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35.173 Posts, Pagina: « 1 2 3 4 5 6 ... 610 611 612 613 614 615 616 617 618 619 620 ... 1755 1756 1757 1758 1759 » | Laatste
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Delong unit to buy 51% stake in Anhui steel maker

Business Times reported that a unit of Delong Holdings has agreed to acquire 51% stake in Anhui Shoukuang Dachang Metal Materials Limited Company from Beijing Shougang Mining Investment Co. Delong Steel had on May 10 entered into a binding memorandum of understanding (MOU) with the vendor. The remaining 49% in the target company is owned by Anhui Dachang Mining Group.

Delong said that "The target company will be principally engaged in the manufacture and sale of steel bars and wire rods. The target company is currently constructing an integrated steel plant, which will upon completion, result in the target company generating an annual production capacity of approximately 3.05 million tonnes. The construction has stopped since 2014 due to insufficient funding."

The group explained that the proposed acquisition presents a good opportunity for the group to expand its core business, and serves as a new engine of growth.

Delong Steel further agreed to pay the vendor a sum of 10 million yuan (USD 2 million) within seven working days after signing the MOU as a form of guarantee that Delong Steel shall participate in the bidding exercise.

Source : Business Times
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Bangladesh steel millers oppose 15pc VAT on rod

The Daily Star reported that Bangladesh steel millers warned of slowdown in infrastructure development and housing construction in both rural and urban areas if 15 percent VAT is slapped on rod under the new law. The steel millers said that at present, only Tk 900 is levied on each tonne of rod as VAT. The amount of VAT, also known as consumption tax, will rise to Tk 7,500 at a market price of Tk 50,000 per tonne once the new law comes into effect from July 1.

Mr Manwar Hossain chairman of the Bangladesh Auto Re-Rolling & Steel Mills Association at a press conference held at the National Press Club said that “The steel industry will suffer.”

Infrastructure development and housing construction will be affected for the imposition of the 15% VAT. Subsequently, he called for bringing down the rate to 3-5%.

Industry operators said the sector could keep up with the country's fast growing construction demand because of the reduced VAT rate on rod.

The country's annual demand for rod is estimated to be more than 25 lakh tonnes, according to EBL Securities' 2016 research report on the steel sector.

In recent years, steel makers started expanding their capacity to make billet, the main raw material for rod, in order to cut the cost of production by reducing import dependence.

The country's billet production capacity more than doubled to nearly 35-40 lakh tonnes per year, accounting for more than two-thirds of the annual demand, according to industry operators.

Source : The Daily Star
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Tata Steel UK gets grant to help safeguard industry's future in Wales

ITV.com reported that more than GBP 660,000 is being invested in research and development to help safeguard the long-term future of the steel industry in Wales. The Welsh Government said the grant is being made available to Tata Steel to develop higher-strength products at its sites in Port Talbot and Llanwern.

The aim is to place Wales in the best position to meet demand for advanced steel goods for the automotive and construction sectors.

The Welsh Government has been working to support Wales' steel workers and this latest offer demonstrates our continued commitment to safeguarding a long-term future for the steel industry in Wales.

Increasing the level of steel-related research and development taking place in Wales is critical if we are to meet the demands of the market and secure the long-term future of Welsh steel.

Source : ITV.com
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British Steel welcomes UK PM Ms Theresa May to Scunthorpe

Employees and management at British Steel welcomed the Prime Minister Theresa May to its Scunthorpe site. Management shared details about how far the business has come since its birth on 1 June last year and the plans being put in place to ensure it has a sustainable future. They also reinforced the importance of continued and easy access to the EU and international markets as well as continued access to the UK market for EU and global producers.

Prime Minister Theresa May said: “It was great to meet with employees at British Steel in Scunthorpe today and hear how their work is building a bright new future for the business. I applaud the pride they take in their work, which was clearly evident from everyone I talked to. We have already provided important support for the industry and I will continue to ensure the success of UK steel is at the heart of our modern Industrial Strategy.”

