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voda 17 augustus 2017 17:12

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China implements sanctions on North Korea

Agencies reported that CHINA is halting imports of iron, iron ore and seafood from North Korea from today, in accordance with new UN sanctions over Pyongyang’s nuclear program. The decision was announced yesterday after days of increasingly bellicose rhetoric between US President Donald Trump and North Korea, which raised international alarm over where the crisis is headed.

China’s Ministry of Commerce said on its website that all imports of coal, iron, iron ore and seafood will be “completely prohibited” from today.

A suspension of coal imports was announced in February.

On August 6, the United Nations Security Council approved tough sanctions that could cost North Korea USD 1 billion a year.

The sanctions were in response to two intercontinental ballistic missile tests last month, after which North Korea boasted it could now strike any part of the United States.

Chinese Foreign Minister Wang Yi vowed after the UN sanctions were given the green light that China “will for sure implement that new resolution 100 percent, fully and strictly.”

Regional tensions have mushroomed in the past week as Trump warned North Korea it would face “fire and fury” if it attacked the United States while North Korea threatened to test-fire its missiles toward the US Pacific island of Guam.

The war of words sparked global concern, with world leaders, including Chinese President Xi Jinping, urging calm on both sides.

South Korean President Moon Jae-in, who has previously advocated dialogue with North Korea, yesterday joined the calls for restraint.

Moon called for an end to “all provocations and hostile rhetoric immediately, instead of worsening the situation any further.”

Moon told a regular meeting with senior aides and advisers that “There must be no more war on the Korean Peninsula. Whatever ups and downs we face, the North Korean nuclear situation must be resolved peacefully.”

He said that “I am certain the United States will respond to the current situation calmly and responsibly in a stance that is equal to ours.”

However, North Korea reiterated its threats, with its official KCNA news agency saying that “war cannot be blocked by any power if sparks fly due to a small, random incident that was unintentional.”

Source : Shanghai Daily

voda 17 augustus 2017 17:18

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Iron ore production increased by 10.5% in January-July in Kazakhstan

KazTAG reported that production of iron ore in Kazakhstan amounted to 22.39 million tonnes in January to July 2017, 10.5% up year on year.

According to statistics committee of the Ministry of National Economy, the volume of copper ore production amounted to 56.946 million tonne (+32.9%), gold containing ore- 10.466 million tonne (-1%), chrome concentrate- 2.627 million tonne (+11.2%).

Source : Kaztag

voda 18 augustus 2017 14:55

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Indian steel makers earnings to be steady or improve - Moody's

Moody's Investors Service said that Indian steel makers' earnings will be stable or rise in the next 12 months on the back of rising domestic demand and protectionist measures as it changed the outlook for Asian steel industry to stable from negative on expectation that profitability will remain steady. It said "We expect operating conditions in India to be the most supportive among major steel producing Asian countries. The earnings of the two rated Indian steel companies will remain steady (JSW Steel) or increase significantly (Tata Steel) during the coming 12 months, owing to robust domestic demand and protectionist measures."

This expectation comes despite an increase in raw material prices and higher production volumes arising from new capacity additions, it added.

Healthy GDP growth of 7.5-7.8 per cent during 2017 and 2018 as well as the Indian government's measures related to fiscal stimulus and rising infrastructure spending will underpin the demand, the statement said.

Source : Strategic Research Institute

voda 18 augustus 2017 14:57

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Chinese Sunrise Group forms Chromeni Steels JV to set up steel plant at Mundra

Times of India reported that China based Sunrise Group is slated to set up a steel manufacturing plant at Mundra in Kutch. The Chinese steel maker has partnered with an Ahmedabad based entity to form a joint venture company Chromeni Steels Private Limited -for the project. Chromeni Steels plans to set up a greenfield steel plant at Mundra with an initial investment of INR 6,000 crore, which may be scaled up to INR 10,000 crore.

Sunrise Group had signed an MoU for the plant with the Gujarat government at the Vibrant Gujarat Summit in January 2017.

