Eurobench.com

voda 2 september 2020 15:35

0

Vietnamese Steelmakers Seek Import Protection

Vietnamese media reported that Vietnam’s Ministry of Industry and Trade last week extended the time of an on-going investigation to decide whether to apply anti-dumping measures for cold-rolled steel products from China, nearly a year after the investigation started. The MoIT said that the deadline for the investigation of this case would be March 2021 as it needs more time to review and clarify problems caused by the COVID-19 pandemic. The investigation was initially requested by local producers such as Posco Vietnam Co Ltd, China Steel Sumikin Vietnam JSC, and Phu My Flat Steel Ltd.

Meanwhile, local steelmakers complained in a petition sent to the MoIT last year that these imported products originating from China have been causing damage to their business and cited that these Chinese steel products have been being sold at prices 4-14 per cent lower than local ones, and 9-19 per cent lower than imports from Japan, Taiwan, and South Korea.

Source : STRATEGIC RESEARCH INSTITUTE

voda 2 september 2020 15:35

0

Vallourec Seeks Consent for Financial Restructuring

As indicated in the press release dated July 29, 2020, upon the announcement of its results for the second quarter and first semester of 2020, the company continued discussions, in particular with its reference shareholders and banks, with a view to defining a new refinancing plan. Following such discussions, the company contemplates extending the dialogue to all of its banks and bondholders creditors and other stakeholders, with a view to achieving a financial restructuring that embraces all of the borrowings at the level of Vallourec S.A. and allows it to address its upcoming maturities and rebalance its financial structure, taking into account the consequences of the Covid-19 and oil markets crises on its activity.

In this respect, Vallourec will seek the consent of its banks, in accordance with the terms of the relevant revolving credit agreements, to start these discussions.

In order to facilitate discussions with all stakeholders, the company wishes to have the ability to request the appointment of a mandataire ad hoc, which requires the consent of the bondholders of the US-law governed bonds due in October 2022 (Code: XS1700480160) and October 2023 (Code: XS1807435026), in accordance with their respective documentation.

To this end, a consultation of the holders of the said bonds will be launched on September 2, 2020. Its purpose is to obtain the consent of the required majority of the holders of each of the relevant bond series, so that Vallourec may request, if it so wishes, the appointment of a mandataire ad hoc without this constituting an event of default.

The consultation of the holders of each of these bond series will end on September 11, 2020 at 5:00 p.m., London time, subject to extension at the initiative of Vallourec. Vallourec has appointed Lucid Issuer Services as a tabulation and information agent for the purposes of this consultation (vallourec@lucid-is.com).

Vallourec confirms that it has not yet made the decision to request the appointment of a mandataire ad hoc and has not taken any steps to do so. Therefore, Vallourec continues to comply with its obligations under the said bonds.

Source : STRATEGIC RESEARCH INSTITUTE

voda 2 september 2020 15:36

0

National Steel & Agro Industries Hit Hard by COVID19 Crisis

National Steel and Agro Industries Limited informed the exchanges on Tuesday that the company's capital and financial position has been affected due to the burden of fixed overheads on the company. In the prevailing Covid-19 situation the company's revenue for the first quarter of FY21 is impacted. As the business situation is very fluctuating, the company is closely monitoring it and hoping the same could be normalized from third quarter. The company has some liquidity issues prevailing due to delay in supplies from the supplier and in the realization of receivables. However, it is trying to handle as much as possible by following the strict cash flow management practice. Because of the lockdown in the entire nation and due to continuous fixed financial burden, the inability of the company to service its debt and other financial obligations has been aggravated.

It said “Due to lockdown extended to the entire country, the supply chain has been severely affected. However, the situation is improving gradually with relaxing lockdown norms. In the current scenario the demand continues to be at a slower pace. However, the company is positive and hopes that it will get normalized soon.”

The company has resumed operations at factory considering order book and limited workforce, in a phase manner since April 25, 2020 and at administrative office at Indore since June I, 2020 adhering to the safety norms prescribed by Government of India. Based on the assessment carried out by the company on the assumptions used and based on the current indicators of future economic conditions, the company foresees a contraction in demand of steel products used in construction, roofing, household appliances, transport, packaging etc.

