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voda 9 juni 2021 10:30

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Embosal Installing Jumbo Pipe Mill to Widen Product Portfolio

United Arab Emirates based leading steel pipes & tubes producer Embosal Tube Mills is installing a new 800,000 tonnes per annum JUMBO ERW pipe line, 20”x20mm, to produce pipes in diameter range of 1-20” in 2-20mm wall thickness in lengths of 3-18 meters at its plant in Al Ghail in Ras Al Khaimah in United Arab Emirates. State of art ERW mill, in addition to medium to jumbo sizes, will produce smaller diameter pipes in higher thickness, which is usually available in seamless pipes. The new mill will be able to produce pipes in 20mm wall thickness for 7-20” diameters. The new ERW pipe mill is being set up with an investment of USD 40 million. The mill installation began in January 2021 and will be commissioned in July 2021.

Embosal has received seal of excellence from a large number prestigious projects in Middle East, Europe and Far East Asia in recent past, by supplying special steel pro?les to steel based projects to improve their construction projects by cutting costs by optimizing designs as well as reducing projects time lines with short delivery times. Embosal has supplied special steel pro?les to a large number of projects in Middle East including Dubai Expo 2020, Deira waterfront in Dubai, Six Flag Theme Park and Dubai Arena etc. Their special steel pro?les have also been supplied to a large number of construction projects spanning over commercial & residential building, metro rail, airports, seaports, sporting arenas and pipe lines etc.

Embosal started offering special steel pro?les to steel based project in India in 2020. Nippon Steel Trading India has undertaking marketing and distribution for supply of Embosal steel pro?les to Structural Consultants and EPC contractors for various steel based construction projects in India Embosal Director Mr Joby Thomas had said “With paradigm shift towards steel construction based projects, India has become an emerging market place for us. Steel based construction projects optimize their costs and execution period offering a unique proposition to end clients. Embosal is offering special steel pro?les to Indian clients without MOQ with very short lead time, due to proximity with UAE, to support their steel based construction projects.”

Embosal Mills have installed combined capacity of 270,000 tonnes per annum. The installed capacity of tube production lines are 120,000 tonnes per annum while the installed capacity of LSAW Pipe production line is 150,000 tonnes per annum. In addition to this jumbo ERW pipe mill, Embosal is planning to add more lines to increase their annual capacity to 1.5 million tonnes

Embosal mills can produce hot and cold formed structural hollow sections according to EN 10219 and EN 10210 standards. Tubes are produced in Square Hollow Sections in sizes of 30x30x3mm to 800x800x40mm, Rectangular Hollow Sections in sizes of 35x30x3mm to 800x750x40mm and Circular shapes in sizes of 300mm-1500mm diameters. Embosal also provides special sections including Elliptical, Semi Circular, Arched, Conical, Triangular, Hexagonal and Octagonal Pro?les.

To support global drive to reduce CO2 emissions, Embosal has reduced manufacturing process carbon footprints by opting for 30% of power requirement from solar power plants.

Source - Strategic Research Institute

voda 9 juni 2021 10:34

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JSW Steel Sues Nucor, US Steel & Cleveland-Cliffs of Slab Cartel

JSW Steel (USA) Inc and JSW USA Steel Ohio Inc announce the filing of a federal court lawsuit in the Southern District of Texas against three of the largest domestic steel companies, Nucor Corp, United States Steel Corp and Cleveland-Cliffs Inc, including its recent acquisition AK Steel Holding Corp. The lawsuit alleges that the defendant companies conspired to boycott and refused to supply plaintiffs with a critical feedstock, domestic semi finished steel slab, beginning in 2018 and continuing until today. The plaintiffs allege that defendants' cartel cost them hundreds of millions of dollars in lost profits, increased their expenses and caused them other damages, and also led to higher prices and significant harm to US steel buyers and significantly fewer jobs for US steelworkers.

