Eurobench.com

voda 7 maart 2014 16:25

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Port Hedland iron ore exports to China rise 36pct on year

Reuters reported that iron ore exports to China from Australia's Port Hedland, which ships about a fifth of the global market for the steel making raw material, rose 36% in February compared with the same month last year.

Shipments to China were 21.34 million tonnes in February, compared with 15.66 million for the same period in 2013. That was down from January's 23.31 million, although much of the decline may have been due to the timing of the Lunar New Year holiday in China.

February also saw heavy rains in the Pilbara iron belt, from where the port's top two users, BHP Billiton and Fortescue Metals Group, ship around 80 million tonnes per quarter.

Analysts have been concerned that China's appetite for imported ore could wane in the months ahead as industrial growth cools and demand for steel weakens. Iron ore shipments to Japan picked up to 2.7 million tonnes in February, from 1.43 million the previous month and 2.25 million in February last year.

Shipments to South Korea were at 2.61 million, from 2.74 million in January and 1.39 million in the same month of 2013. Overall, Port Hedland iron ore exports totalled 27.79 million tonnes, compared with 28.23 million in January and 19.9 million a year ago.

Source – Reuters

voda 7 maart 2014 16:26

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TATA Steel Scunthorpe workers help cut huge electricity bill

Staff at the Scunthorpe TATA Steel works are said to be doing a good job in helping the company avoid crippling electricity bills this winter. The 2,000 acre Scunthorpe site is one of the 100,000 heaviest energy users in Britain.

As a result the works is part of the power industry's triad system which determines how much the biggest electricity users are charged for using the National Grid. The triads are three undisclosed half-hours of peak demand between last November and this month.

Mr Paul Wheeler energy optimisation manager of TATA Steel said that "We won't find out the final dates of the triads until March and unfortunately the mild winter weather is making the periods more difficult to predict. However every effort is being made to reduce the impact on the business and so far only 11 load management periods have been called compared to 15 this time last year. Overall we are doing a good job reducing our electricity demand."

Source – Scunthorpe Telegraph

voda 7 maart 2014 16:29

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Chinese growth data boosts Australian iron ore industry

SMH reported that Australia's iron ore industry has been boosted by resilient Chinese growth data, but the mood has been tempered by confirmation that China will continue closing down ageing steel capacity.

Mr Li Keqiang Premier of China revealed 27 million tonnes of Chinese steel capacity would be cut in 2014. China's economic growth would continue at close to 7.5%.

The latter is good news for Australia's iron ore miners, after recent speculation that Chinese growth data may come in softer than 7.5%. But the steel cuts have confirmed China will not be deterred from its mission to close parts of its manufacturing industry that do not meet environmental standards.

Mr Tom Price analyst of UBS said that the cuts would affect a small amount of the steel industry, which has an official production capacity of 1.04 billion tonnes. 27 million tonnes is really a drop in the ocean given they have got more than 1 billion tonnes of capacity.

He said that tThey are showing the good intention of cleaning the industry up, but I don't think it is going to happen this week or this year, it is probably going to happen over several years.'

Mr Price said that ''In the main we are not concerned about growth in China for the short, medium or long term. If you are asking anyone to maintain growth and stimulate economic activity, I reckon you would want to ask the Chinese because they've demonstrated an incredible track record over multiple decades now.''

Source – SMH.com

voda 7 maart 2014 16:33

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TATA Steel uses Keyence sensors for high accuracy dimensional inspectio

TATA Steel Rail France takes great care in inspecting the straightness of the ends of its rails so that its customers receive the straightest possible rails. As a result, it has recently retrofitted its end straightness inspection systems with Keyence's latest generation of CCD laser displacement sensors, the LK Series.

During rail inspection, a carriage moves along the end of a rail at a rate of 3 meters per second and over a distance of 3.2 meters. The carriage is equipped with two LK-G triangulation sensors. The sensors generate a 2D profile of the rail surface at a rate of 10,000 sample points per second.

