DeBeurs.nl

voda 17 november 2017 12:22

0

Biggest solar power park in Central Asia to be built from NLMK electrical steel

NLMK Group, an international steel company with operations in Russia, the USA and the European Union, has supplied transformer steel to the Siemens Transformers plant based in the city of Voronezh, Central Russia. The steel product will be used to make a transformer for Burnoye Solar-2 solar power park, which is currently under construction in Kazakhstan. Together with Burnoye Solar-1, the first stage of the project, which was launched in 2015, the complex will be one of the largest solar generation facilities in Eastern Europe and the largest in Central Asia.

Source : Strategic Research Institute

voda 17 november 2017 12:23

0

Steel & Tube H1 earning may fall

Steel & Tube Holdings' first-half earnings may fall as much as 38 percent reflecting a writedown of inventory, restructuring costs and margin pressures. The guidance comes as the company holds its annual meeting in Wellington. First-half earnings before interest and tax would be USD 9 to USD 10 million below the year-earlier period it said in a statement. Underlying ebit was about USD 16 million in the first half of the 2017 year.

Steel & Tube, which manufactures and distributes steel building supplies, said reorganisation and restructuring "will have an unavoidable impact on short-term ebit, however, the benefits from this are expected to offset these costs over the remainder of the financial year."

In the first half, it said that the company has seen margin pressures from higher steel purchase prices, which the market took some time to pass on to customers. Steel & Tube "has increased selling prices across its portfolio of steel products from mid- November 2017. Margins are expected to improve in the second half of the 2018 financial year from improved pricing."

It said that full year ebit, excluding the inventory writedown, was expected to be about the same as 2017's USD 31.1 million. That would mark the third year without earnings growth.

Steel & Tube has undertaken an USD 80 million acquisition programme over the past four years, widening the scope of its business, while adding to costs and working capital. At the same time, it has been caught up in a Commerce Commission probe into steel building products and along with two other companies it is being prosecuted after an investigation into seismic steel mesh that the regulator alleges was misrepresented as complying with New Zealand standards.

In September, chief executive Mr Dave Taylor resigned after eight years running the company and director Mark Malpass was named as interim CEO. Chair Susan Paterson became a director in January and replaced John Anderson as head of the board when he retired in the first half.

Mr Paterson said that "Our strategy is to maximise value for our shareholders by creating a sustainable, long-term, successful business. The capital investment made into acquisitions and the business in the past five years has created a strong platform for Steel & Tube. However, we are very aware that the company has been too slow to realise the significant benefits and value from these."

Source : Business Desk

voda 17 november 2017 13:17

0

China’s Iron Ore import in October down – Report

Hellenic Shipping reported that China imported 79.5 million tonne of iron ore in October according to official trade data, down 2% YoY and down 25% from the all-time high in September (on an annualized basis). YTD Iron Ore import totals 897million tonne, which is up 7% as compared to last year. The full breakdown of the imports will be released later in the month.

Klaveness Research said that “The 25% drop from the previous month is not reflected in the trade flow data we are monitoring. The trade flow data point to a small 2% drop in seaborne volumes on an annualized basis. Thus, we do not think the market should read too much into the monthly drop in imports reported by customs. Chinese steel production growth was still strong as of mid-October. We believe the Chinese steel production growth will be lower going forward as curbs on steel production in the Northern part of the country starts to bite. However, the high margins from steel production should incentivize steel production at maximum capacity outside of the regions where production is being curtailed. In short, we do not expect a sharp fall in overall steel production or raw material demand going forward.”

Source : Hellenic Shipping

Bijlage:

voda 17 november 2017 13:22

0

US Steel tried to keep chemical spill secret at Indiana plant - Report

Post Gazette reported that environmentalists are questioning why the public wasn’t notified about an October chemical spill into a Lake Michigan tributary that US Steel asked Indiana regulators to keep confidential. Documents released by the University of Chicago’s Abrams Environmental Law Clinic show that US Steel’s plant in Portage, Indiana, released 56.7 pounds of chromium on October 25 after a wastewater treatment system malfunction. That’s nearly double what the plant is permitted to release of the potentially cancer-causing chemical over 24 hours.

A company official wrote to the Indiana Department of Environmental Management on October 31 asking that its submission about the release “be afforded confidential treatment under all applicable statutes.”

