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voda 27 januari 2020 16:20

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ArcelorMittal Italia Changes Management Team

According to reports in Italian media II Corriere del Giorno the management team at the ex-Ilva assets, appointed by ArcelorMittal, has been changed. The report said “ArcelorMittal CEO Ms Lucia Morselli has formalized the positions in the new management committee which will take effect on Monday 27 January. Loris Pascucci, currently Head of Blast Furnaces, has been appointed Chief Operations Officer. Mr Sushil Jain, currently Performance Steering Support and Spend Control, has been appointed Chief Financial Officer. Mr Domenico Ponzio, who recently joined the company, is the new and Chief Purchasing Officer. Carlo Malasomma remains Chief Marketing Officer, Arturo Ferrucci has been appointed Chief HR Officer taking the place of Annalisa Pasquini, also hired months ago by ArcelorMittal and Alessandra De Carlo Chief Information Officer. Angelo Di Martino, currently Head of Project Management Office, has been appointed Investment Planning Coordinator; Alessandro Labile remains Health, Safety and Environment Manager; Angelo Colucci remains Supply Chain Manager. In the team confirmed the new communication manager, Emanuela Cherubini recently appointed Communications and CR Manager, Francesco Mencaroni (Rmop, Sop & Demand Planning Manager), Daniele Santoro (Legal Manager), Flavia Celentano (Compliance Manager), Giuseppe Frustaci (Head of Genova and Novi Ligure Operations).”

Market participants interpret the move as a step closer to the company's exit of the Italian market, as employees appointed by ArcelorMittal after it took control of Ilva in 2018 are stepping down to return to other operations. The government and ArcelorMittal were previously required to reach an agreement by the end of January, but sources say this is increasingly unlikely to happen. The deadline is now being pushed to 7 February, but a meeting scheduled between the Italian Prime Minister and ArcelorMittal owner Lakshmi Mittal at the 24-25 January World Economic Forum in Davos was cancelled. Expectations are that the producer will go through with its plan to leave the investment in Italy, which market participants speculate would see output at Ilva plummet, as the government regains control over operations.

Source : Strategic Research Institute

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voda 27 januari 2020 16:21

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JSW Steel Declares 3Q FY 2019-20 Results

JSW Steel Limited reported its results for the Third Quarter and the Nine Months ended 31st Dec, 2019. Crude steel production during the quarter stood at 4.02 million tonnes, up by 5% QoQ (2QFY20 production was impacted by severe monsoon, planned shutdown and weak demand). Production in the quarter was lower by 5% YoY due to extended monsoon which impacted operations at both Dolvi and Vijayanagar.

Key highlights of the quarter

Standalone Performance:
Crude Steel production: 4.02 million tonnes
Saleable Steel sales: 4.03 million tonnes
Revenue from operations: INR 15,767 crores
Operating EBITDA: INR 2,667 crores
PAT: INR 691 crores

Consolidated Performance:
Saleable Steel sales: 4.03 million tonnes
Revenue from operations: INR 18,055 crores
Operating EBITDA: INR 2,451 crores
PAT: INR 187 crores

JSW Steel said “After a weak momentum during the first half of the year, the current quarter witnessed a turnaround in business sentiment and better liquidity conditions, driving an overall improvement in steel demand and pricing from November onwards. A large part of this demand improvement is from the infrastructure and construction sectors. Following a period of prolonged inventory adjustment (destocking) in the first half, the initial spurt in demand was driven by restocking in the supply chain. As a result, the Company was able to liquidate a large part of the inventory that was accumulated in the first half, primarily by selling more in the domestic markets. Domestic shipments increased by 25% QoQ - aided by a 33% QoQ surge in sales to the retail segment. Even though overall automotive demand remained subdued in the quarter, sales to the automotive segment increased by 10% QoQ. Consolidated saleable steel sales for the quarter increased by 11% YoY and 13% QoQ to 4.03 million tonnes. The share of Value Added and Special Products in the overall shipments stood at 50%, during the quarter (from 46% in 2QFY20), and exports accounted for 24% of shipments (vs 31% in 2QFY20).”

JSW Steel Coated Products:
During the quarter, JSW Steel Coated Products registered a production volume of 0.47 million tons and sales volume of 0.52 million tonnes. Revenue from operations and operating EBITDA for the quarter stood at INR 2,982 crores and T134 crores respectively. Net Profit after Tax stood at INR 50 crores for the quarter.