JSW Steel (USA) Board member Mr Parth Jindal said that the defendants have long been the dominant US steel companies and used and continue to use anticompetitive tactics against smaller producers like JSW to succeed at all costs. He said "We bought into the US market a few years ago and made significant progress in improving our facilities and performance. In 2018, we announced our intention to make substantial investments to further expand and upgrade our facilities. These companies derailed those plans, and so we file this suit today to respond assertively. As we allege, they stated repeatedly that they could make semi-finished steel slab in the quantities and quality to meet our needs and that they were willing to sell it to us, but when we tried to get them to move forward, they dragged things out and made excuses. We are now convinced that it was all for show and that, in reality, they never intended to make or sell steel slab to us."

The plaintiffs' Complaint is based upon the federal antitrust laws and Texas state laws as well. It seeks treble damages, which are automatic under the federal antitrust laws, compensatory and exemplary damages, and attorneys' fees and costs. The plaintiffs are represented in the case by the law firm of Baker Botts LLP.

Source - Strategic Research Institute

voda 9 juni 2021 10:36

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ArcelorMittal’s XCarb Innovation Fund Invests in Heliogen

ArcelorMittal announced the completion of its first XCarb innovation fund investment since launching the initiative in March 2021. The Company has invested an initial USD 10 million in Heliogen, a renewable energy technology company which focuses on unlocking the power of sunlight to replace fossil fuels. Heliogen’s technology will harness solar energy by using a field of mirrors which will act as a multi acre magnifying glass to concentrate and capture sunlight. The sunlight will then be subsequently converted into heat HelioHeat, electricity HelioPower or clean fuels HelioFuel. All three Heliogen products have the potential to be applicable to the steelmaking process and support the steel industry’s transition to carbon-neutrality.

HelioHeat, for example, could be used to increase the temperature of air blown into a blast furnace, offsetting the use of fossil fuel. The Heliogen technology will also be capable of creating 100 per cent green hydrogen, which Heliogen is working to develop as its first HelioFuel. Hydrogen sits at the heart of ArcelorMittal’s Innovative-DRI technology pathway, which involves using hydrogen instead of natural gas as the reductant in the production of direct reduced iron.

In addition to the USD 10 million investments, ArcelorMittal and Heliogen have signed a Memorandum of Understanding which aims to evaluate the potential of Heliogen’s products in several of ArcelorMittal’s steel plants.

Source - Strategic Research Institute

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voda 9 juni 2021 10:38

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US Steel Sells Railway Assets of Transtar Fortress Transportation

United States Steel Corporation has agreed to sell Transtar LLC to an affiliate of Fortress Transportation and Infrastructure Investors LLC for USD 640 Million. The transaction is expected to close in the third quarter of 2021, subject to customary closing conditions including receipt of certain regulatory approvals. Upon completion of the sale, US Steel will recognize key strategic benefits from the transaction, including

1. Further align US Steel’s operating focus on its core mining and steelmaking business under its Best for All? strategy

2. A new financial structure which will unlock immediate incremental value for US Steel stockholders by monetizing a non-core asset

3. U.S Steel plans to use the proceeds of the sale to further strengthen its balance sheet, including deleveraging.

An initial 15 year contract to maintain the existing operations at the six operating railroads that make up Transtar - the Gary Railway Company in Indiana; the Lake Terminal Railroad Company in Ohio; Union Railroad Company LLC in Pennsylvania; Fairfield Southern Company Inc in Alabama; Delray Connecting Railroad Company in Michigan; and the Texas & Northern Railroad Company in Texas.

Citi acted as US Steel’s exclusive financial advisor on the transaction. Jones Day and Baker & Miller PLLC acted as U. S. Steel’s legal advisors on the transaction.

Source - Strategic Research Institute

voda 9 juni 2021 10:39

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ArcelorMittal Brazil Launches CO2 Reduction Target by 2030

ArcelorMittal Brazil launched a goal of reducing its CO 2 emissions by 10% by 2030 on 8 June 2021. The commitment was announced during an event to disseminate the ArcelorMittal 2020 Sustainability Report, as part of the company's actions to mark Environment Week. The goal established for the ArcelorMittal Group's operations in Brazil is an intermediate step within the steel producer's global effort to become carbon neutral by 2050. Globally, the company has already committed to investments of around BRL 1.9 billion for the development of carbon neutral technologies by the ArcelorMittal Group's Research & Development Centers.

