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voda 24 juli 2017 14:29

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'Aperam boekt iets lager resultaat'

Gepubliceerd op 24 jul 2017 om 11:13 | Views: 906

Aperam 14:08
41,91 +0,26 (+0,62%)

AMSTERDAM (AFN) - Roestvrijstaalbedrijf Aperam heeft naar verwachting in het tweede kwartaal een iets lager bedrijfsresultaat (ebitda) geboekt dan in de eerste drie maanden. Aperam had in mei een prognose uitgesproken voor een vergelijkbaar resultaat op kwartaalbasis. Woensdag nabeurs worden cijfers gemeld.

Volgens een consensus van analistenschattingen bij Bloomberg komt de ebitda uit op 166,3 miljoen dollar, tegen 171 miljoen dollar in het eerste kwartaal. De omzet is naar verwachting gestegen tot bijna 1,34 miljard dollar, van krap 1,28 miljard dollar in de voorgaande periode.

In juni kondigde Aperam aan zijn winstgevendheid structureel te willen verbeteren. Daarbij wordt voor de periode 2018 tot en met 2020 gemikt op jaarlijks 150 miljoen dollar. Dit doet het onder meer door de bedrijfsvoering te stroomlijnen waarbij het gebruik zal maken van nieuwe technologieën. Ook zet het bedrijf in op automatisering en digitalisering.

voda 24 juli 2017 14:34

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CISA wants Beijing to get tougher with Trump over possible US import curbs

South China Morning Post reported that China’s steel industry association, which represents 80 per cent of the country’s steel production, has called on Beijing to get tougher with the administration of US President Donald Trump and to threaten retaliation if Washington moves to curb Chinese steel imports. Mr Li Xinchuang, vice-president of the China Iron and Steel Association, told the South China Morning Post in a telephone interview that China should be bold in protecting the interests of its own businesses and avoid being led by the US by the nose.

He told “If Washington moves to levy additional tariffs on Chinese steel products or take restrictive measures against imports from China, China can hit back on restricting US imports of automobiles and agricultural products.”

Mr Li, who is also the president of the China Metallurgical Industry Planning and Research Institute, said Washington is adopting a steel trade policy of “discrimination” and “trade protectionism” while holding a “Cold War mindset” against Chinese products.

Mr Li said any new restrictions on Chinese steel products from the US will only hurt downstream American steel users. He told “The American steel industry has the highest salary… and product price is already among the highest worldwide. Haven’t you thought about the feelings of local users?”

His comments came a day after the first China-US economic dialogue to be held since Donald Trump took power failed to reach an agreement on trade.

Source : South China Morning Post

voda 24 juli 2017 14:37

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Ramsarup Industries moves NCLT to declare itself insolvent

Live Mint reported that in a striking reversal, a steel maker has moved the Kolkata bench of the National Company Law Tribunal on its own declaring itself as insolvent and seeking appointment of an interim resolution professional, or an administrator, and one of its key lenders is opposing it, saying the move is aimed at disrupting its efforts to recover overdue loans.

ICICI Bank is opposing the application filed by Ramsarup Industries Ltd, a maker of TMT Bars, because it has already launched the process of recovering its loans under the Securities and Reconstruction of Financial Assets and Enforcement of Security Interest (Sarfaesi) Act.

If an administrator is appointed to take control of the company’s assets and operations at this stage, he could declare a “moratorium on any action to foreclose, recover or enforce security interest” under section 14 of the Insolvency and Bankruptcy Code.

Describing the application as “fraudulent”, Siddhartha Dutta, partner, Shardul Amarchand Mangaldas and Co, submitted before the bench that his client ICICI Bank had already taken possession of several assets of Ramsarup under the Sarfaesi Act. He also alleged that the company had not provided a copy of its application to ICICI Bank and other lenders.

The company owed ICICI Bank INR 60 crore, Dutta said at the NCLT, adding that the lender had started the process of loan recovery under the Sarfaesi Act in 2015.

He also mentioned before the bench that the Central Bureau of Investigation (CBI) had launched an investigation against the company and its key officials for allegedly defrauding United Bank of India to the tune of INR 184 crore.

Source : Live Mint

voda 24 juli 2017 14:39

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ArcelorMittal South Africa predicts sharply higher H1 loss

Reuters reported that steelmaker ArcelorMittal South Africa expects first-half headline losses to increase by over 200% because of higher costs.

