DeBeurs.nl

voda 2 mei 2019 16:53

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Ships demolition market quietens down - Clarkson Platou

Mr Nikos Roussanoglou of Hellenic Shipping News Worldwide, wrote, things could be set for a lengthy period of subdued activity, when it comes to the market for recycling old ships. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “we may be on the cusp of a change in market direction as the last of the firm prices that have been witnessed in Bangladesh may now be over with yard space and willing buyers locally reportedly diminishing rapidly. The recent stockpiling of tonnage by the Bangladeshi recyclers prior to their budget seems to be reaching a climax on the back of strong predictions in relation to increased import duties expected to be announced. This has also resulted in a change in the Cash Buyers mentality as their confidence in Bangladesh starts to dwindle in what has been the far superior market for several months. Reports suggest that several recent high-profile sales taken by some cash buyers remain unsold to the recyclers as they stand their ground and each new large dry sale seems to be attracting less interest and reduces price levels. Without being too negative, this quiet period descending on the market could well continue for the foreseeable future with the Holy month of Ramadan and Japanese Golden week just over the horizon which may help to stabilize the market sentiment”, the shipbroker said.

In a similar note, Athenian Shipbrokers added that “last week saw most of the sub-cont. recycling market slow down slightly due to Easter holidays in Europe and fears of the upcoming monsoon season. Bangladesh is trying to obtain as much tonnage as possible before its upcoming budget. India also faced some uncertainty due to its upcoming elections and volatile steel prices. Lastly, Pakistan while firming its price offerings and having a slight improvement in its local steel prices is still a long way behind competition, patiently waiting for its opportunity to get back in the game in the next couple of months”.

Meanwhile, in a separate report, GMS, the world’s leading cash buyer of ships said that “as a raft of international holidays ensued across the globe (mostly Easter holidays in Europe), overall, it has been a comparatively quieter couple of weeks on the SNP front, after what has been a hectic year of activity, which was fueled by a healthy dose of speculation that preceded it. This recent slowing was to be expected, with both the monsoon season and the Bangladeshi budget soon upon us. There is also the Indian election to consider – with most in the steel sector / ship recycling industry backing the pro-business Mr. Modi for another term.

Source : Nikos Roussanoglou, Hellenic Shipping News Worldwide

voda 3 mei 2019 15:00

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Strasbourg court approves Ascoval and British Steel deal

Europe1 reported that the High Court TGI in Strasbourg, after four years of incessant twists and turns, approved British Steel’s resumption of the Ascoval steel mill in Saint-Saulve in North France. British Steel will invest EUR 47.5 million into Ascoval, while the French state and local government bodies will invest a further EUR 47 million preserving 270 jobs at the site. The effective date of this sale is set as May 15th 2019. It will allow British Steel to expand in Europe as Brexit concerns weigh on its domestic market.

The rescue deal for Ascoval, a joint venture between Vallourec and Ascometal, was welcomed by British Steel. British Steel Chairman Mr Roland Junck said “The acquisition of Ascoval is part of our ongoing plans to re-establish British Steel as a leader in the steel industry. It complements our current assets and the addition of Ascoval’s Electric Arc Furnace will help secure the growth and jobs of the group, strengthen relationships with key customers as well as open up a strong pipeline of new opportunities by expanding our product portfolio.”

Created in 1975 by Vallourec to manufactures special steel tubes, it became Ascoval in 2017 when Vallourec sold 60% stake to Asco Industries group.

Source : Europe1

voda 3 mei 2019 15:00

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US Steel to invest in endless casting and rolling facility at Edgar Thomson Plant at Mon Valley Works

United States Steel Corporation announced that it will invest more than USD 1 billion to construct a new sustainable endless casting and rolling facility at its Edgar Thomson Plant in Braddock Pa and a cogeneration facility at its Clairton Plant in Clairton Pa, both part of the company’s Mon Valley Works. The cutting-edge endless casting and rolling technology combines thin slab casting and hot rolled band production into one continuous process and will make Mon Valley Works the first facility of this type in the United States, and one of only a handful in the world. The installation of endless casting and rolling technology will give US Steel a world-class asset that will improve the quality and attributes of its downstream products for customers in appliance, construction and industrial markets. With this investment, Mon Valley Works will become the principal source of substrate for the production of the company’s industry-leading XG3™ Advanced High Strength Steel (AHSS) that assists automotive customers in meeting fuel efficiency standards. This project, in addition to producing sustainable AHSS, will improve environmental performance, energy conservation and reduce our carbon footprint associated with Mon Valley Works. First coil production is expected in 2022, contingent upon permitting and construction.