Chromeni Steels was registered as a private limited company in Ahmedabad in June 2017. It is a subsidiary of Sunrise Group with authorized capital of INR 195 crore and paid up capital of INR 39.6 crore.

Sources said the company has acquired 213 hectares of land in Rapadiya and Kundardi villages of Mundra block in Kutch.

Source : Times of India

voda 18 augustus 2017 15:01

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Victoria BF at British Steel back in business

Scunthorpe Telegraph reported that the Scunthorpe British Steel works is back in business as a two blast-furnace operation. It has confirmed the Queen Victoria furnace is again producing iron for the steel making process.

Production at the 63-year-old Victoria ceased at the end of June due to a technical issue. Since then the sister furnace Queen Anne has been operating at full capacity to ensure the supply of quality iron was not disrupted. Both Anne and Victoria are capable of producing one and half million tonne of iron per annum.

A spokeswoman said: “We can confirm that Queen Victoria blast furnace is back operating at full capacity following a technical isue suffered at the end of June. “During the period she was off-line our Queen Anne blast furnace continued to ensure a good supply of quality iron for steel-making.”

Source : Scunthorpe Telegraph

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voda 18 augustus 2017 15:04

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Vietnam steel consumption in 7 months up by 14.5pct

Biz Hub reported that Vietnam domestic steel consumption in the first seven months of 2017 rose 14.5% from the same period last year to 5.14 million tonnes. Viet Nam Steel Association said that by the end of July, steel inventory was 530,306 tonnes, reducing 19 per cent from the previous month.

Construction steel output last month was 780,000 tonnes, increasing 24 per cent from the corresponding period last year and 7 per cent higher than the previous month.

Export of construction steel reached 541,377 tonnes, posting a year-on-year increase of 75 per cent.

According to the association, in recent years, many local steel producers have yielded high revenue and profit, although steel consumption has witnessed difficulties.

Viet Nam is considered one of the largest steel producers in ASEAN since 2015. Hung Nghiep Formosa Ha Tinh Steel Corporation has been able to produce hot rolled steel, reducing the annual import of steel from June 2017.

VSA also said Vietnamese steel producers had had to adjust prices due to the surge of steel billet. In particular, steel plants in the north increased their selling price by four times while those in the south increased it by three-four times.

In addition, the increase in demand and subsequent shortage of coal for steel production has contributed to the price rise.

It is expected that the steel billet prices will remain high at VND10,500-10,700 per kilo in the future, resulting in higher steel prices this month.

Source : Biz Hub

voda 18 augustus 2017 15:06

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Hamriyah Steel to supply steel reinforcement bars for construction of world's tallest skyscraper

14 August 2017

UAE based steel-rolling mill Hamriyah Steel (Sharjah, UAE, part of Metalloinvest) has been shortlisted to supply steel reinforcement bars for the construction of The Tower at Dubai Creek Harbour (Dubai, UAE), an iconic skyscraper project.
Hamriyah Steel has signed contract with Emirates Rebar Factory, a leading UAE based steel fabrication factory, to supply reinforcement bar for the prestigious The Tower project. Under the contract, the first delivery of 3,000 ton of steel reinforcement bars, is planned for August 2017.

Scheduled to complete in 2020, The Tower would be world’s tallest skyscraper measuring 928 metres, surpassing height of existing tallest building Burj Khalifa.
Hamriyah Steel has started production in 2010 with a planned annual capacity of 1 mn tons. The rolling mill is designed to manufacture reinforcement bars in diameter 10-40 mm. According to market requirement, Hamriyah Steel has planned to manufacture reinforcement bars in diameter 8mm in Q4 of 2017. The mill is focused to supply its entire production in UAE market.

www.metalloinvest.com/en/media/press-...

voda 18 augustus 2017 15:13

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Vale to speed up listing in strictest Brazil market

Reuters reported that Vale SA's stock conversion plan could lead the world's No. 1 iron ore producer to speed up the listing of common shares in Brazil's strictest market to lure a broader investor base. Chief Executive Officer Fabio Schvartsman told investors in a conference call that the conversion plan, which ended last week, was "a success." A total 1.66 billion Vale preferred shares, or 84.4% of that class of stock in circulation, joined the plan, topping a minimum 54.09% threshold.