The company said that majority owned by ArcelorMittal, forecast a headline loss per share in a range of 143 and 152 cents for the six months ended 30 June 2017, up from a loss of 45 cents per share in the same period last year.

The company said that "Higher steel prices did not fully compensate for the higher raw material costs, namely coal and iron ore, adding that operational incidents, impairments and the strengthening of the rand against the U.S. dollar also hit its bottom line.”

It said that "In order to address these challenges the company is in the process of exploring several initiatives, including additional cost cutting interventions, assessing the profitability of various product lines and the implementation of structural changes in the next six months.”

Source : Reuters

voda 24 juli 2017 14:39

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US DoC issues affirmative final AD duty determination on steel concrete reinforcing bar from Taiwan

US Secretary of Commerce Wilbur Ross announced the affirmative final determination in this antidumping duty investigation, finding that steel concrete reinforcing bar from Taiwan is being sold in the US market at unfair prices. The Commerce Department determined that exporters from Taiwan have sold steel concrete reinforcing bar in the United States at 3.50% to 32.01% at less than fair value based on factual evidence provided by the interested parties.

The Commerce Department will instruct US Customs and Border Protection to collect cash deposits from importers of steel concrete reinforcing bar from Taiwan based on these final rates.

Secretary Ross said that “The United States can no longer sit back and watch as its essential industries like steel are destroyed by foreign companies unfairly selling their products in the U.S. markets. We will continue to take action on behalf of U.S. industry to defend American businesses, their workers, and our communities adversely impacted by unfair imports.”

In 2016, imports of steel concrete reinforcing bar from Taiwan were valued at an estimated USD 53 million.

The Rebar Trade Action Coalition filed the case with the Commerce Department on behalf of its individual members:
Byer Steel Group, Inc, Cincinnati, Ohio
Commercial Metals Co, Irving, Texas
Gerdau Armisteel US, Inc., Tampa, Fla.
Nucor Corp, Charlotte, N.C.
Steel Dynamics, Inc, Pittsboro, Ind

Enforcement of US trade law is a prime focus of the Trump administration. From January 20, 2017, through July 21, 2017, Commerce has initiated 54 antidumping and countervailing duty investigations a 40% increase from the previous year. For the same time period in 2016, Commerce had initiated 40 antidumping and countervailing duty investigations.

Antidumping laws provide US businesses and workers with an internationally accepted mechanism to seek relief from the harmful effects of dumping unfairly priced products into the United States. Commerce currently maintains 404 antidumping and countervailing duty orders which provide relief to American companies and industries impacted by unfair trade.

The US International Trade Commission is conducting an investigation to determine whether or not the domestic industry is harmed by imports of steel concrete reinforcing bar from Taiwan. The ITC is currently scheduled to make its final injury determination on or before September 5.

If the ITC makes an affirmative final injury determination, Commerce will issue an antidumping order. If the ITC makes a negative final injury determination, the investigation will be terminated and no order will be issued.

Source : Strategic Reseach Institute

voda 24 juli 2017 14:40

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Steel workers union AISWF flay PSU divestment

The Hans India reported that the two day All India steel Workers Federation council meetings were started at Ukkunagaram in Vizag. Large number of members from all the steel plants and mines across the country are attending the meetings.

Addressing the working class, President of AISWF Gaya Singh said that during the NDA government in the past three years, the public sector units have been badly affected with disinvestments. He said "The PSUs are being privatised through disinvestment and also selling at throw away prices as to get the private industrialists benefitted. In the name of NITI Aayog recommendation, the BJP government is going ahead with disinvestment in Air India, BHEL, BEML, BEL, NMDC, SAIL and many more PSUs.”

He said “The government is aiming to earn INR 56,500 crore through disinvestment in the present fiscal and already disinvested INR 22,000 crore in various PSUs.”

The steel industries in public sector have been supporting the government by paying INR 2 lakh crore on account of various taxes. However, the government has decided to sell SAIL Units Durgapur Alloy Steel plant, Salem and Bhadravathi plants. Meanwhile steel imports from various countries including China were being dumped in the country a cheaper price. With this the steel industry in the country has facing troubles.

