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voda 24 oktober 2017 14:59

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Vale Q3 iron ore production summary

Vale's iron ore production achieved a quarterly record of 95.1 million tonne in 3Q17, 3.3 million tonne higher than in 2Q17 mainly due to better operational performance in the Northern System and the S11D ramp- up. Production was 3.0 million tonne higher than in 3Q16 due to the S11D start-up in 4Q16 in the Northern System.

As announced in the 2Q17 Production Report, production of ore with high silica content from the Southern and Southeastern Systems was reduced by an annualized rate of 19 million tonne.

Production will therefore be within the lower end of the 360-380 million tonne guidance range for 2017, in line with the ongoing strategy to maximize margins.

Vale reaffirms its long-term base case target of 400 million tonne of total production per year.

Vale's Global Recovery rate (GR)4 increased from 47% in 3Q15 to 49% in 3Q16 and to 50% in 3Q17, with an estimate of 51% for 2017.

Iron ore and pellets shipments from Brazil and Argentina totaled 86.0 million tonne in 3Q17, 9.0 million tonne and 1.7 million tonne higher than in 3Q15 and 3Q16, respectively, mainly due to higher production in the Northern System.

Blended volumes in Asia totaled 19.3 million tonne in 3Q17, 14.3 million tonne and 10.2 million tonne higher than in 3Q15 and 3Q16, respectively, as a result of the ongoing strategy to bring more flexibility to the integrated supply chain, consequently increasing Vale's offshore blending capacity, to respond to market conditions.

The share of offshore inventories over total inventories increased from 15% in 2015 and 2016 to 30% in 3Q17, reflecting the ongoing strategy to shift inventories downstream along the supply chain and closer to the final costumer. The expectation is to maintain 30% of total inventories offshore by the end of 2017.

Sales volumes for 3Q17 were lower than production volumes, implying a slight inventory build-up as a result of operational needs and market strategies. However, the sales/production volume ratio were higher than in 2Q17.

The average Fe content was 64.1% in 3Q17, slightly higher than the 63.8% in 2Q17. The increase results from the curtailment of high silica products and Vale's strategy to improve iron ore price realization.

Northern System
The Northern System, which comprises Carajas, Serra Leste and S11D, achieved a quarterly record of 45.0 million tonne in 3Q17, 8.5% and 16.4% higher than in 2Q17 and 3Q16, respectively, mainly due to the ramp-up of S11D, which is advancing according to plan, with better operational performance in the mine and plant at Carajas and the positive weather-related seasonality.

Southeastern System
The Southeastern System, which encompasses the Itabira, Minas Centrais and Mariana mining hubs, produced 26.9 million tonne in 3Q17, 0.6 million tonne and 0.3 million tonne lower than in 2Q17 and 3Q16, respectively, mainly due to the curtailment of production in some mines prioritizing higher margins.

Southern System
The Southern System, which encompasses the Paraopeba, Vargem Grande and Minas Itabirito mining hubs, produced 22.6 million tonne in 3Q17, in line with 2Q17 but 12.0% lower than in 3Q16, mainly due to the curtailment of production in some mines prioritizing higher margins.

Midwestern System
The Midwestern System, which encompasses the Urucum and the Corumba mines, produced 0.6 million tonne in 3Q17, in line with 2Q17 and 3Q16, as a result of Vale's continuing strategy to optimize margins.

Source : Strategic Research Institute

voda 24 oktober 2017 15:03

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Tanzanian president likely to resume ore exports

Stock Head reported that Tanzania focused explorers are closely watching a deal between the world’s biggest gold miner and the East African nation to settle a six-month dispute over ore exports. In March, the Tanzanian government banned exports of unprocessed ore to boost its domestic smelting industry.

Barrick Gold a USD 20 billion Toronto-listed miner owns the majority of one of Tanzania’s main gold producers, Acacia Mining.

Last week Barrick negotiated a settlement with Tanzanian president Mr John Magufuli, agreeing to hand over a 16 per cent stake in its local operations, a 50 per cent share of the takings and USD 300 million towards a disputed tax bill.