If the rail is not straight, it is transferred to a press to be straightened to within the desired tolerance. Measurements are extremely fast and the measurement accuracy achieved is in the order of a few hundredths of a millimetre.

Mr Michel Andre automated systems manager at TATA Steel Rail France in Hayange, France said that "We've been working with Keyence for many years. We looked around for an alternative supplier, but none of the systems we saw were suited us.”

Mr Eric Perruzza IT Officer said that "Rail surfaces are amongst the most complex to measure and are known to interfere with measurements. They are shiny and can be mottled with rust, which is dull. As a result, a sensor will tend to feed back too many incorrect measurements making it impossible to inspect straightness."

He said that "We have designed a computerised measurement archival and reprocessing system that allows us to accurately estimate repeatability. With Keyence, we achieve a satisfactory rate of correct measurements that is well over what the competition offers."

Source – Strategic Research Institute

voda 8 maart 2014 16:58

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Indian Steel capacity to reach 135 million tonnes – SAIL

BS cited Mr CS Verma chairman of SAIL as saying that with around 50% capacity increase in the offing, India's steel industry is likely to face a temporary over supply situation.

Mr Verma said that "Substantial capacity additions are lined up in the next 1 to 2 years in the country taking the capacity from the current level of around 90 million tonnes per annum to around 135 million tonne per annum by 2015 to 2016.”

He added “The rise in production may lead to a temporary phase of over-supply, this is because typically the increase in capacities is in spikes, whereas the increase in consumption follows a relatively smoother trajectory."

Source - Business Standard

voda 8 maart 2014 17:00

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China steel and iron ore futures hit contract lows on demand doubts

Reuters reported that Chinese steel and iron ore futures fell to contract lows reflecting concern demand from the world's top consumer of both commodities is unlikely to perk up as Beijing aims for a less investment driven economic expansion.

The most-traded rebar for October delivery on the Shanghai Futures Exchange was down 1.3% at CNY 3,361 per tonne

Iron ore for delivery in September on the Dalian Commodity Exchange slid 2.5% to a session low of CNY 775 per tonne, its weakest since the bourse launched iron ore futures in October.

A trader in Tianjin said that "There aren't really any positive factors to stimulate the steel market in China. The expectation for the economy is not good and the anti pollution campaign is targeting the steel sector.

Traders said that there was some appetite for spot iron ore cargoes during the week although most buyers sought cheaper shipments in anticipation of a further decline in prices.

A trader in Shanghai said that “We are looking at some small cargoes but only if there's a sure buyer. Otherwise we're not taking positions at the moment. I think the market has a bigger chance of declining instead of stabilising because fundamentals for steel have not really changed."

Source - Reuters

voda 8 maart 2014 17:00

1

Japanese steel imports in January hit 16 year high

Reuters reported that a spike in Japan's steel imports threatens to arrest a nascent recovery in domestic prices of the alloy and crimp profits at the nation's steelmakers while offering other Asian producers opportunities to unload their surplus output.

Japan's large steelmakers have in the past year sold more at home and at higher margins due to resurgent demand following the economic policies of the new government. That has led to surging profits for Nippon Steel & Sumitomo Metal Corporation, Japan's top steelmaker and No.2 JFE Holdings among others. But that has also opened a door for other steelmakers from Asia, who are suffering from low margins amid an oversupply in the region to push through exports.

As a result, Japan's imports of steel products hit a 16 year high in January. The Japan Iron and Steel Federation said that Japan's imports of steel products jumped 43.7% YoY in January to 487,000 tonnes the highest since March 1998. Imports from South Korea, Taiwan and China rose 38.5%, 58.5% and 68.9% respectively for the month.

Mr Shinya Higuchi executive VP of Nippon Steel said that "Steel products from South Korea and China are now headed toward Japan as it's the brightest spot in Asia with robust demand."

