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voda 16 februari 2017 17:08

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ArcelorMittal Eisenhüttenstadt orders Eco Slide Discs from Primetals Technologies
Primetals Technologies has received an order from ArcelorMittal Eisenhuttenstadt, a German steel producer, to install Eco Slide Disc side guides on the entry side beams of a coiler in a hot-strip mill.

Source : Strategic Research Institute

voda 16 februari 2017 17:09

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Slovakian cabinet members meet with US Steel Košice representatives

The Spectator reported that Economy Minister Peter Ziga, Deputy PM for Investments and Informatisation Peter Pellegrini and Finance Minister Peter Kazimir (all Smer) met with representatives of US Steel Kosice on February 13. The talks were rooted in the so-called joint memorandum, which obliges both parties to inform each other about new developments concerning the company.

Mr Ziga wrote on his Facebook profile that “On behalf of the government, I can confirm that the pledge still holds that the cabinet will be party to negotiations on the sale of the steelmaker. We’ll protect the strategic interests of Slovakia and the Kosice Region and insist that employment and steel production must be preserved in Kosice regardless of who the future owner will be.”

Several media outlets have meanwhile reported that the American owners of US Steel inked a memorandum of understanding in Pittsburgh with the Chinese He Steel Group on January 26, 2017.

Czech-based company Moravia Steel, behind which stand Slovak millionaires headed by Tomas Chrenek, was among the bidders, but the favourite hopeful was He Steel with its offer of EUR 1.4 billion.

Source : The Spectator

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voda 16 februari 2017 17:10

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Tata Steel unveils UK’s biggest and fastest robotic welding line

Tata Steel has unveiled a new high-tech robotic welding line at its Automotive Service Centre in Wednesfield, West Midlands – the largest in the UK.

Source : Strategic Research Institute

voda 16 februari 2017 17:11

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Tata Steel UK workers to accept cuts to pensions in return for commitments on jobs

Daily Mail reported that workers from the Community, Unite and GMB unions overwhelmingly backed proposals under which the heavily indebted British Steel pension scheme will close to future accrual. Under the plan, Tata will invest GBP 1 billion in its steel sites across the UK while workers move to a less generous pension scheme. However, Tata has said the investment also depends on it separating the pension scheme and its GBP 1-2 billion deficit from the rest of the business.

The agreement follows huge uncertainty for workers after Tata Steel announced last March it was reviewing its UK businesses as it battled global oversupply of steel and weak demand.

The Indian-owned company has 11,000 staff in the UK at sites including Port Talbot, Rotherham and Hartlepool.

Tony Brady, national officer for Unite, said the past year’s uncertainty had been ‘hellish’. He added: ‘[Workers’] sacrifices must be repaid by Tata Steel honouring its commitments on investment and job security.’

Source : Daily Mail

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voda 16 februari 2017 17:12

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SAIL supplies steel for ISRO’s 104 satellites

Steel Authority of India Ltd has once again become true force in transforming the nation by supplying steel to ISRO for the launch of a record 104 satellites in a single rocket on 15th Feb’17.

Source : Strategic Research Institute

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voda 16 februari 2017 17:12

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Steel rebound hope fading as China property market slows

Business Standard reported that steelmakers aren’t out of the woods yet. A year-long resurgence risks fading as a slowdown in China’s property market deepens, exposing bullish sentiment as overblown, according to a US-based hedge fund manager and former Citigroup analyst.

Mr Ivan Szpakowski, chief investment officer at Academia Capital LLC, said in a phone interview from North Carolina last week that “China’s real estate sector is the biggest X-factor for the steel market globally this year. We’ve clearly turned the corner into a downward phase of the property cycle, and I do think there is a real risk for steel that we go back toward where we were a year ago.”

Steel and iron ore surged in 2016 after a poor start as China’s “old economy” roared back with the help of government stimulus and a credit boom. At the heart of the rebound was a pick-up in construction that helped steel demand expand about two per cent last year, versus expectations of a five to six per cent decline, according to Szpakowski. Construction accounts for the biggest part of steel demand in the top consumer, according to Bloomberg Intelligence.

