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voda 2 december 2019 16:43

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SAIL Exploring Production of Head Hardened Rails

PTI reported that Steel Authority of India Limited is planning to commence manufacturing of special quality rails for high speed train corridors and metro projects in the next two years. SAIL Bhilai Steel Plant CEO Mr Anirban Dasgupta told PT I“We expect to commence head hardened rail project in two years. However, it is now in the planning stage. The capacity and investments have not been firmed up. Feasibility studies will be carried out at BSP and Burnpur plant as only one facility will not be enough for SAIL, given the projected demand. The project would help for substituting imports.”

He said the steel maker is in the process of hiring a consultant to carry out the feasibility studies.

With more strength than the normal rails, the speciality product is used in metro rail projects and high speed train corridors.

Source : PTI

voda 2 december 2019 16:44

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US Steel Garry Blast Furnaces to Restart After Flooding

NWI Times reported that US Steel is starting to restore blast furnaces to operation at the sprawling Gary Works steel mill after severe flooding the day before Thanksgiving. US Steel spokeswoman Ms Amanda Malkowski said "The water disruption has been resolved and the team is in the process of restarting auxiliary assets within Gary. We expect the first blast furnace to be brought back on line over the weekend. Gary Works is expected to be back to its pre-flood blast furnace footprint by mid-week. Customers should not be adversely impacted by these steps."

Steelworkers and skilled union trades people worked around the clock over the holiday to vacuum water out of the steel mill. The flooding had been so significant employees' cars were partly submerged underwater at the mill.

Source : NWI Times

voda 2 december 2019 16:47

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Court Extends ED Custody of Former BPSL Chairman Mr Sanjay Singal by 7 Days

Mint reported that a special court on Friday extended the Enforcement Directorate custody of Mr Sanjay Singal, former chairman and managing director of Bhushan Power and Steel Limited, by seven days in connection with its probe in a multi-crore money laundering case linked to an alleged bank loan fraud. Court order said "Extension of period of police custody remand is necessary for purpose of proper investigation and unearthing the conspiracy in the present matter. Accordingly considering the gravity of offence as well as totality of the facts and circumstances, the prayer for extension of seven days police custody remand of accused Sanjay Singal is allowed.”

Special Public Prosecutor Nitesh Rana appearing for ED had submitted that the accused needs to be confronted with further documents and to trace trail of money for probable diversion by unearthing routing of the proceeds of crime.

Mr Singal was arrested under the Prevention of Money Laundering Act on 22 November.

Source : Mint

voda 2 december 2019 16:47

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EU to Probe Chinese HDG Imports for AD circumvention

The European Commission has started an investigation concerning a possible circumvention of anti-dumping duties on imports of coated steel products from China. EC said “The Commission has at its disposal sufficient evidence that the existing anti-dumping measures on imports of the product concerned originating in the People’s Republic of China are being circumvented by slight modifications of the product concerned. Chinese suppliers are changing characteristics of their products by applying a thin oil coating, by slightly increasing the content of carbon, aluminium, or other elements, or by changing the coating from simple zinc or aluminium to zinc-magnesium-aluminium coating.”

The EC has also started the procedure of registration of the subject products to be able to impose measures retroactively should the fact of circumvention is proved.

The investigation must be concluded within the nine months starting from November 26. Consequently, registration will expire nine months after November 26

The Chinese quota for the auto grade HDG products, category 4b in the quota system, is exhausted very quickly, partially because Chinese producers are sending HDG products, which are actually not destined for the automotive applications, under category 4b to avoid the AD.

