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voda 17 november 2022 07:28

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Stainless Steel Services Secures Lending Facility from Cynergy

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

Business Manchester reported that one of the UK’s largest independent distributors and processors of stainless steel, Stainless Steel Services Limited, has secured an invoice discounting facility from Cynergy Business Finance to help manage a flexible cashflow. Part of Cynergy Bank, CBF provides finance solutions between GBP 200,000 and GBP 20 million to businesses across the country against business assets such as receivables, plant and machinery, inventory, and property. It also offers cash flow loans and provides complementary export funding. The fully comprehensive processing facility allows SSS to offer a one stop shop for its customer’s stainless steel requirements.

After experiencing an exceptional rise in business sales, as well as the increasing cost of raw materials, SSS sought external financial support. CBF were able to offer SSS a bespoke invoice discounting package, including a facility that was double the size of which it had previously received. This enabled SSS to ensure adequate growth opportunities were available despite challenging economic conditions.

Founded in 1987, SSS is a Stainless Steel Service Centre based on the border between Birmingham and West Bromwich. SSS is part of the Irestal Group, which is based in Barcelona with 21 divisions across five countries.

voda 17 november 2022 07:29

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IMO Recognizes POSCO's High Manganese Steel as Cryogenic

Strategic Research Institute
Published on :
17 Nov, 2022, 5:12 am

AJU Daily reported that high manganese steel developed by South Korea's steelmaker POSCO has been recognized by a UN maritime safety agency as a cryogenic cargo and fuel tank material for ships. The state-run Korea Institute of Machinery and Materials has teamed up with POSCO and other private companies to develop a liquid hydrogen storage tank using high manganese steel, which is easier to weld and has lower manufacturing costs than stainless steel. The liquefaction of hydrogen requires cooling to a temperature of minus 253 degrees Celsius and subsequent storage in cryogenic containers. POSCO's high manganese steel is cost-effective and showed superiority over existing cryogenic materials in terms of elongation and ultimate tensile strength.

The International Maritime Organization stipulates that cargo windows and fuel tanks of ships that transport cryogenic cargo such as liquefied natural gas or use cryogenic fuels should be built with materials with certain standards. Until now, only four materials, including nickel steel, austenitic stainless steel, aluminum alloy and austenite alloy have been listed as cryogenic cargo and fuel materials. The international standardization of POSCO's high manganese steel is the first case where independently developed ship material technology has been recognized as an international standard, paving the way for the wider use of high manganese steel, according to the Ministry of Oceans and Fisheries.

Daewoo Shipbuilding & Marine Engineering, a major shipbuilder in South Korea, delivered two super-large crude oil carriers installed with high manganese steel LNG storage tanks to its client in September. In October 2022, an LNG fuel tank made of high manganese steel was installed on a giant container carrier under construction at DSME's shipyard.

LNG storage tanks are designed to prevent vaporization by blocking heat transfer and stop the hull from being damaged by exposure to cryogenic temperatures. High manganese steel is seen as an alternative material for cryogenic services because it has higher strength and wear resistance as well as better performances at extremely low temperatures.

voda 17 november 2022 07:30

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Stelco Posts 74% YoY Dip in Net Income in Jul-Sep’22 Quarter

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

Hamilton Ontario based leading Canadian steelmaker Stelco has reported 74% YoY shrinkage in net income for July-September 2022 quarter. Stelco’s Executive Chairman & Chief Executive Officer Mr Alan Kestenbaum said “Despite market headwinds driven by cost inflation and a further deterioration in steel pricing trends, Stelco was able to increase our volume of shipments over the previous quarter and take full advantage of our low-cost structural advantage to again report strong Adjusted EBITDA.”