Among the initiatives to be developed and implemented by ArcelorMittal Brazil are the increase in the use of scrap as a raw material, the use of natural gas and the optimization of the use of charcoal in the units that already use the fuel.

Globally, ArcelorMittal is studying alternative technologies to use process gases containing CO2, producing ethanol for consumption and use in the chemical industry. A process for the use of wood residues for the production of biofuel is also under development, similar to the process for the production of charcoal that is already used in Brazil. A promising technology, at an early stage of development at ArcelorMittal Hamburg Germany will allow the replacement of fossil carbon by hydrogen produced with clean energy to reduce iron ore.

In ArcelorMittal's Long Steel segment, a large part of the steel production is obtained through the use of steel scrap in electric furnaces, which has a lower CO2 emission intensity. In addition, the Juiz de Fora unit uses charcoal as a bio-reducing agent for iron ore in its blast furnaces. Charcoal comes from planted forests, and the pig iron production process allows the CO2 cycle to be closed, the CO2 emitted is sequestered by ArcelorMittal BioFlorestas' renewable forest stock. Thus, in addition to contributing to the climate, forest management favors biodiversity.

In the Flat Steel segment, the Tubarão industrial plant, the Group's largest plant in Brazil, is self-sufficient in electricity, using the gases generated in its processes, with an internal generation equivalent to the consumption of approximately 1 million people a year. The unit is also a pioneer among steel producers in registering and trading carbon credits and has two Clean Development Mechanism Projects approved by the United Nations Executive Committee on Climate Change. One of them stands out for being the first project approved for an integrated steel company in the world and co-generates electricity through the use of gases generated in the steelworks. The other project adopted with the generation of carbon credits is the recovery of heat from one of the coking plants, which produces an average of 170 MW of electricity, with the potential to generate credits of 2.5 million tons of CO2 in ten years.

Source - Strategic Research Institute

voda 9 juni 2021 10:40

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CSC to Cut Exports to Ensure Steel Supplies to End Users in Taiwan

Taiwan’s top integrated steel producer China Steel Corp announced that it is taking measures to curb speculation and maintain the stability in Taiwan’s steel market. It said “To ease the tight supplies of finished steel in the local market, CSC will prioritize providing steel for local end-users including tool and machinery manufacturers to the extent that its existing supply capacity allows. CSC will also temporarily suspend the export of some steel products to benefit all downstream steel consuming industries in Taiwan.”

CSC added that it has been asked by the local government and related associations to help investigate steel consumption and prices in eight major industries and the steel mill will be looking for evidence of any misconduct such as price gauging and hoarding in the industries value chains.

Source - Strategic Research Institute

voda 9 juni 2021 10:40

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Arvedi to Build Second Galvanizing Line in Trieste Italy

According to a report in local media, Italy’s second largest Italian steel producer Arvedi Group, during a meeting in Trieste, announced its intention to make additional investments will increase its investment in Trieste, at its Servola site. The company will invest a further EUR 90-100 million in order to install a second galvanizing line and to produce hydrogen in order to feed the furnaces necessary for the rolling operations.

This investment adds to the EUR 86 million investments that had already been announced by Arvedi to build new galvanizing and painting lines.

At the end of 2019, Arvedi had started the process to decarbonize and reconvert the Trieste plant that led to the halting of the hot steel area, coking plant and blast furnace. Currently, through its plant in Trieste, Acciaieria Arvedi can offer cold rolled products in a wide range of grades and sizes. The innovative hot rolling process in Cremona allows it to be supplied with coils with excellent geometrical characteristics for the production of cold rolled steels.

Source - Strategic Research Institute

voda 9 juni 2021 10:42

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USITC Extends Duties on CTL Plates from China, Russia & Ukraine

The US International Trade Commission determined that revoking the existing antidumping duty order on cut-to-length carbon steel plate from China or terminating the suspended investigations on this product from Russia, and Ukraine would be likely to lead to continuation or recurrence of material injury within a reasonably foreseeable time. As a result of the Commission’s affirmative determinations, the existing antidumping duty order on imports of this product from China and the existing suspension agreements concerning this product from Russia and Ukraine will remain in place.

