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Nieuws en info hier plaatsen (deel 4)

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KIOCL Inks MOUs To Sell Iron Ore Pellet In Europe

KIOCL Limited has signed MoUs on 26th June 2019 at METEC-2019 at Dusseldorf, Germany for Sale of Pellets in European Market including UK with Glencore International AG and Steel Mont GMBH.

Source : Strategic Research Institute
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POSCO To Invest USD 17 Million To Support Smart Factories For SMEs

Korea Herald reported that South Korea Posco will invest a total of 20 billion won (USD 17.3 million) for the next five years to help small and midsized companies construct smart factories. The funds will go toward the construction of new smart factories as well as consulting programs for SMEs. Each SME can benefit from 20 million won to 100 million won in subsidies to build their own smart factories. Through consulting, Posco will also help SMEs find ways to improve manufacturing processes through Posco’s innovative production system Quick Six Sigma.

Since 2013, Posco has engaged in industrial innovation to help foster small and midsized companies. Over the past five years, it has provided a total of 19.7 billion won to the factories and carried out 1,660 improvement tasks for 876 SMEs.

The smart factory projects include Posco’s cooperation with Seoul Engineering, a steel company that supplies copper castings and industrial machinery products used in steel mill factories.

By establishing an energy usage monitoring system for electrical furnaces, the smart factory was able to reduce copper melting time by 30 minutes, improving copper melting efficiency.

Seoul Engineering CEO Lee Won-seok said that “We have also reduced electricity usage by more than 20 percent compared to the past. We thank Posco for providing the necessary support for SMEs and hope that this meaningful cooperation will spread further within the industry.”

Source : Korea Herald
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Global Ferronickel Setting Up 600KT Rebar Plant In Philippines

Rappler reported that Global Ferronickel Holdings has no plans to be a major player in the Philippine’s steel industry despite its venture into making steel rebars. FNI president Mr Dante Bravo said the company will be held back by a number of factors Even. He said that "The market is 10 million tonnes. We only want to supply 5%, the others are basically taking up 95%. We're that small.”

FNI's plant, which will turn imported billets into carbon steel rebars, is expected to be built in Luzon and will have a production capacity of 600,000 tonnes per year. Bravo said it will take two years before they can begin operations.

Source : Rappler
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Moody's Affirms Nippon Steel's Baa1 ratings, Outlook Stable


Moody's Japan KK has affirmed Nippon Steel Corporation’s Baa1 senior unsecured ratings. At the same time, Moody's has affirmed the (P)Baa1 rating on NSC's senior unsecured domestic shelf registration and the Baa3 subordinate rating. The outlook remains stable. Takashi Akimoto, a Moody's Assistant Vice President and Analyst, said "The affirmation of NSC's ratings reflects our expectation that the company will maintain its solid financial base even after taking into account its planned acquisition of an Indian steel company.”

NSC's financial leverage, as measured by debt/EBITDA, improved to 3.7x for the fiscal year ended March 2019 (fiscal 2018) from 4.0x for fiscal 2017, as an increase in EBITDA more than offset a rise in debt on the back of various investments.

Source : Strategic Research Institute
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Nico Steel Gets 1 Year Extension To Exit SGX Watch List

THE Singapore Exchange has granted Nico Steel Holdings a one-year extension to exit the bourse's watch list by Sept 4, 2020, failing which it will need to provide a reasonable exit offer to its shareholders. It was placed on the watch list on Sept 5, 2016, and had three years to exit the list by Sept 4, 2019, or face being delisted by SGX.

The metals supplier applied for the extension based on healthier cash flow from its operating activities, as it recorded a pre-tax profit of US$209,000 for the financial year ended Feb 28, 2018, and a pre-tax profit of US$469,000 for the fiscal year ended Feb 28, 2019.

As at Feb 28, 2019, the group said it has a positive operating cash flow of USD798,000 and is in a net cash position of US$5 million.

Source : Business Times
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Schnitzer Reports Third Quarter 2019 Financial Results

Schnitzer Steel Industries, Inc reported results for its third quarter of fiscal 2019 ended May 31, 2019. The Company reported earnings per share from continuing operations of USD 0.56 and adjusted earnings per share of USD 0.63, a sequential improvement from the second quarter reported and adjusted earnings per share from continuing operations of USD 0.46 and USD 0.48, respectively. In the third quarter of fiscal 2018, the Company’s reported and adjusted earnings per share from continuing operations were USD 1.31 and USD 1.26, respectively. For a reconciliation of the adjusted results to U.S. GAAP, see the Non-GAAP Financial Measures provided after the financial statements in this document.

