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voda 25 juli 2017 17:05

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Mining scam - SIT probe reveals illegal iron ore extraction

Nav Hind Times reported that Special Investigation Team probing the alleged multi crore mining scam has come across at least 10 locations across the state where private firms/individuals allegedly carried out iron ore extraction without any permission from the concerned government agencies. Sources informed that the SIT probe has revealed that the mining department had identified these illegal sites (between 2008 and 2011), however, it appears that the department only compounded the offence by issuing penalties by way of fines.

According to SIT officials, the Mines Department at that particular time, should have also filed criminal complaints against the persons who were found to have carried out extraction of ore illegally.

Sources informed that the SIT came across these sites during the ongoing probe in the main case pertaining to renewal and other alleged illegalities in which 183 mining leases are being examined.

So far, in the main case, the SIT has arrested two accused Kancha Gaunder and Philip Jacob.

SIT officials have said that the accused Gaunder, an ore trader, allegedly illegally excavated, transported and also traded lakhs of metric tonnes of iron ore from different lease sites, dump sites from Goa along with other associates.

While the unregistered iron ore trader Philip Jacob was reportedly involved in purchase of unaccounted iron ore to the tune of 30.95 lakh metric tonne and sale thereafter to the tune of 26.08 lakh metric tonne worth over INR 530 crore, the SIT officials have stated adding that in this particular case, the loss to the state exchequer is more than INR 90 crore (only in terms of not paying royalty).

Source : Nav Hind Times

voda 25 juli 2017 17:06

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Iran to cease iron ore exports by March 2019

Financial Tribune quoted Iran deputy minister of industries, mining and trade as saying that exports of iron ore will be halted by the end of the next fiscal year (March 20, 2019). Mr Mehdi Karbasian, who is also the president of state-owned Iranian Mines and Mining Industries Development and Renovation Organization–Iran’s largest holding in the mining sector, was also quoted as saying by Mehr News Agency that “Considering the incomplete steel production chain in Iran, currently only about 67% of the country’s iron ore production is used to manufacture steel. We expect to end iron ore exports by the end of next year by establishing and finalizing concentrate, pellet and direct-reduction plants.”

He noted that iron ore exports can be permissible if they lead to further investment in mines and imports of processing machinery, pointing to Chadormalu and Golgohar mines as notable examples of ore exporters who turned into concentrate, pellet and steel ingot producers.

However, most of Iran’s iron ore deposits are low-content hematite reserves that require an advanced and costly beneficiation process before they are suitable for steelmaking. Hence, it makes more sense for the smaller, cash-strapped miners to ship their products abroad.

The official said that “This type of iron ore (hematite) is predominantly exported due to limitations and underdevelopment of steel production chain.”

Mr Karbasian’s remarks come at a time when rising global steel and iron ore prices have buoyed Iranian products, creating the optimal condition for a boost in exports.

Foreign quotes for Iranian iron ore in China more than doubled last month. Hematite fines with 55-56% content rose 105% to USD 25 FOB during June 20-July 20. China’s Port Tianjin inventories of 62% Iranian hematite fines and 61% magnetite are depleting, bringing prices to USD 66 to USD 68 WMT.

With improved prospects for exports, the announced deadline might fail to put a stop to exports. The same scenario unfolded last year, as Mr Karbasian pointed to March 2017 as the ministry’s target for halting mineral ore exports.

Source : Financial Tribune

voda 25 juli 2017 17:21

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This Week's Raw Steel Production

Sign up for the weekly Raw Steel Update newsletter.

In the week ending on July 22, 2017, domestic raw steel production was 1,773,000 net tons while the capability utilization rate was 76.1 percent. Production was 1,667,000 net tons in the week ending July 22, 2016 while the capability utilization then was 71.3 percent. The current week production represents a 6.4 percent increase from the same period in the previous year. Production for the week ending July 22, 2017 is up 0.6 percent from the previous week ending July 15, 2017 when production was 1,763,000 net tons and the rate of capability utilization was 75.6 percent.

Adjusted year-to-date production through July 22, 2017 was 50,339,000 net tons, at a capability utilization rate of 74.5 percent. That is up 2.5 percent from the 49,126,000 net tons during the same period last year, when the capability utilization rate was 72.4 percent.

Broken down by districts, here's production for the week ending July 22, 2017 in thousands of net tons: North East: 214; Great Lakes: 677; Midwest: 166; Southern: 637 and Western: 79 for a total of 1773.

