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voda 25 september 2019 16:23

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NLMK ESG Score Improves

NLMK Group announced that following the annual RobecoSam Corporate Sustainability Assessment, NLMK’s overall ESG score improved from 22 to 33. As a result, NLMK’s individual scores of the economic and social dimensions exceeded the industry average.

RobecoSam conducts annual Corporate Sustainability Assessment (the SAM CSA) the results of which serve as the basis for measuring the related performance for the Dow Jones Sustainability Indices.

Source : Strategic Research Institute

voda 25 september 2019 16:23

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Cambridge Pipe Bridge Wins Award for Napier structural steel

NZ Herald reported that a wastewater pipe bridge has become the latest award-winner for Napier structural steel contractor Eastbridge. The company won the NZD 1.5 million to NZD 3 million project category at the Steel Construction New Zealand Excellence in Steel Awards in Wellington for its work on the Cambridge Pipe Bridge spanning 75 metres over the Waikato River. The bridge uses a network arch design, an efficient and lightweight bridging form the judges said "looks slender and visually appealing". Constructed off site, the new 75-tonne steel bridge took approximately 10 weeks to move into position, and and a skyline of five cranes, including a 400-tonne crawler crane, to assemble the steel network arch across the river.

Judges made special mention of the seamless completion of the project, upgrading services with previous infrastructure no longer able to meet the needs of a growing Cambridge community without disruption to the existing services.

The judges also noted a design aimed at minimising impact from such events as earthquakes.

Source : NZ Herald

voda 25 september 2019 16:25

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Standards Organization of Nigeria & Steel Makers Meet Over Standards

The Standards Organization of Nigeria has met with local steel manufacturers to discuss standards in preparation for the African Continental Free Trade Agreement. The Director General of SON, Osita Aboloma, at an emergency meeting with steel producers, said it was basically to prepare operators of the organized steel sector on the need to adhere to quality. According to him, the organization is currently spearheading the harmonization of standards within Africa and the West African sub-region

He stated that Nigerian steel producers needed to take advantage of the biggest market in Africa and the world. He said, “If you adhere to standards in Nigeria, your goods will be accepted anywhere in the world because of the AfCFTA Nigeria has signed.”

Source : PUNCH

voda 25 september 2019 16:25

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Vizag Steel Employees Wins Viswakarma Rashtriya Purskar

Vizag Steel employees brought national level recognition by receiving prestigious Viswakarma Rashtriya Purskar for their innovative work. The employees, Mr S Eswara Rao, Mr D Trinadha Rao, Mr B Dharma Rao, Mr A Satti Babu, Mr B Appala Raju led by Mr D Devadanam of Steel Structural Shop of Engineering Shops & foundry have undertaken a critical job of repairing/renovating a Torpedo Ladle in a shortest time of 56 days, thereby saving huge amount to the Company.

Mr P K Rath, CMD, RINL-VSP while congratulating them for their notable performance, mentioned that the awards truly reflect their commitment in undertaking a critical job innovatively.

The Tarpedo Ladle Cars are designed for transporting 300 T of Hot Metal of 1500 0 C from Blast Furnace to LD Converters of SMS. The overall length of the vessel is 19.60 Meters. During usage of Torpedo ladle, vessel got deformed and damaged. BF dept tried to put the TL in operation by offloading the job to outside agencies, it was not materialized due to the high cost of repair i.e., approximately Rs 1.2 crores.

A dedicated and committed team of Steel Structural Shop of RINL made it possible by renovating in a shortest time of 56 days using in-house resources and inherent skills. The awards were bestowed on them for their extra-ordinary achievement by Mr Santosh Gangwar, Honorable Union Minister for Labor & Employment at New Delhi.