Jul-Sep 2022 Quarter

Revenue – CAD 846 Million, down 38% YoY

Operating income – CAD 217 Million, down 72% YoY

Net income – CAD 158 Million, down 74% YoY

Average Selling Price per NT – CAD 1,162, down 36% YoY

Adjusted EBITDA – CAD 245 Million, down 69% YoY

Adjusted EBITDA per nt - CAD 357 per tonne, down 68% YoY

Shipping Volume – 686 KNT, down 3% YoY

Hot-rolled – 502 KNT, down 7% YoY

Coated – 115 KNT, down 7% YoY

Cold-rolled – 20 KNT, up 82% YoY

Others – 49 KNT, up 44% YoY

Stelco produces flat-rolled value-added steels, including premium-quality coated, cold-rolled and hot-rolled steel products, as well as pig iron and metallurgical coke.

voda 17 november 2022 07:30

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KIP Manages Krakatau Steel Exports to Malaysia

Strategic Research Institute
Published on :
17 Nov, 2022, 5:17 am

Indonesia logistics leader Krakatau International Port Group continues to support and play a role in exporting Indonesia made steel produced by the oldest and leading steel company in Indonesia, namely Krakatau Steel. PT Krakatau Jasa Logistik has released the first shipment for the export of PT Krakatau Steel (Persero) steel products to Malaysia at the Krakatau Bandar Samudera Pier of Krakatau International Port in Cilegon in Banten in Indonesia. This is momentum for KJL’s export shipments to introduce to the business world as a leading integrated logistics service company.

PT Krakatau Bandar Samudera’s Director of Operations Mr Cahyo Antarikso said that “He is proud of all the cooperation of the KIP Group team so that they could continue to improve their performance and prove that the awards they have received are worthy of acceptance by KIP. We hope to continue to improve this performance and currently Krakatau Steel has entrusted its steel export services to KJL. This is the first time KS has used KJL’s export services to Malaysia and has already been exported to Malaysia.”

PT Krakatau Jasa Logistik is a subsidiary of PT Krakatau Bandar Samudera or often known as Krakatau International Port Group.

voda 17 november 2022 07:32

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Northwest Pipe Supporting Red River Valley Water Supply Project

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

Northwest Pipe Company is supporting Red River Valley Water Supply Project as the single source of fabricated fittings and trenchless Permalok pipe for the intake structure, plus an additional 1.2-mile stretch of engineered steel pressure pipe for the water transmission pipeline in the initial phase of construction. The Red River Valley Water Supply Project is a groundbreaking drought mitigation program designed to supply emergency and supplemental water from the Missouri River through a 167-mile pipeline to communities in central and eastern North Dakota.

Located approximately 20 feet off the bank of the Missouri River near the town of Washburn, North Dakota, the intake structure is comprised of a single 72-inch diameter steel pipe segment assembled on-site utilizing multiple custom fittings with a Permalok T-7 end connection. These fittings include a riser, elbow, and wye, four flanged pipe spools, and two blind flanges. The intake structure is tied to a 1,567 LF drive of 72-inch AWWA C200 trenchless steel pipe with Permalok T-7 joints. All fittings and trenchless pipe include polyurethane coating and lining applied to AWWA C222 standards. Pipe cylinders and end connections were manufactured at our Permalok plant in St Louis in Missouri. Secondary manufacturing processes including hydrostatic testing, the application of coatings and linings, and fabrication of the structures and custom fittings were completed at our engineered steel facility in Parkersburg in West Virginia.

Project contractor Michels selected microtunneling as the safest and most efficient installation method to connect the offshore intake structure to the pump station just over a quarter mile inland. Utilizing a remotely operated Herrenkenecht AVN1500 microtunnel boring machine (mTBM), this pipe jacking technique ensured efficient excavation without requiring crews inside the tunnel. Additionally, the selection of Permalok pipe with T-7 joints allowed the system to be installed in a single pass. Incorporating two rubber O-ring gaskets into its precision-machined interface, the T-7 joint design facilitates rapid stabbing and alignment, resulting in a flush end to end connection.

Microtunneling launched from a drive shaft 65 feet deep and 42 feet wide. Soil conditions were optimal for tunnel boring, consisting of soft, fine grain sands handily removed via the spoil slurry system. Running at full capacity (three shifts per day), the Michels team efficiently installed up to 160 feet of Permalok pipe per 24-hour period, pausing only to ensure proper alignment of the mTBM laser guidance system against laser distortion, a natural phenomenon commonly caused by atmospheric and subterranean temperature variations. Despite this challenge, the contractor’s thorough attention to detail helped lead to project success.

