Eurobench.com

voda 6 februari 2017 16:54

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Commerce Finds Dumping and Countervailable Subsidies of Imports of Stainless Steel Sheet and strip

In February 2, 2017, the US Department of Commerce announced its affirmative final determinations in the antidumping duty (AD) and countervailing duty (CVD) investigations of imports of stainless steel sheet and strip from the People’s Republic of China.

Source : Strategic Research Institute

voda 6 februari 2017 17:12

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China questions unfair US tax on Chinese stainless steel products

Global Times reported that China is disappointed about the high tax rates that the US government imposed on Chinese steel products and questioned the "unfair ways" in which the US conducts anti-dumping investigations. The comment came after the US Commerce Department on Thursday announced anti-dumping duties on Chinese steel imports, which range from 63.86 percent to 76.64 percent and countervailing duties from 75.6 percent to 190.71 percent.

The US has violated WTO rules by neglecting evidence from Chinese companies and has treated them unfairly on the excuse that the firms are State-owned enterprises, Wang Hejun, head of the Trade Remedy and Investigation Bureau at China's Ministry of Commerce (MOFCOM), said in a statement posted on the ministry's website on Saturday.

In the anti-dumping investigation, US departments disregarded the active cooperation of the Chinese government and Chinese enterprises, Wang said.

"The Chinese government will take necessary measures to protect the rights of its enterprises," Wang noted.

The sluggish world economy and weak demand are the major factors behind the troubles in the domestic steel industry, Wang said, noting that joint efforts across the globe are needed to address the challenges in the industry.

"Protectionism harms other countries' rights to export products and injures the interests of US consumers and downstream industries," he said.

The Chinese government will urge the US to comply with WTO rules and correct its wrongful practices, the official said.

Source : Global Times

voda 6 februari 2017 17:13

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Potanin tells Putin he will make nickel industry greater, cleaner

The Barents Observer reported that in his one-to-one meeting in the Kremlin, Mr Vladimir Potanin highlighted to President Putin that Norilsk Nickel will boost production and cut emissions as part of a major modernization effort.

Owner and CEO of Norilsk Nickel told the President that “Our long-term development program has already started and will run until year 2023.”

He said that “Ore extraction will be doubled and the volumes of enriched nickel will increase by about 1,5 times. At the same time, emissions are planned cut by 75 percent.”

He added that “There will be a very serious modernization of capacities, the production of Norilsk Nickel will become the most modern and biggest in the world.”

He further said that “By 2023, this problem will be fully solved.”

The complete cost for the modernization amounts to a staggering RUR 1 trillion (EUR 15.5 billion), of which RUR 250 billion (EUR 3,88 billion) will be spent on environmental efforts.

Norilsk Nickel are among the most dirty companies in Russia with annual emissions exceeding 2 million tons of sulphur dioxide. The company has its key production facilities in the Arctic, in Taymyr and the Kola Peninsula.

In a recent newspaper article, Potanin confirmed that he considers to close the company plant in Nikel, the border town in the Kola Peninsula. The closure could take place after 2019, and would proceed in a similar manner as the closure of the company’s shutdown of a plant in Norilsk in 2016.

Source : The Barents Observer

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voda 7 februari 2017 16:52

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Outokumpu stainless steel secures public transportation in Stockholm for the future
Outokumpu delivers 600 tonnes of Forta LDX2404 stainless steel for renovating the Soderstromsbron in Stockholm, Sweden.

Source : Strategic Research Institute

voda 7 februari 2017 16:56

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PPMAI writes to steel minister to extend date of implementation of stainless steel quality control order

The Process Plant and Machinery Association of India which represents the Capital goods and Process Equipment manufacturing and exporting industry in the country has written a letter Union Ministry of Steel to extend implementation of Stainless Steel products Quality Control order for at least Five more months Tile June 2017 on the lines of 15 months period earlier given to carbon steel industry to implement the carbon steel Quality control order .

Source : Strategic Research Institute

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voda 7 februari 2017 16:59

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ICF gets INR 341 crore for switching over to stainless steel

DECCAN CHRONICLE reported that Railway Board has sanctioned INR 341 crore to a project aimed at a complete switch over to stainless steel coaches, which was for long.

According to senior ICF officials, the project was sanctioned during this budget. Once the estimates are submitted, tenders will be floated so that within a span of four years, all coaches that are rolled out of the ICF manufacturing unit are made of stainless steel.

