Arcelor Mittal « Terug naar discussie overzicht

Nieuws en info hier plaatsen (deel 4)

voda
0
Kobe Steel Lowers Earning Guidance for FY22

Strategic Research Institute
Published on :
10 Nov, 2022, 5:15 am

Japan's Kobe Steel has reported that its first-half net profit attributable to the company was JPY 28.01 billion, down 19% YoY from last year's JPY 34.52 billion. Operating income was JPY 19.77 billion, 57.8% lower than JPY 46.81 billion in the prior year. Meanwhile, net sales grew 20.3% to JPY 1.71 trillion from JPY 972.18 billion

Looking ahead for fiscal 2022, the company now expects net profit attributable to the company of JPY 45 billion, down 25% YoY. The company previously expected net profit attributable to the company of JPY 60 billion.
voda
0
Gerdau Reports Decline in Production & Sales in Q3

Strategic Research Institute
Published on :
10 Nov, 2022, 5:18 am

Brazil’s leading steelmaker Gerdau has posted a consolidated net profit of BRL 3.022 billion (USD 584 million) for the third quarter of 2022, against BRL 4.298 billion achieved in the previous quarter. Net sales declined by 7.9% QoQ to BRL 21.149 billion and EBITDA declined by 19.6% BRL 5.389 billion. The result reflects the high levels of demand for steel in the construction and industrial sectors in North America. The Operation's Ebitda in the region reached BRL 2.6 billion, with an adjusted Ebitda margin of 32.9%, both historical records for a third quarter.

The production of crude steel declined by 13.5% to 2.965 million tonnes, while sales of steel products declined by 9.7% to 2.930 million tonnes

Brazil – 39.0% share in sale

North America – 36.0%

South America – 9.0% YoY

Specialty Steel Business – 16%

During the third quarter of 2022, Gerdau invested BRL 1.1 billion, of which BRL 654 million in maintenance and BRL 402 million in expansion and technological updating initiatives. Of the total invested in the period, R$ 190 million includes expansion of forestry assets, updating and improvement of environmental controls, technological improvements that result in energy efficiency and reduction of greenhouse gas emissions.

As a highlight, Gerdau recently started operations of the new continuous casting of blocks and billets at the Pindamonhangaba (SP) plant, an investment of R$ 700 million. The equipment will allow the company to have a more automated process with better metallic yield, resulting in the delivery of differentiated products and an even higher level of quality for demanding markets. The unit's technological update is in line with future prospects for increasing the array of electric and hybrid vehicles in Brazil.
voda
0
Bluescope Celebrates 50 Years at Western Port

Strategic Research Institute
Published on :
10 Nov, 2022, 5:20 am

Half a century of operations was celebrated on 3 November 2022 at the home of BlueScope’s Victorian COLORBOND steel manufacturing site at Hastings. BlueScope Western Port, the Mornington Peninsula’s largest private employer, hosted an anniversary event for current and past employees. BlueScope Western Port, which opened under the name John Lysaght Australia in 1972, currently employs around 800 people from the region, howeve, over the last 50 years it has employed around 10,000 people.

The foundation for the next 50 years for BlueScope Western Port has been well laid. In March 2022, we opened our new service centre, with a steel processing capacity of more than 100,000 tonnes per annum.

More than one million tonnes per annum of steel products such COLORBOND steel, ZINCALUME® steel, and TRUECORE steel are made at Western Port, destined for national and international markets.

BlueScope’s Western Port site has evolved from two earlier company trading names: JLA - John Lysaght (Australia) Pty Ltd, BHP Steel - Broken Hill Proprietary Company Limited, Steel Division.
voda
0
Mazars Quits British Steel Audit Role

Strategic Research Institute
Published on :
10 Nov, 2022, 5:22 am

The Guardian reported that audit firm Mazars has stepped away from the role of auditor after British Steel refused to pay for signing off on its books. In a filing at Companies House, Mazars noted its resignation as auditor for British Steel, due to a dispute over what the client was willing to pay for its services. The resignation occurred in July, but only emerged in November, days after British Steel owner Jingye was reported to have asked the UK Government for financial support.

