DeBeurs.nl

voda 12 oktober 2022 07:26

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Klöckner Expects Q3 EBITDA Lower due to Negative Market Effects

Duisburg Germany headquartered Klöckner & Co SE has achieved a positive operating income, EBITDA, before material special effects of EUR 16 million in the third quarter of 2022 despite the exceptionally negative macroeconomic environment, the significant correction of steel prices and weak demand. Klöckner said “Despite the significantly improved normalized margin level, this figure was below the previous forecast range of EUR 50-100 million due to an unforeseen inventory write-down at the end of the quarter as a result of the exceptionally high steel price declines and an actively enforced inventory reduction. The company was able to generate strong and significantly positive cash flow from operating activities of around EUR 150 million with a significantly reduced inventory level.”

Klöckner added “Despite the slowdown in earnings momentum in the third and fourth quarters of 2022 due to the significant steel price correction, Klöckner & Co continues to expect one of the best full-year results since its IPO in 2006. Contrary to the previous forecast of more than EUR 500 million, however, EBITDA before material special effects is now expected to be around EUR 400 million due to the active reduction in inventories against the background of the macroeconomic environment and the inventory write-downs. Furthermore, Klöckner & Co forecasts an exceptionally positive cash flow from operating activities for the full year 2022.”

voda 12 oktober 2022 07:27

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H2 Green Steel Partners with Midrex for DRI Technology

Swedish startup H2 Green Steel is partnering with a world leader in direct reduction ironmaking technology for the steel industry Midrex. Midrex’s owner, Kobe Steel is further solidifying the partnership by investing in H2 Green Steel as part of its Series B financing round. H2 Green Steel will build the world’s first facility for direct reduced iron running on 100% green hydrogen, based on Midrex’s technology. The Midrex H2 Plant will have a yearly production of 2.1 million tonnes of hot DRI and hot briquetted iron that will feed the production of initially 2.5 million tonnes of green steel in Boden in northern Sweden. This first-of-a-kind DRI plant will be provided by a consortium of Midrex and Paul Wurth, an SMS group company.

H2 Green Steel’s purpose is to decarbonize hard-to-abate industries, starting with steel. Its process will remove up to 95% of carbon emissions compared to traditional steelmaking with a blast furnace. The bulk of the emission reductions will happen with Midrex’s technology when iron ore is reduced to sponge iron. The companies will also work together for optimization services in the DRI-process.

Midrex is a wholly owned subsidiary of Kobe Steel, and sealing the partnership further, Kobe Steel has made an investment in H2 Green Steel. In addition, Kobe Steel has begun discussions with H2 Green Steel for the possible purchase of green HBI in the future. H2 Green Steel may have some over-capacity of HBI in the transition for the company’s production to reach full capacity.

voda 12 oktober 2022 07:37

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AMKR, Ferrexpo production suffers amid Russian strikes
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Ukrainian steelmaker ArcelorMittal Kryvyi Rih (AMKR) has limited consumption of electricity to its most energy-intensive equipment and temporarily reduced production, following fresh Russian missile strikes across Ukraine, the company tells Kallanish.

“It is important to reduce electricity consumption in the city of Kryvyi Rih and for personnel safety,” says a spokesperson for the steelmaker. “We hope to return to the regular production equipment schedule after the stabilisation of energy supply in the country. However, products are being shipped to customers on a scheduled basis.”

Ukrainian iron ore miner and producer Ferrexpo has meanwhile been forced to stop production after members of its workforce were injured as a result of the attacks, the company says.

State-owned electrical infrastructure, which is located outside of the group’s operations, has been damaged. Limited power supply is available for the company’s operations, which is being prioritised for critical equipment required for essential services and local communities.

Engineers are currently conducting an assessment of the damage incurred to electrical infrastructure and evaluating the expected downtime as repairs are carried out.

Ferrexpo says it has a sufficient volume of products, either currently in transit or in stock, to meet its expected sales volumes, subject to logistics corridors remaining available.

