Eurobench.com

voda 9 juni 2022 09:45

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EUROFER Disappointed with Parliament Vote on ETS & CBAM

Strategic Research Institute
Published on :
09 Jun, 2022, 8:28 am

European Steel Association EUROFER is very disappointed with outcome of the European Parliament’s vote on the ETS and CBAM, as it delays a much-needed revision of the current proposals and the rejection of the report is neither good for the climate nor for industry’s green transition. EUROFER Director General Mr Axel Eggert said “We hope that the negotiations will soon be resumed among MEPs and that a solution addressing our concerns will be found, helping us to decarbonise in a sustainable manner and secure that the Carbon Border Adjustment Measure prevents effectively carbon leakage, including for exports.”

EUROFER said “The steel industry reiterates its strong commitment to the green transition, with ambitious plans for cutting emissions by 55% by 2030 and reaching climate neutrality by 2050. Those plans are very concrete: there are 60 low carbon steel projects in the pipeline across the EU, with detailed names, locations, technology used, capital investment, operational costs and energy needs. They are ready to be deployed by 2030 with an abatement potential of over 80 million tonnes of CO2 per year. We invite EU policymakers to have a careful look at them here, on our low carbon projects map.”

voda 9 juni 2022 13:00

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ArcelorMittal rondt aandeleninkoopprogramma nu al af
Voor 1 miljard dollar ingekocht.

(ABM FN-Dow Jones) ArcelorMittal heeft sneller dan verwacht een aandeleninkoopprogramma afgerond. Dit maakte de staalonderneming donderdag bekend.

Het bedrijf kocht voor in totaal 1 miljard dollar 33.349.597 eigen aandelen in tegen een gemiddelde koers van 28,26 euro per aandeel. Uitgedrukt in euro's komt de inkoop dan uit op 942,6 miljoen euro.

Begin mei kondigde het bedrijf aan dit jaar voor nog eens 1 miljard dollar eigen aandelen in te kopen, waarmee het totaal dit jaar op 2 miljard dollar uitkomt. De inkoop van de eerste 1 miljard dollar werd eind april al afgerond, de tweede gaf ArcelorMittal in mei tot het einde van het jaar om te voltooien.

ArcelorMittal zal de ingekochte aandelen gebruiken om te voldoen aan de verplichtingen van converteerbare obligaties, voor beloning van medewerkers in aandelen en om het uitstaande aandelenkapitaal te verkleinen en zo de winst per aandeel te vergroten.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

voda 10 juni 2022 07:33

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TMK Modernizing Steel Pipe Production Process at SinTZ

Strategic Research Institute
Published on :
10 Jun, 2022, 6:14 am

Russia’s leading steel pipe maker Pipe Metallurgical Company is modernizing the main production of the Sinar Pipe Plant. The goal of the project is to increase productivity and ensure the release of new types of high quality products. SinTZ’s Pipe-rolling shop No T2 has new coupling-rolling equipment that provides control and registration of torque during the assembly of a factory threaded pipe-coupling connection. This allows TMK to produce premium products and meet the highest quality requirements for products. In the pipe drawing shop No B2, a new section for the production of couplings is currently being created, the first stage of the modern section for thermal diffusion galvanizing of couplings and a new coupling-cutting machine have been put into operation. A new oil and gas pipe finishing line has been created in the oil and gas pipe finishing workshop T1, which includes a hydraulic press and modern turning centers for chamfering.

TMK's First Deputy CEO for Operations and Development Mr Sergey Chikalov said “TMK sets ambitious goals for SinTZ to increase production volumes and, to this end, invests in the modernization of the main production. The enterprise team, in turn, needs to ensure high productivity, efficiency and implement innovative solutions. I am sure that the enterprise has all the necessary competencies, resources and capabilities for this. This work is already yielding tangible results – production intensity and volumes are growing.”

voda 10 juni 2022 07:34

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Steel Packaging Breaks Recycling Rate Record in 2020 in Europe

Strategic Research Institute
Published on :
10 Jun, 2022, 6:18 am

The Association of European Producers of Steel for Packaging APEAL announced that recycling of steel packaging in Europe has hit another all-time high of 85.5%, in 2020, up by 1.,5% YoY, for the 10th consecutive year in which the overall recycling rate has risen. APEAL Secretary General Mr Alexis Van Maercke said “The excellent recycling rate which steel packaging continues to improve upon each year is testament to steel’s strong environmental credentials and the work of stakeholders throughout the value chain to improve recycling processes, infrastructure, and consumer communications. It is also significant that more countries than ever before have recycled over 90% of steel packaging. It is a clear signal that closing the loop for steel packaging is within reach which another exciting step towards a truly circular economy.”