Mazars told Companies House “Based on our understanding of the complexity, risk and control environment of the company gained from our prior year audit, we proposed the minimum fee we believed necessary to audit the financial statements of the company to an acceptable level of audit quality. Despite extended discussions, the company was not prepared to agree to that minimum fee level. Furthermore, to date, the company has also not agreed to pay requested overruns for delays and audit issues arising during the prior year audit. Consequently, we have resigned as auditor to the company.”

While Mazars also noted it was not aware of any matters that it should bring to the attention of the company’s creditors, its exit will have raised further questions on the future of British Steel.

British Steel Limited is a long steel products business. It was founded in 2016 with assets acquired from Tata Steel Europe by Greybull Capital, before being purchased by the China headquartered Jingye Group in 2020. At that point, the company’s auditor was already Mazars. It was reportedly paid £323,000 for its work on the company’s 2020 audit. However, it has since sought compensation for the difficulties of that audit something reports in the British press suggest the steelmaker balked at. At the same time, Mazars quoted fees to sign off on the company’s books for the latest financial year and British Steel seems to have been unwilling to meet those expectations either.
voda
0
Hyundai Steel Contemplating Exporting Semis - Report

Strategic Research Institute
Published on :
10 Nov, 2022, 5:23 am

Business Korea reported that South Korea’s second largest steelmaker Hyundai Steel is considering making semifinished products with molten iron, as it cannot make finished products with molten iron due to a prolonged labor strike. The company's unionists have been staging a guerrilla-type strike for more than a month, making it difficult to put the molten iron from the blast furnaces at Dangjin Works into a hot rolling process. Since October, the labor union walked away in a guerrilla-type strike, wreaking havoc on the operation of the hot rolling mill at Dangjin Works.

Hyundai Steel made semifinished products such as pig iron and slabs with the molten iron, and left them in stock. Eventually, as the inventory builds up, the company is considering exporting it as well. If Hyundai Steel goes ahead with the export of semifinished products such as slabs, this will create significant implications for the Korean steel industry

If this happens, the Korean industry will have trouble receiving steel products, as Hyundai Steel will also experience production disruptions after POSCO’s Pohang Works.

Hyundai Steel’s labor union is at odds with the management over wage and collective bargaining and performance-based pays. As negotiations did not go smoothly, the labor union went on a partial strike at Dangjin Works beginning from the end of September. This strike which initially focused on production lines for thick steel plates, special steel products and wire rods, was extended to hot rolling mills on October 5. As the strike spread to the hot-rolling mills, a shortage of steel products, mainly hot-rolled steel sheets, is getting worse.
voda
0
Calix Awarded ARENA Funding for Zero Emissions Steel Technology

Strategic Research Institute
Published on :
10 Nov, 2022, 5:25 am

Australian Calix Limited has announced that it has received a AUD 947,035 grant from the Australian Renewable Energy Agency, providing approximately 48% of the funding for an 11-month study for a Zero Emissions Steel Technology, ZESTY, iron demonstration plant. Calix Limited plans to build an annual 30,000 tonnes renewably powered ZESTY-iron plant, which will produce green hydrogen for the direct reduction of iron ore to sponge iron.

ZESTY can be electrically heated and is compatible with intermittent sources of renewable generation and grid load balancing applications. The unique, indirect heating approach not only enables efficient electrification, but also removes sources of combustion and the generation of hydrogen-oxygen flames, allowing a simpler design and processing at significantly lower temperatures than a conventional BF.

Unlike other direct reduced iron technologies, Calix’s indirect heating of the reduction reaction with renewable power means hydrogen is not consumed as a fuel, only as a reductant, and is easily recycled in the process. As such, ZESTY is targeting the minimum hydrogen use of 54kg of hydrogen per tonne of iron, enabling more efficient and economical production of green iron and steel.

