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voda 20 januari 2020 16:48

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Impact of US Sanctions on Iran Steel Exports

Iran-based sources told S&P Global Platts that fresh US sanctions against Iranian steel exports are likely to have little impact because pricing remains attractive to Asian buyers. A trader said “The recent US sanctions are not expected to have a big impact on Iranian steel producers, as long as steel products continue to have attractive prices. Even during the previous sanctions, Asian buyers were not put off from purchasing from Iran. So I don’t think these new sanctions will have an effect, in particular now that the rial has depreciated.”

However, some traders concede that the new sanctions may affect sentiment. They said “The sanctions, of course, are not without effect; some customers may be reluctant to deal with Iran. These sanctions are likely to present more obstacles to trade with Iran than the previous round of secondary sanctions. Insurance and shipping costs may increase as a result.”

Source : Financial Tribune

voda 20 januari 2020 16:51

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Severstal reports Q4 & FY2019 operational results

Russian steel giant PAO Severstal announced its operational results for Q4 and FY2019.

Q4 2019 GROUP HIGHLIGHTS

Hot metal output declined 4% q/q in Q4 2019 to 2.36 mln tonnes (Q3 2019: 2.46 mln tonnes) due to short-term maintenance works at blast furnace facilities in Q4 2019. Crude steel production declined 10% to 2.71 mln tonnes (Q3 2019: 3.03 mln tonnes) affected by short-term maintenance works at the BOF and EAF facilities and lower EAF production in Q4 2019 following the sale of the Balakovo mini-mill in the previous quarter.

Consolidated steel product sales declined 6% q/q to 2.65 mln tonnes in Q4 2019 (Q3 2019: 2.83 mln tonnes). The Company increased the share of steel export shipments to 41% (Q3 2019: 33%) responding to a seasonal slowdown in domestic demand.

The share of high value-added (HVA) products within the sales portfolio remained at 45% (Q3 2019: 45%), supported by higher sales of hot rolled thick plate and cold rolled coil products and declining volumes of long and hot rolled coil sales.

FY2019 GROUP HIGHLIGHTS

Hot metal output increased 4% y/y to 9.49 mln tonnes in 2019 (FY2018: 9.15 mln tonnes) driven by improved efficiency arising from maintenance works and higher quality raw materials.

Crude steel production in 2019 declined 2% to 11.85 mln tonnes (FY2018: 12.04 mln tonnes), as higher aggregate productivity levels were offset by lower EAF production in H2 2019 following the sale of the Balakovo mini-mill.

The share of HVA products remained high at 45% in FY2019 (FY2018: 46%), reflecting higher sales of thick plate, as well as galvanised and colour-coated products following the launch of new product lines, which reached full utilisation in the beginning of 2019.

In 2019 the share of domestic shipments reached 65% (FY2018: 61%) due to more attractive pricing in the Russian market.

Voor cijfers, zie pdf.

Source : Strategic Research Institute

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voda 20 januari 2020 16:52

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Janus Acquires Self-Storage Building Supplier Steel Storage Australasia

Global manufacturer and supplier of building solutions and technology for the self-storage industry Janus International has acquired Steel Storage Australasia, a provider of self-storage design and construction solutions to the Australasian market. The Brisbane, Australia-based company also provides doors, lockers, partition systems, single and multi-story self-storage buildings, and mezzanine and flooring systems in Australia

Headquartered in Temple, Ga., and founded in 2002, Janus sells roll-up and swing doors, hallway systems, and re-locatable storage units. It also has a technology division designed to help self-storage operators automate facility operation, improve security, and create a more convenient customer experience. It operates 10 US locations as well as manufacturing facilities in Europe and Mexico.

Source : Strategic Research Institute

voda 20 januari 2020 16:53

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Olympic Steel Promotes Francis M Ruane as EVP Supply Chain

Leading national metals service center Olympic Steel Inc announced the promotion of Francis M Ruane to the role of Executive Vice President Supply Chain. Mr Ruane will report directly to Andrew S Greiff, President and Chief Operating Officer, and continue to lead Olympic Steels supply chain efforts and manage the Companys distribution and proprietary fleet. Franks expertise in supply chain, distribution, inventory management and routes to market have played an important role in Olympic Steels commercial planning and business strategy, said Greiff. His careful assessment of the current and future value of metals products in U.S. and global markets has been invaluable to our commercial teams and enabled us to provide effective insights and market education to our customers and industry partners.

