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voda 17 augustus 2021 12:30

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Demand recovery, higher prices give Cognor record earnings
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Cognor benefited from the continued steel demand recovery and still higher prices in the second quarter. Revenue surged 57% on-year in Q2 to PLN 716.1 million ($184.5m), while net profit soared 260% to a new quarterly record of PLN 78.8m.

In the first half of 2021 the Polish steelmaker’s overall sales rose 4.3% on-year to 432,972 tonnes. Finished product sales increased 4% to 271,329t but semi-finished steel deliveries fell 17% to 79,807t. Scrap sales rose 21% to 81,836t.

H1 revenue surged 42% to PLN 1.3 billion and net profit ballooned 406% to PLN 124.7m, Kallanish notes.

Spreads widened thanks to the faster increase in steel prices then scrap prices, while costs reduced due to the lower consumption of some input materials following the completion of investments to increase efficiency.

The firm’s Huta Stali Jakosciowych (HSJ) unit saw exports comprise 56.5% of H1 sales, while at Ferrostal Labedy they accounted for only 11.4%. Buyers Wobi-Stal and Sambud-2 accounted for over 10% each of Ferrostal Labedy’s sales.

Adam Smith Germany

voda 17 augustus 2021 13:07

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Port closures impact Vietnamese steel, scrap imports
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The closure of ports brought about by soaring Covid-19 cases has hit Vietnam’s steel and ferrous scrap imports in July, while steel exports remained strong, Kallanish notes.

Monthly steel and ferrous scrap imports amounted to 932,731 tonnes and 704,594t respectively, down 17% and 0.4% month-on-month, according to data released by Vietnam’s General Department of Customs.

Despite falling imports, Vietnam has paid higher unit prices to purchase these products. Monthly average realised prices of steel and scrap reached $ 1,081/tonne and $472/t, up 6.14% and 2.71% on-month.

Total steel imports in the first seven months this year there were 8.3 million t, down 1.2% year-on-year, but scrap imports increased by 32.5% to 4.15mt. China and Japan became the country’s largest suppliers of these two products respectively in the given period.

Year-to-date iron and steel exports stood at 7.02mt and at 1.15mt in July. Average realised prices meanwhile rose 3.91% on-month to $946/tonne.

As social distancing measures are still being implemented by locality, steel imports are predicted to continue to suffer in the short term. “The lockdown may continue for another month," a source says.

By Kallanish Team

voda 17 augustus 2021 13:07

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Coking coal remains amid hydrogen transition: Wood Mackenzie
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The onset of hydrogen-based steelmaking will increase scrap use in steelmaking, thereby reducing overall iron ore demand, although the pellet market will expand rapidly, says Wood Mackenzie. Coking coal will meanwhile remain an indispensable feedstock for steelmakers in India as the country’s steel demand outpaces its ability to decarbonise, Kallanish notes.

Carbon emissions in the steel sector must fall by 75% from today’s levels to limit global warming to within 2C, says the research company. This means reducing global steel emissions from over 3,000 million tonnes of carbon dioxide equivalent in 2020 to just 780mt CO2 by 2050. This will pose a major challenge, especially to rapidly growing developing economies, as the steel industry will need to balance managing rising demand and pressure to decarbonise.

Wood Mackenzie says five things need to happen for the steel sector to achieve a 2C warming pathway. These include doubling scrap use in steelmaking, trebling direct reduced iron production and use, reducing global average electric arc furnace emissions intensity by 70%, and reducing blast furnace-basic oxygen furnace emissions intensity by 30%. Lastly, 45% of residual carbon emissions (around 500m t/year) must be captured and stored.

This presents a huge opportunity for DRI. “Although the rise in scrap consumption would lead to total iron ore demand falling by 24% below our base case, the market for pellet products would expand by 35%,” says Rohan Kendall, head of iron ore research. This would boost DRI trade. Australia and Brazil could be well positioned to produce H-DRI for export. China and Europe would be key DRI importers.

To achieve scrap use growth, scrap recycling rates would have to increase from 80-85% to 95%. India and China scrap supply chains would require substantial development which would contribute to displacement of iron ore demand, notably taking effect post 2030.

Annual metallurgical coal demand is seen halving from Wood Mackenzie’s base case scenario to 622mt by 2050. Seaborne metallurgical coal trade would fall, although domestic coal in China would bear the brunt of declines.

