Eurobench.com

voda 7 januari 2021 12:33

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India Widens DMISP Net to Promote Made in India Steel

The Indian government has amended provisions in Domestically Manufactured Iron & Steel Products widening its applicability to every project where the procurement value of iron and steel is above INR 5 lakh, against INR 25 crore earlier. The steel ministry also said that buyers must ensure that procurement is not split for the purpose of avoiding the provisions of this policy. The notification said “All central sector schemes, or centrally sponsored schemes for which procurement is made by states and local bodies, will come under the purview of this policy, if the project is fully or partly funded by the government. However, the amendment will not apply in the case of steel procurement tenders or notices inviting tenders that have already been floated by government-funded projects.

Indian Government had notified on 8th May, 2017 and subsequently revised in May, 2019 a Policy for providing preference to domestically manufactured iron & steel products in Government procurement. The policy mandates to provide preference to Domestically Manufactured iron & Steel Products with a minimum of 15%-50% value addition in Government Procurement. Each Ministry or Department of Government and all agencies under their administrative control will be under the purview of the DMI&SP order as notified by the Ministry of Steel. The policy has provisions for waivers to all such procurements, where specific grades of steel are not manufactured in the country, or the quantities as per the demand of the project cannot be met through domestic sources.

Source - Strategic Research Institute

voda 7 januari 2021 12:33

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China to Launch Emissions Trading Scheme in February

China's delayed carbon trading system will start operating in February, as the world's biggest polluter takes steps towards decarbonising its economy by 2060. Under the new rules, more than 2,200 firms that emit over 26,000 tonnes of greenhouse gases per year can start trading their emission quotas from February 1. The ETS will initially apply mainly to power plants numbering about a total of 2,225. Several refineries are also covered by the ETS. Once fully operational, the Emissions Trading Scheme will cover about a third of China's national emissions. The national ETS centre will be located in Shanghai and the registration system will be in Wuhan in Hubei province. China's nationwide system is expected to eclipse that of the European Union to become the world's largest emissions trading scheme

China’s Environment Ministry issued rules allowing provincial governments to set pollution caps for big power businesses for the first time. Firms can buy the right to pollute from others who have a lower carbon footprint, but the programme is expected to drive down overall emissions by making it more costly to do so.

Under the trial rules, the ministry will act as the national regulator and supervisor of the country's carbon trade, while provincial environmental authorities will manage quota allocations, emissions inspections and other administrative work.

China has pledged to peak emissions before 2030 and become carbon neutral 30 years later. But it pared back initial plans to curb emissions from seven other industries including aviation, steel and petrochemical manufacturing. China's greenhouse gas emissions in 2019 were estimated at 13.92 billion tonnes, about 29% of the world's total linked to global warming.

Source - Strategic Research Institute

voda 7 januari 2021 12:34

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British Steel COVID-19 Update

British Steel announced that “As COVID-19 continues to impact on people and businesses throughout the world, we remain committed to protecting our colleagues, customers, suppliers and communities. Throughout the pandemic, we’ve adhered to the latest guidance from the UK Government. The robust measures we have in place are enabling us to safeguard our people and our operations and we’ll continue to adapt our working habits as and when required. Thanks to the incredible efforts of our employees, we’re continuing to manufacture the products our customers require. Hundreds of our people, predominantly in office based roles, are working from home while many more colleagues are working on our sites to maintain safety critical operations. In true British Steel style, everybody has pulled together and we’re extremely grateful for this. We’d also like to thank our customers and suppliers for their ongoing support. While these remain incredibly challenging times for us all, both personally and professionally, we’ll get through this together and play an important role in supporting the UK’s economic recovery.”

UK Prime Minister Mr Boris Johnson announced on Monday a new national lockdown for England until at least mid-February to combat a fast-spreading new variant of the coronavirus. Mr Johnson said people must stay at home again, as they were ordered to do so in the first wave of the pandemic in March, this time because the new virus variant was spreading in a frustrating and alarming way.

What are England's new rules?