Northwest Pipe Company has already supplied 5,950 feet of 72-inch engineered spiralweld steel pipe for the first phase of the water main construction in Foster County, North Dakota. Construction of all phases of the project is expected to be completed in 2029.

voda 17 november 2022 07:32

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Ajmal Steel Tubes to Expands Pipe Plant in Abu Dhabi

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

Leading UAE steel pipe manufacturer and exporter AJ Steel has signed an agreement with the integrated trade, logistics, and industrial hub of Abu Dhabi’s Khalifa Economic Zones Abu Dhabi’s Kezad Group for the development and operation of a large-scale steel pipe production facility in Abu Dhabi, to meet growing consumer demand. Under the agreement, AJ Steel will expand its current operations in Kezad through the development of a plot covering close to 96,000 square meters, which will bring its total to 200,000 square meters of leased land under industrial use.

The signing follows the recent launch of a new production line at AJ Steel at its factory currently in operation at Kezad. It plans to enhance its production capacity from 0.5 million tonnes to 1.25 million tonnes by adding API-compliant steel pipe capacities from 1/2” to 20” sizes for oil & gas applications. Using state-of-the-art machinery and technology, AJ Steel ensures high-quality production meeting the stringent requirements of customers across the GCC, USA, Canada, the UK, Europe and Australia.

Established in 2006, Ajmal Steel Tubes & Pipes Industries has grown to become a global brand. At its facilities in Abu Dhabi, the company uses integrated process systems to provide smart and custom solutions for a diverse range of applications across Oil & Gas, Irrigation, Water Supply & Sewage, Scaffolding, Firefighting, Heavy Infrastructure, Structural Steel projects and Geo Thermal Energy.

voda 17 november 2022 07:33

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Thyssenkrupp Extends CHRO Mr Burkhard Term by 5 Years

Strategic Research Institute
Published on :
17 Nov, 2022, 5:21 am

The Supervisory Board of German steelmaker thyssenkrupp AG has extended the appointment of Chief Human Resources Officer Mr Oliver Burkhard (50) by 5 years. The former contract was limited until the end of September 2023. Mr Oliver Burkhard has been a member of the Essen-based group's Executive Board since February 2013, Labor Director of thyssenkrupp AG since April 2013 and additionally CEO of thyssenkrupp Marine Systems since May 2022.

Chairman of the Supervisory Board Professor Dr Ing Siegfried Russwurm said “Oliver Burkhard is doing an excellent job as Labor Director of thyssenkrupp AG in difficult times and is now also setting a clear course as CEO of thyssenkrupp Marine Systems. I am looking forward to continue this successful cooperation.”

voda 17 november 2022 07:34

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Danieli to Build Scrap-Recycling Plant at Metalfer Steel in Serbia

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

Serbian long-product maker Metalfer Steel Mill has selected Danieli to implement a strategic scrap-recycling project that will allow processing of 260,000 tonnes per year of proler at its minimill in Sremska Mitrovica in Serbia. The new Danieli Centro Recycling plant will consist of a heavy-duty steel belt conveyor feeding a 2,500-HP shredder powered by Danieli-patented inverter drive that guarantees the lower operational cost due to energy consumption savings up to 15%.

A downstream line featuring air and magnetic-separation will ensure a high level of scrap cleanliness with consequent removal of nonferrous material.

In order then to recover the precious nonferrous metals the plant includes a flexible inline-offline nonferrous reclamation plant that will recover high-purity zorba.

The new scrap-recycling plant is scheduled to start operation by end 2023.

Adopting a scrap-recycling process at electric steel meltshops is a tangible asset for steelmakers. In fact, in addition to becoming less dependent on the market and benefitting economically from more direct production, it allows an ideal scrap preparation which results in better operation of the EAF and consequent OpEx savings because of less energy and electrodes consumption. And less consumption means less CO2 emissions.

Furthermore, the use of well-sorted and much cleaner input material leads to lower lime consumption and consequent lower slag processing and handling. In addition, use of proler increases the charge density which may reduce the number of charged buckets, thus improving also the productivity.