Source : The Hans India

voda 24 juli 2017 14:40

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Nippon Steel profit seen jumping 70pct in fiscal 2017

Nikkei reported that Nippon Steel & Sumitomo Metal looks on track to log a roughly 70% surge in pretax profit in the year ending March 2018, buoyed by improved market conditions that have made price hikes possible. Pretax profit is expected to total some JPY 300 billion (USD 2.69 billion), marking the first growth in three years.

Price hikes on a wide range of products are seen adding nearly JPY 100 billion to profit this fiscal year. Nippon Steel increased prices for manufacturers by JPY 20,000 a tonne last fall on the back of higher materials costs. Steel materials prices averaged JPY 72,600 last fiscal year. With crude steel output also rising, sales are seen climbing about 20% to JPY 5.4 trillion or so this year.

Repairs to old equipment in recent years have also lifted efficiency, saving Nippon Steel more than JPY 50 billion on production costs.

Nippon Steel did not offer full-year projections when announcing its fiscal 2016 results in late April. It will likely release the fiscal 2017 outlook when announcing April-June results.

Source : Nikkei

voda 24 juli 2017 14:41

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Government scraps plan to divest MSTC’s subsidiary Ferro Scrap Nigam

PTI reported that the Prime Minister’s Office has agreed not to go ahead with the divestment of MSTC’s arm Ferro Scrap Nigam Ltd as the entity has no tangible assets barring machinery. Steel secretary Ms Aruna Sharma told PTI “We are removing Ferro Scrap Nigam Ltd, a subsidiary of MSTC, from disinvestment list because it does not have anything. No land. It just has equipment.”

She told “SAIL permits them to do the scrap sale or making its pellets as it is a PSU. So it does not make any sense for a buyer because SAIL cannot give it to a private person for conversion. So what will anybody do by taking scrap machinery. In the last meeting that I had in PMO they all agreed that it should be removed.”

The Centre had earlier said that it intends to disinvest its equity, which is equivalent to 89.85% of the total voting equity share capital in MSTC to a strategic investor along with management control of MSTC and its wholly owned subsidiary FSNL through a competitive bidding process.

FSNL, under the administrative control of the steel ministry, undertakes disposal of ferrous and non-ferrous scrap arising from integrated steel plants under Steel Authority of India, Rashtriya Ispat Nigam Ltd, etc and disposal of scrap and surplus stores from other public-sector undertakings and government departments.

Source : PTI

voda 24 juli 2017 14:42

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Iranian steel exports in 3 months up by 67% - ISPA

Iran Daily reported that Iran's raw steel exports during mid March to mid June witnessed a 67% growth compared to the figure for the same three months of last year. According to a report by Iranian Steel Producers Association, during this period, Iran exported 1.67 million tonne of raw steel whereas the figure for the same period in 2016 was 1.016 million tonne.

Of this year's total exports, 751,000 tonne pertained to billet and bloom. Last year, the figure stood at 712,000 tonne, down by five percent compared to the figure for the current year.

Slab exports during March 21-May 21, amounted to 944,000 tonne indicating a 211-percent growth against the amount for the same period of last year, which was 304,000 tonne.

In addition, exports of steel products, including iron girder, round bar and hot rolled sheet, in the same time-span in the current year, reached 300,000 tonne down 58% from the figure for the same duration of last year, which was 715,000 tonne.

In this period, round bar exports, standing at 187,000 tonne, accounted for the biggest part of Iran's overseas sales of steel products. The figure stood at 68,000 tonne in the same period last year which is 175 percent lower than the amount for the current year.

During the 93 day period of this year, overseas sales of other steel products reached 17,000 tonne, indicating a 55% growth against the figure for the corresponding period of last year.

Galvanized sheet exports amounted to 11,000 tonne, showing a 22% increase compared to the figure for the same period a year ago, which was 9,000 tonne.

In the three-month period in 2017, Iran exported 47,000 tonne of iron girder indicating no change from the figure for the same time-span a year earlier.

In this duration, Iran sold 34,000 tonne and 4,000 tonne of hot and cold roll sheets, respectively. The figures are 93% and 94% lower than last year's which were 512,000 tonne and 68,000 tonne.

Source : Iran Daily

voda 24 juli 2017 14:42

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Vietnam extends deadline for requests on anti dumping steel import tax

Biz Hub reported that Viet Nam Competition Authority under the Ministry of Industry and Trade will continue to receive requests from manufacturers, traders and others seeking to ease or lift the anti-dumping tax on imported cold-rolled stainless steel from China, Indonesia, Malaysia and Taiwan until July 31, 2017.