Source : Strategic Research Institute

voda 2 december 2019 20:34

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US Steel Imports in January-October 2019 down by 16% YoY

Based on preliminary Census Bureau data, the American Iron and Steel Institute reported that the US imported a total of 2,177,000 net tons of steel in October 2019, including l,479,000 net tons of finished steel (up 14.5% and down3.5%, respectively, vs. September final data). Through the first ten months of 2019, total and finished steel imports are 24,770,000 and 18,343,000 net tons, down 15.9% and 17.0%, respectively, vs. the same period in 2018. Annualized total and finished steel imports in 2019 would be 29.7and 22.0million NT, down 11.9% and 14.3%, respectively, vs. 2018. Finished steel import market share was an estimated 17% in October and is estimated at 20% over the first ten months of 2019.

Key finished steel products with a significant import increase in October compared to September were wire rods (up 24%), plates in coils (up 13%), sheets and strip hot dipped galvanized (up 13%), mechanical tubing (up 13%) and heavy structural shapes (up 12%).

In October the largest volumes of finished steel imports from offshore were from South Korea (170,000 NT, up 8% from September final), Germany (79,000 NT, up 22%), Japan (74,000 NT, up 4%), Brazil (59,000 NT, up 54%) and Taiwan (39,000 NT, down 37%). For the first ten months of 2019, the largest offshore suppliers were South Korea (2,219,000 NT, down 11% vs. the same period in 2018), Japan (1,090,000 NT, down 7%), Germany (910,000 NT, down 17%), Taiwan (768,000 NT, down 16%) and Vietnam (622,000 NT, down 30%). 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.

Source : Strategic Research Institute

Bijlage:

voda 3 december 2019 09:21

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Mijnbouwer Vale belooft record ijzerproductie

Gepubliceerd op 3 dec 2019 om 09:11 | Views: 52

ArcelorMittal 09:01
15,27 -0,01 (-0,05%)

RIO DE JANEIRO (AFN/BLOOMBERG) - De Braziliaanse mijnbouwer Vale belooft om tegen 2022 een record aan ijzer te produceren. De onderneming had dit jaar te maken met een terugval in productie nadat zijn dam in de staat Minas Gerais bezweek.

Vale denkt om in 2022 zijn ijzerproductie op te kunnen voeren tot 390 miljoen tot 400 miljoen metrische ton. Die hoeveelheid zou de mijnbouwer oorspronkelijk nog dit jaar halen, maar zo'n kwart van de productie kon niet gerealiseerd worden door de ineenstorting van de dam. In 2020 verwacht Vale om een ijzerproductie tussen 340 miljoen en 355 miljoen metrische ton te bereiken.

Meer productie van een van de grootste mijnbouwers ter wereld zal het overaanbod op de markt van ijzer verder opvoeren. Sinds juni daalden de prijzen van ijzer dat nodig is voor de staalproductie met 20 procent.

voda 3 december 2019 16:16

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Mr Trump to Impose 25% on Steel Imports from Argentina and Brazil

Accusing Argentina and Brazil of hurting American farmers through currency manipulation, US president Mr Donald Trump said on Monday that he will impose tariffs on their steel and aluminium imports to retaliate. Mr Trump tweeted that "Brazil and Argentina have been presiding over a massive devaluation of their currencies. which is not good for our farmers. Therefore, effective immediately, I will restore the Tariffs on all Steel & aluminium that is shipped into the US from those countries."

When Mr Trump increased tariffs to 25 percent on steel and 10 percent on aluminium in 2018, both Latin American countries were granted exemptions.

Calling the move retaliation, Brazil's steel industry body said that it is perplexed by this decision and that it goes against the spirit of partnership between the two countries. Instituto Aco Brasil said the decision ultimately hurts US steelmakers who are dependent on Brazilian steel components for their operations.

Brazil currently occupies a third place among countries exporting steel to the US with 12 percent, only Canada (20 percent) and Mexico (13 percent) export more. At the same time, only 0.5 percent of the steel imported to the US comes from Argentina.