Source : STRATEGIC RESEARCH INSTITUTE

voda 2 september 2020 15:36

0

US Steel Production Capabilities Utilization Slips in Week35

Steel Production USAmerican Iron and Steel Institute reported that in the week ending on August 29, 2020, domestic raw steel production was 1,383,000 net tons while the capability utilization rate was 61.7 percent. Production was 1,841,000 net tons in the week ending August 29, 2019 while the capability utilization then was 79.1 percent. The current week production represents a 24.9 percent decrease from the same period in the previous year. Production for the week ending August 29, 2020 is down 2.1 percent from the previous week ending August 22, 2020 when production was 1,412,000 net tons and the rate of capability utilization was 63.0 percent. Adjusted year-to-date production through August 29, 2020 was 51,841,000 net tons, at a capability utilization rate of 66.0 percent. That is down 20.1 percent from the 64,917,000 net tons during the same period last year, when the capability utilization rate was 80.7 percent.

Broken down by districts, here's production for the week ending August 29, 2020 in thousands of net tons: North East: 113; Great Lakes: 478; Midwest: 162; Southern: 556 and Western: 74 for a total of 1383.

Source : STRATEGIC RESEARCH INSTITUTE

voda 2 september 2020 15:37

0

SSAB, LKAB & Vattenfall Starts HYBRIT Pilot Plant for Fossil Free Steel

SSAB, LKAB and Vattenfall have taken a decisive step toward fossil-free steelmaking with the start-up of HYBRIT’s globally unique pilot plant for the production of fossil-free sponge iron. Swedish Prime Minister Stefan Löfven started up the plant together with Martin Lindqvist, President and CEO of SSAB, Jan Moström, President and CEO of LKAB and Magnus Hall, President and CEO of Vattenfall. SSAB, LKAB and Vattenfall aim to create a complete value chain for fossil-free steel.

Just over 2 years ago on June 20, 2018, the ground was broken to mark the start of building the pilot plant for fossil-free sponge iron (DRI/HBI) with financial support from the Swedish Energy Agency. At the plant, HYBRIT will perform tests in several stages in the use of hydrogen in the direct reduction of iron ore. The hydrogen will be produced at the pilot plant by electrolyzing water with fossil-free electricity. Tests will be carried out between 2020 and 2024, first using natural gas and then hydrogen to be able to compare production results. The framework for HYBRIT also includes a full-scale effort to replace fossil oil with bio oil in one of LKAB’s existing pellet plants in Malmberget in a test period extending until 2021. Preparations are also under way to build a test hydrogen storage facility on LKAB’s land in Svartöberget in Luleå, near the pilot plant.

The HYBRIT initiative has the potential to reduce carbon dioxide emissions by 10% in Sweden and 7% in Finland, as well as contributing to cutting steel industry emissions in Europe and globally. Today, the steel industry generates 7% of total global carbon-dioxide emissions. With HYBRIT, SSAB, LKAB and Vattenfall aim to create a completely fossil-free value chain from the mine to finished steel and to introduce a completely new technology using fossil-free hydrogen instead of coal and coke to reduce the oxygen in iron ore. This means the process will emit ordinary water instead of carbon dioxide.

Source : STRATEGIC RESEARCH INSTITUTE

voda 2 september 2020 15:38

0

Thyssenkrupp Presents Innovative Concept for Green Transformation of Duisburg Steel Mill

Thyssenkrupp’s CEO Martina Merz presented Federal Economics Minister Peter Altmaier and North Rhine-Westphalia’s State Premier Armin Laschet the concept for the construction of the first direct reduction plant with an integrated melting unit blast furnace 2.0 at the Duisburg site. The currently unique concept of this type holds a number of advantages. It is largely based on the existing structures of Europe’s largest integrated steel production site, which means that considerably less investment and operating costs are involved. Another important advantage for the customers is the maintenance of the complete product portfolio, as the existing steel mills and processes can still be used. This efficient path towards climate-neutrality is enabled by an innovation: The solid material produced in the direct reduction plant is liquefied in an integrated melting unit. This blast furnace 2.0 produces “electrical hot metal”, which is processed in the existing metallurgical plant in an energy-efficient manner. The integrated direct reduction plant is to be operated with green hydrogen and green power in future and is an important step towards the achievement of the climate goals of the company and those defined by the Paris Agreement. Thyssenkrupp has set itself the target to reduce its CO2 emissions by 30 percent by 2030 and plans to complete the main part of the plant by 2025 and produce 400,000 tonnes of green steel. For 2030, the company aims at 3 million tons of climate-neutral steel.