Auto and Metals Recycling achieved operating income of USD 29 million, or USD 31 per ferrous ton, compared to operating income in the second quarter of fiscal 2019 of USD 22 million, or USD 25 per ferrous ton. AMR’s sequential improvement of USD 6 per ferrous ton was primarily driven by higher ferrous and nonferrous sales volumes which were up 9%, seasonally improved supply flows and retail sales, higher nonferrous average net selling prices which were up 7%, and continuing benefits from productivity initiatives, partially offset by higher selling, general and administrative expense.

Cascade Steel and Scrap achieved operating income of USD 8 million, compared to operating income in the second quarter of fiscal 2019 of USD 6 million. The USD 2 million improvement in CSS’s performance was primarily driven by the benefits of higher finished steel sales volumes which were up 38% and increased utilization, partially offset by the impact of lower average net selling prices which were down 5% and high beginning inventory costs resulting from lower production in the second quarter.

Mr Tamara Lundgren, President and Chief Executive Officer said that “Our team delivered another quarter of strong operating performance with both segments achieving higher volumes while navigating a volatile price environment. AMR’s sequentially improved results reflect the team’s ability to continue to optimize purchase volumes and diversify sales, while CSS delivered sequentially higher performance on significantly increased sales volumes and utilization. We also generated strong cash flow and decreased our debt in the quarter. Looking forward, we remain focused on the continued implementation of our productivity initiatives, volume growth and capital investment strategy to support our objectives of increasing our efficiency and operating leverage, expanding our products and broadening our customer reach.”

Source : Strategic Research Institute
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Domestic Steel Industry Pins High Hopes On Modi Government - Mr Sushim Banerjee

Mr Sushim Banerjee DG INSDAG in his personal capacity wrote in Financial Express that the Union Budget presentation of the new government is keenly awaited. Indian economy for the last two quarters has been facing challenges in terms of subdued manufacturing growth and job creation, liquidity problems, slow agricultural output and uncertainty in business scenario culminating in lower GDP growth (fourth quarter GDP of 5.8% and 7% for FY19). It is therefore much expected that a few economic stimulus measures would be announced in the Budget to bring the economy back on track.

First, the budgetary allocations in infrastructure sectors like roads, railways, airports, irrigation, among others. Ports, urban and rural infrastructure, construction of residential and office complexes, water supply and sanitation, power projects, among others, are to be enhanced significantly to arrest the declining FAI in GDP in India. This alone would generate significant rise in demand for commodities (steel, cement and others) in the coming months and would result in other associated benefits originated from the multiplier impact to generate more income and employment.

This budgetary fund deployed out of tax and non-tax revenue is to be supplemented by FDI flows in specific sectors which is on the rise. Once the public investment comes in, the private corporate investment which had a declining trend in the recent past would also follow suit in those areas. The potential areas of private investment belong to affordable housing, stretches of national and state highways, ports, airports, smart cities and real estate. The RBI has already brought down repo rate by 75 basis points to make credit less costly to boost up household consumption and help the industry to reduce cost of working capital and incentivise the long term investment. The lowering of rate of inflation (WPI for May 2019 at 2.45%) has made RBI more concerned on accelerating the economic growth of the country.

For steel industry, the higher investment allocation would lift up the subdued business sentiment which is acting against encouraging private corporate investment and raising the animal spirits in various critical sectors of the economy.

The PMI for manufacturing in the recent months can move up with improvement in business sentiments. As the price of finished steel has experienced a rough patch in the past three months (HRC ex-works at Mumbai, excluding GST, comes down from a fallout of the decline in global prices (HRC SS-400 FOB Tianjin port China currently ruling at USD 489 per tonne falling from USD 535 per tonne in March 2019 and rebar export FOB Turkey currently ruling at USD 458 per tonne falling from $485 per tonne in March 2019), while the input prices have gone up during the period.

It is interesting to look at the price trend of the major inputs for steel making. The benchmark international price of iron ore (Fe 62%) CFR China is ruling at USD 109.4 per tonne which is 26% higher than the price operating in March 2019, while the price of prime quality coking coal fob Australia ruling at USD 195.5 per tonne, although around 8% lower than the price operating in March 2019, is significantly high. The HMS Scrap prices 80:20 basis CFR Turkey currently ruling at USD 280 per tonne although around 13% lower than the prices in March 2019 has been projected to rise in the next few months. As the domestic iron ore prices depend on the import parity, there has been a corresponding rise in domestic prices of iron ore. The rise in input prices and drop in finished steel prices have reduced the margin available to the producers and has affected the profitability in steel industry.