British Steel Executive Chairman Roland Junck said: “We’ve developed a vision that has 3 elements – firstly, we want to become a leader of business and community re-development in the areas in which we operate. Secondly, nationally we want to be the national champion in our chosen markets and recognised as the centre of competence for steel. And thirdly, internationally we want to be a competitive exporter and the right strategic business partner. We told the Prime Minister today that while we have already come a long way, we still have more to do to become sustainable and our vision strongly depends on how we can work collectively with the Government to make sure UK industry and UK manufacturing, is successful.”

Source : Scunthorpe Telegraph
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US March steel shipments up 6.4% - AISI

The American Iron and Steel Institute reported today that for the month of March 2017, U.S. steel mills shipped 7,692,434 net tons, a 6.4% increase from the 7,232,341 net tons shipped in the previous month,

Source : Strategic Research Institute
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AK Steel gets "Raw Material Supplier of the Year" award from FCA US

AK Steel said that the company was honored for excellence as FCA US LLC "Raw Material Supplier of the Year." The Supplier of the Year awards recognize companies that have shown extraordinary commitment to innovation, quality, warranty, cost, delivery and FCA's foundational principles.

Source : Strategic Research Institute
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Iran steel exports up 83%

Financial Tribune reported that steelmakers exported 359,572 tonne of semi-finished and finished steel products, including billet, bloom, slab, rebar, beam and coil, in the first month of the current fiscal year ending April 20, indicating an 83% growth compared with last year’s corresponding period, Iranian Mines and Mining Industries Development and Renovation Organization reported.

Khouzestan Steel Company was the top exporter with 167,095 tonne, followed by Esfahan Steel Company with 62,421 tonne, Hormozgan Steel Company with 52,000 tonne, Mobarakeh Steel Company with 50,669 tonne, Iran Alloy Steel Company with 21,778 tonne, Khorasan Steel Company with 4,249 tonne and Oxin Steel Company with 1,361 tonne.

Iran exported 3.74 million tonne of semis and 1.79 million tonne of finished steel products in the last fiscal year (March 2016-17), registering a 108% and 16% growth respectively, according to Iranian Steel Producers Association.

Thailand, the UAE, and Taiwan were the main customers of Iranian steel, accounting for 16%, 12% and 11% of 5.53 million tonne of total exports, according to IMIDRO.

Italy with 9%, Oman with 7%, China with 7%, Iraq with 6%, Afghanistan with 5%, Jordan with 3%, Turkey with 3%, Egypt with 3%, Brazil with 3%, Spain with 2%, Morocco with 2% and Turkmenistan with 2% followed.

Source : Financial Tribune
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How would you like your aluminium? Green or black - Andy Home

Reuters reported that aluminium is one of the materials benefiting from the greening of the world's economy. Lightweight and durable, it has been making steady inroads into the transportation sector in particular and enjoys one of the strongest usage profiles of any industrial metal. But what promoters such as the Aluminum Association dub "the miracle metal" has a dirty little secret.

To produce the stuff requires a lot of electricity and in many parts of the world that electricity is generated by coal, every environmentalist's bogey fossil fuel.

Aluminium's split eco-personality, green in its applications, a lot darker in its production, has been exposed by China's inclusion of the metal in the list of industries targeted for smog-busting production cuts during the winter
heating months.

The resulting supply uncertainty has elevated aluminium to the best performer among the major industrial metals traded on the London Metal Exchange this year.

But that might be just the start of the price implications.

Some of the world's largest producers of aluminium are now starting to push environmental sustainability as a market differentiator.

Consumers may soon have a choice of buying green, low-carbon aluminium or "black" metal with a higher carbon footprint, raising the prospect of a two-tier market structure.

Norwegian producer Norsk Hydro aims to be carbon neutral from a life-cycle perspective by 2020, the company's head of strategy and analysis, Kathrine Fog, told CRU's World Aluminium Conference in London last week.