Mr. Ruane entered the industry in 1985, achieving roles of increasing responsibility before joining Olympic Steel in 1998. Prior to his current appointment, he held the positions of Director “ Corporate Purchasing and Materials Management and, most recently, Vice President “ Purchasing.

Mr. Ruane earned his undergraduate degree from the University of Maryland and his Masters of Business Administration from Loyola University. Mr. Ruane is a member of the Market Research Committee for the Metals Service Center Institute (MSCI) and is a past Communications Chair (Steel Buyers Forum) for the National Association of Purchasing Management.

Source : Strategic Research Institute

voda 20 januari 2020 16:53

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Moody's Periodic Review of Ratings of China Baowu Steel Group

Moody's Investors Service has completed a periodic review of the ratings of China Baowu Steel Group Corporation Limited and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. The review did not involve a rating committee.

Key rating considerations are summarized below.

China Baowu Steel Group Corporation Limited's (Baowu) A3 issuer rating is composed of 1) the company's standalone credit profile, as illustrated by its baa3 Baseline Credit Assessment (BCA) and 2) Moody's assessment of a "High" likelihood of support from and the "High" level of dependence on the Government of China (A1 stable) in times of need, which resulted in a rating that is three-notch above its BCA.

Moody's support assessment considers Baowu's 100% ownership by the central government, the government's strong financial capability to render support, the company's strategic importance to China's major industries, the leading role in steel industry consolidation, the high level of government supervision, and the certain social responsibilities it takes.

Baowu's BCA of baa3 primarily reflects its (1) leading market position as China's biggest steel-maker; (2) integrated steel production, with a focus on high-value-added steel products; and (3) good financial flexibility.

However, Baowu's BCA is constrained by (1) its high geographic concentration in China; (2) the cyclical nature of the steel industry; and (3) China's slowdown in economic growth and fixed asset investments.

Source : Strategic Research Institute

voda 20 januari 2020 17:05

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WTO DSB Update on Moroccan Measures on Hot-Rolled Steel from Turkey

At a meeting of the Dispute Settlement Body on 8 January, WTO members formally adopted the panel and Appellate Body reports in a case brought by Turkey regarding anti-dumping measures imposed by Morocco on imports of certain hot-rolled steel products from Turkey.

The panel report, circulated to WTO members on 31 October 2018, found that Moroccan authorities had violated several provisions of the WTO's Anti-Dumping Agreement in their investigation on the targeted Turkish imports. On 20 November 2018 Morocco notified its decision to appeal certain panel findings.

On 4 December 2019, the Chair of the Appellate Body informed the DSB that it had received a letter from Morocco indicating the withdrawal of its appeal. The Appellate Body issued its report on 10 December stating that, in view of Morocco's withdrawal of the appeal, it had completed its work and that the 30-day period for the DSB's formal adoption of the ruling began from the circulation of the Appellate Body report.

The DSB adopted the panel report and Appellate Body report. Morocco will now have 30 days to inform the DSB of its intentions in regards to the implementation of the ruling.

Source : Strategic Research Institute

voda 21 januari 2020 10:45

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ThyssenKrupp heeft shortlist kandidaten voor liftendivisie - media

FONDS KOERS VERSCHIL VERSCHIL % BEURS
KONE Oyj -B-
59,18 -0,68 -1,14 % Helsinki Stock Exchange
ThyssenKrupp AG
11,54 -0,45 -3,75 % Frankfurter Wertpapierbörse (Xetra)

(ABM FN-Dow Jones) ThyssenKrupp heeft een shortlist van belangstellende partijen voor zijn liftendivisie die al enige tijd in de etalage staat. Dit meldde persbureau Bloomberg dinsdag op basis van ingevoerde bronnen.

Volgens deze bronnen hebben de Aziatische private investeerder Hillhouse Capital en de Braziliaans-Amerikaanse investeerder 3G Capital zich inmiddels teruggetrokken.

De combinatie van Blackstone Group en Carlyle Group zijn daarentegen nog in de race voor de tak van het Duitse industrieconcern, die mogelijk zo’n 15 miljard euro zal opleveren. Ook Canada Pension Plan Investment Board maakt deel uit van dit consortium.

Verder is Brookfield Asset Management in samenwerking met Temasek Holdings in race en dat geldt ook voor een groep bestaande uit Advent International, Cinven en het staatsinvesteringsfonds van Abu Dhabi. Die laatste wordt gesteund door RAG Stiftung.