The import duty reduction of basic inputs would go a long way in supporting the causes of steel industry under such a scenario. The imports of scrap (limited domestic availability) and coking coal (high ash content of domestic coking coal) would continue for a few more years which would necessitate regular imports of these two raw materials. The removal of basic customs duty of 2.5% on imports of Ferro Nickel (an essential input for SS grade), all types of scrap (carbon, alloy and SS), iron ore and metallurgical coal would enable the domestic steel players to bring down the cost of production and stay afloat. The anticipated loss of revenue can be more than compensated by more GST returns by higher production of steel and reflecting in more demand for domestic raw materials. A higher steel production implies more transportation of finished steel and raw materials and more freight earning for logistic suppliers.

Rising imports of steel has further aggravated the supply scenario. While in FY19 India has imported 8.8 million tonne of steel (rise of 4.6% over last year) thereby making the country a net importer, the import flows in the first two months of the current fiscal at 1.2 million tonne is nearly catching up last year’s level. During this period the domestic steel consumption in the country has grown by 6.5% as compared to 7.5% rise in FY19. In order to arrest the surge in imports, the domestic steel industry has already filed a safeguard duty petition with ministry of commerce. Meanwhile, it would be quite supportive to Indian steel industry to enhance the basic customs duty from the existing rates of 12.5% in Flats and 10.5% in Longs to 18% each in the minimum. This would provide some urgent relief to Indian steel industry to face unwanted imports flow diverted from the restricted markets of US and EU.

Source : Financial Express
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Burloak Technologies opens Additive Manufacturing Centre of Excellence

Burloak Technologies, a division of Samuel, Son & Co Ltd, has announced that its 65,000 square feet. Additive Manufacturing Centre of Excellence in Oakville, Ont., now is fully operational. The USD 104 million facility offers all additive technologies, including laser powder bed fusion, electron beam powder bed, electron beam wire, and directed energy laser fusion. These technologies are combined with a variety of materials and postproduction services, including design, engineering, CNC machining, heat treatment, and finishing capabilities.

Originally planned with a 45,000 square feet floor plan, the facility has been expanded to include dedicated development, new product introduction, and serial production capacity to accommodate the migration of customer projects from concept to full-scale production in a single location.

Source : Strategic Research Institute
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Fitch bevestigt kredietoordeel ArcelorMittal

Gepubliceerd op 28 jun 2019 om 11:54 | Views: 1.645

ArcelorMittal 13:02
15,63 -0,13 (-0,84%)

LUXEMBOURG (AFN/BLOOMBERG) - Fitch heeft de kredietrating van staalreus ArcelorMittal bevestigd. Deze blijft op BBB-, wat het laagste mogelijke niveau is boven het zogenaamde junk-kredietoordeel. Ook op de korte termijn blijven de vooruitzichten voor deze rating stabiel, aldus Fitch.

De kredietbeoordelaar verwacht dat ArcelorMittal positieve geldstromen blijft binnenhalen, ondanks de krimpende marges. Het concern kampt met een tanende vraag op de staalmarkt en een opwaartse prijsdruk op de grondstoffenmarkt. De brutowinst (ebitda) daalt naar verwachting van Fitch met 30 procent vergeleken met het niveau van het afgelopen jaar. De kredietbeoordelaar gaat er verder vanuit dat de staalreus zijn kaspositie inzet om zijn schulden omlaag te brengen.
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De Verenigde Staten zullen geen nieuwe importtarieven gaan invoeren over Chinese producten. Dat schrijft het Chinese persbureau Xinhua News Agency zaterdag op basis van bronnen rond de gesprekken tussen de twee landen.

Het van tafel vegen van de nieuwe importtarieven is de uitkomst van gesprekken tussen de VS en China bij de G20-top in het Japanse Osaka. "We hebben een goed gesprek gehad met de Chinese president Xi Jinping. Een heel goed gesprek zelfs", zei de Amerikaanse president Trump bij een persmoment in Osaka.

De Amerikaanse president Donald Trump dreigde een maand geleden importtarieven van 25 procent te heffen op 325 miljard dollar (285 miljard euro) aan Chinese goederen. Met de nieuwe importheffingen zou bijna de gehele Chinese export naar Amerika onder aan handelstarieven onderheven zijn. Deze tarieven zijn volgens het persbureau nu van tafel.

Ook worden de onderhandelingen over een handelsakkoord volgens Trump weer hervat. "We zijn terug op het goede spoor" zei de Amerikaanse president.

Het handelsconflict, dat vorige zomer ontstond, is in mei geëscaleerd. De twee partijen leken in die tijd een handelsakkoord te naderen, maar die onderhandelingen ontspoorden nadat Trump China had beschuldigd van het schenden van de afspraken uit het handelsakkoord.