There are plenty of levers to be pulled in achieving that aim, ranging from the production process to recycling, but the clue to Hydro's real green advantage is in the company's name.

Its smelters use hydro-electric power to make aluminium, which translates into carbon emissions at one fifth the scale of those generated by coal-derived power, according to the company's website.

So too do those of Russian giant Rusal. It has closed older inefficient plants and upgraded others to slash direct emissions, its head of research Denis Nushtaev said at the same conference.

Rusal is aiming to achieve a target of seven tonnes of carbon dioxide to a tonne of aluminium by 2025, including both power and alumina inputs.

Not to be outdone, Rio Tinto's vice president for aluminium sales and marketing, Tolga Egrilmezer, said his company is aiming for a four-to-one tonne CO2-aluminium ratio.

All three companies are backers of the new Aluminium Stewardship Initiative, which is in the process of creating sustainability benchmarks for the aluminium supply chain from bauxite mining to recycling.

And all three see "sustainability" as "a market driver", to quote Rio, as major users include carbon footprint and environmental performance in their buying criteria.

Source : Reuters
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NSL to fill 20,000 tonne filter cake order

NSL Consolidated has begun to receive the high grade feed required to supply Infinity Ores with 20,000 tonnes of 63% Fe filter cake (wet plant product) in terms of the purchase order received in mid April. The high grade feed is currently being incorporated into the plant feed process and IFO is expected to deliver 10,000 tonnes of higher grade feed for blending with existing plant feed in the coming weeks.

The higher grade feed is expected to facilitate the routine production of +63% product for IFO at the negotiated sales price of AUD 65 (equivalent) ex gate with payment in advance based on 1,000 tonne lots.

IFO is to provide high grade feed for blending with the existing plant feed to routinely produce +63% Fe wet plant product for the existing and expected future orders.

Commenting on this development, NSL’s Managing Director Mr Goode said that “We are very pleased to be receiving the high grade feed from IFO as part of its obligations under the purchase order, showing IFO’s commitment to the company.”

By way of background, NSL is the only Australian or foreign company to own and operate in India’s massive iron ore market. The company has established its Phase Two wet beneficiation plant that will produce premium price iron ore product nominally grading between 58% and 62% at around 200,000 tonnes per annum.

The Phase Two wet beneficiation plant at the existing NSL stockyard will be fed material from NSL’s mines.

While a retracement in NSL’s share price over the last three months can arguably be attributed to negative sentiment towards the iron ore sector, the company is a long-term play with a robust production expansion profile.

This is, however, still a speculative stock and share trading patterns should not be used as the basis for an investment as they may or may not be replicated. Investors should seek professional financial advice if considering this stock for their portfolio.

Source : Fin Feed.com
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Steel giant ArcelorMittal delivered a "solid beat" when reporting 1Q results earlier today, according to analysts at Berenberg. "This is as very solid set of results, mostly driven by volume," the analysts say. They also call the company's guidance for 2Q "reassuring." ArcelorMittal said it sees market conditions as "broadly stable" in the current quarter. The company also reiterated its guidance for the full year, saying it expects capital expenditure to increase to $2.9 billion. Berenberg rates the group as 'Buy,' with a price target of EUR12. (christopher.alessi@ws...

(END) Dow Jones Newswires 12-05-17 0638GMT Copyright (c) 2017 Dow Jones & Company, Inc.
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Beursblik: Barclays verlaagt advies ArcelorMittal

Advies naar Onderwogen.

(ABM FN-Dow Jones) Barclays heeft maandag het advies voor ArcelorMittal verlaagd van Gelijkgewogen naar Onderwogen en het koersdoel neerwaarts bijgesteld van 7,00 naar 5,50 euro.

