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voda 16 augustus 2021 14:47

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Salzgitter to restart idled blast furnace
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Salzgitter plans to restart the smallest of its blast furnaces at its strip steel unit Salzgitter Flachstahl after nearly two years in November, Kallanish hears from the German steelmaker.

Blast furnace C was idled in late 2019 when overall steel demand was at a low point, and Salzgitter so far this year has hesitated to take it back into operation to feed the prevailing steel hunger. Instead, it received slabs from Hüttenwerke Krupp Mannesmann (HKM), in which it owns 30%. HKM normally supplies slab for pipe production, which is suffering from low demand.

Blast furnace C has an annual crude steel capacity of 600,000 tonnes. Together with the other two blast furnaces, Salzgitter Flachstahl has a capacity of 5 million t/year. In the first half year, the mill – based in the city of Salzgitter – made 2.1mt of crude steel, against 1.9mt in the first half of 2020. Rolled steel production rose to 2.24mt, from 1.99mt on-year.

Christian Koehl Germany

voda 16 augustus 2021 14:47

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NMDC’s iron ore output, sales, profit grow
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Indian iron ore miner NMDC’s output rose 35% on-year to 8.91 million tonnes in the first fiscal quarter through June and sales grew 51% to 9.45mt, Kallanish notes.

“The rise in sales comes on the back of robust domestic demand and peaking of international iron ore prices, makes this the best Q1 for NMDC since the company’s inception,” says NMDC.

NMDC’s Kirandul complex mine’s output was registered at 3.22mt in FQ1 and Bacheli complex mine’s at 2.71mt. Donimalai and Kumaraswamy mine’s production clocked at 1.29mt and 1.68mt, respectively.

Sales at Kirandul complex were noted at 3.88mt and Bacheli complex at 3.03mt. Donimalai and Kumaraswamy mine’s sales registered at 1.31mt and 1.2mt, respectively.

The state-owned mine’s profit after tax rose 499% to INR 3,193 crore ($429.91m) against INR 533 crore a year earlier. The turnover rose 236% to INR 6,512 crore against INR 1,938 crore last year. Ebitda grew 423% to INR 4,322 crore against INR 826 crore.

The average domestic realisation was noted at INR 6,813/t, and average sales realisation grew 123% on-year to INR 6,823/t against INR 3,064/t.

“Indian steel majors are reporting strong results and have also announced expansion plans. That combined with the government’s determination to continue spending on infrastructure projects while we return to normalcy is extremely encouraging for us at NMDC,” says NMDC’s managing director Sumit Deb.

Sayed Aameer India

voda 16 augustus 2021 14:47

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JFE Steel discloses quarterly financial results
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JFE Steel reached a consolidated revenue of JPY 638.5 billion ($5.79 billion) in the first quarter of its fiscal year 2021 (FY21) ending 31 March 2022, up 25.52% year-on-year, Kallanish learns from its parent company JFE Holdings’ announcement.

The company turned losses of JPY 57.8 billion a year earlier to a quarterly profit of JPY 69.7 billion. For the whole financial year, JFE Steel has set a target of JPY 3.13 trillion in revenue and JPY 280 billion in profit.

In terms of steel output, the figure stood at 6.59 million tonnes in the reporting quarter, up 29.47% from the corresponding quarter last year. Consolidated semi-annual guidance has been set at less than 13.6mt.

Quarterly shipments meanwhile rose 14.6% y-o-y to 5.26mt on a non-consolidated basis, at an average price of JPY 87,600/tonne. The firm expects to boost sales volumes to 11.4mt at an average selling price of JPY 95,00/t in the first half of FY21.

By Kallanish Team

voda 17 augustus 2021 08:27

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China’s Crude Steel Output in July Falls Severely on Crackdown

China’s crude steel output fell in July to the lowest monthly level since April 2020 as authorities stepped up production controls designed to meet a target of keeping output unchanged from last year as Chinese government bids to cap carbon emissions. National Bureau of Statistics showed that China produced 86.79 million tonnes of crude steel in July 2021, falling 7.6% from June and 8.4% from 93.36 million tonnes in July 2020. In the first seven months of the year, China made 649.33 million tonnes of steel, up 8% from the same period a year earlier. In the January-July period this year, China produced 533.5 million tonnes of pig iron, up 2.3% YoY and finished steel outputs totalled 809.02 million tonnes up 10.5% YoY

Such more visible reductions in steel production are due to the inspections at mills and tighter controls on production and emissions by the government. Moreover, weak seasonal demand has added to the pressure. Since late June, Beijing has dispatched inspection teams to local governments and mills to check that cuts in steel capacity and output are being implemented, shutting down outdated blast furnaces and limiting production at more heavily polluting plants.