On September 5, 2014, the MoIT issued a decision to impose anti-dumping duties on several cold-rolled stainless steel products imported to Viet Nam from China, Indonesia, Malaysia and Taiwan. The first review was concluded on April 29, 2016.

Anti-dumping regulations enable concerned parties to request an annual review of anti-dumping duties. The request for reviews includes the scope of products being subject to duty, the applicable anti-dumping tax rates, new exporters and more.

On December 19, 2017, VCA started to get requests for a second review of the anti-dumping tax on cold-rolled stainless steel imported into Viet Nam until April 15, 2017.

In May, the MoIT issued a response to the review proposal submitted by several steel import companies and firms that sell steel to Viet Nam. The second review covers the period from May 1, 2016 to April 30, 2017.

However, during the review time, VCA continued to receive feedback from enterprises seeking to eliminate duties on some of the products subjected to tax.

Therefore, VCA informed all those involved in cold-rolled stainless steel products that they can submit their requests to VCA before August 1.

Source : Biz Hub

voda 24 juli 2017 14:44

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Peru Aceros Arequipa Q2 profit down as steel price decline

BNamericas reported that Peruvian steel producer Aceros Arequipa saw its second quarter profit plummet 68% as lower prices offset higher steel shipments. Aceros posted a 12mn sol (USD 4 million) profit in the quarter compared with a 36mn-sol profit a year earlier, the Lima-based company said in a corporate filing to securities regulator SMV. Sales climbed 7.2% to 528 million soles from S/.492million soles a year earlier.

The company said that sales costs and financial expenses both rose in Q2, while the company registered a 579,000 sol FX loss compared with a 5 million-sol FX gain a year earlier. Capex totaled 29 million soles in the quarter, mainly on upgrades at its Pisco steelworks, said the company, which also operates a plant in Arequipa.

Exports rose to 220.5 million soles in the first half from 166.5 million soles the previous year, Aceros said. Peru mainly exports steel to Colombia, Ecuador and Bolivia.

Aceros, which is controlled by the local Cilloniz Group, in 2014 completed a USD 145 million laminated steel plant in the port of Pisco to boost annual steel production to 1.35 million tonne per year. The company competes in Peru with Gerdau unit Siderperú, which operates a 520,000 tonne per year plant in the northern port of Chimbote

The company added that "The investment in the new laminated steel plant enabled us to work with cutting edge technology and achieve significant cost efficiency.”

Source : BNamericas

voda 24 juli 2017 14:45

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Illinois steel company proposes to buy land in Indiana

The Associated Press reported that an Illinois steel company looking to buy land to move its suburban Chicago plant to a northwest Indiana city has submitted a proposal to redevelopment officials.

The Gary Redevelopment Commission is expected to vote Aug. 2 on Alliance Steel Corp's USD 925,000 bid for 25 acres (10 hectares) of land, The (Northwest Indiana) Times reported. The company hopes to build a new 250,000-square-foot production facility that could produce 250,000 tons of steel annually.

Mr Andrew Gross CEO wrote in the proposal that the move would create about 100 new jobs in Gary. Another company's trucking operation would also likely relocate to Gary with Alliance's move.

Mr Joseph Van Dyk, the city's planning and redevelopment director, said the move is a natural fit for the area because it's already zoned for heavy manufacturing.

The proposal said the USD 35 million relocation would be financed through corporate cash on hand, bank financing and a combination of federal, state and local incentives. No local incentives have been awarded yet, said Bo Kemp, executive director of the Gary Economic Development Corp.

Chester Inc will build the new production facility. The company's CEO, Mr Pete Peuquet, said development could begin in October 2017. If approved, construction is expected to be completed by the end of 2018.

The bid is a response to the redevelopment commission's request for proposals for nearly 80 acres of land. The commission was looking for about USD 35,000 per acre. Alliance's bid comes in slightly above that price at USD 37,000 per acre for 25 acres.

Source : The Associated Press

Bijlage:

voda 24 juli 2017 14:46

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Khouzestan Oxin produces Wear Resistant Steel

Financial Tribune reported that Khouzestan Oxin Steel Company is producing wear resistant steel for the first time in Iran. Mr Abdolreza Mohammadpour company’s managing director was also quoted as saying that “Our estimates show that the country annually needs 60,000 tons of wear resistant plates. By supplying this amount, we can prevent the annual outflow of close to USD 130 million of foreign exchange.”

