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voda 9 januari 2023 07:08

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Tata Steel Long Products Steel Production in Oct-Dec’22 up 33% YoY

Strategic Research Institute
Published on :
9 Jan, 2023, 6:07 am

Tata Steel Long Products Limited has reported 33% YoY surge in crude consolidated crude steel production in Octoober-Decemnber 2022 quarter due to inclusion of subsidiary Neelachal Ispat Nigam Limited’s crude steel production of 54,000 tonnes. NINL is presently undergoing ramp up to rated capacity of 1 million tonnes

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October-December 2022 Quarter Production

Direct Reduced Iron – 183 KT, down 1% YoY

Crude Steel - 228 KT, up 33% YoY

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October-December 2022 Quarter Sales

Direct Reduced Iron – 139 KT, up 11% YoY

Saleable Steel - 194 KT, up 18% YoY

----------------------------------------

April-December 2022 Production

Direct Reduced Iron - 620 KT, down 1% YoY

Crude Steel - 580 KT, up 12% YoY

---------------------------------

April-December 2022 Sales

Direct Reduced Iron - 447 KT, up 1% YoY

Saleable Steel - 524 KT, up 6% YoY

Consolidated results include the results for Tata Steel Long Products Limited and its subsidiary Neelachal Ispat Nigam Limited. The Company on 4 July 2022 had completed the acquisition of NINL for a total purchase consideration of INR 12,100. The Company’s holding in NINL’s equity shares is 95.96% as on the reporting date. NINL has restarted the Blast Furnace operations at its Kalinganagar plant in October 2022.

Tata Steel Long Products Limited is one of India’s largest integrated Special Steel and Merchant Direct Reduced Iron players. The steel business has a rich product portfolio of carbon and alloy steel, which primarily caters to automotive customers as well as produces high-end wire rods. Tata Steel Long Products Limited is a subsidiary of Tata Steel Limited, wherein Tata Steel holds 74.91% equity shares.

voda 9 januari 2023 07:09

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SAIL BSP Records All Time High Production & Dispatch in 2022

Strategic Research Institute
Published on :
9 Jan, 2023, 6:08 am

News Reviting has reported that Steel Authority of India KLimited’s Bhilai Steel Plant has recorded all time high production of finished steel and saleable steel in Calendar Year 2022.

Sinter Production of 8.002 million tonnes, surpassing previous best of 7.849 million tonnes achieved in 2021. Sinter Plant 3 recorded production of 5.366 million tonnes in Year 2022, surpassing previous best of 5.192 million tonnes in 2021

Steel Melting Shop-3 that supplies cast blooms for production of rails and cast billets for production of rebars etc recorded best ever production of 2.927 million tonnes of cast steel in 2022, surpassing the previous best of 2.675 million tonnes achieved in the year 2021. This included best ever production of Cast Bloom at 1.130 million tonnes, surpassing the previous best of 1.034 million tonnes achieved in the year 2021 and best ever production of Cast Billets at 1.798 million tonnes, surpassing previous best of 1.641 million tonnes achieved in 2021.

Universal Rail Mill recorded highest ever Prime Rail production of 743,500 tonnes in 2022, surpassing previous best of 628,922 tonnes achieved in the year 2021. Universal Rail Mill also recorded best ever Long Rail Production at 700,700 tonnes, surpassing previous best of 691,986 tonnes achieved in the year 2020.

Total long production from both URM and Rail & Strl Mill in 2022 was also best ever at 843,700 tonnes, surpassing previous best of 691,986 tonnes achieved in the year 2020. The Plant recorded highest ever loading of Long Rails at 866,500 tonnes in 2022, surpassing previous best of 715,644 tonnes achieved in the year 2020.

Modex unit, Bar & Rod Mill recorded best ever finished production at 814,300 tonnes, surpassing previous best of 656,606 tonnes achieved in the year 2021. RMP 3, another Modex unit recorded highest ever total production of 469,600 tonnes, surpassing previous best of 385,430 tonnnes achieved in the year 2021.

BSP recorded highest ever total finished Steel production at 4.277 million tonnes in 2022, surpassing previous best of 3.633 million tonnes achieved in the year 2021, and highest ever Saleable Steel production at 4.667 million tonnes, surpassing previous best of 4.660 million tonnes achieved in the year 2021. Highest ever Total Loading for direct despatches of 2.676 million tonnes was recorded, surpassing the previous best of 2.474 million tonnes achieved in the year 2021.