The new endless casting and rolling facility will replace the existing traditional slab caster and hot strip mill facilities at the Mon Valley Works. Current and future employees will enhance their skills with more advanced manufacturing to operate and maintain the new facility through training programs developed in partnership with local universities.

As part of the project, US Steel will also include construction of a new cogeneration facility, equipped with state-of-the-art emissions control systems at its Clairton Plant, to convert a portion of the coke oven gas generated at its Clairton Plant into electricity to power the steelmaking and finishing facilities throughout US Steel’s Mon Valley operations.

Source : Strategic Research Institute

voda 3 mei 2019 15:01

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British MPs join EWC concerns over Tata Steel Europe ThyssenKrupp JV

Business Line reported that British politicians, representing Welsh constituencies, have added their concerns to those expressed by Tata Steel’s European Work Council, over measures proposed by the company to gain the necessary regulatory approval for the ThyssenKrupp joint venture. Their concerns center in particular on the potential sale of the Trostre plant in Wales that produces packaging material and is supplied by the Port Talbot steelworks. Mr Stephen Kinnock, the MP for Aberavon home to Port Talbot met with representatives from the company in April alongside other politicians at which they sought assurances on the future of Trostre and Port Talbot, from which a significant volume of rolled steel goes to Trostre. Mr Kinnock in a statement on Thursday said “The conversation between Tata Steel, myself and other politicians was constructive and illustrated a deep commitment by all parties towards securing the long-term future of steel-making in South Wales. But it is now up to Tata Steel to deliver on these promises, by taking action to ensure production at Port Talbot does not become a victim of the joint venture.”

Ms Nia Griffith, the MP for Llanelli home to Trostre, also said “This is a very worrying time for everyone at Trostre, and that’s why I was anxious to convey our very real concerns about the joint venture, and to stress that if it really does come down to selling off Trostre, then Tata Steel must secure a genuine long-term future for the plant.”

Source : Business Line

voda 3 mei 2019 15:02

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KIOCL, ESI & Star Global sign MoU or iron ore pellet sale

KIOCL Limited informed BSE that it has entered into tripartite MoU with Emirates Steel Abu Dhabi and Star Global Dubai for sale of high grade iron ore pellets to Emirates Steel. As per report “KIOCL could supply around 0.5-1.0 million tonne of pellet to Emirates Steel. The price arrangement has not been finalised yet.”

KIOCL produced around 2.24million tonnes of iron ore pellet in the financial year that ended 31 March. It typically exports around 80% of its production. The company aims to produce 3 million tonne of pellet in 2019-20.

Emirates Steel has 3.5 million tonnes of capacity to produce rebar, wire rod and heavy sections.

Source : Strategic Research Institute

voda 3 mei 2019 15:02

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Mr John V Faraci elected to US Steel Board of Directors

United States Steel Corporation announced that Mr John V Faraci was elected to the company's Board of Directors at Annual Meeting of Stockholders. His term as a Director became effective April 30, 2019. Mr. Faraci served as Chairman and Chief Executive Officer of International Paper from 2003 to 2014. During his 40 year career at International Paper, Mr Faraci served in a series of financial, planning and management positions, including President and Chief Executive Officer and Chief Financial Officer. Mr Faraci is also a member of the board of directors of ConocoPhillips, PPG Industries Inc and United Technologies Corporation. He also serves on the board of the National Fish and Wildlife Foundation, is Chairman of the Board of Trustees of Denison University, a member of the Royal Bank of Canada Advisory Board, a trustee of the American Enterprise Institute, and a member of the Council on Foreign Relations.

