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voda 19 december 2023 17:26

0

Top News
Steel of a deal

In an industry-shaking transaction announced just before WSB was published on Monday, Nippon Steel (OTCPK:NPSCY) of Japan agreed to acquire U.S. Steel (NYSE:X) for a whopping $14.9B. The all-cash transaction at $55.00 per share represented a 40% premium to the closing price of U.S. Steel (X) on Dec. 15, and sent the stock up 26% during the session to close at $49.59. Deep-pocketed Nippon hopes the acquisition will expand its global footprint at a time when many Japanese firms are looking for international growth as their country deals with a shrinking population crisis. Recall that the steel industry has also been in focus following the approval of the Infrastructure Investment and Jobs Act, which is expected to boost U.S. steel demand for investment in bridges, railways and other projects due to "Buy American" provisions in the legislation.

Money talks: A bidding war for U.S. Steel ensued in the summer after the company rejected an unsolicited $7.3B cash-and-stock bid from rival Cleveland-Cliffs (NYSE:CLF). To note, that deal was less than half of what Nippon would pay for the company only four months later. U.S. Steel (X) would go on to announce a strategic review process and invited several more offers, including those that were reportedly made by ArcelorMittal (NYSE:MT) and U.S.-based Nucor (NYSE:NUE).

It's not without controversy. Having a 122-year-old iconic American steel giant be taken over by a Japanese producer is prompting unions and politicians to speak up. The United Steelworkers are urging regulators to "fully scrutinize" the transaction and determine if the combination "serves the national security interests of the United States and benefits workers."

A number of Senators are also voicing opposition, like Pennsylvania's John Fetterman, who represents one of the most important states involved in the American steel industry. "It's absolutely outrageous," he declared. "Steel is always about security - both our national security and the economic security of our steel communities. I am committed to doing anything I can do, using my platform and my position, to block this foreign sale." Fellow Democratic Senator Bob Casey of Pennsylvania has also expressed his disapproval, as well as Republican Senator J. D. Vance of Ohio, showing some bipartisan support against the foreign takeover.

SA commentary: "The management teams at both firms believe that there will not be any major regulatory issues at play. Obviously, this is something we will have to watch," wrote SA Investing Group Leader Daniel Jones, who gave U.S. Steel (X) a Strong Buy rating just days before the big buyout. "Even if the deal were to fall through, I think there is a decent chance that another buyer could step in and pick up United States Steel at a price that is high enough to result in little to no downside from where the stock currently is trading for." (11 comments)

Via email, geen link.

03har 20 december 2023 03:41

1

Mexico’s Canacero urges US government to cooperate on steel trade between the countries
Monday, 18 December 2023 22:36:34 (GMT+3) | San Diego

Blocking the entry of Mexican steel into the US market will harm the steel industry of both countries, according to the National Chamber of the Iron and Steel Industry (Canacero), which urged Mexico’s Congress and the US government to work together to strengthen the regional market.

"The application of protectionist measures against Mexico will not solve the problem of these companies, but on the contrary, it can generate a closure of our borders and a true distortion, shortage and loss of competitiveness of the steel market in the region," Canacero reported in a press release in response to the push by congressmen who ask Joe Biden's government to block free trade in Mexican steel.

"Canacero considers it essential that both countries continue working together to strengthen the region within the framework of the USMCA. This would allow us to strengthen nearshoring trends, the investments made by both countries in recent years, in addition to combating global excess capacity," the association said.

03har 20 december 2023 03:43

1

EU sets quota for pig iron imports from Russia, extends slab import quota period
Tuesday, 19 December 2023 10:27:16 (GMT+3) | Istanbul

The European Council has announced that it has adopted a 12th package of sanctions against Russia to combat sanctions circumvention and close loopholes.