In the area of techno-economics, highest ever CDI (coal dust injection) rate of 110 Kg per tonne of hot metal has been achieved in Blast Furnaces, surpassing previous best of 77.4 Kg/THM achieved in the year 2021.

voda 9 januari 2023 07:10

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Tata Steel Reports 4% YoY Surge in Steel Production in Oct-Dec’22

Strategic Research Institute
Published on :
9 Jan, 2023, 6:08 am

Tata Steel India’s crude steel production stood at 5 million tonnes in October-December 2022 quarter, up 4% YoY while deliveries stood at 4.73 million tonns, up 7% YoY primarily driven by 11% growth in domestic deliveries, which also led to improvement in product mix.

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October-December 2022 Quarter Production

Tata Steel India - 5.00 million tonne, up 4% YoY

Tata Steel Europe - 2.25 million tonne, down 12% YoY

Tata Steel Thailand - 0.27 million tonne, down 16% YoY

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October-December 2022 Quarter Delivery

Tata Steel India - 4.73 million tonne, up 7% YoY

Tata Steel Europe - 1.96 million tonne, down 9% YoY

Tata Steel Thailand - 0.29 million tonne, down 9% YoY

-----------------------------------------------------

April-December 2022 Production

Tata Steel India - 14.72 million tonne, up 4% YoY

Tata Steel Europe - 7.08 million tonne, down 9% YoY

Tata Steel Thailand - 0.89 million tonne, down 5% YoY

-----------------------------------------------------

April-December 2022 Delivery

Tata Steel India - 13.71 million tonne, up 4% YoY

Tata Steel Europe - 5.98 million tonne, down 10% YoY

Tata Steel Thailand - 0.90 million tonne, down 9% YoY

Production Numbers

India - Crude Steel Production

Europe - Liquid Steel Production

Tata Steel Thailand - Saleable Steel Production

Tata Steel India includes Tata Steel Standalone and Tata Steel Long Products.

Automotive & Special Products’ segment deliveries in India stood at 2 million tonnes and were up 7% on YoY basis, surpassing the previous best recorded in 9M of FY19. For the quarter, deliveries were marginally lower due to drop in automotive production.

Branded Products & Retail’ segment deliveries stood at 4.1 million tonnes and were up 10% YoY, similar to the previous best in 9MFY20. For the quarter, deliveries were up 13% YoY. Tata Tiscon registered best ever quarterly sales enabled by expanded reach.

Industrial Products & Projects segment deliveries stood at ~5.2 million tonnes and were up 13% YoY, surpassing the previous best recorded in 9M of FY20. For the quarter, deliveries were up 15% YoY and were the best ever quarterly sales driven by increase in value added products.

Revenues from Tata Steel Aashiyana, an e-commerce platform for Individual Home builders, grew by around 49% YoY to INR 1,419 crores in 9MFY23.

voda 9 januari 2023 07:10

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India's Steel Consumption up by 12% YoY in Apr-Dec 2022

Strategic Research Institute
Published on :
9 Jan, 2023, 6:09 am

According to Steel Ministry, India's production of crude steel increased by 5% YoY to 92.5 million tonnes in April-December 2022 while finished steel production climbed by 5.7% YoY to 87.9 million tonnes and consumption increased by 11.5% to 85.5 million tonnes. India imported 4.4 million tonnes of finished steel, up by 27.4% YoY while exports decreased by 54.1% YoY to 4.74 million tonnes

Imports at 653,000 tonnes for the December-month, up 9% MoM & 65% YoY, were substantially higher than exports that stood at 442,000 tonnes. As a result, India turned net importer of steel in October-December 2022 quarter with imports outstripping exports by 706,000 tonnes. Imports in November and October were 600,000 tonnes and 593,000 tonnes while exports during these months were 338,000 tonnes and 360,000 tonnes, respectively. For October-December 2022 quarter, steel imports were pegged at 1.846 million tonnes against 1.140 million tonnes of exports.

voda 9 januari 2023 07:11

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Extraordinarily Bad Logic in UK’s Steel Industry - Mr Tim Worstall