According to the official, wear-resistant plates’ price is about five times more than that of simple plates, standing at 80,000 rials per kilograms. Oxin Steel has already engaged in marketing the product both in the local market and abroad, and is currently reviewing quotes it has received. Wear-resistant steel plates generally offer good resistance to sliding and impact wear.

The high carbon content in the alloy increases its toughness, making it an ideal material for applications in the mining, woodworking and material handling industries. Specific applications include covering dump truck bottoms and sides, liners for chutes and dryers, gravel crushers, tree-cutter blades, wear plates and vibrating conveyors.

Located in the southern Khuzestan Province, Oxin is Iran’s top producer of heavy plates. It produced about 650,000 tons of steel products in the last Iranian year (March 2016-17).

Source : Financial Tribune

voda 24 juli 2017 14:47

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India can produce 300 million tonne of steel by 2030 - Experts

Business Line reported that India is capable of producing 300 million tonnes of steel by 2030, as envisaged in the National Steel Policy 2017, but many challenges have to be overcome on the path to the target, according to experts in the sector. At present, India produces 90 million tonne of steel per annum. They were speaking at the one day seminar on success and survival strategies in the steel sector organised here on Friday by the magazine, Steel and Metallurgy. Magazine editor Nirmalya Mukherjee presided over the seminar.

Mr NK Nanda, the Director (Technical) of the National Mineral Development Corporation the chief guest, said the main challenge was to keep input costs in steel production down and maintain high quality for the industry to be competitive. He said that "As far as coking coal is concerned, we have little choice as it has to be imported from other countries, but we have sufficient reserves of iron ore. But the challenge is to produce ore in a cost-effective manner and supply it to the steel industry. The landed cost of ore has to be reasonable for the industry to be competitive."

Dr AS Firoz, an economist specializing in the sector, said backward integration may not be of much use to the steel companies at present. Bad investment decisions are plaguing the sector.

Mr PL Haranadh, the Deputy Chairman of the Visakhaptnam Port, said logistics cost would have to be brought down drastically to make the steel industry competitive. He said that "For that to happen, we have to rely more on inland waterways and coastal shipping and less on the railways and roads.”

Mr SK Rai the technical director of M.N. Dastur & Co Ltd, said Visakhapatnam Steel Plant should aim at 20 million tonne per annum by 2030 from the present level of 6.3 million tonne.

Mr DN Rao the Director (Operations) of RINL, said marketing, input costs and quality control were the three key factors in steel production. The RINL had appointed 300 rural dealers to sell steel in villages.

Mr Sushim Banerjee the Director-General of the Institute for Steel Development and Growth, said creating demand for steel, especially in rural areas, was as important as capacity augmentation to reach the target by 2030.

Mr NS Rao a former director in the RINL and currently a professor of metallurgy in Andhra University said that China takes 29 months to build a blast furnace and a private company in India roughly 40 months. He said that "It has taken nearly 70 months for the RINL to build and commission the third blast furnace. We have to speed up our processes. The target of 300 million tonnes is very difficult, but not impossible.”

Source : Business Line

voda 24 juli 2017 14:49

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AK Steel increase prices for carbon steel products by USD 25

AK Steel said that it will increase current spot market base prices for all carbon flat-rolled steel products by a minimum of USD 25 per ton, effective immediately with new orders.

Source : Strategic Research Institute

voda 24 juli 2017 14:50

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Demand to build Bayyaram steel plant grows

The Hans India reported that the demand for setting up steel plant at Bayyaram has been getting intensified with the leaders of different political parties joining hands to stage protests in support of the demand.

A massive dharna followed by public meeting was held at Bayyaram mandal headquarters on Friday where the leaders demanded the state and central governments to initiate immediate measures to establish steel plant in the district.

Former MLAs K Sambasiva Rao and Gummadi Narsaiah, Congress leader J Bharath Chander Reddy, Mahila Congress leader Suchithra, B Vijay Saradhi of CPI, Vem Narender Reddy and Ch Uday Chander of TDP, S Srinivas of CPM and Bayyaram ZPTC G Ilaiah have attended the protest programe.