A senior official said that “As the amount of Rs. 341 crore has been sanctioned now, the estimates, preparation work has started already, and work on approvals is in the initial stages. It will be a while before tenders are floated for the same.”

He added that the project was on the cards, but since the official confirmation of the project has come in only now, a detailed estimate preparation will be undertaken. He said that “Within the next three-four years, all coaches will be manufactured in stainless steel.”

Stainless steel makes coaches more durable and provides increased safety to coaches. These coaches are lighter by 40 percent, but can handle more payloads. Due to its better shock-bearing capacity and lower ductility, stainless steel instead of Corten steel ensures that the coach endures damage better than the conventional ICF-manufactured coaches.

Source : DECCAN CHRONICLE

voda 7 februari 2017 17:12

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CAP cuts 17% personnel in Argentine branch

Additional measures of cost reduction CAP has implemented in two of its subsidiaries, Huachipato and Tubos Argentinos. Although the reasons are different on steel supply in the first case, and the internal economic moment in the second, the measures aim at the same: to improve the financial situation of its subsidiaries. Specifically, and as the company's financial statements reveal, during December the board of Huachipato a subsidiary of CAP Acero approved the business plan for the company's 2017-2021 period, which includes a complete plan to "reverse Situation of negative working capital and recurrent losses.

Within the measures, it is to discard the restart of operations of the line of lamination of hot planes; For this purpose, the assets belonging to this production line were punished for approximately USD 32 million. He said that "The gradual implementation of the cost reduction and operating strategy measures will allow the subsidiary to ensure the continuity of its profitable operations in the short term. Through its Matrix CAP S.A. Has the capacity to access the financial system to finance its operations, which in the opinion of the administration determines its ability to continue as a going concern.”

The Argentine subsidiary of CAP, Tubos Argentinos, dedicated to the cutting of coils, the pressing of hot-rolled and galvanized sheet metal, among others, had to implement a hard cost reduction plan, which included untying Of 17% of the flat.

Tubos Argentinos which has two plants, one located in the town of Talar de Pacheco and another in Justo Daract was severely affected by the economic changes carried out by the government of Mauricio Macri, among which is the elimination of Foreign exchange restrictions, the suspension of export retentions and the adjustment of utility tariffs.

All this, explained CAP, was reflected with a retraction in the market in general and in particular the steel. For this reason, in the middle of the year it was decided to schedule the temporary and partial suspension of the production activities of its plants: one that took place during the first week of June, another during the month of July.

They indicate that "This suspension had as main objective, in addition to regularizing the stock levels of both plants, to rearrange and accelerate the transfers of the machinery in order to conclude with the work of expansion called 'Great Pipes', investment initiated in 2015 in the plant located In General Pacheco, which will enable the subsidiary to enter new markets by marketing larger diameter tubes.”

Source : Pulso Cl

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voda 7 februari 2017 17:25

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Hebei Metal Mesh supplies high quality stainless steel rope mesh to strengthen zoo enclosure

Hebei Metal Mesh Ltd is specialized in making unique grades of stainless steel mesh for animal and bird enclosures. All these products stringently meet the latest international criteria.

Source : Strategic Research Institute

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voda 7 februari 2017 17:50

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Isabel Nickel Project - San Jorge deposit drilling results

Axiom Mining Limited announced further outstanding results from the drill program on San Jorge Island in the Solomon Islands.

Source : Strategic Research Institute

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voda 8 februari 2017 16:43

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Indonesian nickel mines set to re-open

The West reported that Indonesian miners are looking to swing mothballed nickel mines back into production in the wake of a Government decision to relax export bans, and after the Philippines threw a spoke into the wheel of its own industry.

Hong Kong-listed China Hanking Holdings told shareholders yesterday it intended to restart a low-grade nickel mine it closed in 2014, in the wake of Indonesia’s export bans.

The company’s announcement indicates initial output from the mine will be sent to local smelters, and the restart is at a relatively small scale.

Hanking said it had signed a deal with a local mining services provider to mine and sell 1.5 million tonnes of ore grading at least 1.9 per cent or about 28,500 tonnes of contained nickel over the next year. It hopes to get USD 32 a tonne.

Indonesia’s January announcement it would partly relax bans on low-grade nickel exports sent the market into a spin, briefly tanking the share price of local producers such as Western Areas and Independence Group.

