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voda 29 april 2022 07:50

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Steel Minister Launches Rebar Mill at JSPL’s Angul Plant

Strategic Research Institute
Published on :
29 Apr, 2022, 5:34 am

India’s Steel Minister Mr Ram Chandra Prasad Singh has dedicated Jindal Steel and Power Ltd's 1.4 million tonne per annum rebar mill at JSPL's 6 million tonne per annum steel plant in Angul in Odisha. The rebar mill is one of the world's largest rebar making units and the only producer of 50 mm diameter rebar in India. Mr Singh said “India has become the second-largest steel producer in the world, leaving behind major economies. The maximum amount of steel has been produced from Odisha. I appreciate Naveen Jindal for building such a beautiful mega steel plant in Odisha.”

He also appreciated JSPL’s plan to expand the capacity of the steel plant to 25.2 million tonne per annum. He said “By 2030, about 10 percent of India’s steel will be produced from Angul, Odisha by JSPL.”

Steel Minister also visited JSPL's 2 million tonne per annum Coal Gasification Plant located within the steel unit. The Coal Gasification Plant uses high ash, locally available non-coking coal to supply synthesis gas to the world’s first syngas-based DRI plant. The coal gasification plant is equipped with carbon capture technology. It captures approximately 2,000 tonnes of CO2 per day, helping reduce carbon footprint significantly.

JSP has successfully established and is operating 6 million tonne per annum Integrated Steel Plant at Angul. It is the largest steel plant in Odisha. JSPL is expanding its Angul Plant capacity from 6 million tonne per annum to 12 million tonne per annum and the company will achieve an overall 15 million tonne per annum steelmaking capacity by 2025. JSP has the vision of expanding the capacity of the Angul Steel Plant to 25.2 million tonne per annum which will be the largest steel plant in the Country.

voda 29 april 2022 08:13

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Billet prices slide in GCC, buyers postpone enquiries
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Billet prices have softened in the Gulf Cooperation Council; however, buying appetite remains low and buyers are postponing their enquiries till after the Eid holiday.

Iranian billet offers are down $30-45/tonne on-week to $710-715/t cfr Oman and United Arab Emirates, for end-May shipment, suggesting the duty imposed on Iranian billet exports has not much affected Iranian billet quotes. Complications in making payment to Russian mills are limiting the flow of low-priced Russian billet into the region, Kallanish notes.

In Oman, local billet producers have reduced their 150mm 3sp modified grade billet target prices to $740-765/t ex-mill. An electric arc furnace mill has concluded a few deals overseas and in regional countries, heard at $770/t fob Oman. Last week, the target price of the mill was at $800/t fob.

In UAE, local induction furnace billet offers are heard at $750-755/t ex-works for May shipment, whereas Russian 150mm 3sp modified billet is at $735-740/t cfr UAE for June shipment.

"We are hesitant about how payment would be made for Russian material. Our banks warned us about the sanctions on trade with Russia, so in order not to take the risk, we are keeping a distance to [Russian] offers," explains a UAE trader.

For May shipment, a local EAF billet producer is heard setting its price at $790/t fob Bahrain. However, only small-tonnage allocations are available.

In Iran, a 40,000-50,000-tonne billet tender was recently heard concluded at $650-660/t fob, equating to $720-730/t cfr Southeast Asia.

According to local Iranian sources, an 8% export duty will be levied on billet prices effective from next week, reduced again from the already revised 11% duty announced on Wednesday (see Kallanish passim).

"Coming to the end of Ramadan, the market is quiet,” comments a senior GCC mill official. “The mills [re-rollers] have adopted a wait-and-see policy until the end of the week-long Eid holiday, which will start on Monday next week. After 9 May, we will see more lively trade and floated enquiries.”

In Saudi Arabia this week, the billet market has been asleep, with prices unchanged on-week at SAR 2,900-2,950/t ($773-787) ex-mill for 150mm 4sp billet. However, there is an anticipation of price softening by SAR 50-100/t ($13.3-26.6), to align with neighbouring countries, once the Eid holiday is over.

Burak Odabasi Turkey

voda 2 mei 2022 07:34

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Reliance Steel & Aluminum Reports Robust Result in Jan-Mar Quarter

Strategic Research Institute
Published on :
02 May, 2022, 5:18 am

US’s steel service center & processor Reliance Steel & Aluminum has reported record quarterly sales of USD 4.49 billion in January-March 2022 quarter & tons sold up 10.7% from Q4 2021, yielding record quarterly gross profit of USD 1.39 billion driven by strong gross profit margin of 30.9% resulting in record quarterly pretax income of USD 697.2 million and margin of 15.5%. Reliance Steel & Aluminum Chief Executive Officer Mr Jim Hoffman said “Outstanding operational execution throughout our family of companies in the first quarter led to a continuation of the record results we achieved in 2021 and once again demonstrated the durability and effectiveness of our business model. Notwithstanding ongoing macroeconomic challenges, our performance was supported by positive underlying trends including continued strong demand with improving shipment levels in each month of the quarter, along with ongoing strength in metals pricing. Our results also benefitted from our strategic diversification of products, end markets and geographies, as well as strong ongoing support from our domestic suppliers and valued relationships with our loyal customers. These factors collectively contributed to another quarterly net sales record of USD 4.49 billion.”