People in England must stay at home and only go out for essential reasons. Primary and secondary schools have moved to online learning for all pupils apart from vulnerable and keyworker children.

Reasons to leave home include

Work or volunteering where it is unreasonable to work from home. This includes work in someone else's home, such as that carried out by social workers, nannies, cleaners and tradespeople

Education, training, childcare, medical appointments and emergencies

Exercise outdoors (limited to once a day). You can meet one other person from another household in an open public space to exercise

Shopping for essentials such as food and medicine

Communal religious worship

Meeting your support or childcare bubble. Children can also move between separated parents

Activities related to moving house

Those who are clinically extremely vulnerable are advised to limit the time they spend outside their home. They should only go out for medical appointments, exercise, or if it is otherwise essential, but not for work or education purposes.

International travel, or travel around the UK is only permitted for essential reasons.

Hospitality businesses such as pubs and restaurants and non-essential shops have closed, as have indoor and outdoor sports facilities including gyms and tennis courts.

Essential businesses and services can stay open to the public. These include

Supermarkets, food shops, pharmacies and garden centres

Places of worship

Petrol stations and MOT services

Laundrettes

Banks and post offices

Doctors and dentists' surgeries and vets

Car parks, public toilets and playgrounds

Read England's official guidance.

Source - Strategic Research Institute

voda 7 januari 2021 12:34

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Villagers Disrupt AMNS India Bhumi Pujan for Township in Paradip

Express News Service reported that residents of Chakdradharpur village in Paradeepgarh panchayat in Paradip on January 5 disrupted the Bhumi Pujan for a proposed township, to be constructed by AMNS India. The villagers under the banner of Gramya Surakhya Committee alleged they have not been given jobs by Arcelor Mittal, which had taken over Essar Steel’s plant in Paradip in 2019. The villagers said residents of villages near the steel plant, acquired by ArcelorMittal from Essar, were given jobs in different projects and the firm must ensure jobs for them too near the township. The protestors led by Mr Sankarsan Das said they had given up their land for the project yet nothing has been done for their welfare and development of the area by the company. After they were pacified by local sarpanch Mihir Ranjan Sahoo who rushed to the spot, villagers allowed the company’s officials to go ahead with the ground breaking ceremony.

The new management had decided to increase capacity of the plant at Nuagarh panchayat and construct a township for which around eight acre land was acquired in the village.

Sahoo said a proposal for jobs to families which have given up their land for the township project has already been given to the company.

Source - Strategic Research Institute

voda 7 januari 2021 12:35

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Esfahan Steel to Export Rail Tracks to Afghanistan

Railway Technology reported that the Iranian Steel Producers Association announced that Esfahan Steel Company has signed a USD 4.3 million deal to export rail tracks to Afghanistan. The new rail tracks will be utilised for various railway development projects. Afghanistan is currently working towards the development of its railway infrastructure. Last month, the governments of Iran and Afghanistan inaugurated the first railway link, connecting the two countries for enhancing trade.

Iran started the domestic production of rail tracks six years ago after the Islamic Republic of Iran Railways RAI made an agreement with ESCO on the manufacturing of rail tracks. In November 2016, ESCO signed a deal with RAI to produce 40,000 tonnes of U33 rails and subsequently launched its rail production line. The value of the investment was around EUR 28.2 million. In June 2018, RAI received the first domestically manufactured rail tracks, called National Rail.

Source - Strategic Research Institute

voda 7 januari 2021 12:36

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Norfolk Iron & Metal Closes Acquisition of Cd'A Metals

US steel service center Norfolk Iron & Metal Co and The Coeur d'Alenes Company in the Inland Northwest, jointly announced that NIM completed the acquisition of Cd'A Metals on December 31, 2020. The acquisition complements NIM's market coverage, adding three new locations in the Northwest, and further expanding NIM's product lines and processing capabilities. The NIM family of companies now has sixteen locations stretching from New Jersey to Washington with daily deliveries to customers in thirty states.