JSW Steel USA Ohio (Acero)
The US based HR coil manufacturing facility produced 74,272 net tonnes of HRC during the quarter. Sales volumes for the quarter stood at 58,611 net tonnes. It reported EBITDA loss of USD 25.19 million for the quarter, which includes an inventory write-down of USD 2.02 million.

JSW Steel Italy (Aferpi):
The Italy based Rolled long products manufacturing facility produced 174,523 tonnes and Sold 156,677 tonnes during the quarter. It reported EBITDA loss of 9.95 million Euros for the quarter.

Source : Strategic Research Institute

voda 27 januari 2020 16:23

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EU Starts Registration of HR Stainless Steel Imports from Taiwan, China and Indonesia

The European Union has ordered its customs officials to register flat-rolled stainless steel imports from China, Taiwan and Indonesia, widening the threat of tariffs on the shipments. The step is part of an inquiry into whether Chinese, Taiwanese and Indonesian producers of hot-rolled, stainless-steel sheets and coils sold them in the EU below cost, a practice known as dumping. The move also covers a parallel EU probe of alleged trade-distorting subsidies to the manufacturers in China and Indonesia. Registration allows the EU to impose possible tariffs on past transactions. European Commission said “The shipments from China, Taiwan and Indonesia will be made subject to registration for the purpose of ensuring that, should the investigation result in findings leading to the imposition of anti-dumping and/or countervailing duties, those duties can, if the necessary conditions are fulfilled, be levied retroactively on the registered imports.”

Hot-rolled, stainless-steel sheets and coils are used for other kinds of steel and for tubes. EU imports of the product from around the world were worth almost 900 million euros in 2018, according to European industry group Eurofer, which filed complaints last year that led to the commission’s dumping and subsidy investigations against China, Taiwan and Indonesia.

The commission must decide by April 12 whether to introduce provisional anti-dumping duties on imports of this steel from the three countries and by Oct. 12 whether to impose definitive five-year levies. In the subsidy case against China and Indonesia, the commission must decide by July 10 on any provisional duties and by mid-November on any definitive levies.

Source : Strategic Research Institute

voda 27 januari 2020 16:23

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Turkish Cengiz Confirms Interest in British Steel

Turkish conglomerate Cengiz said on Sunday it is ready to bid for the British Steel if a rescue deal with China’s Jingye falls through. Cengiz Holding chief executive Omer Mafa said "British Steel is an important asset and we are watching developments closely and are ready to make a bid for the whole of British Steel. With a strong balance sheet and annual revenues of USD 7 billion we are well placed to acquire overseas assets. UK is one of our target countries that we want to invest in and are looking at a range of opportunities such as major infrastructure projects and industrial assets."

Jingye agreed buy the company for GBP 50 million in November although a deal is yet to be completed. The Chinese group last week agreed terms with unions over worker conditions after the buyout that could see up to 500 jobs lost. The Chinese firm stepped in after a previous deal with the Turkish army pension fund to buy British Steel out of insolvency was never finalised.

Source : Strategic Research Institute

voda 27 januari 2020 16:24

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Thyssenkrupp’s Plant Building Unit Auction Likley

Reuters, citing people familiar with the matter, reported that Thyssenkrupp will kick off the auction for its plant building unit this month. Sources said “First information packages on Plant Technology, which builds cement, fertiliser and chemical plants, will be sent out by the end of next week.”

They added that the unit may end up being sold off in parts to several buyers.

Source : Reuters

voda 27 januari 2020 16:25

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Gerdau to Shut Meltshop and Special Bar Quality Mill in Michigan

Argus reported that Gerdau will idle the melting and rolling operations at its special bar quality mill in Jackson in Michigan beginning in mid-April. The mill, located west of Detroit, has an electric arc furnace with a production capacity of 300,000 tonnes and 276,000 tonnes of rolled steel products. The Jackson mill produces special bars and shapes and cold finished bar. Gerdau said that the mill's processing and finishing facilities in Jackson will continue operating.

Gerdau will move orders from the Jackson mill to its other two special steel division mills in Monroe in Michigan and Fort Smith in Arkansas. Those mills have a combined melt capacity of 1.15 million tonnes and 1.24 million tonnes of rolled steel products.

