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voda 27 december 2019 11:19

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US DoC find AD in Wire Rod Imports from Mexico

According to the result of the preliminary ruling issued by the US Department of Commerce, Mexico sold carbon and certain alloy steel wire rod to the US market at prices lower than fair value during the period of review from October 1st, 2017 to September 30th, 2018. Some Mexican wire rod producers and exporters, including Deacero, Ternium, ArcelorMittal México, Grupo Villacero and Talleres y Aceros, received a preliminary weighted-average dumping margin at 6.7%.

The rate will be greatly lower than Ternium’s current rate of 40.52% while it will be higher than Deacero’s 3.94%, and the rate for all other producers or exporters will be kept at 20.11%.

Source : Strategic Research Institute

voda 27 december 2019 11:20

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South Korean Steel Makers Bolstering Operational Efficiency

Pulse News reported that South Korean steel makers have embarked on reorganization to enhance productivity amidst protracted slump. Country’s top steel maker Posco will set up a team to bolster collaboration across all business operation, ranging from new product development to production and sales/marketing. Also, production process and quality control will be administered by a unified team to enhance product quality while stronger workplace safety and environmental protection efforts will be promoted across the company through a control tower. The team responsible for production strategy will be integrated with technology strategy team and a faster shift to smart factory will be encouraged by running a team to carry out planning and operation. A research and development team exclusively for incorporating artificial intelligence technology will also be set up within the company’s R&D center.

Other Korean steel makers are also reforming their organization to boost operational efficiency. SeAH Steel recently added a new production planning team as well as combined production process R&D team with product development center. It also plans to improve sales by setting up a team for supporting new projects. Dongkuk Steel Mill closed down its steel plate R&D team and instead created a team for developing steel alloy. Hyundai Steel in August launched an R&D team for studying new technology and also reorganized purchasing department. The company is expected to announce additional structural changes together with its annual year-end reshuffle.

Source : Pulse News

voda 27 december 2019 11:21

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US Drops Steel and Aluminum New Tariffs on Brazil

The president of Brazil Mr Jair Bolsonaro said late last week that US President Trump won’t implement a new tariff on Brazilian steel and aluminum imports as threatened earlier in December. He said “I had a phone conversation with President Trump. He was convinced by my arguments and I decided to tell all Brazilians that our steel and aluminum won’t be hit by additional tariffs.”

A US source confirmed to Reuters that the administration won’t be implementing the tariffs talked about by Trump earlier this month.

Mr Trump announced the possibility of tariffs on Brazil and Argentina during a Tweet on December 2, accusing the two countries of devaluing their currencies, a move that hurts US farmers by making their agricultural commodities more expensive on the world market when compared to those from Brazil and Argentina.

Source : Strategic Research Institute

voda 27 december 2019 11:22

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Jindal Stainless Launches Stainless Steel E-Rickshaw

Orissa Diary reported that stainless steel E-rickshaw was commercially launched during 10th Electric Vehicle Expo 2019 held in Pragati Maidan in Delhi during 20-22nd December. Jindal Stainless has developed a stainless steel E-rickshaw prototype few months back in collaboration with E-rickshaw manufacturers

Jindal Stainless Segment Head Electric Vehicles Nimish Goel said “Considering the market potential of E-rickshaw in India, we are extending our full support to E-rickshaw manufacturers in designing and developing stainless steel models that are affordable, high on RoI, and user-friendly. Thukral Electric Bikes and SKS Trade India are our first manufacturing partners who have helped in commercial roll-out of Stainless Steel E-rickshaw. Our teams across India are forging partnership with more E-rickshaw dealers and manufacturers for seamless production of this environment-friendly vehicle. Continued government subsidies will enable faster adoption and will speed up market growth.”

Jindal Stainless is targeting a 25% share of the total E-rickshaw market in India over the next 2 years fetching estimated revenue of Rs.200 crore. The company expects an annual volume demand of 13,000 metric tonnes from this new business development initiative by 2021.

Source : Orissa Diary

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voda 27 december 2019 11:22

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GPH Ispat to Open EAF based steel plant at Sitakunda in Bangladesh

The Daily Star reported that GPH Ispat is all set to start production in its newly built plant in Sitakunda in Chittagong in Bangladesh on January 8. The company has used quantum electric arc furnace technology for the first time in the country as well as in Asia. The advanced technology would help the company manufacture high quality steel products. The company has invested around Tk 2,400 crore for the expansion project and the fund has been arranged from the owners’ equity and loans.