Chief Financial Officer Luciano Siani said that Vale was not considering cash incentives to buy back stock from investors who did not swap their preferred shares into common ones.

The executives said that while the company expected to join the Sao Paulo Stock Exchange's Novo Mercado, the bourse's strictest chapter, by 2020, the move could come as early as this year.

By merging Vale's different classes of stock into a single, common one, the company may become more attractive to Asian investors and specialized mining and metal investment firms, Siani told the Reuters Latin American Investment Summit last week.

Mr Schvartsman said that "We are working with our legal advisers to do the Novo Mercado listing as quickly as possible.”

The new share structure represents a milestone in a country long hobbled by corporate governance abuses and reorganizations that hampered minority investors. Reuters reported the plan on Jan. 19, citing people familiar with it.

The plan limits politicians' involvement in Vale, something that weighed on the company's stock during former President Dilma Rousseff's five years in office. Still, the government will keep a golden share, allowing it to fend off hostile takeover attempts and shape strategic decisions.

Source : Reuters

voda 18 augustus 2017 15:17

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Black Iron Inc back to business in Ukraine

Mr Matt Simpson chief executive of Black Iron Inc told Proactive's Andrew Scott about restarting operations in Ukraine at their wholly owned Shymanivske iron ore project.

Mr Simpson said that ''Iron ore prices have rebounded quite nicely, they've held in there for over a year now and everything's looking like it'll only push up.” He added that ''We've got political stability ... coupled with a very depressed exchange rate ... so this is the ideal time for investors to get in and really ride that wave. 'We've done it once and we're going to do it again - this time we're going to build it''.

Source : Proactive Investors

voda 21 augustus 2017 16:37

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Kyoei Steel to build a reinforcing bars plant in Vietnam

Nikkei reported that Japanese steelmaker Kyoei Steel will build a plant for reinforcing bars in northern Vietnam for about 21.8 billion yen (USD 200 million), revisiting stalled plans in order to both boost output capacity and cut down on costs. As per report, construction will begin by the end of the year, with the rolling mill slated to come online in 2019 and the steelmaking facility in 2020.

The Osaka-based company began planning a new steelmaking and rolling facility with an annual output capacity of 500,000 tonnes back in 2012, when it acquired the operations in Vietnam. But it suspended all new construction in 2014 amid a tougher market.

Kyoei Steel currently can only roll steel in Vietnam. It processes steel billets purchased from the outside into bars and other products. But market conditions in China have led to an increase in billet prices. By also handling production in house, the electric-furnace steelmaker hopes to cut production costs.

Source : Nikkei

voda 21 augustus 2017 16:38

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Nam Kim Steel to invest in USD 97 million in a HDG steel plant in Vietnam

Biz Hub reported that Nam Kim Steel Joint Stock Company has approved a report on the pre feasibility study, conducted for setting up a steel sheet factory in the southern province of Ba Ria-Vung Tau. As per the plan, the plant will require an investment capital of VND 2.2 trillion (USD 97 million) and have the capacity to produce 800,000 tonnes per year.

The factory will produce galvanised steel sheets, galvanised aluminium sheets, zinc-coated aluminium-coated sheets, zinc-coated sheets, steel pipes, steel boxes, sections and products from steel coil, cold-rolled steel, galvanised steel, black steel tape and galvanised steel tape.

Nam Kim Steel JSC’s board of directors has authorised Ho Minh Quang, chairman of the BOD, to determine a location in the southern province for the project, based on the scale of production and business activities, and to sign land lease contracts and contracts related to infrastructure investment.

In the first six months of 2017, Nam Kim Steel posted an output of 380,000 tonnes, a year-on-year increase of 7%. Specifically, its output of iron and steel products went up by 21% compared to the same period last year. The firm’s turnover touched VND5.5 trillion, up 38%, while its after-tax profit was VND 350 billion, up 14% year on year and accounting for 58.3% of its target for the entire year.