Source : Strategic Research Institute

voda 25 september 2019 16:27

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Metalloinvest Announces Early Repayment of Eurobonds-2020

Leading global iron ore and HBI producer and supplier, and one of the regional producers of high-quality steel Metalloinvest announced that it has elected to make early repayment of its Eurobonds-2020. In order to optimise its loan portfolio, the Company has decided to redeem its outstanding Eurobonds of a principal amount of USD 270.6 mn. The bonds maturity date was scheduled for April 2020.

Mr Alexey Voronov, Finance Director of Management Company Metalloinvest, commented that “In line with the Company’s Debt Management Strategy, we decided to exercise a make-whole call pursuant to Eurobond-2020 and repay the outstanding Eurobonds prior to the scheduled maturity date in April 2020. Today, the noteholders were informed of the early repayment. The Eurobonds’ repayment will be financed by the new PXF-2019 loan signed with international and Russian banks last week. Following the “any and all” Eurobonds-2020 tender offer completed in April 2017, the outstanding Eurobonds’ nominal value was USD 332.7 million, while the total issue size had been USD 1 bn. Additionally, in 2019, the Company completed a partial repayment of the Eurobonds-2020 in the principal amount of USD 62.1 mn. As a result, the current outstanding principal amount of the Eurobonds is USD 270.6 million.”

Source : Strategic Research institute

voda 25 september 2019 16:27

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Moody's Assign Erdemir B1 Rating

Moody's Investors Service has confirmed the B1 corporate family rating and the B1-PD probability of default rating of Turkey-based steel manufacturer Eregli Demir ve Celik Fabrikalari TAS (Erdemir). At the same time, Moody's has downgraded the national scale CFR to Aa2.tr from Aa1.tr. The outlook is negative.

The confirmation of Erdemir's B1 CFR reflects Moody's view that the company's liquidity and business profile are sufficiently robust to maintain the ratings at their current level. Erdemir's B1 ratings are in line with the B1 foreign currency bond ceiling of Turkey because of its material exposure to Turkey's political, legal, fiscal and regulatory environment. Furthermore, Erdemir currently faces some headwinds including weak global steel prices and high iron ore input prices resulting in a more difficult operating environment.

Erdemir's B1 rating takes into account the company's exposure to the volatile prices of steel and feedstock; the cyclicality of the company's end markets, with a moderate reliance on the construction and distribution chain; the significant amount of short term debt; its large cash balance of $1.3 billion as of 30 June 2019 which is held with domestic financial institutions with weakening credit profiles; and the high expected capital spending and large dividend payouts, which we expect will result in negative free cash flow for the next few years.

More positively, the B1 rating factors in Erdemir's leading position in Turkey's flat steel market; a degree of flexibility in redirecting sales to export markets given the decline in the domestic steel demand; high profitability with Moody's-adjusted EBITDA margin of 32.5%; strong credit metrics, reflected by a low leverage of 0.7x total debt/EBITDA and high EBIT interest coverage of 25.6x as of 30 June 2019 (all metrics are Moody's-adjusted); and manageable foreign currency risk, because most of the company's debt, cash and revenue is denominated in US dollars.

Source : Strategic Research Institute

voda 26 september 2019 12:58

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Toename mondiale staalproductie

(ABM FN-Dow Jones) De wereldwijde staalproductie is in augustus toegenomen ten opzichte van de zelfde periode vorig jaar. Dit bleek donderdag uit cijfers van de brancheorganisatie World Steel Association.

In totaal maakten de 64 staalproducerende landen in de afgelopen maand 156,0 miljoen ton staal, een stijging van 3,4 procent op jaarbasis. In juni was deze groei nog 1,4 procent.

Met name de productie in China liet sterke groei zien. De grootste producent ter wereld produceerde 87,3 miljoen ton staal, wat 9,3 procent meer was op jaarbasis.