China’s home prices have shown signs of slowing as local governments and banks follow Beijing’s orders to tighten the market and rein in asset bubbles. At the same time, stockpiles have expanded at an “unprecedented” pace since the start of this year, Szpakowski noted. Iron ore inventory at China’s ports rose to a record 127 million metric tonnes last week, according to Shanghai Steelhome Information Technology, while stockpiles of reinforcement bar used in construction surged to 8.2 million tonnes, the highest since April 2014.

Mr Szpakowski who previously worked in Shanghai, Hong Kong and Singapore as a commodities analyst for Citigroup and Credit Suisse Group SA said that “We’re much more leveraged now than we’ve been in two years, in terms of inventory throughout the whole supply chain, whether it’s traders or steel mills, or whether it’s iron ore or steel.”

He said that China’s steel market has gotten “too optimistic” on demand and the potential benefit of capacity cuts, including the clampdown on some scrap-based mills this year.

Source : Business Standard

voda 16 februari 2017 17:15

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Court recovers 140 mln tenge in favour of the Dutch company
Published on Thu, 16 Feb 2017

KazTAG reported that by the decision of specialized inter-district economic court of Karaganda region, the claim of the Dutch company Green Walls B.V. to JSC Mittal Steel Temirtau has been partially satisfied, approximately 140 million tenge have been surcharged from the company, the agency reports.

The court said that "The specialized inter-district economic court of Karaganda region dated February 7, 2017 satisfied the claim partially. More than 134.9 million tenge debt has been surcharged from AMT in favor of Green Walks, and the penalty in the amount of 29 000 tenge, the company has been obliged to pay off the state fee in the amount of 4,049,643 tenge. The satisfaction of the rest of the claim has been denied.”

Green Walls BV had filed a lawsuit against the JSC Mittal Steel Temirtau to recover the debt in the amount of over 134,9 million tenge , the legal penalty in the amount of 3 million tenge, state tax in the amount of a 4 million tenge and payment for assistance in the amount of 250 000 tenge.

Green Walls (established in accordance with the laws of the Netherlands) and ArcelorMittal Temirtau had signed a contract on purchase and sale of 75% share in the fixed capital of LLP Temirtau Associates And Ancillaries (TAA), where the AMT bought 75% of the share capital of the TAA and acquired all the rights and obligations of the company.

Source : Kaztag

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voda 16 februari 2017 17:19

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Industry players upbeat on Iranian steel prospects

Throughout history, the path to industrial development has been paved by steel industry. It has built up invaluable infrastructures, spearheaded technological development and spurred economic growth. For Iran, the steel industry is set to play an even more important role. After years of crippling sanctions, the country wants to get its industries back on track and streamline economic growth. This is while low oil prices have failed to boost revenues and drive the economy. The most potential alternative is the development of the mining sector, especially the steel industry.

The Seventh Iranian Steel Market Conference, hosted by Donya-e-Eqtesad media group, opened in Tehran on Tuesday with exactly this aim in mind. It brought together a host of steel industry officials, local and foreign players and market analysts to follow up on last year’s post-sanctions excitement and clear the industry’s path to growth.

The industry is currently grappling with various challenges on both foreign and local fronts.

The Chinese steel armada is still strong and threatening global markets. While demand is growing slowly, the rise of protectionist trade policies is hurting the prospects of exporters.

In Iran, the government is doing its best to reach the 55-million-ton steel production capacity goal envisioned in its 20-Year Vision Plan (2005-25).

The goal’s achievability, however, is challenged by the downstream sectors' unbalanced supply of raw materials and the underdeveloped transportation infrastructure needed for boosting exports. Both require billions of investments, the procurement of which has proven to be the main bottleneck in post-sanctions Iran.

Iranian speakers at the conference included the head of Iranian Mines and Mining Industries Development and Renovation Organization, Mehdi Karbasian; Minister of Industries, Mining and Trade Mohammad Reza Nematzadeh; former parliament speaker, Ali Akbar Nateq-Nouri; the head of Islamic Republic of Iran Railways Company, Saeed Mohammadzadeh; and the head of Iran Mercantile Exchange, Hamed Soltani-Nejad

Managing director of Spain’s Sarralle group Javier Esquiroz; CEO of Italy’s Danieli Group Gianpietro Benedetti; the head of Germany’s SMS Group, Burkhard Dahmen; CEO of Austria’s INTECO, Harald Holzgruber; and Turkish Steel Exporters Association’s market analyst, Cihan Akedniz, were among the notable foreign participants.