Law students at the University of Chicago obtained the letter while tracking pollution violations at US Steel and other factories along Lake Michigan as they prepare a planned lawsuit accusing the Pittsburgh-based company of repeatedly violating the federal Clean Water Act since 2011.

The same plant released nearly 300 pounds of hexavalent chromium in April because of a pipe failure, prompting closure of nearby Indiana Dunes National Lakeshore beaches and a drinking water intake for some communities in the area about 25 miles east of Chicago. Officials said that spill was almost 600 times the plant’s release limit.

US Steel said in a statement that it promptly communicated with the Indiana environmental agency on Oct. 27 about the second spill “and continues to work to ensure that there is no environmental impact.” The company declined to comment about the potential lawsuit.

Unlike the April spill, US Steel didn’t report the latest incident to the National Response Center, a warning system overseen by the US Coast Guard to alert local authorities about oil spills and chemical releases, records show.

US Steel said that “The October spill wasn’t serious enough to merit reporting and did not pose any danger to water supply or human health.”

Company spokeswoman Meghan Cox said Wednesday that its confidentiality request was made “due to business sensitive material” and has since been waived.

The Indiana environmental agency is reviewing whether proper notification procedures were followed, but excessive chemical releases typically don’t require spill notifications, spokesman Barry Sneed said.

Mr Mark Templeton, director of the Abrams Environmental Law Clinic, said he’s concerned about state and federal regulators not penalizing U.S. Steel since the April spill or notifying the public about the October release.

Source : Post Gazette

voda 20 november 2017 16:42

0

EU achieves progress on talks with China on steel dumping

News Europe reported that Brussels and Beijing have agreed to cooperate on trade and competition after the two sides set up a dialogue on state aid. The EU’s executive arm represented by the Commissioner for Competition Margrethe Vestager, met Chinese officials in Beijing on 15 November for the first time since they signed a memorandum of understanding in June, to enter into a new dialogue between the EU and China.

Relations have been fraught because of EU efforts to resist dumping of steel by Chinese companies receiving unfair state aid, but it seems that according to the European Commission, China agreed on it as important to cooperate to ensure good economic relations with the bloc.

Commissioner Vestager said that it is of both EU and China’s interest to cooperate to promote fair global competition. “Antitrust, merger review and State aid control are important tools in ensuring that consumers can benefit from competitive markets and companies can compete on their merits. Both the European Commission and the Chinese competition agencies will work closely together for a coherent and efficient competition enforcement.”

Vestager further added that the cooperation of both sides on state aid is important to prevent public policies from restricting competition or distorting the market. In this context, Vestager welcomed China’s adoption of a Fair Competition Review System designed to ensure State measures do not adversely affect market entry and exit and the free movement of goods.

The next step of this new dialogue is the Commission’s meeting at a technical level with the 28 ministries in charge of implementing the Fair Competition Review System in China. This cooperation between the EU and China will continue and both sides agreed to take stock of the dialogue at the next EU-China Summit in 2018.

Source : News Europe

voda 20 november 2017 16:43

0

Railways to get early deliveries of rails from JSPL if it wins tender - Mr Naushad Ansari

Press Trust of India reported that a top company official of JSPL, India's only private manufacturer of rails, said the company is confident of making early deliveries to the Indian Railways if it succeeds in securing the INR 3,500-crore rail tender. Over a telephonic conversation with PTI, Mr Naushad Ansari, CEO Steel Business, JSPL, said “It is a golden chance for JSPL (Jindal Steel and Power Limited) as the company has been looking to make inroads into the domestic rail segment for about a decade.”

The Ministry of Railways has recently floated a global tender to procure 7 lakh tonnes of rails worth INR 3,500 crore. This is the first time that the railways has come up with such a tender. Ansari reasoned that since the company has a capacity to produce 1 million tonne (mt) of rails, it is capable of fulfilling the Railways’ demand of 7 lakh tone alone.

The company supplies rails to other countries like Iran, Bangladesh, Mozambique and Brazil. It has yet to enter the domestic rail space as the Indian Railways has been procuring rails from SAIL under an agreement it had signed with the PSU, Ansari said. “If we are able to bag the order, this will be the first big opportunity for us,” he added.