Mr Van Maercke added “More needs to be done, however. APEAL’s vision, Zero steel packaging to landfill by 2025, remains unchanged and there are still a number of countries which have some way to go to reach the average recycling rate for steel packaging in Europe. Indeed, preventing recyclable packaging from being sent to landfill is one of six key policy recommendations in APEAL’s 2022 recycling report, published earlier this year.”

It follows news of the adoption of the new EU recycling rate calculation methodology which guarantees that only the accepted tonnages at the entrance of the recycling operations are used to calculate the recycled tonnages, instead of collected or sorted tonnages. The new methodology is mandatory for 2020 data onwards, to be reported by June 2022 at the latest. However, several Member States will only be able to apply these new rules from next year onwards. 2020 data is therefore considered to be a transition year, but APEAL is confident that steel continues to lead the recycling rate for packaging materials across Europe.

Steel is circular by nature. Magnetic properties make steel easy to collect from any waste stream and, as a permanent material, it can be recycled over and over again without any loss of material quality. In addition, 100% of recycled steel is used for new steel products bridge, wind turbine or even a new item of packaging in the 500+ recycling plants across Europe.

voda 10 juni 2022 07:39

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US Steel Shipments in April Down by 2.6% MoM

Strategic Research Institute
Published on :
10 Jun, 2022, 6:21 am

The American Iron and Steel Institute has reported that for the month of April 2022, US steel mills shipped 7.630 million net tons, a 2.7% YoY decrease & 2.6% YoY. Shipments in January-April 2022 are 30.456 million net tons, a 1.7% YoY increase.

A comparison of shipments year-to-date in 2022 to the first four months of 2021 shows that while corrosion-resistant sheet & strip shipments remained unchanged YoY, hot rolled & cold rolled shipments are down 4% YoY & 8% YoY.

voda 10 juni 2022 07:39

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Worker Union Alleges PTI’s Failure in Privatization of PSM

Strategic Research Institute
Published on :
10 Jun, 2022, 6:24 am

ProPakistani reported that the Pakistan Steel Mills Labor Union in a letter to Pakistan’s Federal Minister for Privatization & Federal Minister for the Ministry of Industries & Production has alleged that non transparent privatization of Pakistan Steel Mills has cost Pakistan’s exchequer USD 2 billion as Mr Imran Khan led PTI’s earlier government failed to put professional management in the steel mills. Through the letter, the labor union demanded accountability and an investigation into the loss inflicted on the national exchequer. The letter stated that Since 2005/2006 Pakistan Steel Mills has suffered a loss of approximately USD 12 billion & the rehabilitation of the Pakistan Steel Mills required USD 300 million or PKR 50 billion and Mr Imran Khan could not fulfill his promise.

The letter added “Employees with 12% shares were not taken into account in decision making, according to the letter, and no approval from the Council of Common Interest was sought for rehabilitation under the public-private partnership. Moreover, the letter said a No Objection Certificate was not obtained from the Sindh government before handing over 930 acres of Pakistan Steel Mills’ land to the National Industrial Park. Similarly, no NOC was obtained before handing over 220 acres of Al-Tuwairqi Steel Mills, 50 acres of Aisha Steel Mills, and 9,000 acres of land to Special Economic Zones.”

voda 10 juni 2022 07:41

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JFE Steel’s Core Steel Plants ISO 45001 Certified for Safety

Strategic Research Institute
Published on :
10 Jun, 2022, 6:27 am

Japan’s second largest steel maker JFE Steel announced that its West Japan Works in Kurashiki Area and East Japan Works in Chiba Area have been certified under the ISO 45001 international standard for occupational health and safety management systems. Previously, the company’s Chita Works and West Japan Works in Fukuyama Area acquired certifications in 2021, meaning that both areas of the West Japan Works, JFE Steel’s core steel works, now have been certified under ISO 45001. The company’s remaining two works at Keihin & Sendai are currently working to acquire certification within the current fiscal year ending in March 2023.