Mr Karbasian who is also deputy minister of industries, mining and trade said that “The Iranian steel industry is now in its fifth decade. Ever since we started, the lack of balance [between raw material supply and steel production] was a concern for industrialists. The issue has now partly been resolved as a result of boosting mineral exploration and establishing a string of upstream plants.”

According to Nematzadeh, over the past four years, the industry’s pellet production capacity has grown 66% to 35 million tonnes, DRI capacity has risen 42% to 27 million tonnes and crude steel capacity is up 29% to 31 million tonnes.

However, completely resolving the issue of raw material scarcity and realizing the 2025 steel expansion goals require close to $30 billion of investment, the attraction of which has been one the main goals pursued by industry players in post-sanctions Iran.

Mr Karbasian appeared confident that despite the challenges, the outlook is bright for growth in the steel industry. He said that “Annual demand for steel in the Middle East and North Africa region is 71 million tons, while member countries only produce 36 million tons. Considering the potential of Iranian mines, the country’s gas reserves and its steelmaking capacity, we believe investing in Iran is going to be lucrative for [both local and foreign] investors.”

Mr Karbasian noted that low gas prices and abundance of DRI means Iran has a competitive edge compared to other producers who use coal, the price of which has more than doubled in the last two years.

Steel prices are also set to rise on the global scale. China has been forced to cut down its production capacity due to environmental issues. This is expected to reduce global supply and positively impact the markets and consequently Iranian exports.

Iranian steelmakers exported more than 4.4 million tons of crude steel and steel products during the 10 months to January 19, registering a 45% growth compared with last year’s corresponding period.

Source : Financial Tribune

voda 16 februari 2017 17:24

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Kazakhstan iron ore production increased by 32.1% in January

KazTAG reported that iron ore production amounted to 3.022 million tonnes in January 2017, 32.1% up year on year.

According to Kazakhstan statistics agency of the Ministry of National Economy, the production volume amounted to :copper ore- 7.182 million tonnes (+26%), gold containing ore- 1.434 million tonnes (-17.5%), chrome concentrate- 356.6 thousand tonnes (+22.9%).

Source : Kaztag

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voda 16 februari 2017 17:25

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Mt Gibson bullish after posting $23m first half profit

The West reported that Mt Gibson Iron has jumped back into the black, posting a first-half profit of $22.9 million on the back of surging iron ore prices. The result contrasts with a $15.4 million loss in the previous corresponding period. The result was achieved on revenue of $102 million, down from $124 million in the previous corresponding period.

The reason for the lower revenue was a fall in product sales from 2.6 million wet metric tonnes in the first-half of 2016 financial year to 1.8 million wet metric tonnes in the recent half ending December 31.

The iron ore miner boosted its sizeable cash pile by $47 million over the half year to $447 million. It also was able to reduce slightly its all-in cash costs from $49 per wet metric tonnes to $48 per wet metric tonnes.

Chief executive Mr Jim Beyer said the team had delivered an excellent operational and financial result during a period of continued (iron ore) price volatility and significant operational transition. He said that “This performance has seen us generate strong cashflows during the first six months of the financial year. It also puts the company in a strong position heading into the second half of the financial year where we are well placed to capitalise on the iron ore price as we see a short timeline for commencement of initial ore sales from the Iron Hill deposit.”

Mt Gibson lifted its full-year sales guidance to 3.2–3.5 million wet metric tonnes at reduced all-in group cash cost of $47-$51 per wet metric tonne free-on-board.

Mr Beyer said that “Mount Gibson has strong prospects ahead of it with development now underway at Iron Hill, the outcome of our advanced evaluation of the potential to restart Koolan Island anticipated in the coming weeks, and the financial capacity to act on additional value-creation opportunities that may emerge.”