GPH started its operations on May 17, 2006 and got listed with stock exchanges on April 19, 2012.

Source : The Daily Star

voda 27 december 2019 11:23

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18 Environmental Groups Seek Bigger Fine for 2017 Chemical Spill at US Steel Portage plant into Burns Waterway

The Post-Tribune reported that 18 environmental and civic organizations are asking a federal judge to make US Steel pay a stiffer fine than the government has proposed for a 2017 hazardous chemical spill. The letter said “The proposed USD 601,242 civil penalty for the April 10-12, 2017, release of 902 pounds of cancer causing hexavalent chromium from US Steel’s Portage plant into Burns Waterway does not reflect the seriousness, duration or magnitude of egregious NPDES permit violations at this facility. Therefore it is of grave concern that this revised Consent Decree will not deter another spill into Lake Michigan or bring US Steel into compliance with their NPDES permit.”

In addition to the 2017 hexavalent chromium spill, which prompted temporary beach and water intake closures in nearby Lake Michigan, the letter cites six additional, smaller spills this year.

The letter is signed by leaders of Save the Dunes, Alliance for the Great Lakes, Hoosier Environmental Council, the Izaak Walton League’s Indiana and Illinois divisions and Great Lakes Committee, Indiana’s North Coast Charter Association, the Indiana Sportsmen’s Roundtable, the Indiana Wildlife Federation, seven League of Women Voters organizations in Indiana, the Northwest Indiana Paddlers Association, and the Sierra Club’s Hoosier Chapter.

NPDES stands for National Pollution Discharge Elimination System.

Source : Post Tribune

voda 27 december 2019 11:44

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Process to Clear Iron Ore Dumps in Goa to Take Many Years

Goa media reported that as the Goa state government intends to sell the mining dumps after forming a mineral development corporation, the process may take a long period, as the central government’s guidelines clearly state that it requires a prior environmental clearance irrespective of the size of mine lease area and type of mineral including overburden and dump mining. According to Goa Mining People’s Front, an umbrella organisation of people dependant on the state’s mining sector, an environmental clearance certificate is mandatory even to handle dumps that are lying outside the lease area and it will take a minimum of two years to complete the said process.

An office memorandum issued by the Ministry of Environment, Forests and Climate Change on June 18, 2018, and circulated to all the state governments states that as per the provisions of the Environment Impact Assessment Notification, 2006, the mining projects stated in the schedule require prior environmental clearance irrespective of the size of mine lease area and type of mineral including overburden and dump mining.

Source : Goacom

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voda 30 december 2019 15:50

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US Steel Postpones CRNGO Investment in Košice

The Spectator reported that as a consequence one of three blast furnaces in the steelmaker US Steel Košice remains idle and some planned investments are being postponed. US Steel Corporation in its outlook report for the fourth quarter said “Economic indicators in the region suggest difficult market conditions are likely to continue in 2020. Based on this assessment, one of the three blast furnaces remains idle and the company has postponed the dynamo line investment spending in 2020.”

The corporation does not specify until when the investment will be postponed, while it promises to continue to be flexible and execute the investment as market conditions warrant.

In mid January 2019, USSK announced an investment of USD 130 million in a new non-grain oriented electrical steel line, also called a dynamo line, in Košice. Its production capacity is projected at 100,000 tons per year. Its construction was to start. The new line was to enable production of sophisticated silicon grades of NGO electrical steels to support increased demand in vehicles and generators.

Source : The Spectator

voda 30 december 2019 15:51

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SAIL RSP Supplies Maraging Steel Plates for ISRO Projects

Steel Authority of India Ltd’s Rourkela Steel Plant has supplied 30.5 tonne of MDN-250 maraging steel to Indian Space Research Organisation for upcoming Gaganayan project, the first indigenous manned mission to space. RSP ED Mr Gautam Banerjee flagged off the plates in a function organised at the Plate Mill department. The plates rolled from 14 slabs were the first lot of the total order quantity.