Source : Press Trust of India

voda 20 november 2017 16:43

0

Rising gas prices hurting Essar Steel – Report

Business Standard reported that the global rise in natural gas prices, coupled with a bullish outlook for the commodity, is causing worry among select domestic steel, with capacity utilisation dropping. The Ruias owned Essar Steel is seeing dwindling utilisation amid rising gas prices. The company has a 10 million tonne annual capacity, of which 70 percent is gas-based; it relies largely on imported gas, whose landed cost for Essar has risen to USD 10.16 per mBtu, from USD 7.4 per mBtu in June. A source told Business Standard that “This three-dollar rise translates into an additional cost of INR 2,500 a tonne of steel making.”

While company officials declined to comment, they said volatility in gas prices was a challenge.

Globally, natural gas prices have been on a rise due to coming winter demand amid a 5.5% drop in US natural gas inventories over last year. Experts say after exceptionally low average prices in 2015 and 2016, these are likely to rise both in 2017 and 2018. The price in the US market is currently USD 3.09 per mBtu, up almost 20% from USD 2.56 per mBtu in February, after a peak of USD 3.44 per mBtu in May.

Source : Business Standard

voda 20 november 2017 16:44

0

Digitisation will benefit steel industry – Mr Atanu Mukherjee of MN Dastur

Business Line reported that adopting digital technology, particularly in the areas of core operations and supply chain management, can boost the EBIDTA margins of steel makers. According to Mr Atanu Mukherjee, President, MN Dastur & Co, digitisation is likely to bring down costs by 5-15 per cent, depending on the segment where it is implemented. Mr Mukherjee told BusinessLine that “It is not unusual to get up to 25% cost reduction in certain areas such as operations. In case of supply chain it is slightly less. Probably in the range of 8 to 10%. Overall, cost reduction across the entire plant could be 5 to 15%, translating into higher EBIDTA of 4 to 10%.”

According to Mr Mukherjee, future capital expenditure in steel will be backed by matching investments in digital technology. But investments that have already happened seem to hold a bigger potential. He said that “If existing players do not adopt, they will be at a competitive disadvantage.”

He told “Application of digital technology in the area of capital investment will help cash flows to improve. Capital investment cycles in the steel industry are fraught with risks and delays. Understanding the capital investment cycle and managing it by using digital technologies will help companies to look at plants even before they are built by using virtual stimulations. This could help cut down the actual cycle time and improve cash flows. The project viability also becomes better. There is also an opportunity cost; instead of five or seven years which it takes right now, companies might complete the project in four years. So they will be able to sell steel earlier, which adds to the cash flows.”

There is a lot to be done on the operational front of steel plants. The productivity of most steel plants in India is close to 300 tonnes per person a year, while it is as high as 2,500 tonnes per person in the US.

Source : Business Line

voda 20 november 2017 16:49

0

Chicago to sue US Steel over toxic spills – Mayor

Chicago Tribune reporte that the city of Chicago is expected to take the first step toward filing a federal suit against US Steel, alleging the company repeatedly violated the Clean Water Act following a pair of toxic spills into Lake Michigan waterways near its northwest Indiana plant, city officials announced Sunday. Mayor Rahm Emanuel was joined by leaders of several local environmental organizations at a news conference Sunday at City Hall where he declared the city will file a notice of intent to sue US Steel on Monday morning.

The announcement comes after the company’s Midwest plant in Portage, Ind., dumped more than its permitted amount of chromium into a Lake Michigan tributary on two separate occasions this year.

Source : Chicago Tribune

voda 20 november 2017 16:53

0

China Chongqing Steel creditors agree to debt-for-equity swap – Report

Reuters quoted sources with knowledge of the matter as saying that creditors of Chongqing Iron & Steel Co have voted to accept a debt-for-equity swap plan to restructure nearly 40 billion yuan (USD 6.04 billion) in debts, giving the state-owned enterprise some reprieve as debt-servicing costs rise. The debt plan will see the company pay in cash portions of claims up to and including 500,000 yuan, and issue new shares for the portions of claims exceeding that level.

In a sign of their eagerness to reclaim money, lenders will receive new shares at 3.68 yuan per share, a 71% premium to their last traded price in Shanghai. The shares, to be issued before the end of the year, will not be subject to a lock-up period, a source said.