The Raw Steel production tonnage provided in this report is estimated. The figures are compiled from weekly production tonnage provided from 50% of the domestic producers combined with monthly production data for the remainder. Therefore, this report should be used primarily to assess production trends. The AISI production report "AIS 7", published monthly and available by subscription, provides a more detailed summary of steel production based on data supplied by companies representing 75% of U.S. production capacity.

Note: Capability for the Second Quarter 2017 is approximately 30.3 million tons compared to 30.4 million tons for the same period last year and 30.0 million tons for the First Quarter of 2017.

www.steel.org/about-aisi/statistics.aspx

voda 25 juli 2017 17:22

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US is losing a trade war in steel to predatory countries like China - Nucor CEO

CNBC reported that Nucor CEO John Ferriola sees a much more pressing issue at hand that affects more than just his steel-producing company. Mr Ferriola told "Mad Money" host Jim Cramer on Monday He told "There's no doubt we're in a trade war. We are losing that trade war. It is time to take action to support the American industry and the American people. And beyond just the steel industry, we're talking manufacturing as a whole."

Mr Ferriola said that because foreign competitors are motivated not by profits, but by employment, those countries are effectively trying to export their unemployment" to the United States steel industry, hurting companies doing business stateside.

Moreover, if those competitors' low-cost imports continue to pressure US steel producers that supply materials for everything from tractors to appliances, Ferriola said they would eventually engulf the whole US market.

He told "There's no doubt, when you have predatory countries like China, as an example, they will take care of their own appliance [and] tractor industries in China before they worry about supplying steel to those American manufacturers here. Steel is a raw material that's essential for all manufacturing. You want to make sure you have a strong steel industry to have a strong manufacturing industry."

Source : CNBC

voda 25 juli 2017 18:07

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Wereldstaalproductie dikt verder aan

Gepubliceerd op 20 jul 2017 om 15:13 | Views: 2.532

ArcelorMittal 17:38
22,49 +0,71 (+3,26%)

BRUSSEL (AFN) - De wereldwijde staalproductie is in juni wederom toegenomen. Dat meldde de internationale brancheorganisatie World Steel Association (WSA) dinsdag. De productie dikte met 3,2 procent aan ten opzichte van een jaar eerder, tot 141 miljoen ton.

In China, verreweg de grootste staalproducent, werd met een totaal van 73,2 miljoen ton 5,7 procent meer staal gemaakt. Ook in landen als Zuid-Korea, Italië en Brazilië zat de productie in de lift. In de Verenigde Staten, Japan Duitsland werden minnen genoteerd.

Bij de WSA zijn zo'n 160 staalproducenten aangesloten, waaronder negen van de tien grootste staalconcerns ter wereld. Zij zijn gezamenlijk verantwoordelijk voor zo'n 85 procent van de wereldwijde productie.

voda 25 juli 2017 20:35

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The business of Mechel’s steel segment includes manufacturing of rolled products from carbon steel and specialty steels, flat stainless steel products, structural shapes, high value-added steel products, including hardware and stampings, as well as production of billets.

Mechel’s steel segment is comprised of metallurgical enterprises in Russia, Ukraine and Lithuania.

Mechel is Russia’s top producer of specialty steels and alloys with the widest product range, and is Russia’s second largest rolled products manufacturer. Mechel is also Russia’s leading producer of reinforcement and rolled wire.

One of Mechel's steel segment’s competitive advantages is its significant share on the high value-added product markets, primarily specialty steels, stainless rolls and hardware, where on several counts we hold a leading place in Russia. This advantage is upheld by unique technologies, which are further developed to expand the product line and improve quality. Mechel’s strong positions on the steel market are ensured due to the group’s own expansive service and sales network.

In 2012 Chelyabinsk Metallurgical Plant launched the first line of its universal rolling mill – a complex producing quality steel, which will operate in the same production cycle as the mill itself. The mill’s chief product will be new types of rails up to 100 meters in length, of high resistance to wear, contact endurance and reliability in low temperatures. The mill was fully launched in July 2013. It will enable Mechel to become Russia’s chief supplier of long rails that would be up to every requirement of both Russian and foreign railways. This guarantees the company a significant share in all major infrastructure projects in the next several decades. The mill also produces various types of structural shapes.

Mechel’s steel segment also includes the world-renowned Kaslinsky Plant of Art Casting, one of Russia’s oldest plants, which preserves ancient traditions of art casting and architectural iron casting, and is known for unerringly high quality and a rich collection of models.