The Duisburg steel production site currently accounts for around two percent of CO2 emissions in Germany. The potential for reducing CO2 is also of this magnitude if these emissions can be reduced to zero in the long term. To this end, thyssenkrupp is focusing above all on hydrogen: Tests are currently being conducted to use hydrogen in conventional blast furnace operation with the aim of reducing the CO2 footprint of steel production in the short term and producing the first quantities of CO2-neutral steel. The next milestone will be the construction of a novel integrated direct reduction plant, which allows emissions to be significantly reduced.

Another advantage of the concept is the strengthening of the Duisburg location. The Rhine-Ruhr area offers all the conditions for implementing the transformation along the steel value chain efficiently and sustainably.

Another important advantage of the concept, which is presented today, is the comparably fast ramp-up of climate-neutral steel production. The first direct reduction plant with melting unit will have an annual production capacity of 1.2 million tonnes. As long as hydrogen is not available in sufficient quantities, the plant can be operated with natural gas. This will already allow to reduce CO2 emissions considerably and to produce significant amounts of green steel – without compromising the quality of the products.

Source : STRATEGIC RESEARCH INSTITUTE

voda 2 september 2020 15:38

0

Tenaris to Expand Koppel Melt Shop in US

Tenaris has announced USD 11 million investments at its melt shop in in Pennsylvania to expand the plant’s size range capabilities. The steel shop ’s caster line will undergo upgrades to increase its steel bar size capabilities and improve safety, IT and automation systems at the mill. The expansion will allow the facility to produce bars in a wider range of sizes, while securing a reliable source of billets for Tenaris’s seamless mills in Bay City, TX, and Ambridge, PA, in the United States and Sault Ste Marie, Ont., Canada.

The project is expected to last 14 months with completion by the end of the second quarter of 2021.

Tenaris acquired the former IPSCO facility in January 2020 from PAO TMK. The improvements will add sizes 8.465 inches (215 mm) and 10.630 inches (270 mm) to the currently produced size of 6.500 inches (165mm). The upgrades include modifications to the radius of the caster, installation of new molds, a new robotic billet marking system, repairs to the cooling bed, and improvements to automation and production safety systems.

Source : STRATEGIC RESEARCH INSTITUTE

voda 2 september 2020 15:42

0

Conares Owner Mr Bhatia Plans New Steel Mill in UAE

A new steel plant coming up in Dubai has been granted 100 per cent ownership under the recently introduced UAE foreign direct investment law which allows full ownership to businesses in mainland. Conares CEO Mr Bharat Bhatia obtained the license under the new FDI regulations and will invest in a new facility with a capacity to manufacture 100,000 tonnes of steel. Conares initially built its business in the UAE through trading and re-exporting steel, supplying pipes and rebar to the UAE’s construction sector. In recent years, it has added local manufacturing, building a rebar factory and pipe mills in Jebel Ali. The company has an annual turnover of about AED 1 billion and a capacity to manufacture one million tonnes per year.

The Dubai government passed a Foreign Direct Investment law allowing for 100 per cent foreign ownership of onshore UAE companies in certain categories in 2018. In March this year, an update set out the 122 different sectors and economic activities in which 100 per cent ownership is permitted.

Source : STRATEGIC RESEARCH INSTITUTE

voda 2 september 2020 15:43

0

SCHMOLZ + BICKENBACH to Change Name to Swiss Steel Group

World leader in special long steel SCHMOLZ + BICKENBACH AG announced that Board of Directors will propose to the Extraordinary General Meeting that the name of the company shall be changed from SCHMOLZ + BICKENBACH AG to Swiss Steel Group AG.

It said “The brand of a company is a reflection of its identity. As part of the comprehensive transformation process that the company is currently pushing forward with all its energy, it is essential that this change is also reflected in the brand and name of the company. A new name signals a new beginning and a clear, future-oriented positioning as well as the goals and contribution to the company as a strong company with headquarters and stock exchange listing in Switzerland.”