Source : The West

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voda 16 februari 2017 17:26

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Second attempt at seabed iron sands mining permit kicks off

Trans Tasman Resource will try again in hearings starting this week to get permission to mine iron sands from the ocean floor in New Zealand's Exclusive Economic Zone.

The hearings, which start in Wellington tomorrow and are scheduled to finish on March 20, mark the New Zealand company's second attempt to obtain consents after a decision-making committee (DMC) appointed by the EPA ruled in 2014 that the environmental impacts of the proposal were too difficult to gauge on the evidence available.

The company which has spent around $65 million seeking permission to mine titano-magnetite iron sands on the seafloor off the coast of Whanganui. It chose not to appeal the original DMC decision, preferring to mount a fresh, second bid with additional evidence in front of an entirely new panel.

Phil McCabe, chairman of community-based action group Kiwis Against Seabed Mining opposing the initiative, said his organisation takes issue with seabed mining because "there's guaranteed environmental destruction or degradation." He said the area includes sensitive habitats that are important to marine mammals as well as thriving reefs.

The proposed mining area is outside the 12-mile nautical limit in an area that migratory species move through, and a large undersea desert of iron sands in which there are strong current and limited marine life. Much of the original DMC's rejection of the bid related to the unknowable environmental impacts on the area, given limited research beyond TTR's.

In the initial hearing, much of the DMC's concern related to the way surplus sand that didn't contain iron ore would be returned to the ocean floor. In particular, there were issues about how plumes of sand returning to seafloor would act in the often turbulent waters.

TTR was not immediately available for comment but according to its website, scientific studies show the proposed operations will have no more than a minimal impact on marine mammals present in the area.
KASM's Mr McCabe said the case will be precedent-setting as a unique project globally although he noted there is significant investment and momentum aimed at mining the ocean's floors.

He said there is much more public opposition to the project this time around, with more than twice as many people attending KASM meetings ahead of the hearings and more than three times the number of submissions as well as involvement from a wider range of institutions.

Massive investment
So far TTR has invested more than $65 million to define the resource potential and assess the impact of the South Taranaki Bight iron sands project. McCabe estimates the project would require $1 billion to get it up and running.

TTR says it has invested in further research into the environmental impacts of scooping up some 50 million tonnes of iron sands annually from a relatively barren expanse of seabed some 22 to 36 kilometres off the west coast of the lower North Island in waters between 20 and 42 metres deep.

Sand is extracted via a seabed crawler which pumps it aboard a processing vessel where the iron ore is separated magnetically from the sand.

The project aims to export up to five million tonnes of iron ore concentrate annually for up to 35 years, targeting Asian steel mills capable of processing titano-magnetite, a less used alternative and additive to iron ore in steel making.

The remaining de-ored sediment (around 45 million tonnes per year) would be returned to the seabed in the same area from which it was extracted.

The new application contains fresh scientific and other evidence, which TTR said has addressed the concerns raised by the DMC and to "address the perceived gaps in the submission."

The hearing will run from February 16 to February 24 in Wellington and then from March 6 to March 9 in New Plymouth, followed by final hearings in Wellington, scheduled to conclude on March 20.

Different parties will present evidence for and against the project. The hearing does not allow for cross-examination, although questions have been submitted in advance and can be submitted throughout the process.

Groups that will testify against the project include Greenpeace, several fishing companies including the New Zealand Federation of Commercial Fishermen, Talleys Group, Southern Inshore Fisheries Management Company and the Cloudy Bay Clams Group of companies, including Cloudy Bay Holdings and Ant Piper.

The Royal Forest and Bird Protection Society of NZ is also opposed, as is Origin Energy Resources Kupe NZ. The Ministry for Business, Innovation and Employment will speak in favour of the project, with conditions, as will NZX-listed fishing group Sanford.

Earlier this week the three iwi in Taranaki most affected by the proposal continued to raise concerns about the EPA processes and whether the organisation has sufficient resources assigned to properly assess the application.

Source : BusinessDesk

voda 16 februari 2017 17:28

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Rio Tinto CEO spruiks value over volume

The Australian reported that Rio Tinto chief Jean-Sebastien Jacques will not put more iron ore on to the market to get the lowest costs out of expanded West Australian infrastructure if it puts pressure on prices, despite the miner’s delayed driverless ore train project now making strides.