OreCorp a joint venture partner in one of Acacia’s Tanzania projects said that “The company continues to monitor developments and will seek advice on the framework once further information is available. Based on the company’s review of the limited information that has been announced, it is not currently possible to predict the potential impacts on the Nyanzaga project.”

Source : Stock Head

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voda 24 oktober 2017 15:03

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Vale Q3 iron ore pellets production overview

Vale's pellet production achieved a quarterly record of 12.8 million tonne in 3Q17, 4.5% and 5.8% higher than in 2Q17 and 3Q16, respectively, mainly due to higher productivity and a reduction in the number of scheduled maintenance stoppages.

Projects for restarting the Sao Luis and the Tubarao II pellet plants are on schedule, with their start-up envisioned for the first half of 2018.

Southeastern system
Production at the Tubarao pellet plants - Tubarao 3, 4, 5, 6, 7 and 8 - reached 7.7 million tonne in 3Q17, remaining in line with 2Q17 and 9.7% higher than in 3Q16, mainly due to the scheduled maintenance stoppage of Tubarao 7 in July and August of 2016.
Southern system The Fabrica pellet plant achieved a production level of 1.0 million tonne in 3Q17, 8.6% higher than in 2Q17 due to higher availability of feed, and 4.4% higher than in 3Q16 due to higher productivity in the plant.

The Vargem Grande pellet plant reached 1.6 million tonne of production in 3Q17, in line with 2Q17, but 10.6% lower than in 3Q16, as a result of lower availability of feed due to a maintenance stoppage in the iron ore concentration plant.

Oman operations
The Oman pellet plant achieved a quarterly record of 2.5 million tonne in 3Q17, 27.7% higher than in 2Q17 due to a 37-day scheduled maintenance stoppage in one of the plant's lines in April and May 2017, and 7.1% higher than in 3Q16 due to higher productivity in the plants.

Source : Strategic Research Institute

voda 24 oktober 2017 15:06

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Iran H1 iron ore exports earn USD 490 million

Iranian iron ore miners exported over 8.69 million tons of granulated hematite iron ore with over 40% content worth USD 491.82 million during the first six months of the current fiscal year (March 21-Sept. 22), indicating a 7% and 54% year-on-year growth in shipment volume and value respectively, the Islamic Republic of Iran Customs Administration announced. China was the destination for USD 476 million of the shipments, with India, Turkey, Germany, Iraq, Turkmenistan, the UAE, Slovenia, Uzbekistan and Armenia accounting for the rest.

Hematite iron ore exports for the period accounted for 14.8% and 2.32% of Iran’s total exports in H1, customs data indicate. Iran also exported 352,000 tons of the same material but with less than 40% content in the six-month period with a total value of USD 7.3 million. This is mostly due to China’s shifting policy on imports of low-content iron ore in line with the country’s new environmental concerns.

Source : Strategic Research Institute

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voda 24 oktober 2017 15:06

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Vale Q3 Manganese production overview

Manganese ore production totaled 568,000 t in 3Q17, 12.1% higher than in 2Q17 and 11.5% lower than in 3Q16. Ferroalloy production reached 35,000 t in 3Q17, in line with 3Q16 and 11.6% lower than in 2Q17.

Manganese ore production
Production at the Azul manganese mine totaled 382,0001 in 3Q17, 19.8% higher than in 2Q17 due to a scheduled maintenance stoppage in the plant in June, and 19.7% lower than in 3Q16 mainly due to lower availability of high grade run of mine.

Production at the Urucum mine totaled 160,000 t in 3Q17, 6.8% and 4.2% lower than in 2Q17 and 3Q16, respectively, mainly due to a 10 day scheduled maintenance stoppage at the beneficiation plant.

Production at the Urucum mine totaled 160,000 t in 3Q17, 6.8% and 4.2% lower than in 2Q17 and 3Q16, respectively, mainly due to a 10 day scheduled maintenance stoppage at the beneficiation plant.