Source : STRATEGIC RESEARCH INSTITUTE

voda 2 september 2020 15:44

0

Guangdong Jinshenglan Orders 4 Danieli EAFs

Four Danieli 150 tonne zero-bucket UHP EAFs with ECS system for continuous scrap preheating and charging will be installed in a new steel complex in Yunfu City in Guangdong province in China. They will feature a Diving Pool asymmetric bottom shell, Q-REG+ electrode regulation and a melt chemistry package based on fixed oxygen-and carbon-injectors plus “Palmur” supersonic sidewall lances, together with advanced automation. The sum of the installed advanced technologies will lead to high productivity, extremely efficient operating results with optimized manpower and low specific-energy consumption; a combination that renders the plant highly competitive.

Danieli’s Endless Charging System -ECS feeds pre-heated scrap to each EAF. The newest Danieli ECS conveyor provides the highest flexibility for productivity and preheating efficiency, for a wide range of scrap types.

Furnace operation and control provided by Danieli Automation will support EAF furnace operation. From electrode regulation to the online scrap recipes and furnace profiles, a wide range of support tools and embedded metallurgical models will ensure easier and more accurate decisions, reducing process variability.

The first furnace is expected to start operation at the beginning of 2021.

Source : STRATEGIC RESEARCH INSTITUTE

voda 2 september 2020 15:47

0

NLMK Supplies NGO Electrical Steel to Ruselprom Group

NLMK Group has supplied non-grain oriented electrical steel to Ruselprom, one of the largest Russian manufacturers of electrical equipment, for the production of electric propulsion motors and marine generators. This advanced steel is characterized by ultra-low specific magnetic losses: 30% lower than for its commercial counterparts. The steel’s magnetic and mechanical properties enable the production of electrical equipment that is more powerful and energy-efficient. The use of NLMK steel has enabled Ruselprom Group to discontinue the purchase of imported equivalents and to boost the competitiveness of its products.

NLMK is a leader on the Russian non-grain-oriented steel market. The company has the competencies required to develop innovative electric steels and is constantly working to develop new grades with improved properties.

Source : STRATEGIC RESEARCH INSTITUTE

voda 2 september 2020 15:50

0

Shiloh Industries Files Chapter 11 Petition

Shiloh Industries Inc announced today that it has entered into a stalking horse stock and asset purchase agreement with Grouper Holdings LLC, a subsidiary of MiddleGround Capital LLC pursuant to which Grouper will acquire substantially all of the Company’s assets, including the equity interests of certain of the Company’s direct and indirect subsidiaries for an aggregate consideration of USD 218 million in cash, subject to working capital and net debt adjustments, and assumption of certain liabilities of the Company.

To facilitate the transaction process, the Company and certain of its U.S. subsidiaries filed voluntary petitions for reorganization under Chapter 11 of the Bankruptcy Code in the US Bankruptcy Court for the District of Delaware. MiddleGround, via Grouper, will serve as the “stalking horse bidder” in a court-supervised auction and sale process. Accordingly, the proposed transaction with MiddleGround is subject to higher or otherwise better offers, Court approval and other customary conditions. The Company’s operating entities outside the U.S., while included in the agreement with MiddleGround, are not part of the court-supervised process, and its operations in Asia, Europe and Mexico are expected to continue as normal.

The Company’s operations will continue throughout the sale process and the Company will continue to meet customers’ needs. In conjunction with the proposed sale transaction, the Company has received a commitment for USD 123.5 million in debtor-in-possession financing from its existing lenders, consisting of approximately USD 23.5 million new money subfacility and a roll-up of approximately USD 100 million of commitments under the Company’s existing revolving credit facility. Upon Court approval, this new financing, combined with cash generated from the Company’s ongoing operations, is expected to be used to support the business throughout the sale process as Shiloh continues to take steps to address the ongoing challenges related to OEM production shutdowns due to COVID-19 that have affected the automotive sector in recent months.