Trading of Chongqing Steel’s Shanghai-listed A-shares has been suspended since Aug. 1.

A creditor who asked not to be named because of sensitive business relationships said that “We’re at the back of the line behind the banks and so on, so speaking for myself this is a relatively good outcome.”

Source : Reuters

voda 20 november 2017 16:54

0

US Steel responds to City of Chicago’s press conference

United States Steel Corporation has issued a statement in response to the City of Chicago’s press conference held. It said “US Steel is committed to complying with all environmental standards, to ensuring the safety of our employees and our neighbors in the communities in which we live and operate, and to safeguarding our shared environment. We take that responsibility very seriously and recognize this as a critical aspect of our role as a member of each community in which we operate. We also take every incident seriously. We have worked with appropriate government agencies in the past as effectively as possible and continue those efforts as part of our work to continuously improve our environmental compliance processes.”

Source : Strategic Research Institute

voda 20 november 2017 16:56

0

voestalpine Bohler Welding announced winner of Solvator Award

Filler metal provider voestalpine Bohler Welding held an event Sept. 26 at Schweißen & Schneiden 2017 for 350 invited customers to present the first Solvator Awards. The company gave out nine awards in four categories, recognizing projects by fabricators who collaborated with the company’s application services.

The Golden Solvator Award for best technical solution was granted to the French military shipyard Naval Group for the joint development and qualification of a flux-cored wire for the welding of submarines in high-strength steel. voestalpine Böhler Welding application services advised on the type of cored wire to use and further improved it after testing by the yard’s R&D department.

The Golden Solvator Award for most efficient solution was earned by Felguera Calderia Pesada in Spain for the high-deposition electro slag strip cladding of Alloy 825 in two thin layers onto heavy-wall-thickness reactor steel. For this application, voestalpine tested an over-alloyed 825 grade strip with a newly developed high-speed flux and offered support in the qualification and implementation of welding procedures.

The Golden Solvator Award for most environmentally friendly solution was given to the Moroccan constructor Prominox for its contribution to the Moroccan Noor solar power project: three unalloyed steel tanks and one tank in AISI 347H stainless steel. voestalpine supported the company in the selection of the welding consumables, the establishment of welding procedure qualifications, and the on-site training of the welders.

The Golden Solvator Award for the best value package was granted to General Electric India for the fabrication of locomotive truck frames (bogies), involving the joining of IS 2062 grade cast to forged steel. The metal-cored wire suggested by voestalpine passed all destructive and non-destructive test requirements.

Source : The Fabricator

Bijlage:

voda 20 november 2017 16:57

0

Imported flat steel buying in Iran thin over lower domestic prices

Financial Tribune reported that buying activity in the Iranian flat steel import market was modest in the week to Nov. 15, as prices for foreign material were significantly higher than the domestic market.

One reason for high import flat steel prices in Iran is increased cost of freight in the Caspian Sea basin sparked by a massive increase in grain shipments to the country, which has led to the lack of vessels.

The cost of freight from the Russian port of Astrakhan is USD 45 to USD 46 per tonne, against a normal rate of USD 20 per tonne. Transportation from Kazakhstan’s Aktau Port costs USD 30 to USD 31 per tonne, against the typical rate of USD 15 per tonne.

Metal Bulletin’s price assessment for imported 2 mm hot-rolled coil in Iran was USD 560-575 per tonne CFR Iranian ports on Nov. 15, compared with USD 565-575 per tonne CFR a week earlier.

Offers from Russian mills were reported coming in at EUR 450 (USD 529) per tonne FOB Astarkhan.

One cargo for end January shipment was booked by a trader at the mentioned price. The tonnage was not disclosed.

Considering the current cost of freight from the port to Iranian northern port Anzali of USD 45-46 per tonne, which would be equivalent to USD 574-575 per tonne CFR.

Some sources, however, considered that a discount of around EUR 10 per tonne could be achieved, had the tonnage been big enough.

Recent bookings for Kazakhstan-origin material were reported at USD 535 per tonne FOB Aktau, or USD 565 per tonne CFR Anzali, considering USD 30 per tonne freight cost between the two ports.