Speaking to presspersons on the occasion they stated that both the TRS and BJP, during the last elections, have promised to establish the steel plant at Bayyaram.

But now the parties have neglected their promise. Bayyaram which has got rich iron ore deposits and all other requirements to set up the steel plant. By establishing the plant here employment to rural youth could be ensured and the district could witness development, they opined.

Sambasiva Rao, Narsaiah, Narender Reddy and others have stated that series of intensified agitations would be staged in the days to come. If required a siege to the residence of the CM K Chandrashekar Rao would be laid, they warned.

Source : The Hans India

voda 24 juli 2017 14:54

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June 2017 crude steel production

World crude steel production for the 67 countries reporting to the World Steel Association (worldsteel) was 141.0 million tonnes (Mt) in June 2017, a 3.2% increase compared to June 2016.

World crude steel production was 836.0 Mt in the first six months of 2017, up by 4.5% compared to the same period in 2016. Asia produced 576.8 Mt of crude steel, an increase of 4.8% over the first half of 2016. The EU produced 86.1 Mt of crude steel in the first half of 2017, up by 4.1% compared to the same period of 2016.

North America’s crude steel production in the first six months of 2017 was 57.4 Mt, an increase of 2.4% compared to the first half of 2016. The C.I.S. produced 49.7 Mt of crude steel in the first six months of 2017, a decrease of -2.5% over the same months of 2016.

China’s crude steel production for June 2017 was 73.2 Mt, an increase of 5.7% compared to June 2016. Japan produced 8.4 Mt of crude steel in June 2017, a decrease of -4.3% compared to June 2016. South Korea produced 5.9 Mt of crude steel in June 2017, an increase of 7.7% compared to June 2016.

In the EU, Germany produced 3.6 Mt of crude steel in June 2017, a decrease of -1.7% compared to June 2016. Italy produced 2.1 Mt of crude steel, up by 1.8% on June 2016. France produced 1.3 Mt of crude
steel, up by 1.3% compared to June 2016. Spain produced 1.3 Mt of crude steel, up by 8.1% on June 2016.
Turkey’s crude steel production for June 2017 was 3.0 Mt, up by 7.1% on June 2016.
The US produced 6.7 Mt of crude steel in June 2017, a decrease of -1.7% compared to June 2016.
Brazil’s crude steel production for June 2017 was 2.6 Mt, up by 4.0% on June 2016.
The crude steel capacity utilisation ratio of the 67 countries in June 2017 was 73.0%. This is 1.4 percentage points higher than June 2016. Compared to May 2017, it is 1.3 percentage points higher.

Notes to Editors:
The World Steel Association (worldsteel) is one of the largest and most dynamic industry associations in the world. worldsteel members represent approximately 85% of the world's steel production, including over 160 steel producers with 9 of the 10 largest steel companies, national and regional steel industry associations, and steel research institutes.
The monthly crude steel capacity utilisation ratio is calculated based on crude steel production information available at worldsteel and OECD capacity estimates.

Voor interactieve grafieken, zie link of PDF

www.worldsteel.org/media-centre/press...

Bijlage:

voda 24 juli 2017 14:59

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China and US recognize steel overcapacity requires global solution - Minister

Xinhua reported that both China and the United States recognized that steel overcapacity is a global issue that requires a global solution. At a press briefing after the conclusion of the first China-US Comprehensive Economic Dialogue in Washington DC on Wednesday, Chinese Vice Minister of Finance Zhu Guangyao said the two sides discussed the issue of steel overcapacity during the one-day high-level economic dialogue.

He said “China shared the same view with the United States that steel overcapacity is a global issue, which requires a global collective response. China also emphasized that the excess steel capacity was a result of sluggish global economic recovery.”

Meanwhile, the Chinese delegation told the US side that China had actively taken measures to cut steel overcapacity, Zhu said, citing China's plans to reduce steel capacity by 100 million to 150 million tonnes from 2016 to 2020.

As the world's two largest economies and co-chairs of the global forum on steel excess capacity, China and the United States have maintained policy dialogue and communication regarding the steel glut, Zhu said, noting G20 leaders agreed to establish the forum at last year's Hangzhou summit.