Met een lokale speler als RAG in de gelederen, dat bovendien minder strikte financiële doelstellingen heeft dan private equity-firma's, zouden de kansen voor het consortium toe nemen dat de ondernemingsraad van Thyssenkrupp akkoord gaat met een deal, meldde Reuters eerder al.

Dan is er ook nog het Finse Kone Oyj dat samen met CVC Capital Partners interesse zou hebben.

De nieuwe biedingsronde wordt medio februari verwacht, aldus Bloomberg.

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

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

voda 21 januari 2020 16:49

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ArcelorMittal Kryvyy Rih Update on Boiler Modernization

ArcelorMittal Kryviy Rih last week presented at a public hearing a report on the environmental impact assessment of the project of modernization of steam boiler # 1 and boiler systems of the boiler room providing steam coke-chemical production. The boiler room has two boilers with a steam capacity of 50 tonnes per hour each, the fuel for which is purified coke oven gas. Steam boiler # 2 has been comprehensively upgraded in 2018, and now the company is planning to repair boiler # 1. During the repair work, the torch burners will be replaced by a vortex (turbulent), which will provide more intensive mixing of air and fuel.

New boiler equipment is the ULTRAMAT 2321-02 gas analyzer manufactured by Siemens. The monitoring system is planned to be installed, all data will be automatically supplied to the operator for control and optimal regulation of technological parameters. Specialists will be able to adjust the composition of the fuel air more precisely and more quickly and to reduce the pollutant emissions.

Source : Strategic Research Institute

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voda 21 januari 2020 16:49

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Public Hearing for JSW Steel Project in Odisha Completed

IPICOL Managing Director Mr Nitin B Jawale told PTI that Odisha expects work on the proposed INR 53,700 crore integrated steel project at Jagatsinghpur in Paradip by JSW Group to start soon following successful conclusion of a public hearing. He told "JSW''s hearing was conducted peacefully and successfully. That is a huge development. The integrated project has been passed unopposed with almost same investment that POSCO was looking that is a change. We expect the work to start soon on INR 53,700 crore JSW project Utkal Steel Limited project."

He said "The success of this public hearing paves way for the establishment of an integrated steel plant of 12 MTPA capacity, 10 MTPA cement plant and a 900-megawatt captive power plant by the Sajjan Jindal-led group, on an area of 2,980 acre. An all-weather multi-cargo greenfield jetty with handling capacity of 52 MTPA is also part of the project.”

Mr Jawale said conclusion of peaceful public hearing is a positive development for Odisha and a major milestone in its industrialisation efforts as the proposed steel plant is on the same site where the Korean steel giant POSCO’s project was envisaged and there was no opposition from the locals. The erstwhile opponents of the POSCO project have also welcomed the JSW project now, demanding an ideal rehabilitation and resettlement package from the state government. This development will also help dispel the prevailing misconceptions about this region and with a major port in the vicinity the Paradip in Odisha is poised for diversified industrial growth.”

Source : Strategic Research Institute

voda 21 januari 2020 16:51

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Baowu Steel Group Seeking Iron Ore Security

China’s largest steel company state owned China Baowu Steel Group Corp Ltd announced plans to expand its overseas footprint to boost its share of global iron ore mining operations. Baowu Steel Group Chairman Chen Derong revealing they had selected an overseas target. He said “The company would team up with other steel producers and jointly establish a fund to develop the mine, which would supply iron ore with an estimated cost, insurance and freight price of roughly USD 40 per tonne. Company would team up with other large producers to build a procurement platform to bring down costs.”

He added “The sharp rise in iron ore prices over 2019 had been painful for the industry and that international iron ore producers made bumper profits while the average price of imported iron ore in China surged to USD 90 per tonne.”

Baowu Group has a stake in several overseas mines. In 2002, Baosteel Group formed a joint venture with Bao Ruiji Iron Mine and Australia’s Hamersley Iron Pty. Ltd., and it has also established projects with Australian ore company Fortescue Metals Group Ltd.