Reliance services diverse end markets and provides a wide range of products and processing services, generally in small quantities on a when-needed basis. The Company’s tons sold in the first quarter of 2022 increased 10.7% compared to the fourth quarter of 2021; surpassing Reliance’s expectations of up 5% to 7% due to incremental improvements in daily shipment levels. Reliance believes its first quarter shipment levels reflect strength in underlying demand across the majority of the end markets it serves, and remains cautiously optimistic that shipment levels will continue to improve throughout 2022.

Demand in non-residential construction (including infrastructure), Reliance’s largest end market, improved in the first quarter, with notable strength in March. Reliance remains cautiously optimistic that demand for non-residential construction activity in the key areas in which the Company participates will continue to strengthen in 2022, supported by strong booking trends.

Demand for the toll processing services Reliance provides to the automotive market remained healthy during the first quarter despite supply chain challenges, including the continued impact of the global microchip shortage on production levels. Reliance is cautiously optimistic that demand for its toll processing services will remain solid throughout 2022.

Underlying demand in heavy industry for both agricultural and construction equipment continues to improve from strong levels, with a significant increase in Reliance’s shipment levels compared to the fourth quarter of 2021. Similarly, demand across broader manufacturing sectors, including industrial machinery and consumer products, continues to improve. Reliance expects positive underlying demand trends in these industries to continue through most of 2022.

Semiconductor demand remained robust during the first quarter and continues to be one of Reliance’s strongest end markets, which is expected to continue throughout 2022. As a result, Reliance is continuing to invest in increasing its capacity in this area to service the significant semiconductor fabrication expansion in the United States.

Demand in commercial aerospace continued to improve during the first quarter as increased activity led to meaningfully higher shipment levels compared to both the first and fourth quarters of 2021. Reliance is cautiously optimistic that demand in commercial aerospace will continue to steadily improve throughout 2022 as build rates increase. Demand in the military, defense and space portions of Reliance’s aerospace business remained solid with strong backlogs, which is expected to continue throughout the year.

Demand in the energy (oil and natural gas) market experienced continued improvement in the first quarter due to increased activity resulting from higher oil and natural gas prices. Reliance is cautiously optimistic demand will continue to recover throughout 2022.

Business Outlook - Reliance remains optimistic about business conditions in 2022 with solid underlying demand trends expected to continue across the vast majority of the key end markets it serves. As a result, the Company estimates tons sold will be flat to up 2.0% in the second quarter of 2022 compared to the first quarter of 2022. In addition, Reliance expects its average selling price per ton sold for the second quarter of 2022 to be flat to up 2.0% compared to the first quarter of 2022 driven by the Company’s diverse product mix and continued strength in demand and pricing.

voda 2 mei 2022 07:38

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Mechel’s ChMK Implements Project to Reduce Wastewater Discharge

Strategic Research Institute
Published on :
02 May, 2022, 5:21 am

Russian steel maker Mechel’s Chelyabinsk Iron and Steel Works has completed the next stage of modernization of pumping station No 55. A pipeline almost 3.5 kilometers long was laid and put into operation on the territory of the plant. The implementation of the project will make it possible to reduce the volume of wastewater discharge from the Balandinsky Pond into the Miass River by 2 times and to reduce the volume of water intake from the river by 25%. The plant's pumping station provides water to the steel and rolling shops. Water is taken from the Balandinsky settling pond for use in metallurgical production and equipment cooling. The upgraded pumping station will have increased capacity and pump more water. The project will provide a closed production cycle and allow virtually no water intake or discharge into Miass.

The next stages of the project will be the construction of a cable rack to power the new pumping station, as well as the installation of pumping units and electric motors.

voda 2 mei 2022 07:41

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Origami’s Innovative Steel Frame for Solar Panels in Final Round

Strategic Research Institute
Published on :
02 May, 2022, 5:24 am

Bend Oregon based developers of a patent-pending steel frame for solar modules that lowers cost, dramatically reduces carbon emissions, and improves performance and value Origami Solar has advanced to the final round of the US Department of Energy’s American-Made Solar Prize competition. One of ten Hardware Track teams named finalists, Origami was awarded a USD 100,000 prize to advance its innovation from proof-of-concept to production-ready for the final phase of the contest.

Origami Solar’s patent-pending approach combining innovative engineering and design with the capabilities of precision roll-forming and utilization of domestically available recycled steel delivers performance equal to or better than aluminum frames, while lowering material costs and significantly reducing production greenhouse gas emissions. This innovative module frame is readily manufacturable and will meet or exceed all UL and IEC standards. Since being named a semi-finalist in December, Origami’s rigorous advancement and testing has confirmed several unique benefits, including

The company’s novel design gives its frame high strength and stiffness while minimizing the amount of steel required; roll forming results in more than 10 tight folds in a two square inch cross-sectional area

The patent-pending steel module frame performs equal to or better than traditional aluminum frames while significantly reducing production-related GHG emissions

Third-party consulting firm TESCI Solar found that, for load bearing requirements, the Origami 35mm frame has equivalent performance characteristics to a standard 40mm aluminum frame, allowing producers to provide a “higher shipping density product without sacrificing strength or performance”

A robust steel ecosystem is available globally, eliminating emissions produced by shipping imported aluminum module frames, which are produced almost exclusively in China

Utilization of steel anti-corrosion coatings like galvanized or zinc-aluminum-magnesium enables steel components to last for 30 years or more