Shiloh Industries Inc is a supplier of lightweighting, noise and vibration solutions to the automotive, commercial vehicle and industrial markets. The Company operates through Automotive and Commercial Vehicles segment. The Company offers portfolio of lightweighting solutions in aluminum, magnesium, steel and high strength steel alloys. The Company delivers these solutions through design, engineering and manufacturing of first operation blanks, engineered welded blanks, complex stampings, modular assemblies, and engineered aluminum and magnesium die casting and machined components. The Company offers its solutions through its BlankLight, CastLight and StampLight brands. The Company delivers solutions in body, chassis and powertrain systems to original equipment manufacturers. The Company also provides intermediate steel processing services, such as oiling, leveling, cutting-to-length, slitting, edge trimming of hot and cold-rolled steel coils and inventory control services.

Source : STRATEGIC RESEARCH INSTITUTE

voda 2 september 2020 15:51

0

Moody's Completes Periodic Review of Ratings of Algoma Steel Inc

Moody's Investors Service has completed a periodic review of the ratings of Algoma Steel Inc and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology, recent developments, and a comparison of the financial and operating profile to similarly rated peers. The review did not involve a rating committee. Since 1 January 2019, Moody's practice has been to issue a press release following each periodic review to announce its completion.

Key rating considerations are summarized below.

Algoma Steel is constrained by very high leverage, and expected cash usage resulting from weak steel demand, its small size (2.4 million tons/year of steel shipments), a single production site, with a single operating blast furnace, exposure to volatile steel prices, and incremental freight costs because of Algoma's location. Algoma does however benefit from raw material pricing that is tied to various index prices, relatively low cost hot rolled steel making capabilities using its Direct Strip Production Complex, government debt financing to assist with needed modernization, and adequate liquidity.

Source : STRATEGIC RESEARCH INSTITUTE

voda 3 september 2020 12:36

0

Posco Forum Discusses Survival Strategies after COVID-19

Korea Herald reported that Posco on Wednesday opened its two-day 2020 Posco Forum to diagnose the fast-changing business environment and assess the group’s future business strategies. According to the company, the livestreamed forum was organized with a limited number of in-person participants, including the presidents of Posco and affiliate companies in the Greater Seoul region alongside experts, following the strengthened social distancing measures amid the COVID-19 pandemic.

Posco Chairman Choi Jung-woo said “To overcome difficulties and continue sustainable growth as a trusted, 100-year-old company, we need an attitude of embracing continuous evolution, by understanding the changing trends and reading the values of the era. I hope this forum serves as a place for us to realistically review the nature of our job while we fulfill the demands of our interest groups and their changing thoughts.”

On the first day of the forum, the company organized lectures and debate sessions on the current business environment in the COVID-19 era, as well as survival strategies for companies. On the second day, participants are to discuss future plans and strategic directions for Posco’s major businesses.

Source : STRATEGIC RESEARCH INSTITUTE

voda 3 september 2020 12:36

0

SMS Group to Supply Ring Rolling Machine for Engine Rings to Wuxi Paike

Wuxi Paike New Materials Technology Co Ltd, based in Wuxi in Jiangsu Province in China, has placed an order with SMS group to deliver the world's largest ring rolling machine for manufacturing components for aircraft engines. The RAW 1000/800-10000/1500-EH is the first ring rolling machine in the world that is capable of rolling jet engine rings with a maximum height of up to 1,500 millimeters. This dimensional capacity will enable Wuxi Paike to manufacture the rings required for the next generations of jet engines in an efficient way.

Another major advantage for the customer is the innovative electrohydraulic direct drive concept developed by SMS group for all process axes. The RAW-EH ring rolling machine offers not only more precise control compared to hydraulic-only drives, it also enables substantial energy savings to be made. The time required to assemble and install the machine is much shorter, as it does not have a central hydraulic station and requires far less foundation pipework. The ring rolling machine ordered boasts a radial rolling force of 1,000 tons and an axial force of 800 tons. SMS group will supply the machine fully equipped with electrical equipment, hydraulics, rolling tools, and an innovative software and technology package.

As well as the main product, rings for civil aircraft jet engines that are made from difficult-to-form materials such as titanium and nickel-based alloys, the machine is also designed to roll carbon steel rings up to a diameter of ten meters. Thanks to this multi-purpose configuration, the first of its kind so far, Wuxi Paike is able to respond flexibly to both current and future market demands and manufacture a wider range of different high-end products.

Commissioning of the RAW EN is scheduled for the fourth quarter of 2021.