Mr. Faraci graduated from Denison University with a degree in history and economics. He received his Master of Business Administration from the University of Michigan’s Ross School of Business. Mr Faraci is currently an Operating Partner with Advent International.

Source : Strategic Research Institute

voda 3 mei 2019 15:03

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Danieli starts hot trials at Danieli Universal Endless plant of Shougang Jingtang

Hot testing has begun for the innovative Danieli Universal Endless (DUE®) plant of Shougang Jingtang United Iron & Steel Co Ltd in Caofeidian in China. For the first time ever, coil-to-coil and endless, thermo-mechanical and multi-phase, ultra-thin and thick products all will be possible in a single production line, making both value-added niche products as well as commercial-grade products. Shougang Jingtang’s DUE® plant will produce 2.1 million tonnes in a wide mix of steel grades and strip dimensions from 0.8 to 12.7 mm thickness and widths from 900 to 1,600 mm.

In mid-April the hot test of the caster area started as per schedule, and within a few days several heats of LC and MC grades had been cast. The target was achieved as per the SGJT plan, producing 110-mm thick, 1420-mm wide slabs. By the end of April, the mill also started rolling tests. This startup represents a milestone in modern flat products production.

The DUE® layout configuration, together with effective and optimized energy consumption, now represents the most extensive application of Danieli’s concept of production flexibility.

Source : Strategic Research Institute

voda 3 mei 2019 15:06

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Ternium announces Q1 2019 results

Ternium SA announced its results for the first quarter period that ended March 31, 2019. Ternium’s operating income in the first quarter 2019 was USD 307.3 million, reflecting a weaker pricing environment in Ternium's main steel markets and relatively low shipment levels in the Southern Region. Operating income in the first quarter 2019 decreased USD 75.4 million sequentially, mainly due to a USD 35 decrease in steel revenue per ton, partially offset by a 241,000-ton increase in steel shipments. This increase in steel volume was the result of a 264,000-ton increase in Other Markets, mainly due to higher slab shipments to third parties, and a 40,000-ton increase in Mexico, partially offset by a 63,000-ton decrease in the Southern Region, reflecting lower shipments in Argentina due to a combination of weaker steel demand, a destocking process in the value chain and the negative effect of seasonality.

Summary of First Quarter 2019 Results

Zie pdf.

Ternium expects EBITDA to decrease slightly in the second quarter 2019 compared to the first quarter 2019 as a result of a lower, normalizing, steel margin partially offset by moderately higher shipments. The company will remain focused on maximizing efficiency throughout its production value chain. In Mexico, Ternium anticipates realized steel prices will decline further in the second quarter of the year mainly due to the delayed effect of industrial customer’s quarterly reset of contract prices, which will continue reflecting a protracted steel price downturn between July 2018 and January 2019. Overall, the Mexican industrial market should continue to exhibit steady steel demand in the second quarter of the year, coupled with moderate destocking at some automotive service centers. The Mexican commercial market’s performance should remain sluggish due to continued low construction activity, which affects the company’s shipments in the country. In Argentina, despite a weak economic forecast, shipments are expected to sequentially increase during the second quarter 2019. This anticipated increase should result from the gradual recovery of the local steel market and the eventual conclusion of the destocking in the country’s steel industry value chain.

Source : Strategic Research Institute

Bijlage:

voda 3 mei 2019 15:08

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Maithan Alloys sees demand of ferroalloys surging in India

Maithan Alloys Ltd has reported financial results for the period ended March 31st 2019.The company has reported net sales of INR 556.51 crores during the period ended March 31st 2019 as compared to INR 482.98 crores during the period ended December 31st 2018. The company has posted net profit of INR 70.09 crores for the period ended March 31st 2019 as against INR 53.94 crores for the period ended December 31st 2018. The company has reported net sales of INR 2014.11 crores during the 12 months period ended March 31st 2019 as compared to INR 1905.88 crores during the 12 months period ended March 31st 2018. The company has posted net profit of INR 255.21 crores for the 12 months period ended March 31st 2019 as against INR 291.80 crores for the 12 months period ended March 31st 2018.