Source : Strategic Research Institute

voda 3 december 2019 16:18

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Aggressive bidding derails Odisha's iron ore auctions

ET reported that the Odisha government has decided to cancel and postpone auctions of iron ore mines by about a month. As per report, the decision was taken after Adani group and ArcelorMittal complained against JSW’s decision to bid for the largest block through half a dozen subsidiaries. The report quoted an official as saying that “It’s unfortunate that the company decided to abuse a loophole in the model bid document. We’ve decided to improve the conditions, and taking a cue from the model bid documents for coal auctions we are barring subsidiaries, affiliates and associates from participating in auctions of the same block.”

Odisha is inviting bids for 50-year mining rights to twenty mines in two phases. Among the first lot was the massive 767.284 ha Nuagaon deposit with reserves of 792.93 million tonne, larger than all other iron ore deposits on offer. Of the fifteen technical bids received for Nuagaon, six were from companies or subsidiaries of the Sajjan Jindal led JSW Group JSW Steel, JSW Raigarh, JSW Bengal Steel, JSW Jharkhand Steel, JSW Utkal Steel and Amba River Coke. Jindal SAW, Jindal Steel and Power and its subsidiary, Jindal Power, are also in the run.

These are among the more than 300 mines lapsing on 31 March 2020 as India transitions to a strict regime of auctions for mining licenses.

Source : ET

voda 3 december 2019 16:18

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Thyssenkrupp Works Council Demands Investment in Steel Unit

Reuters reported that Thyssenkrupp Work Council Head Mr Tekin Nasikkol said that Thyssenkrupp needs to pour EUR 1.5 billion into its core steel business after years of underinvestment has left at a competitive disadvantage, the head of its works council. He said “It is about the existence of steel at ThyssenKrupp. The core business has been badly affected by overambitious cost-saving programmes after failed investments in the Americas and three years of fruitless talks about a steel joint venture with Tata Steel.”

The labour chief’s comments come days after Union Investment, a top-10 investor in the ailing German conglomerate, raised pressure on management to present a turnaround plan for the steel unit or drop the business.

Source : Reuters

voda 3 december 2019 16:18

0

Liwet Holding Pledges Money to Save Schmolz + Bickenbach

Bloomberg reported investment holding company Liwet Holding AG, linked to Russian billionaire Mr Viktor Vekselberg, has pledged to invest as much money as necessary in Schmolz + Bickenbach AG to avert a restructuring of the ailing Swiss steelmaker’s USD 800 million debt pile. Liwet Holding AG, which holds a 26.9% stake in Schmolz, said that the pledge is conditional on there being no change in control of the company. Liwet said”It’s concerned Haefner’s offer would allow him to use the money to buy out the company’s debt rather than for Schmolz’s operational needs, if Haefner succeeded in raising his stake, a so-called change of control clause in the bonds would be triggered, allowing bondholders to redeem their principal from the company. This is not helpful for the company. Rather, it allows you, Mr Haefner, to take control of the company at a lower price by violating other stakeholders’ interests.”

The open letter is the latest salvo in a dispute between Liwet and Martin Haefner, a Swiss businessman and the company’s second-largest shareholder, over the future direction of Schmolz. Mr Haefner recently proposed to double his stake to 37.5% through a USD 326 million cash injection, but the Swiss Takeover Board rejected that proposal as insufficient and said it must offer to buy the entire company.

Source : Bloomberg

voda 3 december 2019 16:20

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Mr Sanjeev Gupta Still Interested to buy British Steel – Reports

According to reports in British media, Mr Sanjeev Gupta is ready to buy British Steel if an offer by a Chinese firm Jingye Group fails to sail through. According to a source, Mr Gupta is still interested in acquiring the company but he is concerned that the rescue plan may come in too late if Jingye Group delays on its offer. Sources close to Mr Gupta said that the offer comes with a plan to replace British Steel’s one of the two blast furnaces at the Scunthorpe site with an electric arc furnace.

At the start of last month, Jingye Group announced intentions to acquire the British steel company, but a regulator will need to approve the deal first. A spokesperson from Jingye confirmed that there are a lot of procedures that are still pending.