Cd'A Metals is a full-line metal service center and supplier, headquartered in Spokane in Washington. With three locations across the Inland Northwest, the company provides bar and structural steel, plate and sheet products, as well as ornamental iron. Founded in 1884, Cd'A Metals has offered over a century of processing expertise to the metals industry and is a member of the Metal Service Center Institute and the North American Steel Alliance.

Norfolk Iron & Metal Co is a full-line steel service center headquartered in Norfolk, Nebraska. It is one of the US's largest and most technologically advanced steel providers. In 2018, NIM acquired Metalwest, a leading processor and distributor of non-ferrous and carbon flat rolled metal products. With 13 locations across the US, NIM's warehouses are stocked with more than 3,000 items including carbon steel beams, angles, channels, flat-roll sheet and coil, plate, and tubing. NIM has been a family-run business since 1908 and is a member of MSCI

Heritage Capital Group served as financial advisor, and Witherspoon Kelley provided legal services, to Cd'A Metals. Abrahams Kaslow & Cassman LLP is acting as legal counsel to NIM.

Source - Strategic Research Institute

Peter Markus 7 januari 2021 13:21

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Van harte Voda
PM

voda 7 januari 2021 13:40

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South Korea Remains Largest Steel Exporter to US in 2020

Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis data, the American Iron and Steel Institute reported that steel import permit applications for the month of December totalled 2,071,000 net tons. This was a 48.1% increase from the 1,399,000 permit tons recorded in November and a 51.2% increase from the November preliminary imports total of 1,370,000net ton. Import permit tonnage for finished steel in December was 1,326,000net ton, up 12.2% from the preliminary imports total of 1,181,000net ton in November. For the full year 2020 (including December SIMA permits and November preliminary imports), total and finished steel imports were 22,597,000 net ton and 16,125,000 net ton, down 19.1% and 23.4%, respectively, from 2019. The estimated finished steel import market share in December was 18% and is 18% for full year 2020.

Finished steel imports with large increases in December permits vs. the November preliminary imports include line pipe (up 219%), electrical sheets and strip (up 193%), oil country goods (up 158%), tin free steel (up 103%), plates in coils (up 40%), hot rolled sheets (up 33%), sheets and strip all other metallic coatings (19%), and hot rolled bars (up 17%). Products with significant increases for full year 2020 vs. 2019 include tin free steel (up 25%) and light shapes bars (up 21%).

In December, the largest finished steel import permit applications for offshore countries were for South Korea 240,000 net ton up 88% vs. November preliminary, Germany 70,000 net ton up 5%, Japan 59,000 net ton up 28%, The Netherlands 52,000 net ton up 2% and Brazil 49,000 net ton up 168%. For full year 2020, the largest offshore suppliers were South Korea 2,033,000 net ton, down 21% from 2019, Japan 770,000 net ton down 38% and Germany 729,000 net ton down 30%.

Source - Strategic Research Institute

voda 7 januari 2021 13:42

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Beursblik: UBS verhoogt koersdoel ArcelorMittal

FONDS KOERS VERSCHIL VERSCHIL % BEURS
ArcelorMittal
20,29 0,03 0,15 % Euronext Amsterdam

(ABM FN-Dow Jones) UBS heeft het koersdoel voor het aandeel ArcelorMittal verhoogd van 24,00 naar 25,00 euro met handhaving van het koopadvies. Dit bleek donderdag uit een analyse van de zakenbank.

UBS wees daarin op de stijgende trend in de ontwikkeling van de staalprijzen sinds oktober van het vorig jaar door een vraagherstel na de coronadips.

Voor 2021 heeft UBS dan ook de taxatie voor het operationeel resultaat (EBITDA) op 8,7 miljard dollar gesteld tegen een verwachte 4,1 miljard dollar in 2020.

Het staalbedrijf treedt op 11 februari met de resultaten over het vierde kwartaal naar buiten en daarvoor gaat UBS uit van een EBITDA van 1,5 miljard dollar tegen 990 miljoen dollar in het derde kwartaal.