“Seaborne imports would be all but eliminated during the 2040s in China, leaving only a nominal volume of the highest-quality coking coals imported to coastal mills,” says metallurgical coal principal analyst Anthony Knutson. India, on the other hand, would double its import requirement to 123m t/y.

"PCI demand comes under great pressure in a 2C scenario falling by 50% or 37mt as hydrogen injection rates increase,” Knutson adds.

A successful rollout of carbon capture and storage would provide an opportunity for continued use of metallurgical coal in steelmaking as emissions captured via this pathway are from BF/BOF steelmaking, Wood Mackenzie concludes.

Adam Smith Germany

voda 17 augustus 2021 13:07

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BlueScope deploys BF conversion, zero carbon emission plans
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Australian steelmaker BlueScope on 16 August stated it was exploring options for the future configuration of the Port Kembla Steelworks. It also detiled its 2050 net zero greenhouse gas (GHG) goal and confirmed results for its financial year ending 30 June (FY21), Kallanish notes from .

The focus is still on the option to reline the currently mothballed No.6 blast furnace (BF), once the No.5 BF comes to the end of its current operating campaign, which is expected to occur sometime between 2026 and 2030. Further updates will be provided during H1 FY22, the company says. A present, the firm expects a capital cost of around AUD 700-800 million ($511-584m) to be spent over FY23-FY25.

BlueScope also announced that it aims to reach its goal of net zero GHG emissions by 2050 covering operational scope 1 and 2 GHG emissions across its global operations. It highlighted several factors that would determine the path to net zero: the commerciality of emerging and breakthrough technologies; the availability of affordable and reliable renewable energy and hydrogen; the availability of quality raw materials; and appropriate public policy.

It also decided to allocate up to AUD 150 million over the next five years on near-term action on climate change.

“Immediately, we’ll focus on production efficiencies such as increased usage of scrap, indigenous gases and renewable energy. We are actively investigating the use of biochar as a replacement for a proportion of pulverised coal injection into BF, and are seeking government co-funding for this and other pilot projects, including a hydrogen electrolyser to trial hydrogen injection in BF,” said Mark Vassella, BlueScope’s Managing Director and CEO.

BlueScope earned sales revenues of AUD 12.87 billion and a net profit after tax of AUD 1.19 billion in FY21, up 14% and 23% year-on-year respectively. The audited results are consistent with the estimates half a month ago (see Kallanish passim).

By Kallanish Team

voda 17 augustus 2021 13:08

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Delong starts Liyang stainless project installation
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The equipment installation project for the 2,680mm stainless steel hot-rolling project of Liyang Delong Metal Technology started last week. Shanghai MCC20 is in charge of construction.

Liyang Delong plans to realise a total capacity of 6 million tonnes/year of stainless hot-rolled coil, Kallanish notes. In addition to the 6mt production line, the company has also built a 3m t/y stainless steel slab caster, a 1m t/y stainless steel hot strip mill and a 3,500mm thick plate production line.

The project's high-end stainless steel products in 300 series can replace imports for the domestic nuclear industry, chemical industry, and marine industry, according to Delong.

At present, Taiyuan Iron & Steel (Tisco) is the only company that has the ability to produce stainless HRC in widths of 1,800mm and 2,000mm. Apart from Delong, Tsingshan also plans to produce wide stainless steel through building a new 2,250mm rolling mill in Yangjiang.

By Kallanish Team

voda 17 augustus 2021 13:08

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CITIC Special Steel grows profits in H1
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Major special steel producer in eastern China, CITIC Special Steel, has reported higher revenues and profits during the first half of 2021, due to higher sales and steel prices, Kallanish notes.

The company's operating revenue was CNY 49 billion ($7.56 billion) in the reporting period, up by 34.83% year-on-year. Its net profis attributable to shareholders were CNY 4.19 billion, an increase of 52.29% on-year.

Due to the recovery in Chinese steel demand, CITIC Special Steel achieved 7.55 million tonnes of steel sales in the first half of this year, a y-o-y increase of 13.19%. The export volume of steel products was 730,000 tonnes, a y-o-y increase of 1.39%. In detail, the sales of special equipment steel, bar drill steel and injection molding machine, ring cord steel and bearing steel wire rods increased by 28%, 45%, 28% and 39% y-o-y respectively.