In de VS groeide de staalproductie met 0,3 procent. In Japan en Zuid-Korea daalde de staalproductie respectievelijk met 7,8 en 2,6 procent. De sterkste dalingen waren er in Brazilië en Turkije, met 13,4 en 12,4 procent.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved.

voda 26 september 2019 16:11

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Auto Slowdown Hits Forging Industry in India - AIFI

Economic Times reported that Indian forging industry is the latest to join the league of sectors where companies are winding up business. According to Association of Indian Forging Industry, 20% of the 400 forging units will permanently close operations by the end of 2020, if the current situation prevails, meaning that on an average five units will close every month from this month onward. Mr Muralishankar, President AIFI, told ETAuto “We tried hard to avoid permanent closure of forging units thus far by reducing the number of shifts, production and manpower. But with no signs of immediate improvement of sales in the auto sector, this situation seems inevitable. Even the recent corporate tax cut is unlikely to have any positive impact. So going forward, I wouldn't be surprised if we see about 20% forging units shutting down on a permanent basis over the next 15 months.”

He said that amongst the lot, the units which primarily cater to commercial vehicle space will be the first to feel the heat. He said “In terms of tonnage commercial vehicle sector is the largest consumer of forging units. While across the board we are seeing a minimum of 25% production decline, those who are catering to heavy commercial vehicle sector are even affected up to 60%.”

He further added that even though the industry made several rounds of corrections in production numbers but sales drop continued.

Since November 2018, the sector has witnessed an average drop in production of about 25 per cent-30 per cent thus far.

Presently, the forging industry employs about 350,000 people, of which around 60 per cent are the contractual workers and the remaining are the permanent ones.

Source : Economic Times

voda 26 september 2019 16:11

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Pennar Industries to Double Cold Drawn Welded Tubes Capacity

ANI reported that Pennar Industries said that it is doubling its cold drawn welded tubes manufacturing capacity. Pennar Industries will set up a greenfield plant here to produce CDW tubes of up to 150 mm diameter and the thickness of 10 mm. Currently, it has an installed capacity to manufacture 1,500 tonnes of CDW tubes per month. The company will incur a CAPEX of INR 65 crore to take its CDW capacity to 3,000 tonnes per month. The new facility is expected to be operational in June 2020.

Mr KM Sunil VP for Corporate Strategy said "The new facility will cater to hydraulic cylinder tube requirement of consistently growing construction and earth moving equipment sector, including propeller shafts for high payload heavy vehicles. The precision electric resistance welded tubes from the same plant will be supplied to structurals for airport, stadia, idlers for conveyors, axles for light and heavy commercial vehicles.”

Source : ANI

voda 26 september 2019 16:12

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Shanghai Futures Exchange Launches Stainless Steel Futures

China on Wednesday started the trading of yuan-denominated stainless steel futures, the first of its kind worldwide targeting the material widely used in transportation, environmental protection and medical industries. The listed futures at the Shanghai Futures Exchange are eight contracts to be delivered from February to September of 2020. Their benchmark prices were set at CNY 15,585 (USD 2,204) a tonne. On the first day of trading, the futures settled a trading volume of 195,240 lots with a turnover of about CNY 15.2 billion (USD 2.15 billion). The most active ss2002 contract for February 2020 delivery edged down CNY 10 to close at CNY 15,575 per tonne in daytime trading.

r Jiang Yan, chairman of the Shanghai Futures Exchange, said “The launch of the stainless steel futures helps provide an open, continuous and transparent price signal and an effective risk management tool for companies in the industrial chain. It also will help enhance the price-setting power of the country, the world's largest stainless steel producer and consumer, in the global stainless steel market.”

China witnessed a rapid growing stainless steel industry, with its production reaching 26.7 million tonnes in 2018, accounting for over half of the global output. The country became a net stainless steel exporter in 2010, reversing from the world's largest importer.

Source : Strategic Research Institute

voda 26 september 2019 16:13

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Former Bhushan Steel Ltd Chairman Mr BB Singhal seeks Anticipatory Bail

PTI reported that Bhushan Steel Limited's former chairman Mr Brij Bhushan Singal has moved the Delhi High Court seeking anticipatory bail in a fraud case in which he and his son Mr Neeraj Singal are accused of siphoning off company funds. The plea seeking anticipatory bail was mentioned before a bench of Chief Justice D N Patel and Justice C Hari Shankar which allowed it to be listed for hearing on Thursday before an appropriate court.