Source : Argus

voda 27 januari 2020 16:29

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ArcelorMittal South Africa Warns of Headline Loss in 2019

ArcelorMittal South Africa has flagged that it would swing to a hefty ZAR 4 billion headline loss for the year ended in December from ZAR 968 million earnings it reported in 2018. ArcelorMittal South Africa said that attributable profit for the period would plummet at least ZAR 6.1 billion from ZAR 1.37 billion profit in 2018. AMSA said it expected abnormal and impairment charges for the financial year in review on challenging trading conditions and interventions at the Newcastle facility. The group said the closure of significant long-steel production plants was not on the cards in the foreseeable future. It said primary steel making operations would continue at Newcastle Works, although now focused on primarily serving the domestic and Africa Overland markets.

AMSA said “Significant organisational configuration opportunities have been identified to improve both operational effectiveness and controllable cost competitiveness of not only the long steel product business but that of the overall company. Development of this One Organisation initiative has begun, with an envisaged implementation in 2020.”

In November Amsa announced that it would wind down its 21-year-old loss-making Saldanha Works on weak exports and the deterioration of the plant’s competitive advantage, placing about 900 jobs at risk following a first-phase asset footprint review.

Source : Strategic Research Institute

voda 27 januari 2020 16:29

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India and US to Resolve Dispute over Steel Import Duty Amicably

India and the US have agreed to resolve amicably a dispute over American import duties on certain Indian steel products, wherein Washington is yet to fully comply with the WTO rulings. According to a communication of the WTO, both the countries continue to engage in good faith discussions to seek a positive solution to this dispute. It said that on December 18, 2019, the US notified the Dispute Settlement Body of its decision to appeal the report by the compliance panel.

India has dragged the US in WTO in 2012, alleging that Washington’s move to impose high duties on imports of certain Indian steel products is global trade rules. Then in June 2017, India again moved the WTO alleging that America has not fully complied with those rulings. India had stated that a reasonable period of time for the US to comply with the WTO’s ruling had expired on April 18, 2016. The WTO dispute resolution body had ruled against the US in this case stating that the high duty imposed by America on certain hot-rolled carbon steel flat products from India was inconsistent with various provisions of the WTO’s Agreement on Subsidies and Countervailing Measures.

Source : Strategic Research Institute

voda 27 januari 2020 16:31

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TMK Announces FY 2019 Operational Results

Leading producers of tubular products for the oil and gas industry TMK announced its operational results for the fourth quarter and twelve months of 2019. TMK CEO Igor Korytko said “In FY 2019, TMK achieved strong 5% growth in the Russian division, where shipments of seamless OCTG, our core product segment, grew 4% year-on-year due to stable demand from domestic oil and gas companies. Shipments of premium-threaded connections at the Russian division increased 15% year-on-year in FY 2019, as we remained focused on developing high tech products to consistently meet demand from our major customers who are developing increasingly complex exploration and production projects. In 4Q 2019 we launched our new R&D centre in Skolkovo which will strengthen our R&D competencies and ability to develop innovative product solutions for our customers. In early 2020, we closed the sale of IPSCO Tubulars to Tenaris. The transaction was in the line with TMK’s strategic objective of reducing the Company’s leverage through monetising its international assets. The proceeds from the deal will ensure TMK’s stability and support its further development.”

FY 2019 vs. FY 2018

- Total pipe shipments declined by 5% year-on-year, due to lower overall shipments of both seamless and welded pipe (down 5% and 5% year-on-year, respectively), reflecting a weaker performance by the American division. The impact of lower total shipments at the American division was partially offset by the strong performance of the Russian division, where total pipe shipments increased by 5% year-on-year, driven by a 4% increase in shipments of seamless OCTG pipe and a 56% increase in large diameter pipe shipments.

- Total OCTG shipments were down 11% year-on-year. However, OCTG shipments at the Russian division grew by 3% year-on-year (by 4% year-on-year net of welded OCTG shipments from TMK GIPI, which was deconsolidated in 4Q 2018), reflecting an increasing complexity of hydrocarbon production projects in Russia and a higher share of horizontal drilling.

- Total shipments of premium-threaded connections declined 10% year-on-year, while the Russian division increased shipments of premium-threaded connections by 15% year-on-year.

Voor cijfers, zie pdf.

2020 Outlook - In Russia, TMK expects pipe consumption by domestic oil and gas companies to remain stable in 2020. The increased complexity of hydrocarbon production projects in Russia is expected to result in higher demand for high tech products. In Europe, TMK expects seamless industrial pipe shipments at the European division to remain stable year-on-year, mainly supported by demand for high value-added products.