Origami will present its solution one last time at the DOE’s Go! Demo Day in September 2022. Ultimately, two teams will win the grand prize, each receiving an additional USD 500,000 and a USD 75,000 support voucher to help them bring their technologies to market.

voda 2 mei 2022 07:41

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Waste Recycler Befesa Delivers Record EBITDA in Jan-Mar Quarter

Strategic Research Institute
Published on :
02 May, 2022, 5:27 am

Luxembourg headquartered leading provider of hazardous waste recycling services enabling the circular economy within the steel and aluminium industries Befesa SA has delivered its strongest quarterly results in the company's history, with Q1 adjusted EBITDA of EUR 61.1 million, up 25% versus Q1 of 2021, supporting a positive business outlook for the financial year 2022. The YoY positive earnings development in Q1 of 2022 was primarily driven by the strong base metal prices and good volume performance. This included the contribution from US zinc operations and initial volume from the first China plant, more than offsetting energy inflation and higher zinc treatment charges considered at USD 230 per tonne. Overall plant utilization was high at pre-pandemic levels, with Steel Dust at around 88% and Aluminium Salt Slags & SPL at around 80%. Zinc LME prices averaged at EUR 3,337 per tonne in Q1, up 46% YoY & Zinc TC were considered at USD 230 per tonne with escalators retroactively from Jan'22 and for full year 2022

Aluminium alloy FMB prices also traded at the highest levels on record and were up 33% over the same period at EUR 2,627 per tonne. During the first three months of 2022, Befesa continued its hedging rigour and sold further zinc volume forward, up to and including January 2025. Befesa closed the quarter with record cash on hand of EUR 237 million, up EUR 13 million from year end.

Looking ahead, Befesa expects to deliver double-digit earnings growth again in 2022, driven by the execution of its expansion projects and supported by the resilience of its business, diversified global footprint and robust cash management. Befesa expects FY 2022 EBITDA between EUR 220-270 million, delivering 11-37% YoY growth. The wide guidance range is mainly driven by market (volume), energy and base metal price volatility

Befesa is a leading player in the circular economy, providing environmental, regulated services to the steel and aluminium industries with facilities located in Germany, Spain, Sweden, France, as well as in Turkey, South Korea, China and the US. Through its two business units, Steel Dust and Aluminium Salt Slags recycling services, which are a critical part of the circular economy, Befesa manages and recycles more than 2 million tonnes of residues annually, with a production of around 1.5 million tonnes of new materials, which Befesa reintroduces in the market, reducing the consumption of natural resources.

voda 2 mei 2022 07:42

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Chioson’s Puresteel Shifts to Renewable Energy in Philippines

Strategic Research Institute
Published on :
02 May, 2022, 5:31 am

Manila Times reported that Cebu Philippines based steel manufacturer and property developer Chioson Group is set to be a carbon-neutral firm by 2025 as it completely shifted to renewable energy by choosing First Gen Corp as its power supplier. Chioson Group has tapped First Gen to supply 600 kW of clean energy for Puresteel Manufacturing Corp in Mandaue in Cebu. The power supply comes from the EDC geothermal plant in Leyte.

Puresteel manufactures and distributes steel products like c-purlins, corrugated sheets, square tubes, rigid steel conduit pipes and rectangular tubes.

First Gen and Chioson Group had signed an agreement to power Chioson Development Corp last year for 1,500 kW of clean energy from EDC's Leyte and Bicol geothermal facilities. First Gen now announced that the company is now supplying the total power requirement of Chioson Group of Co of 2,100 kilowatts from geothermal power plants of Energy Development Corp.

Aside from geothermal plants, First Gen's renewable energy portfolio includes hydropower, wind and solar. It also owns and operates a natural gas facility. The company has a total of 3,495 megawatts of installed capacity from these power plants.

voda 2 mei 2022 07:43

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Steel Contractor Billington Hit by Surge in Steel Prices

Strategic Research Institute
Published on :
02 May, 2022, 5:33 am

Wombwell based British steelwork contractor Billington has just broken even last year after taking a hit on a project where a client went bust and margins eroded in the face of sudden steel price hikes. Despite revenue rising by a quarter to GBP 83 million, Billington saw pre-tax profit fall to GBP 180,000 from GBP 1.7 million in the heavily Covid-impacted 2020. To help combat price volatility and the start of many delayed projects in the second half of the year, Billington invested heavily in stockpiling steel prior to the end of last year to ensure margins were preserved on secured work. Billington Chief Executive Officer Mr Mark Smith said “In 2021 price increases were in the order of 60%, on top of the 40% increases seen in 2020. The onset of the conflict in Ukraine has noted a restriction in some raw materials used in the steel making process of some steel products and further price rises have been encountered as a result.”

Mr Smith warned “We anticipated a more stable supply picture in 2022, with previous supply constraints removed and Billington benefiting from its scale in the market and trading relationships with its primary supply chain. But steel prices remain volatile and increasing energy costs coupled with government infrastructure based stimulus packages across the globe, and the development of HS2 in the UK, are providing further inflationary pressures and are restricting the supply of certain steel products.

Mr Smith said Billington is reviewing its steel procurement strategy in order to reduce its reliance on any one supplier as far as possible.