Maandag naar de 17,- ???
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JPMorgan verlaagde het koersdoel voor Aperam van 32,00 naar 27,00 euro met een onveranderd Overwogen advies. Daarentegen werd door de Amerikaanse zakenbank het koersdoel voor ArcelorMittal juist verhoogd van 20,00 naar 22,50 euro met eveneens een Overwogen advies, aldus handelaar Bert van der Pol van Mijn-Effecten.

Door: ABM Financial News.
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Arcelor neemt laatste horde voor aankoop Ilva
Gepubliceerd op 1 jul 2019 om 08:30 | Views: 0 | Onderwerpen: staal

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ArcelorMittal 28 jun
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LUXEMBURG (AFN) - Staalgigant ArcelorMittal heeft de verkoop van onderdelen aan branchegenoot Liberty House Group afgerond. Hiermee is in totaal 740 miljoen euro gemoeid. Die afstoting was voor Arcelor de laatste horde voor de inlijving van de Italiaanse staalfabrikant Ilva.

Het gaat onder meer om de afwerkingslijnen rond Luik en de Luxemburgse dochteronderneming ArcelorMittal Dudelange. ArcelorMittal en Liberty House bereikten eveneens een akkoord over de overname van activiteiten in België, Luxemburg, Tsjechië, Roemenië, Macedonië en Italië.

Brussel gaf in april groen licht voor de afstoting. Bij de Europese Commissie waren aanvankelijk twijfels gerezen over de houdbaarheid van de deal, mede omdat die voor een groot deel met geleend geld zou worden gefinancierd. Nadat Liberty House had toegezegd meer eigen kapitaal te gebruiken voor de aankoop, ging de Commissie alsnog akkoord.

ArcelorMittal heeft al 610 miljoen euro ontvangen van Liberty House. Het bedrijf moet 110 miljoen euro borg storten om door Liberty House te worden gebruikt voor bepaalde investeringsprojecten als onderdeel van het goedkeuringsproces van de Europese Commissie.


www.iex.nl/Nieuws/ANP-010719-123/Arce...
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Ertsprijs stijgt na Australische exportkrimp

Gepubliceerd op 1 jul 2019 om 09:00 | Views: 964

AMSTERDAM (AFN/BLOOMBERG) - De prijs voor ruwe ijzererts zit stevig in de lift na berichten dat de Australische export dit jaar lager zal uitvallen. Daarmee zou voor het eerst in circa twintig jaar sprake zijn van een jaarlijkse daling van de uitvoer.

Volgens de Australische regering zullen mondiale zendingen van erts dit jaar ruim 4 procent lager uitvallen. Naast de Australische exportdaling zal ook in Brazilië sprake zijn van krimp. Vanuit China, 's werelds grootste ertsleverancier, zal wel meer erts worden verscheept. In China zijn verschillende signalen over krapte in de markt en de toestand van de staalindustrie. De staal- en ertsvoorraden dalen al twaalf weken op rij, waarmee sprake is van de langdurigste krimp sinds 2012.

De zogeheten futures voor erts steeg maandag met tot 6,3 procent tot bijna 120 dollar per ton in Singapore. In het tweede kwartaal van dit jaar was al sprake van de grootste prijsstijging voor erts sinds 2016. Australië gaat nu uit van 'free-on-board-prijzen' die met 80,10 dollar per ton 20 procent hoger liggen dan bij een eerdere raming.
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CoC Approves JSW Steel Resolution Plan For Asian Colour Coated Ispat

As per media reports, the Committee of Creditors of Asian Colour Coated Ispat has voted in favour of the INR 1,550-crore resolution plan submitted by JSW Steel. The plan for revival of the insolvent Asian Colour Coated plant includes an upfront payment of INR 1,525 crore to secured creditors and INR 25 crore to operational creditors. The CoC will issue the letter of intent to JSW Steel and once accepted by the company the resolution plan will be submitted to National Company Law Tribunal for the final approval.

ACCL, with one million tonnes of coated steel products, was referred to insolvency proceedings by State Bank of India last year. JSW Steel was the only bidder for the stressed asset. SBI, Bank of Baroda and IDBI Bank are the main lenders to Asian Colour Coated.

Source : Strategic Research Institute
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Network Rail Bids For part of British Steel’s Rail Services Business

BBC reported that State owned railway Infrastructure Company Network Rail has bid for British Steel's rail services business. Network Rail wants to take over the division responsible for the welding, finishing and storing of rails for the UK's train network. A Network Rail spokesman said "We have made an indicative offer for some railway critical assets although our overwhelming preference is that a purchaser for the entire business is found. We are very clear that our offer will not undermine that. Our role is to safely run the railway for the millions of people who rely on it every day and we are exploring all options to make sure we can continue to do that."