This action came under the five-year (sunset) review process required by the Uruguay Round Agreements Act. The Uruguay Round Agreements Act requires the Department of Commerce to revoke an antidumping or countervailing duty order, or terminate a suspension agreement, after five years unless the Department of Commerce and the USITC determine that revoking the order or terminating the suspension agreement would be likely to lead to continuation or recurrence of dumping or subsidies (Commerce) and of material injury (USITC) within a reasonably foreseeable time.

The five-year (sunset) reviews concerning Cut-to-Length Carbon Steel Plate from China, Russia, and Ukraine were instituted on November 2, 2020.

Source - Strategic Research Institute

voda 9 juni 2021 10:43

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ArcelorMittal Bremen Extends Use of SST AI Platform

ArcelorMittal Bremen again has commissioned the Al company Smart Steel Technologies and thereby expands the SST Platform. In addition to the already established software products SST Casting Al and SST Surface Al, SST Rolling Al will now also be introduced. The platform will be integrated live with all relevant data sources from the hot rolling mill.

SST Rolling Al serves to optimize the hot rolling mill through automated monitoring, prediction and live recommendations. With the use of the SST Platform, every aspect of production is fine-tuned, and any inefficiency is eliminated. ArcelorMittal Bremen benefits from further quality improvement and cost reduction in a very short time by using the Al data platform developed specifically for steelmakers.

Source - Strategic Research Institute

Bijlage:

voda 9 juni 2021 10:45

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PESB to Select RINL CMD through Video Conferencing

Hans India reported that Public Enterprises Selection Board, for the first time, will conduct interview for selection of Chairman Managing Director of Rashtriya Ispat Nigam Limited on 5 June 2021 through video-conferencing mode due to the severity of second spell of Covid-19 pandemic.

Public Enterprises Selection Board had initiated the process to select the next chairman of steel-producer Rashtriya Ispat Nigam in June 2020. As per the notification irised by the PESB, while the minimum age of an applicant should be 45, he or she must be a graduate with a good academic record from a recognised university or institution. In terms of experience, the applicant should have adequate technical/operational/project management experience at a senior level of management in an organisation of repute, out of which at least five years during the last ten years should have been in project planning and management/ design and consultancy.

The post of RINL CMD fell vacant following the retirement of Mr PK Rath on May 31. At present, Director (Personnel) Mr KC Das has been asked to hold the additional charge of CMD post till he reaches the age of superannuation on June 30.

Source - Strategic Research Institute

voda 9 juni 2021 10:46

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EEW to Supply 64 Monopiles for Calvados Offshore Wind Farm

EEW has secured a contract to supply monopiles for 448MW Calvados offshore wind farm Courseulles-sur-Mer off France. EEW Special Pipe Constructions GmbH will manufacture 64 monopile foundations for Saipem project, located off Normandy. The contract was signed at the beginning of April 2021. EEW Holding Managing Director Mr Michael Hof said “We are proud that, after the good cooperation on the first Formosa II offshore wind jacket project, we are now able to implement the first monopile project for Saipem with Calvados Offshore Wind Farm.”

Totalling an estimated EUR 2 billion, the Calvados project involves the construction of 64 wind turbines, located over 10 km off the French coast. With a capacity of 450 MW, it is expected to produce the equivalent of the annual electricity use of 630,000 people, i.e. over 90% of the population of Calvados. It is expected to enter service in 2024. It is being developed by Éolien Maritime France, a consortium including EDF Renewables, EIH Sàrl and wpd. The project’s wind turbines will be manufactured in Le Havre at Siemens Gamesa Renewable Energy’s Quai Joannes Couvert plant, which is currently under construction.