Away from approvals, a complication is likely to occur due to British Steel’s France branch in Hayange. The French Economy and Finance Minister Bruno Le Maire said that they were going to make sure that the sovereign interests of France and the significance of Hayange as a supplier to the French rail operator SNCF were protected.

Source : Invezz

voda 3 december 2019 16:20

0

US Raw Steel Capacity Utilization in Week 48 Was 79.3

AISI announced that in the week ending on November 30, 2019, domestic raw steel production was 1,835,000 net tons while the capability utilization rate was 79.3 percent. Production was 1,903,000 net tons in the week ending November 30, 2018 while the capability utilization then was 81.2 percent. The current week production represents a 3.6 percent decrease from the same period in the previous year. Production for the week ending November 30, 2019 is down 1.4 percent from the previous week ending November 23, 2019 when production was 1,861,000 net tons and the rate of capability utilization was 80.4 percent.

Adjusted year-to-date production through November 30, 2019 was 88,919,000 net tons, at a capability utilization rate of 80.2 percent. That is up 2.0 percent from the 87,193,000 net tons during the same period last year, when the capability utilization rate was 78.1 percent.

Broken down by districts, here's production for the week ending November 30, 2019 in thousands of net tons: North East: 215; Great Lakes: 635; Midwest: 203; Southern: 699 and Western: 83 for a total of 1835.

Source : Strategic Research Institute

voda 3 december 2019 16:21

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GMS Market Commentary on Shipbreaking in Week 48

Going into the final furlong of the year, virtually all markets seem to be positioned positively and activity has started to ramp up, with Ship Owners keen to exploit some of these better offerings on show, before costs on as is vessels start to significantly increase with the new Sulphur fuel regulations that will come into effect from January l51, 2020. There is therefore a frantic scramble by Cash Buyers, to try and get their recently acquired high-priced 'as is' vessels delivered within December 2019, and many Owners on delivered deals are starting to run tight on time, given that the cancelling date on most deals is tabled approximately four weeks after the date of fixture.

On the local markets front, Bangladesh has been the most hungry and aggressive of the recycling markets of late, but these spurts of activity tend to be followed by a period of complete apathy and dissipating numbers - with Cash Buyers diverting vessels elsewhere in order to stay in the green.

While India has also started to compete in the mid-to-high USD 300s/LDT on any available and well positioned vessels, Pakistan surprisingly isn't too far behind and as it stands, all markets will have to remain on point, in order to secure their share of tonnage in the final month of the year.

Lastly, the Turkish market continues more of the same performance from previous weeks, with the firmer fundamentals that have been unchanged over the last couple of weeks, and the unrelenting shortage of tonnage that has been putting the squeeze on Turkish Recyclers.

Overall, steel plate prices have gained some encouraging ground, especially in India of late, whilst the currencies finally appear to be comparatively stable after a turbulent year. With demand and capacity also seeming relatively healthy, particularly on the smaller-to-mid range sized units it seems set to be a busy close to 2019 in all locations.

Source : Strategic Research Institute

voda 4 december 2019 08:21

1

ArcelorMittal wil immuniteit in toekomstige onderzoeken naar Essar- media

FONDS KOERS VERSCHIL VERSCHIL % BEURS
ArcelorMittal
14,77 0,00 0,00 % Euronext Amsterdam

(ABM FN-Dow Jones) ArcelorMittal heeft de Indiase overheid om immuniteit gevraagd in mogelijke toekomstige onderzoeken gerelateerd aan Essar Steel. Dit schreef The Economic Times woensdagochtend op basis van vier bronnen.

De staalreus is van mening dat toekomstige of huidige onderzoeken naar de Ruia-familie, de voormalige eigenaren van Essar Steel, geen impact mogen hebben op de door ArcelorMittal overgenomen activiteiten van Essar.

"ArcelorMittal heeft gesprekken gevoerd met diverse ministers en ambtenaren en kreeg een positieve terugkoppeling", aldus één van de bronnen tegenover The Economic Times.