Mechel’s steel segment includes:

Voor meer, zie link:

www.mechel.com/sector/steel/

Padre 26 juli 2017 07:02

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www.marketwatch.com/story/japan-aussi...

voda 26 juli 2017 16:14

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Licht hogere resultaten Ford

Staalprijzen drukkend effect.

(ABM FN-Dow Jones) Ford Motor Company heeft in het tweede kwartaal iets meer omzet en winst geboekt dan een jaar eerder. Dit maakte de op één na grootste autofabrikant in Amerika woensdag voorbeurs bekend.

De kwartaalomzet van de fabrikant nam licht toe van 39,5 miljard naar 39,9 miljard dollar. De nettowinst steg van net geen 2 miljard naar ruim 2 miljard dollar.

De aangepaste winst per aandeel kwam uit op 0,51 dollar. Vorig jaar in dezelfde periode verdiende Ford 0,49 dollar per aandeel.

Outlook

In heel 2017 denkt Ford 1,65 tot 1,85 dollar per aandeel te kunnen verdienen.
De fabrikant merkte op dat hogere prijzen, vooral voor staal, op de resultaten in Noord-Amerika drukken.

In de handel voorbeurs in Amerika daalde het aandeel Ford met 0,3 procent.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

Copyright ABM Financial News. All rights reserved

(END) Dow Jones Newswires

voda 26 juli 2017 16:41

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Arcelor krijgt ongelijk in emissiezaak EU

Gepubliceerd op 26 jul 2017 om 11:46 | Views: 2.262

ArcelorMittal 16:22
22,06 -0,43 (-1,91%)

LUXEMBURG (AFN/BLOOMBERG) - De manier waarop gratis emissierechten in de Europese Unie worden vastgesteld en verdeeld hoeft niet te worden aangepast. Staalgigant ArcelorMittal kreeg woensdag ongelijk van het Europees Hof van Justitie in Luxemburg.

Volgens Arcelor worden de regels niet juist toegepast voor enkele afvalgassen en een soort bewerkt ijzererts. Ook zou de Europese Commissie onder meer bij haar berekeningen geen gebruik maken van de meest nauwkeurige wetenschappelijke gegevens. De Europese rechter wees de klachten van het in Amsterdam aan de beurs genoteerde staalbedrijf af.

Bedrijven mogen een bepaald niveau van uiteenlopende gassen gratis uitstoten per jaar. Daarnaast kunnen ze onderling emissierechten aan- en verkopen. De regels voor de vaststelling van deze zogeheten emissierechten werden in 2011 aangepast. Tot die tijd mochten EU-lidstaten tot op enige hoogte zelf gratis emissierechten vaststellen.

voda 26 juli 2017 16:51

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Decision on steel imports will take more time - Mr Trump
Published on Wed, 26 Jul 2017

The Hill reported that US president Mr Donald Trump says decision on steel imports will take more time as Commerce Department's plans to produce a report by the end of June were hampered by the complexity of the issue. Mr Trump told the Wall Street Journal in an interview on Tuesday that “We don’t want to do it at this moment. You can’t just walk in and say I’m doing to do this. You have to do statutory studies. It doesn’t go that quickly.”

The president didn’t say when a decision would be made on how to proceed. The WSJ said that Mr Trump started to say he would make a move “very” soon but stopped himself and instead said “fairly soon."

He however added "We’re going to be addressing the steel dumping.”

He said the steel issue is a very unfair situation.

Trump recently told reporters that he may slap both tariffs and quotas on countries he thinks are endangering the nation’s security as part of his campaign promise to better protect domestic steel producers.

The results of a Commerce Department investigation were due at the end of June but the long-awaited decision about what to do about steel has been bogged down by widespread opposition from business groups, trading partners and infighting within the White House. Once the investigation does finally hit his desk, Trump will have to determine whether to assess penalties under Section 232 of a 1962 trade law that gives the president the power to apply higher tariffs on imported steel for national security reasons.

Source : The Hill

voda 26 juli 2017 16:53

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China steel import to US insignificant - Mr Russell

Mr Clyde Russell wrote in Reuters that anybody looking at the United States' import data would wonder why the Trump administration is bothering making a big deal out of its steel trade with China. US Commerce Department statistics show that China supplied 73,594 tonnes of steel in May, a tiny 2.4% of the 3.12 million tonnes imported by the United States that month. In the first four months of 2017, US imports of Chinese steel products were 236,690 tonnes, representing 2.1% of total imports and down from 283,676 tonnes for the same period last year.