CITIC Special Steel now has over 14m t/y of special steel capacity, including 5m t/y of seamless pipe capacity.

By Kallanish Team

voda 17 augustus 2021 17:10

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Grootste staalconcern ter wereld gaat Nederlandse groene steenkool gebruiken

ARCELOR MITTAL
Arcelor Mittal gaat in zijn hoogovens in Gent biologische steenkool uit Nederland gebruiken. Afvalhout wordt geperst tot briketten die minder giftige stoffen uitstoten. En er wordt per saldo bespaard op broeikasgas CO2.

Herman Stil 17-08-21, 13:01

Arcelor Mittal, het grootste staalconcern ter wereld, gebruikt in zijn Belgische hoogovens jaarlijks 3 miljoen ton steenkolen. Vanaf volgend jaar is 1 procent daarvan biokool van het Amsterdamse Perpetual Next. Dat is nog maar het begin. Binnen vijf jaar is die berg gegroeid tot 350.000 ton biokool. ,,Dat is uiteindelijk een verdubbeling van onze totale productie”, zegt Joost Oostveen van Perpetual Next.

Voorgangers van het bedrijf werken sinds 2012 aan het verfijnen van een proces om bioafval - onder meer uit de bosbouw en landbouw - om te zetten in biokolen. Om zover te komen, is ruim 100 miljoen euro in het bedrijf geïnvesteerd.

Perpetual Next heeft daarbij de hele keten in handen, van grondstoffen tot de benodigde technologie om er biokool van te maken. De productie vindt zowel plaats in eigen fabrieken - onder meer in Estland - als bij grote afnemers zelf, waaronder straks de Gentse staal- fabriek.

© BELGA
,,We beginnen met hout dat overblijft na het uitdunnen van bossen, zodat andere bomen goed kunnen groeien”, zegt technologietopman Martijn Dekker. ,,En met afvalhout uit productiebossen voor de hout- en papierindustrie. Daar blijft ongeveer de helft van het hout over, omdat het ongeschikt is voor andere toepassingen.”

Het afvalhout wordt in de door het bedrijf ontwikkelde ovens zuurstofarm verhit tot 300 graden, waardoor het verkoolt en geperst kan worden tot briketten of korrels. De gassen die daarbij vrijkomen worden gebruikt om de ovens te verwarmen. Het proces (torreficeren) is volgens Dekker vergelijkbaar met het branden van koffiebonen. ,,We halen in feite het leven uit organisch materiaal. Het eindproduct heeft een enorm hoge energiedichtheid, vergelijkbaar met gemiddelde steenkool.”

Benzeen
Maar dan zonder de giftige stoffen die bij het gebruik van steenkool vrijkomen, zoals zwaveldioxide en benzeen. De uitstoot van broeikasgassen als CO2 is bij het gebruik vergelijkbaar. ,,Maar omdat de bomen en planten die wij gebruiken CO2 uit de lucht hebben gehaald, blijf je op termijn schoon.” Per ton biokool wordt per saldo 2,5 ton CO2 bespaard vergeleken met gewone steenkool, dat in tegenstelling tot de biokool niet is gemaakt van materiaal dat recent CO2 uit de lucht heeft gehaald.

Houtafval is volgens Dekker nog maar het begin. ,,We kijken naar dertig verschillende afvalstromen. Dan kan je denken aan vezelrijk restafval uit de land- of tuinbouw, tot wijnranken toe. Over een jaar of twee moet ook dat soort stromen een rol spelen in onze productie. We willen zo min mogelijk de competitie aangaan met andere duurzame initiatieven die ze ook gebruiken voor biobrandstoffen.”

Het aan de Amsterdamse beurs genoteerde Arcelor Mittal wil met alternatieve brandstoffen voor- komen dat de toenemende vraag naar staalproducten ook leidt tot toenemende uitstoot. Ook omdat de staalindustrie in de duurzaamheidsakkoorden van Parijs en de Green Deals van de Europese Unie een belangrijke rol heeft in het terugdringen daarvan.

De vraag naar groenstaal zal alleen maar toenemen. De samenleving hecht steeds meer belang aan duurzame, circulaire producten

Jan Cornelis
,,We willen tegen 2050 klimaatneutraal worden en afval uit de maatschappij inzetten als grondstof”, zegt landenmanager Jan Cornelis van Arcelor Mittal België. ,,Perpetual Next is daar een belangrijk onderdeel van, maar niet het enige. We hebben meerdere projecten nodig om die doelen te halen.”