Source : Biz Hub

voda 21 augustus 2017 16:39

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Iran to boost billet supply to domestic market

Financial Tribune reported that Iranian government has asked domestic steel mills to allocate more billets to the domestic market where demand has increased significantly. A source in Tehran said that the request had been made, but said there was no immediate talk of banning billet exports. The sources said that officials from major steel producers, the Iran Mercantile Exchange and the producers’ association had attended a meeting organized by the Minister of Industries, Mining and Trade Mohammad Reza Nematzadeh to discuss the impact of billet price increases in the domestic market.

ISPA Vice President Hamidreza Taherizadeh was quoted as saying by Chilanonline that “The country’s steel industry has been instructed to allocate at least 50% of output to the domestic market through IME, and with a base price of an average of three international market indices. Exports will continue, although domestic demand will be a priority for billet producers. Re-rollers were waiting for the billet to become available and were also ready to import if the import duty on billet was removed and domestic producers were unable to cover their requirements.”

The import duty on billet is currently 15% and a 9% VAT is also payable.

The market reacted very quickly to the latest news. The Iran Mercantile Exchange said 5,000 tons of Khouzestan Steel Company’s billet were traded on the exchange on Wednesday at 19.8 million rials ($600/ton), down 3.4% from Monday.

It is not yet clear whether the billet import duty will be removed. Such a measure would take three to four weeks to be put into place, one market player in Tehran suggested.

Source : Financial Tribune

voda 21 augustus 2017 16:39

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WTO mixed ruling in Indonesia steel import duties case

Reuters reported that duties imposed by Indonesia on imports of certain flat-rolled iron or steel products do not constitute WTO safeguard measures, a World Trade Organization panel said rejecting the key argument of complaints brought by Taiwan and Vietnam. The panel found that Indonesia's duty did not amount to a safeguard measure because it did not result in suspending, withdrawing or modifying any of Jakarta's commitments under the GATT 1994 Agreement on Safeguards.

However the WTO panel, ruling on the two cases brought in 2015, found Indonesia violated its duty to afford most-favored-nation treatment to imports of galvalume, used in cars and roof insulation, from all sources with the exception of 120 developing countries listed in its notification to the WTO.

The three countries in the dispute have 60 days to appeal.

Safeguard duties are emergency tariffs that a country can impose temporarily to shield a specific sector from a sudden and damaging surge in imports.

Source : Reuters

voda 21 augustus 2017 16:41

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China will allow some steel & non-ferrous imports

CIWM Journal reported that China will still allow imports of some kinds of steel and non-ferrous scrap metal as it outlined the first details of its ban on waste imports. According to reports by Reuters, the Chinese Ministry of Environmental Protection has revealed what materials it intends to be listed in the ban. The banned waste reportedly excludes some scrap metals, including steel, copper, nickel, aluminium, zinc and tin.

Steel, copper and aluminium scrap from automobiles, ships and electronic devices have been listed under the “limited import” category. What “limited” means is yet to be clarified.

The MEP said that mining waste containing non-ferrous metals will be categorically banned from imports, since China has sufficient domestic resources. Other items that will be completely prohibited include tyres, textiles, plastic, glass and “old medicines.”

The ministry said that from August, the MEP will carry out inspections targeting the recycling of old electronic devices, tyres, plastic, cloth and home appliances, including collecting stations and processing factories.

The MEP said the import ban will take effect as early as the end of 2017.

Mr Qiu Qiwen director at the Soil Environment Management Department of the MEP said that “The current recycle system in China is insufficient to meet the demand from waste processing industry. The inspections will help to eliminate excess capacity and improve the infrastructure of the recycling industry.”

The Chinese Government announced in July that it intends to ban the import of all scrap plastics and unsorted paper by the end of the year.

In response, Four Government Ministers have received a joint letter from The Recycling Association and Confederation of Paper Industries requesting “high level diplomacy” regarding the Chinese ban.

Last year, the country imported 2.16m tonnes of scrap steel and 5.28m tonnes of scrap copper, aluminium and zinc.