The price assessment for imported cold-rolled coil in Iran narrowed to USD 605-620 per tonne CFR Iranian ports on Wednesday, against USD 600-626 per tonne a week earlier.

Kazakhstan-origin CRC was available in the market at USD 570 per tonne FOB Aktau, or USD 600 per tonne FOB Anzali.

However, the price was considered too high by customers.

One trader said that “[The price of USD 600 per tonne CFR] is too expensive, considering that in the local Iranian market you can buy the material at USD 550-560 EXW.”
Russia-origin CRC was said to be available at €490 per tonne FOB Astarkhan.

In the coated steel segment, the situation was the same, with customers preferring domestic material because of more competitive prices.

China-origin hot-dipped galvanized coil with 1 mm thickness was available in Iran at USD 695 per tonne CFR, sources said.

Considering the 26% import duty, 9% VAT tax and 3% transportation costs, this would be equivalent to USD 959 per tonne.

In the domestic market, the material of similar thickness is available at USD 880 per tonne EXW.

Therefore, sources said workable price for import HDG coil should not exceed USD 640 per tonne CFR.

Metal Bulletin’s weekly price assessment for import HDG coil in Iran was USD 640-695 per tonne CFR, falling by USD 15 on the lower end from the previous range of USD 655-695 per tonne CFR.

Source : Financial Tribune

voda 20 november 2017 16:58

0

Russia builds a pilot furnace to produce cast iron from metal industry waste

Sputnik reported that designed by NUST MISIS, the pilot facility is intended to recycle industrial waste for the subsequent production of cast iron and to produce combustible gas from carbonaceous waste. The reactor has evoked heightened interest in the Russian power industry and among producers of ferrous metals. A research team at the National University of Science and Technology MISIS, jointly with its industrial partner, Vtoraluminprodukt Company, has built and launched in Mtsensk, Oryol Region, a unique pilot plant bubbling reactor designed for the efficient and environmental-friendly production of iron and concentrate of non-ferrous metals from waste sludge, a spokesperson for the university press service told RIA Novosti.

Designed by NUST MISIS, the pilot facility is intended to recycle industrial waste for the subsequent production of cast iron and to produce combustible gas from carbonaceous waste. The reactor has evoked heightened interest in the Russian power industry and among producers of ferrous metals.

Over 95% of cast iron in the world today is produced by blast-furnaces, powerful installations putting out thousands of tons of metal per day. But ordinary blast-furnaces require preprocessed high-quality raw materials, and it is economically unfeasible or downright impossible to use them for processing waste. In the meantime, Russian factories alone produce over five million tons of secondary raw materials per year.

The innovative furnace is based on the bubbling principle in which gas bubbles that rise in the melt are captured. The end goal is to recover the melt mixed composition to clean cast iron.

The furnace turns iron-ore concentrate into a melt at between 1,400 and 1,500 degrees Celsius. Gaseous carbon monoxide is then used to purge impurities of carbon dioxide and nitrogen from the melt.

The bubbles that form in the process considerably accelerate the chemical reactions in the bath and intensively mix the ferrous melt and slag (metal industry waste).

According to the researchers, the new technology could spark a revolution in the iron-and-steel industry.

Mr Gennady Podgorodetsky, team head and director of the Innovative Metallurgical Technology Scientific and Educational Center said that “We have improved the Romelt technology created at NUST MISIS back in the 1980s by dividing the reactor into melting and recovery zones. Ferrous materials, steam coal and fluxing additives are delivered to the surface of the melt bath. Coal is sucked in by slag flows to the lower zones of the bath, where it burns emitting carbon dioxide and water vapors. Next the melt flows to the recovery zone, where it is finally recovered to clean cast iron.”

According to the researchers, the most important advantage of their method is its reduced specific energy consumption (20-30% less than the best world analogs). Moreover, it can suppress the formation of substances that are particularly harmful for the environment.

A successful test of the method and subsequent mass production of the installations will result in waste-free ferrous and non-ferrous metallurgy and have a powerful positive impact on the environment.

He said that “If requested by a customer, the composition of slag can be selected for subsequent processing into slagstone products, heat-insulating slag wool, or intermediate products for the cement industry. The installation’s unique design reduces the consumption of energy to 500 kg of coal and 500 nm of oxygen per ton of cast iron. As a result, we process junk industrial waste and obtain cast iron, commodity slag and concentrate of non-ferrous metals. Our method is waste-free. The pilot specimen is also intended to streamline the method for waste-fee gasification of numerous carbon-containing wastes, including municipal solid waste.”