Mr Subodh Agarwalla, Whole-time Director and CEO said that "We are happy to share that our Company has delivered superior performance in the last year despite increased price volatility in the global as well as domestic market. The steel industry's capacity utilisation level is expected to remain at a healthy rate of 82-83% between FY19 and FY21, supported by a favourable domestic demand. It is expected that domestic steelmakers will increase the capacities further by ~16 million tonne over FY19-FY21. Additionally, with investments being ramped up and stressed assets resolved, this would lead to an industry capex estimate of INR ~75,000 crores between FY19 and FY21. With all the capex announced and with increased capacities, the steel industry is set to grow which will boost the demand for ferroalloys at a much faster pace going ahead.”

Source : Strategic Research Institute

voda 3 mei 2019 15:09

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Trump Trade War - Tariffs stand in way of next US shale revolution - Report

Fox Business reported that according to a recent report from the International Energy Agency, US, already the world's top crude oil producer, could surpass Saudi Arabia to become the top crude exporter as President Trump’s tax and regulatory policies have put America on the path to global energy dominance and laid the foundation for second wave of America's shale revolution. Last year, the administration started taxing foreign steel to protect US steel mills from competition. These tariffs may have delivered some marginal benefits to domestic steel companies, but they've raised costs on firms in nearly every other industry, especially the oil and gas sector. Keeping these tariffs in place, or replacing them with a quota system as some have suggested would impede energy production and weaken the economy. President Trump can cement his legacy and make America the world's most dominant oil exporter by scrapping the steel tariffs.

The 25% tariff on steel has raised the cost of pumping all this oil. Over the last year, the price of steel tubes used to line wells in the Permian Basin, a gargantuan oil field in west Texas and New Mexico, spiked over 30%. Tariffs have also raised the cost of transporting this oil from wellheads to refineries and shipping terminals. Companies depend on a sprawling, and ever-expanding, network of pipelines to transport this fuel. Almost 80% of steel used in oil pipelines is imported.

Pipeline companies often don't have the option of buying American, since US steel mills don't make some of the specialty parts required for oil pipelines. Consider a 500 mile pipeline project in the Permian Basin, which is currently facing a pipeline shortage. For this particular project, pipeline company Plains All American needs specialty steel that only a Greek mill can provide. Plains petitioned the government for a steel tariff exemption, but was denied last year. Though the project is moving forward, the company's CEO said that the tariffs have raised the project's price tag by around USD 40 million.

Unfortunately, Plains' pipeline isn't the only project in jeopardy. As long as steel tariffs are in place, the average pipeline will cost an additional USD 76 million to build, according to global consulting firm ICF. These higher costs may discourage companies from constructing new pipelines, thereby impeding energy firms' ability to transport oil to market.

America's energy renaissance has revitalized the economy. Oil and gas firms support over 10 million American jobs and add over USD 1 trillion to GDP. The industry is on track to create nearly 2 million new jobs by 2035. However, that job growth hinges on smart policies from our leaders. President Trump has done wonders for the economy with his tax cuts and light regulatory touch. But to unleash the full potential of the energy industry, he'll need to scrap steel tariffs.
Source : Fox Business

voda 3 mei 2019 15:14

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Pakistan government not considering privatizing Pakistan Steel Mills - Report

Geo TV reported that Minister of State for Parliamentary Affairs Ali Muhammad Khan informed the National Assembly that the government was not considering privatizing the Pakistan Steel Mills. During question hour in the House, the minister said that PSM is a national asset of the country like other institutions including Pakistan Railways, Radio Pakistan, Pakistan International Airlines and others. Mr Ali Muhammad said that PSM was removed from the list of privatization and the government was committed to reviving the institution for converting it into a profitable entity.

He said the Privatization Commission successfully conducted five privatization transactions during 2014-18, generating proceeds amounting to PKR 172.9 billion.