He added “While the market remains competitive, and market conditions and the macroeconomic environment remain challenging, Billington’s order book continues at a consistently high level, comprising both delayed and new projects, and the group has good visibility of significant further prospects.”

voda 2 mei 2022 07:43

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OYAK Update on CAPEX in Erdemir & Isdemir in Jan-Mar Quarter

Strategic Research Institute
Published on :
02 May, 2022, 5:36 am

Turkish steel giant OYAK Mining Metallurgy continues to invest for continuous development strategy and announced that as of 31 March 2022, the Group's total investment expenditures amount to USD 85 million

In Erdemir Plants, Commissioning activities continue in the New Wide Inspection and Recoiling Line Project. Equipment manufacturing, supply and field studies continue in the 2 Blast Furnace Renovation Project. Site installation works are ongoing in the No 6 Steam Boiler Project. Converters have been prepared for installation in the Steel Shop BOF Converters Modernization Project. Equipment shipment and site works continue in the Steel Shop Secondary Dust Collection System Capacity Improvement Project. The second phase studies continue in the Surface Inspection Systems Project. Equipment supply and site activities continue for the Various Fire Detection and Extinguishing Systems Project. Site works are ongoing in the Structural Improvement of Erdemir Port Docks Project and Project of Slitting Line Transfer to ERSEM. Distribution panel procurement studies continue in the Energy Distribution System Additional Investments Project. Detailed engineering works and 1st Phase construction works are ongoing in the 4 Coke Oven Battery Project. Detail engineering studies, procurement and supply processes continue in the 1 Slab Furnace Modernization Project, Plate Mill Housing System Renewal Investment Project, 60 MW Turbo Generator Project and No 6 Turbo Blower Project. Procurement activities continue for the New Sinter Plant Project, No 5 Coke Oven Battery Project, 1 Galvanizing Line Level-1 Automation System Modernization, Erdemir Domestic Waste Water Treatment Plant Modernization and 2 Hot Strip Mill Investment Projects.

In Isdemir Plants, within the scope of the 3rd Coke Battery Modernization Project, the heating of the battery continues, and other construction and installation works are ongoing in the site. Supply, manufacturing and site activities continue within the scope of Vacuum Degassing Plant Project. Engineering, purchasing processes, equipment procurement, manufacturing and site activities continue in the 1 New Blast Furnace Project. Site activities continue within the scope of the North Side Land Reclamation Projects. Procurement, manufacturing and shipping processes continue within the scope of the Boiler No 3 Retubing and Burner Modification Project. Engineering studies have been completed in the 1 Blast Furnace Top Recovery Turbine Project. Within the scope of the project, equipment supply continues; construction and installation contract has been signed. Engineering and supply works continue within the scope of the Port-1 New Grab Ship Unloader Cranes Project. Procurement activities continue for the New Sinter Plant Project and the Upgrade of HSM Level 1 System Project. Procurement process has been started in the Modernization of Turbo Generator No1 & No 2 Project. Preparation works for the specification and procurement process continues in the Electricity Generation from The Steam Produced in Coke Dry Quenching Project.

voda 2 mei 2022 07:47

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Saudi Steel Pipe Reports Record Profit in Jan-Mar Quarter

Strategic Research Institute
Published on :
02 May, 2022, 5:38 am

Riyadh based Saudi Steel Pipe Company has achieved net profits after Zakar and tax of SAR 14.53 million in the first quarter of 2022, against net losses of SAR 8.48 million in the year-ago period. The company's revenues increased by 99.9% to SAR 184.08 million from SAR 92.08 million in the same quarter of 2022.

Saudi Steel Pipe Company has recorded net profits of SAR 900,000 in 2021, compared to net losses of SAR 34.5 million in 2020

TenarisSaudiSteelPipes is a leading manufacturer and supplier of electrically resistance welded steel pipes for the energy, industrial, and construction segments of the Middle East and North Africa. TenarisSaudiSteelPipes offers oil and gas customers a full range of products including Oil Country Tubular Goods, Line pipe, API and Premium Connections and related accessories and services. It also serves customers in the industrial and construction segment with a wide range of black and galvanized pipes. Its facilities are located in the Second Industrial City of Dammam, in addition to a commercial office in Riyadh, and a service and distribution network covering more than 20 countries. It manufactures welded OCTG, Line Pipe and pipes for construction and industrial applications: half inch to 20 inch with external coating FBE, 3LPE, 3LPP.

voda 2 mei 2022 07:47

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Vulcan Increases Guidance for FY 2022 on Strong Results in 9 Month

Strategic Research Institute
Published on :
02 May, 2022, 5:41 am

Australasia-wide industrial product distributor and value-added processor Vulcan recently announced a trading update for financial year ending 30 June 2022. Vulcan's overall revenue is up 34% year-on-year for the nine months to 31 March 2022 to approximately NZD 700 million. The company's steel segment revenue lifted 42% YoY while its metals segment revenue grew 21% YoY during this period. Overall sales volume recorded a 5% YoY increase for the same period. Steel volume lifted 6% YoY while metals volume grew 2% YoY during this period. Vulcan's Managing Director and CEO Mr Rhys Jones said "Despite disruptions caused by COVID-19 and adverse weather in Australia, Vulcan's operations and financial performance have remained strong in the past three months. The geopolitical uncertainty in Europe has added more volatility to global supply chains and product prices for many industries including the steel sector. We continue to focus on maintaining our high service level and product availability to support our customer needs."