“We are working to ensure that power is provided in critical areas, both within our facilities and in local communities, in order to support the safety of our workforce and community members,” says Ferrexpo chief executive Jim North.

Metinvest, Dnipro Metallurgical Plant (DMZ), Interpipe and Centravis did not reply before deadline on Tuesday to Kallanish request for comment about impact on production. Metinvest’s Kametstal works and DMZ are both located in Kamianske, which was reported to be without electricity on Tuesday.

AMKR announced earlier it is counting on growth of export deliveries of its steel products to EU countries in the fourth quarter (see Kallanish passim).

Ferrexpo’s output of iron ore pellet declined by 60% on-quarter and 68% on-year to 0.8 million tonnes in the third quarter due to Russia's invasion and associated logistics constraints requiring production to be curtailed. Nine-month pellet production fell 31% on-year to 5.64mt.

Svetoslav Abrossimov Bulgaria

voda 13 oktober 2022 07:14

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Research Shows Hydrogen-Reduced DRI Has Superior Properties

New research within the HYBRIT project, driven by SSAB, LKAB and Vattenfall, shows superior results on the properties and quality of the hydrogen direct reduced sponge iron made using HYBRIT technology. Test results prove that the direct reduction of iron ore using hydrogen offers a superior product that is easy to handle, transport and store. It also virtually eliminates CO2 emissions in the reduction process.

The HYBRIT initiative was started by SSAB, LKAB and Vattenfall to develop a new technology for hydrogen based iron- and steelmaking with the aim to establish a fossil-free value chain from the mine to finished steel product. In June 2021, the HYBRIT-initiative succeeded in producing the world´s first hydrogen direct reduced sponge iron at the pilot plant built with support from the Swedish Energy Agency.

New test results from the HYBRIT pilot plant and the R&D Lab reveal that direct reduced iron with hydrogen creates a product with significantly improved properties and quality. Hydrogen-reduced carbon-free DRI produced with HYBRIT technology in the pilot plant is highly metallized and has superior mechanical and aging properties compared to direct reduced iron using fossil-based reducing gas such as natural gas. Hybrit Development AB has filed patent applications describing the included inventions to the European Patent Office.

voda 13 oktober 2022 07:15

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DIAPM Scraps Strategic Sale of SAIL's Visvesvaraya Iron & Steel Plant

India’s Cabinet Committee on Economic Affairs had accorded ’in-principle' approval for strategic disinvestment of Steel Authority Of India Limited’s Visvesvaraya Iron & Steel Plant at Bhadravathi in Karnataka. As a part of strategic disinvestment process Global Expression of Interest was invited on 4 July 2019 by SAIL for strategic disinvestment of VISP. Department of Investment and Public Asset Management announced “Multiple Eols had been received and qualified bidders had conducted due diligence. However, due to insufficient bidder interest in proceeding further with the transaction. Government of India, with the approval of Empowered Group of Ministers has decided to annul the Eol and thereby terminating the present transaction.”

Visvesvaraya Iron & Steel Limited was founded by the Engineer Statesman of the erstwhile State of Mysore, Sir M Visvesvaraya as Mysore Iron & Steel Works in 1923, as a small pig iron unit and gradually matured into a modem steel complex. In 1989, pursuant to a Memorandum of Understanding executed between the Government of India, Government of Karnataka and SAIL, SAIL purchased the shares of VISL from the Government of India and the Government of Karnataka, such that VISL became a subsidiary of SAIL. In 1998, pursuant to an order passed by the Central Government the Visvesvaraya Iron and Steel Limited and Steel Authority of India were amalgamated into a single entity SAIL.

