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voda 16 april 2020 16:13

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Metinvest Central GOK Complets Modernization of Equipments

At the Central GOK, Metinvest Group implemented a large-scale project to modernize the enrichment plant for the production of premium concentrate with a mass fraction of iron of 70.5%. This allowed us to create the first production line in Ukraine for the production of high-grade pellet for DRI technology. The production line was modernized in the spring of 2019. During this period, a section of thin screening and dehydration was built, and one of the sections of the processing plant of the plant was also updated.

Modern equipment makes it possible to enrich conventional concentrate in order to obtain a product with an iron content of 70.5% at the output. It is this kind of raw material that is necessary for the manufacture of pellet, which is used in DRI technology.

Source : Strategic Research Institute

voda 16 april 2020 16:14

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US Steel Plans For Virtual Annual Meeting of Stockholders

United States Steel Corporation announced that its Annual Meeting of Stockholders will be held in a virtual meeting webcast format. Due to the public health impact of the coronavirus pandemic COVID-19 and to protect the well-being of its employees, stockholders and other stakeholders, the location of the annual meeting has been changed to a virtual format only. As previously announced, the annual meeting will be held on Tuesday, April 28, 2020 at 8:00 a.m., Eastern Time. Online access to the meeting will begin at 7:45 a.m. Eastern Time. Stockholders will not be able to attend the annual meeting in person.

US Steel stockholders, as of the close of business on March 2, 2020 (the record date for the annual meeting), are entitled to join the live virtual meeting. To attend, participate in and/or vote at the virtual Annual Meeting at www.virtualshareholdermeeting.com/X2020, stockholders must enter the 16-digit control number found on their proxy card or voting instruction form previously distributed.

Source : Strategic Research Institute

voda 16 april 2020 16:15

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S&P Lowers Tata Steel Outlook to B+

S&P Global Ratings has lowered its ratings outlook on Tata Steel as the agency does not foresee improvement in the steel maker's earnings and financial profile over the next 12-18 months. The agency lowered its long-term foreign currency issuer credit rating on Tata Steel and subsidiary ABJA Investment Co. Pte. Ltd., and the issue rating on various US-dollar denominated senior unsecured notes ABJA has issued, to 'B+' from 'BB-'. S&P Global Ratings said “The outlook reflects risks of further weakening in Tata Steel's credit profile if the effect of economic conditions and lower commodity prices are more prolonged than our current expectations. The downgrade mainly reflects our expectation that the improvement in Tata Steel's earnings and financial profile, on which the 'BB-' rating was based, is unlikely to materialise in the next 12-18 months. This is mainly due to Covid-19 related disruptions and the consequent economic effects.”

S&P Global Ratings has also lowered its rating on Tata Steel UK Holdings Ltd to 'B' from 'B+' in line with the rating action on its parent, Tata Steel.

Source : Strategic Research Institute

voda 16 april 2020 16:16

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SAIL’s COVID-19 Testing Lab starts functioning at Ispat General Hospital at Rourkela

SAIL collaborated with Odisha Government and played a crucial role in setting up the COVID-19 Testing Lab at SAIL- Rourkela Steel Plant’s Ispat General Hospital and made ready for sample testing. While all the major equipment for the testing facility have been provided by Govt. of Odisha, the infrastructure has been provided by SAIL-RSP. Doctor and paramedics of Ispat General Hospital trained at RMRC, Bhubaneswar and AIIMS, Bhubaneswar will carry out the testing. Nasal and throat swab collected from the suspected persons of the surrounding region will be tested at the Laboratory of IGH. It normally takes around 6 to 7 hours to get the results of a batch of samples.

Earlier, SAIL-RSP had supplied 5 ventilators to the Odisha government few days ago and has been continually working along with local state administration to provide medical facilities in the fight against Corona.