Source : Strategic Research Institute

voda 21 januari 2020 16:56

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Danieli Centro Recycling to Supply Twin Shaft Scrap Pre Shredder to Shigang Steel Mill

Hebei Steel Group’s Shigang Steel Mill recently placed an order with Danieli for a ZDS 220-600, twin-shaft pre-shredder to be installed in northern China. The machine, with a mouth of 2.2 m width and an installed power of 600 kW, will allow the processing of the widest scrap range, including flattened and baled cars, for a productivity of about 30 tph expandable to over 60 tph. Rotors will be equipped with manganese teeth to ensure high and continuous performance. The new pre-shredder will be supplied with a downstream Radial Stacking Conveyor to improve the scrap logistics, enhancing the optimal loading of the existing shredder.

The new pre-shredder will be put into operation by mid 2020.

Source : Strategic Research Institute

voda 21 januari 2020 17:41

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Video: analisten te somber gestemd voor kwartaalcijfers

(ABM FN-Dow Jones) Analisten zijn te somber gestemd over het nieuwe cijferseizoen. Dit zegt analist Corné van Zeijl van Actiam dinsdag voor de camera van ABM Financial News.

De markt rekent op een daling van de kwartaalwinsten, zowel in de VS als in Europa, met 1 procent.

"Ik denk dat dat voor het eerst een beetje aan de sombere kant is", aldus Van Zeijl.

Vooral bij productiebedrijven, zoals in de auto-industrie, zullen er tegenvallers te zien zijn, denkt Van Zeijl. Autofabrikanten en toeleveranciers "gaan echt nog wel een dip laten zien in het vierde kwartaal".

www.youtube.com/watch?v=oDyb19BQyjQ

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

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

voda 21 januari 2020 19:55

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Tokyo Steel Keeps Steel H Beam Prices Unchanged for February

Reuters reported that Japan’s top electric-arc furnace steelmaker Tokyo Steel Manufacturing Co Ltd said that it would keep steel product prices unchanged for a fourth straight month in February, as it awaited confirmation that a recovery in steel markets would continue both at home and abroad. For February, prices for steel bars, including rebar, will remain at JPY 62,000 a tonne while H-shaped beams will also stay at 83,000 yen a tonne. Tokyo Steel Managing Director Kiyoshi Imamura told reporters “Overseas steel prices have been recovering since late last year and the rally may even pick up after the China’s Lunar New Year break. Domestic demand is also solid, but labor shortage and limited processing capacities have delayed various construction projects, causing dull market activities. Steelmakers want to raise prices of products to reflect rising costs such as transportation and secondary materials, but we are keeping our product prices steady as we want to make sure markets have completely bottomed out.”

Tokyo Steel held prices steady for all of its steel products in January, including its main H-shaped beams.

Tokyo Steel’s pricing is closely watched by Asian rivals, such as South Korea’s Posco and Hyundai Steel , and China’s Baoshan Iron & Steel Co Ltd

Source : Reuters

voda 21 januari 2020 19:56

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Tinplate Packaging Recycling Rate Reaches 90.4% in Germany

Gesellschaft für Verpackungsmarktforschung in its recently published annual recycling report states that 90.4% of tinplate packaging used in Germany was recycled in 2018. The recycling rate from private end use sources was as high as 92.2%, making tinplate the most recycled packaging material in this area once again.

thyssenkrupp Rasselstein GmbH CEO Dr Peter Biele said “The high recycling rate of tinplate sends a strong message to the filling industry, trade and consumers: If you are looking for sustainable packaging material in a closed, effective material cycle, tinplate is the right choice. Tinplate has another important advantage over many other packaging materials: it is almost 100% recyclable–practically infinitely and without any loss of quality. This is because packaging steel is made from natural raw materials such as iron ore, coking coal and limestone as well as part scraps steel. The characteristic properties of this metal allow steel to be melted down again and again and processed into a new steel product with resources that occur in nature.”

Source : Strategic Research Institute

voda 21 januari 2020 19:57

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GMS Market Commentary on Shipbreaking in Week 03 - Exuberance Maintains

It has been another positive week across the Indian subcontinent ship recycling locations, with further improvements on levels and demand, particularly on favored container vessels that have been making the rounds of late. Overall, India remains the market of the moment, with several sales from various Cash Buyers reportedly taking place at ever impressive numbers, despite no fresh market sales to report. However, Bangladeshi Recyclers are still determined to get their hands on the vessels that do remain, even if capable and available End Buyers are swiftly running out for the largest units on offer. Pakistan remains suspended in limbo, with no real change affecting the purchasing prowess of local Buyers. And finally, on the far side, the Turkish market remains in limbo, firmer overall, yet struggling to conclude any units amidst this seemingly unending dearth of tonnage.