China Iron and Steel Association said last week “We should focus on reducing crude steel output at companies with poor environmental performance, high energy consumption and outdated technology and equipment and to ensure 2020 crude steel output falls from a year earlier.”

The association and analysts expect steel demand in China to cool in the second half of the year due to slowing construction activity and still-tight semiconductor supplies that are constraining manufacturing and metals demand in the auto sector.

Source - Strategic Research Institute

voda 17 augustus 2021 08:28

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Thyssenkrupp Decision on Steel Business not before Spring 2022

Reuters reported that Thyssenkrupp Chief Financial Officer Klaus Keysberg said last week that Thyssenkrupp will decide on how it plans to further develop its steel business. He told “Any decision on how we can make steel an independent company while simultaneously tackling the green transformation requires a clear framework of conditions. And there won’t be a decision on the matter before next spring.”

The group in February said it was considering a spin-off for the division as an alternative to keeping it, hoping cost cuts and a steel market recovery will help it fetch a higher valuation as a separate entity.

Source - Strategic Research Institute

voda 17 augustus 2021 08:33

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FIR Filed for Negligence over Worker Death at JSPL Plant

PTI reported that Chhattisgarh Police have registered a case against three officials of Jindal Steel & Power Limited over alleged negligence related to the death of a 51-year-old contractual worker at a plant of the firm in the state’s Raigarh district two months back. On May 3, Mr Tapan Ghosh, the worker, died during treatment at a Raipur hospital after suffering injuries when an angle iron fell at the JSPL plant in Patrapali

Police said “Mr Ghosh worked for an engineering company which has a contract for the repairing work at the plant. Police found the plant management and the engineering company ignored safety measures, which caused the accident in which Ghosh died. In all, five people have been booked for negligence.”

A JSPL spokesperson said, “We will comply with the guidelines laid down by the government and abide by the orders of the court of law in this regard.”

Source - Strategic Research Institute

voda 17 augustus 2021 08:33

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Metinvest Achieves Blast-Furnace Efficiency with Machine Learning

Ukraine-headquartered Metinvest, looking to improve the efficiency of its blast furnaces by reducing fuel consumption by controlling the silicon content in its iron, has started a pilot project with Azure Data Factory and Azure Machine Learning and having seen its efficiency improve against benchmarks set by industry leaders, the company is now looking to roll out the solution across all its furnaces. Indeed, the fuel consumption in a blast furnace varies depending on several factors, one of which is the silicon content in the cast iron with an indirect indicator of heating. The higher the silicon content in the cast iron, the higher the heating and fuel consumption. However, lowering the silicon content requires fine balance, since with a low silicon content, there is a risk of cold snap and disruption of the blast furnace. The accuracy of the assessment of the future thermal state of the blast furnace and the corresponding control actions are the key to stability. Reducing the silicon content by 0.1 percent can allow savings of up to ten kilograms of coke.

In late 2018, Metinvest launched a large-scale program aimed at improving the efficiency of its assets. One major aspect was to improve the fuel consumption of the blast furnaces with expected added value of over USD 100 million. To achieve this goal, Metinvest began an artificial intelligence pilot program in one of its blast furnaces using machine learning to predict the silicon content in the iron over a time horizon of up to nine hours. Azure Data Factory as the main orchestration tool in data integration process. Data is being uploaded on a regular basis, and the model developed in Azure Machine Learning predicts the amount of silicon in cast iron. After that, the Azure Machine Learning pipelines kick in. These pipelines help to retrieve data and launch the actual Python scripts including those responsible for data preparation. The machine learning models use this data to predict silicon content. The results of prediction are uploaded to the Azure SQL database

The implementation was accompanied by complex measures: starting from the adaptation of the algorithms for controlling the thermal conditions of the blast furnace, training the operators of the blast furnace, and revising the goals and motivational component of the shop employees. It took three months to stabilize the thermal conditions and to reduce the silicon in the cast iron. As a result, by the end of the year, the silicon variability had decreased from the historical 0.16 to 0.1, which made it possible to reduce the silicon content in cast iron and obtain targeted coke savings. Metinvest now set its sights to roll out the fully developed solution across all its furnaces as soon as possible.