ZESTY’s ability to handle small particle sizes has the potential to more easily remove impurities compared with other processes, which require pelletised and typically higher grade iron ores. Further testing and validation of this potential is underway. ZESTY iron aims to enable steel producers to add green iron directly into their existing processes to provide a simple and efficient route to emissions reduction.

ZESTY steel aims to enable steel producers to add ZESTY directly into their process to produce lower carbon, and ultimately zero emissions steel products.
voda
0
Government May Include Steel in RoDTEP for Exports

Strategic Research Institute
Published on :
10 Nov, 2022, 5:26 am

Reuters, citing a senior government official, reported that India's trade ministry has sought to extend an export promotion scheme to reimburse some local levies for domestic steel producers as the industry reels from steep fall in shipments. The official said "The finance ministry’s revenue department will take a call on this, as expanding the scheme requires additional budgetary support.”

The source added “Government will have to set aside nearly USD 244 million annually to offer refunds on such taxes to the steel sector.”

The Remission of Duties and Taxes on Export Products scheme offers refunds against various embedded taxes to exporters across sectors such as automobiles and agricultural produce, with steel exports presently outside its remit.

The report quoted Indian Steel Association Secretary General Mr Alok Sahay as saying that “Levies, duties and taxes, which are not subsumed in the goods and services tax, can add 8%-12% to costs for the steel industry. The steel industry needs RoDTEP to offset these embedded costs of industry for parity with other exporting countries.”
voda
0
Evraz to Need New Licenses from UK's OFSI for North American Sale

Strategic Research Institute
Published on :
10 Nov, 2022, 5:36 am

Interfax reported that Russian steel and mining group Evraz, which in August announced plans to sell its North American division, might need additional licenses from the government of the United Kingdom to complete the sale. Evraz North America said “The process of preparing for the sale is permitted by the current general license, but another licenses is expected to be needed to carry out the sale. Such a transaction will require regulatory approval.”

While the process of preparing for the sale is continuing, the counterparty, terms and cash component of the transaction have not been determined yet, and this could take several months,.

Evraz had said on 10 August that it is launching the process of soliciting proposals for the acquisition of its North American subsidiaries. The sale will allow to unlock the stand-alone value of the North America business. The solicitation process is currently being conducted under the Office of Financial Sanctions Implementation General License INT/2022/1710676 and we are in contact with OFSI as part of this process. The possible transaction will be subject to regulatory and corporate approvals and applicable sanctions laws, and will require approval from relevant sanctions authorities, including OFSI.
voda
0
LKAB Opts for Safer Mining Plan for Kiruna Iron Ore Mine

Strategic Research Institute
Published on :
10 Nov, 2022, 4:30 am

Leading Swedish iron ore miner LKAB announced that decision as how the Kiruna mine will be mined at depth has been taken. LKAB has opted for a stable pillar solution in the middle of the mine, in the Block 22 area. This means that one mine will effectively become two. The decision has been taken to leave an approximately 700-metre-broad pillar in place, which corresponds to about 90 million tonnes or about three years’ production. And, although some ten percent of production is lost, the profits are considerably greater.

On May 20th 2020 the most dramatic seismic event ever recorded in the Kiruna mine occurred. The event had a magnitude 4.2 on the local magnitude scale, and a relatively widespread area sustained varying degrees of damage. In the days that followed, activity was intensive and all focus was placed primarily on surveying the damage. Over two years have passed since the major seismic event occurred in the Kiruna mine. Since then, however, the mine has been a hive of activity. Enormous efforts have been made to restore the damaged Block 22 area, while considerable resources have been invested in analysis, rock reinforcement damage survey, mining planning and increased instrumentation.