Source : Strategic Research Institute

voda 17 april 2020 15:42

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Indian Steel Demand Likely to slip by 14-25% in 202-21 - Crisil

Rating agency Crisil in latest report “Melting steel - The Covid-19 pandemic is set to wreck profitability” said “With Covid-19 casting a long shadow over a much-anticipated mild recovery in fiscal 2021, the Indian economy needs to steel itself. Along with external factors such as weak global demand, supply disruptions, and worldwide financial shocks, the economy is grappling with lockdown, factory shutdowns, reduced discretionary spending, and delayed capex cycle. We expect this perfect storm to affect construction activities and automobile production, and thereby, steel demand. So, how low will steel demand go? Given the uncertainty in the current environment, we have based our analysis on two possible scenarios baseline and pessimistic with regard to the spread and containment period of the pandemic. In our baseline scenario, steel demand in India would contract 14-17% this fiscal. Extended vulnerability, on the other hand, will increase the demand contraction to 22-25%.”

On a quarterly basis, steel demand would be a washout in the first quarter of this fiscal, given the pan-India lockdown that would hurt construction. All automobile plants have also been shut, which will further weaken demand prospects. There is also no respite from the capital goods industry in the current scenario. Demand will pick up only from the second half of this fiscal. A full-fledged recovery will take longer because of the following reasons:

Weak demand from infrastructure on account of lower capex by government. The lower infrastructure capex in on account of diversion of funds towards health and public welfare

Building and construction would contract this fiscal on account of weak demand from real estate and private individual home builders

Supply constraints for the automobile sector as well as muted demand with estimated gradual recovery only in the second half would lead to sluggish wholesale offtake.

Weakening capacity utilisation amid the virus outbreak would also weigh on industry capex, thereby dampening demand from the capital goods segment

It said “We expect weak steel demand in the first quarter, led by the Covid-related lockdown. While demand would contract in the second quarter as well, pent-up demand release, especially in construction and infrastructure, would aid growth in the second half. No capacity additions are expected during the year since steel players have postponed capex plans.”

Source : Strategic Research Institute

voda 17 april 2020 15:44

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US Steel idling Keewatin Taconite Plant

US Steel is idling its Keewatin Taconite plant on the Iron Range indefinitely as that demand for iron and steel has dropped following the global COVID-19 pandemic that shut key industries including US auto factories. The closure will affect 75 employees near term but a total of 375 employees over the next month, said officials. The state of Minnesota has been notified US Steel said “After further study of current demand, we must make additional adjustments to our raw materials production and indefinitely idle our Keetac facility to respond to the sudden and dramatic decline in business conditions resulting from the worldwide COVID-19 pandemic.”

Keetac can produce about 6 million net st of iron ore pellets each year

With Keetac idling, it is not clear if US Steel also plans to take similar action at its other iron pelletizing operations in Minnesota. US Steels owns Minntac in Mountain Iron and owns a minority share of Hibbing Taconite in Hibbing.

Source : Strategic Research Institute

voda 17 april 2020 15:45

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JSW USA idles Ohio & Texas Steel Mills

SP Global reported that JSW Steel USA plans to temporarily idle its hot-rolling mill and electric arc furnace in Ohio and is putting its pipe mill in Baytown, Texas, on care and maintenance mode as demand for steel has deteriorated as a result of the coronavirus pandemic. CEO Mr John Hritz said “The hot mill and EAF at Mingo Junction is expected to be temporarily idled in mid-April for about four weeks as the company completes planned capital expenditure projects related to a modernization of the EAF and general maintenance. The pipe mill at Baytown will be shifted to care and maintenance from mid-May onward. The company plans to complete several maintenance projects, with the restart of production dependent on an improvement in market demand.”

Mr Hritz said “JSW expects to continue hot-rolling activities at its Baytown, Texas, plate mill as it completes the remaining activities related to cold commissioning of the first phase of the company's USD 260 million plate mill modernization project. We will continue operating the plate processing and shipping facilities to make sure all customer deliveries are met on time.’

The company has issued Worker Adjustment and Retraining Notification notices to employees as it will temporarily lay off certain employees in April and May.

Source : SP Global

voda 17 april 2020 15:45

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China Crude Steel Output in March Hit as Coronavirus Crisis Cuts Demand

Data from the National Bureau of Statistics showed that China produced 78.98 million tonnes of crude steel in March 2020 down by 1.7% YoY from 80.33 million tonnes in March 2019 as mills cut back production due to high stockpiles and thin profit margins amid the coronavirus pandemic. However, China's crude steel output in January-March 220 grew by 1.2% YoY to 234 million tonnes.