Speaking last week with iron ore prices already at their highest levels in two years, Mr Jacques told The Australian the company’s delayed driverless train program was running “very well” and ready to help boost production over the next couple of years.

But he said the company would not be in a rush to push the WA infrastructure that Rio spent USD 16 billion expanding in the past decade to match its new port capacity of 360 million tonnes of capacity. He said that “We are about value over volume. We are pushing productivity, then we look at what the impact on the price (of expansion) will be and we will work out what we can do. We are not in a rush.”

Iron ore prices jumped 5.5 per cent to USD 91.80 per tonne, the highest since August 2014.

The price of Australia’s biggest export has been bolstered by Chinese preliminary trade statistics, which show iron ore imports rose 12 per cent in January from a year earlier, and by increased talk that China will close down inefficient steel mills to reduce pollution.

Removing inefficient production is expected to spur productivity drives at other mills, closer to the coast, meaning better-quality imports will be in demand. Mr Jacques said that “The Chinese government is pushing hard to restructure the high-polluting blast furnaces, and therefore reduce capacity. This would remove the low-productivity, highly polluting blast furnaces and drive the productivity of the (remaining) blast furnaces, which could represent an opportunity for us because we could see a switch ... to higher-grade iron ore.”

There is also talk of increased spending on infrastructure in the Asian steel demand powerhouse.

Credit Suisse analyst Paul McTaggart said, citing increased spends of 10-50 per cent this year in Jiangsu, Shandong and Xinjiang provinces said that “After the Chinese New Year, many Chinese provincial governments announced their infrastructure spending plans for 2017. Some of the pick-up in infrastructure spend is because the provinces underspent more recently — and they are intending to catch-up to their targets made in recent five-year plans.”

Source : The Australian

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voda 16 februari 2017 20:23

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Japanese steel orders rise on domestic recovery

Japanese steel mills reported total orders up in December. This happened as domestic orders were strong compared to a year earlier despite a slight dip from November, according to data published by the Japan Iron and Steel Federation (Jisf). Export orders meanwhile recovered from November but remained down year-on-year, Kallanish notes.

December’s grand total for orders was up 3.1% month-on-month and 4.8% y-o-y in December to 6.16 million tonnes, Jisf reports. Domestic orders at reporting companies were actually down -1.2% from November at 3.87mt, but were still up 9.5% y-o-y. Export orders meanwhile were down -3% y-o-y but up 10.9% y-o-y.

Japanese steel orders in the current quarter could struggle as end users resist price hikes by Japanese mills, and a fire at Nippon Steel and Sumitomo Metal Corporation’s Oita plant reduces output. Japanese mills have little choice but to hike prices however to compensate for the increase in their quarterly contract prices for iron ore and coking coal.

Over the first three quarters of the financial year ending March 2017, the grand total was up 1.7% y-o-y at 52.98mt. Domestic orders rose by 3% to 32.85mt and export orders fell by -0.7% to 19.47mt. Improving demand over the last quarter of the year from both construction and manufacturing helped boost orders however. The construction sector saw orders over April-December increase 3.6% to 8.58mt, while manufacturing orders were up 2.1% to 14.37mt. While construction orders were strong y-o-y in December, they fell sharply by -8.5% from November to 988,000t, Jisf notes.

Source: Kallanish.com

voda 17 februari 2017 14:18

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'Impasse in gesprekken ArcelorMittal en SAIL'

Gepubliceerd op 17 feb 2017 om 12:12 | Views: 1.833

LONDEN (AFN) - De onderhandelingen over de voorgenomen joint venture van ArcelorMittal en de Steel Authority of India Limited (SAIL) zijn naar verluidt in een impasse beland. Volgens bronnen van persbureau Reuters zouden de partijen het op een aantal belangrijke punten met elkaar oneens zijn.