Visvesvaraya Iron & Steel Limited is a pioneer in production of high quality alloy and special steels including carbon steels, free cutting steels, case hardening steels etc and pig iron. Steel is produced through Blast Furnace - Basic Oxygen Furnace - Ladle Refining Furnace - Vacuum Degassing route. The facilities include vacuum degassing, vacuum oxygen decarburization, ladle refining furnaces, ingot teeming, continuous casting, hydraulic-high-speed forging press, a fully automatic horizontal long forging machine with high programmable logic controller system for a semi-automatic and automatic mode of operation. VISP has an installed capacity of 216,000 tonnes per annum of hot metal and 98,280 tonnes per annum of saleable steels. The Visvesvaraya Iron and Steel plant is located at Bhadravati in Shimoga District of Karnataka, at a distance of about 240 km from Bangalore. The following map indicates the location of the plant.

voda 13 oktober 2022 07:15

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Thyssenkrupp to Supply Low-CO2 bluemint Steel to Miele

German steel maker thyssenkrupp Steel Europe and domestic appliance maker Miele Group have signed a memorandum of understanding for the supply of climate-friendly steel from the direct reduction plant planned for 2026 at the Duisburg site. The first hydrogen-fueled direct reduction plant with downstream melters will have a capacity of over two million metric tons and will already reduce CO2 emissions at thyssenkrupp Steel by more than 20 percent. From the start-up of the plant, thyssenkrupp Steel will supply the leading manufacturer of premium home appliances with climate-friendly bluemint Steel. In subsequent years, the quantities purchased are to increase step by step, with Miele and thyssenkrupp aiming to switch 100% to bluemint Steel by 2030.

The memorandum of understanding that has now been signed is also the expression of a long-standing partnership between thyssenkrupp Steel and Miele. This partnership is now being supplemented by the development of a joint sustainability concept through the supply of CO2-reduced steel.

Miele has set itself the goal of reducing CO2 emissions of its appliances in the use phase (Scope 3 emissions according to the recognized criteria of the Greenhouse Gas Protocol standard) by a further 15% by 2030 compared to 2019. Since this accounts for the majority (85%) of Miele's emissions, it offers the greatest leverage for reducing emissions

Miele is the world's leading supplier of premium domestic appliances for cooking, baking, steam cooking, refrigeration/freezing, coffee preparation, dishwashing, laundry and floor care. In addition, the company makes dishwashers, air cleaners, washing machines and dryers for commercial use, as well as washer-disinfection and sterilization units for medical facilities and laboratories. Founded in 1899, the company has eight production sites in Germany, one plant each in Austria, the Czech Republic, China, Romania and Poland, as well as the two plants of the Italian medical technology subsidiary, the Steelco Group. Its headquarters is in Gütersloh, in the Westphalia region of Germany.

voda 13 oktober 2022 07:34

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Steel Scrap Feels the force of Industrial Slowdown - BIR

BIR World Mirror on Ferrous Metals Quarterly Report October 2022 highlights that “The economic and industrial outlook appears unfavourable for the remainder of this year, particularly in Europe where cuts in gas supplies from Russia and drastic energy price increases have been undermining recovery efforts from the COVID pandemic. The availability and cost issues surrounding energy have been forcing many industries to reduce production significantly, including the steel sector on which the scrap industry so heavily relies.”

Scrap companies in Europe have been reporting a range of challenges, including the higher energy costs impacting on their own operations, a continuing shortage of skilled workers and diminishing volumes of yard infeed. On the plus side, a weak Euro has enabled many European exporters to increase their shipments to Turkey, upping their combined market share from 51% to 68% in the first eight months of 2022; several cargoes have also been reported to South Asia.

On the other side of the Atlantic, fears in early October were of a record sixth consecutive month of US ferrous scrap price decreases - despite availability pressures. However, with the approach of the winter period set to impair intakes of obsolete grades even further, dealers believe the point will shortly be reached where scrap tightness outweighs reduced mill demand.

Despite a 5.6% year-on-year decline in shipped volumes in the first half of 2022, the US total of 8.874 million tonnes was ahead of the EU-27 in second place on 8.515 million tonnes (-23.9% year on year).

Compared to the same period last year, the first half of 2022 witnessed a 3% decrease in Turkey’s overseas steel scrap purchases to a little under 12.5 million tonnes. In second and third place on the world importer list were, respectively, the Republic of Korea (+29.1% to 2.722 million tonnes) and India (+0.3% to 2.673 million tonnes).