This will happen at Metalfer Steel Mill thanks to the quality of the proler produced through the new investment, where the separation of all nonferrous metals will represent additional income and improve the quality of the tapped steel.

voda 17 november 2022 07:34

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CMC Completes Acquisition of Texas Metal Recycling

Strategic Research Institute
Published on :
17 Nov, 2022, 5:27 am

Irving Texas headquartered US’s leading steelmaker Commercial Metals Company has completed the acquisition of a Galveston area metals recycling facility and related assets from Kodiak Resources and Kodiak Properties.

The acquired operation annually processes approximately 55,000 tons of ferrous and non-ferrous materials, with the majority of volumes related to obsolete ferrous scrap grades consumed by CMC's long product mills. The transaction is expected to enhance the security and supply of competitively priced inputs to CMC's steelmaking operations.

Commercial Metals Company and its subsidiaries manufacture, recycle and fabricate steel and metal products and provide related materials and services through a network of facilities that includes seven electric arc furnace mini mills, two EAF micro mills, one rerolling mill, steel fabrication and processing plants, construction-related product warehouses, and metal recycling facilities in the United States and Poland.

voda 17 november 2022 07:35

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Report Exposes Extent of Faked MTCs by Japan Steel Works

Strategic Research Institute
Published on :
17 Nov, 2022, 5:29 am

Asahi reported that a final report by outside lawyers into factory faked inspection data by Japan Steel Works turned up 20 fresh cases of subpar equipment delivered to nuclear power plants. A special investigation committee that carried out the investigation found the company had faked and fabricated data on other products as well. JSW is a world giant in manufacturing cast and forged steel. The report followed revelations that the company’s Muroran factory in Muroran in Hokkaido faked inspection data on components shipped to electric power plants for nearly a quarter of a century. A total of 449 faked inspection data cases have been confirmed to date.

A whistle-blower exposed the company’s illicit activities in February this year. In May, when the company initially admitted faking inspection data, the cases only involved products related to turbines used at electrical power plants. According to the investigation and admissions by the company, the illicit activities began around 1998. When a product that failed to meet exacting standards was found during an inspection, the factory’s product department instructed the inspection department to alter the inspection results or change the measuring method.

The company’s Muroran factory is currently operated by a subsidiary firm, which was established in April 2020. The factory manufactures cast steel products and forged steel products.

voda 17 november 2022 07:35

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Cognor Orders Bar Finishing Technologies from Danieli

Strategic Research Institute
Published on :
17 Nov, 2022, 5:31 am

Polish steelmaker Cognor has ordered a Danieli Centro Maskin cand inspection line for its plant in Stalowa Wola in Poland. The new installation will consist of a fully automated, high-productivity straightening line, a deburring unit and bar handling to process diameters up to 250 mm, and with speeds up to 25 meters per minute

The high-efficiency Danieli solutions featuring advanced automation equipment and process control integrated into a user-friendly interface will allow Cognor to benefit up to 15% savings in energy consumption and full line set-up times. Q-Space One will allow real-time remote support from erection and commissioning to plant startup, to continue with after-sale activities, drastically reducing assistance intervention times.

The line is designed for future predictive maintenance through the monitoring and analysis of the data (frequencies, vibrations, temperatures etc) acquired by the sensors installed across the line, to predict the remaining lifetime of the components, and to set a preventive maintenance service.

The new line will be in operation by the end of 2023.

voda 17 november 2022 07:37

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ArcelorMittal Kryvyi Rih Coke Production Shrinks by 65%

Strategic Research Institute
Published on :
17 Nov, 2022, 5:32 am

Interfax reported that Ukraine's leading steel producer ArcelorMittal Kryvyi Rih’s coke output has dropped by 65% YoY to 786,000 tonnes in January-September 2022. The enterprise manufactured 46,000 tonnes of blast-furnace coke in September

Coke output at ArcelorMittal Krivoi Rog has increased by 15% YoY to 2.221 million tonnes in January-September 2021, including 245,000 tonnes in September of 2021.

Bijlage:

voda 17 november 2022 07:38

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COVID Outbreak at Strip Mill Costs Algoma Steel CAD 26 Million

Strategic Research Institute
Published on :
17 Nov, 2022, 5:34 am

Soo Today reported that leading Canadian steel maker Algoma Steel's direct strip production complex was hit recently by a COVID outbreak that coughed millions of dollars from the steelmaker's bottom line. Ravaged by coronavirus, the company had trouble during the past quarter finding enough staff to operate the pride and joy of local steelmaking. Algoma Steel's CEO Mr Michael Garcia told investors “Our community was not immune to the impacts of COVID. During the quarter we experienced a concentrated outbreak, which impacted the DSPC.”