Source : Strategic Research Institute

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voda 27 januari 2020 16:33

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Moody's Changes Outlook on TMK's B1 Ratings to Positive from Stable

Moody's Investors Service has affirmed the B1 corporate family rating (CFR), B1-PD probability of default rating (PDR) of PAO TMK (TMK), one of the world's largest producers of steel pipe products for the oil and gas industry. Concurrently Moody's affirmed the B1 senior unsecured rating of the notes issued by TMK Capital SA, a wholly owned subsidiary of TMK. The outlook on the ratings has changed to positive from stable. Moody's Vice President-Senior Credit Officer Denis Perevezentsev said "Our decision to change the outlook on TMK's ratings to positive mainly reflects the fact that the company has closed the sale of 100% of shares in its US-based subsidiary IPSCO Tubulars Inc. to Tenaris in January 2020 as well as our expectation that TMK will use nearly all of cash proceeds from this deal of around $1.1 billion for debt repayment, which will lead to substantial deleveraging"

In January 2020, TMK closed the sale of 100% stake in IPSCO Tubulars Inc. to Tenaris, a leading supplier of tubes and related services for the world's energy industry, for around $1.1 billion. The transaction was signed in March 2019 and has been subject to regulatory approvals since then, including by the US antitrust authorities. Moody's expects that TMK will use nearly all of cash received from this transaction for debt repayment. As a result, TMK's leverage, as measured by Moody's adjusted debt/EBITDA, will decrease to about 3.3x as of year-end 2020 from 5.4x as of 30 September 2019, while TMK's interest coverage, as measured by Moody's adjusted EBIT to interest expense, will improve to above 3.0x from 1.7x over the same period.

The positive outlook reflects Moody's expectation that the company will be able to reduce its leverage towards 3.0x, as well as Moody's expectation that TMK will continue to demonstrate a strong operating performance and sustain its improved financial profile, while maintaining healthy liquidity over the next 12-18 months.

Source : Strategic Research Institute

voda 27 januari 2020 16:34

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SAIL Dedicates Foundation Day to the Girl Child

Steel Authority of India Limited dedicated its foundation day to the cause of raising awareness for saving the girl child by dedicating the SAIL Day Run to the theme ‘Run for Girl Child’ this year. SAIL Chairman Shri Anil Kumar Chaudhary flagged off the SAIL Day Run at Delhi where a large number of employees, ex-employees and other stakeholders took part in the program. Similar SAIL Day Run was organized across SAIL plants and units.

To mark the occasion, SAIL also embarked on a massive week-long tree plantation drive during January 24 - 30, 2020 with the aim to plant more than 75,000 trees across all its Plants and Units in the Country.

Source : Strategic Research Institute

voda 27 januari 2020 16:35

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CDP Declares ArcelorMittal at Global Leadership Level on Climate Action

ArcelorMittal has been recognised by CDP for its leadership on corporate transparency and action on climate change from among over 8,000 companies worldwide who were scored on their 2019 disclosures. ArcelorMittal scored an A- in the 2019 CDP Climate Change assessment, an improvement from C in 2017, which means the company has now reached leadership level. This puts ArcelorMittal amongst the top 11% of companies within our industry, and compares favourably against the Global average of C, Europe regional average of C, and the Metal smelting, refining & forming sector average of C.

Designed to harness the competitive spirit of business to raise ambition and spur action on corporate climate action, CDP scores thousands of companies that disclose climate data through its platform each year at the request of their corporate customers and investors.

The positive score reflects CDP’s assessment of ArcelorMittal’s global ambition to be carbon neutral by 2050, our disclosure of climate related financial risks and opportunities, and our work on a broad portfolio of low-emissions technologies designed to reduce carbon emissions, including:

Carbalyst – captures waste gases from the blast furnace and biologically convert it into bio-ethanol. The €120m launch project at ArcelorMittal Ghent is expected to be completed in 2020.
IGAR – captures waste CO2 from the blast furnace and converts it into a synthetic gas that can be reinjected into the blast furnace in place of fossil fuels to reduce iron ore. An industrial pilot of this technology is being developed at ArcelorMittal Dunkirk in France.
Torero – €40m investment to convert waste wood into bio-coal to displace the fossil fuel coal currently injected into the blast furnace. Our first large scale demonstration plant in ArcelorMittal Ghent is expected to be in operation by the end of 2020.
Reducing iron ore with hydrogen – €65m investment at Hamburg site to increase the use of hydrogen for the direct reduction of iron ore.
Carbon capture and storage – integrating breakthrough technologies to bring down the costs of capturing, purifying and liquifying CO2 from waste gases. Construction of a carbon capture and storage pilot project, 3D, will begin at ArcelorMittal Dunkirk in 2020 and will be able to capture 0.5 metric tons of CO2 an hour from steelmaking gases by 2021.
Steligence solutions to aid the design and delivery of low carbon buildings
S-in motion® range of solutions to reduce the weight of (electric) cars and trucks without compromising on strength, and our iCARe® specialist steels for electric motors.

Source : Strategic Research Institute

voda 27 januari 2020 16:35

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RINL CMD Mr PK Rath Sees Improvement in Steel Demand

RINL-VSP CMD Mr PK Rath while addressing Republic Day celebrations said that “The slowdown in Indian Economy in 2019-20 added few challenges to the Steel Industry. The long product segment suffered the most as the construction and automobile sector sustained prolonged sluggishness. However, the situation is improving.”

He said that RINL achieved a commendable improvement of 10% in Blast Furnace productivity, 9% improvement in BF Coke Rate, tremendous improvement of 60% in Pulverized Coal Injection n Blast Furnace etc.

Mr Rath stated that RINL entered into niche market and started production of 430 MM Rounds in Steel Melt Shop-2, a first in India. Baron and CO2 grade steel were also developed successfully in the plant.

Source : Strategic Research Institute

voda 27 januari 2020 18:00

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Wereldwijd meer staal geproduceerd

FONDS KOERS VERSCHIL VERSCHIL % BEURS
ArcelorMittal
13,584 -0,516 -3,66 % Euronext Amsterdam
Bekaert
23,72 -0,58 -2,39 % Euronext Brussel

(ABM FN-Dow Jones) De mondiale staalproductie is in 2019 gestegen. Dit bleek maandag uit cijfers van brancheorganisatie World Steel Association.

In totaal maakten de 64 staalproducerende landen in het afgelopen jaar 1.870 miljoen ton staal, een stijging van 3,4 procent op jaarbasis.

In China, wereldwijd met afstand de grootste fabrikant van staal, steeg de productie in 2019 met 5,7 procent tot 1.342 miljoen ton. De Japanse productie daalde met 4,8 procent.

De Verenigde Staten produceerden 1,5 procent meer staal dan een jaar eerder. In totaal ging het om 87,9 miljoen ton.

Duitsland zag de productie daarentegen met 6,5 procent dalen, terwijl Frankrijk 6,1 procent minder produceerde. De totale EU kende een krimp van 4,9 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 27 januari 2020 18:47

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Hier nog een link naar het originele bericht van Worldsteel. (Met grafieken)

www.worldsteel.org/media-centre/press...

voda 27 januari 2020 18:48

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In pdf vorm:

www.worldsteel.org/en/dam/jcr:9cb7e1c...

voda 27 januari 2020 20:34

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Tata Steel deels uitgezonderd van Amerikaanse strafheffingen

Tata Steel in IJmuiden. Foto: Robin Utrecht voor het FD

Een deel van de staalproductie van Tata Steel in IJmuiden is dankzij diplomatieke inspanningen van het kabinet niet langer belast met Amerikaanse importheffingen. Het gaat om zogeheten dubbelgelaagd gelamineerd staal, dat onder andere in spuitbussen en blikjes is verwerkt. Minister Sigrid Kaag voor Buitenlandse Handel en Ontwikkelingssamenwerking sprak van een 'belangrijke zege voor Tata' toen zij het nieuws maandagmiddag bekendmaakte.

Het lobbysucces betekent concreet dat net iets minder dan een vijfde van de totale staalexport van Tata Steel Nederland naar de VS voortaan is uitgezonderd van importheffingen van 25%.

De bilaterale deal met de VS volgt na maanden van 'moeizame' onderhandelingen op hoog diplomatiek niveau. Zo sprak Kaag persoonlijk met de Amerikaanse minister van Economische Zaken Wilbur Ross over de kwestie. Dat het kabinet zo hoog inzette, heeft alles te maken met het feit dat gelamineerd staal uit Japan eerder wel al werd vrijgesteld van Amerikaanse importtarieven, terwijl op Nederlands staal de heffingen aanvankelijk intact bleven. 'Wij voelden ons niet fair behandeld', zegt een Haagse ingewijde.