The BIR report also confirms that China’s steel scrap consumption was 13.8% lower year on year in the first half of 2022 at 119.55 million tonnes - in percentage terms, more than double the 6.5% decline seen in the nation’s crude steel production over the same period.

voda 13 oktober 2022 07:34

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ArcelorMittal Kryvyi Rih to Limit Use of Electricity

The Ukrainian government has appealed to businesses and citizens of the country to limit energy consumption in connection with a massive Russian missile attack on energy infrastructure facilities. As a result, ArcelorMittal Kryvyi Rih in Dnipropetrovsk region has decided to limit electricity consumption by the most energy-intensive equipment and temporarily reduce current production. ArcelorMittal Kryvyi Rih said “This is important to reduce electricity consumption in Krivoy Rog and the safety of personnel, which is our key priority.”

ArcelorMittal Kryvyi Rih added that “The shipment of products to customers is carried out as planned and it hopes to return to the regular work schedule of production equipment after the stabilization of energy supply in the country.”

ArcelorMittal Kryvyi Rih is the largest producer of rolled steel in Ukraine. It specializes in the production of long products, in particular rebar and wire rod.

Bijlage:

voda 13 oktober 2022 07:35

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Gerdau Opens Continuous Casting Facility in Pindamonhangaba Brazil

Global leader in the specialty steel market Gerdau has announced the start of operations for the new continuous casting of blocks and billets at the Pindamonhangaba Plant in Brazil. The equipment, which is already in operation, will allow Gerdau to have a more automated process with better performance, resulting in the delivery of differentiated products and an even higher level of quality for demanding markets. The unit's technological update is in line with future prospects for increasing the array of electric and hybrid vehicles in Brazil.

The inauguration of the new casting takes the Pindamonhangaba Plant to a new level of competitiveness and modernity. With an investment of approximately BRL 700 million, the equipment will bring gains on three fronts: safety, as it is a more automated and modern equipment, Quality, as the new casting will enable the production of clean steel, whose technology it makes the product cleaner and more resistant, increasing its useful life, seeking to meet the demand of the automotive industry for lighter vehicles; and competitiveness, as the new equipment will allow for a reduction in costs and an increase in the productivity of the operation.

Gerdau is also planning a cycle of modernization and maintenance of its special steel operations in Brazil until 2025. Within this plan, which still depends on approvals from the company's board of directors, are investments in maintenance of operations and in technological, environmental and modernization. This plan is divided between the three special steel plants in Brazil: Mogi das Cruzes (SP), Pindamonhangaba (SP) and Charqueadas (RS), with approximately 60% of these investments going to plants in the State of São Paulo and 40% for the operation in Rio Grande do Sul.

In addition to the new continuous casting of the Pindamonhangaba Plant, other investments in special steels have recently entered into operation, within the BRL 1 billion investment plan announced in 2021. In 2021, the Mogi das Cruzes plant had its melt shop reactivated, generating 150 new direct jobs. The plant has been dormant since March 2019 and operates with an annual capacity of around 180,000 tonnes of steel, which is rolled at the Pindamonhangaba plant.

A new annealing and spheroidizing furnace for steel bars was installed at the Charqueadas plant in Rio Grande do Sul, which brings greater quality and productivity to the production process, gains in competitiveness and new concepts of safety for people. This technological update will also allow Gerdau to meet the growing demand for materials with complex heat treatments, mainly in the automotive sector, since there is an increase in the installed capacity for this process.

voda 13 oktober 2022 07:42

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HÄRTHA & EnBW Ink Long-Term Solar Power PPA

Whether in the automotive industry, wind energy business, aerospace sector or in everyday use, components made of hardened steel are needed in many areas. As a leading service provider in the field of hardening and surface technology, the HÄRTHA GROUP improves the load capacity, wear properties and other characteristics of various components. The finishing processes used here are generally very energy-intensive.