Bij de kwartaalpublicatie geeft ArcelorMittal ook meer details over zijn dividendbeleid en UBS voorziet voor 2020 circa 0,30 dollar per aandeel en een bonus die gebaseerd is op de vrije kasstroom. Over 2021 voorziet UBS een dividend van 2,08 dollar per aandeel.

Het aandeel ArcelorMittal noteerde donderdag op een rood Damrak 0,3 procent hoger op 20,33 euro.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved.

voda 7 januari 2021 13:42

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ChTPZ Group Increases Energy Consumption Efficiency in 2020

ChTPZ Group has implemented a project to reduce the consumption of fuel and energy resources, which will reduce the company's costs of using compressed air by 3 million rubles in 2020 and subsequently by 14 million rubles annually. The project was implemented at the Pervouralsk Novotrubny Plant as part of a program to improve operational efficiency. The set of measures included a detailed audit of the current state of consumption systems and individual equipment, identification of leaks and inappropriate use of resources, the development of unique and typical solutions to optimize production processes: the use of an electric drive instead of a pneumatic drive, the use of automation to turn on and off drives of transport mechanization, exclude the supply of compressed air to disconnected equipment. The result of the project was a reduction in compressed air consumption for each ton of manufactured products by an average of 15-20%.

The ChTPZ Group is implementing a large-scale program to improve operational efficiency, one of the key areas of which is to reduce the cost of fuel and energy resources. The implementation of a set of measures aimed at optimizing costs fully meets the strategic goals of the company and contributes to maintaining its stability and competitiveness in the current market conditions.

Source - Strategic Research Institute

voda 7 januari 2021 13:43

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Mill Steel Announces Third Generation Family Ownership

One of the US's largest distributors of flat rolled carbon steel Mill Steel Co announced the successful transfer of ownership from current CEO and Chairman Mr David Samrick to President Ms Pam Heglund, granddaughter of founder Mr Harry Samrick. Ms Heglund, along with the current executive team and fellow owners Joe Poot, Rob Vella, and Marc Rabitoy will carry the Samrick Family legacy of exemplary service and people first culture. As Chairman, Ms Heglund will continue to direct the executive leadership team of Carl Quenneville SVP & CCO, Joe Poot SVP Purchasing, Rob Vella VP Operations and Marc Rabitoy CFO, along with the nearly 400 associates who provide industry leading customer service to over 1,000 customers monthly.

Founded in 1959 by Harry Samrick, Mill Steel Co is one of North America's premier flat-rolled steel suppliers. Headquartered in Grand Rapids in Michigan, Mill Steel operates five service center locations including Grand Rapids and Melvindale in Minchigan, Jeffersonville in Indiana, Birmingham in Alabama and Houston in Texas.

Source - Strategic Research Institute

voda 7 januari 2021 13:53

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Algoma Steel 3 Contract Workers Test Positive for COVID-19

Local media reported that Algoma Steel in Sault Ste Marie in Canada has confirmed that three contract workers who were on site the last week of December have tested positive for COVID-19. Algoma Steel's spokesperson Ms Brenda Stenta informed media that “I am able to confirm that we have received notice of three contract workers who were on site the last week of December, who have since tested positive for COVID-19. All of the necessary cleaning and disinfection has occurred and the workers are self-isolating and Algoma Steel has stated all necessary sanitation has occurred. Since the outset of the pandemic, we have implemented extensive COVID safety protocols in accordance with Algoma Public Health directives and we audit daily to ensure compliance. Algoma Public Health's contact tracing has not identified anyone at the steel plant who had close contact on the job.”

United Steel Workers Local 2251 President Mr Mike Da Prat said “We’ve been concerned about the COVID finding its way into Algoma for a year now. I was assured that all the proper protocols were observed. They were taken off property and I informed our union health and safety committee to make sure that they went and checked the area to ensure all the protocols were observed. The contractors who tested positive for COVID-19 were not from outside Sault Ste Marie. Right now, I think our greatest fear and our greatest threat is from outside Sault Ste Marie and that’s having contractors brought in. Whether it’s specialized work or not, we think it should be deferred until such time as either the COVID is over, or everyone has been inoculated.”