Source - Strategic Research Institute

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voda 9 juni 2021 10:48

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Tata Steel BSL 100 Bed Covid Hospital Opens in Near Odisha Plant

India’s Steel Minister Mr Dharmendra Pradhan inaugurated t Tata Steel BSL’s 100 bed COVID-19 hospital facility near its plant in Odisha’s Dhenkanal district COVID-19 hospital facility virtually on 8 June 2021. Situated at the Kharagprasad Regional Higher Secondary School under Odapada block of the district, the hospital has 50 beds with piped oxygen, 40 beds with oxygen concentrators and 10 ventilator supported ICU beds apart from other medical equipment necessary for providing secondary level care to COVID-19 patients.

Tata Steel BSL Managing Director Mr Rajeev Singhal said “With active and continued help from the government, this COVID-19 hospital was made operational in a record period of two weeks. The hospital has round the clock doctors, paramedics, lab services, X-ray facility, and other necessary secondary care support services.”

Tata Steel CEO & MD Mr TV Narendran said “Tata Steel and Tata Group have been working with the government both at the Centre and state to fight the COVID-19. Apart from supplying more than 45,000 tonne of oxygen from April 1 till date, we have also been importing containers, setting up medical care and facilities and we are always happy to have the opportunity to do so.”

Source - Strategic Research Institute

voda 9 juni 2021 10:49

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ArcelorMittal Signs Pact to Compensate Residents of Itatiaiuçu

ArcelorMittal Brasil has signed of an agreement for indemnity and reparation to residents of the district of Pinheiros in Itatiaiuçu I state of Minas Gerais in Brazil, affected by the preventive activation of the Mining Dam Emergency Action Plan PAEBM, which took place on February 8, 2019. The Complementary Agreement Term includes criteria for compensation for housing, economic and agricultural activities, moral damages and part of collective damages and the final discussions on collective damages will be dealt with in a parallel agreement. It is the first agreement of this nature signed with Federal and State Public Prosecutors and the community, assisted by an independent technical advisor, which allowed the parameters to be defined collectively, in order to facilitate the construction of definitive repair solutions.

ArcelorMittal sought a composition capable of satisfactorily repairing all the damage caused by the evacuation and believes it has arrived at a substantial proposal, with a technical basis and referenced and widely discussed with all parties. Once the term is signed, the parties will begin individual negotiations with the affected families. The extrajudicial agreement makes it possible for the compensation process to take place in a less bureaucratic and more agile manner.

Main points of the agreement

Home

Families will be compensated according to the restriction on the use of the property located in the Self-Rescue Zone. Those who had their properties fully affected by ZAS will be able to choose between receiving full compensation compatible with the value of the property or joining the assisted purchase program for the acquisition of a new one. In both cases, the nuclear family will continue to own the property in ZAS. The partially affected households, on the other hand, may choose to receive compensation proportional to the impacted area and continue as owners or sell the property to ArcelorMittal.

Economic and agricultural activities

Those affected who demonstrate a loss of income will receive from the company the equivalent of 48 months of average monthly income loss. For the cultivation of gardens, the minimum amount of BRL 27,120.00 will be paid. Fruit cultivation will have the same value as a floor.

Moral damages

Moral damages will be paid individually and not by family nuclei, with a minimum value of BRL 10 thousand per person.

Collective damages

The axis referring to collective damages will be dealt with in future discussions, in a new Complementary Agreement Term to be signed with the Public Ministry and the Affected Persons Commission. However, with a view to fostering the local economy and stimulating income generation, the company has committed to already pay a monthly instalment of 2.5 minimum wages, for a period of 12 months, to the 655 families registered by the independent technical assistance and to family nuclei residing in the districts of Pinheiros, Lagoa das Flores and Vieiras, whose properties are located at a distance of up to 1 km from the limits of the ZAS.

Dam

The Serra Azul Mine dam has been deactivated since 2012 and ArcelorMittal is going to deface it, with the removal of the material contained in its interior. In order to make the decharacterization feasible, and in compliance with a resolution of the National Mining Agency ANM, ArcelorMittal will build an Downstream Containment Structure ECJ, capable of retaining the tailings of the dam in the event of failure, minimizing damage to property and the environment.