De analisten van de Britse bank wezen op een aantal ontwikkelingen die volgens hen negatief zijn voor de staalmaker. Zo bereikte de Chinese staalproductie het hoogste niveau ooit in april en de Amerikaanse staalimport kwam op het hoogste niveau van de afgelopen twee jaar uit in maart. Bovendien heeft de World Steel Association onlangs de verwachting afgegeven dat de Amerikaanse vraag naar staal in 2018 10 procent lager zal komen te liggen dan in 2014 het geval was.

De marktvorsers van de Britse bank denken dat de Europese staalprijzen dalingen tegemoet gaan. Omdat ze ook op lagere volumes rekenen, zien ze de winstgevendheid voor ArcelorMittal in de tweede helft van het jaar dalen.

Op een rood Damrak noteerde het aandeel ArcelorMittal 1,7 procent hoger op 6,77 euro.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

Copyright ABM Financial News. All rights reserved

(END) Dow Jones Newswires
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Salzgitter boekt meer winst

Outlook 2017 gehandhaafd.

(ABM FN-Dow Jones) Salzgitter heeft in de eerste drie maanden van het jaar flink meer winst geboekt en handhaafde als gevolg de verwachtingen voor heel het jaar. Dit meldde het staalbedrijf maandag voorbeurs.

Volgens Salzgitter boekte het bedrijf de hoogste kwartaalresultaten sinds 2008, mede vanwege de prestaties binnen de divisies bandstaal, handel en technologie. Bovendien speelden interne verbeteringsprogramma's het bedrijf in de kaart.

De externe omzet van Salzgitter steeg in de afgelopen drie maanden op jaarbasis van 1.869 miljoen naar 2.354 miljoen euro. Het bedrijfsresultaat (EBITDA) steeg van 105,6 miljoen naar 184,8 miljoen euro.

Onder de streep restte een nettowinst van 48,7 miljoen euro, flink meer dan de 1,0 miljoen euro uit dezelfde periode een jaar eerder.

Outlook

Salzgitter handhaafde de eerder deze maand verhoogde outlook voor heel het jaar. Het bedrijf mikt daarmee onder meer op een omzet van circa 9,0 miljard euro. De winst voor belastingen kan dit jaar mogelijk uitkomen op 125 miljoen tot 175 miljoen euro.

Het aandeel Salzgitter sloot vrijdag 3,0 procent lager op 31,92 euro.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

Copyright ABM Financial News. All rights reserved

(END) Dow Jones Newswires
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Hebei Province admits more lapses in overcapacity fight - Reuters

Reuters reported that Chinese environmental bureau said that China's Hebei province is not properly enforcing policies to cut pollution or reduce chronic overcapacity in major industrial sectors like steel and coal. The provincial environmental protection bureau said in a statement late on Thursday it has launched its own campaign to root out ineffective mobilization by officials in the battle against pollution.

It said that “One of the key problems was the failure to implement industry overcapacity rules. During campaigns to cut excessive steel, iron, cement, glass, coking coal and coal capacity, some illegal plants were suspended but not shut down, allowing dead facilities to spring back to life or relocate. Also, shuttered zombie firms did not have their power or water supplies cut off or their facilities demolished, allowing them to re-open. Policies aimed at converting villages from coal to gas or electricity were not being implemented properly or according to schedule.”

Hebei produces more steel a year than the whole of the European Union, and it aims to cut total annual production capacity to less than 200 million tonnes by the end of the decade, down from 286 million tonnes in 2013. However, despite plans to shed 60 million tonnes of capacity over the 2013-2017 period, Hebei actually saw production increase in 2016.

The northern province, one of China's most polluted regions, has launched a campaign to hold officials accountable for enforcing environmental policies and to tackle grass roots micro-corruption.

Hebei surrounds Beijing and is estimated to be the source of about a third of the particulate matter drifting over Beijing.

