DeBeurs.nl

voda 8 juni 2018 20:51

0

Trump Trade War - Tariffs are sanctions against EU, Mexico, Canada - Mr Putin

TASS reported that Russian President Vladimir Putin, at the annual Q&A session on Thursday, said that the US steel and aluminum tariffs are in principle sanctions. He said "Apparently, our partners thought that they would never be affected regarding this counterproductive policy related to restrictions and sanctions. However, we see now that it is happening. Introduction of protective steel and aluminum tariffs not only for Europe, but also for Canada, for Mexico - in principle those are sanctions, though put in other terms.”

According to Putin, tariffs imposed by Washington are related to the country’s national interests as seen by its current leadership. He said "This brings us back to the necessity of developing common consistently accepted rules of conduct in the area of both security and economic cooperation.”

Source : TASS

voda 8 juni 2018 20:52

0

Mechel and JFE Steel extend coking coal supply contract till 2021

Mechel PAO, one of the leading Russian mining and metals companies, reported prolonging its long-term deal for coal supplies with Japan’s JFE Steel corporation, a major steel mill in Asia Pacific, by another three years. The agreement will be in force until June 2021.

According to the agreement, Mechel will annually supply JFE Steel up to 1.5 million tonnes of metallurgical coals — coking coal concentrate produced by Yakutugol Holding Company AO as well PCI produced by Southern Kuzbass Coal Company PAO. The price will be determined based on the market situation. JFE Steel also voiced its willingness to acquire additional volumes of coking coal concentrate produced by Elgaugol OOO, which volumes and supply conditions are to be discussed further.

JFE Steel has been buying Southern Yakutia’s coals for over 30 years and has always been Mechel’s longstanding and reliable partner.

Source : Strategic Research Institute

voda 8 juni 2018 20:53

0

Trump Trade War -More jobs to go in US - Report

White House National Trade Council Director Peter Navarro recently cited a new aluminum mill being built in Kentucky as evidence that the Trump administration’s “tough trade actions” are revitalizing American manufacturing. While he calls this “a poster child for the success” of the president’s policies, the reality is that higher costs from tariffs on steel and aluminum imports will hurt American jobs much more than they help.

In March, my firm examined the potential impacts of steel and aluminum tariffs, finding that while over 26,000 steel and aluminum jobs would be created, higher costs from tariffs and retaliation from America’s trading partners would also mean over 495,000 jobs lost elsewhere in the economy. For every American job gained, more than 18 jobs would be lost. These estimates assumed that Canada and Mexico would escape the tariffs; as they did not, we should expect the job loss to grow.

All states would lose more than they win. Michigan: over 14,000 net jobs lost. Ohio: over 15,700 net jobs lost. Pennsylvania: over 16,500 net jobs lost. Wisconsin: over 8,900 net jobs lost.

In Kentucky, the home of the aluminum mill Navarro refers to, while nearly 600 jobs would be created in that state’s steel and aluminum industries, over 7,200 jobs would be lost elsewhere in the state.

Stories of manufacturers of all sizes being harmed by the administration’s steel trade policies are multiplying. In Ohio, a construction equipment manufacturer did away with a plan to hire at least 30 workers after the cost of steel increased by one-third. In Pennsylvania, a cylinder manufacturer CEO said the tariffs would add 10% to the cost of its products. Compensating cost cuts will impact workers soon enough.

These tariffs are a poster child, all right, for job-killing economic policy, far from making America great.

Source : USA Today

viermeiden 11 juni 2018 08:01

0

LUXEMBURG (AFN) - Staalconcern ArcelorMittal is begonnen met de bouw van een afzuiginstallatie voor hoogovens in Gent. De nieuwe installatie vangt gas met CO2 af en zet het om in bio-ethanol. Met het project is 150 miljoen euro gemoeid.

ArcelorMittal werkt voor het project samen met het Amerikaanse LanzaTech, dat het systeem bedacht. Volgens de staalproducent kan de techniek helpen de sector CO2-neutraal te maken.