Source - Strategic Research Institute

voda 17 augustus 2021 08:34

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Tashkent Metallurgical Plant Team Trained at Danieli Service

Uzbek cold-rolled galvanized and color-coated flat products producer Tashkent Metallurgical Plant relied on Danieli to supply a greenfield cold-strip mill complex, which was installed in the industrial area of the capital of Uzbekistan. Danieli Service drew up a detailed, 23-week training program for the operators and maintenance teams, including dedicated theoretical and practical sessions involving more than 15 Danieli specialists for a total 145 instructor man/days and 1405 trainee/days. The training covered all the topics related to the entire cold-strip process route, namely pickling, cold rolling, galvanizing and color coating.

On-site training for operation, mechanical and electrical maintenance and automation carried out at similar installations, followed the in-class training held at Danieli Headquarters in Italy.

Source - Strategic Research Institute

voda 17 augustus 2021 08:35

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NLMK Continues Repairs at One of Steelmaking Shops

Operation has been suspended at NLMK Lipetsk BOF Shop No 2 to enable additional works on facilities that supply oxygen to the shop. Ramp-up of steelmaking equipment to maximum capacity after repair works were completed at the oxygen distribution unit has identified the need for further infrastructure enhancements. BOF Shop No 2 will resume operation on August 21-23, according to preliminary estimates.

Rolling production continues to operate as planned.

Source - Strategic Research Institute

voda 17 augustus 2021 08:35

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GMS Market Commentary on Ship Breaking in Week 32

World's leading cash buyer of ships for recycling GMS said that “We have seen the first signs of cooling in the Indian sub-continent markets this week, as steel plate prices declined by about USD 30/LDT in Bangladesh. Even the Turkish market showed signs of softening this week, as both import and Turkish local steel prices reported declines of their own, and early indications out of Turkey already seem slightly softer than the preceding weeks. This has come as something of a surprise to many in the industry, especially since it was only recently announced that China would not be exporting steel until further notice, thereby ensuring domestic supplies do not lose their values with cheap billets undercutting their own inventories. The significance of this announcement from China is likely to prevent any significant declines in steel prices and may even lead to stable-to-positive market movements, moving forward into Q4, especially as the monsoons subside in the sub-continent.”

GMS said “The most recent ship recycling recession greeted us in 2015, when steel prices more than halved as a result of the Chinese market dumping cheap steel billets across global steel markets, leading to the introduction of anti-dumping laws across the Indian sub-continent and elsewhere. However, fluctuations in steel and vessel prices are a perennial reality in these respective markets, even though fundamentals do remain firm and there seems a small chance of an adjustment in the recycling markets (at least in the short term), especially as forward prices on steel remain bullish to stable.”

GMS added “Several vessels, particularly in the beleaguered tanker sector, continue to work firm on a weekly basis, as shipowners look to cash in on some of these fantastic offerings above USD 600/LT LDT on select units.”

GMS Pricing

India/Bangladesh/Pakistan – Week 33, Cooling

Dry Bulk – USD 560-590 per LDT

Tankers - USD 570-600 per LDT

Containers - USD 570-600 per LDT

Source - Strategic Research Institute

voda 17 augustus 2021 08:36

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US Steel Production Capacity Utilization Slips in Week 32

American Iron & Steel Institute announced that in the week ending on August 14, 2021, domestic raw steel production was 1,869,000 net tons while the capability utilization rate was 84.7 percent. Production was 1,476,000 net tons in the week ending August 14, 2020 while the capability utilization then was 65.9 percent. The current week production represents a 26.6 percent increase from the same period in the previous year. Production for the week ending August 14, 2021 is down 0.2 percent from the previous week ending August 7, 2021 when production was 1,872,000 net tons and the rate of capability utilization was 84.8 percent.