The certifications for activities, which relate to the manufacturing of iron & steel, were conducted by JIC Quality Assurance Ltd based on the ISO 45001:2018 & JIS Q 45001:2018 standard. Both certifications were issued on 26 May 2022

Based on the core principle that safety takes precedence over everything else, all employees at the company’s steel mills and manufacturing plants cooperate toward creating safe and healthy workplaces. To ensure autonomous and systematic management of occupational health and safety throughout the company, JFE Steel has established extensive procedures in compliance with the ISO 45001 standard. JFE Steel commitment to maintaining safe, healthy workplaces includes acquiring certification for all business sites and thereafter implementing compliant occupational health and safety management activities continuously and effectively.

The ISO 45001 standard, published in March 2018 by the International Organization for Standardization, is a framework for activities implemented systematically, continuously and voluntarily, including declarations by the operator’s senior management regarding the company’s health and safety policies; investigations of hazards and/or harmful events and measures taken in response thereafter; setting of health and safety targets; and preparation, implementation, evaluation and improvement of health and safety plans.

JFE Steel was established through the consolidation of NKK Corporation & Kawasaki Steel Corporation in 2003. The company operates several steelworks in Japan and numerous branch offices and affiliates throughout the world. JFE Steel had reported consolidated sales of JPY 2,255 billion and consolidated crude steel output of 23.96 million tonnes in the fiscal year ended March 2021.

voda 10 juni 2022 07:42

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Truckers Strike in South Korea Hits Steel Shipments from POSCO

Strategic Research Institute
Published on :
10 Jun, 2022, 6:36 am

South Korean media has reported that truckers strike to protest a sharp surge in fuel costs has continued for the third day on 9 June 2022 for a third day, disrupting production, slowing activity at ports and posing new risks to a strained global supply chain. South Korean Ministry of Land, Infrastructure & Transport said that about 7,200 members or about 30% of the Cargo Truckers Solidarity union are on strike. A transport ministry official said there had been drops in shipments of some products including steel and cement, but the country was not yet seeing a significant disruption in logistics and the government is meeting with relevant industry officials to prevent such a situation. However, union officials said the number of participating members was much higher and they were joined by non-union truckers.

South Korean steelmaker POSCO said it has not been able to ship about 35,000 tonnes of steel products from two plants daily, equivalent to about one-third of its daily shipments from those plants, since the strike began on 7 June 2022.

The truckers, regarded as self-employed contractors, are seeking pay increases and a pledge that an emergency measure guaranteeing freight rates, which was introduced amid the COVID-19 pandemic and is due to expire in December, will be extended. Cargo truckers are calling on the government to increase the number of recipients of the Safe Trucking Freight Rates System, which ensures minimum rates of pay and safer working conditions for truck drivers. They also want it to apply to a wider range of trucks, not just container trucks and cement trucks. The strike has presented new South Korean President Mr Yoon Suk-yeol with one of his first big economic challenges.

voda 10 juni 2022 07:42

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US Steel Pays Penalties over Clairton Coke Woks Emissions

Strategic Research Institute
Published on :
10 Jun, 2022, 6:30 am

Pittsburgh based environmental group GASP has disclosed that US Steel has paid Environmental Protection Agency and the Allegheny County Health Department USD 1.5 million penalties under settlement decree for pollution at Edgar Thomson Facility in in Braddock in Pennsylvania, which includes Clairton Coke Works. GASP said “By now, the news has been widely reported that County and federal air quality regulators have entered into a proposed consent decree with US Steel to settle years of air quality violations at its Edgar Thomson Plant. The proposed decree signed and sealed by the Mon Valley’s most egregious air polluter, the Environmental Protection Agency) and Allegheny County Health Department calls for US Steel to pay a USD 1.5 million civil penalty and make numerous improvements to the North Braddock facility. But the devil, as they say, is in the details, and there are a lot of details.”

The consent decree addressed numerous Clean Air Act violations dating back to 2016 at the steelmaking facility known as Edgar Thomson Works that occupies about 250 acres and employs about 900 workers. The one-mile radius around the facility is an area of potential environmental justice concern, exceeding the state average for the percentage of low-income populations and for minority populations. This Consent Decree was to be lodged with the Court for a period of not less than 30 Days for public notice and comment. The United States reserves the right to withdraw or withhold its consent if the comments regarding the Consent Decree disclose facts or considerations indicating that the Consent Decree is inappropriate, improper, or inadequate.