They added: "We continue to support British Steel, working with the liquidator and any new owner of the company."

Network Rail owns and operates the UK's railway network, including 20,000 miles of track, and buys 100,000 tonnes of rails from British Steel each year.

Source : BBC
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ArcelorMittal Blackmailing Government - Mr Luigi Di Maio

Italy’s industry minister Mr Luigi Di Maio has ArcelorMittal, of trying to blackmail the government He said “If somebody wants to side with Atlantia or with Arcelor Mittal which are blackmailing the state and asking for legal immunity, when in the case of ArcelorMittal they are threatening to close the steel plant, I stand with the workers and we will never side with multinationals that blackmail the state.”

ArcelorMittal has warned it could be forced to close the Ilva plant after Italy scrapped the legal immunity granted by previous governments to ease a purchase of the ailing southern Italian plant

ArcelorMittal had earlier said “Its Italian subsidiary ArcelorMittal Italia has highlighted to the Italian government its concerns about the current text of the Crescita law decree. If ratified as currently drafted, the provision concerning the Taranto plant would impair any operator’s ability to operate the plant while implementing the environmental plan approved by the Italian Government in September 2017, including for ArcelorMittal. The Taranto plant has been under seizure since 2012 and cannot be operated without legal protection until the environmental plan is implemented.”

Source : Strategic Research Institute
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British Steel To Undertakes Annual Maintenance Program

British Steel announced that it will shortly start its annual programme of safety and maintenance work at its sites in the UK and Europe. British Steel CEO Gerald Reichmann said “We strive hard throughout the year to maintain our operations but have always conducted our major improvement and maintenance activities during the summer months. It means we’ll soon be starting our 2019 programme which will see a planned reduction in some areas of production for a short period of time. This is entirely normal and will ensure we continue to improve our high-quality products and work in a safe and effective way.”

Every summer the business undertakes the planned works to further improve the safety and efficiency of its operations.

Source : Strategic Research Institute
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GFG Alliance Eying AUD 1 billion IPO For Australian Steel Units - Report

Reuters, citing banking and industry sources close to the company, reported that GFG Alliance is targeting to list parts of its Australian Liberty Steel business in a deal that could fetch about AUD 1 billion. Sources said “GFG is targeting September to list parts of the unit & under the IPO plans, which could stretch to October, GFG will float the local distribution and recycling business of the steel unit. The business will be renamed Infrabuild and GFG plans to keep a large stake in the company, the size of which is still being finalised.”

Sources added “GFG is not expected to include the South Australian Whyalla steel making business and iron ore mines or any international business in the listing.”

GFG had bought Liberty for AUD 700 million from Australian steel firm Arrium after it went into administration in 2017.

Source : Reuters
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ArcelorMittal Tailored Blanks Americas Produces 3 Millionth Door Ring

ArcelorMittal Tailored Blanks Detroit is celebrating the production of 3 million laser-welded steel door rings for AMTB’s Americas region. The company will host a celebration July 1 at the Detroit facility to mark the milestone. A laser-welded door ring serves as a critical part of a vehicle’s safety cage, protecting both the driver and passengers, and replaces conventional multi piece, spot-welded designs. The ability to weld together various grades of advanced steels into a single vehicle component improves performance and safety, supports light weighting goals, and helps reduce overall production costs for the automaker, the company states.

Contributing facilities to this milestone are AMTB Detroit, AMTB Pioneer (Ohio), AMTB Woodstock (Ontario), and AMTB Concord (Ontario).

Source : The Fabricator
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Luzhou Xinyang Selects Danieli Zero Bucket EAF Technology

Luzhou Xinyang Iron and Steel selected Danieli Zero-bucket EAF technology for two new electric arc furnaces to be installed in the new meltshop in Luzhou City, Sichuan Province, China. The two new 100t UHP Ultra-High Power furnaces feature Danieli original ECS Endless Charging System for continuous scrap charging and preheating. Each furnace will be equipped with a chemical package based on M-One combined Carbon and Oxygen injectors, and side Palmur lance with dynamic position based on steel level.

More technological packages such dynamic spray for electrodes, energy saving double layer Q-panel, automatic sampling and automatic tapping systems will allow Luzhou Xinyang to have reduced consumption and higher safety.

EAF startup is expected by beginning of August next year.

Source : Strategic Research Institute
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