Vietnam News

voda 24 september 2019 16:11

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Danieli Breda Upgrade for Special Steel Pipe Maker Centravis

Extruded specialty steel pipe supplier to the Ukrainian market Centravis has contracted Danieli Breda to revamp the runout system for its extrusion line, supplied by a competitor in 2007. The new runout concept, developed to improve the metallurgical quality of the pipes and to reduce process inconsistency and plant availability, will be delivered during 2020. A new cooling system equipped with double cooling stations, visual inspection, and a tank bypass system, plus scrap glass recovery tools, have been custom-engineered for highly demanding pipe requirements and to meet the customer’s expectations.

The experience and know-how offered by Danieli Breda will support Centravis to consolidate and improve its market leadership in special pipe applications.

Source : Strategic Research Institute

voda 24 september 2019 16:12

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Alro Steel St Louis Expansion Complete

Alro Steel announced the expansion of the St. Louis facility at 3701 Rider Trail S., Earth City, MO 63045. The project added 54,180 square feet of space, bringing the total square footage to 162,450 square feet. The expansion includes the addition of a new plasma cutting machine and a new bay. Additional racking was also added to allow for expanded inventories of plate, sheet, alloys, stainless, aluminum, and various red metals products. This will allow the St. Louis team to better service customers throughout their region. To learn more about Alro Steel St. Louis visit their location page: Steel St. Louis Location Page

Alro Steel was founded in 1948 by brothers Al and Robert Glick. The company is a distributor of metals, industrial supplies, and engineering plastics. Alro is focused on offering cut-to-size metals and plastics with next day delivery to 25,000 customers in North America. Alro operates over 70 locations in 12 states and provides a broad inventory of products under the following companies: Alro Steel, Alro Metals, Alro Metals Outlet, Alro Industrial Supply, and Alro Plastics.

Source : Strategic Research Institute

voda 24 september 2019 16:13

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Gross Violations Multiplying Pakistan Steel Woes - Auditors General Report

Dawn reported that mismanagement is adding to the financial woes of the Pakistan Steel Mills where salaries of employees and fixed overheads are being met through bailout packages from the federal government. Auditor General Report 2018-19, observed that the PSM was at zero production level since 2015, but the mill management has not made any effort to recover PKR 2.79 billion shown as taxes refundable on its balance sheet from the tax authorities. The report highlights loss of approximately PKR 33.01 million due to non-utilisation of a vacant space [10,081 sq ft] at FTC building owned by the PSM. The auditors have suggested that the land should be rented out to generate revenues.

The report has also pointed out the PSM was overstaffed and out of 312 sanctioned strength for XENs 1,638 were employed, while 1,166 AXENs were holding positions against 794 sanctions posts.

Besides, the mill has continuously failed to recover around 344 acres of its township land encroached by various entities and the value of land has been estimated at PKR 3.44 billionn by the expert appointed by Privatisation Commission.

The report states that the PSM management shared the inquiry report in this regard with the auditors in January 2019. It said that “The audit team directed the PSM that recommendations of the inquiry committee be implemented immediately and take up the matter with the law enforcing agencies for early vacation of encroachment.”

The AGP report also highlighted cases of embezzlements and loss by the mill officers including loss of PKR 6.11 million due to misappropriation of weekly bazaar income, irregular payments of PKR 21.38 million in terms of house rent allowance to officers and employees.

Dawn

Image
www.dawn.com/news/1506641/gross-viola...

Source : Dawn

voda 24 september 2019 16:13

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Russian MetProm Group Offers to Rehabilitate Ajaokuta Steel

Punch Ng reported that Russian Company MetProm Group has made a fresh offer to the Federal Government to finally put the Ajaokuta Steel Complex into operation. The company also indicated interest in maintaining the steel mill when fully operational. The offer was formally tabled before the Federal Government on September 10.

A Russian government official, Deputy Head of Mission, Trade and Economic Affairs, Valery Shaposhnikov, who was part of the delegation, confirmed MetProm Group’s offer in an interview with our correspondent.