Source : CIWM Journal

voda 21 augustus 2017 16:49

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Decmil wins BHP iron ore contract

The Australian reported that Perth-based engineering and construction group Decmil has been awarded a AUD 13 million contract with BHP Billiton Iron Ore to conduct initial works at the South Flank project in the Pilbara region of Western Australia.

The contract includes civil and enabling works for the expansion of the Mulla Mulla village, which is required to support both current operations at Mining Area C and the South Flank project, subject to approvals.

Decmil currently has project teams at a number of major WA iron ore projects and has worked as a contractor to the sector for almost 40 years.

The contract win follows from Decmil being appointed the preferred contractor for the supply of modular prison cells for the New Zealand Department of Corrections earlier this month.

Source : The Australian

voda 21 augustus 2017 16:50

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Supreme Court stays C-category iron ores mine auction in Karnataka

City Today reported that asking the Karnataka government to disclose the list of C-category iron ore mines that are no longer economically viable, the Supreme Court on Wednesday said they can be closed down rather than their boundaries redrawn and auctioned. As per report a bench headed by Justice Ranjan Gogoi further clarified that until the list of C-category mines was submitted to it; there would be no further auction of such mines in the state.

Senior Counsel Raju Ramchandran, appearing for the state government had sought to amalgamate various C-category mines in order to make them economically and commercially viable. He said that “Twenty out of 51 C-category mines can be closed straightaway as they are not commercially viable for exploitation.”

The apex court in 2013 had directed Karnataka to cancel 51 C-category leases for involving in rampant illegal mining and re-allot them to end users through a transparent bidding mechanism. The state government had in January last year announced an e-auction of 11 of the 51 C- category mines.

The apex court banned mining of iron ore in Karnataka in July 2011 following allegations of illegal mining that had resulted in large scale abuse of the environment.

The Supreme Court on April 18, 2013 had allowed mining in the state but with the cap of 30 million tonnes per annum. It added that mining should be only through e-auctions and subject to monitoring by the Commission for Environmental Cooperation (CEC). It had then also ordered several measures to prevent environmental damage due to mining.

Later, steelmakers had filed an application seeking the apex court to increase iron ore mining cap to 40 million tonnes per annum.

The apex court had also agreed to consider lobby group Federation of Indian Mineral Industries’s plea to scrap Karnataka iron ore e-auction system. It also asked the Karnataka government for an alternate system for Karnataka iron ore sale. FIMI had said the e-auction process for selling iron ore in the state should be stopped now as it was introduced by the Supreme Court’s order as a temporary measure to tackle the situation prevailing in 2013.

After the amendment of the MMDR Act in 2015, the mining regime has significantly changed and thus the system of e-auction needs to end as it acts as an impediment to long-term contracts and mineral resource development in the state it added.

Even CEC had recommended long-term contracts for Karnataka iron ore sale. As on date, 32 mines have been allowed to operate in Bellary and Chitradurga, with an annual production capacity of 29.198 million tonnes (MT) of iron ore and 0.2614 MT of manganese.

Source : City Today

voda 22 augustus 2017 16:37

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Steel mills warming to LME steel scrap & rebar contracts - Report

Reuters reported that many steel mills, which had largely shunned using steel futures, are becoming more open to hedging and have been experimenting with London Metal Exchange contracts in recent months. The LME's steel scrap and rebar contracts have steadily gained volumes since their launch in November 2015, but traders and merchants had been the most active users while steel makers were against the contracts.

Reuters they would not be using the contracts, while others such as Germany's ThyssenKrupp had said they would take a wait-and-see approach.

Mr Alberto Xodo, deputy head of LME ferrous, told “There has been a fundamental shift in the attitude of steel mills. In recent months our client base has expanded to include even the more conservative participants of the value chain, like the steel mills."

He said "Given the very high volatility of steel prices in recent years, many of them steel mills are now exploring ways to integrate hedging in their operations. We have already seen mills from several countries making enquiries around hedging steel prices with LME futures and many are even dipping their toes by doing test trades."