For the nine months to March 31, the company reported NZD 645.3 million in unaudited revenue, a 34% YoY jump. In terms of revenue from its steel segment, Vulcan saw a 42% YoY lift for the period on 6% higher sales volume. For its metals segment, sales volume grew 2% and revenue 21%

Following the conclusion of stronger than expected trading between February through to third week of April, and reflecting on the balance of FY22, Vulcan is revising its previous FY22 earnings forecasts. Pro forma earnings before interest, tax, depreciation and amortization post-IFRS 16 was originally forecast at between NZD 194 million and D 204 million. The guidance range has now been increased by 20% to between NZD 236 million and NZD 242 million. The company also increased its pro forma net profit after tax guidance range by 25% to between NZD 136 million and NZD 140 million.

voda 2 mei 2022 07:48

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LKAB Stepping Up Plans for Boosting Green DRI Production

Strategic Research Institute
Published on :
02 May, 2022, 5:46 am

Swedish iron ore miner LKAB is now boosting both the pace and the level of ambition in its plans towards the transition to carbon-dioxide-free sponge iron. A successful exploration program with dramatically increasing mineral resources means that the plan for future production of sponge iron has been upped to 24.4 million tonnes by 2050. This will enable a reduction in carbon dioxide emissions among global steel industry customers corresponding to nearly all of Sweden's current greenhouse gas emissions. LKAB's President & CEO Mr Jan Moström said "The climate can't wait and demand for the raw material for producing fossil-free steel is already upon us, before we have even reached the market. We are accelerating and expanding the plans for future production of sponge iron produced with hydrogen.”

LKAB is now moving towards a rapid industrialization of the Hybrit technology for transforming production in Malmberget & Gällivare, which is closely integrated with SSAB. The plan is to synchronize the transition with SSAB's planned transition and to have switched entirely from pellet production to sponge iron amounting to some 5.4 million tonnes by the 2030s. This will enable emissions reductions amounting to about 9 million tonnes at SSAB.

The Hybrit technology, which is developed in collaboration with SSAB and Vattenfall, will be industrialized starting in Gällivare, where the first plant will be operational in 2026. The capacity increase LKAB is now planning corresponds to three more such facilities in Malmberget & Gällivare within barely a few years after commissioning of the first Hybrit plant

When the transition has been completed, with increased production, by around 2050, the target is for LKAB to produce 24.4 million tonnes of sponge iron per year, with zero carbon dioxide emissions. By removing the oxygen from the iron ore by means of electrically produced hydrogen gas, instead of the steel mills using fossil carbon in blast furnaces, LKAB can enable reductions in carbon dioxide emissions of between 40 and 50 million tonnes per year at steelmaking customers. That corresponds to nearly all of Sweden's current annual greenhouse gas emissions.

A rapid transition places higher demands on fossil-free electricity and more power distribution infrastructure. LKAB's demand, needed mainly for hydrogen gas production, is estimated at 20 TWh per year by 2030, increasing to 50 TWh by 2040 and finally reaching 70 TWh per year when the entire expansion has been realized by 2050.

In March 2022 LKAB reported dramatically increased mineral reserves and mineral resources. This refers to deposits containing about 4 billion tonnes, which will enable production far beyond 2060. LKAB's known mineral reserves and resources now add up to double the amount thus far mined in the company's 130-year history.

voda 2 mei 2022 07:48

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Tenaris Reports 400% YoY Surge in Net Profit in Jan-Mar Quarter

Strategic Research Institute
Published on :
02 May, 2022, 5:43 am

Global seamless pipe leader Tenaris SA has reported 100% & 400% YoY increase in sales & net income in Januay-March 2022 quarter

Net sales - USD 2,367 million, up 100% YoY

Operating income – USD 484 million, up 839% YoY

Net income - USD 503 million, up 400% YoY

EBITDA - USD 627 million, up 220% YoY

EBITDA margin - 26.50%

Sales in the first quarter increased a further 15% sequentially, driven by higher prices for OCTG in the Americas and higher shipments of line pipe in Europe and South America. EBITDA rose 30% sequentially with the margin exceeding 26%, as higher prices more than compensated increases in energy and raw material costs. Tenaris decided to discontinue our industrial equipment’s business in Brazil which recorded an EBITDA loss of USD 14 million, including severance provisions, during the quarter, and we fully impaired the value of our 49% share in the joint venture with Severstal in Russia, recording a charge of USD 15 million.

Tenaris said “The Russian invasion of Ukraine and the sanctions that have been imposed on Russian individuals, companies and institutions has changed the outlook for energy worldwide. Oil and gas prices are higher than they were before the invasion as alternative sources to Russian exports of oil and gas are sought in Europe and other markets. In addition, current oil and gas production levels are not keeping pace with global demand and inventories are at low levels. Inflationary pressures and high commodity prices intensified by the Russian invasion are inducing a monetary response by central banks and a slowdown in global growth as well as increased uncertainty, which is further heightened by the ongoing COVID outbreak and governmental response in China. Drilling activity is increasing around the world led by North America and the Middle East. Offshore drilling activity is also increasing, led by Latin America. Pipeline project activity is also increasing in the Middle East, South America and the Mediterranean and Black Seas.”

