Eurobench.com

voda 7 november 2019 07:58

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Verlies staalfabrikant ArcelorMittal loopt verder op

Ook ArcelorMittal merkt de 'perfecte storm' die over de Europese staalmarkt raast. Een afnemende vraag, lage staalprijzen en hoge grondstofkosten drukken de resultaten over het derde kwartaal. Dat maakt het grootste staalbedrijf ter wereld donderdag voorbeurs bekend.

Het bedrijf dat aan de Amsterdamse beurs is genoteerdMT:€14,52--, zag in het derde kwartaal de totale omzet uitkomen op $16,63 mrd (zo'n €15 mrd). In hetzelfde kwartaal van 2018 lag dit nog boven de $18,5 mrd. Het operationeel inkomen komt dit kwartaal uit in een voorzichtige plus van $0,2 mrd. In het voorgaande kwartaal was dit nog een verlies van $0,15 mrd. De staalzendingen zijn 7,3% lager dan in het vorige kwartaal van 2019.

Het bruto bedrijfsresultaat (ebitda) kwam uit op een slordige $1,06 mrd. In het derde kwartaal van 2018 was dit nog ruim $2,7 mrd. Een afname van 32%.

De dalingen komen niet uit de lucht vallen. Het bedrijf publiceerde maandag al de verwachting van analisten op de eigen website. De consensus voor het bruto bedrijfsresultaat lag op $930 mln.

Moeilijke marktomstandigheden

Ceo Lakshmi Mittal schrijft in de bijgevoegde verklaring dat het bedrijf 'zoals verwacht' ook in het derde kwartaal is 'geconfronteerd met moeilijke marktomstandigheden, gekenmerkt door lage staalprijzen in combinatie met hoge grondstofkosten.'

Onder de streep kwam het bedrijf uit op een nettoverlies van $500 mln. In het tweede kwartaal van 2019 was dit verlies $400 mln. In het derde kwartaal van 2018 noteerde het bedrijf hier nog zwarte cijfers en kwam toen uit op een nettowinst van $890 mln.

Mittal schrijft dat de prioriteiten van het bedrijf zijn om de kosten te verlagen, de productie aan te passen en een positieve cashflow van het bedrijf te verzekeren. 'We blijven een substantiële vrijgave van werkkapitaal verwachten in het vierde kwartaal, waardoor we de nettoschuld in vergelijking tot 2018 verder kunnen verminderen', aldus Mittal. ArcelorMittal kondigde eerder al een actieplan aan om de prestaties te verbeteren in 2020, en een vermindering van de productie.

Het Indiase concern heeft de bandbreedte van de verwachtingen naar beneden bijgesteld. Zo verwacht het bedrijf een wereldwijde groei van staalconsumptie tussen de +0,5 - +1,0%. Eerder lag de bandbreedte nog tot de +1,5%.

fd.nl/ondernemen/1323711/verlies-staa...

voda 7 november 2019 07:59

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Update: ArcelorMittal presteert beter dan verwacht

FONDS KOERS VERSCHIL VERSCHIL % BEURS
ArcelorMittal
14,524 0,00 0,00 % Euronext Amsterdam

(ABM FN-Dow Jones) ArcelorMittal heeft in het derde kwartaal van dit jaar betere cijfers gerealiseerd dat verwacht, maar heeft de groeiraming voor de mondiale staalconsumptie wel verlaagd. Dit bleek donderdag voorbeurs uit kwartaalcijfers van de staalreus.

In de afgelopen verslagperiode realiseerde ArcelorMittal een EBITDA-resultaat van 1.063 miljoen dollar, hetgeen meer was dan de 930 miljoen dollar waar analisten vanuit gingen. Over het derde kwartaal van het vorig jaar was dit nog 2.729 miljoen dollar en over het tweede kwartaal van dit jaar 1.555 miljoen dollar.

Het bedrijf schreef de daling onder andere toe aan seizoenspatronen in de leveringen en negatieve prijseffecten. In een kort commentaar daarbij stelde CEO Lakshmi Mittal dat de marktomstandigheden in het derde kwartaal lastig bleven met lage prijzen voor staal en juist hoge grondstofprijzen.

Het operationele resultaat kwam uit op 297 miljoen dollar tegen een winst van 1.567 miljoen dollar een jaar eerder en een verlies van 158 miljoen dollar over het tweede kwartaal van dit jaar.