He added “We're implementing various measures to address labor availability, including cross-training more employees to better handle that absenteeism event.”

The COVID outbreak was just one part of a triple whammy of production gremlins that wounded Algoma during the last quarter. The others were software problems encountered during a CAD 120 million plate mill modernization and an August fire at one of the company's two coal conveyors. Algoma's Chief Financial Officer Mr Rajat Marwah said the triumvirate of production woes cost the company a total of USD 130 million. Mr Marwah attributed about 50% (USD 65 million) of the USD 130 million drag on the plate mill commissioning problems, 30% to the coke oven fire (CAD 39 million) and 20% (CAD 26 million) to the COVID outbreak at the steel mill.

voda 17 november 2022 07:39

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Swinburne’s Victorian Hydrogen Hub’s VH2 Research for Green Steel

Strategic Research Institute
Published on :
17 Nov, 2022, 5:43 am

To help decarbonise the steel industry, Swinburne’s Victorian Hydrogen Hub VH2 is researching the application of hydrogen in steelmaking to make the industry more sustainable. VH2’s project aims to replace the existing fossil fuel-based sources with hydrogen. PhD candidate Mr Gopal Pandey is at the forefront of this work, using computational fluid dynamics modelling to study the engineering aspects using hydrogen fuel in oxygen blowing, one of the most common and efficient steel production methods.

Mr Gopal says “I'm passionate about making a better environment to live in. Climate change is real and reducing our carbon footprint is a challenge. Having my project work on reducing something that is bad for the planet is very impactful.”

PhD supervisor and Professor in the School of Engineering Mr Geoffrey Brooks says the PhD is tackling a key issue in decarbonisation using advanced mathematical tools. He said “Gopal’s project follows on from some successful work on understanding how natural gas burners behave in the extreme environment of steelmaking. Now we are re-examining the whole issue with hydrogen.”

voda 17 november 2022 07:40

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EU Opens AD Duty Probe on Flat Bars from Turkey & China

Strategic Research Institute
Published on :
17 Nov, 2022, 5:45 am

The European Commission has initiated an antidumping duty investigation against non-alloy flat steel bars from Turkey and China. The investigation will cover the period between 1 October 2021 and 30 September 2022. The examination of trends relevant for the assessment of injury will cover the period from 1 January 2019, to the end of the investigation period. The provisional measures are expected to be announced within seven months.

The products subject to antidumping duty investigation are non-alloy steel flat bars in a range up to 204 mm in width and currently fall under Customs Tariff Statistics Position Number 7216.50.91.

The complaint was made on behalf of the following Union producers: ArcelorMittal Atlantique et Lorraine France, ArcelorMittal Etxebarri Spain and ThyssenKrupp Rasselstein Germany, allegedly representing 100 % of the Union industry. In the course of the investigation, it came to the Commission’s attention the existence of an additional Union producer of ECCS, namely Acciaierie d’Italia. Since the complainants nonetheless represented 85-95% of the production and sales of the Union industry, the complaint was considered to have been made by the Union industry in accordance with Article 5(4) of the basic Regulation.

voda 17 november 2022 07:40

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Jindal Ispat Special Plant Resumes Sinter, BF & SMS Operations

Strategic Research Institute
Published on :
17 Nov, 2022, 5:46 am

JSW Steel’s JV Jindal Ispat Special Plant, formerly known as Monnet Ispat, has restarted the operations of Blast Furnace, Sinter Plant and Steel Melt Shop at the Raigarh plant and SMS operations at Raipur plants in Chhattisgarh, with effect from 14 November 2022.