Japan's crude steel output hit 5 year high of 110.6 million tonnes in 2013 due to rising demand and imports of steel products have risen for a third straight month in January. Imports had fallen for about a year after Abe's stimulus policy sent the yen sliding. But they have rebounded since November even as the yen remains soft, pointing to strong demand in Japan.

Source - Reuters

voda 8 maart 2014 17:01

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US accuses China of unfair subsidies on hi tech steel exports

SCMP reported that the United States has accused China of unfairly subsidising exports of hi tech steel, potentially escalating a spat over trade of the speciality metal product. The US Department of Commerce estimated a subsidy rate of 49.15% on imports of grain oriented electrical steel from Baoshan Iron & Steel Company and other Chinese exporters.

An official of the Baosteel Group, China's largest steel producer, said the product only accounts for a small part of their output.

Mr He Wenbo GM of the Shanghai state owned steel maker said that "While we make quite a large amount, this product does not account for much of our sales.”

He said sales of the grain oriented electrical steel accounted for 11% of total sales. Annual output of the speciality steel would reach 300,000 tonnes. According to the website of Baosteel's rival the Wuhan Iron and Steel Group produced 400,000 tonnes of the speciality metal in 2012.

In January, the United States took action at the World Trade Organisation, complaining that China used tariffs to effectively block imports of US steel despite a WTO ruling in the United States' favour. The steel is used in the cores of high efficiency transformers, electric motors and generators.

In 2013, imports of grain oriented electrical steel from China were valued at an estimated USD 5.4 million. The complaint was lodged by AK Steel and Allegheny Technologies. The commerce department and the International Trade Commission have yet to issue final rulings in the cases.

Source - SCMP

voda 9 maart 2014 16:50

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TATA Steel sees 24pct rise in Canadian iron ore reserve

Financial Express reported that In a major boost to the prospects of raw material security of TATA Steel's United Kingdom based subsidiary TATA Steel Europe, the company has seen its reserves in its prolific Canadian iron ore mine rising by over 24%.

According to company sources, the Direct Shipping Ore project where the company holds about 80% stake in the Quebec region of Canada is approaching commercial production very soon and the reserve upgrade ushers in a good sign as it assures better raw material availability for TATA Steel Europe.

According to New Millennium Corporation, TATA Steel’s JV partner in the project the new estimate consists of approximately 98.9 million tonne of measured and indicated mineral resources at an average grade of 59.3% Fe on a dry basis plus an additional 6.7 million tonne of inferred mineral resources at 56.7% Fe.

The announcement comes after December 2013 announcement in which the company said it is expediting the Taconite project a massive iron ore reserve belt in the same region and an additional ore project apart from DSO and looking for partners for extraction of ore and commencement of early mining.

The DSO Project is owned and operated by TATA Steel Minerals Canada Limited which in turn is 80% owned by TATA Steel and 20% by NML. TATA Steel owns over 26% stake in NML as well and is currently the single biggest shareholder in the company too.

According to an earlier estimate of the reserves at DSO, the project contained 64.1 million tonnes of proven and probable mineral reserves at an average grade of 58.8% Fe and 21 million tonne of measured and indicated mineral resources at an average grade of 59.2% Fe, thereby making a total of 85 million tonne of reserves.

According to the company's annual report, while no specific date has been mentioned for the commercial production of the DSO project, TSMC has commenced production in September 2012 and achieved the production of 0.30 million tonne in 2012 to 2013 against the proposed 0.25 million tonne. A production of 2 million tonne is planned for 2013 to 2014.

Analysts said that in current fiscal about 2 million tonne of production is likely and, hence, they are not attaching much value to the project as times-lines are not certain. However, in a long run, the project along with the prolific Taconite project and Howse deposit yet another iron ore belt near DSO, will turn out to be beneficial for the company's European operations.

In March 2013, the company through subsidiary TSMC, entered into a framework arrangement with Labrador Iron Mines (LIM) for acquisition of a 51% stake in LIM’s Howse deposit, which is near the company’s DSO Project. This arrangement is expected to enhance resource and production and will also improve operational fexibility relating to DSO Project.