Source - Strategic Research Institute

Bijlage:

voda 9 juni 2021 10:50

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TMK Announces Results for January-March Quarter of 2021

Leading manufacturers of pipes for the oil and gas industry Russian TMK has announced interim consolidated results of operations for the three months ended 31 March 2021. TMK CEO Mr Igor Korytko said “TMK took a major strategic step in the first quarter of 2021 with the acquisition of the ChTPZ Group, which will further strengthen our leading position in the Russian market, expand our product portfolio and opportunities to develop new innovative products, and provide significant synergies to strengthen the Group's position. We also showed stable financial results in the first quarter of 2021 compared to the previous quarter, driven by continued recovery in business activity and improved economic conditions in TMK's key markets. The surge in raw material prices has put pressure on our operating costs, but we have been able to mitigate the impact on our profitability by improving our sales mix by increasing the share of seamless OCTG pipe with premium threaded connections and seamless industrial pipe. We expect further improvement in financial performance throughout 2021, driven by a recovery in demand in our key markets and market segments. I am confident that thanks to our constantly expanding product range and technological advantages, TMK will be able to take advantage of a more favorable market environment. "

Q1 Sales

Seamless pipes – 550KT, up 5% YoY

Welded pipes – 160KT, down 15% YoY

Total sales – 710KT, down 1% YoY

Q1 Financials

Revenue – RUB 65,061 million, up 18% YoY

Gross profit - RUB 12 481million, down 3% YoY

Adjusted EBITDA RUB 8 590 million, down 41% YoY

Adjusted EBITDA margin - 13%

Forecast for 2021

The Group expects that demand for OCTG pipes from Russian fuel and energy companies will remain stable, supported by continued development of existing and new projects by oil and gas companies, as well as an increase in the level of complexity of conditions for hydrocarbon production in Russia. The recovery in demand in the mechanical engineering industry, including power engineering, is expected to boost sales in the industrial pipe segment. The group expects that the level of consumption of industrial pipes in the European market will gradually recover after the lifting of the massive restrictive measures in connection with the COVID-19 pandemic and thanks to the ongoing industrial support measures from the government in the eurozone countries.

Source - Strategic Research Institute

voda 10 juni 2021 07:30

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EU & US to Set Deadlines to End Steel Tariffs

According to a draft communiqué, European Union and United States are set to commit at a summit in Brussels on 15 June to end their transatlantic metals and aircraft trade disputes and call for progress on a new study into the origins of COVID-19. The draft commits to ending a long-running dispute over subsidies to aircraft makers before July 11 and setting a December 1 deadline to end punitive tariffs related to steel and aluminium trade dispute. Despite pressure by US steel industry groups to keep the Section 232 national security tariffs the draft said "We commit to work towards lifting before 1 December 2021 all additional or punitive tariffs on both sides linked to our steel and aluminium dispute."

Former Latvian prime minister and EU’s Executive Vice President & Trade Commissioner Mr Valdis Dombrovskis told a session of European Parliament in Strasbourg "As a trust and confidence building measure, we have to deescalate and solve EU US trade disputes. EU hopes that the visit by Mr Biden would help achieve decisive progress on solving a steel tariff dispute as well as a two-decade spat over subsidies to plane-makers Boeing and Airbus.”

A US EU deal in May to avert escalation of the dispute left these in place while the two sides negotiate for six months to address global excess metals capacity largely centered in China.

The seven page draft aims to show concrete results of the new dawn hailed by EU leaders when US President Mr Joe Biden took over from Mr Donald Trump in January.

The tit-for-tat battle began in June 2018 when Trump imposed tariffs of 25% on steel and 10% on aluminium from Europe, Asia and elsewhere. EU responded with counter-tariffs on 2.8 billion euros worth of US products, including bourbon whiskey, jeans, orange juice and Harley-Davidson motorbikes.

Source - Strategic Research Institute

voda 10 juni 2021 07:31

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Vietnam Remains Major Steel Importer in Jan-May 2021

According to the General Statistics Office, Vietnam spent over USD 4.6 billion importing more than 6 million tonnes of steel in January-Mau 2021, up 38% in value and 9% in volume as against the same period last year. China was the largest supplier, followed by Japan, South Korea and India.