Als de afzuiginstallatie eenmaal werkt, bespaart die jaarlijks net zoveel CO2 als het equivalent van 100.000 elektrische auto's. De bouw, waar 500 mensen aan werken, moet over twee jaar voltooid zijn. Als de installatie werkzaam is, levert dat twintig tot dertig baneN

viermeiden

voda 11 juni 2018 18:59

0

Elliott kritisch over fusie ThyssenKrupp-Tata

Gepubliceerd op 11 jun 2018 om 11:51 | Views: 840

ArcelorMittal 17:35
28,60 +0,56 (+1,98%)

THYSSENKRUPP AG O.N. 08 jun
23,34 -0,52 (-2,18%)

ESSEN (AFN/BLOOMBERG) - De activistische investeerder Elliott is kritisch over de voorgenomen fusie van de Europese staalactiviteiten van het Duitse ThyssenKrupp met die van het Indiase Tata Steel, het moederbedrijf van de voormalige Hoogovens in IJmuiden. In een brief aan topman Heinrich Hiesinger van ThyssenKrupp dringt Elliott er bij het bedrijf op aan betere voorwaarden af te dwingen voor de deal.

In de brief wijst Elliott op het verschil in prestaties bij de Europese staaldivisies van ThyssenKrupp en Tata. De winst van ThyssenKrupp stijgt terwijl die van Tata juist daalt. Als de fusie onder de huidige omstandigheden doorgaat dan zou dat een misser van 1,9 miljard euro voor ThyssenKrupp betekenen, aldus de investeerder. Het Amerikaanse Elliott vindt wel dat de samenvoeging zinvol is gezien de consolidatie in de Europese staalsector.

In mei werd bekend dat Elliott een belang heeft genomen in ThyssenKrupp. Naar verluidt deelt grootaandeelhouder Cevian Capital met 15 procent van ThyssenKrupp de mening van Elliott wat betreft de deal met Tata. Cevian zou willen dat het concern uit Essen een compensatie van wel 2,5 miljard euro krijgt van Tata als de transactie door wordt gezet.

Knoop

Er wordt al lange tijd onderhandeld tussen ThyssenKrupp en Tata over de geplande samenvoeging van de Europese activiteiten. Vorige maand liet ThyssenKrupp nog weten spoedig met een definitief besluit te zullen komen over de transactie. Mogelijk kan voor eind juni de knoop doorgehakt worden. Overigens heeft topman Hiesinger zijn lot verbonden aan het slagen van de deal met Tata.

Bij de ondernemingsraden, werknemers en vakbonden bij ThyssenKrupp en Tata in IJmuiden waren er ook zorgen over de deal, vooral vanwege banenverlies. De bedrijven verwachten dat er 400 miljoen tot 600 miljoen euro aan kostenbesparingen te behalen vallen door het schrappen van 4000 arbeidsplaatsen. In Nederland heeft Tata een principeakkoord bereikt met de bonden over de fusie, nadat duidelijk werd dat hier er hoogstens vierhonderd arbeidsplaatsen verdwijnen.

voda 11 juni 2018 19:25

0

Punjab industrialists worry as steel prices touch all-time high

Times of India reported that industrialists of Punjab are disturbed over the continuous rise of steel prices in India and living under constant fear that if this trend keeps on going like this, then it will defeat the ‘Make in India’ project and China will get a competitive edge in the world steel market. Representations are being sent to the ministry concerned to check the rising price of steel or it will have an impact on every other sector associated with it, like cycle and cycle parts, auto parts, machine tool, hand tools, construction material. To solve this problem it is being demanded that the Steel Regulatory Commission should be constituted by the government.

Amit Goswami, MD, Euro Forge, said, “Hand tool production has gone down to 50% due to inflated steel prices. We have to put money from our pocket for the production and send the order to foreign companies or else they would not place orders in future. World over the prices of steel were going down as the USA had put sanction on steel and due to this the prices of steel were seeing a downward trend all over the world. But in our country due to benefits being given to non-performing assets, prices of steel are sky high.”

Sandeep Verma, chairman, Exports and International Business, Baddi Barotiwala Nalagarh Industries Association, said, “Due to prices being at an all-time high, production and exports are being affected and it will also result in job losses if the things continued the same way.”

Badish Jindal, president, Federation of Punjab Small Industries Associations, stated “Representations have been submitted to the ministry time and again to constitute the commission. No one is paying heed to this demand.”