What the US import data reveals is that if there is a problem with too much imported steel, China is definitely not the source of that problem.

If Trump wants to boost the US steel industry by cracking down on imports, he should focus much closer to home, with Canada supplying 514,488 tonnes in May and Mexico 266,544.

China isn't even the biggest supplier of steel from Asia, being behind Japan, South Korea and India in May and only just ahead of Taiwan.

US President Donald Trump said last week that he is considering imposing tariffs on steel imports, while talks between the commerce secretaries of the United States and China ended without any concrete measures. The threat of US import taxes on Chinese steel have helped boost the share prices of US steelmakers, but this is likely more of a sentiment driven improvement rather than any expectation that imposing tariffs will be anything more than largely symbolic.

Source : Reuters

voda 26 juli 2017 16:55

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IRP appointment will not impact Essar Steel operations - SBI tells NCLT

Financial Express reported that State Bank of India on Tuesday informed the Ahmedabad bench of the National Company Law Tribunal that the appointment of an interim resolution professional will not impact Essar Steel’s operations.

The bank’s counsel was replying to Essar Steel’s counsel Mihir Thakore who wondered if an IRP would be capable to run the company. He said “An IRP may not be able to run the company like the management and board does. The company is bound to follow the instructions of IRP but their suppliers, distributors and buyers are not.”

Thakore also argued that the JLF had no intention to initiate insolvency proceeding against the company and it was only after the Reserve Bank of India (RBI) direction, that lenders have referred it to NCLT. The case will be heard on Wednesday, July 26.

The court was hearing an insolvency petition filed by SBI and Standard Chartered Bank against Essar Steel as part of a dozen accounts picked by RBI for resolution under the Insolvency and Bankruptcy Code (IBC).

Source : Financial Express

voda 26 juli 2017 16:56

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Tata Steel may consider take over of steel firms at NCLT - CFO

Business Standard reported that Tata Steel will evaluate, on the basis of the parameters of transparency and feasibility, taking over steel firms referred to the National Company Law Tribunal. Mr Koushik Chatterjee, group executive director (finance, corporate and Europe operations), Tata Steel, told Business Standard “If it is a transparent process, which it appears from the way the code has been drafted, we will evaluate and see. Our board has to be comfortable whether it is a good thing or not.”

Later, he said the way in which the NCLT had been set up and the process that had been laid out showed the modus operandi of the tribunal was poised to be transparent.

However, Mr Chatterjee said evaluating organic growth at its plants in Kalinganagar and Jamshedpur would be done first. He told “We have completed Kalinganagar, and we have space there. Therefore, we can grow significantly. We are looking at Jamshedpur too. So there are huge organic opportunities. We have to see what inorganic opportunities there are on a comparative and feasibility basis because we are not drivers. There are people whose stakes are significant in companies that have gone to the NCLT.”

According to Mr Chatterjee, organic expansion gives the company control over the product portfolio but in the case of acquisitions, one has to be content with what’s on offer. He said “When you are looking at inorganic growth, it is already there and you have to see whether it fits or doesn’t fit. So let me see who the candidate is, and then I will be able to say whether it fits.”

Five stressed steel companies Essar Steel, Monnet Ispat and Energy, Electrosteel Steels, Bhushan Steel, and Bhushan Power and Steel have been referred to the NCLT by the RBI in a recent directive.

Source : Business Standard

voda 26 juli 2017 17:05

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New A8 Audi is again made of steel

Steel is making a comeback: after experiments with aluminum in its luxury models, Audi reverts to steel on the new A8. In 2018, it is to be on the market: the body of the new A8 from Audi will consist of more than 40 percent of steel. This is in line with the trend among automotive manufacturers to use high-strength steels in new cars. It is a clear departure from the pure aluminum body, which Audi developed 1994 for the A8. Since then, steel has evolved enormously as a material. The tensile strength of steel has increased almost tenfold from 270 to 2,000 MPa over the last 20 years. More than 80 new steel products are currently being developed at ArcelorMittal. The steel offer for the automotive sector comprises almost 200 special steel grades, half of which have been marketed in the last ten years.

Approximately 17 percent of the body of the new A8 will consist of press hardened steel (PHS), some of which is supplied by ArcelorMittal. These steels have yield stresses of up to 1,500 MPa after press hardening. The weight-specific strength of these steels also surpasses that of the highly developed - and more expensive - aluminum grades.