The coronavirus has battered Chinese steel sector, propelling inventories in China to at least a 14-year high in mid-March amid slumping demand at home and abroad. Some firms cut production as profit margins fell, while measures to contain the spread of the coronavirus slowed any return to business as normal.

Source : Strategic Research Institute

voda 17 april 2020 15:46

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LIBERTY Ostrava to idle Blast Furnace No 2

After an assessment of market conditions resulting from the COVID-19 pandemic, LIBERTY Ostrava has decided to temporarily idle its Blast Furnace No 2 until the end of August. The plant’s Blast Furnace No 3 will remain in production. This will allow LIBERTY Ostrava to better adapt to the significant slowdown in the European steel market by reducing hot metal production by 20 % and more efficient management of inventories. It will also allow the business to remain operationally and commercially flexible, so it can adapt to changes in customer demand in the most effective manner.

Blast Furnace No 2 is to be placed under a care and maintenance” regime, enabling it to be re-opened swiftly once the economic environment improves. The 400 employees affected, i.e. less than 7 %, will be redeployed where there are vacancies while others will be rotated on temporary unemployment with 70 % salary, so they maintain regular access to the plant, can continue their professional development and to ensure the impact on each individual and their families is minimized.

Source : Strategic Research Institute

voda 17 april 2020 15:46

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NLMK Group Resumes Production in Verona

NLMK Group has resumed production at the Verona plant in Italy. Company’s official told Interfax “NLMK Verona has resumed production along the entire chain: steelmaking, production of ingots and plates. The plant now operates in a reduced load mode due to low market activity and government orders. The company, together with local unions, has introduced a number of safety measures for plant workers.”

Production at the NLMK Verona was suspended at the end of March for two weeks in connection with a decree of the Italian government, which required the suspension of industrial production, with some exceptions, for two weeks amid a coronavirus pandemic.

The metal rolling company in Verona produces mainly plate and forged ingots. The plant capacity is about 450 thousand tonnes of products per year. The company employs 260 people.

Source : Strategic Research Institute

voda 17 april 2020 15:47

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EVRAZ Sees Fall in Domestic Steel Demand

Evraz Group remains closely focused on its operations, including logistics, supply and technological processes. At present, EVRAZ is facing no significant issues with the production or supply of raw materials and other goods. Shipments continue, and raw material deliveries to enterprises are stable. It said “However, in the near term, we expect domestic steel demand to fall due to the significant economic down-turn that the restrictions imposed due to COVID-2019 are causing worldwide, including in Russia. This will, no doubt, affect firstly our construction products sales and then our railway products sales, to a slightly lesser extent. We expect the impact on exports to be less significant. This is due to the recent rouble devaluation and EVRAZ’s ability to redirect steel from domestic sales to export markets.”

It said “While the impact on the Group has been limited so far, we are likely to experience challenges in the near term. While our enterprises have been operating at full capacity, the situation is likely to be more complex in May and June. In the light of this, EVRAZ is working on a comprehensive package of optimisation measures that we expect to partially mitigate these negative effects.”

Source : Strategic Research Institute

voda 17 april 2020 15:48

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Indian Steel Association Sees Lockdown Relaxations Boosting Steel Demand in India

The Indian Steel Association noted that the revised guidelines on the on-going nationwide lockdown will help significantly boost steel demand in the country. It tweeted “We welcome the guidelines issued by the #MinistryOfHomeAffairs to give relief in restarting various manufacturing, logistics, construction, agriculture and other socio-economic sectors from April 20, 2020. The consolidated revised guidelines by allowing operations in mining, construction and infrastructure will help to generate demand for the steel sector. The Indian #Steel Industry welcomes the opening of these sectors. Allowing interstate movement of goods by road, rail, air and inland waterways and free movement of contractual labour will provide a welcome boost to the manufacturing sector of which steel is a vital part. The consolidated revised guidelines by allowing operations in mining, construction and infrastructure will help to generate demand for the steel sector. The Indian Steel Industry welcomes the opening of these sectors.”

According to government guidelines for enforcing the second phase of the coronavirus lockdown, industrial units located in rural areas will be allowed to function from April 20, while all kinds of public transport has been barred and opening of public places prohibited till May 3. The units in rural areas will be able to operate only if they follow social distancing norms.