The EU has accordingly restricted imports of pig iron with quotas for two separate periods, while market participants were expecting an import ban. Imports of pig iron between December 19, 2023, and December 31, 2024, will be restricted to a quota of 1.14 million mt, and with a quota of 700,000 mt for the period from January 1, 2025, and December 31, 2025. The EU has deferred the ban on imports of pig iron from Russia to 2026, SteelOrbis understands. Direct reduced iron imports from Russia will be subject to quotas of 1.14 million mt and 651,906 mt for the given periods, respectively.

In addition, the quotas for ex-Russia slab imports has been extended for another four years, as expected. The EU has set a total 8.5 million mt quota for slab imports from October 2024 until the end of September 2028, and a total 426,321 mt quota for semi-finished products of alloy steel other than stainless (HS code 7224 90) for the same period. The issue had been actively lobbied by NLMK Belgium, subsidiary of Russia-based NLMK Group, as SteelOrbis previously reported. At the same time, imports of square billet containing weight of less than 0.25 percent of carbon (HS 7207 11) will be banned from April 2024, similar to the previously announced measures.

voda 20 december 2023 06:19

1

Beursupdate: AEX op Wall Street

Door ABM Financial News op dinsdag 19 december 2023
Views: 2.691

(ABM FN-Dow Jones) Op Wall Street zijn dinsdag vijf van de acht AEX-genoteerde fondsen ten opzichte van het slot in Amsterdam lager gesloten.

Aegon (-0,21%)
ArcelorMittal (+0,76%)
ASML (+0,26%)
ING Groep (+0,38%)
Philips (-0,41%)
RELX (-0,48%)
Royal Dutch Shell (-0,27%)
Unilever (-0,06%)

Euro/dollar: 1,0975

Op basis van de bovenstaande koersuitslagen zou de AEX index, die sloot op 792,48 punten, zijn geëindigd op 792,59 punten.

Bron: ABM Financial News

mvliex 1 20 december 2023 08:59

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Dank je vroege vo(da)gel!
;-))

mvliex 1 20 december 2023 12:31

1

mailchi.mp/b3521b58d8f6/staaljournaal...

christo1 20 december 2023 15:10

0

quote:
03har schreef op 20 december 2023 03:41:
Mexico’s Canacero urges US government to cooperate on steel trade between the countries
Monday, 18 December 2023 22:36:34 (GMT+3) | San Diego

Blocking the entry of Mexican steel into the US market will harm the steel industry of both countries, according to the National Chamber of the Iron and Steel Industry (Canacero), which urged Mexico’s Congress and the US government to work together to strengthen the regional market.

"The application of protectionist measures against Mexico will not solve the problem of these companies, but on the contrary, it can generate a closure of our borders and a true distortion, shortage and loss of competitiveness of the steel market in the region," Canacero reported in a press release in response to the push by congressmen who ask Joe Biden's government to block free trade in Mexican steel.

"Canacero considers it essential that both countries continue working together to strengthen the region within the framework of the USMCA. This would allow us to strengthen nearshoring trends, the investments made by both countries in recent years, in addition to combating global excess capacity," the association said.

Hoop dat er geen tarieven worden opgetrokken tegen Mexico, want dat zou wel eens tegenwind betekenen voor arcelormittal.

Misschien daarom dat Nippon steel US steel heeft overgenomen omdat Nippon steel verwacht dat de VS staalmarkt gesloten wordt voor andere landen, zou me sterk verbazen mocht de VS het USCMA akkoord zomaar overboord gooien, maat je weet nooit.

Mvg.

03har 20 december 2023 16:16

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@christo,

Dit zijn eigenlijk vreemde maatregelen.
Amerika gaat heffingen instellen voor staal, wat hij zelf niet maakt.
Amerika heeft onvoldoende capaciteit, dus moeten de gebruikers, automotive industrie in de USA, meer betalen dan collega automakers in Mexico.
Lijkt niet erg handig, blijkt ook vanuit het verleden.
Verder blijkt dat als het zeer gaat doen, heffingen worden losgelaten.
Zie de vorige post over staal uit Rusland naar Europa.
Ook Europa mag heffing vrij exporteren naar de USA, mits het vloeibaar staal was in Europa.,
Maar het USMCA akkoord is van toepassing en de Canacero zal voldoende tegen sputteren.