In Nederland is Tata Steel het enige bedrijf dat gelamineerd staal maakt. Volgens een woordvoerder van het IJmuidense bedrijf levert Tata al 'zo'n vijftig jaar' deze geavanceerde staalsoort aan Amerikaanse bedrijven als Crown, Ardagh, Silgan en Ball. De Amerikaanse industrie produceert zelf geen dubbel gelaagd gelamineerd staal.
Rijkelijk veel
Kaag is 'trots' dat zij de VS heeft kunnen overtuigen de heffingen te schrappen, zei zij tegen BNR Nieuwsradio. De D66-minister beweerde dat zij Tata Steel hiermee behoed heeft voor een omzetverlies van '€100 mln'. Nieuwe contracten met Amerikaanse bedrijven dreigden als gevolg van de strafheffingen niet rond te komen. Een woordvoerder van Tata Steel noemt dit bedrag echter 'rijkelijk veel', zonder zelf in te gaan op precieze bedragen. Wel spreekt zij over 'super goed nieuws' voor Tata Steel.

De vrijstelling komt op een moment dat er binnen het staalbedrijf veel onrust is over en verzet tegen de plannen van het Europese moederbedrijf om 1600 banen in IJmuiden te schrappen. Of dit betekent dat er meer werkgelegenheid in IJmuiden behouden kan blijven, kon zij niet zeggen.

Tata exporteerde in 2019 531.000 ton staal naar de VS, waarvan ongeveer 300.000 ton verpakkingsstaal. Op een derde daarvan vervallen nu de importheffingen. 'Dit is dus absoluut nog geen vrijwaring voor de totale export', aldus de zegsvrouw. 'Maar dit resultaat stemt ons hoopvol. Diplomatieke inspanningen op hoog niveau werpen zijn vruchten af.'

Stortvloed aan goedkoop staal
De Amerikaanse president Donald Trump voerde in juni 2018 importheffingen in van 25% op Europees staal en 10% op Europees aluminium. Naar eigen zeggen om de Amerikaanse staalindustrie te beschermen tegen 'een stortvloed aan goedkoop buitenlands staal'. De EU noemde die maatregelen bij monde van toenmalig Commissie-voorzitter Jean-Claude Juncker destijds 'zuiver protectionisme' en 'niet gerechtvaardigd'. 'De overcapaciteit van staal op de Amerikaanse markt wordt niet veroorzaakt door de EU.'
Kaag hoopt dat deze deal het startpunt is voor nog meer succesvolle onderhandelingen met de Amerikanen. 'Ik heb dit gedaan in het kader van de verdediging van Nederlandse bedrijven. Wij betreuren het dat een bondgenoot importtarieven heft en zullen die ook nooit als rechtmatig bestempelen.'

fd.nl/economie-politiek/1332552/tata-...

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voda 28 januari 2020 14:39

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Nucor boekt meer winst dan verwacht

(ABM FN-Dow Jones) Nucor heeft in het vierde kwartaal van 2019 toch meer winst geboekt dan verwacht. Dit maakte het Amerikaanse staalbedrijf dinsdagmiddag bekend.

De winst per aandeel kwam in het afgelopen kwartaal uit op 0,35 dollar. In december vorig jaar voorzag Nucor voor het vierde kwartaal nog een winst tussen de 0,25 dollar tot 0,30 dollar per aandeel. Volgens topman Leon Topalian viel de winst hoger uit dan verwacht vanwege sterke prestaties bij de staalfabrieken van het bedrijf. "We zijn van mening dat de voorraadafbouw in 2019 tot een eind kwam in het vierde kwartaal, waarbij het normale kooppatroon onder klanten weer naar boven kwam", aldus Topalian, die de marktontwikkelingen in het vierde kwartaal zag verbeteren, mede vanwege een renteverlaging door de Federal Reserve, nieuwe arbeidsafspraken tussen GM en de United Automobile Workers en vooruitgang in het handelsconflict tussen China en de VS.

"Door de recente economische ontwikkelingen hebben we er meer vertrouwen in gekregen dat het positieve momentum zal aanhouden in 2020."