Source : Geo TV

voda 3 mei 2019 15:16

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Olympic Steel reports Q1 results

Olympic Steel Inc, a leading US metals service center, has announced financial results for the three months ended March 31, 2019. First-quarter 2019 net sales increased 19%, to USD 446 million, compared with USD 376 million in the first quarter of 2018. The increase in net sales was driven by higher average selling prices. Net income was USD 2.1 million in the first quarter, compared with USD 7.6 million in the same quarter of 2018. While current-year profit margins were pressured by declining steel prices, first-quarter 2019 sales and earnings were sequentially higher than fourth-quarter results. First-quarter results include the Company's January 2019 acquisition of McCullough Industries. There was no LIFO adjustment made during the first quarter of 2019.

Chief Executive Officer Mr Richard T Marabito said "Net sales in the first quarter were up nearly 20% over the same quarter in the prior year, despite lower shipments for carbon flat products, mirroring the industry's market trend. Our Specialty Metals and Tubular and Pipe businesses performed well, with strong contributions to our first-quarter results."

He said "Our most recent acquisition, McCullough Industries, is off to an exceptional start, with profitability and integration contributions in line with our expectations. As we advance our long-term growth strategy, we continue to evaluate opportunities with similar vertical downstream advantages, proven track records of profitability and strong management teams."

He added "Seasonally, the second quarter is typically stronger than the first quarter, and we are optimistic about contributions from successful execution of our recent capital investments. We will remain focused on controlling our operating expenses and improving inventory turnover throughout the year.”

Source : Strategic Research Institute

voda 3 mei 2019 15:17

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Kamdhenu announces 2018-19 results

Kamdhenu Limited said that its net profit went up 43% to INR 22 crore compared to INR 16 crore in FY18 with revenues going up by 4% to INR 1,232 crore in FY19 against INR 1,180 crore in FY18. Revenue from paints business grew 35% to INR 270 crore in FY19 as compared to INR 200 crore in FY18 while steel business contributed 78% of revenues. Royalty income through franchisee sales went up by 37% to INR 84 crore as compared to INR 61 crore in FY18.

The company launched its premium brand, Kamdhenu NXT’ end interlock TMT bar in Uttarakhand. It also initiated the deal process for Toll Manufacturing unit in West Bengal for Kamdhenu Paints.

Chairman Mr Satish Kumar Agarwal said "We have been able to improve our profitability significantly during the year and have reported a 43% growth to INR. 22 crore. This has been on the back of a conscious decision on changing our business strategy by way of reducing B2B Trading Sales. Our royalty income has also shown significant improvement and has grown by 37% to INR 84 crores for the full year. We have been able to leverage our brand created through our large distribution and marketing strength.”

Source : Strategic Research Institute

voda 3 mei 2019 15:17

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Synalloy announces Q1 2019 results

Synalloy Corporation announced net sales for the first quarter of 2019 of USD 84.8 million. This represents an increase of USD 26.3 million or 45% when compared to net sales for the first quarter of 2018. Excluding the net sales of ASTI and Munhall-Galvanized, net sales for the first quarter of 2019 increased USD 10.3 million, or 17.6% compared to net sales for the first quarter of 2018. For the first quarter of 2019, the Company recorded a net loss of USD 0.9 million, or USD 0.10 diluted loss per share, compared to net income of USD 3.8 million, or USD 0.44 diluted earnings per share for the first quarter of 2018. Excluding the financial results of ASTI and Munhall-Galvanized, net income for the first quarter of 2019 decreased USD 5.1 million, or 126% compared to net income for the first quarter of 2018. The first quarter of 2019 was negatively impacted by inventory price change losses which, on a pre-tax basis, totaled USD 3.4 million, compared to a USD 2.5 million gain in the first quarter of 2019.