Brij Bhushan Singal, 82, in his petition, has moved the high court after a trial court summoned him and other 286 accused in the fraud case to appear before it. Brij Bhushan Singal, who has been summoned on October 14, said he apprehends he will be arrested when he appears before the trial court and has sought anticipatory bail claiming that he suffers from various ailments like coronary artery disease, high blood pressure, asthama and parkinsonism with dementia.

Brij Bhushan Singal claimed that he cooperated with the investigation, appeared appeared thrice before the SFIO when he was summoned.

Source : PTI

voda 26 september 2019 16:25

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Trinecke Zelezarny Orders Danieli’s Liquid Pool Control Model for Long Products Casting

Trinecke Zelezarny has ordered the Danieli Automation 3Q LPC model to estimate casting product temperatures for two continuous casting machines at its operation in the Czech Republic. Danieli Automation has provided the 3Q LPC off-line, liquid pool control model for two CCMs, which is a real-time mathematical model that estimates the product temperatures. The Q3 LPC can simulate casting process steel temperatures by setting several process variables, including steel grade and product dimensions, among other things. The main output information will be temperature distribution along strand and solid/liquid fraction distribution along the strand. Start-up and commissioning for 3Q LPC are foreseen in coming months.

The long-products steelmaker produces more than 2.5 million tonnes per year for Eastern European markets, including wirerod, shaped steel, special steel rod, drawn bars, rails, wide steel, seamless tubes and semi-finished products. Trinecke Zelezarny supplies over a third of all steel produced in the Czech Republic.

Source : Strategic Research Institute

voda 26 september 2019 16:29

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US Steel Imports 8 Months Down by 14% YoY - AISI

Based on preliminary Census Bureau data, the American Iron and Steel Institute reported today the US imported a total of 2,000,000 net tons of steel in August 2019, including 1,783,000 net tons of finished steel (down 34.0% and 3.4%, respectively, vs. July final data). Through the first eight months of 2019, total and finished steel imports are 20,668,000 and 15,321,000 net tons, down 13.6% and 15.9%, respectively, vs. the same period in 2018. Annualized total and finished steel imports in 2019 would be 31.0 and 23.0 million NT, down 8.1% and 10.6%, respectively, vs. 2018. Finished steel import market share was an estimated 19% in August and is estimated at 20% over the first eight months of 2019.

A key finished steel product with a significant import increase in August compared to July was hot rolled sheets (up 10%).

In August the largest volumes of finished steel imports from offshore were from South Korea (263,000 NT, up 46% from July final), Japan (134,000 NT, up 54%), Germany (75,000 NT, down 1%), Taiwan (61,000 NT, down 28%) and Spain (56,000 NT, up 47%). For the first eight months of 2019, the largest offshore suppliers were South Korea (1,892,000 NT, down 10% vs. the same period in 2018), Japan (944,000 NT, down 3%), Germany (767,000 NT, down 12%), Taiwan (668,000 NT, down 10%) and Vietnam (543,000 NT, down 22%). Below are charts on estimated steel import market share in recent months and on finished steel imports from offshore by country.

Voor cijfers, zie pdf.

Bijlage:

voda 26 september 2019 16:31

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UAW Members Ratify Labor Agreement for AK Steel’s Coshocton Works

AK Steel said that members of the United Auto Workers, Local 3462, have ratified a new 46 month labor agreement covering about 300 hourly production and maintenance employees at the company’s Coshocton OH Works. AK Steel said that UAW officials notified the company that the new contract was ratified in voting held on September 20, 2019 in Coshocton. The agreement will be in effect until July 31, 2023.