While the exact shape of Indonesia’s new export regime is still unclear, some of that damage was reversed last week when the Philippines announced the results of an environmental crackdown.

The Department of Environment and Natural Resources last week released a list of mines scheduled for closure on environmental grounds, includes nickel mines worth just over half of its 400,000t worth of nickel exports in 2016.

Source : The West

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voda 15 februari 2017 17:09

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PT Antam has 5 million tonnes low-grade nickel ore for export

Reuters reported that Indonesian state controlled miner PT Aneka Tambang has an estimated 5 million tonnes of low grade wet nickel ore available for immediate shipping.

Corporate secretary Trenggono Sutioso told Reuters that "Antam is ready in principle to follow government regulations including export taxes. The estimated potential low grade nickel ore that can be utilised immediately is 5 million tonnes wet low grade nickel ore."

Indonesia eased mining export rules last month, allowing export of unprocessed ore under certain conditions.

A ban on unprocessed ore exports was imposed in 2014 to encourage investment in value-added smelting projects but this restriction hit government revenues, contributing to a hefty budget deficit. The government missed its 2016 revenue target by USD 17.6 billion.

Antam is waiting for further guidance from the government before starting to export, Mr Sutioso said when asked how soon Antam could start making shipments.

Separately, the Indonesian government said on Monday it had set new tax rates for mineral exports, including a flat 10% tax for nickel ore with a nickel content of less than 1.7%.

Source : Reuters

voda 16 februari 2017 17:22

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Australia's Ravensthorpe nickel mine cut off by rains -First Quantum

Reuters reported that Heavy rains have cut access in and out of the Ravensthorpe nickel-producing operations in Western Australia, owner First Quantum Minerals said on Monday.

The processing of nickel ore into metal was continuing at the site, 250 km from the Port of Esperance on the Indian Ocean, the company said in a statement emailed to Reuters.

First Quantum said that "There is currently no access into or out of First Quantum Minerals' Ravensthorpe nickel operations. At this stage we will not declare force majeure but we reserve the right to."

A protracted delay in shipments would aggravate already tight global supply. Nickel prices are up by 15% since late January, following a Philippine government decree that closed more than half the mines there over environmental concerns.

Ravensthorpe was earlier expected to produce 25,000 tonnes of nickel in 2017, according to First Quantum's website.

Global demand for nickel used to toughen stainless steel stands at around 2 million tonnes per year, according to the Lisbon-based International Nickel Study Group.

Capital Economics in London in a recent note predicted nickel prices would climb to USD 11,500 a tonne by the end of the year versus just under $10,000 in early January.

Source : Reuters

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voda 16 februari 2017 17:22

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Australia's Ravensthorpe nickel mine cut off by rains -First Quantum

Reuters reported that Heavy rains have cut access in and out of the Ravensthorpe nickel-producing operations in Western Australia, owner First Quantum Minerals said on Monday.

The processing of nickel ore into metal was continuing at the site, 250 km from the Port of Esperance on the Indian Ocean, the company said in a statement emailed to Reuters.

First Quantum said that "There is currently no access into or out of First Quantum Minerals' Ravensthorpe nickel operations. At this stage we will not declare force majeure but we reserve the right to."

A protracted delay in shipments would aggravate already tight global supply. Nickel prices are up by 15% since late January, following a Philippine government decree that closed more than half the mines there over environmental concerns.

Ravensthorpe was earlier expected to produce 25,000 tonnes of nickel in 2017, according to First Quantum's website.

Global demand for nickel used to toughen stainless steel stands at around 2 million tonnes per year, according to the Lisbon-based International Nickel Study Group.

Capital Economics in London in a recent note predicted nickel prices would climb to USD 11,500 a tonne by the end of the year versus just under $10,000 in early January.

Source : Reuters

voda 22 februari 2017 15:39

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Nickel to gain as mines in Philippines shut amid supply concerns

India Infoline News Service reported that world's top nickel exporter, Philippines, is likely to extend the bull-run in the metal prices this year, amid rising concerns over supply disruption.

After zinc, nickel was the second-best performer in the base metals complex last year and is expected to move on the same trajectory and re-test the 2016

Nickel contract on the London Metal Exchange benchmark of three month, has risen to 38 per cent in 2016, touching a yearly high of USD 12,145 per tn. Zinc prices increased to a whopping 86 per cent last year. Continuing with its rising trend, nickel prices have gained 10 per cent so far, this year, to a high of USD 11,060 a tn, mainly due to concerns over supply disruption from Philippines and slight improvement in demand from the stainless-steel sector.