Source – Financial Express.com

voda 9 maart 2014 16:55

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Ukrainian steel rebar prices crashing - Report

Reuters reported that Ukraine's steel exporters are trying to push into new markets such as in North Africa as a weak currency battered by political upheaval and tensions with Russia has pushed rebar prices to 3 1/2-year lows.

The hryvnia has fallen 11% versus the dollar this year as the overthrow of its president and the entry of Russian troops into Crimea have added to Ukraine's long-running financial problems.

Ukraine, the world's second largest exporter of steel rebar, recently sold the alloy to Algeria, while its prices have fallen some USD 50 per tonne since the start of the year to USD 510 to USD 515.

Mr Dmitry Popov analyst of CRU said that "There's more competition from CIS markets in Ukraine and Belarus while demand has remained sluggish. That's why Ukraine was selling to Algeria at low prices just to find a new market."

According to CRU, by contrast, southern Europe's rebar exports fetch around EUR 440 making it tough for European steelmakers to compete even in markets such as Algeria where a free trade agreement means they do not have to pay a 15% export duty.

In 2013, most of Ukraine's rebar went to Russia but that demand has slumped after the end of the Sochi Olympics building spree and due to a weak rouble down 10% versus the dollar this year.

Meanwhile, competition has been heating up with Turkey, the world's top rebar exporter, where export prices have also fallen sharply thanks to weak domestic demand and strong declines in the Turkish lira.

Source – Reuters

voda 10 maart 2014 16:08

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ArcelorMittal herhaalt outlook '14, stelt groei vraag naar staal '14 opwaarts bij

AMSTERDAM (Dow Jones)--ArcelorMittal (MT.AE) herhaalt zijn outlook voor 2014, meldt het concern maandag bij aanvang van zijn investeringsdag.

Daarnaast meldt de staalproducent in 2014 een toename in de vraag naar staal te voorzien van 3,5-4,0%, waar het bedrijf begin februari nog aangaf een groei van ongeveer 3% te voorzien.

Tevens stelt het concern op de middellange termijn te streven naar een genormaliseerde winst voor rente, belastingen, afschrijven en amortisatie (EBITDA) van $150 per ton.

Tijdens de presentatie van zijn jaarcijfers op 7 februari meldde ArcelorMittal in 2014 een verbetering van de operationele winst te voorzien naar $8,0 miljard, als gevolg van een stijgende consumptie van staal van 3,5% tot 4,0% dit jaar. Het concern stelde tevens dat risico's voor de economie blijven bestaan, maar dat het vooral positief is over de verwachtingen in zijn belangrijkste markten in ontwikkelde economieen.

- Door Patrick Buis; Dow Jones Nieuwsdienst; +31 20 571 52 00; patrick.buis@wsj.com

voda 10 maart 2014 16:36

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TATA Steel Odisha units may go on stream in 2 years

Business Line reported that TATA Steel is hopeful of operating its Kalinganagar and Gopalpur units at Odisha in 2015 to 2016.

While the first phase of the 6 million tonne per annum steel unit at Kalinganagar will be operational by the end of FY 2015, construction of the ferroalloy unit at Gopalpur will be completed in another 18 months.

Mr TV Narendran MD of TATA Steel said that “Around 40,000 people are working onsite for the Kalinganagar project. Kalinganagar is going on full stream. By the end of the next financial year is what we have said (it will be operational). We are sticking to that expectation.”

Mr Narendran that the company is currently sorting out some local issues at its INR 1,000 crore Gopalpur project. He said that “There were some local issues that we are sorting out now. Construction has started and that will take another 18 months. That will take another 18 months.”

Construction of the 50,000 tonnes per annum ferroalloy unit has already begun and equipments have been put on ground. The TATAs have also laid the foundation stone for and hospital there.

Source – Business Line

voda 10 maart 2014 16:39

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India needs USD 200 billion investment to meet steel output target by 2025

Indian Express quoted SAIL as saying that investments of over USD 200 billion would be needed to fructify the government’s dream of achieving a production level of 300 million tonne by 2025, the target set by the high level committee on manufacturing for the steel industry.