ArcelorMittal en SAIL meldden eerder samen een staalfabriek te willen bouwen in India. Die zou de automotive-sector moeten gaan bedienen. Bij SAIL zou nu echter angst bestaan dat de geplande gezamenlijke activiteiten verlieslatend worden.
ArcelorMittal wilde niet op het bericht reageren. Volgens een woordvoerder van SAIL zijn de onderhandelingen nog steeds gaande.

voda 17 februari 2017 14:53

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Tata Steel pensions deal is lesser of two evils - Union leaders

South Wales Evening Post reported that steelworkers in Port Talbot voted overwhelmingly to back a pension deal to safeguard their jobs but did so with a "heavy heart", according to union leaders. Union bosses compared it to moving from a "gold plated pension" to a "silver plated pension".

Steelworker Gary Keogh, vice chairman of the Port Talbot multi unions, said it was a difficult sacrifice to make by opting for the pension deal. He said that "We have gone from the gold plated pension to the silver plated pension. The Tata company need to realise what sacrifice has been made. The deal was voted by more than 70 per cent. It's been very difficult to accept I understand they voted for the future with a heavy heart. It's extremely difficult. It's a major employer in this area and it's the heartbeat of this town. We have made many many sacrifices, I feel we cannot make any more."

He added that "People have cast their vote and given their opinion in a democratic way - it's a major sacrifice. Tata must follow through their commitment. The three unions had recommended that members at the plants accepted the deal, including the 6,300 Tata workers in Wales.”

Members at sites in Wales, Scotland, South Yorkshire and Teesside all backed the move.Figures showed 72.1% of members of the Community Union voted yes compared to 27.9%t who voted no the turnout was 70.5%. Unite members voted 75.6% in favour of the deal, with 24.3% voting no, with the turnout 69.2%. Meanwhile, GMB members voted 70.4% for the yes vote compared to 26.0%, with the turnout 51.5%.

As part of the deal the plant at Port Talbot will have a GBP 1 billion cash injection, no compulsory job losses and a guarantee from Tata that the blast furnaces will continue to operate for at least five years.

Source : South Wales Evening Post

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voda 17 februari 2017 14:54

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Iran aims for annual steel exports of 20-25 million tonnes by 2025

Reuters reported that Iran aims to export 20 to 25 million tonnes of steel annually by 2025, up from a previous goal of 10 million tonnes. The Iranian Mines and Mining Industries Development and Renovation Organisation in the statement published on its website, quoted a member of the Expediency Discernment Council a body that mediates between Iran's parliament and the Guardian Council as saying Iran foresaw exports of 20-25 million tonnes of steel by 2025.

That compares with an export goal of 10 million tonnes outlined by Tehran before the nuclear deal. An overall target of 55 million tonnes per year for total Iranian steel production was unchanged in Wednesday's statement, which followed a two-day steel conference in Tehran.

The global steel market is around 1.6 billion tonnes and analysts say there is little need for more capacity given global oversupply for the foreseeable future.

Iran said that its current production is around 1 percent of the world total or 16 million tonnes.

Source : Reuters

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voda 17 februari 2017 14:58

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Voestalpine establishes Trump-monitoring taskforce

Reuters reported that Austrian steelmaker Voestalpine has set up a "Taskforce USA" to monitor the effects of President Donald Trump's decisions on its business, which includes a new USD 1 billion sponge-iron plant in Texas.

The team consists of eight members representing the company's four divisions, equally split between Austria and the United States, and includes legal, treasury and international trade experts.

CEO Mr Wolfgang Eder said “Developments for the next six, 12 or 24 months are very hard to estimate. The team members, who are still doing their regular jobs, hold phone conferences and give concise briefings to management.”

Mr Eder said about a third of Voestalpine's production in Mexico, much of which is for international carmakers' plants there, is destined for the United States.

The plant in Corpus Christi, Texas, is the largest investment in the United States by an Austrian company. Voestalpine picked the United States mainly for its access to cheap energy.

Voestalpine generated annual revenue of about 1.2 billion euros ($1.3 billion) in the NAFTA free trade area of the United States, Mexico and Canada in its 2015/16 business year and aims to reach 3 billion euros by 2020. North America currently accounts for around 11 percent of total sales.

Trump has said he wants to renegotiate NAFTA and has proposed a border tax on imports from Mexico, aiming to attract manufacturing jobs from there to the United States.