Tenaris added “The outlook for steelmaking raw materials has also changed. Russia and Ukraine have both been major suppliers of pig iron, ferroalloys and semi-finished steel to European and American markets and the costs of these materials have risen sharply since the invasion”

Tenaris said “OCTG prices are also increasing on higher consumption while inventories have declined to low levels in key regions such as North America and the Middle East. In the second quarter, we anticipate further growth in sales, with higher volumes in the Middle East and South America, and stable margins with higher prices compensating the increase in costs. In the second half, we anticipate further growth in sales, and margins should remain around the same level as the first half.”

voda 2 mei 2022 07:51

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ArcelorMittal Brasil Achieves Best Results in History in 2021

Strategic Research Institute
Published on :
02 May, 2022, 5:48 am

ArcelorMittal Brasil has released the operating and financial results for 2021 with net revenue of BRL 69 billion & net income of BRL 12.8 billion, best ever performance of the Brazilian operation in a historic year, in which the company consolidated further its leadership, it celebrated 100 years of the long steel segment in the country and pioneered the implementation of the largest seawater desalination plant for industrial purposes in Brazil. EBITDA reached R$ 20.2 billion, up 297% in the same comparison. The EBITDA margin over net revenue rose 14 percentage points to 29%.

ArcelorMittal Brasil said “The expressive performance followed the reaction of the Brazilian economy, after the impact caused by the coronavirus pandemic in the previous year, and its reflection in the strong demand for steel verified in civil construction, industry, automotive, electronics and machinery and equipment, which sought to restore their inventories in view of the recovery in sales and production.”

Production was 13.4 million tonnes of steel and 3.4 million tonnes of ore, an increase of 29.5% and 4.4% respectively. And the sales volume reached 14.1 million tonnes (12.5 million tonnes of steel and 1.6 million tonnes of ore), growth of 18.9% in comparison with the previous year. Of the total sold, 59% were destined for the domestic market and 41% for the foreign market. The results include the Brazilian steel and mining operations and the operations of the subsidiaries of Acindar in Argentina & Unicon in Venezuela.

voda 2 mei 2022 07:51

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SAIL Chairperson Confers Best Integrated Steel Plant Award to RSP

Strategic Research Institute
Published on :
02 May, 2022, 5:51 am

Steel Authority of India Limited organized a grand function last week to felicitate the winners of the SAIL Corporate Awards for Excellence for the performance year 2020-21. Steel Authority of India Limited’s Chairperson Ms Soma Mondal presented the Best Integrated Steel Plant award to Rourkela Steel Plant’s director in-charge Mr Atanu Bhowmick, as part of the SAIL Corporate Awards for Excellence 2020/21. Congratulating Rourkela Steel Plant collective on winning the award, Ms Mondal exhorted it to further enhance its all-around performance to carve out a trail of success. Mr Bhowmick dedicated the award to every Rourkela Steel Plant employee and said the organisation would continue its journey of excellence to become the best steel plant in India.

Steel Authority of India Limited had announced in January that Rourkela Steel Plant has won the Best Integrated Steel Plant under SAIL Corporate Awards for excellence-2021. The award recognizes the remarkable overall performance of RSP in the financial year 2020-21. RSP has performed exceedingly well in production, productivity, techno-economics and profitability in the last fiscal and went on to achieve the Annual Business Plan targets for the first time in history. The steel plant registered an all time highest production of hot metal, crude steel and saleable steel in FY'21. RSP was also successful in further improving its techno economics to clock the best figures in major areas in the last fiscal. The specific energy consumption, a key techno-economic parameter was also all time best, the statement said, adding that all the departments of the plant excelled in tandem to clock several individual records.

The incredible performance came amidst one of the most challenging times during COVID 19 pandemic. The steel plant adopted an integrated response to go past the challenges. The multipronged approach included augmenting healthcare facilities with special focus on testing, treating and vaccination during the year.

Rourkela Steel Plant was set up with German collaboration with an installed capacity of 1 million tonnes. Subsequently, its capacity was enhanced to 2 million tonnes of hot metal, 1.9 million tonnes of crude steel, and 1.67 million tonnes of saleable steel. After implementing a massive modernization and expansion, Rourkela Steel Plant has enhanced its capacity to 4.5 million tonnes of Hot Metal and 4.2 Million Tonnes of Crude Steel.

voda 2 mei 2022 07:52

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WTO Rebukes EU & Sides with Turkey on Safeguard Tariffs on Steel

Strategic Research Institute
Published on :
02 May, 2022, 5:54 am

A World Trade Organization Dispute Settlement Board has ruled against European Union’s steel safeguards tariffs, siding with the Turkish government's claims that the European Commission didn't justify its restrictions under global trading rules. WTO circulated the panel report in the case brought by Turkey in “European Union Safeguard Measures on Certain Steel Products” DS595 on 29 April 2022.

This dispute concerns a provisional safeguard measure and a definitive safeguard measure adopted by the European Union in 2018 and 2019, respectively, on imports of certain steel products. The European Union applied the measures on the grounds that three unforeseen developments increased global steel overcapacity, an increase in the use of trade restrictive and trade defense measures on steel, and the US Section 232 measures on steel had resulted in an increase in imports of certain steel products into the EU market, and that the increase in imports was threatening the EU industry with serious injury. The safeguard measures took the form of duty-free tariff-rate quotas and 25% out-of-quota safeguard duties.

Turkey claimed that the provisional and definitive safeguard measures were inconsistent with various provisions of the Agreement on Safeguards and the GATT because according to Turkey the European Commission applied distinct safeguard measures on 26 products but had not examined whether the circumstances and conditions for imposing a safeguard measure existed for each of those products individually and, moreover, because the European Commission had adopted an internally inconsistent approach to product scope at different stages of the investigation and application of the measures.