Meanwhile, several green vessels continue to be introduced into the market for recycling and ensuring compliance of green recycling contracts has increasingly become a headline risk for Sellers in recent times, especially as several vessels that were sold for recycling as per the HKC guidelines into India, were eventually delivered into Bangladesh.

This is why it is important for socially & environmentally conscious Sellers to start ensuring they are committing their vessels for green / HKC recycling to reputable cash buying counterparties with a proven track record. Please see the accompanying Press Release in this regard.

Source : Strategic Research Institute

voda 21 januari 2020 19:58

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Moody's Completes Periodic Review of Ratings of JSW Steel Limited

Moody's Investors Service has completed a periodic review of the ratings of JSW Steel Limited and other ratings that are associated with the same analytical unit. Key rating considerations are summarized below.

JSW Steel Limited's Ba2 corporate family rating (CFR) reflects the company's following strengths: (1) large scale and strong position in its key markets; (2) competitive conversion costs, as a result of its efficient operations and the use of latest furnace technology; and (3) good product and end market diversification, with an increasing focus on value-added products and retail sales.

Counterbalancing these strengths, the rating also incorporates JSW's (1) exposure to the inherently cyclical steel industry; (2) limited raw material integration; (3) large capital spending needs; and (4) loss-making international operations which will constrain free cash flow generation over the next 12-18 months.

Source : Strategic Research Institute

voda 21 januari 2020 19:58

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Groundbreaking in March for Baowu Integrated Steel Plant in Philippines

Philippines Government’s Phividec Industrial Administration announced that the groundbreaking for the USD 4-billion Huili Baowu CISDI Integrated Steel Mill in Misamis Oriental is scheduled in March this year. PIA chief Mr Franklin Quijano said "Preparations for the groundbreaking event are now taking shape in coordination with various stakeholders and partners of the project.”

This steel project includes China’s three leading companies Huili Fund, Baowu Steel Group Corporation Ltd and China Metallurgical Group Corporation’s subsidiary CISDI Group Co Ltd. China Baowu astechnical partner will operate the steel mill. CISDI shall design the steel mill. And A Brown Company Inc’s subsidiary, Simple Homes Development, Inc, is partnering with Huili Fund for the land lease with option to purchase the 600-hectare property at the Phividec Industrial Estates.

Misamis Oriental is a province located in the region of Northern Mindanao in the Philippines. Its capital and provincial center is the city of Cagayan de Oro, which is governed independently from the province.

Source : Strategic Research Institute

voda 21 januari 2020 19:59

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World’s Biggest Dump Truck BelAZ 75710 Made from Advanced High-Strength Steel

Worldsteel wrote that the BelAZ 75710, Able to carry loads of 450 tonnes, is the biggest dump truck on the planet and is built on advanced high-strength steel. Running at USD 6 million a piece, these massive 360-tonne haulage vehicles are six times as powerful as an F1 racing car and are more than 20 metres in length. The BelAZ 75710 is 20.6m long, 8.16m-high and 9.87m-wide. Run by two 16 cylinder, four stroke diesel engines that each have 2,300 horsepower and produce electricity to power four electric motors, they can reach maximum speeds of 64kph. Moving massive payloads is a fuel intensive process, and diesel consumption for the 75710 is estimated at 1,300 litres per 100km but can be run on a single engine when not loaded to save on fuel.

The manufacturer BelAZ created this gigantic vehicle with the aim of increasing the efficiency of quarry and mine production. By designing a truck with a payload capacity that is 25% larger than conventional dump trucks, they were able to keep fuel consumption to a minimum, resulting in lower costs per load.

Around 70 per cent of a conventional dump truck’s payload sits on the rear axle, so to increase the carrying capacity this weight would have to be evenly distributed across the truck’s frame. To achieve this the 75710 has four tires at the front and at the rear, with a moveable axle system that allows for adjustments based on payload characteristics.

Due to the extreme physical requirements of a 450-tonne load, advanced high-strength steel was chosen for the production of the swivel carriage that forms part of the suspension system connecting the frame and axle. The steel used in the axle suspension system is SSAB’s Weldox 700F, allowing for reduced thickness while retaining the ability to handle huge loads. Weldox combines its extreme strength with high weldability, meaning the parts could be prefabricated by SSAB in Sweden and then assembled at BelAZ’s site in Belarus. The truck’s frame is formed of a welded structure of Hardox 450, another of SSAB’s high-strength steels, giving the body extreme resistance to abrasive wear, fatigue and impact damage.