Source : Reuters
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EU slaps new anti dumping duties on China seamless pipes products

Associated Press reported that European Union has slapped anti dumping duties on more steel products from China to stop them flooding Europe's struggling steel market. The European Commission said Friday that a new investigation had shown that Chinese seamless pipes were being sold in Europe at dumped prices. Those Chinese exports will now be taxed with an extra duty ranging from 29.2% to 54.9%.

Commission spokesman Margaritis Schinas said that "This is another clear example of how we're using the available toolbox of trade defense instruments to address unfair imports of steel."

In January, the EU imposed extra duties on China and Taiwan for dumping stainless steel tube and a type of butt-welded pipe fitting on the European market.

Source : Associated Press
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US Steel Industry is on the rebound under Mr Trump - AISI

According to the New York Times, American Steel is on the rebound with stock prices and confidence soaring within the industry. Mr Thomas Gibson president of the American Iron and Steel Institute told the NY Times that “If you could design a perfect administration from the perspective of the steel industry, this would be it.”

President Trump campaigned on the promise to bring back American jobs to industries that have been decimated by foreign competition, like steel.

For years, American producers have complained about China’s highly subsidized steel industry. The Chinese government pays its producers to make steel, regardless of demand. The result is an excess supply, which allows China to sell at a price Americans can’t match.

The Trump administration launched an investigation into steel imports after US Steel Corp asked a trade agency to look into Chinese collusion allegations. US Steel asserts that Chinese rivals are conspiring to box out American companies.

Source : The Daily Caller News
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ThyssenKrupp in talks with many companies for consolidation

Economic Times reported that German engineering giant Thyssenkrupp are in talks with other European companies including Tata Steel for consolidation of its steel making facility in Europe. Speaking to reporters on the side lines of a function to inaugurate a new elevator facility in Pune, Mr Oliver Burkhard a member of the executive board at Thyssenkrupp AG said that "We expect consolidation in the European steel industry for steelmakers to stay afloat. We don't know when and with whom we will close the deal but we are in talks with other European steel companies and the status of a merger with Tata Steel UK is where it was."

Mr Burkhard clarified that Tata Steel is just one of the companies that they are in talks with.

A report by Reuters published on Thursday said analysts raised misgivings over how the management is focusing only on a possible partnership with Tata Steel's UK operations and hasn't prepare an alternative, such as spinning off its operations.

Source : Economic Times
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Usiminas implements USD 320 million reduction in unit capital

Reuter reported that Brazil's Usinas Siderurgicas de Minas Gerais SA implemented a 1 billion reais (USD 318.5 million) capital reduction in division Mineracao Usiminas SA. Shareholders had approved the transaction on March 3.

Usiminas, as the company is known, has been trying for months to tap excess cash from MUSA to comply with a debt refinancing accord with banks. The initiative was rejected in January by MUSA shareholder Sumitomo Corp.

Source : Reuters
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ThyssenKrupp inaugurates elevator manufacturing site in Pune

ThyssenKrupp inaugurated in the Chakan Industrial Area of Pune, Maharashtra, India its newest Multi-Purpose Facility for the elevator industry, including manufacturing of elevators, distribution center and training facilities.

Source : Strategic Research Institute
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JSPL to increase Angul plant capacity to 6 million tonnes soon

Odisha TV reported that Jindal Steel and Power Plant’s which increased the capacity of its steel plant in Angul in Odisha to six million tonne per annum from 2 million tonne per annum would commission it by the end of May. JSPL Chairman Mr Naveen Jindal informed that the sinter plant has already been commissioned and the blast furnace is likely to be commissioned by next week.

In the first phase, the Angul steel plant would be expanded from the present capacity of 2 MTPA to 6 MTPA.

The blast furnace at Angul is part of the company’s proposed 12.5 MTPA steel plant and 2,600 MW of power projects in phases, said company sources.

With the commissioning of the blast furnace, JSPL will become India’s fourth largest steelmaker after JSW, SAIL and Tata Steel.

Source : Odisha TV
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Vertraagd 17 jun 2024 11:40
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