The Panel rejected Turkey's proposition that the European Commission had applied distinct safeguard measures on 26 products. Instead, the Panel found that the European Commission had applied a single safeguard measure on 26 product categories taken together. The Panel concluded that Turkey did not establish any inconsistencies in relation to the product scope of the European Commission's analysis of the circumstances and conditions for imposing a safeguard measure. Specifically, Turkey argued that the European Commission

(a) Had not identified unforeseen developments

(b) If it had identified developments, they were not unforeseen

(c) It had not demonstrated that the injurious increase in imports had occurred as a result of” the unforeseen developments.

The Panel rejected Turkey's arguments that the European Commission had not identified unforeseen developments and that any such developments were in any case not unforeseen. However, the Panel accepted that the European Commission had not established that the increase in imports had taken place as a result of the unforeseen developments. Accordingly, the Panel found that the definitive safeguard measure was inconsistent with Article XIX:1(a) in this regard.

voda 2 mei 2022 07:55

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LKAB ReeMAP Project for Phosphorus & Rare Earth

Strategic Research Institute
Published on :
02 May, 2022, 6:30 am

The new Per Geijer deposit contains up to eight times phosphorus compared to the ore bodies currently mined by Swedish miner LKAB. With circular extraction of phosphorus and rare earth elements as by-products from iron ore mining, LKAB can potentially replace all imports of phosphorus to Europe from Russia. In the ReeMAP project, LKAB is developing circular solutions for extracting phosphorus and rare earth elements from today's iron ore production. Europe has only one producer of phosphorus and produces no rare earth elements. LKAB can thereby improve Europe's self-sufficiency and the Per Geijer deposit presents possibilities for significantly increasing LKAB's contribution.

Phosphorus is one of three three essential nutrients added to mineral fertilisers used in agriculture. Approximately half of all world agricultural production is dependent on this. Europe is 90% dependent on imports of phosphorus and Russia accounts for a significant share of phosphorus production. Since Russia's invasion of Ukraine the supply and prices of mineral fertiliser have become a major problem, which may result in high food prices globally and food shortages in poor countries. Consequently, phosphorus has been included on the EU's list of critical raw materials. All of these raw materials are vital for our industry and economy, we are import-dependent on them and there is a great risk for disruptions in supply related, for example, to geopolitical risk factors. Rare earth elements are also included on the list of critical raw materials, none of which are mined in Europe. China dominates both mining and processing, while Europe is largely dependent on rare earth elements for manufacturing electric vehicles and wind power turbines, which are essential for our green transition.

voda 3 mei 2022 06:32

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ArcelorMittal Tests Replacement of Gas with Hydrogen for DRI

Strategic Research Institute
Published on :
03 May, 2022, 6:08 am

ArcelorMittal announced that it has successfully tested the use of green hydrogen in the production of direct reduced iron at its steel plant in Contrecoeur in Quebec in Canada and that this test is an important milestone in the Company’s journey to produce zero carbon emissions steel via the DRI-based steelmaking route using green hydrogen as an input. The objective of the test was to assess the ability to replace the use of natural gas with green hydrogen in the iron ore reduction process. During this first test, 6.8% of natural gas was replaced with green hydrogen during a 24-hour period, which contributed to a measurable reduction in CO2 emissions. The green hydrogen used in the test was produced by a third-party owned electrolyser and was then transported to Contrecoeur. This is a major step forward since the iron ore reduction process alone contributes to more than 75% of ArcelorMittal Long Products Canada’s overall CO2 emissions.

ArcelorMittal Long Product Canada is evaluating the possibility of carrying out further tests in the coming months by increasing the use of green hydrogen at the DRI plant, which could eventually reduce CO2 emissions in Contrecoeur by several hundred thousand tonnes per year. The potential use of electrolysers to produce green hydrogen in Contrecoeur will depend on certain criteria, particularly the availability of sufficient electricity to power the units. With one of the lowest carbon footprints in the world, ArcelorMittal Long Product Canada is well-positioned to contribute to the Company’s decarbonisation efforts if the right conditions are in place in Quebec. ArcelorMittal Long Product Canada’s low-carbon footprint is driven by its EAF-DRI pathway to steelmaking, use of renewable electricity and locally-sourced iron ore and scrap metal.

ArcelorMittal aims to reduce its CO2 emissions intensity by 25% by 2030 on a global scale and achieve carbon neutrality by 2050.

Bijlage:

voda 3 mei 2022 06:32

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JSW declares force majeure, estimates 400,000t output loss
224 Views

Jastrzebska Spolka Weglowa (JSW) has declared force majeure following two lethal incidents at separate mines last month, the firm says in a stock exchange filing seen by Kallanish. The EU’s main coking coal miner forecasts a 400,000-tonne coal production loss as a result.

At its Borynia-Zofiowka mine, a high-energy tremor on 23 April claimed the lives of ten miners, while at the Pniowek mine, a methane explosion on 20 April has so far claimed the lives of nine miners, with 11 remaining in hospital and seven still missing.

Activity at the Zofiowka section of Borynia-Zofiowka has been suspended, while the Pniowek mine blast area has been sealed, with no indication of how long this will last, JSW says. It is not possible at present to forecast the full impact of these developments on JSW’s future performance, the firm adds.

JSW saw merchant coking coal sales fall 5% on-year in the first quarter to 1.68 million tonnes, while coke sales were down 6% to 950,000t (see Kallanish passim). Overall coal sales, including thermal coal, however rose 6% to 4.06mt.