Stringent process parameters were followed and representatives from MIDHANI, Hyderabad and Scientists from ISRO were present during the rolling of the 1st phase plates at Plate Mill. The Process chart for the rolling was jointly prepared by Plate Mill and R&C Laboratory of RSP. The slabs were supplied by MIDHANI, Hyderabad. Slabs were inspected and sorted after receiving. Strict heating parameters were also monitored. Extra soaking of a minimum of three hours duration was given inside the furnace for rolling of these slabs. During rolling of these slabs experienced rollers were engaged as these slabs require accurate control during rolling. After rolling, these plates were visually inspected at the cooling bed for their surface finish, thickness, width and length. Then plates were turned over for bottom surface inspection. After the rolled plates were certified by the inspection group of MIDHANI, these were painted before despatching to the destination.

Maraging steel is special quality steel containing nickel, cobalt, molybdenum, titanium and aluminium and is manufactured through vacuum melting process. Rolling of maraging steel requires very stringent process parameters. Generally, any steel with higher strength will have low ductility and vice versa. But the significance of maraging steel is that it has got very high strength to the tune of 5-6 times of mild steel along with good ductility. Maraging steel is being used for the launch vehicle rocket motor casing and for other different defence applications. Maraging steel plates rolled in RSP were also used in the recently launched Chandrayan-II

RSP has been regularly rolling wide plates of maraging steel under a long term contract with Mishra Dhatu Nigam.

Source : Strategic Research Institute

voda 30 december 2019 15:53

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PESB Starts Selection Process for Next Chairman of Steel Authority of India Ltd

Public Enterprises Selection Board on 5th December 2019 started the process to select the next chairman of Steel Authority of India Ltd. While the minimum age of an applicant should 45, he or she must be a graduate with good academic record from a recognised university or institution. In terms of experience, the applicant should have adequate experience at a senior level of management in an organisation of repute. Applicants with experience in finance, marketing and production will have added advantage. The appointment shall be for a period of five years from the date of joining or up to the date of superannuation or until further orders, whichever is earlier. The last date to submit entries is February 13, 2020.

SAIL’s current chairman Mr AK Chaudhary assumed the position in September 2018 and is scheduled to retire in December 2020.

Source : Strategic Research Institute

voda 30 december 2019 15:53

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JSW Steel Open for Taking Partner for BPSL

The Telegraph reported that JSW Steel is looking for a partner to own and operate Bhushan Power & Steel Ltd once India’s judiciary approves the company’s resolution plan submitted under the bankruptcy process. JSW is open to a similar structure that it had forged with private equity partner AION Capital Partners to take over Monnet Ispat Ltd, also through the insolvency process. JSW Steel Joint MD and group CFO Mr Seshagiri Rao expects that there would be interest from potential partners for BPSL. He said “We are open to a similar structure, not necessarily the same.”

While acquiring Monnet, which at Rs 2,875 crore is a much smaller buy than BPSL, JSW took an effective stake of 23.1 per cent, where the majority is held by AION.

Source : The Telegraph

voda 30 december 2019 15:54

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UK Steel Urges Government not to shelve HS2 Rail Project

The UK’s steelmakers have urged the government to complete HS2 to boost the struggling sector. UK Steel Director General Mr Gareth Stace told The Telegraph that the project needs to happen in order to boost the steel industry. He said “The prime minister spoke frequently during the election campaign about unleashing Britain’s potential, investing in much needed infrastructure, as well as a promised new approach to public procurement with a focus on buying British. Giving HS2 the green light will signal to industry that this was more than campaign rhetoric. For too long HS2 and other major infrastructure projects have been hampered by the political stalemate in Westminster, the time for delay and indecision is over. Government must live up to its promises to improve procurement to ensure the benefits of public infrastructure spend are experienced by UK industry.”

The rail project, which would link London, the Midlands and the north, is expected to use 2 million tonnes of steel if it goes ahead. However, the project is in some doubt as estimated costs have spiralled to GBP 88 billion and the government is currently undertaking a review of its viability. A government-commissioned report into the viability of the project recently leaked to the press, suggesting that HS2 should go ahead in its entirety.