Production at the Morro da Mina mine totaled 27,000 tonne in 3Q17, 57.9% higher than in 2Q17 mainly due to an increase in production at the Barbacena ferroalloys plant, in response to higher demand from customers. There was no production in 3Q16.
Ferroalloy production Ferroalloy production in 3Q17 totaled 35,0001, in line with 3Q16 but 11.6% lower than in 2Q17 due to stoppage in Furnace 8 in Simoes Filho plant. Production was made up of 17,000 t of ferrosilicon manganese (FeSiMn), 12,0001 of high-carbon manganese (FeMnHC) and 6,0001 of medium-carbon manganese.

Source : Strategic Research Institute

voda 24 oktober 2017 15:07

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Iron ore seen back in USD 40s as China challenges loom in 2018

Bloomberg reported that iron ore may get a reprieve for the remainder of this year before tougher times return in 2018, according to Schroders Plc, which said that the raw material may sink back below USD 50 a metric ton as the effect of credit-led stimulus in China wears off and demand concerns resurface in the top user.

Mr James Luke a London-based fund manager at Schroders, which oversees about 418 billion pounds (USD 556 billion) said that “The underlying supply and demand is pretty negative, so over a decent time period we wouldn’t be surprised to see iron ore back in the USD 40s. We think some shift back toward focusing on underlying demand problems will cause some issues.”

Iron ore sank into a bear market last month, although record import figures from China for September helped arrest the slide just as investors focus on this week’s Communist Party congress. The outlook from Schroders suggests further losses next year, and it’s similar to forecasts from Citigroup Inc. and Australia’s government. So far in 2017, prices have dropped 20 percent, hurting income for producers including Rio Tinto Group, BHP Billiton Ltd. and Vale SA.

Mr Luke said that “From here till year-end, I think we’re more balanced now, citing the exit of some supply in China as well as the potential easing of steel capacity cuts beyond October. “Through the next six to 12 months you’re going to see some rebalancing of expectations between supply bullishness to more structural demand worries.”

Spot ore with 62 percent content in Qingdao fell 0.4 percent to USD 62.72 a dry ton on Tuesday, snapping three days of gains, according to Metal Bulletin Ltd. While it’s swung this year between almost USD 95 in February and a low near USD 53 in June, iron ore hasn’t traded in the USD 40s since mid-2016.

Quarterly Outlook
In its latest quarterly outlook, Australia predicted that iron ore will trade at USD 49.50 next year and USD 49 in 2019, citing growing low-cost supply from Australia and Brazil and moderating demand from China. In particular, it saw mainland steel use dropping 1.6 percent to 748 million tonnes in 2018.

The World Steel Association warned on Monday China’s steel demand will stagnate as the government presses on with rebalancing and environmental protection. Consumption will show no growth at 766 million tonnes in 2018, according to the group, which flagged the country’s debt problem as a risk.

Citigroup which has been consistently bullish on the outlook for most commodities said in a September report that iron ore may fall back to average USD 53 next year. The sharp on-year drop may be due primarily to heightened concerns of a slowdown in China, as well as extra supply.

In a sign of rising supply, Rio Tinto confirmed it’s on track for record annual shipments as a production report on Tuesday showed quarterly cargoes from the world’s No. 2 exporter continued to increase. Rivals BHP and Brazil’s Vale are due to release operational results later this week.

This year, China’s cracked down on mills, shuttering capacity, to ease pollution in a drive that’s intensified in the run up to the congress and aided demand for high-grade iron ore. Given the political importance of the gathering, officials might have been motivated to carry out the curbs strictly, and there’s now concern how committed they’ll be after the event, according to Luke.

Source : Bloomberg

voda 24 oktober 2017 15:08

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China to explore iron ore in Peru

Bnamericas reported that Peru, traditionally a copper, zinc and precious metals miner, is closer to becoming a regional force in the iron ore industry as Chinese mining companies ramp up investment.

Zhongrong Xinda Group's Jinzhao Mining unit plans to start construction at its USD 2.5 billionn Pampa de Pongo iron ore project in the second quarter of 2018. The company aims to finish work on a feasibility study next month for the 21,200ha property in Arequipa region before securing final permits from the energy and mines ministry. The project, which has 3.4 billion tonne in reserves, is designed to produce 22.5 million tonne per year.