Mr Craig C Bram, President and CEO said that “We are very pleased with the Company’s performance in the first quarter, with all business units performing in-line or exceeding the 2019 forecast for revenue and earnings. The ASTI acquisition exceeded our expectations in the first quarter, both in terms of sales and profits. The markets for high-end ornamental stainless steel tubing remain robust and we are excited about what this new business can contribute going forward. As previously noted, metal price adjustments in the commodity welded stainless steel pipe and tube product line swung from a profit of USD 2.5 million in the first quarter of 2018 to a loss of USD 3.4 million in the first quarter of this year. Stainless steel surcharges in the first quarter of this year averaged about 25% less than at the end of the third quarter of last year, generating inventory losses over the past five months. However, assuming surcharges hold at current levels, we anticipate metal price adjustments to reverse and begin to generate profits starting in April. The Chemicals Segment continued to show organic growth in revenue and profit in the first quarter and the pipeline of new products is encouraging,” said Bram.

The Metals Segment's net sales for the first quarter of 2019 totaled USD 71.1 million, an increase of USD 25.6 million or 56% from the first quarter of 2018. Excluding the net sales of ASTI and Munhall-Galvanized, Metals Segment net sales for the first quarter of 2019 increased USD 9.6 million, or 21%, compared to net sales for the first quarter of 2018.

Sales of seamless carbon pipe and tube were up 1.8% over last year’s first quarter. Storage tank and vessel sales increased 70.2% over last year’s first quarter. Excluding ASTI and Munhall-Galvanized, stainless-steel pipe and tube sales were up 14.6% over the first quarter of 2019.

The backlog for our subsidiary, Bristol Metals, LLC, as of March 31, 2019 was USD 43.7 million, an increase of 28% when compared to the first quarter of 2018. The backlog for our subsidiary, Palmer of Texas Tanks, Inc., as of March 31, 2019 was USD 15.8 million, a decrease of 18%, when compared to the first quarter of 2018. The decrease in backlog is primarily attributable to increased throughput as opposed to a decline in order activity. Monthly throughput in the first quarter increased by over 30% from the prior two quarters, both from reduced employee turnover and improvements in the paint and blast department.

The Metals Segment's operating income decreased USD 4.6 million to USD 1.4 million for the first quarter of 2019 compared to USD 6.0 million for the first quarter of 2018.

Source : Strategic Research Institute

voda 3 mei 2019 15:18

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Gallantt Metal announces results for FY 2018-19

Gallantt Metal Ltd has reported financial results for the period ended March 31st 2019.The company has reported net sales of INR 268.88 crores during the period ended March 31st 2019 as compared to INR 265.18 crores during the period ended December 31st 2018. The company has posted net profit of INR 10.58 crores for the period ended March 31st 2019 as against INR 10.24 crores for the period ended December 31st 2018. The company has reported EPS of INR 1.30 for the period ended March 31st 2019 as compared to INR 1.26 for the period ended December 31st 2018.

The company has reported net sales of INR 1069.18 crores during the 12 months period ended March 31st 2019 as compared to INR 850.34 crores during the 12 months period ended March 31st 2018. The company has posted net profit of INR 104.34 crores for the 12 months period ended March 31st 2019 as against INR 62.73 crores for the 12 months period ended March 31st 2018. The company has reported EPS of INR 12.83 for the 12 months period ended March 31st 2019 as compared to INR 7.71 for the 12 months period ended March 31st 2018.

Source : Strategic Research Institute

voda 3 mei 2019 15:19

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Fredericksburg Machine & Steel changes its name to Viking Steel

Fredericksburg Machine & Steel has changed its name to Viking Steel Fabricators. President Luke Breivik said that “We no longer offer machining work, but are now 100% committed to structural steel fabrication, handrails and stairs, welding repairs, and metals fabrication. New name was chosen in honor of his grandfather, who emigrated from Norway to the United States and has an extensive Viking pedigree.”

Mr Breivik also made another change recently by purchasing Spotsylvania County-based Virginia Architectural Metals, and adding their services to the shop. He said that “They are a long-established local business that primarily does ornamental iron, stainless steel and brass bronze rail, spiral staircases, and more unique decorative looking steel pieces.”

Mr Breivik said that “My father was hired in 1985 to begin steel fabrication (beams and columns, etc) for commercial buildings as a part of the business. That coincided with the ‘boom’ here and as a result it did not take long for the fabrication side to be much more profitable business than the machine shop. Many of the buildings in Central Park have our steel in it. As time and technology went on machining and machine work struggled to keep up.”