03haR

christo1 20 december 2023 18:40

0

quote:
03har schreef op 20 december 2023 16:16:
@christo,

Dit zijn eigenlijk vreemde maatregelen.
Amerika gaat heffingen instellen voor staal, wat hij zelf niet maakt.
Amerika heeft onvoldoende capaciteit, dus moeten de gebruikers, automotive industrie in de USA, meer betalen dan collega automakers in Mexico.
Lijkt niet erg handig, blijkt ook vanuit het verleden.
Verder blijkt dat als het zeer gaat doen, heffingen worden losgelaten.
Zie de vorige post over staal uit Rusland naar Europa.
Ook Europa mag heffing vrij exporteren naar de USA, mits het vloeibaar staal was in Europa.,
Maar het USMCA akkoord is van toepassing en de Canacero zal voldoende tegen sputteren.

03haR

Bedankt voor de uiteenzetting.

Mvg,
Christo.

christo1 20 december 2023 19:05

0

03har,
Heb een vraagje ivm Ilva, je bent blijkbaar goed op de hoogte lijkt me ivm het staal gebeuren.

Nu mijn vraag:
Kunnen de slabs van CSP Brazilië op termijn iets betekenen voor Ilva of hun bekledingslijnen en in hoeverre is arcelormittal nog eigenaar van Ilva of hun bekledingslijnen.

Alvast bedankt.

03har 21 december 2023 06:47

1

@Christo,
Acciaierie d’Italia de holding van ex ILVA is voor 38% eigendom van de staat en de resterende 62% is in het bezit van Arcelor. De bedoeling is deze verhouding 32/68 om te draaien waardoor de Staat 62% krijgt en Arcelor 32%, dit tegen een bedrag van dacht ik 600 miljoen. Wel onder voorwaarden (die tot op heden niet zijn ingewilligd).
Bij niet nakomen van de voorwaarden kan de gehele koop overeenkomst worden ontbonden !
Deadline was mei verlopen doch is verlengd naar eind december.
Vandaar de grote onrust op dit moment in Pulia/Taranto.
Laatste berichten wijzen erop dat de vakbonden en de regio Pulia het liefst zouden zien dat de overheid geheel ex. ilva zou overnemen.
Er is namelijk geen cash, Arcelor investeert niet, heeft te maken met de lease/eigendoms constructie.

De huidige productie is dacht ik > 3 MTA, hetgeen m.i. samen met de hulp van Fosse sur mer toereikend is voor de koudwalsen en bekleding lijnen.
Ik denk niet dat Brazilië/CSP veel capaciteit over heeft om Italie te ondersteunen. Bovendien is er in Europa m.i. voldoende (zwarte/WGB) capaciteit over gezien het aantal hoogovens welke ‘ldle’ staan.

03haR

voda 21 december 2023 07:30

1

Trailblazing €35 Million Bio-coal Plant
By Strategic Research Institute on Dec 21, 2023 11:20 am

Synopsis:

ArcelorMittal Belgium pioneers the Torero plant, converting waste wood to bio-coal for their Gent steelmaking site, aiming to cut 112,500 metric tons of CO2 annually. Bio-coal usage in blast furnaces will generate bio-gas for ethanol production at the Steelanol facility, furthering Europe's carbon capture and utilization endeavors.

Article:

In a groundbreaking move, ArcelorMittal Belgium inaugurates its €35 million Torero plant, a pioneering venture in the European steel industry. This innovative facility specializes in converting waste wood into bio-coal, a pivotal step in reducing carbon emissions at the Gent steelmaking site.