Source : City AM

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voda 30 december 2019 15:55

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New Sulfur Dioxide Limit Proposed for Indiana Harbor Coke

The Indiana Lawyer reported that the Indiana Department of Environmental Management is proposing a tougher sulfur dioxide emissions limit for Indiana Harbor Coke Co in East Chicago that supplies ArcelorMittal’s Indiana Harbor steel mill with the coke for its blast furnaces. IDEM’s proposed rule includes requiring Indiana Harbor Coke Co to vent no more than 19% of its coke oven waste gases into the atmosphere on any given day. A public hearing on the proposed rule will be held January 8 at the Indiana Government Center South in Indianapolis.

Indiana Harbor Coke and its parent company, Cokenergy, reached a consent decree with state and federal governments last year under which they agreed to pay a USD 5 million fine, clean up lead contamination in East Chicago and curb air pollution. Indiana Harbor Coke has been branded by regulators and environmental groups as one of the region’s worst polluters after repeated federal Clean Air Act violations.

Source : The Indiana Lawyer

voda 30 december 2019 15:55

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Nalwa Steel and Power Bags Energy Conservation Award

Chhattisgarh-based Nalwa Steel and Power Limited has been recognised as the top performer in the energy conservation sponge iron category-2019 by the Union Ministry of Power and Industry. The annual award encourages positive work accomplished in the field of energy conservation. The selection is conducted thorough scrutiny and evaluation.

Nalwa pledged to add new dimensions in energy conservation and also pioneered several technological trends in the Indian Steel Industry. It has six coal-based kilns wherein sponge iron is being produced. NALWA Steel has planted more than one lakh trees and has also been rated as one of the best environmentally managed companies in its area.

Source : Strategic Research Institute

Service 30 december 2019 16:32

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Ondertekening handelsdeal binnen een week'
Gepubliceerd op 30 dec 2019 om 16:29 | Views: 0
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WASHINGTON (AFN/RTR) - De Verenigde Staten en China ondertekenen waarschijnlijk binnen een week de onlangs afgesloten fase 1-handelsdeal. Het bereikte akkoord wordt momenteel vertaald. Zodra dat afgerond is, kunnen de handtekeningen worden gezet, zei handelsadviseur Peter Navarro op de Amerikaanse nieuwszender Fox News.
Als onderdeel van de fase 1-deal wordt een deel van de importheffingen die beide landen elkaar op hadden gelegd weer verlaagd. Zodra de VS en China het eerste deel van de handelsdeal hebben ondertekend, beginnen direct de gesprekken over een meer omvattende fase 2-deal.

voda 31 december 2019 16:56

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Beursblik: Staalprijs VS kan stijgen na ongeval bij ArcelorMittal

FONDS KOERS VERSCHIL VERSCHIL % BEURS
ArcelorMittal
15,642 -0,034 -0,22 % Euronext Amsterdam

(ABM FN-Dow Jones) Een ongeval bij een staalfabriek van ArcelorMittal in de Verenigde Staen kan gevolgen hebben voor de Amerikaanse staalindustrie. Dat stelde analist Philip Gibbs van KeyBank dinsdag.

Bij een fabriek in de staat Indiana werd vrijdag een oven beschadigd door brand, meldde Gibbs dinsdag in een rapport. Deze oven kan ongeveer 3 miljoen ton staal per jaar produceren, of ongeveer 3 procent van de Amerikaanse staalproductie.

De onverwachte storing zou de prijs voor warmgewalst staal kunnen verhogen. Na een dieptepunt op 510 dollar per ton in oktober zou die prijs begin volgend jaar kunnen oplopen tot 625 dollar per ton, volgens Gibbs.

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

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

voda 2 januari 2020 19:25

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Steel Industry in India Showing Signs of Improvement – RINL CMD

RINL-VSP CMD Mr PK Rath observed that the steel industry is showing signs of improvement in the country with the introduction of Government’s new initiatives in boosting the spending on infra, construction and auto sector. Mr Rath pointed out that many steel companies in the world are under severe stress during 2019 and the rise in raw material prices like coking coal and Iron ore severely impacted the entire steel industry bottom-line and RINL is also no exception to this development.

Mr Rath said “RINL leadership has taken several new initiatives to face the challenges and even with lower production, achieved improvement in techno-economic parameters such as improvement of BF productivity, usage of PCI in all the blast furnaces etc. Improving PCI to around 150 kg/ton hot metal in Q4 would reduce the cost of production and improve the BF productivity.”