"Het is een lange strijd geweest voor ArcelorMittal en op deze manier wil de staalreus toekomstige problemen voorkomen zodra het geld [voor de overname] is betaald", aldus één van de bronnen.

ArcelorMittal kreeg in november dit jaar toestemming van de hoogste rechtsprekende instantie in India voor de afronding van de overname van Essar Steel. Met de overname van het failliete Essar Steel is krap 6 miljard dollar gemoeid.

Daarmee is de laatste horde door ArcelorMittal genomen en kan de transactie nog voor het jaareinde worden afgerond.

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

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

voda 4 december 2019 10:37

0

'Arcelor wil immuniteit in Essar-dossier'

Gepubliceerd op 4 dec 2019 om 10:33 | Views: 0

ArcelorMittal 10:19
15,12 +0,35 (+2,40%)

LUXEMBURG (AFN/BLOOMBERG) - ArcelorMittal heeft de Indiase regering gevraagd om immuniteit tegen eventuele onderzoeken naar het failliete Essar Steel, dat dit jaar definitief wordt ingelijfd door het staalbedrijf. Dat schrijft de Indiase zakenkrant Economic Times op basis van ingewijden.

De vrees voor lijken uit de kast wordt volgens Economic Times ingegeven door een affaire rond Bhushan Power and Steel. Nadat dit bedrijf was overgenomen door JSW Steel, werden voormalige eigenaren verdacht van witwassen. Daarop nam de financiële opsporingsdienst van India onderdelen van Bhushan in beslag.

ArcelorMittal zou ook bescherming willen tegen onderzoeken naar de voormalige eigenaren van Essar, de zakenfamilie Ruia. Met de verzoeken heeft het bedrijf naar verluidt meerdere ministeries benaderd, waaronder die voor Financiën, Binnenlandse Zaken en Defensie. ArcelorMittal wilde niet reageren op het nieuwsbericht.

voda 4 december 2019 12:44

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Beursblik: Braziliaanse importheffingen slechts beperkte impact op ArcelorMittal

FONDS KOERS VERSCHIL VERSCHIL % BEURS
ArcelorMittal
15,176 0,406 2,75 % Euronext Amsterdam

(ABM FN-Dow Jones) Als de Amerikaanse importheffingen op Braziliaans staal worden ingevoerd, dan zal dat vermoedelijk slechts een kleine negatieve impact hebben op ArcelorMittal. Dit stelden analisten van UBS woensdag.

De Amerikaanse president Donald Trump besloot deze week tot nieuwe importheffingen op staal en aluminium voor Brazilië en Argentinië.

UBS verwacht dat de negatieve impact van dergelijke heffingen voor ArcelorMittal beperkt zal zijn.

Er is evenwel een mogelijkheid dat de importheffingen ook zullen leiden tot hogere Amerikaanse staalprijzen. Een Amerikaanse joint venture van ArcelorMittal voert Braziliaans staal in, en zou hierdoor hogere inkoopkosten kunnen ervaren. Wel merkte UBS op dat de vraag naar en de afname van Braziliaans staal vanuit de VS beperkt is.

Bovendien is het volgens UBS de vraag of de nieuwe heffingen daadwerkelijk worden goedgekeurd door het Amerikaanse Hooggerechtshof. "Mogelijk komen de heffingen er niet", aldus de analisten.

UBS handhaafde het koopadvies op ArcelorMittal met een koersdoel van 18,00 euro. Het aandeel steeg woensdagochtend 2,5 procent tot 15,13 euro.

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

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

voda 4 december 2019 15:22

0

Thyssenkrupp maakt werk van staalactiviteiten - media

FONDS KOERS VERSCHIL VERSCHIL % BEURS
ThyssenKrupp AG
11,33 0,20 1,80 % Frankfurter Wertpapierbörse (Xetra)

(ABM FN) Thyssenkrupp wil flink werk maken van zijn staalactiviteiten. Dit blijkt uit een interne brief die persbureau Reuters inzag.