Hoewel de winst hoger uitkwam dan verwacht, viel deze nog steeds flink lager uit dan in het derde kwartaal van 2019 en ook in het vierde kwartaal van 2018. In het derde kwartaal boekte Nucor een winst per aandeel van 0,90 dollar en een jaar eerder zelfs een winst van 2,07 dollar per aandeel.

In heel 2019 boekte Nucor een winst van 1,27 miljard dollar, ofwel 4,14 dollar per aandeel, tegen 2,36 miljard of 7,42 dollar per aandeel een jaar eerder.

Verder daalde de omzet in het afgelopen kwartaal tot 5,13 miljard dollar, een daling van 6 procent op kwartaalbasis en van 18 procent op jaarbasis.

Outlook

Voor het lopende eerste kwartaal verwacht Nucor dat de winst toeneemt ten opzichte van het vierde kwartaal en dat over 2020 de prijzen zullen stabiliseren. Desondanks voorziet Nucor wel dat de winstgevendheid van staalproducten in het lopende kwartaal afnemen, vanwege seizoensgebonden effecten.

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

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

voda 28 januari 2020 19:18

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Update: Kone bevestigt miljardenbod op liftenbedrijf Thyssenkrupp

FONDS KOERS VERSCHIL VERSCHIL % BEURS
KONE Oyj -B-
61,02 2,86 4,92 % Helsinki Stock Exchange
ThyssenKrupp AG
11,75 0,59 5,29 % Frankfurter Wertpapierbörse (Xetra)

(ABM FN-Dow Jones) De Finse liftenspecialist Kone heeft bevestigd een bod van om en nabij 17 miljard euro te hebben gedaan op de liftendivisie van Thyssenkrupp, na een bericht hierover van persbureau Bloomberg.

Om de markt duidelijkheid te bieden, bevestigde het Finse bedrijf dinsdag dat het een niet-bindend bod heeft gedaan op het liftenbedrijf van Thyssenkrupp. Het bedrag ligt "redelijk dichtbij" de cijfers die in de media circuleren, stelde Kone voor de duidelijkheid. Bloomberg noemde een bedrag van circa 17 miljard euro, in een consortium met private equity-firma CVC Capital Partners.

Het bod is niet definitief en andere bieders zijn nog in de race, benadrukte Kone.

Volgens Bloomberg probeert Kone minstens een miljard hoger te bieden dan andere partijen, om mogelijke mededingingsbezwaren weg te kunnen nemen. De Europese liften van Thyssenkrupp zouden geheel naar CVC gaan, omdat Kone anders te dominant zou worden op de Europese markt.

Kone, gespecialiseerd in liften, roltrappen en automatische deuren, stelde dinsdag dat het liftenbedrijf van Thyssenkrupp geografisch gezien een zeer goede aanvulling is, met synergieën die aanzienlijke waarde kunnen creëren. Ook zouden de twee bedrijven samen beter kunnen innoveren in verdere digitalisering.

Volgens Bloomberg wil Kone zowel in contanten als deels in eigen aandelen betalen en het Finse bedrijf zou zelfs enkele miljarden euro's vooraf willen betalen, die Thyssenkrupp mag houden als de deal wordt geblokkeerd door toezichthouders.

Het Finse Kone is gespecialiseerd in nieuwbouw, onderhoud en modernisering van liften, roltrappen en automatische deuren.

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

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

voda 29 januari 2020 16:17

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Many Steel Mills may bid for Neelachal Ispat

Business Standard reported that Tata Steel, JSW Steel, and Adani Group are likely to bid for Neelachal Ispat Nigam’s one million tonne steel plant in Odisha’s Kalinganagar industrial complex. Key facilities of the NINL steel mill, such as blast furnace and steel melting shop, are on shutdown for over six months for want of capital infusion by the lead promoters. Only the coke oven plant was operating at depleted capacity.

Earlier this month, the Cabinet Committee on Economic Affairs gave the approval for strategic disinvestment of 100 per cent equity shares in NINL. While MMTC has already apprised the BSE of its intent to sell its entire 49.78 per cent equity in NINL, two other Odisha government-owned PSUs Odisha Mining Corporation and Industrial Promotion & Investment Corporation of Odisha ere no longer keen to retain their stake adding up to 32 per cent. The other stae holders are NMDC, Bharat Heavy Electricals, Mecon.

Source : Business Standard

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