Het concern verkoopt het staal dat met de Amsterdamse biokolen wordt gemaakt aan onder meer de auto-industrie. ,,Maar ook voor de fabricage van huishoudapparaten, zoals radiatoren en badkuipen, of in de bouw”, zegt Cornelis. ,,De vraag naar groenstaal zal alleen maar toenemen. De samenleving hecht steeds meer belang aan duurzame, circulaire producten.”

Klimaatverandering
Met de order van Arcelor Mittal is bij Perpetual Next uiteindelijk 250 miljoen euro omzet gemoeid. Ook zal het aantal medewerkers, nu honderd, binnen het jaar verdubbelen. Het bedrijf maakt deel uit van de weidse investeringsportefeuille van het Nederlandse Momentum Capital, waarin ook duurzame led-verlichting (Seaborough), attractievastgoed (Maja de Bij-pretpark in Polen) en woningbouwprojecten in Brazilië onderdak vinden.

© NurPhoto via Getty Images
,,Wij willen verdere klimaatverandering voorkomen door ervoor te zorgen dat onze klanten minder CO2 uitstoten en laagwaardige reststromen hoogwaardig te maken”, zegt Momentum-topman Martijn van Rheenen. Biokolen zijn volgens hem een tussenstap in de lange weg naar duurzamere productie. ,,Dit is niet dé oplossing, dit is een schakel in de oplossing. Maar wel een essentiële schakel.”

De overeenkomst met Arcelor Mittal moet volgens hem andere grootgebruikers van fossiele brandstoffen over de streep trekken. ,,We praten al met andere klanten. De laatste zes maanden zien we vanwege de Green Deals een versnelling.” Naast de staalindustrie liggen ook andere grote fossiele verstokers in het vizier, zoals de betonindus- trie en de chemiesector.

De biokolen van Perpetual Next zouden ook in kolencentrales gebruikt kunnen worden. Maar daar kiest het bedrijf niet voor. ,,We nemen niet de makkelijke route door dit weg te geven aan de stroomproductie”, zegt Van Rheenen. ,,Daarvoor is ons product te hoogwaardig. Voor het opwekken van elektriciteit zijn voldoende alternatieven, zoals windmolens en zonnepanelen. Voor essentiële processen als de staalindustrie of chemie zijn er nog nauwelijks oplossingen.”

www.ad.nl/economie/grootste-staalconc...

voda 18 augustus 2021 08:57

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Tata Steel MD Confirms Interest in Bidding for RINL

PTI reported that Tata Steel has evinced interest in taking over Rashtriya Ispat Nigam Limited’s Vizag steel plant. Tata Steel Chief Executive Officer & Managing Director Mr TV Narendran told PTI “Tata Steel is interested in acquiring the RINL and it would file the bid for expression of interest in this regard. Yes! Also, because for inorganic growth for long product opportunities. There is a great opportunity because it is east as well as it is south, it is a coastal plant so there are many advantages.”

The Cabinet Committee on Economic Affairs on January 27 gave its 'in-principle' approval for 100% disinvestment of government stake in RINL along with RINL's stake in its subsidiaries & joint ventures through strategic disinvestment by way of privatisation.

On Tuesday, thousands of workers of Vizag Steel Plant lay siege to the administrative building of the RINL demanding that the Centre revoke the tender notice for privatisation of the steel plant. They threatened to prevent any private company entering the premises to take part in the bidding, the last date for which was originally Tuesday. The Centre, however, deferred the bidding process by some more time.

RINL, under the Ministry of Steel, owns and operates a 7.3 million tonnes plant in Visakhapatnam, Andhra Pradesh. It holds the distinction of being India's first shore-based integrated steel plant. The RINL has approximately 22,000 acre of land and enjoys access to Gangavaram Port, where raw materials such as coking coal etc arrives.