Een fusie met de staalactiviteiten van rivaal Tata Steel werden eerder dit jaar nog door toezichthouders geblokkeerd.

Nu wil het bedrijf de staaldivisie zelf onder handen nemen.

Vermoedelijk verdwijnen er 1.200 banen, zo las Reuters in de interne memo. Steel Europe moet door deze kostenbesparingen en meer omzet uit de auto-industrie naar een EBIT van 600 miljoen euro groeien in de komende jaren.

De onderdelen Heavy Plate en Electrical Steel worden volgens Reuters of verkocht of geherstructureerd.

Door: ABM Financial News.
pers@abmfn.be
Redactie: +32(0)78 486 481

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

voda 4 december 2019 16:20

0

Asian Steel Companies will start the New Decade on Negative Footing - Moody's

Moody's Investors Service says its 2020 outlook for the Asian steel sector is negative, reflecting weakening profitability for rated steelmakers amid softening demand, declining steel prices, and elevated iron ore prices. Moody's Vice President and Senior Credit Officer Mr Kaustubh Chaubal said "The rated Asian steel producers are coming out of a challenging 2019, with profitability, as measured by EBITDA per ton, down around 25% over the year, and we expect the subdued operating environment will lead to another 5% drop in 2020. Fortunately, this follows strong growth in 2017-18, and at the current rate we expect profitability to return to levels seen during 2015-16. With improved capital structures, the steelmakers are better placed this time around to weather weaker profitability.”

Across the region, soft demand from the property and manufacturing sectors will limit Chinese steel demand growth. Over in Korea, demand will soften because of sluggish construction and auto sectors, while the falling needs of the manufacturing sector will be the main driver behind Japan's softening steel demand. Similarly, demand will slow in India because of weak auto and manufacturing demand.

Source : Strategic Research Institute

voda 4 december 2019 16:21

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ArcelorMittal Seek Immunity from Future Probes in Essar Steel

ET, citing four people familiar with the matter, reported that Mr LN Mittal of ArcelorMittal has approached the government seeking immunity from likely future investigations pertaining to Essar Steel and its erstwhile promoters as he wants to avoid a recurrence of any controversy akin to the one involving Bhushan Power and Steel, when the Enforcement Directorate attached the firm’s assets after it is to be acquired by JSW Steel. A source said “ArcelorMittal has held talks with several ministers and civil servants, and has received a positive reply.

Another person said “It has been a long battle for the Mittals, and this is their way of preventing future troubles after they transfer money to the banks. ArcelorMittal is very clear it doesn’t want any ambiguity around any present or future liabilities.”

Source : ET

voda 4 december 2019 16:22

0

Former BPSL chief Mr Sanjay Singhal Seeks Interim Bail on Medical Ground

Former Bhushan Power and Steel Ltd chief Mr Sanjay Singhal on Tuesday moved a Delhi court seeking interim bail in a money laundering case citing medical reasons. Mr Singhal sought bail from the court in order to enable him to consult, get examined and treated by his trusted medical professionals and receive appropriate medical treatment, in relation to the multiple ailments. The plea said "He is being treated and is on medication since several years for multiple ailments including Coronary artery disease, Spine Lumbar, Uncontrolled Diabetes, Severe Hypertension for which he has been taking regular medication, Unstable Angina for which he underwent Angiography just over a month ago, Right Femoral Aneurysm, Severe pain in back, Urological disorder. The applicant is entitled to seek preventive and ameliorative measures for his health. In these circumstances, the applicant is seeking interim bail on urgent medical grounds.”

Special CBI Judge Illa Rawat has issued notice to the Enforcement Directorate over the plea filed by Singhal seeking interim bail of four weeks citing health reasons and has now slated the matter for hearing on Thursday.

The agency had arrested Mr Singal on November 22 under the Prevention of Money Laundering Act, after he was questioned in connection with the case.

Source : IANS

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