Adjusted year-to-date production through August 14, 2021 was 58,296,000 net tons, at a capability utilization rate of 80.3 percent. That is up 19.5 percent from the 48,767,000 net tons during the same period last year, when the capability utilization rate was 66.6 percent.

Broken down by districts, here’s production for the week ending August 14, 2021 in thousands of net tons: North East: 157; Great Lakes: 638; Midwest: 202; Southern: 799 and Western: 73 for a total of 1869.

Source - Strategic Research Institute

voda 17 augustus 2021 08:38

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Mechel ChMK Beams Used for Construction of Kola Shipyard

Russian steel maker Mechel’s Chelyabinsk Metallurgical Plant produced more than 40 thousand tonnes of beams for the construction of the Center for the construction of large-scale offshore structures, formerly known as the Kola shipyard, in the Murmansk region. The customer for the construction of a specialized shipyard near the village of Belokamenka in the Murmansk Region is Novatek's subsidiary Novatek-Murmansk. The supplied are made by the metal trading company Mechel-Service

The shipyard will build and equip floating reinforced concrete structures for the creation of offshore structures of the gravity type that is transported to the base afloat and diving to the bottom at the expense of its own weight. The purpose of the platforms is natural gas liquefaction and transshipment plants. The modules of the gas liquefaction plant itself are also planned to be manufactured at the shipyard.

The shipyard will build the largest dry docks in Russia with a length of 400 m, a width of 175 m and a height of 20 m.

Source - Strategic Research Institute

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voda 17 augustus 2021 08:38

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Pakistan Increases Minimum Price of Steel Products

Urdu Point reported that Pakistan’s Federal Board of Revenue has increased the minimum prices of steel products vide SRO 985 dated August 4th, 2021, in the wake of increased prices of steel products in the domestic and international markets. The new prices of Bars have been fixed at PKR 140,000 (USD 856); Billets at PKR 125,000 (USD 764), Ship-plates at PKR 120,000 (USD 734) and Scrap at PKR 118,000 (USD 721). Federal Board of Revenue said “Upward revision was essential in the wake of recent surge in local and international prices of steel products and to prevent possible loss of revenue. Minimum prices would be fixed on quarterly basis.”

Federal Board of Revenue is empowered to fix minimum prices of steel products under proviso to clause (46) of section 2 of the Sales Tax Act, 1990. Last time the prices of steel products were fixed by Federal Board of Revenue vide SRO 992 dated 4th Sep, 2019.

Source - Strategic Research Institute

voda 17 augustus 2021 08:42

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Olympic Steel Reports Record Second-Quarter 2021 Results

Leading US metals service center Olympic Steel Inc announced that net income for the second quarter totaled USD 29.6 million as compared with a net loss of USD 6.5 million in the second quarter of 2020. Adjusted EBITDA for the second quarter of 2021 was USD 51.7 million, compared with USD 0.5 million in the second quarter of 2020. The Company reported sales totaling USD 556 million for the second quarter of 2021, compared with USD 248 million in the second quarter of 2020.

Olympic Steel Chief Executive Officer Mr Richard T Marabito said "The second quarter of 2021 was the most profitable quarter in the history of Olympic Steel. Our strategic execution and ongoing focus on working capital and operating expenses, combined with exceptional markets and historically high metal prices, resulted in record quarterly adjusted EBITDA of USD 51.7 million and our second consecutive quarter of record sales. Our shipping volumes have returned to pre-COVID levels and we expect steady demand to continue in the third quarter despite our customers navigating persistent component shortages and other supply chain and labor constraints.”

He added “We are optimistic about the future and, in the near term, anticipate a similarly strong third quarter. We are hopeful that new infrastructure legislation will be passed this year and we are poised to be key supplier to our customers who provide equipment and components that are critical to the nation’s roads, bridges and other infrastructure."

Source - Strategic Research Institute

voda 17 augustus 2021 09:37

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Die kunnen ze ook als schroot afvoeren...

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voda 17 augustus 2021 10:11

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En weer een koersdoelverhoging!