In May 2021, Vietnam imported 1 million tonnes of the products worth USD 913 million, down 5% in volume but up 44% in value year on year

In 2020, Vietnam spent nearly USD 8.1 billion importing 13.4 million tonnes of steel, down 15% in value and 8%t in volume against 2019.

Source - Strategic Research Institute

voda 10 juni 2021 07:32

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ABS Inaugurates High Quality Wire Rod Plant in Italy

Danieli Group’s Acciaierie Bertoli Safau has inaugurated its new quality wire rod 4.0 plants at Cargnacco in Pozzuolo del Friuli in the northeast Italian province of Udine. QWR 4.0 involves the most advanced technologies that will be used for the production of special and quality steel wire rod. When fully operational, the plant will boast an annual productivity of 500,000 tonnes at a maximum speed of 400 kilometres per hour. Acciaierie Bertoli Safau will be able to offer the entire dimensional range, expanding the portfolio with a range of 5-25mm, which integrates with that of the Luna Bordione's 13-63mm range.

Unlike the traditional wire rod for commodities, the new QWR system is mainly designed for the production of special steel wire rods widely used in the automotive world, for applications such as car suspensions, engine fixing screws, connecting rods and bearings. The areas of use also include drawing and the field of welding.

The plant has been designed to be extremely flexible and to be able to manage small groups of both common steels and special grades, therefore capable of operating according to a "tailor-made" logic. This system introduces multiple innovations in the field of safety, enabling the "zero man on the floor" concept, with most of the process and control activities highly automated.

The history of the company began in 1813, when Giuseppe Bertoli transformed his small workshop into a "battiferro" and founded the Officine Bertoli. In 1934 SAFAU, a capital company dedicated to metal working was then established in Udine. In 1988 it was included in the Danieli Group. Acciaierie Bertoli Safau has specialized for over thirty years in the production of special long steels and boasts a range that is unique in the world in terms of both quality and variety of products. The areas of application enable ABS to provide industries such as automotive, oil and gas, wind power and machines earthmoving.

Source - Strategic Research Institute

voda 10 juni 2021 07:36

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SSAB Issues Sustainability Linked Bonds

Sweden based SSAB AB has successfully issued a five-year senior unsecured sustainability-linked bond in the amount of SEK 2,000 million under its EUR 2bn EMTN programme, dated 2 June 2021. The new bond is due in June 2026 and carries a coupon of 3m Stibor + 185bps. The transaction generated strong interest from investors and the issue was oversubscribed. The proceeds will be used for general corporate purposes.

Sustainability-linked bonds are bonds tied to the performance of defined sustainability targets. SSAB intends to become the First in fossil-free steel and has tied the bond to SSAB’s newly launched environmental target for GHG emissions, which has been approved by the Science Based Targets initiative, stipulating a commitment to reduce SSAB’s GHG emissions by 35% by 2032 along with key actions set out between 2021 and 2032.

DNB Markets and SEB acted as financial advisors for the bond issue and SEB acted as advisor for the sustainability-linked finance framework.

Source - Strategic Research Institute

voda 10 juni 2021 07:36

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SMS to Modernize HSM of Panzhihua Steel & Vanadium Co

Panzhihua Steel & Vanadium Co Ltd of China has awarded SMS group the order for an extensive modernization of their 1,450 millimetre hot strip mill in Panzhihua in Sichuan Province. With this comprehensive revamping of the mill, in operation since 1996, Panzhihua intends to significantly improve plant availability, increase the production capacity, and expand the production range to include thin-gauge strip. The annual production capacity will be raised from currently 2.4 million tonnes to at least 3 million tonnes. The revamping will further enhance the flexibility of the HSM with regard to the product mix, which includes carbon steels as well as silicon steels and titanium strips.