JSW said in March it does not envisage CIS raw material supply disruption hampering steel mills’ production and therefore the uptake by these mills of its coal and coke products. The firm was, in fact, in discussion with EU mills to help cover any coal shortages.

Adam Smith Germany

voda 3 mei 2022 08:10

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Staalreus ArcelorMittal trotseert gevaar met hervatten productie in Oekraïne
Door THEO BESTEMAN

Gisteren, 19:19
in FINANCIEEL

AMSTERDAM - Russische soldaten liggen op nog geen zestig kilometer afstand, toch neemt staalconcern ArcelorMittal een deel van zijn eerder belaagde grote productielijn in de Oekraïense stad Kryvyi Rih weer in gebruik.

Kryvyi Rih, hart van de Oekraïense staalsector. GETTY IMAGES

Volgens werknemers op het terrein van de in omvang zevende stad van het land, 350 kilometer ten zuidoosten van Kiev, is het geluid van zware explosies in de verte te horen. Op 7 april gaf oprichter en chairman Lakshmi Mittal het signaal voor de herstart na sluiting op 3 maart.

BEKIJK OOK:
Rusland draait gaskraan naar Polen en Bulgarije dicht: prijs schiet omhoog

De Indiase eigenaar van ArcelorMittal, dat altijd claimt dat veiligheid van zijn personeel prioriteit nummer 1 is, is ’oven nummer 6’, een van zijn vier grote hoogovens, afgelopen dagen weer op kracht gekomen. Mital kreeg naar eigen zeggen ’een dringend verzoek’ van de Oekraïense regering om productie te hervatten. Een complexe klus nu 1200 van de 20.000 werknemers zich bij het Oekraïense leger hebben gevoegd, en een aantal volgens lokale media is gesneuveld.

Zelden uit
Een staaloven na het stilvallen weer vol in productie krijgen kan onder gewone omstandigheden al weken duren. De tachtigjarige staalfabriek werd alleen tijdens de Tweede Wereldoorlog eerder al eens stilgelegd, aldus Oekraïense historici.

Fabriek van ArcelorMittal herstartte voorlopig een van de vier ovens, terwijl Russen op zestig kilometer afstand zijn. GETTY IMAGES

Het gaat bij Kryvyi niet om de door Russische troepen zwaar belegerde, naar volume grootste Oekraïense staalfabriek Azovstal in zuidoostelijk Marioepol, vanuit Kryvyi een kleine zeven uur rijden verder aan de kust. Die levert jaarlijks 4 miljoen ton staal af volgens eigenaar Metinvst. Zij is door de belegering stilgevallen. Waarnemers vrezen in de Azovstal-fabriek na weken van beleg een humanitaire ramp, hoewel maandag naar verluidt een honderdtal burgers via een corridor weg kon komen. Waarop de beschietingen werden hervat.

BEKIJK OOK:
Slepers willen schip met Russische gasolie niet de Amsterdamse haven in begeleiden

ArcelorMittal Kryvyi Rih in centraal-Oekraïne was met 5,3 miljoen ton productie wel de grootste zogeheten geïntegreerde staalmaker van het land: alles onderdelen kwamen hier samen, van de toelevering van kolen, cokes en ijzererts, gas en olie tot het verhitten tot staal en walsen van platen, rollen en bielzen.

Staal voor spoorlijn
De staalfabriek, die voorheen 80% exporteerde via de nu geblokkeerde Zwarte Zee, is voor zijn export sterk afhankelijk van de spoorweglijnen. Afgelopen weken leverde ArcelorMittal, dat meerdere staalfabrieken in het land bezit, nog beschikbaar staal aan lokale spoorlijnen, getroffen door raketaanvallen.

Het staalhart bloeide rond 1880 op dankzij Britse, Belgische en Franse investeerders die aasden op de zeer rijke ijzerertsvoorraden. Het huidige Kryvyi Rih werd onder de Russische leider Stalin het grootste staalcomplex van het land met verschillende productielijnen, om na de Tweede Wereldoorlog in te storten. De stad zuchtte onder de Duitse bezetting. In 1971 leverde het herbouwde complex echter oven nummer 9 af, met 5000 kubieke meter omvang destijds de grootste van Europa. Lakshmi Tata kocht het complex in 2005 voor $4,8 miljard in een privatiseringsronde.

Vrees aanvallen
„We verwachten duizend ton ruwijzer te kunnen produceren, na een aanloop van vijf of zes dagen. Productie in de cokes- en mijnbouwdivisie neemt ook toe”, aldus Oleksandr Vilkul, hoofd van de militaire regering in Kryvyi Rih, deze week op sociale media over de herrijzenis.

BEKIJK OOK:
LIVE | Oekraïne ruilt opnieuw gevangenen met Rusland

Directeur Mauro Longobardo, sinds voorjaar 2020 actief, verwacht dat ook andere ovens snel op temperatuur komen. Al is hij voorzichtig. „Zestig kilometer hiervandaan zijn er Russische troepen, dus we weten niet wat er vandaag of morgen gaat gebeuren, en we hopen dat het Oekraïense leger ze zal kunnen terugdringen”, stelt hij tegen Reuters. „Natuurlijk erkennen we de risico’s. We moeten realistisch zijn, omdat de fabriek door de landtroepen en raketten kan worden geraakt.”

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