Source : Sputnik

Bijlage:

voda 20 november 2017 17:13

0

Steel experts present anti counterfeit measures to GCC contractors

Construction Week Online reported that members of the Steel Alliance Against Counterfeiting presented a series of anti-counterfeit measures during an open conference at Abu Dhabi Petroleum Exhibition & Conference 2017. Those in attendance included engineering, procurement, and construction contractors, and other stakeholders from the Middle East’s oil and gas industry. SAAC members explained how they had implemented new anti-counterfeiting measures designed to mitigate the risk of receiving fake products, and conducted training workshops for their introduction.

A recent study commissioned by SAAC, which comprises 18 manufacturers of steel tubular products, found that 53% of industry professionals in the GCC have personally encountered fake steel products during their day-to-day operations. 79% of respondents supported tighter controls on steel products imported from certain markets.

Speaking at the conference, association members said that they welcomed the announcement of the latest UAE Fire and Life Safety Code, which they described as a crucial step towards increasing quality standards in the safety of building materials, design, and construction, as well regulating the responsibilities of stakeholders during project execution.

SAAC members also applauded the implementation of the GCC Trade Mark Law, which they said would serve to strengthen border protection and offer more stringent sanctions against counterfeiters.

Source : Construction Week Online

voda 20 november 2017 17:15

0

Kobe Steel scandal - Nine nuclear reactors in Japan used products

Japan Times reported that nine reactors at five nuclear power plants in Japan, including some currently in operation, have used products manufactured by the Kobe Steel Ltd. group which has admitted fabricating product quality data, it has been learned. According to documents shown at a meeting of the Nuclear Regulation Authority on Wednesday, the active reactors are the No. 3 and No. 4 units at Kansai Electric Power Co.’s Takahama plant in Fukui Prefecture and the Nos. 1 and 2 units at Kyushu Electric Power Co.’s Sendai plant in Kagoshima Prefecture.

The others are the Nos. 3 and 4 units at Kansai Electric’s Oi plant in Fukui, the Nos. 3 and 4 units at Kyushu Electric’s Genkai plant in Saga Prefecture, and the No. 3 unit at Shikoku Electric Power Co.’s Ikata plant in Ehime Prefecture.

Kobe Steel’s welding rods were used during assembly work at all nine reactors, and reinforcing bars and parts in some reactor containment vessels use hexagon bolts manufactured by the company.

The utilities told the NRA that the products are not among those affected by the data fabrication scandal and, thus, pose no safety problems.

The welding rods were also used for water tanks which are used to store contaminated water at Tokyo Electric Power Company Holdings Inc.’s crippled Fukushima No. 1 plant, it was also found.

Source : Japan Times

voda 20 november 2017 17:16

0

Spilled molten metal damages Timken Steel plant

Clevland19 reported that firefighters said that molten metal spilled from a ladle on the 3rd floor of the Timken Steel plant caused extensive damage to three floors. The fire happened late Thursday. There were no injuries to either firefighters or steel plant personnel. The cause of the spill remains under investigation.

When Canton firefighters arrived at the plant, they worked with the Timken Steel Fire Brigade to organize a plan of action to put out the fire.

A spokesperson for Timken Steel said that the building and wiring were damaged, but the equipment was not affected.

The spokesperson for Timken Steel adds the company had a planned maintenance outage scheduled in Dec.

They are now planning on moving up the scheduled maintenance and doing repairs at the same time. This way, Timken will not have to close as planned in Dec.

The company also believes production of steel won't be significantly impacted.

Source : Clevland19

voda 20 november 2017 17:17

0

India mine minister likely to cut iron ore export tax – Report

Reuters reported that India is considering scrapping or reducing a 30 percent export tax on medium-grade iron ore after building up a stubbornly high surplus of the commodity. India’s mining industry has lobbied for months for a cut in the duty after the country’s stockpile rose over the last five years to reach 149 million tonnes at the end of the financial year in March 2017. The duty is applied to ore with more than 58 percent iron, or Fe content.