Source - Strategic Research Institute

voda 7 januari 2021 13:54

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Government Targeting to Divest SAIL SSP & VISL by March 2021

Mint recently reported that India’s finance ministry is hopeful of completing the strategic sale of SAIL’s Salem Steel Plant and Bhadravati based Visvesvaraya Iron and Steel Plant in this fiscal through March. An official said “Alternative mechanism for disinvestment headed by home minister Mr Amit Shah has cleared the business transfer agreement of SAIL’s plants that will be shared with qualified bidders and their comments will be sought. In this case, the financial bids may come before March, but security clearance, competition commission clearance may take some time depending on who qualifies. We are still hopeful of the transaction getting completed in FY21. We are keeping our fingers crossed. The sale proceeds will instead go directly to the state-run steelmaker as the two plants are its subsidiaries.”

Department of Investment and Public Asset Management is handling the disinvestment process and had sought expressions of interest in the sale of the two plants on 4 July 2019. It had appointed SBI Capital Markets Ltd as the transaction adviser following an in-principle approval from the Cabinet Committee on Economic Affairs for strategic disinvestment of several state-run companies.

Source - Strategic Research Institute

voda 7 januari 2021 13:55

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Turkish Steel Exports to Azerbaijan in 11 Months Shrink by 17%

Trend reported that steel exports from Turkey to Azerbaijan in January - November 2020 dropped by 17% YoY to USD 90 million. Turkish Trade Ministry told Trend “In November 2020, Turkey's steel exports to Azerbaijan decreased by 6.9% YoY compared to November 2019 and amounted to USD 9.92 million.”

According to the trade ministry, steel exports from Turkey to world markets over the first eleven months of 2020 decreased by 11% compared to the same period of 2019, amounting to USD 11.3 billion. Turkey exported USD 1.22 billion worth of steel to international markets in November 2020, up 24% YoY compared to the same November 2019.

Source - Strategic Research Institute

voda 7 januari 2021 13:55

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US Treasury Sanctions Several Firms in Iran’s Steel Sector

US Department of the Treasury’s Office of Foreign Assets Control designated a China based supplier of graphite electrodes, a key element in steel production, as well as twelve Iranian producers of steel and other metals products and three foreign based sales agents of a major Iranian metals and mining holding company. The Iranian metals sector is an important revenue source for the Iranian regime, generating wealth for its corrupt leaders and financing a range of nefarious activities, including the proliferation of weapons of mass destruction and their means of delivery, support for foreign terrorist groups, and a variety of human rights abuses, at home and abroad. This action was taken pursuant to Executive Order 13871, which imposes sanctions on several sectors of the Iranian economy, including Iran’s steel sector, that continue to generate significant revenue for the Iranian regime. Secretary Steven T Mnuchin said “The Trump Administration remains committed to denying revenue flowing to the Iranian regime as it continues to sponsor terrorist groups, support oppressive regimes, and seek weapons of mass destruction.”

Chinese company Kaifeng Pingmei New Carbon Materials Technology Co Ltd specializes in the manufacture of carbon materials, key elements in steel production. Between December 2019 and June 2020, KFCC fulfilled orders totalling thousands of metric tons of materials for several Iranian steel companies. In mid-2020, KFCC, working with an Iranian trading firm, sold 300 metric tons of graphite electrodes and miscellaneous equipment to Pasargad Steel Complex in Iran.

OFAC is designating 12 Iranian steel manufacturers or holding companies, whose combined annual output capacity reaches millions of metric tons of steel product.

The Pasargad Steel Complex is an Iranian steel manufacturer, operating a complex capable of producing 1.5 million tons of steel billets per year. The Gilan Steel Complex Company maintains a hot rolling mill with a 2.5-million-ton capacity and a cold rolling mill with an annual capacity of 500,000 tons.