Thanks to the development of new joining techniques, it is now easier than ever for automotive manufacturers to integrate high-strength steels into their vehicles. Since these technologies are now mature and are adopted by the automobile manufacturers, a strong increase in the use of PHS in vehicles with multi-material construction is to be expected. "Usibor® is our main product for hot forming and has been a major commercial and technical success in the automotive industry worldwide," said Brian Aranha, Vice President of ArcelorMittal Global Automotive. "The introduction of further improved products such as Usibor® 2000, which is 10-15 percent lighter than the previous hot-formed steels, will further increase the use of hot-formed products in vehicles." Usibor® is comparable to conventional press hardening techniques and processes. The combination of Usibor® and Ductibor® for laser-welded boards offers several clear advantages, for example weight savings, more favorable crash behavior and cost savings through material and production optimization.

Dr. Bernd Mlekusch, Head of the Lightweight Construction Center of Audi, explains: "There will be no cars built of aluminum in the future. Press-hardened steels (PHS) will play a special role in this development. PHS steels form the heart of the passenger compartment of a car and protect the occupants in an impact. Looking at the stiffness in relation to the weight, PHS is superior to aluminum today. "

The turnaround from Audi back to steel corresponds to an increasing trend, which, according to the figures of the Steel Market Development Institute (SMDI), also exceeds the expectations of steel producers. Between 2006 and 2015 the use of high-strength multi-phase steels in vehicles increased from an average of 36.7 kg per vehicle to 124 kg. This is a tripling in only ten years. More surprisingly, the use of high-strength steels increased by about 10 per cent annually from 2012 to 2015, significantly more than predicted by the steel producers.

Voor cijfers, zie pdf

Source : Strategic Research Institute

Bijlage:

voda 26 juli 2017 17:17

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Mobarakeh Steel begin production of steel plates for fuel tanks

Financial Tribune reported that Mobarakeh Steel Company has begun the production of carbon steel plates used in the production of fuel tanks for the first time in Iran. MSC’s manager for metallurgy and production affairs said that 600 tonnes of the plates have already been produced to meet the order placed by Golbargh Urmia Company Ltd, an engineering company producing machinery used in petroleum industry.

MSC’s website reported that Golbargh will be using the plates to produce fuel tanks for Maku Power Plant in West Azarbaijan Province.

The plates are produced under the ASTM A283 specification, the standard for low and intermediate tensile strength carbon steel plates used in general structural applications. Of the four grades of A283 steel, MSC produces grade C, as specified by ‘GR.C’ used in the product’s name.

Source : Financial Tribune

Bijlage:

voda 26 juli 2017 17:19

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Philippine President threatens miners with more tax

Bloomberg reported that miners bore the brunt of Philippine President Rodrigo Duterte’s annual address to congress as the tough-talking leader backed the local processing of metal ore and threatened mining firms with more taxes unless they do more to protect the environment.

In his State of the Nation address before lawmakers on Monday, Mr Duterte called on the industry to build plants that will process raw materials into finished products, signaling that he doesn’t favor exporting ores. He also placed an emphasis on protecting the environment, which he said is nonnegotiable, over mining revenues.

Duterte in the speech that focused on his deadly drug war said that “At this point in my administration, it’s possible that we shall put a stop to the extraction and exportation of our mineral resources to foreign nations for processing abroad and importing them back to the Philippines. Spend to restore the virginity of resources or I will tax you to death.”

Nickel Asia Corp., Global Ferronickel Holdings Inc and Philex Mining Corp. are among the key mining firms operating in the country, the world’s top producer of nickel ore.

Some lawmakers and the environment department under former Secretary Gina Lopez had signaled the nation may bar shipments of unprocessed ores and follow the same track taken by Indonesia, which had been the biggest nickel supplier until it banned shipments of unprocessed ores in 2014.

Mr Duterte’s warning to miners comes months after lawmakers rejected his choice of an activist as chief of the environment department. Lopez, who roiled the global nickel industry with her threat to close or suspend mines in an unprecedented environmental crackdown, was replaced with an ex-military chief.