Source - Strategic Research Institute

voda 18 augustus 2021 08:58

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Schnitzer Steel Restarts Production at Cascade Steel Rolling Mills

US steel maker Schnitzer Steel Industries Inc announced the successful restart of production at its Cascade Steel Rolling Mills in McMinnville in Oregon state of US. Earlier this week, Cascade restarted production following the substantial completion of replacement and repairs of property and equipment at the mill’s melt shop that had been lost or damaged by a fire on May 22, 2021. Cascade has resumed operations with a full workforce several weeks ahead of schedule and is accepting orders for its full range of finished steel products based on the rolling schedule. Due to the timing of the restart and the ramp up in operations, Cascade is expected to complete a limited number of sales prior to the end of August, the close of Schnitzer’s fiscal year.

Schnitzer Steel Industries Chairman and Chief Executive Officer Mr Tamara Lundgren said "I am proud of our team’s exceptional efforts to bring the mill back into production ahead of schedule, enabling us to support our customers with high quality finished steel products. Cascade is powered by electricity that is more than 95% carbon-free. Combined with the use of recycled metal as its primary raw material, the steel made in our electric arc furnace steel mill has an exceptionally low carbon impact as compared to the industry average."

Schnitzer Steel Industries Inc is one of the largest manufacturers and exporters of recycled metal products in North America with operating facilities located in 23 states, Puerto Rico and Western Canada. Schnitzer has seven deep water export facilities located on both the East and West Coasts and in Hawaii and Puerto Rico. The Company’s integrated operating platform also includes 50 stores which sell serviceable used auto parts from salvaged vehicles and receive approximately 5 million annual retail visits. The Company’s steel manufacturing operations produce finished steel products, including rebar, wire rod and other specialty products. The Company began operations in 1906 in Portland, Oregon.

Source - Strategic Research Institute

voda 18 augustus 2021 09:11

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Novorossiysk Rolling Plant Orders Danieli Wire Rod Mill

Russian steel maker Novorossiysk Rolling Plant has awarded Danieli with the order for a new wirerod mill plant, to be installed in Shakhty in Rostov Region of Russia. The new plant will be erected in a greenfield area and produce 600,000 tonnes per year of coils, as smooth rounds, from 5.5 to 16-mm-dia and hot & quenched rebar from 6 to 12-mm dia. The mill will produce low-medium carbon steel and the plant layout is conceived for future expansion by the implementation of a billet-welding machine and a spooler line. Plant startup is foreseen by the beginning of 2023.

Danieli will supply its modern and consolidated technology, which ensures fast production ramp up. The mill mainly consists of 16 SHS housingless stands plus two ESS energy saving cantilever stands in #17 and #18 finishing position, a 10-pass finishing block, an advanced water-cooled line and oil-film bearing laying head equipped with double-pipe rotor. A 100-m-long cooling conveyor with electro fans and thermal hoods will ensure proper material mechanical proprieties, ahead of a SundBirsta coil-handling system SUNDCO V-H. A Danieli Centro Combustion 120 tonnes per hour walking-beam re-heating furnace will deliver the billets to the mill at the right temperature for rolling.

The new line will be controlled and powered by Danieli Automation devices and control systems, including advanced Q-Drive MV drives for fast-finishing block motor and Hi-Profile bar measurement system.

Source - Strategic Research Institute

voda 18 augustus 2021 09:12

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Argentine Court Acquits Ternium’s Chairman in Notebooks Case

Ternium SA announced that that the first-instance judge in charge of the Notebooks Case acquitted Ternium’s Chairman Mr Paolo Rocca of all charges brought against him in the case. In its decision, the first-instance judge stated that Mr Rocca’s involvement in the Notebooks Case’s judicial proceedings does not affect his good name and honor in any way. The first-instance judge’s decision concerning Mr Rocca was not appealed by either the prosecutor or the government unit prosecuting economic crimes.

Ternium is Latin America’s leading flat steel producer, with operating facilities in Mexico, Brazil, Argentina, Colombia, the southern United States and Central America. The company offers a broad range of high value-added steel products for customers active in the automotive, home appliances, HVAC, construction, capital goods, container, food and energy industries through its manufacturing facilities, service center and distribution networks, and advanced customer integration systems.

Source - Strategic Research Institute

voda 18 augustus 2021 09:15

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Cleveland Cliffs Start Indiana Habor BF 7 Upgrade from September1

NWI Times reported that Cleveland based US Steel maker Cleveland-Cliffs will invest USD 100 million in the No 7 Blast Furnace at Indiana Harbor East in East Chicago, which is the largest blast furnace in the Western Hemisphere, making it more environmentally friendly. Cleveland-Cliffs Chairman, President & CEO Mr Lourenco Goncalves said "We are deploying a USD 100 million investment to Indiana Harbor No 7. It's happening starting September 1 and will last 45 days."