The fact is, as mining progresses deeper, rock stresses increase. These stresses can never be eliminated but they can be reduced, for example, by adapting the mine layout, i.e., how production, infrastructure – roads and production areas – are planned and placed in relation to factors including the geology. When an orebody is mined out, rock stresses must find new paths around and under the mined-out area. This is when rock stress concentrations are induced and, if the stresses exceed the strength of the rock mass, the rock mass ruptures. Seismic activity, sudden failures in the rock mass, release enormous amounts of energy

In simplified terms this means that the orebody is reduced in volume in the middle of the mine, in the area in which Block 22 is situated. This means that the hanging wall and the so-called barren rock allow less space for blocking up as areas are mined out. The underground mining method employed by LKAB is based on the hanging wall being blocked up, fragmented and successively caved in to the mined-out areas, but in a highly controlled manner.

In a way, the pillar solution enables greater flexibility, since vertical mining and sequencing will be somewhat easier to manage. Production must follow a pattern – a production flow, because all blocks are impacted by one another. In effect, this means that the southern mine will not be affected by operations in the northern mine, and vice versa.
voda
0
Indian HRC bids drop following GCC/Turkey premium deals
238 Views

Following the conclusion of deals last week in the Gulf Cooperation Council, Turkey and Nepal, bids for Indian hot rolled coil have plunged this week, multiple sources confirm to Kallanish.

The deal closures in the GCC and Turkey fulfilled expectations of Indian material commanding a premium over other regions for shorter lead times.

According to sources, two separate deals for 30,000 tonnes each of Indian-origin A36 grade HRC concluded on Thursday and Friday respectively at $578-583/tonne cfr GCC and $582-590/t cfr Turkey, netting back to $550-555/t fob India.

This week, bids for boron-added 2mm+ structural grade HRC plunged $20-30/t on-week to $560-565/t cfr GCC, equating to $525-530/t fob India for December shipment. Indian sources inform of floating offers at $585-590/t cfr levels, against bids at $560-565/t cfr. No deals were heard concluding this week so far.

Current indications to Turkey are meanwhile heard at $580-590/t cfr Turkey. According to sources, the majority of Turkish buyers are mulling importing Russian material on the back of very-short-lead-timed deliveries, resulting in no Indian-origin bookings being reported.

Besides their domestic market, Indian mills are banking only on the GCC and Turkish markets, as well as Nepal, says a trading source. “A few deals were concluded on the back of shorter-lead delivery from India to GCC [and Turkey] and its proximity monopoly to Nepal.”

A deal for 10,000t of HRC to Nepal was heard concluding at INR 50,000/t ($614.43) cpt Raxual last week. Current offers are hovering at the same level.

Vietnam continues to remain a low priority for Indian HRC; most buyers in Ho Chi Minh City have reduced HRC intake. Indian mills believe their offers of $560/t fob are unable to compete with Chinese offers in Vietnam and thus no quotes were indicated to Vietnam this week.

Indian structural grade HRC offers to Europe are noted at $615-620/t cfr, against bids of around $570-580/t cfr Antwerp. Offers for boron-added DC-01 grade cold rolled coil are meanwhile heard at $720-730/t cfr Antwerp.

In the domestic Indian market, offers for E250-grade HRC remained stable on-week at INR 56,000/t ex-Mumbai. Quotes for E350 and GI are heard at INR 58,500-59,000/t and INR 64,500/t ex-Mumbai, respectively.

“Indian mills are analysing the domestic market and kept prices stable for the month,” informs a source. “We heard automotive sectors are also mulling to re-negotiate and lower their prices with mills, which will again drop sentiment among steelmakers.”

An Indian steel major meanwhile reportedly imported 40,000t of HRC from Japan at around $550-580/t cfr Mumbai. Current offers from Japan are noted at $565-570/t cfr Mumbai.

Sayed Aameer India
Service
0
ArcelorMittal had in het derde kwartaal last van de gedaalde staalprijzen en zag de omzet dalen ten opzichte van het voorgaande kwartaal. De kosten van met name energie namen ook een flinke hap uit de winst. Topman Aditya Mittal waarschuwde ook voor de onzekere economische situatie voor de industrie.
voda
0
Beursblik: daling EBITDA ArcelorMittal valt mee

ING handhaaft koopadvies.