The project, which is scheduled to start operating in the third quarter of 2019, involves USD 1.3 billion in mine development and USD 1.2 billion in plant construction. The project will also feature a desalination plant and a slurry pipeline to the port of Marcona.

Source : Bnamericas

voda 24 oktober 2017 15:10

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Western Australia exports in 2016 up by 18pct

Australia Mining reported that Western Australian Department of Mines Industry Regulation and Safety report has revealed that the state’s exports reached nearly AUD 105 billion over the past year, an 18% increase over 2015–16 figures. Iron ore represents a large part of the sum, with it worth about AUD 63 billion overall, an impressive increase of 30 per cent over 2015–16 figures.

Rio Tinto alone represented AUD 10 billion of iron ore exports for its half year 2017 (Jan–June) figures, while BHP made around AUD 4.5 billion from its third quarter 2017 (July–Sept) iron ore exports.

LNG (liquefied natural gas) has also done well this year with about AUD 6.8 billion of exports recorded in 2017 so far, considerably higher than natural gas’s AUD 880 million and crude oil’s AUD 1.45 billion amounts registered over the same period.

Figures for the 2016–17 financial year, ending June 2017, stand at AUD 12.7 billion for LNG, AUD 1.8 billion for natural gas and AUD 2 billion for crude. Overall, LNG accounted for about two-thirds of total petroleum revenue in FY2017.

Mineral Resources is a rising star on this year’s list of WA-based exporters, having expanded its operations into the burgeoning lithium market.

The company recently made a deal with Hazer Group to create a large-scale synthetic graphite facility.

Source : Australia Mining

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voda 24 oktober 2017 15:11

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Baffinland sets shipping record of 4.1M tonnes over 75 days

Canadian mining Journal reported that Baffinland Iron Mines Corp of Oakville, Ont, has set a seasonal shipping record of approximately 4.1 million tonnes of iron ore from its Milne Inlet port to markets in Germany, the United Kingdom, and Japan. Over 75 days, 56 Panamax vessels were deployed, each carrying an average of 72,600 tonnes.

Baffinland owns and operates the Mary River direct shipping iron mine near Pond Inlet n the Qikiqtani region. The project area covers at least nine high grade deposits and a total of 249.5 million proven and probable reserves. Thus far, the company has focused on mining the No.1 deposit.

Mr Brian Penney, president and CEO of Baffinland acknowledged all those who made the record possible said that “I also want to thank all of our partners involved in making this program a success, including our shipping partners, ice management experts, the Canadian Coast Guard, and the continued support of the North Baffin communities, in particular Pond Inlet, and the Qikiqtani Inuit Association.”

Source : Canadian mining Journal

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voda 24 oktober 2017 15:13

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CU River to invest AUD 800 million in Southern Australia

Australian Mining reported that CU River Mining has secured an agreement that will fund an AUD 800 million expansion of the Cairn Hill iron ore mine in South Australia. Privately-owned CU River, which acquired the mothballed operation near Coober Pedy in 2014, plans to lift production at the magnetite mine to 15 million tonnes per annum.

CU River reached a one million tonne production target at the site in August, about 12 months after it reopened the operation.

The South Australian Chamber of Mines and Energy welcomed CU River’s AUD 800 million deal to expand the Cairn Hill mine.

SACOME chief executive Rebecca Knol said the CU River announcement was yet another good news story for the state following BHP’s Southern Mine Area expansion at Olympic Dam and OZ Minerals’ approval of the AUD 916 million Carrapateena project.

Ms Knol said that “Expansion of the Cairn Hill mine forms part of an exciting pipeline of discoveries and projects that support a sustainable and profitable resources sector, contributing to the South Australian economy.”

CU River’s expansion plans will assist SA’s magnetite strategy goal of producing 50Mt of magnetite iron ore per year by 2030.

The company is one of only two iron ore exporters in SA, with its product shipped to China. It created more than 60 jobs in SA by reopening the mine.