De omzet daalde op jaarbasis van 18.522 miljoen dollar vorige jaar naar 16.634 miljoen dollar over de verslagperiode van 2019. De omzet kwam over het tweede kwartaal van dit jaar uit op 19.279 miljoen dollar.

Onder de streep restte een verlies van 539 miljoen dollar tegen een nettowinst van 899 miljoen dollar over dezelfde periode een jaar eerder en een nettoverlies van 447 miljoen dollar over 2018.

Outlook

ArcelorMittal verwacht dat de mondiale vraag naar staal iets minder hard kan groeien dan verwacht. De vraag zal in 2019 vermoedelijk groeien met 0,5 tot 1,0 procent, waar de staalreus eerder nog uitging van een groei van 0,5 tot 1,5 procent. De staallevering zal op jaarbasis nog steeds groeien.

De onderneming verwacht nu een vlakke trend in de staalleveringen, waar het eerder nog uitging van een stijging op jaarbasis.

De verwachting voor de kapitaalbehoefte is verlaagd van 5,4 miljard dollar naar 5,0 miljard dollar. De investeringen dalen naar verwachting van 3,8 miljard dollar naar 3,5 miljard dollar.

Het bedrijf blijft scherp letten op het kostenniveau en mikken op een blijvend positieve kasstroom. Het bedrijf verwacht de schuldpositie op jaarbasis verder te kunnen verlagen.

Het aandeel ArcelorMittal daalde woensdag op een groen Damrak 2,5 procent naar 14,52 euro.

Update: om meer informatie toe te voegen.

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 november 2019 09:47

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Beursblik: ING verhoogt koersdoel Aperam licht

FONDS KOERS VERSCHIL VERSCHIL % BEURS
Aperam
28,12 0,91 3,34 % Euronext Amsterdam

(ABM FN-Dow Jones) ING heeft donderdag het koersdoel voor Aperam verhoogd van 25,00 naar 26,00 euro met een onveranderd Houden advies.

"Gezonde resultaten onder moeilijke omstandigheden", aldus analist Stijn Demeester.

Na de cijfers over het "solide" derde kwartaal besloot ING de ramingen voor heel 2019 met 2 procent te verhogen. De taxaties voor 2020 en 2021 bleven ongemoeid. Ook wees Demeester op de lagere nettoschuld van de fabrikant.

Het aandeel Aperam steeg donderdag 3,4 procent naar 28,14 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 november 2019 09:47

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'Sterke cijfers ArcelorMittal'

Gepubliceerd op 7 nov 2019 om 09:43 | Views: 0

ArcelorMittal 09:29
15,58 +1,06 (+7,28%)

AMSTERDAM (AFN/BLOOMBERG) - De kwartaalresultaten van staalconcern ArcelorMittal waren veel beter dan verwacht en zullen waarschijnlijk leiden tot een opwaartse bijstelling van de consensus voor het bedrijfsresultaat in het gehele jaar. Dat schrijft Citi in een reactie op de handelsupdate.

Het bedrijfsresultaat (ebitda) was bijna 1,1 miljard dollar, terwijl in de markt op gemiddeld 940 miljoen dollar werd gerekend. Volgens Citi presteerde het bedrijf ook beter dan verwacht met de kasstroom en schuld. Het aandeel ArcelorMittal ging donderdag in de vroege handel met bijna 8 procent omhoog tot 15,66 euro. Daarmee was het met afstand de sterkste stijger in de Amsterdamse AEX-index.

[verwijderd] 7 november 2019 09:48

0

(ABM FN-Dow Jones) De kwartaalresultaten van ArcelorMittal zijn op alle vlakken beter dan verwacht, met uitzondering van de mijnbouwactiviteiten. Dit is donderdag de conclusie van ING.

De bank is minder positief over de outlook van het staalconcern waarin het de groeiverwachting voor het mondiale staalverbruik verlaagde van 0,5 tot 1,5 procent naar 0,5 tot 1,0 procent.

ING was met name te spreken over de schuldpositie en de verwachting dat in het vierde kwartaal uit het werkkapitaal nog een meevaller van 1,4 miljard dollar voortvloeit.