Source : Strategic Research Institute

voda 17 april 2020 15:49

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MISIF Releases SOP for Malaysian Steel Makers

The Malaysian Iron and Steel Industry Federation have developed a standard operating procedure for its members after they received permission from the government to resume operations during the movement control order period. ISIF said the SOP would be a source of reference for members as they comply with the prevailing requirements set by the Health Ministry and guidelines by other relevant enforcement agencies. It said “This SOP serves as a guide to MISIF members on the recommended health and safety precautions, and measures that should be adopted to mitigate or to minimise the impact of Covid-19 on employees and visitors within the premises.”

The federation said its members, upon getting the green light to resume operations, submitted their applications to the Ministry of International and Trade Industry for official approval.

Source : Strategic Research Institute

voda 17 april 2020 15:50

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Pakistan’s All Iron Steel Merchants Association call for Tax Relief

Business Recorder reported that Pakistan’s All Iron Steel Merchants Association has called for tax relief measures to safeguard the interests of the business community in the wake of the coronavirus pandemic. President AISMA Hammad Poonawala has said that during this spreading pandemic of Covid-19 entire world is experiencing economic crisis and moving towards a global recession which may be worse than the great depression. He said “Pakistan, which has already experienced low growth rates in recent years, cannot escape recession and the lockdown has resulted in complete closure of business for the last three weeks. In these tough times, there is a need to take some tax structural reforms and measures to protect the businesses, particularly the SMEs. Steel and cement industry has been completely ignored in the relief package for the construction industry. Ignoring steel industry will definitely hamper obtaining desired results from the relief package for the construction industry.”

He said that the importers of iron and steel are facing a lot of difficulties in the retirement of documents from the banks due to closure of business resulting into liquidity shortfall. He said “We request the authorities concerned to issue directions to the banks to get import consignments cleared and place them at bonded warehouse under lien at importers' expense as importers are willing to deposit a reasonable margin as security to the bank which will be adjusted at the time when final payments are made. For smooth functioning and ease of doing business, the general sales tax must be reduced from 17 percent to 9 percent, which should be uniform for registered and unregistered buyers to curb the issuance of fake invoices which is causing colossal loss to the national exchequer.’

He said that on behalf of AISMA, Chairman of Import Committee Sadiq Gogan has already submitted several suggestions to the Prime Minister of Pakistan, Finance Advisor and Governor State Bank for the revival of business activities.

Source : Business Recorder

voda 17 april 2020 15:58

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Severstal’s Russian Steel Division Results for Q1 of 2020

Severetal’s Russian Steel Division steel product sales increased 4% QoQ to 2.76 million tonnes in Q1 of 2020 as compared to 2.66 million tonnes in Q4 of 2019. The Company increased its share of steel export shipments to 45% as compared to 41% in Q4 of 219 responding to a seasonal slowdown in domestic demand.

Voor cijfers, zie pdf.

Source : Strategic Research Institute

Bijlage:

voda 17 april 2020 15:59

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CSBC to Supply Steel Tubular Structures to Sing Da

CSBC Corp of Taiwan has signed a deal to supply steel tubular structures for the construction of 20 of Sing Da Marine Structure Corp’s transition pieces used in jacket foundations for offshore wind developer Orsted Taiwan Ltd’s project off the coast of Changhua County. Transition pieces, which are situated between the submarine jacket foundation and the wind turbine tower section, are essential elements in holding together wind turbines.

The two companies last year collaborated in the construction of steel tubular structures for two transition pieces to be used in the first phase of Orsted’s offshore 1 and 2a wind farms in Changhua.

CSBC has invested in equipment and set up a wharf to facilitate shipments of the heavy construction materials used in wind farms. The company is also expanded its production capacity for steel structures, with a second plant expected to be completed by July.

Source : Strategic Research Institute

voda 17 april 2020 15:59

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Moody's reviews Tata Steel Ba2 CFR for Downgrade;

Moody's Investors Service has placed under review for downgrade Tata Steel Ltd.'s Ba2 corporate family rating. At the same time, Moody's has downgraded Tata Steel's wholly owned subsidiary, Tata Steel UK Holdings Limited's CFR to B3 from B2 and placed the CFR under review for further downgrade. The outlooks have been revised to ratings under review from stable.