Earlier this month, Philippines had ordered closure of 23 mines, mostly nickel, after they were found damaging the environment. The mining companies in the country, however, might challenge the government's decision in the court of law.

According to reports, supply concerns have also emerged from Australia, where heavy rains have cut access to Ravensthorpe nickel mine in the western region.

Source : India Infoline News Service

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voda 23 februari 2017 16:46

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Nisshin Steel opens stainless steel precision rolling JV in Taiwan

Taiwan Nissin Denshi Precision Stainless Steel Co Ltd, a JV of Nisshin Steel Corporation, Konpakuha Stain Manufacturing Co Ltd and Marubeni Itochu Steel Co Ltd, has recently held the opening ceremony.

Source : Strategic Research Institute

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voda 23 februari 2017 16:50

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Universal Stainless announces Low Alloy VAR Bar base price increase

Universal Stainless & Alloy Products Inc announced a base price increase of 5% on all low alloy VAR quality bar products manufactured at its Bridgeville, Dunkirk and North Jackson facilities.

Source : Strategic Research Institute

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voda 23 februari 2017 17:01

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ASA Resources sees global nickel prices stabilising

Bindura Nickel Corporation parent firm, ASA Resources, foresees international nickel prices stabilising in the near future.

The global nickel prices has been unstable over the past few years due to a number of policy developments in Indonesia and the Philippines around their nickel mining sectors.

ASA Resources CEO Mr Yat Hoi Ning said the Trojan Nickel Mine has in recent months been benefitting from reasonable prices that were being determined by macro-industry developments. He said that “Trojan Nickel Mine nickel has been fluctuating between $8 800 per tonne and $10 800 per tonne for many months, mainly due to the news coming from the Philippines and Indonesia to eradicate more environmentally controversial mining practices.

He added that “It would appear that a consensus is emerging and the Philippines government will implement its original plan to curtail the shipment of unprocessed ore this should stabilize the market.”

The price of nickel rose sharply at the beginning of February as traders placed bets on supply pressures reverberating from a decision by the Philippines to close almost two dozen mines.

The improvement in the global nickel price puts Trojan in good stead as the nickel producer has been improving in terms of output.

According to a third quarter update (three months to December 31, 2016), Trojan achieved significant increases in both mining and milling output, production for nickel-in-concentrate, recoveries and head grade were lower. As a result AISC costs increased to USD 6 554 per tonne.

Source : BH24.co

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voda 23 februari 2017 17:02

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Ravensthorpe nickel has a future - First Quantum

The West reported that owner of Ravensthorpe’s biggest mine has given its strongest indication yet it has no plans to shutter the 25,000 tonne a year nickel laterite operations which employ 270 people on WA’s south coast.

The promise of the emerging technologies market is keeping First Quantum Minerals positive on Ravensthorpe, a year after it was reportedly on the block with the Kevitsa nickel mine in Finland, despite losing USD 50¢/lb at the south coast mine last quarter.

First Quantum exports a “mixed hydroxide” product for use in the casing of long-life batteries from Ravensthorpe, which had access restored last Thursday with no impact to production after severe flooding cut off every road leading to the project.

It produced 6206 tonnes, selling 6073t at an average USD 4.50/lb in the December quarter at all-in-sustaining-cost of USD 5.03/lb. That was about 25 per cent down on sales in the corresponding period in 2015 (8583t), but helped maintain sales above 25,000t (25,882t after producing 23,624t) for 2016.

But responding to analysts on a conference call on Friday night, First Quantum chief financial officer Hannes Meyer said the Canadian miner had no intention of stepping away.

He said that “At these nickel prices (Ravensthorpe) is a marginal operation, it makes a little bit of money, sometimes it loses a bit. At the right nickel price it’s a very attractive project to own, it has done extremely well in the past and our view is it will do extremely well in the future.”

Mr Meyer said the novelty of the product and its exposure to new technology meant First Quantum would not think about shutting down or selling Ravensthorpe, which it bought for USD 540 million from BHP Billiton in 2010 and has a lifespan to the early 2040s.

Mr Meyer said that “It’s still a valuable asset to us, it also has the technology, it’s a high pressure acid leach (process) and we have a team there who run it absolutely brilliantly and we certainly wouldn’t want to lose that team either. So there’s lots of reasons why it makes sense to keep it going.”