The mines ministry favours either cutting or scrapping the tax but the steel ministry wants to maintain the levy at 30%.

The mines ministry said in the document that “The major share of the stocks lying idle is ... below 58 percent Fe grade iron ore fines and iron ore fines with Fe content of 60 percent to below 62 percent, which is a huge cause of concern for the miners as well as the ministry.”

It said that “The main objective of the committee is to assess whether a reduction/abolition in export duty in iron ore is required in the current economic scenario and if required, its impact on production, consumption, price elasticity of iron as well as its domino effect.”

The ministry has circulated its document to the steel, finance and commerce ministries for discussion.

The steel ministry, however, has opposed cutting the duty amid concerns in the steel industry that a lower export duty could lead to a domestic shortage of iron ore, two steel ministry officials, who also spoke on condition of anonymity.

One of the officials said that “We should look at value-addition such as pelletisation of the ore to generate demand from the stockpile. Pellets are mostly used for the production of sponge iron in gas-based plants.”

The mines ministry official on condition of anonymity said that “There is one more meeting to be held soon, where we are likely to take a decision and send it to the minister of mines for his comments, as the discussions have not yet been made public.”

The commerce ministry will make a final decision on the matter.

The government may decide to cut the duty in its 2018/19 budget statement, likely in February, the mines ministry official said.

Source : Reuters

voda 20 november 2017 17:20

0

NMDC produces record 7.18 million tonne iron ore in Q2 FY18

State owned miner NMDC reported a record iron ore production of 7.18 million tonnes during the quarter ending September this year. The production in July-September 2017 was 14 percent more compared to 6.31 million tonnes of iron ore produced by the company during the same quarter of 2016-1. The country's largest iron ore producer said it has achieved this record "in spite of volatile situation in global iron and steel market." The sales of iron ore during the said quarter were at 8.30 million tonne, 3.62 percent higher from 8.01 million during the three-month period a year ago.

It said that "NMDC's production of iron ore for the first half (financial) year 2017-18 is 15.67 million tonne registering a rise of 13 percent over CPLY (corresponding period last year) and sales of iron ore is 17.48 million tonne which is up by 11 percent over the CPLY.”

Voor cijfers, zie bijlage.

Source : Strategic Research Institute

Bijlage:

voda 20 november 2017 17:22

0

Dode en zwaargewonden bij explosie in fabriek Gent
Foto: ANP
Gepubliceerd: 20 november 2017 16:22
Laatste update: 20 november 2017 16:58

Bij een explosie in een fabriek van staalproducent ArcelorMittal in de haven van Gent zijn maandag een dode en twee zwaargewonden gevallen.
Ook werden er enige tijd enkele mensen vermist, maar zij zijn inmiddels allemaal terecht. Dat meldt VTM Nieuws.

Een zogenoemde benzoltank in een cokesfabriek zou zijn ontploft bij het vullen. Mogelijk zijn giftige dampen vrijgekomen. Daarom is het medisch rampenplan afgekondigd.

Aangezien er een zuidenwind staat, bestaat de kans dat er maatregelen worden genomen in Zeeuws Vlaanderen.

Door: ANP

www.nu.nl/buitenland/5015363/dode-en-...

Vertraagd	19 apr 2024 17:35
Koers	23,830
Verschil	+0,030 (+0,13%)
Hoog	23,880
Laag	23,440
Volume	2.845.773
Volume gemiddeld	2.432.086
Volume gisteren	2.676.573

16 apr	Deutsche Bank haalt ArcelorMittal van...	1
12 apr	Video: cyclische aandelen bieden kansen
09 apr	World Steel Organisation ziet vraag n...
22 mrt	Mondiale staalproductie in de lift
12 mrt	ArcelorMittal neemt groot belang in V...
05 mrt	Beursblik: experts vinden koerswinst ...
23 feb	Mondiale staalproductie daalt opnieuw
08 feb	ING: ArcelorMittal doet het beter dan...
08 feb	Fors verlies voor ArcelorMittal
06 feb	Beursblik: winstgevendheid ArcelorMit...

Arcelor Mittal « Terug naar discussie overzicht

Nieuws en info hier plaatsen (deel 4)

Meedoen aan de discussie?

Direct naar Forum

Detail

ArcelorMittal nieuws meer