Iran-based Middle East Mines and Mineral Industries Development Holding Company, a metals and mining holding company that includes steelmakers Sirjan Iranian Steel and Zarand Iranian Steel Company, has a collective production capacity of over 19 million tons of steel, iron, and copper products. MIDHCO encompasses seventeen subsidiaries, including fully owned companies in Germany, China, and the United Kingdom. MIDHCO’s Germany-based subsidiary GMI Projects Hamburg GmbH paid foreign companies for procurement of parts and machinery on behalf of Sirjan Iranian Steel and Zarand Iranian Steel Company. MIDHCO’s China-based subsidiary World Mining Industry Co Ltd seeks to develop business relationships with Chinese suppliers in the industry. MIDHCO is being designated for owning, controlling, or operating Sirjan Iranian Steel and Zarand Iranian Steel Company, entities that are part of the steel sector of Iran. GMI Projects Hamburg GmbH, World Mining Industry Co Ltd, and UK based GMI Projects Ltd are being designated for being owned or controlled by MIDHCO.

OFAC is also designating Iranian steelmakers Khazar Steel Co, Vian Steel Complex, South Rouhina Steel Complex, Yazd Industrial Constructional Steel Rolling Mill, West Alborz Steel Complex, Esfarayen Industrial Complex, Bonab Steel Industry Complex, Sirjan Iranian Steel, and Zarand Iranian Steel Company pursuant to E.O. 13871 for operating in the steel sector of Iran.

Concurrent with this action, the State Department is sanctioning KFCC and the Islamic Republic of Iran Shipping Lines subsidiary Hafez Darya Arya Shipping Company for having knowingly sold, supplied, or transferred, directly or indirectly, graphite to or from Iran, and such graphite was sold, supplied, or transferred to or from an Iranian person on the SDN List. The State Department is also sanctioning Majid Sajdeh, a principal executive officer of Hafez Darya Arya Shipping Company

Sanctions Implications - All property and interests in property of these persons that are in the United States or in the possession or control of US persons must be blocked and reported to OFAC. OFAC’s regulations generally prohibit all dealings by US persons or within (or transiting) the United States that involve any property or interests in property of blocked or designated persons.

In addition, persons that engage in certain transactions with the persons designated by OFAC may themselves be exposed to sanctions. Furthermore, any foreign financial institution that knowingly conducts or facilitates a significant transaction for or on behalf of the persons designated by OFAC today could be subject to US correspondent or payable-through account sanctions.

Source - Strategic Research Institute

voda 8 januari 2021 15:43

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COVID Hits Logistics in Chinese Steel Making Hub Hebei Province

South China Morning Post reported that latest coronavirus outbreak in the northern steelmaking hub of Hebei Province has triggered curbs on transport, including truck deliveries of steel. Shanghai based data Analytics Company Fubao Information in a research note said “Larger steel mills are still operating. There would be disruptions in the logistics supporting production and delivery of finished products, because Hebei has closed major highways leading into Shijiazhuang, where some of the province’s major steel factories are located. Demand for steel, which shot up earlier this year as a result of strong infrastructure and property investment in China, is also expected to ease in the coming weeks, as the cold snap in the nation’s north and the upcoming Lunar New Year holiday in February slow construction activity.”

Fubao Information added that “As Hebei enters a state of war with the coronavirus, together with a deep plunge in the temperature, the steel demand cannot be wholly met. But given the already high prices of steel and production, downstream demand is relatively weak, so there is no major driver to support a price jump. In the short term, the market will be in a state of shock and will correct.”

Hebei reported 51 new locally transmitted coronavirus infections and 69 asymptomatic cases on Wednesday, after 63 infections were reported on Tuesday. Among the 51 new infections, 50 were recorded in Shijiazhuang, the capital city of Hebei, and one case was in Xingtai, a neighbouring city.