(ABM FN-Dow Jones) ArcelorMittal heeft in het derde kwartaal van dit jaar het EBITDA-resultaat fors zien dalen, maar de terugval valt mee. Dit oordeelde analist Stijn Demeester van ING donderdag.

Het EBITDA-resultaat daalde op kwartaalbasis met 48 procent tot 2,7 miljard dollar, maar lag 14 procent hoger dan de 2,4 miljard dollar waar de consensus op mikte, zo merkte Demeester op. De staalreus benadrukte zelf dat de sterke marktontwikkelingen uit de afgelopen twee jaar, flink verslechterden in het derde kwartaal, vanwege seizoensgebonden effecten, een terugval in de prijzen, hogere energiekosten en voorraadafbouw.

ING noemde verder de vrije kasstroom van 1,1 miljard dollar sterk, waardoor de schulden ook daalden tot 3,9 miljard dollar. ArcelorMittal gaf al aan de schulden terug te willen brengen van 4,2 miljard dollar in juli van dit jaar naar 3,5 miljard dollar ultimo 2022.

ING verwacht dat de variabele kosten per ton staal in het vierde kwartaal zullen dalen, maar minder hard dan de omzet per ton, terwijl ook de vaste kosten wat zullen afnemen. Ook is de piek in het werkkapitaal achter de rug, zo stelde Demeester, en dat zal de vrije kasstroom vanaf het vierde kwartaal van dit jaar ondersteunen.

ING handhaafde het koopadvies op ArcelorMittal met een koersdoel van 39,00 euro. Het aandeel daalde donderdagochtend licht tot 23,98 euro.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999
voda
0
Metinvest Steel Used in Ukrainian Hetman Ivan Mazepa Corvette
U
Strategic Research Institute
Published on :
11 Nov, 2022, 5:02 am

Ukrainian Navy’s The Hetman Ivan Mazepa corvette, built in 2021 in Turkey, was launched in Istanbul at the beginning of October. The ceremony of launching the corvette took place with the participation of the First Lady Ms Elena Zelenska and the President of Turkey Recep Mr Tayyip Erdogan. The corvette will serve Ukraine and will be the first ship of the "Ada" class in the Ukrainian Navy.

Corvettes are a class of surface warships for guard and convoy service, anti-submarine and anti-aircraft defense of naval bases and bases.

Ukrainian steel maker Metinvest also contributed to the construction of the corvette. In particular, more than 1,000 tonnes were shipped for construction from the Azovstal and MMKI plants before the start of the full-scale war. Part of the batch was delivered from the Italian asset Metinvest Trametal, where metal was made from slabs from Azovstal.
voda
0
Swiss Steel Reports 78% YoY Shrinkage in Q3 EBTIDA

Strategic Research Institute
Published on :
11 Nov, 2022, 5:03 am

Switzerland’s leading steelmaker Swiss Steel has reported slowdown in activities in July-September 2022 quarter. Swiss Steel CEO Mr Frank Koch said “We saw the usual seasonal slowdown in activity during the summer months. This was additionally exacerbated in these challenging times by lower market demand, which we had already anticipated in our production planning. The continuous uptrend in our revenue to EUR 946.8 million in the third quarter of 2022 compared to the prior-year quarter was mainly driven by an almost 40% increase in the average sales price to EUR per tonne 2,604, while our sales volume dropped by 11% during the same period. These factors resulted in an adjusted EBITDA of EUR 9.6 million. Sharply fluctuating market demand and continued high costs for input factors will require further measures to adjust our production and cost positions in the coming months.