Mr Rath said “RINL achieved a sales turn over of INR 12,700 crores during April-December 2019 despite turbulent market scenario. The exports achieved a growth of 119% and the sale of value added steel has also seen a growth of 79%. The inventory level was brought down to below 4 lakh tons by December end”

Source : Strategic Research Institute

voda 2 januari 2020 19:31

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APL Apollo Tubes Reports Robust Sales in Oct-Dec 2019 Quarter

APL Apollo Tubes registered a strong sales volume of 480,225 tonne in Q3of 2019-20, higher by 52.6 percent YoY from 314,707 tonnes in Q3 of 2018-19 led by strong demand across product categories. APL Apollo Tubes said “The structural steel construction material for residential and commercial infrastructure reported 39 per cent growth to 254,856 tonnes from 183,886 tonnes while galvanised structural steel construction material infrastructure witnessed a growth of 31 per cent to 87,748 tonnes from 66,872 tonnes. On the other hand, sales of galvanised products for industrial and agricultural uses moved up by 57 per cent to 29,631 tonnes in Q3 FY20 from 18,929 tonnes in Q3 FY19 while sales of construction material for industrial and agriculture uses rose by 35 per cent to 60,842 tonnes from 45,020 in the same period.”

Headquartered at Delhi NCR, the company operates 11 manufacturing facilities with a total capacity of 2.55 million tonne. It has a PAN-Indian presence with units strategically located in Sikandarabad, Hyderabad, Bangalore, Hosur, Raipur and Murbad.

Source : Strategic Research Institute

voda 2 januari 2020 19:31

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Indian Steel Mills Step Up Iron Ore Buying

Business Standard reported that Indian steel manufacturers have accelerated iron ore buying as they dread marked disruption in supplies after the end of lease tenure of merchant mines by March 31, 2020. BS reported “Almost all leading integrated steel makers and secondary producers have intensified iron ore sourcing to avert raw material crunch and ensure uninterrupted plant operations. They are looking to build up stocks for three to six months. Steel companies are weighing options to stash the ore in stockyards by availing land on lease. The Odisha government has previously allowed storage permits for both end user industries and merchant ore producers whose validity runs till March 2022. The grant of storage licenses for the merchant miners was warranted by the huge inventory of minerals within lease area. The disposal and sale of this stockpile was needed to facilitate smooth transition of ownership of mines and also to avert any obstruction in their production after take over by the new bidders following auctions.

Aa leading merchant miner said “We are now witnessing brisk buying from steel players and secondary steel producers. Merchant miners have not gone for any significant hike in prices of lumpy ore or fines of late as we need to liquidate the piled up ore. An uptick in domestic steel demand and the impending expiry of lease tenure has spurred intense buying of iron ore.”

Industry sources have estimated the accumulated ore at mine lease heads of merchant mines in Odisha at around 70 million tonnes. However, a bulk of the inventory is made up by baser grade fines which hardly have any uptake in the domestic market. S

teel manufacturers opt for lifting higher grade ore as inferior material escalates their costs of operations. Export markets too have been unkind to Odisha’s inferior iron ore as China’s steel mills driven by environment concerns have preferred to source superior ore or iron ore pellets.

Supply disruptions of iron ore seem ineluctable as the Union government is yet to take a firm call on extending environment and forestry clearances. Even if the two key milestones are negotiated, the new leaseholders still have a bumpy ride to cover before they could lay hands on the mines. A host of approvals like Mining Plan endorsed by Indian Bureau of Mines and Consent to Establish & Consent to Operate granted by the State Pollution Control Board need to be obtained. The state steel & mines department has set January 3 as deadline for submitting technical and financial bids in respect of these 20 blocks. Letters of Intent are scheduled to be awarded in the first week of February 2020.

Source : Business Standard

voda 2 januari 2020 19:38

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Coking Coal Import Decline Signals Contraction in Indian Steel Production

Iman Resources said tha a dip in India's steel output is set to become more prominent in the coming months with declining imports of coking coal. Iman Resources analysts said that coking coal imports in November declined by 14.52 per cent to 3.61 million tonnes, against 4.22 million tonnes in the same month last fiscal. Analyst said that coking coal import declines sharply indications do not augur well for steel production in the coming months.

Source : Strategic Research Institute

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