RATINGS RATIONALE

The rapid and widening spread of the coronavirus outbreak, deteriorating global economic outlook, falling oil prices, and asset price declines are creating a severe and extensive credit shock across many sectors, regions and markets. The combined credit effects of these developments are unprecedented. The steel sector has been one of the sectors most significantly affected by the shock given its sensitivity to consumer demand and sentiment.

More specifically, the weaknesses in the credit profiles of Tata Steel and TSUKH, including their exposure to steel demand for manufacturing and volatile material costs, have left them vulnerable to shifts in market sentiment in these unprecedented operating conditions, and they remain vulnerable to the outbreak continuing to spread.

Moody's regards the coronavirus outbreak as a social risk under its ESG framework, given the substantial implications for public health and safety. Today's action reflects the impact on the companies of the breadth and severity of the shock, and the broad deterioration in credit quality it has triggered.

On 1 April, Tata Steel announced that:
(i) Its mining operations are currently operating at usual capacity
(ii) Its integrated steel facilities in India and Europe have started reducing production
(iii) It has suspended and put on care and maintenance mode its downstream facilities, in anticipation of weak steel demand.

Source : Strategic Research Institute

voda 17 april 2020 16:00

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International Steel Reports 72% Dip in 9 Month Profit

Pakistan’s International Steels profit plunged 72% to PKR 655.6 million in the nine month period ended March 31, 2020 as against profit of PKR 2.359 billion in the corresponding period of previous financial year. The steel manufacturer reported net sales of PKR 38 billion in Jul-Mar of current financial year, which was 9.5% lower than PKR 42 billion in the same period of last year. On the other hand, gross profit of the company declined 26% to PKR 3.4 billion in the nine months under review compared to PKR 4.6 billion in the same period of previous year.

International Steels Limited is the largest Flat Steel manufacturer in Pakistan. The company was incorporated in 2007 and commenced production in 2010, with equity contributions from Sumitomo Corporation, JFE-Japan and the International Finance Corporation, a division of the World Bank. To date, the company has invested approximated USD 250 million in establishing a state-of-the-art flat steel complex.

Source : Strategic Research Institute

voda 17 april 2020 16:00

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ArcelorMittal Announces Commitment for New USD 3 Billion Term Loan Facility

Confirming the continued strong support of its key relationship banks, on 16 April 2020 ArcelorMittal received underwriting commitments in respect of a new USD 3 billion credit facility. The Credit Facility represents a new commitment from BNP Paribas, Crédit Agricole Corporate & investment Bank, JP Morgan and Société Générale, and further enhances the Company's already strong liquidity position of USD 10.5 billion as of 31 December 2019, including a EUR 5.5 billion revolving credit facility, which remains undrawn and is fully available until December 2024.

The new Credit Facility will have a maturity of 12 months and can be used for general corporate purposes. While the Company has no immediate need to draw on this new Credit Facility, it will provide additional financial flexibility in the current extraordinary circumstances.

Source : Strategic Research Institute

voda 17 april 2020 16:01

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Trasteel Acquires Officine Tecnosider in Italy

Switzerland Lugano based steel trader Trasteel International has taken over Officine Tecnosider of San Giorgio di Nogaro in Udine in Italy. Officine Tecnosider founding partners Giampiero Gori, Ivo Sant, Giorgio Pinto and Ivo Conti in a letter sent to Tecnosider's 110 employees explained that the decision to cede control of the rolling mill is based on logic of strengthening in line with aggregation and concentration trends. Tecnosider boasts a presence in international markets that is worth over 70 percent of its EUR 200 million turnover.

Officine Tecnosider is in field of hot rolled plate production inside of the industrial park Aussa Corno in Udine in Italy. It stands on an area of 90,000 square meters, of which 20,000 are covered. The mill has a production capacity of 350KT of hot rolled plates per year.

Source : Strategic Research Institute

Vertraagd	28 feb 2025 17:36
Koers	27,440
Verschil	-0,010 (-0,04%)
Hoog	27,510
Laag	26,950
Volume	2.533.234
Volume gemiddeld	2.646.487
Volume gisteren	2.223.038

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