ING hanteert een koopadvies op het aandeel ArcelorMittal met een koersdoel van 18,00 euro.

voda 7 november 2019 16:23

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ArcelorMittal beats expectations despite weak U.S., Europe
Philip Blenkinsop
3 MIN READ

BRUSSELS (Reuters) - ArcelorMittal, the world’s largest steelmaker, cut its forecasts for demand in its main U.S. and European markets but reported a higher-than-expected core profit.

The Luxembourg-based company said on Thursday its third-quarter core profit (EBITDA), the figure most watched by the market, was $1.06 billion, compared with the average forecast in a company poll of $930 million.

ArcelorMittal shares were up 8.2% at 15.70 euros at 0720 GMT, making them among the strongest performers in the FTSEurofirst 300 index of top European shares. The seesaw stock is 29% higher than a month earlier, but 31% lower year-on-year.

“There is a lot of pressure on European steel spreads. There’s nothing positive on selling prices. Clearly they have done a good job managing their cost base,” Commerzbank analyst Ingo Schachel said.

ArcelorMittal said global steel consumption, including the impact of inventory changes, would grow in 2019 by 0.5-1.0%, towards the lower end of its previous guidance of 0.5-1.5%.

Reporting a net loss of $539 million for the third quarter - a second straight quarter in the red - it said it now expected a reduction in U.S. steel demand due to a weak auto sector and a slowdown in demand for machinery. Non-residential construction was healthy, however.

It also said the contraction in steel demand in Europe would be worse than expected due to a sluggish auto sector and slowing construction. ArcelorMittal has already idled a series of steel plants in Europe.

The company did upgrade its forecasts for the former Soviet Union and China, the world’s largest producer and consumer of steel. But ArcelorMittal ships almost half its steel to European customers, around a quarter to the United States and has negligible business in China.

The company, which produces around 5% of global steel, said it now expected its own shipments to be stable this year, having previously forecast a year-on-year increase.

Chief Executive Lakshmi Mittal said in a statement that ArcelorMittal had anticipated a tough market as low prices and high raw materials costs squeezed margins.

The company’s net debt, a key metric for markets, increased by $0.5 billion to $10.7 billion. It has a target to pull it below $7 billion.

The company said it would release at least $1.4 billion of working capital in the fourth quarter to enable it to reduce net debt further. Cash needs and capital expenditure would be lower than previously expected.

Reporting by Philip Blenkinsop; Editing by Dale Hudson and Kim Coghill

Our Standards:The Thomson Reuters Trust Principles.

www.reuters.com/article/us-arcelormit...

voda 7 november 2019 16:24

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ArcelorMittal beats lowered expectations but sees weak steel demand
Nov. 7, 2019 7:41 AM ET|About: ArcelorMittal (MT)|By: Carl Surran, SA News Editor
ArcelorMittal (NYSE:MT) +8.1% pre-market after Q3 core earnings totaled $1.06B, falling 61% from $2.73B in the year-ago quarter but beating the $930M average forecast in a company compiled poll.

Citigroup analysts say steel deliveries in Europe were better than expected, and the higher earnings helped the company lower its debt levels, while Jefferies points to stronger cost controls as the reason for the better than expected EBITDA result.

"Expectations were very low" going into Q3, an ING analyst says. "The sky in the steel space isn't falling down."

MT's Q3 net loss totaled $539M compared with a profit of $899M a year earlier, while revenues fell 10% Y/Y to $16.63B from $18.52B in the prior-year quarter.

But the company lowers its outlook for global steel demand, now forecasting 0.5%-1% growth in 2019, towards the lower end of previous guidance of 0.5%-1.5%.

MT expects the contraction in European steel demand will be worse than expected due to a sluggish auto sector and slowing construction; the company ships nearly half its steel to European customers and ~25% to the U.S.

seekingalpha.com/news/3516297-arcelor...

voda 7 november 2019 16:25

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ArcelorMittal Trims Forecast for Steel Demand

(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.

ArcelorMittal surged the most in more than two years after reporting profit that beat the highest analyst estimate, even as the company lowered its outlook for global steel demand.

Citigroup Inc. said steel deliveries in Europe were better than expected, and the higher earnings helped ArcelorMittal reduce its debt levels. Jefferies Group pointed to stronger cost controls as the reason for the profit surprise.