Mr Xodo added that the LME had received requests to launch other ferrous contracts, especially in hot rolled coil and this was included in a wide-ranging LME discussion paper. The results of the discussion paper are due to be released next month.

August is set to mark record volumes, with 229,110 tonnes of scrap and 50,600 tonnes of rebar traded in the first half of the month. Those half-month tonnages for August were close to the full month totals for July, which were 259,040 tonnes of scrap and 52,210 tonnes of rebar. The July volumes represented a surge of 42% and 66% respectively from June.

The success of the LME contracts is in stark contrast to the previous LME physically-delivered steel billet contract, which the LME scrapped in April after failing to trade since June 2015. One reason the new contracts have gained momentum is because they are monthly and cash-settled.

Source : Reuters

voda 22 augustus 2017 16:40

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RINL hopes to turn EBITDA-positive by fiscal end - Mr Madhusudhan

Rashtriya Ispat Nigam Ltd., the corporate entity of Visakhapatnam Steel Plant, is hopeful of returning to the cash profit zone this fiscal, on the back of improved demand conditions. Business Line quoted Mr P Madhusudan CMD of RINL as saying that Visakhapatnam Steel Plant is looking to turn EBITDA positive by the end of current fiscal (2017-18). On a cumulative basis the company is still EBITDA negative; it has been able to report positive EBITDA for the month of July. Mr Madhusudan said that "We hope to turn EBITDA positive by the end of current financial year.”

He said that product prices, which were lowered in the wake of the disruptions due to GST roll-out, had been increased again in August but sales were good.

There has been a 10% growth in RINL’s saleable steel production between April and July 2017 and turnover increased by 27% to INR 3,915 crore in this period.

RINL made losses for two consecutive years in 2015-16 and 2016-17. Totaling INR 2,657 crore, these losses came after a continuous 12 year profit making stint since 2002-03.

RINL is in the last stages of implementation of a INR12,300 crore expansion program which doubles capacity to 6.3 million tonnes. Capacity will increase by another 1 million tonnes to 7 million tonnes.

Source : Business Line

voda 22 augustus 2017 16:41

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Danieli Centro Cranes to supply eight new EOT cranes to Lech-Stahlwerke rolling mill plant at Meitingen

Lech-Stahlwerke recently awarded Danieli Centro Cranes with an order for eight Electric Overhead Travelling (EOT) cranes (FEM class A7/M7), each with 15t lifting capacity, for its plant in Meitingen, Bavaria, Germany.

Source : Strategic Research Institute

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voda 22 augustus 2017 16:42

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Tokyo Steel raises rebar & sheet pile prices

Reuters reported that Tokyo Steel Manufacturing Co Ltd, Japan's top electric-arc furnace steelmaker will raise its product prices in September by up to 5.4% to reflect strong demand at home and abroad as well as higher materials costs. The company will boost prices of 11 products by JPY 2,000-3,000 (USD 18.3-27.5) per tonne. This is Tokyo Steel's first hike in seven months.

Prices for steel bars, including rebar, will increase by JPY 3,000 or 5.4% to JPY 59,000 (USD 540) a tonne, while prices for U-shaped steel-sheet piles will rise by JPY 2,000 or 2.3% to JPY 90,000 a tonne. Prices for the company's main product, H-shaped beams used in construction, will remain unchanged at JPY 78,000 a tonne, but this represents an actual hike of JPY 3,000 from current market prices which have been below list prices, Imamura said. A similar price hike would apply to three other products selling below list price

Tokyo Steel's managing director Mt Kiyoshi Imamura told reporters that "Overseas steel markets have been strong thanks to China's solid local demand and a continued decline in exports from China. Japan's local market is also getting tight due to falling steel inventories and healthy construction demand from a number of development projects in Tokyo metropolitan areas.”

He added that Tokyo Steel has also faced rising costs of steel scrap, electrode and firebrick as well as higher electricity prices. Mr Imamura said that "If all those conditions continue, we may consider another price hike next month.”

Source : Reuters

Vertraagd	10 feb 2025 17:39
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Volume	3.104.041
Volume gemiddeld	2.536.810
Volume gisteren	7.160.096

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