Under the settlement, US Steel was required to make numerous improvements in training, monitoring and work practices to increase compliance and timely response to air pollution. Additionally, the company was tasked with conducting studies on potential improvements to its pollution control systems. The proposed consent decree had additional monitoring requirements for H2S and SO2. US Steel personnel must inspect the blast furnace slag pit spray systems every shift and document the condition of the slag prior to load-out. US Steel must also install, operate, and maintain a continuous SO2 monitor for emissions from the Plant’s Riley Boilers which burn blast furnace gas, coke oven gas and natural gas to generate steam, heat, and electricity for the plant. There are also additional reporting, record-keeping, and data-sharing requirements for both monitoring schemes.

The primary pollutant of concern is particulate matter, including PM 2.5. Particulate matter contains microscopic solids or liquid droplets that are so small that they can be inhaled and cause serious health problems. Some particles less than 10 micrometers in diameter can get deep into your lungs and some may even get into your bloodstream. Particles less than 2.5 micrometers in diameter (PM2.5) pose the greatest risk to health, including susceptibility to respiratory diseases, including acute respiratory distress, asthma, chronic obstructive pulmonary disease, and lung cancer.

The Edgar Thomson Steel Works is a steel mill in the Pittsburgh area communities of Braddock and North Braddock in Pennsylvania. It has been active since 1872. It is currently owned by US Steel and is known as Mon Valley Works Edgar Thomson Plant. Mon Valley Works has an annual raw steel production capability of 2.9 million net tons.

voda 10 juni 2022 07:43

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Algoma Steel Spills Oil in St Mary’s River in Canada

Strategic Research Institute
Published on :
10 Jun, 2022, 6:40 am

Algoma Public Health has issued public advisory warning residents downstream from Algoma Steel in Canada not to consume, swim or bathe in water drawn from the St Marys River. Algoma Public Health advised “All users of the St Marys River that an oil spill has been reported and confirmed to be entering St Marys River. Please be advised that if your drinking water intake is located in the St Marys River downstream East of Algoma Steel Inc and Great Lakes Power and if you have a dug a well close to the shoreline there may be risk of contamination resulting from this spill. Additionally, we advise you not to use the St Marys River for recreational purposes like swimming, kayaking & fishing etc at this time until further information is provided.”

The spill was reported around 8:30 AM on 9 June 2022. Emergency crews are on site of a reported chemical spill near Purvis Marine facilities. Control and remediation is currently underway by Algoma Steel with the Ministry of the Environment, Conservation & Parks overseeing regulation. The US Coast Guard said that more than 20,000 liters of oil has spilled.

Algoma Public Health said “The Ministry of Environment, Conservation and Parks, the Spills Action Centre, the Canadian Coast Guard and the City of Sault Ste Marie have been notified and we are currently coordinating with officials, deploying equipment, resources and personnel to mitigate any possible impact to the environment.”

Algoma Steel’s manager of communications and branding Ms Brenda Stenta said “A quantity of oil left our site early this morning and entered the adjacent waterway. The source of the spill has been safely contained. Algoma Steel has hired cleanup contractors that have deployed absorbent booms on the river to contain the spill, Wheeler said. The steel plant is also using vacuum trucks to remove oil from inside the wastewater treatment plant.”

voda 10 juni 2022 07:43

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ThyssenKrupp Urges Policy Makers for Clarity onDecarbonizing Steel

Strategic Research Institute
Published on :
10 Jun, 2022, 7:37 am

Reuters reported that German steel maker ThyssenKrupp has urged policy-makers to quickly provide the regulatory conditions and support payments needed to decarbonize the sector. ThyssenKrupp Steel Europe Chief Executive Mr Bernhard Osburg said at the Handelsblatt hydrogen conference in Essen “We are ready to go on the engineering side, but now a few things have to happen. This includes applications for state subsidies that have been submitted for more than a year. There are no commitments here yet. If we don't have them, we won't be able to invest.”

German government has said “Germany's steel industry as a whole must invest about EUR 30 billion euros to become climate-neutral by 2050, funds it cannot shoulder alone.”

ThyssenKrupp, which wants to turn its steel production carbon-neutral by 2045, is one of the biggest CO2 polluters in Germany. With its climate strategy the company is stepping up its previous activities to reduce emissions, accepting its social responsibility and showing its commitment to the 2015 Paris Climate Agreement. As an initial target for 2030, ThyssenKrupp is aiming to reduce emissions from its own production and processes and from the purchase of energy by 30% versus the base year 2018. It had said “To achieve these goals, the steel company is going to need support from policymakers. Only with the right framework will the transformation of the industry be a success.”