North Rhine-Westphalia based HÄRTHA GROUP has been purchasing part of the energy required for this purpose from EnBW’s Maßbach solar park since 1 October 2022. To this end, HÄRTHA and EnBW have signed a 15-year corporate power purchase agreement for the supply of 10 megawatts of solar energy.

EnBW commissioned the 28-megawatt solar park in Bavaria one year ago. The company realized around two thirds of this, 18.3 megawatts, without funding under the Renewable Energies Act. The HÄRTHA GROUP GmbH secured part of this solar energy, which is freely available on the market.

The HÄRTHA GROUP is a successful group of companies founded in 1990. Based in Aldenhoven, the company is one of Europe’s leading providers of metal finishing services using heat treatment processes and coating solutions. HÄRTHA employs around 400 people across 10 sites in Germany, Italy and the Netherlands. HÄRTHA is committed to production processes that are easy on resources and uses the most efficient and state-of-the-art plant technology.

voda 13 oktober 2022 07:42

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JSPL’s Jindal Panther is Brand Partner for Odisha Football Club

Odisha Football Club has announces its partnership with Jindal Steel and Power along with its retail brand Jindal Panther as the club’s official brand partner for the upcoming seasons of the Hero ISL. The iconic branding of JSP’s Jindal Panther will feature prominently on the club’s all three jerseys. Odisha FC begins its season on 11th October 2022 in an away fixture match against Jamshedpur FC and will feature the club’s jersey with the iconic branding of JSP’s Jindal Panther.

JSPL Chairman Mr Naveen Jindal said “We draw inspiration from Biju Babu’s vision for Odisha. The Hon’ble Chief Minister’s leadership and robust roadmap make us all the more committed to the state. We are delighted to partner with Odisha FC for the upcoming season of the Hero Indian Super League. Odisha’s youth have a lot of potential, in sports like football. We aim to promote this great game and nurture the young talent of Odisha through this association. I wish Odisha Football Club with JSP’s Jindal Panther as its brand partner a wonderful season ahead.”

Odisha Football Club is an Indian professional football club based in Bhubaneswar in Odisha that competes in the Indian Super League, the top flight of Indian football. Prior to the inaugural Indian Super League season, the club was founded as Delhi Dynamos Football Club.

voda 13 oktober 2022 07:43

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Cleveland-Cliffs & USW Ratify Wage Pact for 12,000 Union Members

US’s leading steel maker Cleveland-Cliffs announced that its new labor agreement with the United Steelworkers has been ratified. The contract covers approximately 12,000 USW-represented employees at 13 operating locations and has 4 year duration from its starting date of 1 September 2022. Combined with the previously ratified labor agreement covering 2,000 USW-represented employees at the Company’s mining and pelletizing operations, Cliffs and the USW have concluded the renegotiating cycle with contracts valid through September of 2026.

Cleveland-Cliffs Chairman, President & CEO Mr Lourenco Goncalves said “Cleveland-Cliffs is a people oriented company. These labor agreements, covering more than half of our entire workforce, support that statement. Our workforce has made these past two years possible, including navigating a monumental transformation and growth, overcoming the challenges of a pandemic, and adapting to an ever-changing business climate. Going forward, we will continue to promote our employees’ well-being as the basis of our success, for the benefit of our clients and our long-term shareholders.”

Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cliffs also is the largest manufacturer of iron ore pellets in North America. The Company is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling, and tubing. We are the largest supplier of steel to the automotive industry in North America and serve a diverse range of other markets due to our comprehensive offering of flat-rolled steel products. Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs approximately 27,000 people across its operations in the United States and Canada.

voda 13 oktober 2022 07:43

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Dimeca Orders Scrap-Treatment Plant from Danieli

North America’s steel scrap processors Distribuidora de Metales y Cartones has contracted Danieli to supply a new, complete scrap-treatment plant. To be installed in northern Mexico and consisting of a Danieli Centro Recycling pre-shredder, shredder and ferrous and nonferrous downstream line, the plant will process about 140,000 tonnes per year of scrap, calculated for one-shift operation, for the local minimills.