The results suggest ArcelorMittal, the world’s biggest steel producer, was able to surpass a lowered bar that analysts had set in a challenging environment for steel. Trade disputes have taken a toll on manufacturing demand, especially in the auto sector, and competition against cheaper imports has left the European steel industry in crisis.

ArcelorMittal surged as much as 8.7%, the most since February 2017. The company reported third-quarter earnings before interest, taxes, depreciation and amortization of $1.06 billion, a 61% drop from a year earlier. Analysts had expected $943.2 million.

“Expectations were very low going into the third quarter,” said Stijn Demeester, an analyst at ING. “The sky in the steel space isn’t falling down.”

Other steelmakers climbed as well. Voestalpine AG added 3.3%. Aperam S.A., a Luxembourg-based producer, gained 2.9%, extending a rally from yesterday when it also beat profit estimates.

Despite the cheer from investors today, the outlook for steel still looks grim. ArcelorMittal now sees demand in the U.S. shrinking this year, as buyers reduce stockpiles. It also cut its forecast for Europe and trimmed the top end of the global demand outlook range. Excluding China, consumption is seen flat year-on-year.

“Demand in our core markets of Europe and the U.S. has remained weak, reflecting depressed manufacturing activity and continued weakness in automotive, compounded by customer destocking,” the company said.

ArcelorMittal now sees European steel consumption dropping by up to 3% this year, the most since 2012.

One bright spot in ArcelorMittal’s outlook was China, where the company now expects an increase in consumption of as much as 2% this year. The nation’s real estate demand continues to remain robust, it said.

(Updates with other mining stocks.)

To contact the reporter on this story: Elena Mazneva in London at emazneva@bloomberg.net

To contact the editors responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net, Liezel Hill

For more articles like this, please visit us at bloomberg.com

©2019 Bloomberg L.P.

finance.yahoo.com/news/arcelormittal-...

voda 7 november 2019 16:36

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Tata Steel Announces Q2 Results

Tata Steel has reported consolidated financial results for the quarter and half year ended September 30, 2019. Mr TV Narendran, CEO & Managing Director, said "The business environment in India and other geographies continued to be challenging and weighed heavily on steel prices. Tata Steel worked closely with customers across business segments to drive sales and maintain volumes. We are focused on driving productivity improvements across our various operations as well as the supply chain to reduce costs and minimize the impact on margins. We hope the end of monsoon season and the onset of festive demand leads to a pick-up in overall consumption and the steel demand. Our acquisitions continue to stabilize and improve on their operating performance. Our Kalinganagar Phase 2 expansion program is progressing well and we are prioritizing the Pellet plant for cost reduction and the CRM plant for value addition. We are also re-organizing our India footprint in four verticals to drive scale, synergies and simplification which will create value for our stakeholders.”

Key Highlights

Consolidated steel production stood at 6.95 million tonnes while deliveries grew by 3%QoQ to 6.53 million tonnes

India steel production stood at 4.50 million tonnes while Indian deliveries increased 4%QoQ to 4.13 million tonnes operations and contributed -63% of consolidated deliveries

Consolidated revenues were INR 34,579 crores while India revenues stood at INR 20,204 crores

Consolidated adjusted EBITDA was INR 4,018 crores and India adjusted EBITDA was INR 3,817 crores

Consolidated reported PAT was INR 3,302 crores; India reported PAT was INR 3,400 Crores. During the quarter, the Company had a favorable tax impact of INR 4,233 crores, of which INR 2,425 crores was on adoption of the new corporate tax rate by Tata Steel Standalone and some subsidiaries in India and INR 1,808 Crores was on account of recognition/reversal of deferred tax assets and liabilities in offshore subsidiaries.

Tata Steel said “During the quarter, economic growth across geographies slowed down as trade frictions outweighed accommodative monetary policies across key markets. Over the last year, steel prices declined by more than USD 100 per tonn in key geographies amidst weak demand. Softening coking coal and iron ore prices helped regional spot steel spreads improve from the lows of 1QFY20, however, a meaningful benefit should flow through in the next few quarters. In India, economic activities remained soft, largely due to persistent liquidity issues, weakness in investment and consumption sentiment, and seasonal impact with heavy and prolonged monsoons. During the quarter, Indian steel players grappled with declining margins as domestic steel prices corrected sharply amidst continued demand weakness and high inventories.

Voor cijfers, zie PDF.