Revenue rose by 24 % to EUR 946.8 million in Q3 2022 versus EUR 765.0 million in the prior-year quarter, while the sales volume declined from 410 kilotons to 364 kilotons

Average sales prices continued their strong upward trend, climbing from EUR/t 1,868 to EUR/t 2,604 year over year in the third quarter, mainly reflecting higher raw material and energy prices

Adjusted EBITDA for Q3 2022 reached EUR 9.6 million, compared with EUR 41.8 million in Q3 2021

Mr Koch added “Nonetheless, we are making good progress with our strategic SSG 2025 program. On September 1, 2022, we took the first important step by operationalizing our new sales Divisions Stainless Steel, Engineering Steel and Tool Steel. Supported by the Group-wide harmonization of production processes, the holistic market approach of the new organization will create more effective and tailored customer services in the future.”

He also said “The current energy crisis shows the importance and necessity of further strengthening our positioning in sustainable steel production. We have finalized our roadmap to meet our Science Based Target Initiative (SBTi) commitment and will reduce our CO2 emissions by 42 % during the next decade, starting from our current carbon footprint that is approximately 78 % below the global industry average.”

Swiss Steel highlighted “The geopolitical situation remains unstable, supply chains continue to face manifold disruptions and a potential economic slowdown has become imminent, predominantly in Europe. We currently cannot definitively assess the material uncertainties resulting from energy pricing and availability and the legal framework for possible political countermeasures. As a consequence, we expect ongoing subdued market demand and a resulting decline in margins. Assuming no additional material disruptions, we forecast an adjusted EBITDA at the lower end of the unchanged range between EUR 220 and 260 million.”
voda
0
CSN Reports Reduced Shrinkage in EBITDA in Jul-Sep’22 Quarter

Strategic Research Institute
Published on :
11 Nov, 2022, 5:05 am

Brazil’s leading steelmaker Companhia Siderurgica Nacional has reported an increase in sales volume in all operating segments in July-September 2022 quarter, highlighting the resilience of industrial activity in the period. However, due to lower prices in the international market and inputs cost pressures, the quarter's EBITDA reduced. As a result, consolidated Adjusted EBITDA in Q3 of 2022 reached BRL 2.7 billion with an EBITDA Margin of 24%.

CSN’s plate production totaled 1,027 Kton, a performance 15.4% higher than in the previous quarter. In turn, the production of flat laminates, our main market, reached 911 Kton, an increase of 18.7% compared to 2Q22, due to the normalization of the production process since the previous quarter was impacted by planned maintenances.

Total sales reached 1,160 Kton on the third quarter of 2022, a volume 18.2% higher than in the same period of last year. When analyzing the behavior in the different markets, it is perceived that domestic sales were the main responsible for this growth by adding 859 thousand tons of steel products, an increase of 18.7% compared to 2Q22, as a result of a very resilient demand and more competitive prices.

In the foreign market, 3Q22 sales totaled 301 thousand tons and were 12% lower than those realized in 2Q22, as a consequence of a weaker sales volume verified in Europe, affecting the results of SWT and Lusosider. In the quarter, 22 Kton were exported directly and 279 Kton were sold by subsidiaries abroad, 62 Kton by LLC, 159 Kton by SWT and 58 Kton by Lusosider.

In relation to the total sales volume in 3Q22 compared to the previous quarter, the construction (+49%), distribution (+37%) and automotive (+9.5%) segments were the main positive highlights of the period and ended up compensating for the still uncertain period lived by the home appliances sector and industry, mainly in the State of Sao Paulo.
voda
0
Voestalpine Reports Record Performance in First Half of 2022/23

Strategic Research Institute
Published on :
11 Nov, 2022, 5:06 am

Austrian steel and technology group Voestalpine has benefited in the first half of 2022/23 (April 1st to September 30th) from very good demand in most market segments as well as from high prices for its products, generating record highs year over year in a difficult economic environment. The voestalpine Group posted record revenue as well as record highs in all key performance indicators for the first half of its business year 2022/23. Year over year, the Group boosted revenue by more than one third, from EUR 6.8 billion to EUR 9.3 billion. EBITDA soared 42%, from EUR 1 billion to EUR 1.4 billion.