Mr Roger K Newport, Chief Executive Officer of AK Steel, said “We appreciate the work of the Union leadership with our management team to achieve a contract at Coshocton Works. The new agreement continues to provide a competitive and flexible labor contract for AK Steel and our Coshocton employees.”

AK Steel’s Coshocton Works manages a variety of stainless steel finishing operations.

Source : Strategic Research Institute

voda 26 september 2019 16:32

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Al Ezz Dekheila Steel Shareholders Approves Capital Hike

Al Ezz Dekheila Steel Alexandria announced that its shareholders approved increasing the company’s authorised capital to EGP 4 billion from EGP 1.5 billion during an extraordinary general meeting. According to a statement to the Egyptian Exchange, in addition, shareholders also approved raising the company’s issued capital by EGP 1.217 billion to EGP 2.553 billion from EGP 1.336 billion. The capital increase will be distributed over 12.175 million shares at the share’s fair value estimated at EGP 1,176 at a nominal value of EGP 100 a share, in addition to EGP 1,076.85 per share as a bonus issue.

Afterwards, the steel manufacturing firm's shareholders approved increasing the company’s issued capital by EGP 82.479 million to EGP 2.636 billion from EGP 2.553 billion.

The additional capital raise will be distributed over 824,798 shares at the share’s fair value estimated at EGP 1,176 at a nominal value of EGP 100 a share, besides EGP 1,076.85 a share as a bonus issue.

Source : Mubasher

voda 26 september 2019 16:33

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Alfried Krupp von Bohlen & Halbach Foundation Supports Thyssenkrupp Chairwoman Ms Merz

Reuters reported that the Alfried Krupp von Bohlen und Halbach foundation, Thyssenkrupp’s top shareholder with two seats on its supervisory board, said that it fully supports chairwoman Ms Martina Merz who is set to become the conglomerate’s interim chief executive. It said “We have taken note of the ad-hoc release. Further decisions are a matter for the Supervisory Board. Martina Merz has the full confidence of the Foundation.”

Mr Dirk Sievers head of the company’s works council, who also sits on Thyssenkrupp’s supervisory board, said that Thyssenkrupp must implement its strategy faster and more consistently and that labor representatives would work together constructively with Chairwoman Ms Martina Merz

Thyssenkrupp late on Tuesday said it would seek talks with current CEO Guido Kerkhoff to terminate his contract.

Source : Reuters

voda 26 september 2019 16:34

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World Bank Group Partners with Hyundai Steel to Support Achievement of SDGs

The World Bank Group welcomed Hyundai Steel Co, Ltd as a new partner in the World Bank Group Partnership Fund for the Sustainable Development Goals. Hyundai Steel’s USD 85,000 contribution will support the Fund’s core activities to strengthen countries’ capacity to achieve inclusive and sustainable growth paths toward the SDGs. Hyundai Steel Company is the first private sector entity to partner with the SDG Fund, joining the governments of Sweden and the Republic of Korea. Hyundai Steel Company’s contribution exemplifies the Fund’s commitment and vision for public-private partnerships in implementing the 2030 Agenda.

Mr Mahmoud Mohieldin, WBG Senior Vice President for the 2030 Agenda, United Nations Relations and Partnerships said that “We are delighted to welcome Hyundai Steel as the first private sector partner of the SDG Fund. There is a clear need to catalyze and crowd in private sector investment to support SDG action. Hyundai Steel’s partnership with the World Bank Group underscores our shared objectives to support sustainable and inclusive growth in client countries.”

Mr Ko Sun Jung, Corporate Social Responsibility Team, Team Manager, Hyundai Steel said that “To date Hyundai Steel's global social contribution model has largely been around the staff's voluntary service. But by aligning the model with global standards, Hyundai Steel seeks to play a leading role as a global steel company.”