Source : Xinhua

voda 24 juli 2017 15:00

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SAIL and ArcelorMittal auto steel JV in final stages - Steel Secretary
Published on Fri, 21 Jul 2017

PTI quoted steel secretary as saying that the INR 5,000 crore autograde steel plant in joint venture between SAIL and ArcelorMittal would be set up close to an automobile hub and final decision on the site is likely in three months. Steel Secretary Dr Aruna Sharma told PTI “It (SAIL, ArcelorMittal JV) is in the final stage now. Absolutely in the final stage.”

She told “There are two things that they (both the companies) have to do. One is commercial agreement between the two and second thing is that they have to zero in on the place where they will be putting up the plant. So that work is going on. So we are expecting it to be completed in may be in another two or three months.”

When asked about the location of the proposed plant Dr Sharma said “That decision is happening. The two of them are looking at it. They have zeroed in on three sites. So (it would be at) one of the three sites. It will be closer to an auto hub. We have three auto hubs. Both the companies were inspecting and comparing the pros and cons of each site. They have to see all pros and cons. They will prepare a matrix out of it and put a value to it and then decide which place suits them.”

Steel Authority of India and ArcelorMittal had in May, 2015 entered into a memorandum of understanding to explore the possibility of setting up an autograde steel manufacturing facility under a joint venture in India.

Source : PTI

voda 24 juli 2017 15:04

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Beursblik: Aperam voldoet vermoedelijk aan eigen verwachtingen

Analisten rekenen op vlak bedrijfsresultaat en nettoschuld.

(ABM FN-Dow Jones) Aperam heeft in het tweede kwartaal van 2017, conform de eigen verwachtingen, een stabiel bedrijfsresultaat behaald bij een gelijkgebleven nettoschuld. Dit verwachten analisten.

Aperam zelf heeft gezegd te verwachten dat het bedrijfsresultaat (EBITDA) in het tweede kwartaal vlak zal ontwikkelen ten opzichte van de eerste drie maanden van dit jaar, net als de nettoschuld. In het eerste kwartaal bedroeg het bedrijfsresultaat 171 miljoen euro. Analisten van Jefferies rekenen voor het afgelopen kwartaal op 168 miljoen dollar, terwijl Credit Suisse uitgaat van 173 miljoen dollar.

In de vergelijkbare periode in 2016 kwam het EBITDA resultaat uit op 123 miljoen dollar.

"Ondanks tegenwind in het tweede kwartaal door het uitblijven van hogere grondstofprijzen, waar onderdeel Service & Solutions van profiteerde in het eerste kwartaal, bleven de onderliggende staalactiviteiten sterk", schreven analisten van Jefferies in een vooruitblik.

De marktvorsers van de Amerikaanse zakenbank wezen er ook op dat Aperam gedurende het kwartaal voor 29 miljoen dollar aan dividend heeft uitgekeerd en voor 79 miljoen dollar aan eigen aandelen heeft ingekocht. Dit drukte op de winstgevendheid en heeft tevens het terugbrengen van de nettoschuld tegengehouden volgens Jefferies.

Jefferies stelde dat de vraag in Europa sterk is geweest, terwijl in Brazilië sprake was van aanhoudende zwakte ondanks een seizoensgebonden opleving in het tweede kwartaal.

Analisten van Credit Suisse waren iets positiever. "Het tweede kwartaal zou wederom zeer sterk moeten zijn voor Aperam, aangejaagd door aanhoudende meewind in Europa waarmee negatieve gevolgen van het uitvallen van de fabriek in Chatelet zou moeten worden opgevangen", schreef de Zwitserse bank. De analisten voegden hier aan toe dat Aperam mogelijk wordt gecompenseerd via verzekeringen voor de onderbreking in de fabriek in Chatelet, maar dat hierover informatie ontbreekt.

Outlook

Verwacht wordt dat Aperam voor de tweede helft van dit jaar op een lager bedrijfsresultaat zal rekenen vanwege de seizoensgebonden vertraging in verband met de zomermaanden.

Het aandeel Aperam noteerde maandagmiddag een half procent hoger op 41,85 euro.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

Copyright ABM Financial News. All rights reserved

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12 mrt	ArcelorMittal neemt groot belang in V...
05 mrt	Beursblik: experts vinden koerswinst ...
23 feb	Mondiale staalproductie daalt opnieuw
08 feb	ING: ArcelorMittal doet het beter dan...
08 feb	Fors verlies voor ArcelorMittal

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