EBIT jumped year over year by 40.7%, from EUR 638 million to EUR 898 million despite impairment losses taken in the High Performance Metals Division (as previously reported); in particular the total of EUR 173 million stem from higher discount rates, specifically, EUR 54 million in impairment losses at Buderus Edelstahl (Wetzlar, Germany) and EUR 119 million at the HPM business unit.

Profit before tax for the reporting period rose to EUR 846 million—a year-over-year increase of 41.2% from EUR 599 million. Profit after tax soared 47.2% to EUR 715 million (H1 2021/22: EUR 486 million).

Voestalpine said “The momentum particularly in the energy sector was very strong throughout H1 2022/23 due to high energy prices worldwide. Likewise, the pronounced rebound in the aerospace industry that is being driven by the growing need for single aisle aircraft due to the rising number of passengers in regional air traffic also continued during the current business year’s first two quarters. As usual, the Railway Systems business segment followed a solid development despite the challenges in logistics. Its European core markets saw rising demand from the mass transit segment, while its markets beyond Europe benefited from the continued positive trend in the heavy-haul transport segment. By contrast, the white goods and consumer goods industry as well as the construction industry had to contend with declining demand toward the end of the first half of 2022/23.”

Voestalpine added “Supply chain bottlenecks continued to hamper the automotive industry, causing it to remain stuck on a moderate level in Europe. The business environment at the Group’s facilities overseas was better; economic conditions especially in China continued to be favorable despite comprehensive lockdowns. The highly satisfactory performance of the storage technology in previous years continued unabated, and demand for voestalpine’s products from the solar industry also developed very well during H1 2022/23.”

Voestalpine while giving outlook highlighted “Economic sentiment gradually deteriorated over the first half of the business year 2022/23, and the uncertainties as to the ramifications of the war in Ukraine particularly for Europe also continued to grow. In turn, economic forecasts are becoming increasingly pessimistic. Toward the end of the reporting period, first signs of restraint on the part of customers in some of the voestalpine Group’s market segments already reflected the gradual loss of economic confidence. Hence the Management Board of voestalpine AG expects the global economy to cool off substantially during the second half of the business year 2022/23.”

Voestalpine said “In its view, the biggest challenges during this period will arise in Europe, whereas the downturn in North America should still remain modest over the next few months. As far as the voestalpine Group is concerned, demand in Brazil is expected to decline but only slightly on the whole despite the expected weakening of the domestic economy. We expect China to continue more or less along its current trajectory and deliver restrained growth in the current business year’s second half. Hence the voestalpine Group’s global positioning should help at least to support earnings despite the expected contraction of the economy in the current business year’s second half. Sector diversification will further help to stabilize the situation. While demand in traditionally cyclical industries such as the consumer goods, white goods, construction, and mechanical engineering industries is expected to decline over the business year’s next two quarters, we expect the railway technology segment to follow a stable trajectory and both the energy and the aerospace sectors to continue their upward trend in the second half of the business year as well. In the automotive industry, no improvement in demand for voestalpine products is expected by the end of the 2022/23 business year.”

Given the voestalpine Group’s excellent earnings performance in the first half of the current business year 2022/23 and given the expectation that the global economy will cool in the second half of the business year 2022/23, the Management Board of voestalpine AG currently expects EBITDA of between EUR 2.3 billion and EUR 2.4 billion, as already announced on October 24, 2022. This figure includes positive non-recurring effects of about EUR 120 million from a real property sale that is expected to close during the current business year.
voda
0
Salzgitter Flachstahl Presents New Hot Dip Galvanizing Line FV3e

Strategic Research Institute
Published on :
11 Nov, 2022, 5:08 am

German steelmaker has made its largest single investment of the past ten years with its hot dip galvanizing line no 3 project FV3e. Around EUR 200 million has been invested in this complex, large-scale plant which will enable Group subsidiary Salzgitter Flachstahl to expand its position as a leading supplier in the premium segment. The SMS group based in Düsseldorf is partnering the project as plant manufacturer.