The blast furnace will be modernized to burn the new feedstock of hot-briquetted iron as well as of iron ore, which should reduce its carbon footprint. Cleveland-Cliffs has been investing significantly in HBI as a less carbon-intensive raw material that can be used in the integrated steelmaking process. Mr Gonclaves said "When that furnace comes back, it will be larger, using a lot more HBI and emitting a lot less CO2. It's already very good. We use massive amounts of HBI and we inject natural gas in the furnace."

Blast Furnace No 7 at the former Inland Steel mill in East Chicago was built 41 years ago and can forge as much as 11,500 tons of iron a day. It was last relined seven years ago, when then-owner ArcelorMittal invested USD 70 million in it.

Source - Strategic Research Institute

voda 18 augustus 2021 09:22

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SA Recycling Acquires Southern Recycling Scrap Yards

Orange California USA based SA Recycling LLC has acquired the business assets of Southern Recycling LLC, including locations in Nashville in Tennessee, which includes a shredder, and in Bowling Green and Owensboro in Kentucky. The assets were purchased from Kentucky-based Houchens Industries Inc, with the acquisition closing and becoming effective August 13. SA Recycling has retained the employees of Southern Recycling and operations continue uninterrupted under the name SA Recycling LLC. SA Recycling LLC said that the purchase will allow SA Recycling LLC to further increase its Southeast shredding and metals operations, as well as increase its scrap purchasing volumes in the area.”

In February of 2016, SA Recycling made its first entry into the Southeast scrap market when it purchased the 17 scrap processing facilities of the former Newell Recycling Southeast LLC.

In November 2017, SA Recycling LLC acquired the assets of Tennessee Valley Recycling LLC, which had been based in Decatur in Alabama and operated seven locations in Alabama and Tennessee.

In 2018, SA made two more moves in the Southeast, acquiring the assets of Georgia Recyclers in Savannah in Georgia and assuming the operations of yards in Mobile in Alabama and Hattiesburg in Mississippi, from St Louis-based Alter Trading Corp.

In 2020, SA acquired the assets of Steel City Recycling in Birmingham in Alabama and West Point in Mississippi.

Earlier this year, SA Recycling LLC entered the Florida market with the purchases of Capital Scrap (Pompano Beach, Stuart, and West Palm Beach, Florida); Metals USA (Lauderhill, Miami and Opa Locka, Florida); and Southern Scrap (Pensacola, Florida).

SA Recycling, a 50-50 joint venture between global recycler Sims Metal Management and Adams Steel, now operates 87 scrap processing facilities in multiple regions in the United States, including 15 shredders and deep-water port loading operations in Long Beach and Los Angeles in California and Savannah.

Source - Strategic Research Institute

voda 18 augustus 2021 09:22

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Mexico Extends AD Duties on CR Import from China for 5 Years

Following a recent sunset review, Mexico's economy secretariat SE has extended existing anti-dumping duties over the imports of Chinese non-alloyed and boron-added CRC for another five years. Baoshan Iron & Steel Co will continue paying a 65.99% AD tariff, while Steel Group Co will pay an 82.08% duty. Beijing Shougang Cold Rolling Co Ltd, Shougang Jingtang United Iron & Steel Co Ltd and all other Chinese exporters should pay a 103.41% AD duty.

The products subject to the AD duties fall under the HS codes 7209.16.01, 7209.17.01 and 7225.50.07.

Source - Strategic Research Institute

voda 18 augustus 2021 09:23

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Schnitzer Steel to Acquire Metal Recycler Columbus Recycling

US steel maker Schnitzer Steel Industries Inc announced that it has entered into an agreement to purchase the assets of Columbus Recycling in the Southeast region of the United States. On August 12, Schnitzer entered into a definitive agreement with Columbus Recycling, a leading provider of ferrous and non-ferrous metal recycling products and services, to acquire eight operating facilities across several states in the Southeast, including Mississippi, Tennessee, and Kentucky. The transaction is expected to close during the first quarter of Schnitzer’s 2022 fiscal year, subject to regulatory approvals.