Source : Bloomberg

Bijlage:

voda 26 juli 2017 18:06

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Second quarter 2017 - results 1 (Aperam natuurlijk)
Luxembourg, July 26, 2017
Highlights
¦ Health and Safety: LTI frequency rate 2 of 1.3x in Q2 2017 compared to 1.1x in Q1 2017.
¦ Steel Shipments of 478 thousand tonnes in Q2 2017, a 2% decrease compared to steel
shipments of 486 thousand tonnes in Q1 2017.
¦ EBITDA 3 of USD 169 million in Q2 2017, compared to USD 171 million in Q1 2017.
¦ Net income of USD 85 million in Q2 2017, compared to USD 93 million in Q1 2017.
¦ Basic earnings per share of USD 1.10 in Q2 2017, compared to USD 1.20 in Q1 2017.
¦ Cash flow from operations amounted to USD 100 million in Q2 2017, compared to USD 27
million in Q1 2017.
¦ Free cash flow before dividend and share buy-back 4 of USD 63 million in Q2 2017, compared to
USD (15) million in Q1 2017.
¦ Net debt 5 of USD 235 million as of June 30, 2017 compared to USD 220 million as of March 31,
2017, including impact of USD 108 million of cash returns to shareholders during Q2 2017.

Zie PDF voor meer cijfers.

Bijlage:

voda 26 juli 2017 18:11

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Aperam boekt iets lager kwartaalresultaat

Gepubliceerd op 26 jul 2017 om 18:02 | Views: 0

Aperam 17:35
41,60 +0,28 (+0,68%)

LUXEMBURG (AFN) - Roestvrijstaalbedrijf Aperam heeft in het tweede kwartaal een iets lager bedrijfsresultaat (ebitda) geboekt dan in de eerste drie maanden. Aperam gaf aan voor het derde kwartaal een daling van het resultaat te verwachten in vergelijking met de afgelopen periode, vanwege de recente daling van de grondstofprijzen en een seizoensgebonden afzwakking van de vraag.

De ebitda bedroeg 169 miljoen dollar, tegen 171 miljoen dollar in het eerste kwartaal. Aperam had in mei een prognose uitgesproken voor een vergelijkbaar resultaat op kwartaalbasis.

De omzet zakte naar bijna 1,27 miljard dollar, van krap 1,28 miljard dollar in de voorgaande periode. Op nettobasis werd een winst behaald van 85 miljoen dollar, tegen 93 miljoen dollar in de eerste drie maanden van 2017.

In juni kondigde Aperam aan zijn winstgevendheid structureel te willen verbeteren. Daarbij wordt voor de periode 2018 tot en met 2020 gemikt op jaarlijks 150 miljoen dollar. Dit doet het onder meer door de bedrijfsvoering te stroomlijnen waarbij het gebruik zal maken van nieuwe technologieën. Ook zet het bedrijf in op automatisering en digitalisering.

voda 26 juli 2017 18:17

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Aperam presteert conform eigen verwachtingen

Voorzichtig over derde kwartaal.

(ABM FN-Dow Jones) Aperam heeft, zoals het zelf voorspelde, in het tweede kwartaal een stabiele winst gerealiseerd ten opzichte van de eerste drie maanden van dit jaar. Dit bleek woensdag nabeurs uit de resultaten van de fabrikant van roestvast staal.

Het bedrijfsresultaat (EBITDA), de belangrijkste winstgraadmeter voor het staalbedrijf, bedroeg 169 miljoen dollar. In het eerste kwartaal was dit 171 miljoen dollar. Analisten geraadpleegd door ABM Financial News zaten met hun taxaties ook dicht bij dit resultaat. In hetzelfde kwartaal een jaar terug werd nog een EBITDA gerealiseerd van 123 miljoen dollar.

De winst werd aangejaagd door het kostenbesparingsprogramma van Aperam. Begin juni maakte het bedrijf bekend dit programma uit te breiden tot en met 2020. Vanaf 2018 moet dit jaarlijks 150 miljoen dollar aan het EBITDA resultaat toevoegen.

De omzet van de fabrikant steeg op jaarbasis van 1.121 miljoen naar 1.268 miljoen dollar. Aperam leverde 478.000 ton staal af tijdens het kwartaal. Een jaar terug was dit 520.000 ton en in de eerste drie maanden van dit jaar stokte de teller op 486.000 ton.

Onder de streep restte een nettowinst van 85 miljoen dollar, iets minder dan de 93 miljoen dollar een kwartaal eerder.

De nettoschuld van Aperam ging licht omhoog. Aan het einde van het tweede kwartaal bedroeg de schuldenlast 235 miljoen dollar. Ultimo maart was dit 220 miljoen dollar. Aperam keerde voor 108 miljoen dollar aan contanten uit aan zijn aandeelhouders gedurende de verslagperiode.