Established in 1994 as Monnet Ispat & Energy Limited has a production capacity of 1.5 million tonne to produce HR plates, rebars and structure profiles to cater to the rapidly growing infrastructure & construction industry. In August 2018, Monnet Ispat & Energy was acquired jointly by a consortium of Aion Investments and JSW Steel Limited. The name of the Company has been changed to JSW Ispat Special Products Limited with effect from 23rd September 2020.

voda 17 november 2022 07:40

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SAIL Publishes 12th Sustainability Report for 2021-22

Strategic Research Institute
Published on :
17 Nov, 2022, 5:47 am

Affirming its commitment to contributing towards a clean and sustainable environment and continually enhancing its environment related performance as an integral part of its business philosophy and values, India’s leading steelmaker Steel Authority of India Limited has published Sustainability Report for 2021-22. SAIL Chairperson Mrs SomaMondal in a letter to stakeholders said I am happy to present to you all our 12th Sustainability Report for the year 2021-22 featuring our performance on various fronts viz, economic, environmental, societal and governance. This Report, prepared in accordance with the GRI Sustainability Reporting Standards, reflects our objectives and plans in making the organization more sustainable, efficient, and helps to manage change more effectively.”

Corporate Sustainability Report 2021-22

SAIL has been front runner in the field of water conservation and through consistent efforts; specific water consumption has been reduced considerably by around 14% in last five years. Actions are being taken across all SAIL Plants to achieve the long-term goal of "Zero Liquid Discharge" through adequate treatment and recycling of effluent being discharged through the outfalls at the Plant boundary.

Resource efficiency and circularity are of utmost importance for us. SAIL has associated itself as an industry partner with the Ministry of Steel, GoI in R&D project of steel slag based cost effective eco-friendly fertilizers through ICAR-Indian Agricultural Research Institute, Delhi for enhancing utilization of LD Slag.

In compliance with Stockholm convention of phasing out of poly-chlorinated biphenyl, SAIL in partnership with MoEFCC and UNIDO has initiated a project for environment friendly disposal of PCB at Bhilai Steel Plant. The project will not only help SAIL in achieving the mandated timeline of phasing out PCB but also help other nearby units to meet the international obligation.

SAIL scripted an altogether new story when the over burden dump and mine void of abandoned Purnapani Lime Stone Mine has been converted to a sprawling three storeyed vegetation grown on 250 acres and aquaculture spread over 200 acres of mine void. Further to that, SAIL has engaged the Institute of Forest Productivity, Ranchi for eco-restoration of mined out area and waste dumps separately for Kiriburu Iron Ore Mines and Meghahatuburu Iron Ore Mines. Since inception 215.42 lakh trees have been planted in SAIL. During 2021-22, more than 3.28 lakh saplings were planted.

voda 17 november 2022 07:41

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Green Steel Finance has begun in Europe - IEEFA

Strategic Research Institute
Published on :
17 Nov, 2022, 5:48 am

Institute for Energy Economics & Financial Analysis in a recent report said that the role of financiers in greening steel is at a critical juncture with the high cost of transition towards green steel initiatives beyond most steel producers’ internal resources more finance is needed to accelerate this transition. IEEFA said “Europe is leading the way as it continues to shift from announcements and pilot projects to investment and funding decisions. The first green steel production movers are now backed by banks and credit guarantors.”

In October, Swedish steel venture H2 Green Steel announced that some of the most prominent European financial institutions have decided to support the hydrogen-based steel plant construction in northern Sweden. The promised EUR 3.3 billion in senior debt from a consortium of banks clearly shows the financiers’ interests in bolstering decarbonisation initiatives in the steel sector. The project was also supported by a EUR 0.75 billion senior loan from the European Investment Bank and another EUR 0.5 billion in junior debt. Trade credit insurer Euler Hermes and the Swedish National Debt Office issued two letters of intent to provide export credit-linked guarantees of EUR 1.5 and EUR 1billion, respectively. The green steel start-up aims to finance around two-thirds of the total EUR billion needed for the new hydrogen-based steelmaking plant in Boden, Sweden, where site preparation began in July. The greenfield integrated steel mill with an annual capacity of 2.5 million tonnes is set to commence by 2025 and double its capacity by 2030.”

The H2 Green Steel announcement follows investment decisions in Germany. In October 2022, ThyssenKrupp announced a €2 billion investment in its ambitious decarbonisation plan to replace the first of four blast furnaces using hydrogen-based direct reduced iron technology.

This followed board approval for Saltzgitter’s shift from blast furnaces to low-carbon direct reduced iron processes in July 2022. Both the Saltzgitter and ThyssenKrupp projects are subject to public funding.