Source - Strategic Research Institute

voda 8 januari 2021 15:44

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EU Imposes Provisional Anti-Dumping Duty on HR Imports from Turkey

The European Commission has introduced anti-dumping duties on imports of some Turkish iron and steel products. The provisional duties, ranging 4.8-7.6% of import value, will be imposed on hot rolled flat products of iron, non-alloy or other alloy steel originating from Turkey. The duties will apply for six months, by which point the investigation should have concluded. The EU will collect these provisional taxes if its investigation confirms dumping. The European Commission said “Provisional measures should be imposed to prevent further injury being caused to the union industry by the dumped imports.”

Habas Sinai Ve Tibbi Gazlar Istihsal Endustrisi AS – 4.8%

Erdemir Group (Eregli Demir and Isdemir) – 5.4%

Agir Haddecilik AS - 5.9%

Borcelik Celik Sanayii Ticaret AS – 5.9%

Colakoglu Metalurji AS – 7.6%

All other companies - 7.6%

The EU opened an investigation into whether Turkey was dumping hot-rolled flat steel products in May, responding to complaints from the European Steel Association. Turkey is among the leading exporters of finished steel products to Europe. In December, the commission informed relevant companies that the probe found that dumping had occurred.

Turkish Steel Producers Association TCUD head Mr Veysel Yayan told media that the Turkish firms affected by the duties will appeal against the decision individually.

Source - Strategic Research Institute

voda 8 januari 2021 15:45

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CORSMA Urges PMO Intervention to Curb HR Price Surge in India

Cold Rolled Steel Manufacturers Association of India has urged Prime Minister’s Office to revert import duty on HR Coil back to 5% and temporary ban or imposing export duty on HR Coil for the period of six months only. CORSMA Executive Director Mr NK Sood wrote to Prime Minister’s Principal Secretary Dr Pramod Kumar Misra “The primary producers have abnormally hiked the HR Coil prices to the extent of 52% during the period July 2020 to date from the level of INR 36,500 to INR 55-56000 per tonne in spite of fact that the most of them have their own iron ore captive mines and are not affected by the global prices. As such, the increase in the domestic iron ore prices does not warrant the abnormal increase in steel prices. On the other hand, Coking coal prices have come down from the level of 115-116 USD PMT FOB Australia to 95-96 USD PMT FOB Australia on date (January 2021). The price of HR Coil is considered as the bench mark price for determining the price of all the downstream flat rolled and tubular products and as such the consequent steel demand from manufacturing sector. The viability of infrastructure sector is largely based on the price of HR Coil.”

He wrote “HR Coil is being produced by only 4-5 major producers and thus through cartel have the advantage of fixing prices of HR Coil owing to oligopolistic market and no competition from imports owing to number of protection measures like DMI & SP policy giving preference to domestically manufactured steel products, non-tariff measures like introduction of quality control order apart from the policy on steel import monitoring system.”

He wrote “It is observed that the primary producers are working towards profiteering as JSW Steel’s Profit Before Tax in July-September 2020 quarter surged by 264% YoY & 2005% to 2505 crores as compared to pre pandemic January-March 2020 quarter, Tata Steel’s Profit Before Tax in July-September 2020 quarter surged by 405% YoY & 221% to 2278 crores as compared to pre pandemic January-March 2020 quarter and Tata Steel BSL’s Profit Before Tax in July-September 2020 quarter surged by 240% YoY & 5600% to 342 crores as compared to pre pandemic January-March 2020 quarter.”

Mr Sood added “It is also observed that an artificial scarcity of HR Coil is being created by exporting HR Coil which is to the extent of almost 20% of the gross production of HR Coil during the period April to November 2020.”

He urged the government “Keeping the above in view and in the overall interest of the downstream industry, manufacturing industry and infrastructure sector, to revert import duty on HR Coil back to 5% and consider a temporary ban or imposing export duty on HR Coil for the period of six months only.”

Cold Rolled Steel Manufacturers Association of India represents the secondary & non integrated producers of cold rolled products in India with an annual production capacity of over 6million tonnes of cold rolled, galvanised, colour coated, tin plates and electrical steel.