Mr Breivik took over the business when his father retired in 2016. He said that he tried different ways to make the machine shop profitable before deciding that it best to cease those operations and expand the company’s steel fabrication work.

Viking Steel Fabricators started as a machine shop in downtown Fredericksburg more than 70 years ago, and moved to its current location at 2202 Airport Ave. in the 1970s.

Source : Strategic Research Institute

voda 6 mei 2019 14:06

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Beursblik: gepaste productieverlaging ArcelorMittal

FONDS KOERS VERSCHIL VERSCHIL % BEURS
ArcelorMittal
18,066 -0,75 -3,99 % Euronext Amsterdam

(ABM FN-Dow Jones) Met een verlaging van de staalproductie zet ArcelorMittal een gepaste stap om de Europese staalmarkt meer in balans te brengen. Dat zei Kepler Cheuvreux maandag.

Het staalconcern was maandag heel expliciet dat de winstgevendheid in Europa onder druk staat door het aanbod van buitenlands staal, concludeerde analist Rochus Brauneiser van Kepler Cheuvreux. Hij noemt het gepast dat marktleider ArcelorMittal het voortouw neemt om vraag en aanbod weer meer in evenwicht te brengen door de productie te verlagen.

ArcelorMittal mag hopen dat in juli de marktbescherming van de Europese staalmarkt wordt bijgesteld, maar dit ligt erg gevoelig en je kunt niet wachten op regelgeving om de markt in balans te brengen, zei de analist.

Of de productieverlaging met 3 miljoen ton op jaarbasis genoeg is, is afwachten, maar het is "geen kleine hoeveelheid", volgens de analist.

De koersdaling van het aandeel ArcelorMittal maandag komt volgens de analist echter vooral voor rekening van de Amerikaanse president Donald Trump, die zijn handelsoorlog met China weer liet oplaaien door zondag te dreigen met hogere importheffingen omdat de onderhandelingen met het team van Xi Jinping te lang zouden duren.

Kepler Cheuvreux heeft een koopadvies op ArcelorMittal met een koersdoel van 30,00 euro.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved.

voda 6 mei 2019 14:13

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ArcelorMittal beperkt Europese staalproductie

FONDS KOERS VERSCHIL VERSCHIL % BEURS
ArcelorMittal
18,096 -0,72 -3,83 % Euronext Amsterdam

(ABM FN-Dow Jones) ArcelorMittal legt de plaatstaalproductie in het Poolse Krakow en het Spaanse Asturias tijdelijk stil vanwege een zwakkere vraag, concurrentie van goedkoop importstaal en hogere kosten voor energie en CO2-uitstoot. Dat maakte de staalfabrikant maandag bekend.

Met de sluiting kiest het staalconcern voor "kosten en kwaliteit boven volume". De staalproductie daalt hierdoor op jaarbasis met ongeveer 3 miljoen ton.

"Deze moeilijke beslissing is niet lichtvaardig genomen", stelde CEO Geert van Poelvoorde van ArcelorMittal Europe. "Deze stappen weerspiegelen de zwakke vraag in Europa op dit moment. Die situatie wordt bemoeilijkt door stijgende importen, ondanks de beschermende maatregelen die de EU heeft getroffen."

ArcelorMittal is in gesprek met belanghebbenden over meer marktbescherming om te voorkomen dat de import van goedkoop staal verder toeneemt. Het staalconcern blijft pleiten voor een "groene grens", waardoor voor importen dezelfde CO2-kosten gaan gelden als voor Europese producenten. "De staalindustrie in Europa kan een sterke toekomst hebben maar het speelveld moet gelijk zijn om te voorkomen dat geen oneerlijk voordeel wordt gegeven aan concurrenten buiten de regio", aldus de CEO.

De Poolse staalmarkt werd bijzonder hard geraakt doordat de import van Russische staal binnen een jaar bijna is verviervoudigd, terwijl de stroomprijzen in Polen tot de hoogste in Europa behoren. In Asturias zijn de elektriciteitskosten ook erg hoog, terwijl een ongekende hoeveelheid importstaal de Zuid-Europese markt overspoelt.