Mr CS Verma chairman of SAIL believed that to help the steel companies meet that number, the government will have to mitigate teething troubles such as land acquisition, ensure steady raw material supply and streamline environmental issues.

He said that “Achieving this level of output would throw up opportunities as well as challenges. While this would entail setting up of new plants and capacity expansion for the existing ones, it would also depend heavily on the growth of the infrastructure sector where steel products are extensively consumed.”

Mr Verma also said that the country may witness a temporary phase of oversupply, but this could be offset by a deeper penetration in rural areas, where the per capita steel consumption is currently around 12 kilogram.

Source – Indian Express

voda 10 maart 2014 16:40

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TATA Steel UK creating 400 contracting jobs with GBP 30 million blast furnace rebuild

Scunthorpe Telegraph reported that the work has started on the GBP 30 million rebuild of the Queen Anne blast furnace on the Scunthorpe TATA Steel works.

It is the biggest single investment in the town since the Indian owners bought the site in 2007 as part of a GBP 6.4 billion deal.

The work, expected to last around six months, will also create 400 contracting jobs in Scunthorpe in another boost for the local economy.

Mr Sean Scorer chairman of the Scunthorpe works multi union committee said that “The furnace reline is the most positive thing that has happened on the Scunthorpe works in the last five years. These have been very difficult years and many challenges are still ahead but the reline of Queen Anne gives the ironworks a new lease of life. Market conditions remain difficult but this welcome investment combined with the dedicated and highly skilled workforce gives us a fighting chance.”

In January, the 75 year old Queen Bess furnace, which had been mothballed since September 2011 was relit to make way for the GBP 30 million investment. The work means Scunthorpe will maintain a two furnace iron making operation while the 60 year old Queen Anne is off stream.

Source – Scunthorpetelegraph.co.uk

voda 10 maart 2014 16:41

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TATA Steel has teams up with JCB Landpower to make the tractor of tomorrow

A North East steel firm is helping to make the latest version of a famous farm vehicle. TATA Steel has teamed up with JCB Landpower to create the company’s most productive tractor yet.

Using innovative design and engineering methods TATA Steel engineers at its Skinningrove, east Cleveland site have been able to reduce the weight of the next generation of JCB Fastrac machines making them leaner on fuel consumption, able to handle bigger loads and safer than previous models while retaining the strength required by farmers around the world.

The steel is being provided by Tata in Scunthorpe but it will be worked by the firm's Skinningrove team. A three way partnership involving TATA Steel, JCB Landpower and GKN the current manufacturer of the Fastrac 4000 tractor chassis was formed to develop the vehicle which was previewed recently at the Agritechnica show in Hanover, Germany. But using computer aided engineering tools, engineers from Tata Steel designed a strong chassis which was as light as possible.

Mr Phil Clements head of lifting and excavating at TATA Steel said that “Optimising product design from the outset is fundamental to achieving the best result and this is why we work in partnership with our customers through our early vendor involvement program. This is the first time we have worked with JCB Landpower and GKN Structures in this way and we hope this successful outcome paves the way for many more collaborations.”

Source – Thenorthernecho.co.uk

voda 10 maart 2014 16:50

1

Japan's steel imports hit record high in January

According to data released by Japan Iron & Steel Federation, Japan’s imports of common steel products rose to 486,624 tonnes in January up by 19.4% from December and by nearly 44% from the same month of last year. The figure was the highest monthly total on record since March 1998.

Common steel imports from Korea reached 338,776 tons, up by 24% from December and by 38.5% on year, while imports from Taiwan reached 105,270 tonnes up by 26.5% on month and by 58.5% on year.