As per report “The price of steel has gone up to INR 47,000 per tonne and this does not include GST and if 18% is added to it, the price further goes up to INR 55,000 per tonne. The price for the same was INR 28,000 per tonne in November 2017, which increased to INR 39,000 in May.”

Source : Times of India

voda 11 juni 2018 19:26

0

India saved INR 5,000 crore forex post new steel policy- Dr Aruna Sharma

PTI quoted Steel Secretary Dr Aruna Sharma as saying that the rollout of new steel policy saved forex of INR 5,000 crore since last year. She told PTI “Immediately after the roll out of the policy in May 2017, an estimated savings of around INR 5,000 crore worth of foreign exchange has been achieved as of now.”

She also said that around 24 million tonnes of crude steel capacity was added during past four years and India replaced Japan as the second largest steel producer this year. Steel production capacity has increased from 110 MT in 2014-15 to 134 MT in 2017-18, while 7 MT was added in 2017 alone, she outlined.

She added "We are not going to stop here. We all know about the ambitious National Steel Policy (NSP) announced last year under which we have set a target of raising the capacity to 300 MT by 2030 and produce 250 MT of crude steel. Plans for further expansion are already on anvil. At the current pace and outlook of the industry, steel making capacity is expected to reach 150 MT mark by 2020.”

Indian steel sector has been growing at a compounded annual growth rate (CAGR) of about 5% over the past four years on account of improvement in the overall capacity utilisation, she said.

Source : PTI

voda 11 juni 2018 19:28

0

Bhushan Steel appoints 2 additional directors on board

Bhushan Steel Ltd announced that it has appointed two new officials on the board of the company. The entire BSL management was changed last month after Tata Steel took control of the company. In a regulatory filing, BSL said that "The Board of Directors of the company has appointed Neera Saggi and Shashi Kant Maudgal as Additional Independent Directors of the company."

Ms Neera Saggi has done Master of Business Administration from International Centre of Public Enterprise, Slovenia and also holds a Master Degree in English Literature from Delhi University and Bachelor of Arts (H). She has 34 years of experience, both of the government and private sector in leadership and entrepreneur positions. Ms. Saggi has been the CEO, L&T Seawoods Private Limited, promoted by Larsen& Toubro Ltd, one of India's largest private sector Infrastructure company. Presently She is the Chairperson of Care India, and on Board of CARE International.

She also serves on the Boards of GE T&D India Limited, Swaraj Engines Limited, GE Power India Limited. TRF Limited, Mahindra Heavy Engines Limited, Tata Projects Limited. Tata Realty and Infrastructure Limited etc. She is also a member of Board of Governance, IIM Amritsar

Mr Shashi Kant Maudgal has done Advance Management Program from Harvard University, Master of Business Administration from Indian Institute of Management, Kolkata and Bachelor of Technology in Chemical Engineering from Indian Institute of Technology, Delhi. Mr Maudgal is presently serving as Chief Executive (Integration) at Ultra Tech Cement, an Aditya Birla Group company.

He has held various positions in Birla Group such as President of Novelis, Chief Marketing Officer for aluminium business, Executive President of marketing business and Chief Executive Officer of Foil and' Wheel business He is currently serving on the Board of The Tinplate Company of India Limited

It also said that the officials "appointed as additional independent directors to hold office up to the date of the ensuing Annual General Meeting of the Company or due date thereof, whichever is earlier.”

Source : Strategic Research Institute

voda 11 juni 2018 19:29

0

Corinth to manufacture Karish steel pipes

TechnipFMC has contracted Corinth Pipeworks Pipe Industry to manufacture and supply steel pipes for Energean’s Karish gas field development in the Mediterranean Sea offshore Israel. The agreement covers 90 km (56 mi) of 24-in. and 30-in. LSAW pipe material for the offshore gas pipeline: this will connect the subsea manifold at a maximum water depth of 1,750 m (5,741 ft) to the receiving terminal onshore.

Pipe manufacture and coating will start at Corinth Pipeworks facility in Greece later this year.