The Torero plant's successful production of bio-coal, achieved through the torrefaction process, marked a milestone as it was utilized in a blast furnace at Gent on December 18. This strategic initiative aims to curtail annual carbon emissions by an impressive 112,500 metric tons, slashing the dependence on fossil coal in the furnace. The industrial-scale Torero demonstration plant is slated to convert 88,000 metric tons of waste wood into 37,500 metric tons of bio-coal annually.

The utilization of bio-coal in the blast furnace process is projected to yield bio-gas, a byproduct that undergoes capture and transformation into ethanol at ArcelorMittal Gent's Steelanol facility. This noteworthy initiative stands as Europe's inaugural carbon capture and utilization (CCU) project. Recent industrial-scale ethanol production commencement at the Steelanol plant marks a significant stride towards the facility's full operation. This ethanol serves as a fundamental ingredient in manufacturing diverse chemical products spanning transport fuels, paints, plastics, clothing, and perfumes, contributing to the chemical sector's decarbonization initiatives.

The Torero project, a recipient of European Union funding from the Horizon 2020 research and Innovation Framework Program, boasts a comprehensive consortium involving various stakeholders. From industry giants like ArcelorMittal to esteemed research entities such as Joanneum Research, University of Graz, and Chalmers Technical University, to technology developers like Perpetual Next (formerly TorrCoal), the collaboration spans the entire value chain.

The construction phase, commencing in 2018, generated 70 external employee positions. Furthermore, the Torero plant's operational phase is set to create 16 new permanent direct jobs at ArcelorMittal Belgium.

ArcelorMittal Europe's ambitious goals include a 35% reduction in CO2 emissions by 2030 and achieving carbon neutrality by 2050.

Conclusion:

ArcelorMittal's innovative Torero plant, a game-changer in the European steel industry, promises significant strides in carbon emission reduction. The successful conversion of waste wood to bio-coal not only curbs CO2 emissions but also feeds into a pioneering carbon capture and utilization project, aligning with Europe's broader sustainability goals.

Bron Steelguru (via email)

03har 21 december 2023 07:40

2

Nog even een kleine toelichting op de never ending ILVA story.

Ex. ILVA
Het strafhof in Den Haag heeft Ilva destijds onteigend (was eigendom van de fam. Riva) en het beheer en de geblokkeerde tegoeden overgedragen aan de Italiaanse overheid..
De Italiaanse overheid heeft met Arcelor een overeenkomst gesloten met deadlines die diverse malen zijn uitgesteld. Huidige deadline is komende week 29 december.
Arcelor leased Ilva van de Italiaanse overheid en betaald de huur met de productie opbrengst. Investeringen worden gedaan via overheids bijdragen en uit het geblokkeerde familie kapitaal van fam Riva.
Arcelor weigert om geld te investeren uit eigen zak. Gevolg is dat het bedrijf nu is opgezadeld met een schuld van 1,5 miljard. Schulden aan onderhouds firma maar vooral ook energie schulden.
Arcelor houdt voet bij stuk terwijl de Italiaanse overheid voor het blok staat, de invloed van Ilva op de economie, zeker in Puglia is maximaal. Falliet laten gaan is een economische ramp zeker voor het industrie arme zuiden. De bonden willen graag dat Arcelor buitenspel wordt gezet en de overheid het gehele bezit over neemt.Arcelor heeft zich redelijk ingedekt door absolute voorwaarden te eisen die een ontbinding van de koop overeenkomst mogelijk maakt.
29 december is de deadline, maar zal wel weer een uitstel betekenen. Zo niet dan krijgt Arcelor eindelijk duidelijkheid, of niet !

03haR

voda 21 december 2023 09:11

1

ArcelorMittal raises European HRC offers further, transactions lag
ArcelorMittal is further increasing its hot rolled coil offers across Europe, market sources tell Kallanish.

Since the beginning of November, the steelmaker has applied a series of increases to its official HRC quotes, as a consequence of recovering international prices, firmer raw materials costs and better order book visibility going into 2024.