Source : Strategic Research Institute

voda 26 september 2019 16:34

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Liberty’s Peoria wire Wins Prestigious Don B Daily Achievement in Safety Award

Liberty Steel and Wire Peoria was named as the 2019 winner of the prestigious Don B Daily Achievement in Safety Award, from the Steel Manufacturers Association in recognition of its ‘impressive commitment’ to improving safety performance at the company’s 1,100-worker Illinois plant. The honour for the flagship wire rod mill from America’s largest steel industry trade association was announced at a celebratory lunch for steelmakers after the Fall meeting of the SMA’s safety and HR committee, held in Tampa, Florida.

Liberty, which acquired the Peoria mill in December 2018, was praised for the intensive safety training given to all employees at the site and for ‘implementing strategies that yielded immediate and tangible results,’ in reducing accident rates.

SMA president Philip K Bell said that “The decision to conduct Ricky Rollins Safety Training for all employees during a compressed period of time showed a high level of commitment. It is rewarding to see how Liberty acknowledged, identified and met its safety challenges head on. We are pleased and proud to bestow this award on the company.”

Vikrant Sharma, president of Liberty Steel USA said that “Employee safety is our over-riding priority and we have put a strong focus on this since acquiring the Peoria mill, so it is very satisfying to have our efforts recognised in this way by our industry peers. Warm congratulations are due to plant general manager Rohit Gulve and his team for this outstanding achievement.”

Source : Strategic Research Institute

voda 26 september 2019 16:36

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Slovenia Sij Marked 150 Years

Steel maker Sij marked 150 years since the launch of industrial ironworks in Slovenian lands on September 24. Ironworks has a very long tradition in Slovenia, but the groundwork for industrial production was laid only in September 1969, when the Kranjska Industrijska Druzba was established, merging several small-scale operations in and around Jesenice.

Source : Strategic Research Institute

voda 26 september 2019 16:36

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Indian Steel Demand to Improve in H2 - Crisil

Ratings agency Crisil in its latest research report said that domestic steel demand and global market sentiment is likely to improve in the second half, but a weak first half is expected to lead to a 5-6% contraction in realisations for steel makers this fiscal. Falling spreads on earnings before interest taxes depreciation and amortization will weigh on steel sector capex adding that the industry is yet to see a recovery in prices despite a run-up in raw material costs. It said that "Global steel prices dropped 13% in the first eight months of 2019 due to weak demand, unseasonal jump in global inventory levels of upto nearly 35% through August and trade tensions. This was despite a whopping 56% run-up in global iron ore prices during the same period. The report added that "Steel prices in India mirrored the trend, falling 10% from INR 42,000 per tonne in January to INR 38,000 per tonne in August 2019,"

Crisil said “Not surprisingly, Indian steel manufacturers’ earnings before interest, tax, depreciation and amortisation spreads contracted 420 basis points (bps) on year in the first quarter of fiscal 2020. The contraction was more for large non-integrated players, at 470 bps. To add to it, subdued domestic demand and weak export markets cloud the industry’s prospects in the rest of this fiscal as well," the Crisil report said. After a robust 7.5 to 8% growth in the previous two fiscals, the domestic steel industry is expected to witness a mid-cycle slowdown at 4-5% this fiscal, given muted construction investments and weak automotive market.”

Mr Prasad Koparkar, senior director, CRISIL Research said that “Steel prices have not been able to recover despite a cost push. We therefore believe weak realisations will shear 350-370 bps off the sector’s Ebitda margins for the first half and 200-250 bps for the fiscal as a whole, reversing a three-year climb. Large non-integrated players will see their margins shrink more, by 300-350 bps this fiscal, given weak flat steel market and a 3 to 5% rise in iron ore prices amidst weak realizations."

Source : Strategic Research Institute

Vertraagd	26 feb 2025 11:52
Koers	27,750
Verschil	+1,210 (+4,56%)
Hoog	27,810
Laag	26,810
Volume	1.413.162
Volume gemiddeld	2.612.086
Volume gisteren	2.474.659

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