At the end of September 2021, ThyssenKrupp Steel joined the "Race to Zero" campaign on occasion of the Climate Week of the United Nations. In this campaign, the company, together with ten other German companies and a further 1,300 companies worldwide, commits itself to limiting global warming to 1.5 degrees. In addition, ThyssenKrupp Steel has joined the global multi-stakeholder ResponsibleSteel initiative. In the non-profit organization, companies, civil society groups and associations are working to develop standards for responsibly produced steel – from the procurement of raw materials to the recycling of steel after the use phase.

voda 10 juni 2022 07:44

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Brazil Seeking Steel Slab Exports to US without Section 232 Duties

Strategic Research Institute
Published on :
10 Jun, 2022, 7:41 am

As per media reports Brazilian President Mr Jair Bolsonaro was to ask US President Mr Joe Biden in a bilateral meeting on 9 June in the sidelines of the Summit of the Americas in Los Angeles was to seek relief on US tariffs on imports from Brazil, including 25% Section 232 duties on steel products mainly steel slabs imposed by former President M Donald Trump in 2018. US have established a tax-free quota of 3.5 million tonnes per year of Brazilian steel but during the first four months of 2022, the volume has already reached 2.32 million tonnes. The reasoning behind the Brazilian demand is that Brazilian slab producer’s import coking coal from the US, and while increasing slab imports from Brazil, the importers in the US will be less dependent on Russian slab.

In 2021, Brazil exported 5.57 million tonnes of slabs to the US

As president, Mr Trump adopted several protectionist measures to contain imports, on the grounds that he intended to preserve US jobs. Mr Biden, who has been in office for a year and a half, still has many of those measures in place. However, after the pandemic and the War in Ukraine, the United States started talking about near-shoring, a move to bring industries and production chains spread across the planet closer, in a move that can benefit Latin America. The US government hopes that, in addition to improving the region’s economy, it will also help to discourage the migration of Latin Americans to the US.

voda 10 juni 2022 10:11

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Russian steelmakers are losing sales markets: Russian Steel
227 Views

More than 10,000 sanctions have been imposed against Russia, and it is already clear that steelmakers are losing sales markets, says the Russian Steel Association.

“Applications from domestic consumers are also declining,” it noted after the Metallurgical Summit "Russian Steel: Growth Strategy" in Tula. “According to the speakers, under such conditions it is necessary to make adjustments to the tax system for the steel industry, because the excise tax on liquid steel is questionable.”

Earlier, the association warned that Russian steelmakers are already suffering losses and reducing production. Russian Steel noted that, due to sanctions, supplies have to be redirected from the US and EU markets to China and other Asian countries, where Russian goods are sold at a discount, and in some cases even below cost.

It said the share of Asia in export deliveries already exceeds 50%, against 10-20% before the start of the Russian-Ukrainian war.

After that, The Russian Federal Antimonopoly Service (FAS) issued a warning to Russian Steel Association, in connection with the publication of his forecast for reduced production (see Kallanish passim).

Russian industry minister Denis Mantrurov previously indicated he expects a decrease in demand for steel in the domestic market in 2022, but it will be only by a single-digit percentage.

Manturov does not agree with the forecast of the World Steel Association, which expects a decrease in demand for steel in Russia by 20% this year to 35.1 million tonnes, from 43.9mt in 2021.

This week, Russian President Vladimir Putin acknowledged that Russia’s ferrous industry is signalling the risk of a significant decline in production in the medium term (see Kallanish passim).

Earlier, MMK said it expects to reduce steel output by 40% this month to 550,000 tonnes. Severstal also confirms it could experience a drop in output by 20-40% in June.

Svetoslav Abrossimov Bulgaria

voda 13 juni 2022 07:24

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ThyssenKrupp Marine Systems Acquires MV Werften in Wismar

Strategic Research Institute
Published on :
13 Jun, 2022, 5:58 am

Thyssenkrupp Marine Systems tkMS is to take over the shipyard location of MV Werften in Wismar. The employees were informed about this development at a meeting last week by the insolvency administrator Dr Christoph Morgen in the presence of the Minister of Economics Reinhard Meyer, CEO Oliver Burkhard and IG Metall district manager Daniel Friedrich. With this move, one of the most traditional shipbuilding locations in Germany once again has a long-term outlook.