Outlook

"Wanneer we vooruitkijken zijn we voorzichtig gestemd over het derde kwartaal vanwege de sterke seizoensgebonden effecten en de recente gedaalde grondstofprijzen", zei CEO Timoteo Di Maulo. De topman bleef wel positief over de onderliggende vraag.

Deze voorzichtigheid is geen verrassing. Het derde kwartaal is altijd minder sterk vanwege een lagere activiteit gedurende de zomermaanden.

De nettoschuld zal volgens het Luxemburgse concern gedurende het lopende kwartaal toenemen.

Op een groene beurs sloot het aandeel Aperam woensdag 0,7 procent hoger op 41,60 euro.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

Copyright ABM Financial News. All rights reserved

(END) Dow Jones Newswires

voda 26 juli 2017 18:38

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Nog de mooie column van Nico Inberg:

ArcelorMittal vreest Chinees staal
Door Nico Inberg op 26 jul 2017 om 09:30 | Views: 4.763 | Categorie: Beurs vandaag | Onderwerpen: staal

Morgen, donderdag, komt ArcelorMittal met de KW2-resultaten naar buiten. Op IEX is ArcelorMittal één van de meest gevolgde aandelen. Mittal zelf heeft geprobeerd dit te ondermijnen door de reverse split van 1 op 3, maar dat helpt allemaal weinig: op de Google Analytics lijsten prijkt het onverminderd bovenaan.

Chinese kopzorgen
Wat kunnen we verwachten morgen? Al bij de KW1-cijfers nam Lakshi Mittal, directeur-grootaandeelhouder bij ArcelorMittal, uitvoerig de tijd om de problemen met Chinees staal te becommentariëren. De Chinezen hebben structureel staal over en dumpen dat op de Europese en Amerikaanse markt.

In dit overzicht ziet u de laatste ontwikkelingen. De Amerikanen hebben een deel in ieder geval voor de komende vijf jaar tegengehouden, Europa, Mittal's grootste afzetmarkt, moet nog over de brug komen. Klik voor groot.

zie link:

Hete aardappel is het Section 232 onderzoek, opgezet door de Trump regering. Dit onderzoek richt zich op vermeende dumping van Chinees staal op de Amerikaanse markt. Officieel heet het onderzoek: "Section 232 Investigation on the Effect of Imports of Steel on U.S. National Security".

Section 232 slaat op het gelijknamige deel van de Trade Expansion Act, waarin de president van de VS bepaalde mogelijkheden heeft importtarieven in te stellen als 'foreign imports are found to be a threat to US national security'.

De uitleg van het onderzoek:

The study will consider overcapacity, dumping, illegal subsidies, and other factors, to determine whether steel imports threaten American economic security and military preparedness.

“We are going to fight for American workers and American-made steel by conducting a thorough investigation into steel imports,” said President Trump. “Thanks especially to Secretary Wilbur Ross for helping lead this critical effort.”

After a thorough investigation, if any national security threats from steel imports are identified, Secretary Ross will provide a report that includes recommendations for next steps.

De staalbedrijven wachten met smart op de uitkomsten van het onderzoek, die wat hun betreft allang bekend is. Het onderzoek zou in juni afgerond zijn, maar laat voorlopig nog op zich wachten.

Niettemin blijven staalbedrijven zich vasthouden aan de retoriek van The Donald.
"I'm stopping it".

Vorige week was er topoverleg tussen Amerikaanse en Chinese officials, maar men toog onverrichterzake (dat woord kunnen we in deze context letterlijk nemen) naar huis.

Nu de Amerikanen en de Chinezen er niet uitkomen én de dollar aan erosie onderhevig is, kan Europa weleens de favoriete bestemming van Chinees staal worden. Lakshi heeft er daarom zijn handen vol aan de Europese politici voor zijn staalkarretje te spannen.

De cijfers

Dan de cijfers.
KW1 was voor Mittal erg sterk, het beste kwartaal sinds 2012 en opgeteld met de consensus verkregen via Bloomberg voor KW2 komt ArcelorMittal voor het eerste halfjaar op een Ebitda van 4,4 miljard dollar. Dat is 60% meer dan in het eerste halfjaar van 2016.

Mittal zelf verzamelt de inschattingen van de analisten en publiceerde die gisteren op haar website.

zie link:

Enig licht in de duisternis kunnen we halen bij de concurrentie. Een aantal Amerikaanse staalboeren ging Mittal voor. Gisteren was het de beurt aan AK Steel en US Steel.