Founded in 1956, Columbus Recycling has a well-established customer-focused business that purchases and processes scrap metal from industrial manufacturers, local recycling companies, and individuals, and sells the recycled products to regional foundries and steel mills. Combined with Schnitzer’s nine existing facilities in Georgia, Alabama, and Tennessee, the acquired operations will offer additional recycling products, services, and logistics solutions to customers and suppliers across the Southeast, a region that is expected to see a significant increase in electric arc furnace steelmaking capacity in the coming years. In the twelve months through the end of May 2021, Columbus has delivered annual sales volumes of approximately 300,000 ferrous tons which, on a pro-forma basis, would increase Schnitzer’s total ferrous volumes by approximately 7% over the same period.

Schnitzer Steel Industries Chairman and Chief Executive Officer Mr Tamara Lundgren said “The acquisition of Columbus Recycling will expand our platform and offerings in a robust regional market with immediate scale and meaningful synergies. The transaction is consistent with our growth strategy to expand metals recycling operations to meet anticipated increases in steel and nonferrous metals demand driven in part by the global transition to low carbon technologies. While a variety of solutions will be required as industries, communities, and governments actively pursue carbon reduction, the increased use of recycled metals is one path that is immediately achievable.”

Schnitzer Steel Industries Inc is one of the largest manufacturers and exporters of recycled metal products in North America with operating facilities located in 23 states, Puerto Rico and Western Canada.

Source - Strategic Research Institute

voda 18 augustus 2021 09:24

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Metalloinvest Net Income in H1 of 2021 up 300% YoY

Leading Russian iron ore, HBI producer & steel Metalloinvest announced that its revenue reached USD 5,064 million in H1 of 2021, increasing 64.7% YoU amid a favourable price environment for iron ore and steel products. The Russian market’s share of revenue increased to 37%. EBITDA amounted to USD 2,916 million, up 175.4% YoY and exceeding the result for all of 2020. The increase was driven by higher revenue as well as the impact of measures to improve operating efficiency. The Company achieved its highest-ever EBITDA margin with a YoY increase of 24.5 p.p. to 61.0%. Net income reached USD 2,167 million, an increase of 308.8% YoY. Metalloinvest CEO Mr Nazim Efendiev said “In the first half of 2021, we witnessed an impressive recovery in business activity and industrial production around the world. The effect of deferred demand as well as the various stimulating measures taken by many leading countries, including Russia, enabled the high utilisation of production capacities along the entire value chain in the metals & mining sector. As a result, against the background of faster growth in global steel consumption relative to production, an exceptionally favourable pricing environment developed in the Company’s main sales markets. This factor, combined with the efforts of management to control costs and implement operational efficiency best practices, enabled the Company to deliver remarkable financial results.”

Iron ore production amounted to 20.4 million tonnes, an increase of 1.2% YoY

Pellet production remained unchanged and amounted to 14.1 million tonnes.

The Company adopted a Climate Strategy and announced its commitment to achieving carbon neutrality by 2050.

Source - Strategic Research Institute

voda 18 augustus 2021 09:25

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Chinese Steel Exports to Australia Plummet

Global Times reported that China's steel shipments to Australia have dwindled by more than 50% in recent months and the trend is set to further accelerate, as China takes more measures to cut output and restrict exports. Industry insiders said that China's shrinking steel supply, against the backdrop of deteriorating bilateral relations, will likely lead to a steel shortage for the recovering Australian economy, which is about to embark on a massive infrastructure plan. They said "As Australia reboots its economy, demand for steel is set to further jump with the rollout of more housing and infrastructure construction. That, combined with dwindling imports from China, will only widen the supply gap, which no other country could fill.”

A steel exporter based in Tangshan told the Global Times that steel exports to Australia had plummeted recently, although the country is not his main export destination. He said "Overall steel exports have halved in recent months, but the export slump to Australia was one of the fastest.”

Another trader told the Global Times that the company's exports to Australia are very small and have continuously declined, as domestic output has been gradually controlled.

Australia’s steel imports from China account for 30% of its total steel imports, while Australia only accounts for less than 1% of China's steel shipment.