The SMS group project scope includes the finishing mill, a laminar cooling system and a down coiler group, which will all be completely renewed. SMS will supply the engineering and the main components. A new seven stand finishing mill will be erected behind the existing finishing mill. The new mill stands will be equipped with hydraulic screw down systems, hydraulic loopers and CVC plus shifting and bending systems. In addition, the X-Pact Profile, Contour and Flatness Process model will be installed. This will enable the customer to roll high-grade materials in compliance with the most exacting demands on the geometric strip dimensions and tolerances.

The design of the laminar cooling line will provide very high flexibility in terms of cooling rates and cooling patterns enabling Panzhihua to produce highly demanding modern steel grades and be prepared for future demands. Flow meters for process control will assure high repeatability of operation to meet the highest quality standards.

Also the coiler area consisting of two down coilers will be completely replaced, including the related side guiding systems.

The modernization activities for the complete mill will be carried out during only two shutdowns. During the first shut down, which is scheduled for September 2021, the laminar cooling line will be replaced and a roller table bridge installed behind the existing finishing mill. With this roller table bridge installed, it will be possible to perform the foundation work for the new finishing line while the plant is in operation. During the second shut down in July 2022, the new finishing mill will be installed directly behind the existing mill together with the new coiler area. At the same time, the existing mill will be dismantled and the entry equipment relocated. The first hot strip is scheduled to be rolled in October 2022.

Source - Strategic Research Institute

voda 10 juni 2021 07:37

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Voestalpine Delivers Positive Results for Business Year 2020/21

Austrian steel maker voestalpine announced that business year 2020/21 was defined by an economic downturn of historic proportions. It said “While almost all customer segments saw demand melt away in the first business quarter, starting in the second quarter demand for voestalpine products rose once again despite renewed lockdowns in many markets and kept rising throughout the business year. The automotive industry, in particular, showed surprising strength once it emerged from its COVID-19-induced low, triggering substantial growth in demand for high-quality steel products. Aerospace and oil & natural gas were hit particularly hard by the crisis. The Railway Systems business segment, by contrast, developed along a stable trajectory throughout the reporting period. The storage technology segment, for its part, posted all-time high orders thanks to booming online commerce.”

1. Revenue declines by 11.4%, from EUR 12.7 billion in 2019/20 to EUR 11.3 billion

2. Operating result, EBITDA, was almost stable at EUR 1.1 billion as against EUR 1.2 billion in 2019/20

3. EBITDA margin was 10.1%

4. Profit from operations, EBIT, was EUR 115 million again EUR –89 million in 2019/20

5. Profit before tax of was EUR 11 million as against EUR –230 million in (2019/20

6. Profit after tax was EUR 32 million as against EUR –216 million in 2019/20

voestalpine Chairman Mr Herbert Eibensteiner said “In addition to the economic tailwind, the steps we took internally to cut costs and boost efficiency made a decisive contribution to the Group’s positive results for the year. Despite the economic crisis, voestalpine now has more liquidity and less debt than just a year ago. The strengths of our business model were on full display yet again during the COVID-19 crisis. As a result, we will continue to focus on high-tech segments that meet highest quality requirements and drive innovation in collaboration with our customers.”

On the Outlook for the business year 2021/22, Mr Eibensteiner said “Currently, demand from almost all of voestalpine’s important customer segments is high; in fact, some areas seem to be overheating due to catch-up effects. Even the oil & natural gas industry, which was hit particularly hard by the crisis, is starting to rebound incrementally. The most that can be expected for the aerospace industry, however, is a slight improvement in the course of the business year 2021/22. Given positive demand, from today’s vantage point we may expect the economy on the whole to continue along its upward trajectory at least up to the end of calendar year 2021. This assessment also follows the forecasts of economic researchers. In addition, the trillions in EU and US economic stimulus packages that aim to kick start the economy are expected to provide important impetus for growth after the end of the COVID-19 pandemic. Assuming that the current economic momentum will continue and that there will be no new, unexpected distortions of the market, the Management Board of voestalpine AG expects EBITDA for the business year 2021/22 between EUR 1.6 billion and EUR 1.9 billion.”

Source - Strategic Research Institute

Vertraagd	19 apr 2024 17:35
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