Source : Strategic Research Institute

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voda 21 januari 2020 20:05

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AISI Comments on Indonesia Nickel Ore Ban Export

In response to a request from the Office of the United States Trade Representative, the American Iron and Steel Institute, on behalf of its US producer member companies, has submited comments to USTR on its country practice review for Indonesia market access under the Generalized System of Preferences. AISI said “US stainless steel producers are extremely concerned that without intervention by the US government, Indonesia’s market-distorting behavior will ultimately force the shutdown of critical domestic stainless steelmaking operations and leave the United States reliant on foreign sources for producing stainless steel vital for the US industrial and defense industries. As USTR reviews Indonesia’s market access compliance with its GSP commitments, AISI urges it to take into account the manipulation of the nickel market by the Indonesian government as it considers the continued eligibility of Indonesia under the Generalized System of Preferences. Given in particular the Indonesian government’s direct actions to limit market access to its nickel ore, a basic commodity resource, AISI is of the view that Indonesia no longer meets a key statutory criterion for GSP beneficiary country status.”

According to the US Geological Survey, in 2018, Indonesia was the world’s largest mine producer of nickel, while also holding the largest nickel ore reserves in the world. As part of a national plan to develop certain downstream industries, including in particular stainless steel, Indonesia in 2014 imposed a complete ban on the export of unprocessed mineral ore exports, including nickel ore. In 2017, the government of Indonesia partially relaxed this export prohibition by issuing a set of rules allowing companies that meet certain stringent requirements to export mineral concentrates, including certain amounts of low-grade nickel ore with a concentration of less than 1.7 percent nickel (subject to an export tax of ten percent),6 with the stated plan to reintroduce a total export ban on nickel in January 2022.7 In August 2019 Indonesia’s Ministry of Energy and Mineral Resources announced that it was reinstating the total export prohibition for all nickel ore as of January 1, 2020. hese measures have caused a very significant drop-off in Indonesian nickel ore exports beginning in 2014, as detailed in the chart below.

A major beneficiary of the Indonesian export restrictions on nickel has been the Chinese stainless steel producer Tsingshan Holdings Group (Tsingshan). In August 2017, Tsingshan opened a stainless steel mill in Indonesia with the primary purpose of exporting stainless steel to other markets around the world, including in particular the United States and the European Union, as Indonesian consumption of stainless steel products is significantly below the annual production capabilities of this facility. Tsingshan invested USD 6-7 billion to build the 3.0-3.5 million metric ton production facility in Morowali, Indonesia,8 which was heavily promoted and sponsored by the Indonesian government and was financed as part of the Chinese government’s ‘Go Global’ and subsequent ‘Belt and Road Initiative’ programs. Indonesia’s total stainless steel production capacity is expected to expand to over 50 times its annual 200,000 metric ton domestic demand by 2025, and thus production in Indonesia is almost entirely intended for export. Moreover, this investment in Indonesia is in addition to Tsingshan’s stainless steel production capacity of 7.0 million metric tons in China, providing the company with a total stainless steel production capacity of 10 million metric tons, nearly 20 percent of global stainless steel demand.

Source : Strategic Research Institute

voda 21 januari 2020 20:05

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Moody's Completes Periodic Review of Ratings of Tata Steel Ltd

Moody's Investors Service has completed a periodic review of the ratings of Tata Steel Ltd and other ratings that are associated with the same analytical unit. Key rating considerations are summarized below.

Tata Steel Ltd's Ba2 corporate family rating (CFR) reflects the company's: (1) large, diversified and growing business; (2) globally cost-competitive operations in the fast-growing Indian market where it commands a strong market position; and (3) a sustained track record of improving credit metrics.

The rating incorporates a one-notch uplift for our expectation of timely, ongoing and extraordinary support from its parent Tata Sons Ltd.

Counterbalancing these strengths, the rating also reflects the company's exposure to the cyclical steel industry and challenges associated with the planned 5 million tons per annum (mtpa) capacity expansion at Kalinganagar."

Source : Strategic Research Institute

Vertraagd	16 apr 2024 17:39
Koers	23,760
Verschil	-1,760 (-6,90%)
Hoog	24,370
Laag	23,550
Volume	8.435.640
Volume gemiddeld	2.286.866
Volume gisteren	2.055.736

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