This week, sources in the market are reporting that the mill is offering HRC to the German market at €750/tonne ($823) ex-works. In the Italian market, offers are at €740/t ex-works. These latest offer levels indicate an increase of some €20-30/t from the previous levels heard at the beginning of December, and a hike in excess of €100/t since the uptrend began at the end of October.

According to Kallanish price series, HRC spot prices in northern Europe reached €620/t ex-works at the end of October, their lowest level since the end of 2020. Since then, transactions have recovered some €60/t. More increases are expected to be confirmed by new transactions in the coming weeks.

Natalia Capra | France , Emanuele Norsa | Italy

www.kallanish.com/en/news/steel/marke...

voda 21 december 2023 10:45

2

Mondiale staalproductie blijft stijgen
21-dec-2023 10:44

Met ruim 3 procent in november.

(ABM FN-Dow Jones) De mondiale staalproductie is in november verder gestegen. Dit bleek donderdag uit cijfers van brancheorganisatie World Steel Association.

In totaal vervaardigden de 71 staalproducerende landen vorige maand 145,5 miljoen ton staal, wat 3,3 procent meer was op jaarbasis, na een productiestijging van 0,6 procent in oktober en een productiekrimp in september.

In China, wereldwijd met afstand de grootste fabrikant van staal, steeg de productie in november met 0,4 procent naar 76,1 miljoen ton. In oktober daalde de productie nog.

In Duitsland daalde de productie met 2,4 procent.

In de VS steeg de productie met 6,1 procent en India met 11,4 procent. Japan boekte een daling van 0,9 procent, terwijl in Rusland een productiestijging van 12,5 procent werd gerealiseerd.

In de Europese Unie was er een stijging van 3,2 procent.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

mvliex 1 21 december 2023 10:51

2

In accordance with Market Abuse Regulation, transactions relating to the 85 million shares buyback program are reported below:

Over the period 11 December to 15 December 2023 a total of 1,743,732 shares were bought at a weighted average price of EUR 23.9344. The detailed statement of this purchase is available at the following link: PDF. Thereby, the Company achieved 30.88% of its total target.

corporate.arcelormittal.com/investors...

voda 21 december 2023 22:13

1

Beursupdate: AEX op Wall Street
21-dec-2023 22:11

Index vrijwel stabiel.

(ABM FN-Dow Jones) Op Wall Street zijn donderdag vijf van de acht AEX-genoteerde fondsen ten opzichte van het slot in Amsterdam hoger gesloten maar bleef de AEX vrijwel stabiel door kleine verliezen voor zwaargewichten Shell en Unilever.

Aegon (-0,56%)
ArcelorMittal (+0,36%)
ASML (+0,54%)
ING Groep (+0,15%)
Philips (+0,05%)
RELX (+0,14%)
Royal Dutch Shell (-0,11%)
Unilever (-0,22%)

Euro/dollar: 1,1005

Op basis van de bovenstaande koersuitslagen zou de AEX index, die sloot op 789,88 punten, zijn geëindigd op 789,95 punten.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

voda 22 december 2023 06:36

1

ArcelorMittal Secures $2.7B CFE Deal
By Strategic Research Institute on Dec 22, 2023 10:24 am

Synopsis:

ArcelorMittal, a major steel producer, renews a 10-year contract with Mexico's CFE worth $2.7 billion for natural gas supply. This partnership ensures operational continuity and competitiveness for the company's Mexican operations, critical for its steel production.

Article:

ArcelorMittal, renowned as the world’s second-largest steel manufacturer, recently announced the renewal of a pivotal agreement. The steel giant has inked a substantial 10-year contract with Mexico's state-owned Federal Electricity Commission valued at a staggering $2.7 billion. This deal secures ArcelorMittal's natural gas supply for its Mexican operations, a cornerstone for its continued success in the country.