Source - Strategic Research Institute

voda 18 augustus 2021 09:26

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RoDTEP Scheme for Export Promotion Excludes Steel

Indian government has set aside INR 12,454 crore for refunds under the Remission of Duties and Taxes on Exported Products scheme for 8,555 products for the current fiscal. Under the RoDTEP, various central and state duties, taxes, and levies imposed on input products, among others, would be refunded to exporters. The reimbursement of taxes such as duty on power charges, VAT on fuel in transportation, farm sector, captive power generation, mandi tax, stamp duty and central excise duty on fuel used in transportation would make Indian products competitive in global markets. However three sectors of steel, chemicals and pharmaceuticals would not get the benefit of RoDTEP as they have done well without incentives.

INR 19,400 crore would be available for 2021-22 for both the RoDTEP and the Rebate of State and Central Taxes and Levies. The RoSCTL scheme was announced for the export of garments and apparels. For the RoDTEP scheme, the amount is INR 12,454 crore and the remaining INR 6,946 crore for RoSCTL.

The government announced the RoDTEP scheme in March last year. It was to come into effect from January 1 this year and the rates have been finally notified after seven-and-a-half months in August 2021.

RoDTEP support will be available to eligible exporters at a notified rate as a percentage of Freight On Board value. Rebates on certain export products will also be subject to value cap per unit of the exported product. It will be implemented by Customs through a simplified IT System. Rebates will be issued in the form of a transferable duty credit/ electronic scrip (e-scrip) which will be maintained in an electronic ledger by the Central Board of Indirect Taxes and Customs.

Source - Strategic Research Institute

voda 18 augustus 2021 09:45

0

Arson Suspected in Fire at Mr Kolomoisky's Warren Steel Plant

Interfax reported that a fire that broke out last week at the metallurgical plant of the Ukrainian oligarch Mr Igor Kolomoisky in Warren in Ohio in United States, as investigators suspect, could be the result of arson. The fire broke out only two days after the Ohio prosecutor general's office filed a large case against the plant for gross violations of environmental requirements after revealing mountains of toxic waste on its territory that ended up in a nearby river. According to US journalist Michael Salla, editor of the investigative journalism department of the Pittsburgh Post-Gazette, said"We really think it was deliberate arson. A source familiar with the investigation said that at the time of the start of the fire in the factory building, the electricity was cut off, the fire hydrants were turned off, there was no lighting, so imagine what happened there.

The journalist said that in the United States, Mr Kolomoisky is under investigation for money laundering, namely the theft of millions of dollars from a Ukrainian bank and secretly investing them in metallurgical plants throughout the United States. In March, the United States added Mr Kolomoisky to its sanctions list, accusing him of involvement in acts of corruption. These sanctions so far only provide for a ban on the entry of the oligarch himself and his family members into the United States.

The US Federal Bureau of Investigation is also investigating the Ukrainian oligarch in connection with the withdrawal of funds from PrivatBank in Kyiv, once the largest creditor in Ukraine, in the amount of USD 5.5 billion. Mr Kolomoisky and his partner Hennadiy Boholiubov are accused of embezzling billions of dollars from the bank, which they then owned, through fraudulent loans, and used some of the proceeds to buy assets in the United States, including real estate and steel mills.

Source - Strategic Research Institute

voda 18 augustus 2021 09:45

0

Seamless Pipe Giant Tenaris Expanding Digital Transformation

Bnamericas reported that Argentine-Italian steelmaker Tenaris is investing in integrating the data of its industrial processes in order to have better control of its plants and to monitor steel tube production. The company uses automation solutions from different suppliers, such as Siemens and Schneider, although it is now seeking to standardize systems with Siemens. On top of the automation layer, the company is running a data analytics platform, which is being developed internally with the support of a consulting firm and is hosted in Microsoft's Azure cloud. The platform seeks to integrate all industrial processes of steelmaking, including rolling and finishing.

Another important initiative is the digital monitoring of each tube throughout the process. Prior to this investment, Tenaris tracked its products by batch, but was not able to identify the tubes individually. Thanks to Pipe tracer, a tool to read the digital footprint of each tube, the company is able to gather all the information on its production, offer quality guarantees and eliminate field operations such as measuring tubes, improving the safety of operators.

Tenaris is also using digital twins for plant programming. The company has a plant layout in the form of a digital twin that allows it to see the interaction of each production component in real time.

Tenaris expects by the end of the year to integrate the data from all its plants and bring the new scheduling scheme to all its industrial sites.

Source - Strategic Research Institute

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