The installation will include a ZDS 250-800 pre-shredder with the possibility to feed pre-processed material automatically to a downstream shredder. The heavy-duty shredder will have a production capacity up to 70 tonnes per hour and will be equipped with the Danieli Automation patented, variable-frequency inverter drive which has proven to be the best solution to increase motor efficiency and optimize energy consumption.

An off-line metal processing plant for further non-ferrous material separation will complete the supply, granting the highest flexibility and efficiency to the process and fitting Dimeca high-quality standards and vision.

The commissioning of the new plant is scheduled for end of 2023.

voda 13 oktober 2022 07:43

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Padma Bridge in Bangladesh is Longest Spanning the Ganges

Worldsteel in an article wrote that the 6 km-long steel-built Padma Bridge is a game-changer for Bangladesh, connecting 21 southwestern districts to the capital of Dhaka and boosting the country’s economy. The Padma River is a sprawling major distributary of the Ganges, which originates in the Gangotri glacier in the Himalayas before flowing through India into Bangladesh and emptying into the Bay of Bengal.

One of the most frequented waterways in the world, the Padma has a very wide riverbed which splits in multiple channels dotted with shifting islands and sand banks. While traversable all year round, the rainy season makes it increasingly difficult for river vessels to navigate. During heavy downpours this could essentially isolate the Bangladesh’s entire south-west from the nearby capital and the rest of the country for all but the bravest and most skilled of travellers.
With this in mind, the Bangladeshi government embarked on a massive infrastructure drive to ensure safe, year-round crossing of the Padma, as well as connecting road and rail networks to improve access to and from the southwest.

Constructed at a cost of USD 3.6 billion, the Padma Bridge is 22m wide and 6.15km long, making it the longest spanning the Ganges. It comprises a two-level steel truss bridge that supports a four-lane highway on its upper level and a single-track railway on its lower. The bridge doesn’t just provide rail and road connections, it also carries vital utilities, with telecommunications lines and stainless steel high-pressure gas pipes fitted along its length. There are even plans for the bridge to house seven 400kv steel-latticed interconnector towers so that it can carry electricity.

The bridge’s structure is made up of 41 connecting spans of 150m in length. These are supported on 42 piers whose foundations are formed of 262 high-strength steel piles. These 3m diameter steel tubes are driven up to 100m into the earth so that they can support the bridge’s massive length as well as the weight of road and rail traffic. This steel core means that the piers and their foundations are able resist every conceivable strain, from liquefaction of the riverbed to impacts from river vessels, all the way up to earthquakes – a vital aspect in seismically active Bangladesh, which sits at the at the meeting point of multiple active tectonic plate boundaries.

voda 13 oktober 2022 07:43

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AIC Completes Phase 1 Revamp of SS Bar Mill at Cogne Acciai Speciali

Italian automation technology provider AIC after the annual stoppage, interventions of the Cogne Acciai Speciali’s TB bar mill in Aosta were successfully completed and work involved the 8 existing stands 3-6 and 9-12 before schedule. Principal issues concerned obsolete equipment and TB dependability; thus the upgrade involved the drives and motors and the integration of the renovated Siemens SINAMCIS S120 800kW modules. The dismantling of old switchboards& transformers and repositioning of upgraded models clears the way for more precise equipment management.

The revamping occurred before the deadline and ran smoothly thanks to AIC team resilience and adaptability to events and to the existing PLC- connected to 2 different suppliers with different standards (S5 and S7).

Phase 2, scheduled for 2023, will see the completion of work for an additional 6 stands in order to guarantee total flexibility for the entire rolling production potential and even greater performance.

Cogne Acciai Speciali is a world leader in stainless steel long products. The company comprises a steel mill, the forge, a hot rolling mill and a finishing area. The production area is equipped with: EAF, UHP, AOD converter, RH degassing, continuous casting, rolling mill, rod rolling mill and finishing facilities. Cogne Acciai Speciali specialises in top quality products such as bars, blooms, billets and wire rods etc.