Source : Australian Mining

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voda 24 oktober 2017 15:21

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Tata Steel Nederland maakt zich op voor de Ondernemingskamer

Tata Steel Nederland wil voor elkaar krijgen dat het zogeheten structuurregime behouden blijft in IJmuiden.Foto: Arie Kievit/Hollandse Hoogte

Tata Steel Nederland maakt zich op voor een zaak bij de Ondernemingskamer om de voorgenomen fusie tussen Tata Steel Europe en het Duitse ThyssenKrupp tegen te houden.

Directie, raad van commissarissen en centrale ondernemingsraad van Tata Steel Nederland willen bij de Ondernemingskamer, onderdeel van het Gerechtshof Amsterdam, voor elkaar krijgen dat het zogeheten structuurregime behouden blijft in IJmuiden. Die vorm van bestuur geeft de Nederlandse vestiging van het Indiase Tata Steel onder meer zeggenschap over de eigen investeringen.

Wettelijk verplicht
‘Als de Indiërs niet willen buigen voor wat in Nederland wettelijk verplicht is, dan gaan we naar de Ondernemingskamer’, zeggen ingewijden tegenover het FD. ‘We werken niet mee aan een ondernemingsstructuur die slechter is dan de huidige governance-structuur.’ De dreiging van een gang naar de Ondernemingskamer volgt op een spontane werkonderbreking van twee uur door medewerkers van de overslag in IJmuiden maandagochtend.

Vorige week kregen directie, commissarissen en ondernemingsraad op hoofdlijnen te horen wat er in het principeakkoord staat dat een fusie regelt tussen de Europese activiteiten van Tata Steel (Nederland en het Verenigd Koninkrijk) en ThyssenKrupp. Daarin is, aldus een andere ingewijde, sprake van vrije toegang voor de eigenaren tot de cash van de werkmaatschappijen, dus ook van Tata Steel Nederland.

Dat roept in IJmuiden spookbeelden op aan 2003, toen het Britse Corus, waarvan Hoogovens onderdeel was, probeerden de Nederlandse aluminiumtak te verkopen. ‘De Britten probeerden zo hun eigen financiële gaten te dichten. Dat was eens maar nooit weer’, aldus een ingewijde.

Hek om IJmuiden
Onder een structuurregime kunnen de raad van commissarissen en de ondernemingsraad een nieuwe greep in de kas door de aandeelhouders voorkomen. Afspraken over dit financiële hek om IJmuiden, de zogeheten 'ringfencing', zijn vastgelegd in een convenant met de Britse tak van Tata Steel. ‘Er zit een zwaar slot op de deur’, aldus de ingewijde.

IJmuiden vreest ook dat de Indiase eigenaren de kasstroom van de Nederlandse tak zullen aanwenden om de schulden af te lossen die ze zijn aangegaan om in 2007 Corus te kopen. Dat zou ten koste gaan van de investeringen in IJmuiden. De Indiërs hebben ten minste €9 mrd betaald voor de Britse en Nederlandse staalactiviteiten samen. Pikant is dat het principeakkoord dat de Indiase eigenaren met de Duitsers vorige maand hebben ondertekend, niet bindend is.

Voor meer, zie link:

fd.nl/ondernemen/1223986/tata-steel-n...

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mvliex 1 25 oktober 2017 08:27

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*Goldman Sachs handhaaft koopadvies op ArcelorMittal

(END) Dow Jones Newswires
October 25, 2017 01:58 ET (05:58 GMT)

*Goldman Sachs verhoogt koersdoel ArcelorMittal van 27,00 naar 29,50 euro

(END) Dow Jones Newswires
October 25, 2017 01:58 ET (05:58 GMT)

voda 25 oktober 2017 16:25

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Beursblik: Goldman Sachs verhoogt koersdoel ArcelorMittal

Koersdoel naar 29,50 euro.

(ABM FN-Dow Jones) Goldman Sachs heeft het koersdoel voor ArcelorMittal verhoogd van 27,00 naar 29,50 euro bij een ongewijzigd koopadvies.