Advies van GVC Gaesco over Arcelor Mittal
Beurshuis GVC Gaesco
Aandeel ArcelorMittal
Datum 16 augustus 2021
Advies Opbouwen
Koersdoel 35,00 EUR

Detail advies
(Trivano.com) - Op 16 augustus 2021 hebben de analisten van GVC Gaesco hun beleggingsadvies voor ArcelorMittal (MT; ISIN: LU1598757687) herhaald. Het advies van GVC Gaesco voor ArcelorMittal blijft "opbouwen".

Het koersdoel wordt door de analisten verhoogd van 31,00 EUR naar 35,00 EUR.

Op 11 februari 2021 publiceerde ArcelorMittal zijn jaarresultaten.

voda 17 augustus 2021 11:59

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Ningbo Steel to commission No.2 BF in October
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Ningbo Steel plans to commission its upgraded No.2 blast furnace in October 2021, Kallanish notes. The project has entered the final phase of construction.

The steelmaker looks to conduct hot testing of this 2,500 cubic-metre blast furnace's hot stoves in late-August, and then expects the operation of the blast furnace two months later. The furnace will reach 2.1 million tonnes/year of iron capacity.

The upgrade contract was placed by Ningbo Steel with Chinese technology supplier WISDRI in May 2020. WISDRI will use advanced ironmaking technology in the upgrade, combining intelligent control systems and energy-saving systems, and adding a new dust removal system and hot air stove. The upgraded blast furnace will have lower operating costs and reduced pollution.

Ningbo Steel is a wholly-owned subsidiary of Hangzhou Iron & Steel. It is a fully-integrated steelmaker with iron and steel production, casting and hot rolling facilities. It is located on the coast, giving it clear advantages in transport of both inputs and outputs. It has the capacity to produce around 4m t/y of hot-rolled coil. Its main products include carbon steels, structural steels, alloy steels, automotive steels, cold forming steels and electrical steels.

By Kallanish Team

voda 17 augustus 2021 11:59

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CSC July income hikes on steel price rise
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Taiwan’s China Steel Corporation (CSC) saw revenues and profits increase in July thanks to rising steel prices, although the company’s monthly steel sales fell by 0.74% from June to 800,114 tonnes, Kallanish notes.

Accumulated sales volume through July this year was 5.72 million tonnes. CSC meanwhile generated an operating revenue of NTD 255 billion ($9.16 billion), of which 81.5% was contributed by steel products directly.

In July, the company’s operating income on a consolidated basis stood at NTD 8.16 billion with an increase of 3.51% on-month. The figure accounts for about a quarter of income in the first half of 2021, and over January-July operating income totalled NTD 41.4 billion, compared to a NTD 3.73 billion loss in the same period last year.

By Kallanish Team

voda 17 augustus 2021 12:00

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Raw steel retreats on-week in US
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US raw steel production slipped slightly on-week but remains up massively on-year, Kallanish learns from the American Iron and Steel Institute.

US production stands at 1.869 million short tons at 84.7% capability utilisation - down 0.2% from the previous week, when utilisation was 84.8%, but up 26.6% from the equivalent week last year, when utilisation was just 65.9%.

The South led production by region with 799,000 st, followed by the Great Lakes with 638,000 st and the Midwest with 202,000 st. The Northeast produced 157,000 st, while the West produced 73,000 st.

Year-to-date production stands at 58.296m st at 80.3% average utilisation, up 19.5% from last year, when the average utilisation was 66.6%.

Dan Hilliard USA

voda 17 augustus 2021 12:00

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Canadian metal sales rise in June
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Monthly sales of both primary metals and fabricated metal products rose in Canada during June, Kallanish learns from data gathered by Statistics Canada.

According to a monthly manufacturing survey, Canadian monthly sales of primary metals rose by 1.1% in June to $5.02 billion. Similarly, monthly sales of fabricated metal products rose by 0.4% in June to $3.55 billion. In an on-year comparison, sales of primary metals and fabricated metal products remain up by 41.7% and 19.5%, respectively.

Overall, monthly manufacturing sales in Canada rose by 2.1% in June with gains attributable to improved auto assembly production along with higher petroleum and coal sales.

Zach Johnson USA

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