De geplande toename van de levering van staal door ArcelorMittal Italia zal worden vertraagd.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved.

voda 6 mei 2019 14:21

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Fusie Thyssenkrupp en Tata Steel op losse schroeven - media

FONDS KOERS VERSCHIL VERSCHIL % BEURS
ThyssenKrupp AG
11,805 -0,465 -3,79 % Frankfurter Wertpapierbörse (Xetra)

(ABM FN-Dow Jones) De kans wordt steeds groter dat de Europese Commissie de voorgenomen fusie tussen het Duitse Thyssenkrupp en de Europese activiteiten van het Indiase Tata Steel zal blokkeren. Dit meldde The Financial Times dit weekend.

De twee bedrijven zouden met meer concessies moeten komen, citeert de zakenkrant bronnen. Momenteel zijn Thyssenkrupp en Tata Steel van plan om activiteiten te desinvesteren in het Verenigd Koninkrijk, Spanje en België.

Brussel is bezorgd dat de joint venture, waarmee Europa's op één na grootste staalproducent wordt gevormd, onder andere leidt tot minder keus in de sector en hogere staalprijzen in de auto-industrie.

Hoewel meer concessies mogelijk zijn, zouden verdere desinvesteringen voor Thyssenkrupp betekenen dat de fusie niet langer doeltreffend is. Bovendien liggen de vakbonden van Tata Steel nu al dwars bij aangekondigde concessies.

Thyssenkrupp heeft zelf nog steeds vertrouwen in de deal, zei een woordvoerder zondag tegen diverse media, waaronder persbureau Bloomberg. Deze week wordt verder gepraat met eurocommissaris Margrethe Verstager, volgens Bloomberg.

De deadline voor de beoordeling van de fusie is op 17 juni aanstaande.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved.

voda 6 mei 2019 14:33

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'Herstel Aperam na eerste kwartaal'

Gepubliceerd op 6 mei 2019 om 14:12 | Views: 338

Aperam 14:13
26,29 -0,24 (-0,90%)

AMSTERDAM (AFN) - Roestvrijstaalfabrikant Aperam heeft naar verwachting in het eerste kwartaal een lagere omzet en winst in de boeken gezet. Deze voorspelling spreken kenners bij JPMorgan en Deutsche Bank uit. Analisten bij beide banken denken wel dat er na het eerste kwartaal herstel in het verschiet ligt. Aperam doet woensdag voorbeurs zijn boeken open.

Beide banken gaan uit van een omzet in de eerste drie maanden van 2019 van gemiddeld 1,13 miljard euro, tegen 1,2 miljard euro een jaar eerder. Het bedrijfsresultaat (ebitda) daalt volgens de analisten tot zo'n 92 miljoen euro. Dat was nog 141 miljoen euro in het eerste kwartaal van 2018. Onder de streep resteert er 27 miljoen euro, rekenen de marktvorsers. Dat was nog 85 miljoen euro een jaar eerder.

Aperam noemde de marktomstandigheden in Europa ,,extreem uitdagend'' bij zijn laatste handelsupdate. De prijzen staan volgens het bedrijf onder druk mede vanwege de hogere import van goedkoop, buitenlands roestvrij staal. De Finse branchegenoot Outokumpu waarschuwde eerder dit jaar om dezelfde reden voor een zwakker eerste kwartaal.

Invoerheffingen

Wel bieden de betere economische data van de afgelopen tijd in China en Europa hoop op herstel, aldus analisten van JPMorgan. Volgens Deutsche Bank liggen hogere prijzen in Europa voor de boeg, wat tot een verbetering van de resultaten in het tweede kwartaal zal leiden.

De aandacht van beleggers gaat verder uit naar enig commentaar over de situatie in Brazilië. Volgens JPMorgan doet de economie het daar wat minder de laatste tijd. Daarnaast zou de regering nieuwe invoerheffingen overwegen die van invloed kunnen zijn op roestvrijstaalprijzen.

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