Het staalbedrijf maakt op 10 november de resultaten over het derde kwartaal bekend. Analisten van Goldman Sachs rekenen op een bedrijfsresultaat (EBITDA) van 1,86 miljard dollar. De outlook voor het vierde kwartaal zou volgens de Amerikaanse zakenbank positief moeten zijn.

De marktvorsers stelden dat ArcelorMittal mogelijk opmerkingen zal maken over de spreads, een mogelijke dividenduitkering en grote wijzigingen in de komende jaren voor de kasstroomvereisten.

Het aandeel ArcelorMittal sloot dinsdag 0,6 procent hoger op 25,82 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

voda 25 oktober 2017 16:27

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Beursblik: Goldman Sachs haalt Aperam van kooplijst

Koersdoel onveranderd op 50,00 euro.

(ABM FN-Dow Jones) Goldman Sachs heeft het advies voor Aperam verlaagd van Kopen naar Neutraal, maar handhaafde het koersdoel op 50,00 euro. Dit bleek uit een sectorrapport van de Amerikaanse zakenbank.

"We zien een gebrek aan extra aanjagers op de korte termijn", aldus de analisten. Daarbij verwacht Goldman Sachs dat de resultaten in het derde kwartaal "uitdagend" zullen zijn, terwijl de positieve verwachtingen voor de sector al in de koers van Aperam zijn verwerkt. Dit is de reden dat de zakenbank elders in de sector betere kansen ziet.

Het aandeel Aperam sloot dinsdag 0,9 procent hoger op 47,20 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

voda 25 oktober 2017 16:52

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China to prevent illegal steel plants from returning to the market

Bloomberg reported that China will prevent shuttered or illegal steel plants from returning to the market, according to an official at the nation’s lead economic planning body, signaling a commitment to a campaign by the world’s top producer that has helped to raise prices. Mr Ning Jizhe, vice chairman of the National Development and Reform Commission told reporters during the 19th Communist Party Congress that the nation will stick to its capacity-cuts mission this year. Separately, NDRC Chairman He Lifeng said cuts to steel and coal capacity had resulted in more than 1.1 million workers being “reemployed” after job cuts.

China’s been ordering illegal steel mills to close, both to reduce overcapacity and to clean up the environment, and officials plan a battery of further output cuts at remaining plants over the winter in key production centers. Benchmark steel prices have advanced this year, with spot reinforcement bar gaining last month to the highest level since 2011. The nationwide drive has also triggered a drop-off in exports from China, easing the pressure on producers elsewhere.

Mr Atilla Widnell head of market intelligence at Mysteel Singapore Pte, told Bloomberg that “State and local governments have taken supply-side reforms of overcapacity in the domestic steel industry extremely seriously.” The impact is material both to the tightening of the domestic balance, and to markets outside China due to the sheer volume the country exports, according to Widnell.

Steel production sank from a record in September, hitting the lowest in at least six months, as the campaign to cut excess capacity and the anti-pollution drive touted by President Xi Jinping in his policy address to the congress made their mark. Output was 71.83 million metric tonnes in September from 74.59 million tonnes in August. At the same time exports have been dropping, slumping to 5.1 million tonnes last month, the lowest total since February 2014.

Imports of Chinese steel into the US are expected to decline in 2018, According to Lourenco Goncalves head of Cleveland-Cliffs Inc, China is finally doing what they said they would do.

Banks are trying to figure out how severe the rollback in steel production will be, with Macquarie Group Ltd saying that the coming months will be all about the winter cuts. It estimated that 95 million tons of capacity will be affected between November and March, and that equated to about 32 million tons of lost crude steel production, according to a recent report.

Source : Bloomberg

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voda 25 oktober 2017 16:53

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Kobe Steel scandal - Withdrawing its full year earnings forecast - Kyodo

Kyodo reported that Kobe Steel Ltd is considering withdrawing its earnings forecast for this fiscal year as it struggles to quantify the impact of its data falsification scandal.

Earlier Japan’s No. 3 steelmaker has forecast a profit for the year through March 2018 after two successive annual losses, but the outlook has been clouded by the potential fallout from the falsification scandal that has sent shockwaves along global supply chains.