Source - Strategic Research Institute

voda 8 januari 2021 15:45

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JSW Steel Capacity Utilization Improves to 91% in Oct-Dec Quarter

JSW Steel produced 4.08 million tonne of crude steel in October-December 2020 quarter, up by 2% YoY as compared to 4.02 million tonne in October-December 2019 quarter and up 6% QoQ from 3.85 million tonne in July-September 2020 quarter. JSW Steel produced 2.98 million tonnes of flat rolled products, up by 4% YoY and 930,000 tonne of long rolled products, up by 4% YoY. The company said its average capacity utilisation improved from 86% in July-September quarter to 91% in October-December 2020.

In the first nine months of the financial year 2020-21, JSW Steel’s crude steel production totalled 10.89 million tonne, down by 10% YoY. Its flat steel production came to 7.88 million tonne, down by 7% YoY and long steel production totalled to 2.16 million tonnes, down by 22% YoY.

Source - Strategic Research Institute

voda 8 januari 2021 15:55

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Steel Demand in ASEAN-6 in H1 of 2020 Shrinks by 16% YoY

The South East Asia Iron and Steel Institute announced that apparent steel demand in ASEAN-6 Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam registered a double digit decline of 15.7% YoY in the first half of 2020. However, production showed only a single digit decline of 4% YoY, to 20.7 million tonnes in the same period. SEAISI said “This could be the impact of covid-19 pandemic and partly to export in some countries. Export saw a significant increase of 1.3 million tonnes to 9.3 million tonnes in the first half of 2020. In the meantime, import dropped 13.6% YoY to 21.7 million tonnes in the same period.”

Flat steel demand saw a double digit decrease of 15% YoY to 17.3 million tonnes, a decline of more than 3 million tonnes region wide. Long steel demand contacted by 1.5 million tonnes to 17.3 million tonnes in the same period. Flat steel production dropped nearly a million tonnes to 5.5 million tonnes in the first half of 2020. Import dipped by 2.5 million tonnes to 16.5 million tonnes. Export reduced 6% YoY to 4.6 million tonnes.

Long steel demand declined 16.5% YoY to 15.7 million tonnes. Domestic production remained unchanged at 15.2 million tonnes in the first half of 2020. Import dropped 1 million tonnes to 5.2 million tonnes in the first half of 2020. Export at 4.7 million tonnes was an increase of more than 2 million tonnes in the same period of 2020.

Indonesia’s apparent steel demand declined by 18.5% YoY to 5.8 million tonnes as flat & long steel demand dropped by 20% YoY and 16.4% YoY respectively

Malaysia’s apparent steel demand dropped by 43% YoY to 2.7 million tonnes in the first half of 2020

Philippines apparent steel demand dipped by 900,000 tonnes to 4.1 million tonnes in the first six months of 2020

Singapore’s apparent steel demand declined slightly, at 2.5% YoY to 1.15 million tonnes in the first half of 2020. This was mainly the result from a double-digit decrease in flat steel demand to 355,016 tonnes.

Apparent steel demand in Thailand dropped 13.7% YoY to 8 million tonnes. Both flat and long steel demand registered double digit decrease rates of 14.3% YoY and 12.6% YoY respectively.

Apart from Singapore, Vietnam is one of the ASEAN-6 countries that experienced a single digit decreasing rate of steel demand, at 5% YoY. The total demand dropped around 600,000 tonnes to 11.2 million tonnes. Flat steel demand declined 7.8% YoY to 5.6 million tonnes. Long steel demand dipped slightly, by 1.9% YoY to 5.6 million tonnes.

Source - Strategic Research Institute

Vertraagd	26 apr 2024 17:37
Koers	23,750
Verschil	+0,210 (+0,89%)
Hoog	24,080
Laag	23,700
Volume	2.295.626
Volume gemiddeld	2.481.401
Volume gisteren	2.802.569

23 apr	Mondiale staalproductie daalt toch weer
16 apr	Deutsche Bank haalt ArcelorMittal van...	1
12 apr	Video: cyclische aandelen bieden kansen
09 apr	World Steel Organisation ziet vraag n...
22 mrt	Mondiale staalproductie in de lift
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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