In a statement, the Mexican arm of this Luxembourg-based corporation emphasized the significance of this agreement for ArcelorMittal México. It solidifies a vital alliance critical for the operational flow and competitive edge of the company, which stands as the largest consumer of natural gas in Mexico.

ArcelorMittal has a significant footprint across multiple Mexican states, including Michoacán, Guanajuato, and Sonora. Its operations span various regions, demonstrating the company's commitment to contributing to the nation's industrial landscape.

The specifics of the agreement detail that the CFE will supply natural gas from Waha, Texas, to ArcelorMittal's Lázaro Cárdenas plant. This plant, strategically located in Michoacán, stands as a crucial hub for importing and exporting goods, playing a pivotal role in the company's logistical framework.

During the third quarter alone, the steelmaker shipped an impressive 2.5 million metric tons of steel from its North America segment, highlighting the scale and impact of its operations in the region.

Victor M. Cairo, CEO of ArcelorMittal México, hailed this contract renewal as a monumental achievement in their ongoing partnership with CFEnergía, a subsidiary of the Federal Electricity Commission. This renewal is not just a deal; it's a testament to the strategic alliance between the entities, ensuring mutual growth and sustainability.

The CFEnergía's general director, Miguel Santiago Reyes, emphasized the significance of this collaboration. He noted the vital role of natural gas supply in fostering competitiveness and economic development, expressing pride in the partnership's contribution to Mexico's industrial growth.

The recent history of CFE's contracts with U.S. natural gas suppliers and subsequent legal disputes adds context to this agreement, showcasing the critical importance of securing stable and reliable energy sources for Mexico's industrial sector.

Conclusion:

ArcelorMittal's renewed contract with CFE, valued at $2.7 billion, signifies a crucial step in securing its natural gas supply for the next decade. This pact solidifies a partnership vital for the company's operations and underscores the pivotal role of stable energy sources in Mexico's industrial growth.

Bron Steelguru (via email)

voda 22 december 2023 10:55

0

Stijgers en dalers

Onder de hoofdaandelen verloren naast Prosus ook ASMI en Adyen tot 0,5 procent aan beurswaarde.

Shell en ArcelorMittal wonnen daarentegen krap een procent.

In de AMX won Basic-Fit 6,3 procent. De fitnessketen gaat 47 fitnessclubs in Spanje overnemen van RSG Group. ING vindt de clubs goed passen bij Basic-Fit. Just Eat-Takeaway verloor juist 1,7 procent.

In de AScX wonnen Azerion en Renewi tot een procent. Azerion heeft alle lopende geschillen met zijn Britse partner Bidstack opgelost door een betaling van 3 miljoen euro.

Door: ABM Financial News.

03har 22 december 2023 11:35

1

Vandaag om 11.00 uur is, in Milaan, een vergadering begonnen waarin de status van ex. ILVA wordt besproken. Zoals ik al eerder aangaf, er loopt een deadline af op 29 december
Concrete aanleiding is de beschuldiging van Acciaierie d’Itala (Arcelor) naar de bonden om een onrechtmatige staking. De staking ging over de financiële status van ex ILVA en de continuering van het bedrijf.

Inzet is, enerzijds, een voorlopig credit van 320 miljoen om de lonen en 13e maand uit te keren en verder een krediet van 1;4 miljard om schulden aan derden te voldoen, dit laatste is vooral van belang voor de regio Puglia/Taranta waar veel onderhoud firma’s wachten op betaling van uitgevoerd onderhoud, anderzijds willen de bonden dat de overheid ((Invitalia) het aandelen pakket van Arcelor (68%) over neemt.
Wordt vervolgt

03haR

Vertraagd	3 mei 2024 17:35
Koers	24,300
Verschil	-0,030 (-0,12%)
Hoog	24,680
Laag	24,160
Volume	1.804.974
Volume gemiddeld	0
Volume gisteren	3.748.681

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