A Kobe Steel spokesman said the report did not come from the company. He said that “We are making preparations for our earnings announcement and can’t make any further comment.”

Source : Reuters

voda 25 oktober 2017 16:54

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Mesco-Posco Finex deal delay due to market slow down

Business Standard reported that the transfer of Finex, a technology patented by Posco, to Mesco Steel is now kept at bay because of the slow down in the steel industry. Both Posco and Mesco have mutually agreed to delay the project till the steel industry revives. Ms Rita Singh, chairperson cum managing director of Mesco steel said that "The kind of technology they wanted to bring is too expensive and steel industry is not doing well. There is mutually agreement we will not do it for some time till the steel industry gets up.”

To facilitate the transfer of Finex technology, both Mesco and Posco had signed a memorandum of agreement in March 2015. In a statement, Mesco Steel had said Posco would have 26% equity in the joint venture project.

Noted consultant Dastur & Company was roped in to study the modalities of the technology patented by Posco. Since the Finex plant requires a lot of oxygen and power, Mesco Steel has already initiated talks with some companies for setting up auxiliary plants on the JV route. The Finex plant during operation would need a running 100 Mw captive power plant and an oxygen plant of 1000 tonne per day capacity.

Finex process is expected to cut hot metal production cost for Mesco by INR 2000 to INR 2500 per tonne.

It was agreed upon that both Posco and Mesco would enter into a definitive pact for transfer of Finex technology. After that, the process of dismantling of Posco's Finex plant in Korea and its subsequent installation at Mesco premises would take off.

Mesco's Kalinganagar plant has a pig iron making facility of 1.2 million tonnes per annum. It hopes to achieve steel making capacity of 3.5 million tonnes per annum in two phase. Mesco Group has taken over Maithan Ispat Ltd since 2015 which has capacity of one million tonne.

Source : Business Standard

voda 25 oktober 2017 17:02

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China's top steelmaking city deepens output cut to fight smog - CSJ

Reuters reported that the city, in northern China’s Hebei province, has ordered more industrial plants, including rubber, plastics and paint producers, to make deep cuts in production. The curbs will last for four months, until March 2018, but the city is asking industrial plants to make temporary, steeper, cuts in production over the next three days, when smog is expected to worsen.

The city will also limit the use of trucks and tractors between Oct. 24-27.

China has been cracking down on big industrial polluters to reverse the damage done to its air, rivers and soil by more than three decades of breakneck growth.

Tangshan already ordered steel mills, cement and other plants to cut output in early October, a month earlier than expected. It is the latest city to launch a campaign to tackle toxic air before the previous deadline of Nov. 15.

The city produces nearly 100 million tonnes of crude steel a year, more than the United States, and is routinely listed among China’s 10 smoggiest cities. It vowed last month to shut ceramic and cement factories and restrict road freight activities during the heating season.

China will strive to comply fully with its own air quality standards by 2035, the country’s environment minister Li Ganjie said on Monday, adding that the long and difficult battle against pollution would eventually benefit the economy.

Source : Reuters

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voda 25 oktober 2017 17:03

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ArcelorMittal South Africa CEO to retire next year

Reuters reported that the chief executive of ArcelorMittal’s South African unit will step down in January next year

ArcelorMittal South Africa has approved Chief Executive Mr Wim de Klerk’s request to retire after less than two years at the helm.

Source : Reuters

voda 25 oktober 2017 17:06

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ArcelorMittal Tubarao choses Danieli to revamp its slab casters
Published on Wed, 25 Oct 2017

Brazilian steelmaker orders major revamping of caster #2 located in Serra, Brazil. The project includes the complete replacement of all molds, oscillators and segments with the latest design of such equipment from Danieli, renovation of worn structures and a completely new caster maintenance area.

Source : Strategic Research Institute

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Vertraagd	16 mei 2024 10:50
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Verschil	-0,030 (-0,13%)
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Volume gemiddeld	2.535.566
Volume gisteren	2.345.565

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