AIC Capitanio Tailored Automation is a global system integrator that designs, manufactures and commission’s turn-key plants worldwide, providing advanced and tailored automation and mechatronics solutions for the steel industry, with the aim to continuously improve efficiencies, competitiveness and safety of the production processes. With more than 1500 applications worldwide and more than 45 years of history, AIC can boast a unique experience in both greenfield and revamping projects, especially in meltshops and long products rolling mills.

voda 13 oktober 2022 07:44

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British Steel Auditor Mazars Resigns over Fee Disagreement

The Guardian reported that British Steel’s auditor Mazars has resigned as the troubled Chinese-owned steelmaker had balked at the fees it quoted to sign off the company’s books for this year and was refusing to compensate it for difficulties with the previous year’s audit.Mazars did not say what fee it had proposed but it was paid GBP 323,000 for its work on the company’s audit in 2020, a year in which British Steel reported revenues of GBP 844 million but suffered heavy operating losses.

Mazars said “That year’s audit, the first since British Steel was bought by the Chinese firm Jingye, proved trickier than expected. Based on our understanding of the complexity, risk and control environment of the company gained from our prior year audit, we proposed the minimum fee we believed necessary to audit the financial statements of the company to an acceptable level of audit quality. Despite extended discussions, the company was not prepared to agree to that minimum fee level. Furthermore, to date, the company has also not agreed to pay requested overruns for delays and audit issues arising during the prior year audit. Consequently, we have resigned as auditor to the company.”

A British Steel spokesperson said “Following a tendering exercise, we have appointed another firm to act as our auditors.”

voda 13 oktober 2022 07:44

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NORDWEST Steel Association’s Together Again At Last Held Bavaria

Phoenix steel association of NORDWEST Handel held a meeting themed “Together again at last” on 15 & 16 September 2022 in Bad Gögging in Bavaria and was attended by around 200 guests. A special highlight of the steel network meeting was the presentation of the sustainability prize to the specialist trade and supplier partners.

Winner on retail partner page:
Kerschgens Materials & More GmbH
Friedrich Kicherer GmbH & Co. KG
JN Kreiller KG

Awarded suppliers:
Duferco Travi
Feralpi steel
Marcegaglia

An independent jury consisting of Oliver Ellermann, BDS, and Andreas Schneider, Stahlmarkt Consult, viewed the numerous submissions in advance. Criteria such as the strategic importance, transparency of the benefits presented and the measurability of the success of the objectives are included in their evaluation. Three specialist trade and supplier partners each fulfilled all aspects in full and were happy about the sponsorship of a piece of beech forest in the Eifel and a wild meadow mixture.

voda 13 oktober 2022 07:44

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Reliance Steel Appoints Ms Karla R Lewis as Chief Executive Officer

Scottsdale Arizona headquartered Reliance Steel & Aluminum announced that Mr James D Hoffman has announced his intention to step down as Chief Executive Officer on 31 December 2022 and further that the company’s Board of Directors has unanimously appointed Ms Karla R Lewis to succeed Mr Hoffman as CEO effective 1 January 2023. Mr Hoffman will remain on Reliance’s Board of Directors and will continue in his role as CEO through the end of 2022, after which he will serve as Senior Advisor to the CEO until his retirement in December 2023.

Ms Karla Lewis joined Reliance in 1992 as Corporate Controller. She served as Chief Financial Officer from 1999 until January 2021, and was promoted to Senior Vice President in 2000, Executive Vice President in 2002 and Senior Executive Vice President in 2015. She was appointed a director and President of Reliance in January 2021. Mrs Lewis will retain her current position as President, serving as Reliance’s President and CEO upon her promotion.