Source : Strategic Research Institute

voda 11 juni 2018 19:29

0

Indian, Iranian Companies Line Up to Buy ESCO Majority Stake

Financial Tribune reported that Iran’s Social Security Organization’s financial obligations as well as the heavy burden of underperforming assets on its investment arm and ESCO’s majority stakeholder, SSIC, have prompted the SSO subsidiary to try lightening its portfolio by about USD 2.85 billion. SSIC controls a 55.99% stake in ESCO, which is listed on Iran Fara Bourse’s second market with a total of 22.27 trillion rials ($530.3 million) in market capitalization

Esfahan Steel Company's major shareholder is planning to sell its stake in the veteran Iranian steelmaker and potential domestic and foreign buyers have already lined up, the managing director of majority stakeholder Social Security Investment Company said.

Rumors had it this week that the block shares' main buyers were two domestic firms as well as an Indian company.

Source : Financial Tribune

voda 11 juni 2018 19:30

0

Metalloinvest and TMK review partnership and set out future plans

Metalloinvest and TMK have held their latest coordination meeting, at which the companies discussed their partnership over the past two years and the prospects for future collaboration. The event took place at the Volga Pipe Plant production facility (part of TMK). The Metalloinvest delegation was led by Andrey Prosyanik, Director of Domestic Sales, Management Company Metalloinvest. The TMK delegation was headed by Sergey Marchenko, Deputy General Director for Procurement, TMK.

During the meeting, the discussion focused in particular on the implementation of supply contracts for rolled steel products from Ural Steel (part of Metalloinvest) to Volga Pipe Plant. The delegations discussed quality control issues, including proposals for the future development of the production of flat products. The parties also reviewed possibilities for expanding Metalloinvest’s supply of pipe billets to other TMK facilities.

During their visit, Metalloinvest representatives visited Volga Pipe Plant’s production facility for large-diameter pipes, as well as hot-rolled pipes used for the oil and gas industry, among other applications.

Metalloinvest and TMK have a long and successful history of collaboration. Metalloinvest supplies pipe billets, flat products, bars and hot briquetted iron to TMK enterprises.

Source : Strategic Research Institute

voda 11 juni 2018 19:30

0

Ajaokuta Steel needs USD 652 million to reactivate - Ministry

Punch NG reported that Nigeria Ministry of Mines and Steel Development, said that 652 million dollars is estimated to reactivate equipment and machines at the Ajaokuta Steel Company Ltd. The Minister of State, Mr Alhaji Abubakar Bwari, said this shortly after he received the Report of a Technical Audit from the Sole Administration of the company, Sumaila Abdul-Akaba.

The News Agency of Nigeria reports that the Federal Government had set up the Technical Audit to find out how much was required to complete the Steel Plant.

According to the minister of state, the estimated amount is part of recommendations contained in the Technical Audit Report presented to him.

Mr Bwari said following completion of work by the Technical Audit, the next line of action was for the ministry to appoint transaction advisers to advise the Federal Government on the best strategy to adopt to operate the Steel Plant.

He commended the Nigerian Society of Engineers for recommending capable engineers that conducted the Technical Audit. He added that “I am pleased to see that our local engineers conducted the technical audit successfully, some have suggested that foreigners should conduct the process but we can see the good job our own engineers have done.Today, we know what is remaining to be completed in the plant and what to do within a stipulated time, we need to start work on areas that are remaining.”

He further said that “I want to appreciate those that preserved the steel plant thus far that made it not to become moribund.”

Earlier, Abdul-Akaba said that the engineers were able to discover that the Plant had attained 95.7 per cent completion, and not 98 per cent that had been reported.

According to him, the engineers have also come up with lots of recommendations that will revive the Ajaokuta Steel Plant.

Ajaokuta Steel Plant is sited on 24,000 hectares of land in Ajaokuta, Kogi, about 38 kilometres from Lokoja, the state capital.

The Plant was conceived and steadily developed with the vision of erecting a Metallurgical Process Plant/Engineering Complex with other auxiliaries and facilities.

The company is meant to generate important upstream and downstream industrial and economic activities that are critical to the diversification of Nigeria’s economy to an industrial one.

The Plant dubbed “Bedrock of Nigeria’s Industrialisation’’ is also designed to produce iron and liquid steel from Iron Ore Mines at Itakpe, also in Kogi, about 52 kilometres from Ajaokuta.