First Quantum logged earnings before interest, tax, depreciation and amortisation of USD 964 million in 2016 for a net profit of USD 222 million against a USD 501 million loss for 2015.

Its profits were largely driven by gold sales, although a year-on-year fall in copper prices meant its margins were slimmed despite achieving commercial production at its Sentinel copper project in Zambia last quarter.

Source : The West

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voda 23 februari 2017 17:03

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FNi unit wins supply contract from Baosteel

Business World Online reported that GLOBAL FERRONICKEL Holdings, Inc s subsidiary, which has been ordered shut by the Environment department, has renewed a contract to supply nickel ore to China’s Baosteel Resources International Co.

In a disclosure to the stock exchange, GFNi said Platinum Group Metals Corp has secured an annual contract to supply 1 million wet metric tonnes to Baosteel Resources at prevailing market prices.

PGMC was one of the mining companies ordered closed by the Department of Environment and Natural Resources earlier this month due to environmental violations.

Since 2014, PGMC has supplied Baosteel Resources with high to medium grade saprolite ore, and medium to low grade limonite ore. Baosteel Resources is a wholly owned subsidiary of Baosteel Group, which ranked as the 5th largest company among iron and steel enterprises in 2015.

Source : Business World Online

voda 24 februari 2017 13:54

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South Africa to use stainless steel to save water losses

Bizcommunity reported that With South Africa experiencing stage two and three water restrictions following its worst drought in decades, the spotlight falls on how to reduce leakages and maintenance costs and preserve our already strained water resources into the long-term future.

The importance of tightening up South Africa’s water supply infrastructure comes into sharp focus when one considers statistics cited in a Timeslive.co.za report, which stated that up to 40% of Johannesburg's water goes unaccounted for annually, costing the city R1.16bn in the year (ending June 30, 2015). Of that about R851m of water was lost to leaks. These high losses have been identified as due in part to the use of inferior or inappropriate (system) metals in pipe joints and other fittings being used by municipalities including flanges, tee-pieces, reducers, and bolts and nuts all bearing short lifespans further compounded by high pressure systems and high corrosion levels in South African soils and resultant challenges in leak detection.

Southern Africa Stainless Steel Development Association executive director Mr John Tarboton said that “There is high value potential of using stainless steel material for service piping and all fittings predominately manufactured using grade 316 stainless steel in the service delivery of municipal water that can potentially save millions of rands currently lost in leakage and filtration costs, as well as see a reduction in the usage of water per capita. With the use of corrugated stainless steel piping, the need for joints in the system is reduced, allowing the corrugated stainless steel pipes to maintain their strength, improve workability and extend the piping systems service life. There is a clear case of cost savings both on the treatment of water that is lost through leakage as well as water that municipalities are unable to charge service fees for its distribution and use. Stainless steel is an optimal material in water system applications and while it comes at a price, it is an investment in the country’s infrastructure, the benefits and cost-savings which will still be seen 100 years from now.”

The Newcastle area in KwaZulu-Natal represents some of the worst cases of water waste, where three municipalities see as much as 65% of treated water leaking away or being used illegally. On the other end of the scale, the Drakenstein Municipality in the Western Cape is just one of a handful of municipalities which has the wisdom to ensure its water wise future.

When asked why his municipality is a frontrunner in the use of stainless steel applications, Drakenstein Municipality senior engineer: water services Andre Kowaleski, who has 33 years’ experience as a technical official in the municipality, comments, “Since 2002, we have applied grade 316 stainless steel in all the metal we use in our underground network or grade 304 in above-ground applications. We also use stainless steel in all our refurbishments, including the recent refurbishment of the Meulwater Reservoir, Paarl Mountain and Van Blerk Reservoir in Wellington.

“This stems from the fact that when it comes to replacement maintenance, it would be unwise to put a pipe in the ground that has an operating life of between 50 and 100 years and then have to replace fittings, such as T-pieces and connection saddles that corrode and rust away after just a few years there’s no logic in that. You must use material with a lifespan of 50-100 years.

“So even though the initial cost of stainless steel installations is considerably higher than other available materials, we are reaping the rewards of our long-term approach and currently have a 13.4% water loss figure, as compared to other municipalities’ average water loss of 39% and our figure will only improve as we continue replacing inferior fittings over the years.”

Source : Biz Community

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