Source - www.yieh.com

voda 10 maart 2014 17:08

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ArcelorMittal ziet impact Oekraiense crisis op vraag naar staal

LONDON (Dow Jones)--ArcelorMittal (MT.AE), 's werelds grootste staalproducent, ziet impact van de politieke crisis in Oekraine op de vraag naar staal in het land, stelde de chief executive van het bedrijf, Laskhmi Mittal, maandag tijdens een analistendag.

De productie in Oekraine blijft echter normaal, benadrukt de ceo.

"Wat ons betreft, produceren we op een normaal niveau" in Oekraine, aldus Mittal. De binnenlandse vraag naar staal is volgens hem vooral afgenomen omdat "mensen niet investeren" maar aan de andere kant zijn ook de kosten gedaald omdat de Oekraiense munteenheid grivna ten opzichte van de Amerikaanse dollar verzwakt is vanwege de spanningen in het land.

Door de crisis in Oekraine zal de staalverkoop van ArcelorMittal's Kryviy Rih fabriek naar verwachting halveren, maar ceo Mittal benadrukte dat "dit materiaal al wordt omgeleid naar andere markten."

De Kryviy Rih staalfabriek, e e n van de grootste in Oekraine en gelegen op iets meer dan 400 kilometer ten zuidoosten van hoofdstad Kiev, produceerde vorig jaar 6,4 miljoen metrische ton ruw staal.

Door Alex MacDonald; vertaald en bewerkt door Marleen Groen; Dow Jones Nieuwsdienst; +31 20 5715 200; marleen.groen@wsj.com

pietje-2005 11 maart 2014 07:22

0

Flink stuk op Bloomberg over de ore prices:
Begint met:
Iron ore extended its decline into a bear market, slumping by the most since August 2009, amid concern that demand in China is slowing just as rising output signals a global glut.

mvliex 1 11 maart 2014 12:41

0

FNV: werknemers Tata Steel gaan in staking

Gepubliceerd op 11 mrt 2014 om 12:35
IJMUIDEN (AFN) - Staalconcern Tata Steel in IJmuiden gaat een ,,langdurige stakingsperiode'' tegemoet. De werknemers leggen vanaf vrijdag of maandag het werk neer. Dat heeft Aad in 't Veld, vakbondsbestuurder bij FNV Bondgenoten, dinsdag gezegd.

Vorige maand liepen de onderhandelingen over een nieuw cao vast. ,,We zullen formeel een ultimatum neerleggen, daarna volgen er stakingen'', aldus In 't Veld. Dinsdagochtend stemden 1100 werknemers unaniem in om het werk neer te leggen. Later op de dag volgt een tweede stemronde, waarbij nog zo'n 500 medewerkers hun stem kunnen uitbrengen.

FNV eist een salarisstijging van 3 procent en dat de ,,verslechteringen'' in de arbeidsvoorwaarden van tafel worden gehaald, aldus de vakbondsbestuurder. Bij Tata Steel Nederland, het vroegere Hoogovens, werken ongeveer 9000 mensen.

irp 11 maart 2014 12:55

0

di 11 mrt 2014, 12:37

’Zorgen over stagnatie China voorbarig’
door onze redactie

De recente domper over de forse terugval van de export in China heeft onterecht de vrees aangewakkerd dat de tweede economie van de wereld op weg is naar een harde landing. Dat stellen economen van ABN Amro.

De export daalde in februari maar liefst met 18,1%, de grootste afname sinds augustus 2009. De economen bendrukken dat de grote volatiliteit in de macrocijfers kenmerkend in voor de eerste maanden van het jaar mede vanwege de viering van het Chinese nieuwjaar. Ook het slechte winterweer in de VS hebben naar hun mening bijgedragen doordat de export naar Amerika vorige maand met 11,3% omlaag ging.

De economen houden er rekening mee dat China de voorgenomen doelstelling van een groei met 7,5% in 2014 nog steeds gaan halen mede vanwege de melding van de Chinese overheid om de risico ’s van het schaduwbankieren, waarbij bedrijven langs onoficiële weg geld lenen, niet al te hardhandig aan te gaan aanpakken.

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