Source : PUNCH

voda 24 september 2019 16:31

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Billington Holding H1 Profit Up by 42%

Billington Holdings PLC reported a significantly increased first-half pretax profit and said it had a record order book over the period. The London-listed structural steel and construction safety company BILN, +8.49% posted a pretax profit of 2.7 million pounds (USD 3.4 million) for the first six months of 2019, up from GBP1.9 million in the same period last year. Revenue rose to GBP47.2 million from GBP39.4 million for the same period last year, a record result.

Chief Executive Mark Smith said that “The outlook for Billington remains positive, particularly given the group’s ability to target a diverse range of projects insulating us...I look forward to the remainder of the year and beyond with cautious optimism.”

Source : Strategic Research Institute

rationeel 24 september 2019 16:34

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Voda:) Mijn printer doet het niet, en ik krijg hem niet aan de gang.
Hij geeft aan NIET verbonden.

Heb jij een oplossing?

Hij geeft op papier aan: Install software or connect PC

voda 24 september 2019 16:34

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Pakistan Ahmed Town EDP Seals 5 Steel Mills

UrduPoint reported that a team of the Environment Protection Department sealed five steel re-rolling mills over pollution in Ahmed Town Mominpura Road. EPD Deputy Director Ali Ijaz said the mills were using sub-standard fuel and emitting excessive smoke. As per report Waqar & Aslam Auto Engineering, Ideal Steel Re-Rolling Mill, Fakeer Hussein Steel Re-Rolling Mill, Sohail Steel Re-Rolling Mill and Imran Siraj Steel Re-Rolling Mill were sealed.

Source : Urdu Point

voda 24 september 2019 16:35

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AISI update on Raw Steel Production in US in Week 38

In the week ending on September 21, 2019, domestic raw steel production was 1,809,000 net tons while the capability utilization rate was 77.7 percent. Production was 1,866,000 net tons in the week ending September 21, 2018 while the capability utilization then was 79.6 percent. The current week production represents a 3.1 percent decrease from the same period in the previous year. Production for the week ending September 21, 2019 is down 0.1 percent from the previous week ending September 14, 2019 when production was 1,811,000 net tons and the rate of capability utilization was 77.8 percent.

Adjusted year-to-date production through September 21, 2019 was 70,768,000 net tons, at a capability utilization rate of 80.6 percent. That is up 3.6 percent from the 68,321,000 net tons during the same period last year, when the capability utilization rate was 77.5 percent.

Broken down by districts, here's production for the week ending September 21, 2019 in thousands of net tons: North East: 197; Great Lakes: 703; Midwest: 187; Southern: 649 and Western: 73 for a total of 1809.

Source : Strategic Research Institute

voda 24 september 2019 16:43

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Philippine Department of Trade and Industry Denies Steel Cover Up

Manila Times reported that Philippine Department of Trade and Industry denied accusations that the agency is covering up for steel manufacturers at the expense of the safety of Filipino consumers. Trade Secretary Ramon Lopez noted that the department had tightened procedures to ensure that steel products in the market meet standards. He said that “The DTI is not and will not cover up [for] any manufacturer, steel makers or producers of steel products, nor will it compromise the safety standards that may endanger the lives of the consumers or the public in general. In fact, DTI has tightened the steel products’ certification requirements and procedures by increasing the sample size of products to be tested per shipment, and per factory, among others.”

The safety of quench tempered steel bars was earlier questioned by former senator Anna Dominique “Nikki” Coseteng and structural engineer Emilio Morales. They said QT steel bars were not safe to use, especially in high-rise buildings.

QT rebars are manufactured by rapid cooling of plain carbon steel by a fine water spray, resulting in a “steel bar with a higher composite yield and tensile strength than the parent material.”

Mr Lopez, however, said several meetings, hearings and consultations were conducted to discuss issues on QT and thermo-mechanicallly treated rebars. He said these meetings were attended by the academe, consumer organizations, research and testing institutions, industry and professional associations, and a technical expert from Centre de Recherche Metallurgique, which is the originator of the TempCore brand.

Source : Manila Times

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