Source : Strategic Research Institute

Bijlage:

voda 7 november 2019 16:38

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Steel Consumption in India to Jump - Mr Dharmendra Pradhan

India’s Steel Minister Mr Dharmendra Pradhan said that steel consumption in India is set for a quantum jump and investors should come forward and become a partner in the India's growth story. He said "There is a strong positive correlation between steel usage and a nation's economic growth. As India embarks on its next trajectory of growth fuelled by the government's focus on building infrastructure for future, creating smart cities, industrial corridors and so forth, the steel consumption in the country is set for a quantum jump. India's economic growth will be driven by heavy investment in infrastructure, digital economy and job creation in small and medium firms. Our initiatives such as 'Make in India' aim to support and encourage domestic value addition. Our government has been making concerted efforts to make India an attractive investment destination for businesses by providing investment-friendly governance. Political stability, predictable policies and a huge diverse market make India an attractive investment destination for global investors."

He was addressing an event organized by International Chromium Development Association

Source : PTI

voda 7 november 2019 16:38

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Mr Amit Sen Assumes Charge as Director Finance SAIL

Mr Amit Sen has taken charge as Director Finance of Steel Authority of India Limited on 5th November, 2019. He is a Chartered Accountant with over 31 years of experience in the manufacturing sector, handling various areas of finance function. Mr Sen joined SAIL in the year 1993 as an Assistant Manager at Bhilai Steel Plant. Prior to joining SAIL, he worked with Lovelock & Lewes Kolkata and BHEL. With his extensive experience of handling finances at Bhilai Steel Plant and a stint as Chief Financial Officer at SAIL Refractory Company Limited, Mr Sen has vast knowledge and acumen in financial management. His areas of expertise include cost management and commercial functions – especially the financial and commercial aspects of large turnkey contracts. He has also made significant contributions to the profitability of SAIL through revisit of existing practices and aligning them with best practices.

Before assuming the current position, he was the Chief General Manager I/c (Finance) at the SAIL Corporate Office, New Delhi.

Source : Strategic Research Institute

voda 7 november 2019 16:39

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India’s Steel Ministry Publishes Steel Scrap Recycling Policy

India’s steel ministry has notified the Steel Scrap Policy assigning the tasks each ministry would do to increase availably of the scrapped material by another 7 million tonnes.. The Policy envisages to set up Environmentally Sound Management system for ferrous scrap which can encourage processing & recycling of ferrous scraps through organized and scientific metal scrapping centers across India to minimize dependency on import of scrap and make India self-sufficient in scrap availability. Ministry of Steel or its appointed agency or other designated statutory bodies shall ensure that the policy is implemented in accordance with the state of the art environmental friendly technologies and in compliance with applicable Acts, rules, and regulations.

According to the policy, currently around 25 million tonnes of scrapped steel comes from the domestic unorganized industry and import of 7 million tonnes scrap costs about INR 24,500 crore annually.

The policy said to meet this requirement around 70 collection and dismantling centres would be required.

Source : Strategic Research Institute

voda 7 november 2019 16:40

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Primetals Technologies to Supplies Arvedi ESP Line to steel producer in Chinese Hebei Province

A Chinese steel producer located in Hebei Province has placed an order with Primetals Technologies for the supply of an Arvedi Endless Strip Production line. The casting-rolling facility will be part of a new steelmaking facility with one BOF currently under construction. The Arvedi ESP line is capable of rolling strip to a reproducible strip thicknesses down to 0.7 mm. This will enable the company to produce high-quality, ultra-thin strip to enter new market segments. Compared to conventional casting and rolling processes, energy consumption and the related costs are reduced by up to 45%. This also results in a major reduction in CO2 and NOx emissions, minimizing environmental impact. The plant is scheduled to go into operation in 2021.

The Arvedi ESP plant will allow the steel producer to better serve the highly attractive local and export markets for high-quality, thin-gauge strip products. The 180-meter-long plant is far more compact than conventional casting and rolling mills. The new plant is designed for the production of high-quality, ultra-thin, hot-rolled strip products with widths of up to 1,600 mm and thicknesses down to 0.7 mm. Carbon steels, high-strength low alloyed (HSLA)
grades and dual-phase steels will be produced.