AK Steel behaalde een lagere omzet (-6,6%) maar maakte meer winst door een 10% hogere gemiddelde verkoopprijs. De koers vloog 12% omhoog. US Steel was gisteravond nabeurs aan de beurt.

US Steel is een bijzonder verhaal. Begin dit jaar gingen ze daar uit van een wpa voor 2017 van 3 dollar, dat werd bij de Q1-cijfers bijgesteld naar 1,50 dollar en gisteravond weer ietwat rechtgetrokken naar 1,70 dollar.

zie link:

Ook US Steel vloog 8 a 10% omhoog nabeurs. De CEO zei het volgende over de Europese divisie: "We are seeing a more bullish sentiment in the markets served by our Flat-Rolled and European segments right now, as prices have been increasing and overall demand has been stable."

Ook hier weer bewijs, net als gisteren bij Randstad, dat het momentum in Europa definitief toegeslagen is. Benieuwd of de familie Mittal dezelfde mening toegedaan is straks: Mittal is de baas in de Europese markten. Lijkt mij sterk als dat anders is.

Nucor licht lager

Een derde staalgigant is Nucor. Het Amerikaanse Nucor kwam 20 juli al met haar halfjaarcijfers. Die werden in eerste instantie slecht ontvangen, maar de koers trok een paar dagen later al weer bij.

Nucor's winst kwam licht lager uit dan in het eerste kwartaal. Ook Nucor maakt zich erg druk over de import van goedkoop staal uit met name China. Volgens de CEO van Nucor is die import ondanks alle maatregelen met 15% gestegen dit jaar en kwam in juni 29% van het totale staal uit het buitenland.

Teammates...

Apart bedrijf trouwens dat Nucor. Betaalt al 44 jaar achtereen een hoger dividend, wat een huzarenstukje is voor een staalbedrijf. Het noemt zichzelf bijzonder groen (ook de kleur van het jaarverslag) maar heeft een bloedhekel aan vakbonden. En bij Nucor heten de werknemers teammates.

Al die teammates staan vermeld in het jaarverslag, weliswaar in kleine lettertjes, maar ze staan erin. Zo groen is dat nou ook weer niet, als Walmart dat zou doen moeten we het halve regenwoud omhakken.
Nucor exporteert zo goed als niks en is volledig afhankelijk van de Amerikaanse markt.

Mittal vooral Europees

Dat is wel een groot verschil met Mittal, dat circa 22% van haar omzet uit de VS haalt.

zie link:

Het merendeel wordt verkocht in Europa (49%). Dat betekent dat de stijging van de eurodollar nog wel enig effect kan hebben. Gedurende Q2 steeg de eurodollar van 1,07 naar 1,14.

Het dollar-effect

Goed of slecht, is dan de vraag. Mittal rapporteert in dollars. Veel inkoopkosten gaan in dollars (scrap en coking coal bijvoorbeeld) wat dus goedkoper wordt. Het merendeel van de omzet wordt echter in Europa weggezet, waardoor die inkomsten hoger worden.

Schulden gaan ook grotendeels in dollars, en als ik even terugkijk naar 2015, toen de eurodollar in H1 de omgekeerde weg bewandelde (van 1,20 naar 1,05), leverde dat een verliespost op van ca. 120 miljoen dollar vergeleken met het jaar ervoor. Dat zat toen met name in een uitgestelde belastingbate die in euro's genomineerd was.

Per saldo zal dat in dollars meer moeten opleveren, of dat het geval is zien we donderdag. Vergeleken met het eerste kwartaal is de eurodollar zo'n 5% gemiddeld aangesterkt, 1,11 gemiddeld om 1,06.
Maar, zoals eerder gezegd, het vervelendste bijeffect van de stijgende euro/dollar is het feit dat de Chinezen hun overtollige staal nu liever op de Europese markt dumpen.

Overname Italiaanse Ilva

Nog even gekeken naar de overname van de Italiaanse staalfabriek Ilva. Dat had nogal wat voeten in aarde. Er was Mittal veel aan gelegen de Italiaanse fabriek in te lijven. U ziet op onderstaande kaart dat Italië nog een blinde vlek is voor ArcelorMittal.

Zie link:

Vertraagd	20 sep 2024 17:35
Koers	21,490
Verschil	-0,410 (-1,87%)
Hoog	21,820
Laag	21,320
Volume	4.233.326
Volume gemiddeld	2.559.460
Volume gisteren	5.484.574

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