The new production plant with an annual capacity of 500,000 tons supplements the two existing hot dip galvanizing lines. The new plant will produce hot dip galvanized sheet with thicknesses between 0.7 and 2.5 millimeters, in widths between 900 and 1,700 millimeters. The coils of strip will have a maximum weight of 32 tons.

Operational readiness was achieved in October 2022. The plant will shortly be producing high- and ultra-high-strength steels for vehicle body and chassis applications which play an important role in both lightweight automobile design and vehicle safety. In the domestic appliances sector, the steel products feature in applications such as sophisticated surface components.

The annealing furnace is the centerpiece of the new plant. In comparison with the existing hot dip galvanizing lines, the material will now be heated and cooled significantly faster in the furnace and reach a higher annealing temperature. These are precisely the characteristics that support the production of high- and ultra-high-strength steel grades. What’s more, the configuration of the line as a whole also fulfills the structural as well as technical requirements for the implementation of further innovative material concepts.

It represents an essential element in the Salzgitter Group strategy which focuses on qualitative growth in flat rolled steel products. The new line will further strengthen the Group’s position as a leading manufacturer of premium products for national and international customers in the automobile industry and the domestic appliance sector. In addition, 70 new jobs will be created as the new plant comes into operation.
voda
0
Volvo Delivers Electric Trucks with Fossil-Free SSAB Steel

Strategic Research Institute
Published on :
11 Nov, 2022, 5:09 am

Volvo Trucks has started series production of heavy-duty electric, 44 tonne* trucks in September 2022, as the first global truck manufacturer to achieve this. Some of the electric trucks will also be the first trucks in the world that are built with fossil-free steel. The first steel produced with hydrogen is being used in the electric truck’s frame rails, the backbone of the truck upon which all other main components are mounted. As the availability of fossil-free steel increases, it will also be introduced in other parts of the truck.

The fossil-free steel is produced by the Swedish steel manufacturer SSAB and is made by using a completely new technology with fossil-free electricity and hydrogen. The result is a significantly lower climate impact and an important step towards a net-zero emissions value chain. Among the customers that will have fossil-free steel in some of their electric trucks are Amazon and DFDS and, through the transport company Simon Loos, Unilever.

Today, around 30% of the materials in a new Volvo truck come from recycled materials. Also, up to 90% of the truck can be recycled at the end of its life. Fossil-free steel will be an important complement to the traditional and recycled steel used in Volvo’s trucks.
voda
0
BaoSteel to Build Megaton Scale CCUS Project in East China

Strategic Research Institute
Published on :
11 Nov, 2022, 5:10 am

Chinese steel giant Baosteel has signed a memorandum of understanding on cooperation with Sinopec, Shell (China) and BASF (China) in Shanghai on 4 November 2022. The four companies will cooperate to launch China's first megaton scale CCUS (Carbon Capture, Utilization and Storage) open project in East China.

The four companies are aiming to decarbonize existing industries in East China, creating a low-carbon product value chain, and promoting the implementation of China's carbon peak and carbon neutrality target.
35.173 Posts, Pagina: « 1 2 3 4 5 6 ... 1623 1624 1625 1626 1627 1628 1629 1630 1631 1632 1633 ... 1755 1756 1757 1758 1759 » | Laatste
Aantal posts per pagina:  20 50 100 | Omhoog ↑

Meedoen aan de discussie?

Word nu gratis lid of log in met uw e-mailadres en wachtwoord.

Direct naar Forum

Detail

Vertraagd 18 apr 2024 17:35
Koers 23,800
Verschil +0,290 (+1,23%)
Hoog 23,960
Laag 23,560
Volume 2.676.573
Volume gemiddeld 2.405.623
Volume gisteren 3.430.788

EU stocks, real time, by Cboe Europe Ltd.; Other, Euronext & US stocks by NYSE & Cboe BZX Exchange, 15 min. delayed
#/^ Index indications calculated real time, zie disclaimer, streaming powered by: Infront