Primetals Technologies is responsible for the engineering of the Arvedi ESP plant and will supply mechanical equipment, media-control systems, technological packages and automation systems. The entire line is controlled by a completely integrated basic (Level 1) and process optimization (Level 2) automation, which fully controls all casting and rolling operations.

Source : Strategic Research Institute

voda 7 november 2019 16:41

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Klöckner & Co Reports Lean Earnings in Q3 of 2019

As a result of low steel prices and weak demand, Klöckner & Co recorded a significant year-on-year decrease in operating income before material special effects to EUR 26 million in the third quarter of 2019 (Q3 2018: EUR 59 million). The Company generated a net loss of EUR 23 million, compared with net income of EUR 22 million in the prior-year period.

The sales share generated via digital channels further increased to 30% (Q3 2018: 22%). In addition, another major partner has been recruited in the shape of edding AG, the internationally leading specialists in color application and visual communication. The company has already begun selling products on the Klöckner marketplace.

Digital subsidiary kloeckner.i has launched an artificial intelligence project for Klöckner & Co customers to become digital customers without altering their procurement processes. They can send quotation requests or orders to Klöckner by email with PDF attachments, by fax or phone as before and receive an offer or order confirmation in real time. The fully automated processing will not only significantly reduce manual effort, it will also considerably accelerate the entire ordering process from quotation request to offer preparation and order placement.

The product range on the independent industry platform XOM Materials has also been further expanded to over 10,400 different products. No fewer than 30 of the 43 distributors that have been signed in Europe and North America are already linked up with the platform.

Klöckner & Co anticipates that prices and quantities will decrease in the fourth quarter, both in Europe and in the USA. Taking these trends into account, the Company expects EBITDA for the full year 2019 of between EUR 120 million and EUR 130 million before material one-off effects (2018: EUR229 million).

Source : Strategic Research Institute

voda 7 november 2019 16:41

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AK Steel Appoints Mr Christopher Ross as Interim Chief Financial Officer

AK Steel announced that Mr Jaime Vasquez, Vice President, Finance and Chief Financial Officer, will retire effective November 30, 2019 and will continue to assist with the transition of his responsibilities over the next few months and that Mr Christopher J. Ross, AK Steel Vice President and Treasurer, has been named Vice President, Treasurer and Interim Chief Financial Officer effective immediately. In addition, Mr Joseph C Alter, Vice President, General Counsel, and Corporate Secretary, will take on responsibility for Purchasing and Mr Brian K Bishop Vice President Carbon Steel Operations will assume responsibility for Information Technology.

Chris was named Vice President and Treasurer in January 2018. Prior to that role he served as Treasurer since 2016 and General Manager, Cash Management since 2012. Chris has served in a number of financial and strategic roles since joining the company over 20 years ago, including strategic planning, financial planning and analysis, products and marketing, investor relations and accounting. He began his AK Steel career in 1997 as a Cost Accountant at Middletown Works. Outside of his AK Steel career, Chris served as Director of Investor Relations for Omnicare, Inc. and held Credit and Portfolio Manager positions with U.S. Bank and J.P. Morgan. Chris holds a Bachelor of Arts degree in Economics and an MBA in Finance from the University of Cincinnati.

Source : Strategic Research Institute

voda 7 november 2019 16:42

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Olympic Steel Names Mr Daniel E Harnois as GM of Berlin Metals

Leading national metals service center in US Olympic Steel Inc announced the appointment of Mr Daniel E Harnois to General Manager, Berlin Metals, effective November 1, 2019. In this position, Harnois will be responsible for driving profitable growth for Berlin Metals, and he will report directly to Andrew Wolfort, Regional Vice President and General Manager. Berlin Metals is an Olympic Steel company that specializes in Tin Mill Products, Stainless Steel Strip, Cold Rolled Steel and Galvanized Steel.

Before joining Olympic Steel, Harnois held several management positions with other sales teams across the metals industry. He most recently served as the Director of Sales at Outokumpu, a global provider of stainless steel. In that position, his team was responsible for all flat-rolled sales for the eastern and western United States in addition to parts of Canada. Prior to his position at Outokumpu, Harnois served as regional sales manager for Aleris International, where he oversaw the sales of all mill products in the Midwest region.

Harnois attended Purdue University and Suffolk University, where he majored in Public Administration.