Founded in 1939, Reliance Steel & Aluminum is a leading global diversified metal solutions provider and the largest Metals Service Centers Company in North America. Through a network of approximately 315 locations in 40 states and 12 countries outside of the United States, Reliance provides value-added metals processing services and distributes a full-line of over 100,000 metal products to more than 125,000 customers in a broad range of industries.

voda 13 oktober 2022 07:44

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Stainless Steel Scrap Prices & Demand Hit by Reduced Production

BIR World Mirror on Stainless Steel & Special Alloys Quarterly Report October 2022 highlights that “Sales prices for stainless steel have fallen more rapidly than ever before in Europe amid tepid demand and record levels of imported finished goods, according to the latest World Mirror produced by the BIR Stainless Steel & Special Alloys Committee. Faced with plenty of finished product in stock, producers are implementing some of the lowest capacity utilization rates ever known and are even laying off workers in some instances. Under these circumstances, both demand and prices for stainless scrap remain very low, especially as operators have expensive raw materials still in stock. As a result, many scrap sellers have looked to export scrap, including to Asia.”

Likewise, softening market conditions in the USA have prompted stainless scrap sellers to explore other markets in recent months. Latest trade statistics from the Commerce Department reveal that the USA exported more than 253,000 tons of stainless steel scrap in January-July of this year for a 67% increase over the corresponding period in 2021. Notable outlets included India, Mexico, Canada and Germany.

Conditions for US scrap processors and dealers are continuing to be complicated by tight labour markets and uncertain transportation networks. Declining container rates are indicative of gradually improving availability, but there are ongoing shortages of trucks and truck drivers.

In Asia, meanwhile, demand for stainless steel remained on a downtrend in the third quarter and the outlook for the rest of the year is unpromising. Typhoon-related flood damage halted production at Posco’s Pohang stainless melt shop in South Korea, prompting buyers of stainless products to switch to other mills in the region and leaving approximately 25,000 tonnes per month of stainless scrap trying to find another home at a time when many mills are likely to be more cautious in their raw material purchasing.

As reported previously, India has imposed a 15% export duty on finished stainless products, thereby slowing demand for scrap imports. Furthermore, India has begun to import slabs on a monthly basis, thus undermining the volumes of scrap that are usually brought in from abroad. The country’s scrap importers have also been hit by the weakness of the Indian rupee in relation to a strong US dollar.

In China, stainless scrap demand is healthy owing to its current price advantage over nickel pig iron. And in what constitutes a rare event over the last two or three years, there have even been some imports of stainless scrap into China from Europe.

In other developments, the UAE has extended a ban on exports of steel scrap, including stainless. This is affecting material flows to key buyers such as India and Pakistan.

voda 13 oktober 2022 07:45

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TimkenSteel’s Expects Lower EBITDA in Q3 over Melt Shop Incident

Canton Ohio headquartered specialty steel maker TimkenSteel announced that “The end of July incident at our melt shop, which resulted in approximately one month of melt shop downtime and a subsequent slower than expected ramp up, significantly impacted our profitability for the third quarter. As a result, we expect third quarter adjusted EBITDA to be in the range of approximately USD 9-12 million. The company anticipates a significant recovery on its business interruption insurance related to the incident. The insurance recovery process is ongoing and nothing has been recorded at this time.”

TimkenSteel President & Chief Executive Officer Mike Williams said “We are encouraged that demand remains strong across our end markets with a customer order backlog in excess of 300,000 ship tons, the majority of our production capacity allocated to customers in 2023, and positive momentum in base pricing. As we continue to conservatively ramp up melt production in the fourth quarter, we remain focused on safety and the execution of our strategic imperatives to drive sustainable through-cycle profitability. I am confident that we remain well-positioned for the long term, and I thank our customers for their patience and continued trust in TimkenSteel.”

TimkenSteel manufactures high-performance carbon and alloy steel products from recycled scrap metal in Canton in Ohio serving demanding applications in mobile, energy and a variety of industrial end markets. The company is a premier US producer of alloy steel bars (up to 16 inches in diameter), seamless mechanical tubing and manufactured components. In the business of making high-quality steel for more than 100 years.

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