Source : Punch NG

voda 11 juni 2018 19:43

0

835 Ships Scrapped in 2017 - The Global Shipbreaking Facts & Figures

Each year the NGO Shipbreaking Platform collects data and publishes an annual list of ships dismantled worldwide. In 2017, 835 vessels were dismantled. 543 of these ships were sold for dirty and dangerous breaking on the beaches of South Asia. Whilst ship owners are increasingly portraying themselves as conscious of the problems caused by shipbreaking, the Bangladeshi beach in Chittagong – where environmental protection and worker safety are particularly scant– remained the preferred scrapping destination worldwide in terms of tonnage dismantled.

Most vessels scrapped in 2017 were general cargo ships, followed by bulk carriers and container ships, oil and gas tankers, roll-on roll-offs, passenger vessels and oil platforms. Looking at the size of vessels scrapped on the beaches of South Asia, Pakistan received the largest vessels followed by Bangladesh, while Indian yards scrapped more medium-sized ships. China and Turkey tend to recycle smaller vessels on average. Thus, the larger the vessel the more likely it is that it will end up on a beach in Pakistan or Bangladesh – where the conditions are known to be the worst. In 2017 the Pakistani government introduced a ban on the import of tankers after a sequence of disastrous explosions between the end of 2016 and beginning of 2017, resulting in about 30 workers losing their lives. As a result, there was an increase in the flux of tankers going for breaking in India.

As in 2016, Germany and Greece top the list of country dumpers in 2017.

German owners, including banks and ship funds, beached 50 vessels out of a total of 53 sold for demolition.

Greek owners were responsible for the highest absolute number of ships sold to South Asian shipbreaking yards in 2017: 51 ships in total. Since the Platform’s first compilation of data in 2009, Greek shipping companies have unceasingly topped the list of owners that opt for dirty and dangerous shipbreaking.

European ship owners, from the EU and EFTA states, are responsible for more than one third of all ships sold for breaking. The number of European-owned and/or European-flagged vessels dismantled in 2017 worldwide amounted to 260 ships: 181 of these ships, representing 70% of all European end-of-life ships, ended up on the beaches in either India, Pakistan or Bangladesh. In terms of volume, European owners were responsible for around 40% of the total tonnage scrapped on South Asian beaches. It is clear that the European fleet follows the trends of previous years and continues to be predominantly broken using the most unsustainable recycling method.

Out of the 181 European vessels that were beached, only 18 were still sailing under a European flag during the last voyage. 24 vessels that had otherwise been operating under a European flag, swapped flag to a non-EU flag of convenience just weeks before hitting the beach. The most popular end-oflife flags for vessels scrapped on the beaches in 2017 were Panama, Comoros, St Kitts and Nevis, Palau, Liberia and Togo. Palau, St Kitts and Nevis and Comoros are flags that are almost exclusively used by cash buyers at end-of-life, and in 2017 Comoros hit a new record as it held first position as a beaching flag together with the more widely used flag of Panama.

Source : Strategic Research Institute,

voda 11 juni 2018 19:46

0

Trump Trade War - EU will act against US - German Chancellor Angela Merkel

Reuters reported that German Chancellor Angela Merkel, voicing regret about President Donald Trump’s abrupt decision to withdraw support for a G7 communique, said on Sunday that Europe will implement counter-measures against US tariffs on steel and aluminum just like Canada. She told “The withdrawal, so to speak, via tweet is of course ... sobering and a bit depressing.”

She told “The summit did not mark the end of the transatlantic partnership between Europe and the US. Europe could no longer rely on its ally and should take its fate into its own hands. Like Canada, the European Union is preparing counter-measures against U.S. tariffs on steel and aluminum imports, in line with World Trade Organisation rules. So we won’t let ourselves be ripped off again and again. Instead, we act then too.”

Trump’s announcement on Twitter, after leaving the Group of Seven summit in Canada early, that he was backing out of the joint communique torpedoed what appeared to be a fragile consensus on a trade dispute between Washington and its top allies.

Source : Reuters

Bijlage:

voda 11 juni 2018 19:53

0

Trump Trade War - US tariffs on steel and aluminum are illegal – Canadian Minister
Steel News - Published on Mon, 11 Jun 2018

FX Street reported that Canada's Minister of Foreign Affairs Chrystia Freeland crossed the wires in the last hour, via Reuters, stating that Canada hadn't received a formal or informal notification of any additional US tariffs.