Some of the banks involved in the H2 Green Steel financing were also among six banks that launched a climate-aligned, steel sector finance agreement in September 2022. The Sustainable STEEL Principles is a new framework for banks to work with steel producers towards alignment with climate targets. This framework enables banks to set meaningful emissions reduction targets and assess and disclose emissions of their steel-related loans. The framework was developed by RMI in collaboration with six leading bank lenders to the steel sector comprising Citi, Crédit Agricole CIB, ING, Societe Generale, Standard Chartered and UniCredit. These banks represent USD 23 billion of committed lending to the steel sector.

All of these announcements come during the unprecedented global energy crisis. While some of the largest steelmakers in Europe are struggling with expensive fossil fuels to keep their operations up and running, financing green steel projects signals real strides in the transition to sustainable resources and fossil-free steel.

voda 17 november 2022 08:11

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Meer jaaromzet voor Thyssenkrupp

Orderinname stijgt meer dan 10 procent.

(ABM FN-Dow Jones) Thyssenkrupp heeft over het gebroken boekjaar 2021/2022 meer omzet geboekt en de orderinstroom met ruim 10 procent zien oplopen. Dit maakte het Duitse industriële conglomeraat donderdagochtend bekend met de vrijgave van cijfers.

De omzet kwam over het boekjaar, dat eindigde op eind september, uit op 41,1 miljard euro, een stijging met 21 procent. De orderinstroom liep met 12 procent op naar 44,3 miljard euro.

Het aangepaste bedrijfsresultaat (EBIT) steeg van 796 miljoen euro over het boekjaar 2020/2021 naar 2,1 miljard euro in het afgelopen boekjaar.

De vrije kasstroom bleef negatief op 476 miljoen euro.

Dividend

De onderneming deed een dividendvoorstel van 0,15 euro per aandeel Thyssenkrupp.

Outlook

Het aangepaste EBIT-resultaat zal het komende boekjaar naar verwachting uitkomen binnen een bandbreedte van 500 tot 1 miljard euro. Dit was afgelopen jaar nog 2,1 miljard euro.

Het nettoresultaat zal voor het lopende boekjaar 2022/2023 ten minste break even zijn. Dit geldt ook voor de vrije kasstroom.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

voda 17 november 2022 08:12

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Mexico’s 2023 consumption to rise amid uncertainty: Canacero
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The Mexican steel sector is seen improving its main indicators on-year in 2023, according to national steel association Canacero.

Apparent steel consumption (ASC) should rise 2-3% y-o-y from 25 million tonnes in 2022. Meanwhile, annual crude steel production and demand in 2023 will depend mostly on the global economic and political environment, the association says.

“We consider the 2023 outlook for the steel sector quite complicated due to various political issues in the world, which can have a significant impact on our country,” Canacero president David Gutiérrez Muguerza said during the association’s annual meeting held on Tuesday in Monterrey.

“In volume, if we consider imports and that we can compensate some [imports] with national production, we think that we could come out ahead, but in price, because the steel industry is ruled by international prices, we see that there could be an impact with everything that is happening," he added.

Steel output in 2022 should reach 19mt, which will be slightly down compared to the pre-Covid level of 20.2mt in 2018, Kallanish notes.

Meanwhile, Mexico is expected to end this year with almost 5.1mt of finished steel exports, 24% more y-o-y, while imports should be in line with the 2021 level of 11.7mt.

Muguerza is optimistic the Mexican steel industry can reduce its 6.6mt trade deficit in the short term.

"We believe the recent investments in Mexico, such as Ternium and ArcelorMittal’s new hot rolling mills, which are focused on being self-sufficient, will help us to substitute imports and thereby strengthen the domestic market, where we see great potential for consumption continuing to grow,” observed Muguerza.

Mexican industry could also take advantage of nearshoring and improve exports to the North American market.

“We have always been a strategic partner of the US. Mexico does not displace the American industry; on the contrary, we integrate and complement it. As a productive sector, we must continue promoting the development of regional value chains, which allow us to create the conditions to continue strengthening North America as the world's most competitive area," the Canacero president concluded.

Todor Kirkov Bulgaria

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