Source : STRATEGIC RESEARCH INSTITUTE

voda 3 september 2020 12:37

0

Formosa Ha Tinh Reports Losses in 2019

The revenue of Formosa Ha Tinh Steel Corporation in 2019 was reported to be VND 71.7 trillion (USD 3.1 billion), increasing 11.66 per cent on-year. However, the pre-tax profit of the corporation dropped VND11.5 trillion (USD 501.7 million) in 2019 and VND 2.73 trillion (USD 118.7 million) in 2018. The reason of Formosa Ha Tinh's huge losses in 2019 is the sharp increase in costs, which reduced the accumulated profit to VND 800 billion (USD 34.8 million), and its margin was 1.1 per cent only.

Formosa Ha Tinh received its investment certificate in 2008 as one of the biggest froreign-invested enterprises in Ha Tinh province, with major shareholders comprising Taiwan's Formosa Plastic holding 70 per cent, and Taiwan Steel 20 per cent, along with a Japanese steel company holding 4 per cent. Formosa Ha Tinh currently runs two blast furnaces at the annual capacity of 7.1 million tonnes of crude steel. Its output reached almost 5.1 million tonnes (up 29.6 per cent on-year) in 2019 and is expected to be 22.5 million after the third blast furnace is built.

Source : STRATEGIC RESEARCH INSTITUTE

voda 3 september 2020 12:37

0

POSCO Succeeds in Mass Producing Eco Friendly Graphite Free Cutting Steel

POSCO has succeeded in developing and mass-producing eco-friendly graphite free-cutting steel named PosGRAM, GRAphitic steel for Machinability, for the first time in the world and has set to expand sales. POSCO’s PosGRAM is expected to enhance the national industrial competitiveness, as it is to replace lead free cutting steel, which was entirely reliant on imports. Free-cutting steel is a kind of wire rod product that is specially designed to be machined by chip removal with high productivity. It is mainly used for fabricating parts for automotive and electronic & OA equipment, where complex shapes and size precision are required.

The existing free-cutting steel contained lead to improve machinability. However, during the production, processing, and recycling stages of the products, the lead is dispersed into the air as fine particles of micrometer size, thus causing various side effects, such as inflammation and damages to the nervous system of workers.

Due to these concerns, RoHS and ELV, which are international guidelines for restricting hazardous substances, has limited the amount of lead in products to 0.1%. However, in the case of lead free-cutting steel, which has no alternative, the standards allow up to 0.35%. Considering that the ban of lead-containing parts is proliferating among global companies, guidelines to regulate the overall use of lead is also expected to intensify.

POSCO’s development of the graphite free-cutting steel, PosGRAM, is significant in that it has successfully achieved better performance in machinability than lead free-cutting steel utilizing graphite, an eco-friendly material. Through heat treatment, PosGRAM displays even surfaces in any direction of its cut, enabling efficient processing. It is also suitable for fabricating precision control parts like solenoid valves as it easily magnetizes to surrounding magnetic fields.

In 2017, POSCO set to develop free-cutting steel, starting with the research of the distribution and control technology of graphite particles. Completing development and establishing standards for its mass production last year, POSCO formed a company-wide task force that would be in charge of research, sales, and production earlier this year to settle the product promptly in the market. Since receiving favorable evaluation from clients last June, POSCO has started full-fledged production.

Source : STRATEGIC RESEARCH INSTITUTE

voda 3 september 2020 12:42

0

Zekelman Industries Launches Campaign to Drive Demand for Domestic Manufacturing in US

Zekelman Industries, which includes the operating divisions of Atlas Tube, Picoma, Sharon Tube, Wheatland Tube, Western Tube, and Z Modular, has launched a national advertising campaign advocating for increasing the level of manufacturing in the US. The campaign, called “Life Reinforced,” aims to galvanize Americans inside and outside manufacturing sectors to understand the vital role manufacturing has in the economy and community. Increasing the level of domestic manufacturing and reshoring will help reverse unemployment trends, recreate self-sufficiency, and repair communities in need. It said “We stand for and advocate for people. We believe in decency, fairness and honor. We are citizens with a sense of responsibility, interested in reversing unemployment trends through reshoring manufacturing for a stronger, cleaner and more successful domestic economy. Let's connect. Let us know if you're a company creating jobs and opportunities in North America or want to get involved.”

www.zekelman.com/make-it-here/

During September and October, the campaign will generate an estimated 315 million impressions.