Freeland reiterated that US tariffs on steel and aluminum were illegal and added that they were going to consult on the proposed countermeasures before they ome into force on July 1. According to Freeland, Canada's response to those tariffs would continue to be measured and proportionate.

Source : FX Street

voda 11 juni 2018 20:20

0

Trump Trade War - Record pace of US steel scrap exports to Mexico

Platts reported that through the first four months of 2018, US steel scrap shipments to Mexico were on a record pace, but that trade flow may be disrupted with the implementation of Section 232 tariffs on Mexican steel products. The US exported over 700,000 mt of ferrous scrap to Mexico this year through April, on pace for 2.1 million ton this year, which would be a record. Mexico supplanted Taiwan as the second-largest buyer of US steel scrap behind Turkey in 2016, when it imported 1.49 million tons, and has maintained that position since, importing 1.66 million tons in 2017.

In April, the most recent month of data available from the US Department of Commerce and US International Trade Commission, Mexico imported 230,022 tons of steel scrap from the US, the most this year.

Whether or not the trade flow will continue is unclear after last week's decision to lift temporary Section 232 exemptions on Mexico, in addition to Canada and the EU, beginning June 1.

One scrap supplier to Mexico said that "I think that if the 25% tariffs stay in place more than 60-90 days it will have a big impact. We have seen both Canadian mills and Mexican mills recoil due to the recent announcement, now did mills change their buy program due to end Q2 inventory targets? Or did the 25% tariff change their programs?"

Mexico buys primarily HMS 1 and shredded from the US. In 2018 Mexico has imported 401,098 tons of HMS 1 and 151,837 tons of shredded scrap from the US.

While there has been no mention of a Mexican tariff on US scrap, Mexico imposed 15%-25% tariffs on US steel products in retaliation to the US duties.

Over 330,000 tons of the HMS 1 came across the border in Laredo, Texas, while scrap cargoes have arrived this year from Houston (34,106 tons), New York (27,500 tons), Philadelphia (29,274 tons), Providence (46,199 tons), San Juan, Puerto Rico (43,200 tons) and Tampa (30,000 tons). Those cargoes from the US contain a majority of shredded material.

Another US scrap supplier said that "Mexico business is going to really start to feel the effects of the tariffs I would think moving forward.”

The scrap flow between the US and Mexico has historically been a two-way street. Mexico had also been the second-largest exporter of scrap to the US behind Canada for most of this decade before falling behind the UK and Sweden in recent years in 2016.

One US Southwest scrap supplier said that "I think you are going to see the trend [of US scrap exports to Mexico] drop sharply this month as there is a large delta between the US and Mexican markets currently.”

The US scrap premium over Mexico, he added, would continue to grow based on the upcoming Mexico presidential election, stalling NAFTA negotiations and a falling peso in addition to the tariff pressure.

The supplier said that "We still have a little scrap moving south, but not near as much as early in the year and we now have much more material moving north out of Mexico into the US market.”

Source : Platts

voda 11 juni 2018 20:21

0

Chinese government directs steelmakers to raise US coking coal imports – Report

Platts reported that Chinese government has told several large steel mills to increase their year on year import volumes of US met coals, as part of the country's attempts to narrow its significant trade deficit with the US. Sources told S&P Global Platts ministry of Commerce officials have approached at least two steelmakers that have previously procured US met coal and instructed them to procure more US exports, sources close to the matter said. The mills were told that their annual imports of met coal cannot fall below volumes imported in 2017.

The mills have said that maintaining such volumes would not be a problem. The Chinese Ministry of Commerce could not be reached for comment. A market source said that "I think that there is a lot of substance in the US and China coal collaboration.”

The source indicated that there were signs "that coal will be part of the resolution of the trade dispute," referring to escalating trade tensions between the two countries.”

Responses from market sources were mixed. Many were surprised, and expressed skepticism that such state intervention would have traction if met coal prices were to fall into the low USD 100 short per tonne CFR China.

However, one source said the idea that the Chinese government could intervene and compel end-users to buy more US coal was not surprising at all. He said that "I don't know why many people are shocked.”

The source indicated that the likelihood of spot prices falling to around or even below USD 100 per tonne CFR China was low in the next few years given a likely tight market supply balance.