With a view to the future, ThyssenKrupp Marine Systems could produce submarines in Wismar during the course of 2024. The main impetus for this is an order for more submarines from the German government and the resulting investments in the upgrading of the shipyard. The extent of such a commitment by ThyssenKrupp Marine Systems depends on the scope of the contract award: more orders means more jobs. If production ramps up in the course of 2024, some 800 new employees could be hired by ThyssenKrupp Marine Systems. Moreover, if additional orders are received in the surface sector, this number could even increase to over 1,500 employees at the Wismar site.

The parties agreed not to disclose the purchase price. In addition to the necessary investments in the infrastructure, further qualification of the staff is also necessary. If the order situation allows, they will be recruited primarily from a transfer company set up for the former employees of MV Werften. In addition, there is consensus on, among other things, the employment of apprentices and the establishment of co-determination structures. This was agreed by ThyssenKrupp Marine Systems and IG Metall Coast. For details, please see the IG Metall press release.

Thyssenkrupp Marine Systems is one of the world’s leading naval companies with approx. 6,500 employees, and is active as a systems supplier for submarines and naval surface vessels as well as for maritime electronics and security technologies. More than 180 years of history and the constant striving for improvement allow the company to set new standards time and time again.

voda 13 juni 2022 07:25

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Vallourec Solugoes Tubulares Chooses Smart Steel Technologies

Strategic Research Institute
Published on :
13 Jun, 2022, 6:03 am

Leading producer of seamless steel pipes for demanding customers like the oil and gas, automotive, energy, machinery industry etc Vallourec Solugoes Tubulares do Brasil has hires the Al Company Smart Steel Technologies to implement SST Temperature Al at their production site in Jeceaba in Brazil. The software gets installed in its steel mill specialized in round billets focused on the production of seamless steel tubes. The SST solution is used for precise temperature control from EAF via LF & VD to the continuous caster and will be integrated live into the production process.

Consequently, Vallourec will minimize temperature buffers and will be able to optimize the temperature in production. Through increased process stability, Vallourec will permanently save energy costs, C02 emissions and improve product quality.

The installation of SST Temperature Al takes a few months only. Additional three months are invested in a test and optimization phase. Fortunately, Vallourec will benefit from a significant cost reduction soon.

voda 13 juni 2022 07:25

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US Imposes AD Duty on Rebar Imports from Mexico

Strategic Research Institute
Published on :
13 Jun, 2022, 6:05 am

The US Department of Commerce has determined that steel concrete reinforcing bar from Mexico was sold in the United States at less than normal value during the period of review of 1 November to 31 October 2020. US DOC determined following weighted-average dumping margins existed

Deacero - 0.00

Grupo Acerero – 33.35

Sidertul – 33.35

Grupo Simec; Compania Siderurgica del Pacifico; Fundiciones de Acero Estructurales; Grupo Chant; Operadora de Perfiles Sigosa; Orge; Perfiles Comerciales Sigosa; Siderurgicos Noroeste; Siderurgica del Occidente y Pacifico; Simec International – 66.7

US DOC published the Preliminary Results for this review in the Federal Register on 3 December 2021 and invited interested parties to comment on those results. US DOC received case briefs on behalf of Deacero, Grupo Simec, Sidertul & Grupo Acerero. US DOC extended the deadline for the final results to 22 April 2022 &the deadline for the final results of this review was 1 June 2022.

voda 13 juni 2022 07:25

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Masteel & Baowu Ink Pact Capacity Replacement Quota Transfer

Strategic Research Institute
Published on :
13 Jun, 2022, 6:08 am

Anhui Province-based Chinese steel producer Ma’anshan Iron and Steel’s subsidiary Changjiang Steel and Zhanjiang Steel entered into the Ironmaking Capacity Replacement Quota Transfer Agreement, pursuant to which Changjiang Steel transferred 550,000 tonnes of ironmaking capacity to Zhanjiang Steel and the Company entered into the Steelmaking Capacity Replacement Quota Transfer Agreement with Baosteel Special Steel, pursuant to which the Company purchased 280,000 tonnes of steelmaking capacity from Baosteel Special Steel.