Source : Strategic Research Institute

voda 7 november 2019 16:43

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GMS Market Commentary on Shipbreaking in Week 44 in India - Absent Alang

As Diwali holidays got under way during the early part of the week, Indian Buyers remained largely absent from the buying for the most part. Unfortunately for them, given this markets pricing and performance for much of the recent past, it likely did not make much of a difference to those Ship Owners and Cash Buyers, looking to offload their share of non-green units. The only supply of units that are currently seeing risible rates into the mid USD 300s/LDT are HKC SoC vessels, in what has been a second half to the year of constant declines and falls, from a shaky India. The only positivity this week was the marginal increase in local plate prices that saw a relatively miniscule firming, to the tune of USD 3/Ton.

While this improvement would not be anything worth writing home about, given India’s relentless decline of nearly USD 80/Ton since early July, even marginal improvements such as these do their share in (positively) affecting the local mindset.

Overall, with other markets also struggling at present, it could be a bleak finish to the year in Alang, ahead of a “still hoped for” recovery in prices / demand and sentiments, going into the seminal year of 2020.

Source : Strategic Research Institute

voda 7 november 2019 16:43

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Nippon Steel Logistics & Nippon Steel Nisshin Logistics to Integrate

Nippon Steel Corporation’s subsidiary Nippon Steel Logistics Co Ltd and of Nippon Steel Nisshin Co Ltd’s subsidiary Nippon Steel Nisshin Logistics Co Ltd have resolved for their integration and reorganization by around April 1, 2020 and exchanged a basic agreement on the integration and reorganization. While the environment surrounding logistics is increasingly harsh, the Nippon Steel Group aims at further raising efficiency in logistics, enhancing its business infrastructure, and promptly generating maximum synergies by the integration and reorganization of Nippon Steel Logistics and Nippon Steel Nisshin Logistics.

Companies involved in business integration
Nippon Steel Logistics Co Ltd (Nippon Steel Corporation’s ownership ratio: 100%)
Nippon Steel Nisshin Logistics Co Ltd (Nippon Steel Nisshin Co Ltd’s ownership ratio: 100%)

Date of integration - April 1, 2020 (plan)

Strategic Research Institute

voda 7 november 2019 16:44

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US Steel Capacity Utilization Stays Above 80% in Week 44- AISI

AISI reported that in the week ending on November 2, 2019, domestic raw steel production was 1,888,000 net tons while the capability utilization rate was 81.6 percent. Production was 1,887,000 net tons in the week ending November 2, 2018 while the capability utilization then was 80.5 percent. The current week production represents a 0.1 percent increase from the same period in the previous year. Production for the week ending November 2, 2019 is up 1.2 percent from the previous week ending October 26, 2019 when production was 1,866,000 net tons and the rate of capability utilization was 80.7 percent.

Adjusted year-to-date production through November 2, 2019 was 81,599,,000 net tons, at a capability utilization rate of 80.3 percent. That is up 2.5 percent from the 79,581,000 net tons during the same period last year, when the capability utilization rate was 77.5 percent.

Broken down by districts, here's production for the week ending November 2, 2019 in thousands of net tons: North East: 190; Great Lakes: 676; Midwest: 181; Southern: 767 and Western: 74 for a total of 1888.

Source : Strategic Research Institute

voda 7 november 2019 16:50

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Pakistan Steel Producers Offer Discount on Flat Steel

Express Tribune reported that owing to declining demand coupled with a slowdown in the international market, steel producers in Pakistan are offering a discount of PKR 5,000 per tonne on the sale of flat steel. Prior to the discount, the prices of cold-rolled coils and hot-dipped galvanised coils were hovering at PKR 108,500 and PKR 115,850 respectively. JS Global in its research report said that “Producers of flat steel namely International Steels and Aisha Steel Mills have started offering a discount of PKR 5,000 per ton on both cold-rolled coils as well as hot-dipped galvanised coils. The decision has been taken mainly keeping in view the availability of cheaper coils, imported from South Africa and Europe, in the local market.”

On the other hand, global steel prices are falling on the back of a prolonged US-China trade war, therefore, the massive discount seems to be an impact of the international situation on Pakistan’s market. In early September, steel scrap prices in the global market dropped over USD 50 while in the past 10 months, the prices dipped USD 238 per tonne.

Source : Express Tribune

Vertraagd	10 mei 2024 17:35
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