Most steelmakers surveyed indicated, however, that without any supporting clauses, such as providing subsidies to encourage import volumes when prices are not conducive to bilateral trade, the government's request would be difficult to execute. One mining source said it was ridiculous to compel steelmakers to buy unless there were enforceable clauses that compelled buyers to buy and sellers to sell even when the price doesn't make sense for one party or the other.

Without such clauses there would be "loopholes," the source said, adding that tax rebates would be one potential way to try and enforce this. Met coal buyers are "very practical" with regards to coking coal imports, a large steelmaker said, describing the US-Chinese met coal relationship as based "mostly on price."

Source : Platts

voda 11 juni 2018 22:03

0

Odisha willing to offer land for SAIL ArcelorMittal auto steel JV plant

PTI reported that the Odisha government said that it is inviting SAIL-ArcelorMittal JV to set up an automotive grade steel plant in the state as ample land was available there. Odisha Principal Industry Secretary Sanjeev Chopra said "They (SAIL-Mittal JV) are examining various locations. And the ball is in their court. Once they express interest, land is also available. Ample land is available in Rourkela. I am sure in case they are interested they can do it very fast here. There is no issues of land acquisition also.”

Steel Authority of India Limited recently responding to the state's request wrote a letter to Odisha Principal Industry Secretary Sanjeev Chopra, saying they would keep the eastern state in mind while zeroing in on the location for the proposed steel plant.

SAIL has a steel plant in Rourkela with 4.5 million tonnes of Hot Metal and 4.2 Million Tonnes of Crude Steel per annum capacity.

SAIL and ArcelorMittal had in May, 2015 entered into a memorandum of understanding (MoU) to explore the possibility of setting up an auto-grade steel manufacturing facility under a joint venture in India. The proposed JV will construct a cold rolling mill and other downstream finishing facilities in lndia; touted as one of the fastest-growing automotive markets in the world with production expected to double between 2014 and 2020, from 3.6 million units to 7.3 million units.

Source : PTI

voda 12 juni 2018 15:25

0

SSAB to reorganize steel tube business

Sweden-based steelmaker SSAB Europe plans to reorganize its tube production in an effort to modernize and increase its output. The plan includes modernizing the existing production lines at the Hameenlinna Tube Mill over the next few years as well as a program to modernize and develop tube production in the Oulainen, Pulkkila and Toijala sites in order to increase production volumes.
A possible end result of this reorganization could also be the closing of a mill in Lappohja.

SSAB said "Worker consultations concerning possible workforce reduction are being initiated at the Lappohja Mill for financial and production-related reasons and for reasons arising from reorganization of the company's operations. The consultations may result in the closure of the Lappohja Mill. The consultations affect the entire personnel at the Lappohja Mill, about 115 persons.”

SSAB Europe's steel mills currently have an annual production capacity of 4.9 million tonnes, but the company declined to say by how much the changes would increase production.

Source : Strategic Research Institute

voda 12 juni 2018 15:25

0

Thyssenkrupp union raises alarm over TATA Steel JV

Live Mint reported that Thyssenkrupp AG’s labour representatives reiterated their concern over the company’s plans for a multi-billion dollar joint venture with Tata Steel Ltd after a recent plunge in profits at the Indian company’s European operations. Mr Wilhelm Segerath, a senior official at the IG Metall labor union who sits on Thyssenkrupp’s supervisory board said that “We are still concerned that the JV is a sensible solution given the circumstances. The diverging development at both companies emphasizes our concerns about the viability of Tata’s European operations, specifically the UK plant.”

Tata and Thyssenkrupp are currently putting the final touches on the deal that is to be inked in the coming weeks, according to people familiar with the matter, who asked not to be identified because the information is private.

Source : Live Mint

Vertraagd	24 apr 2024 17:35
Koers	23,640
Verschil	+0,170 (+0,72%)
Hoog	23,950
Laag	23,550
Volume	2.185.626
Volume gemiddeld	2.462.006
Volume gisteren	3.800.729

23 apr	Mondiale staalproductie daalt toch weer
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

Arcelor Mittal « Terug naar discussie overzicht

Nieuws en info hier plaatsen (deel 4)

Meedoen aan de discussie?

Direct naar Forum

Detail

ArcelorMittal nieuws meer