China Baowu, the controlling shareholder of Magang Group, indirectly holds a total of approximately 53.34% of the Company's shares. Zhanjiang Steel and Baosteel Special Steel are subsidiaries of China Baowu

In September 2018, with the approval of the Anhui Economic and Information Technology Commission, Changjiang Steel implemented a capacity reduction and replacement technical transformation project, i.e. eliminating two 40 tonne converters with a capacity of 1.2 million tonnes and replacing with a 140 tonne electric furnace with a capacity of 1.1 million tonnes and eliminating a 450-cubic-meter blast furnace with a capacity of 550,000 tonnes. The 550,000 tonnes of ironmaking capacity transferred by Changjiang Steel was the eliminated 450-cubic-meter blast furnace with a capacity of 550,000 tonnes.

voda 13 juni 2022 07:26

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Mexico Opens AD Duty Review on Coated Steel from China & Taiwan

Strategic Research Institute
Published on :
13 Jun, 2022, 6:10 am

The Mexican Secretariat of Economy has launched anti-dumping duties on certain coated flat steel products originating in China and Taiwan, following the applications filed by Mexican companies Ternium México and Tenigal. In the sunset review investigation, the period of review & injury investigation period is 1 April 2021 to 31 March 2022. During the period of investigation, the final ruling made in 2017 and the AD measures determined in November 2017 continue to be effective. The AD rate imposed on China is between 22.22%-76.33% and that on Taiwan is 22.26%- 52.57%, depending on the company. In November 2017, the duty rate for Baoshan Iron & Steel Co was adjusted to USD 0.1874 per kg.

The products involved are classified under tariff codes 7210.30.02, 7210.41.01, 7210.41.99, 7210.49.99, 7210.61.01, 7210.70.02, 7212.20.03, 7212.30.03, 7212.40.04, 7225.91.01, 7225.92.01, 7226.99.99, 9802.00.01, 9802.00.02, 9802.00.03, 9802.00.04, 9802.00.06, 9802.00.07, 9802.00.10, 9802.00.13, 9802.00.15, and 9802.00.19 of the TIGIE.

The original AD investigation was initiated on in 2015 & final determination was made in June2017.

voda 13 juni 2022 07:26

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Tata BlueScope Steel Opens Durashine Galleria in Mandi in HP

Strategic Research Institute
Published on :
13 Jun, 2022, 6:12 am

Tata BlueScope Steel has launched DURASHINE Galleria, a concept store for all roofing needs, in the heart of Mandi in Himachal Pradesh last week for enhancing customer experience. DURASHINE is the retail arm of Tata BlueScope Steel that manufactures and markets premium roof and wall cladding products including accessories and solutions. DURASHINE Galleria Mandi is a full range dealership under the aegis of the company's authorized dealer Naina Industries.

This flagship store offers integrated communication for the brand, displaying complete range of key products in vibrant colors of roof and wall cladding options, tiles, liner panel for false ceilings and partitions, innovative products like Woodline for superior aesthetics and Coolshield insulated sheets. Galleria also offers interactive zones in engaging formats for overall customer involvement. Today customers are more discerning and demand product experience before purchase decision

Tata BlueScope Steel is an equal joint venture between Tata Steel & BlueScope Steel and is a market leader in the field of coated steel, steel building solutions and related building products.

voda 13 juni 2022 07:27

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Odisha Government Approves 5 Steel Related Projects

Strategic Research Institute
Published on :
13 Jun, 2022, 6:16 am

The Odisha Government has approved 11 investment proposals worth INR 2,082 crore. Odisha Government’s State Level Single Window Clearance Authority said that the projects are employment intensive in sectors like steel downstream, tourism, IT and ESDM. These include several steel projects of Konark Ispats, ASL Enterprises, PSPL Steel Processors, Khetan Udyog & IFGL Refractories.

The government has approved a proposal by Konark Ispat Limited to set up a 150,oo tonnes per annum rolling mill, 0.6 million tonne per annum pellet plant, coal gasification unit and a 10 MW coal based captive power plant in Jharsuguda district. The company proposed to invest INR 379 crore for the project.

ASL Enterprises’ project to construct a 500,000 tonnes per annum rebar plant has been approved by the Odisha government.

PSPL Steel Processors Limited will construct a 100,000 tonnes per annum capacity for production of downstream products of hot rolled coil like fabricated structures and products for national transporter Indian Railways.

Khetan Udyog Limited will construct a downstream steel processing unit for the cutting, slitting, blanking and stamping of steel products

IFGL Refractories Limited for expansion of its project at the Kalunga Industrial Estate in Sundergarh district at a cost of INR 66 crore was also approved

Odisha has also given its nod to the National Aluminium Company Limited to set up a 3.5 million tonne per annum over land conveyer corridor in Pottangi in Koraput district with an investment of INR 732 crore

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