Source : Reuters

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voda 17 februari 2017 14:59

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Steel units in Odisha resent high pricing of OMC's iron ore

Business Standard reported that steel and other end-use industries in Odisha have taken exception to the stubbornly high pricing of iron ore for the long-term linkage customers. Pointing to the faulty method of price discovery, the state-based units have sought relief from the steep prices in the form of concession in pricing.

Industries sourcing iron ore via e-auctions organised by the state-controlled Odisha Mining Corporation (OMC) have complained that the price determination for long-term linkage customers is based on the discovered price through e-auctions by OMC. They have alleged that the discovered price at auctions is unsustainably high and it needs to be eased.

At the latest round of e-auctions conducted by OMC on February 3, prices of iron ore lumps were in the band of Rs 2,000-2,200 per tonne. Iron ore fines prices varied from Rs 1,400-1,600 a tonne. Steel makers like Jindal Steel & Power Ltd and Visa Steel are among the key buyers of iron ore from OMC. Even Tata Steel has participated at a few OMC auctions to feed the increasing requirement of its Kalinga Nagar steel plant. It is also contemplating procuring iron ore from OMC through long-term linkage.

Mr Purushottam Kandoi, president of All Odisha Steel Federation, said, "The state government is dragging its feet on the issue. Despite several rounds of meetings, no decision has been taken yet to arrive at the right method of price discovery at OMC’s e-auctions. The price is determined based on Indian Bureau of Mines' (IBM's) price, which is faulty and unrealistic. As a result, the end-user industries are suffering. Iron ore prices should be determined at auctions on the basis of demand and supply."

He said that the state-based steel units, especially the ones lacking captive mines, sorely need a concession in pricing to stay competitive.

Uneconomical transport operations in the state are also contributing to the escalating iron ore prices. To add to the woes of the end-users, the prevailing embargo on day-time movement of iron ore is encouraging the local transport mafia to dictate mineral freight rates. Ore transportation via rail is also not feasible due to short distance of the destination.

Source : Business Standard

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voda 17 februari 2017 15:01

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Europe widening protection net for domestic steel mills
Published on Fri, 17 Feb 2017

Reuters Steel lobby group Eurofer said on Thursday that Iranian exports to Europe had leapt to just over 1 million tonnes annually, putting the country just behind India at 1.9 million tonnes, while China shipped 5.7 million tonnes in 2016. Karl Tachelet, external relations and trade director at Eurofer, told Reuters that "The threat from Iran is new and it's going to be one of the top three issues: China, India, Iran.”

The EU is investigating alleged dumping of hot-rolled steel by producers in Serbia and Iran as well as Brazil, Russia and Ukraine. It has already imposed penalties on China, prompting an angry response and a WTO complaint from Beijing.

Eurofer says EU measures against nations such as China have helped to revive an industry that was deeply in crisis in late 2015 and early 2016 when steel prices were very low.

Source : Reuters

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voda 17 februari 2017 15:03

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Nippon Steel & Sumitomo Metal expects China steel prices to hold firm this year

Reuters reported that Nippon Steel & Sumitomo Metal, Japan's biggest steelmaker, expects steel prices in top consumer China to hold firm at least until its Communist Party congress late this year, amid solid demand that is underpinning coking coal and iron ore markets.

Nippon Steel executive vice president Mr Toshiharu Sakae told Reuters in an interview that "Steel demand and prices in China have been fairly strong on the government's stimulus. I expect this trend to continue for a year as Beijing will work hard to support its economy ahead of the Congress, referring to China's 19th Communist Party Congress that is expected to be held late in the second half of 2017.”

He said that "My guess is that coking coal prices will stay at USD 150 to USD 200 a tonne as China is said to be trying to cut market volatility, adding that iron ore prices may move towards USD 90 a tonne on a free-on-board basis on hopes that China's imports grow.”

Mr Sakae further said that China's iron ore futures hit their highest in more than three years this week, amid solid steel demand. To offset rising costs, Nippon Steel has sought to increase product prices by around JPY 20,000 (USD 174.73) per tonne this financial year, but will need more hikes next year.

He said that the high materials costs have squeezed margins and it is difficult to make the capital expenditure needed to maintain high quality and the swift delivery of products.

Source : Reuters

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