Source : STRATEGIC RESEARCH INSTITUTE

voda 4 september 2020 15:11

0

SSAB Joins European Clean Hydrogen Alliance

SSAB, using HYBRIT technology, which endeavors to revolutionize steelmaking, aims to replace coking coal, traditionally needed for ore-based steelmaking, with fossil-free electricity and hydrogen. SSAB has now also joined the European Clean Hydrogen Alliance. In July 2020, the European Commission presented its EU Hydrogen Strategy, underlined by the launch of the European Clean Hydrogen Alliance. The European Commission acknowledges the growing momentum for hydrogen as an essential energy carrier for the decarbonization of our society.SSAB will be a member of this network, which currently has more than 250 members.

The European Clean Hydrogen Alliance is set to facilitate the implementation of actions of the recently published EU Hydrogen Strategy. By building up a clear and concrete pipeline of renewable or low carbon hydrogen projects and investment plans, the Alliance will play a crucial role in achieving the commitment of the EU to become carbon-neutral by 2050.

SSAB is taking the lead in decarbonizing the steel industry, which today generates 7% of global greenhouse gas emissions. HYBRIT is a new revolutionary steelmaking technology. With HYBRIT technology, SSAB aims to be the first steel company in the world to bring fossil-free steel to the market already in 2026. The target is to be completely fossil free as a company by 2045.

Source : STRATEGIC RESEARCH INSTITUTE

voda 4 september 2020 15:14

0

OMK Orders DRI Plant from Danieli

The new direct reduction plant ordered by the Russian steelmaker OMK will be installed at Vyksa Steel Works. Part of the new complex for the production of slabs, seamless pipe and rail wheels, it will produce 2.5 million tonne per year of top-quality Direct Reduced Iron, used in EAF to produce the most demanding steel grades. The OMK investment and selected process route, Energiron DRI technology plus Danieli EAF, will be a benchmark for energy efficiency and environmental compliance green steel production. With a productivity of 2.5 million tons per year, the DRI plant of OMK will be the largest single-module direct reduction plant in Russia.

Energiron DRI plants allow the processing of a wide range of iron-oxide pellet qualities, which results in a strong advantage for the sourcing strategy of the steelmaker. Featuring ultra-low NOx burners and CO2 removal, Energiron DRI plants minimize the environmental emissions. Compared to a traditional integrated steel mill (BF+BOF) the carbon dioxide emissions are reduced by 64%, while other pollutants such as dioxin, PAH, etc. are almost negligible.

As with all the modern Energiron DRI plants, it allows the use of hydrogen instead of natural gas (partially or totally), pursuing the no-carbon emission concept.

Energy savings and performances will be boosted also at the steelmaking plant thanks to the HYTEMP hot-charge system, the most reliable and effective way to continuously feed the EAF with hot DRI at 600 °C.

Danieli will provide plant and equipment engineering, equipment manufacturing, supervision for erection and commissioning, and customer training.

This order follows the one recently received by Danieli for the supply of the complete meltshop and caster for the same complex.

Source : STRATEGIC RESEARCH INSTITUTE

Vertraagd	14 jun 2024 17:36
Koers	21,820
Verschil	-0,380 (-1,71%)
Hoog	22,360
Laag	21,740
Volume	4.153.452
Volume gemiddeld	2.688.328
Volume gisteren	2.243.870

11 jun	ArcelorMittal wil 1 miljard ophalen m...
03 jun	Video: AEX richting 1.000 punten en S...	1
22 mei	Mondiale staalproductie daalt opnieuw
02 mei	Beursblik: resultaten ArcelorMittal b...	1
02 mei	AEX gaat hogere opening tegemoet, ter...	4
02 mei	Meer omzet en hoger resultaat bij Arc...
01 mei	Lagere winst ArcelorMittal verwacht
23 apr	Mondiale staalproductie daalt toch weer
16 apr	Deutsche Bank haalt ArcelorMittal van...	1
12 apr	Video: cyclische aandelen bieden kansen

Arcelor Mittal « Terug naar discussie overzicht

Nieuws en info hier plaatsen (deel 4)

Meedoen aan de discussie?

Direct naar Forum

Detail

ArcelorMittal nieuws