Strategic Research Institute
Published on :
9 Jan, 2023, 6:10 am

Adam Smith Institue’s Mr Tim Worstall wrote in a blog “EXTRAORDINARILY BAD LOGIC IN THE STEEL INDUSTRY’ or, perhaps, just extraordinarily bad logic being used to justify yet another hand out to the steel industry in UK. He wrote “In general this is not a bad outline of what is going on. Blast furnaces are large, highly polluting, in the CO2 sense, methods of making virgin steel. Arc furnaces are a lower capital cost method of reutilising steel scrap. We like recycling but it’s not possible to recycle forever, impurities, called tramp elements, do accumulate. So, we’ll always need some amount of virgin steel to be added into the system. If blast furnaces are out, what are we to do? There are answers, DRI and so on are alternatives to blast furnaces. As those old furnaces go to die, they do, takes decades, but they do, then replace them with the new technology.

Mr Worstall wrote “All of that is fine, justified and sensible. Then comes the switch. If the UK is to retain a steel industry while at the same time treading the path to industrial net zero, the blast furnaces as they are have to be retired. Tata’s and Jingye’s demands for support from the government is linked to high energy prices and the carbon emissions penalty regimes that make UK steel production uncompetitive and prevent investment in new technologies.

Mr Worstall added “Ah, no. DRI doesn’t have those emissions, doesn’t use coke for example, and so installing DRI means not paying the emissions penalty. This is rather the point of the emissions penalty, so that people will move over to the non-emittive technology. Whether we talk Stern - tax emissions now - or Nordhaus - make sure everyone knows we’ll tax future emissions - doesn’t matter. The entire point of the carbon tax, which is what this is, is that when the furnaces get replaced they’ll be with the new tech precisely and exactly so that it won’t pay the emissions penalty.”

Mr Worstall also said “But what is the claim being made by the steel industry here? That they require subsidy to build anew with the cheaper tech, which is absurd. We’re deliberately fining them for the use of the old tech, in order to make it more expensive relative to the new. To provide that impetus for the adoption of the new. Yet now they’re demanding a subsidy to reduce their own costs? Closing the blast furnaces, fine, we want this to happen. That’s the very point of the emissions penalty. Subsidy to do so? No, not when we’re actively fining people into doing so.”

Mr Worstall concluded “The strategic roadmap is just fine. The demand for subsidy along the way - nope, they can go boil their heads.”

The latest emergency in UK’s steel sector is sparked by the demand by British Steel for GBP 300 million bailout of its Scunthorpe plant and Tata Steel’s Port Talbot works urging the government to come up with a strategic investment plan, with the threat of the loss of tens of thousands of jobs.

voda 9 januari 2023 07:26

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Nel & Statkraft to Build Hydrogen Value Chain in Norway

Strategic Research Institute
Published on :
9 Jan, 2023, 3:30 am

Hydrogen Technology Company Nel and Europe’s largest supplier of renewable energy, Statkraft, newly signed a contract for delivery of 40 MW electrolysers and will thus collaborate to create a strong value chain for production of green hydrogen in Norway.

Statkraft recently placed a purchase order for 40 MW of alkaline electrolyser equipment from Nel. The electrolyser stacks will be produced at Nel’s manufacturing plant at Herøya and used for the production of renewable hydrogen in one of Statkraft’s many hydrogen projects.

As Europe’s largest supplier of renewable energy, Statkraft has the ambition to accelerate its annual development rate to 4 GW of new power production per year and to add 2 GW of renewable hydrogen production by?2030. In Norway Statkraft will strengthen its efforts in developing new renewable power production as well as flexibility within hydropower and wind power both on- and offshore.

voda 10 januari 2023 07:23

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Ex Balli Steel Treasurer Pleads Not Guilty in Trade Finance Fraud

Strategic Research Institute
Published on :
10 Jan, 2023, 4:49 am

GT Review reported that collapsed UK headquartered Anglo-Iranian steel trader Balli Steel’s former treasury chief Ms Melis Erda, who was employed by London-headquartered Balli Steel from 1997 until it entered administration in early 2013, has pleaded not guilty to one count of fraudulent trading and six counts of conspiring to defraud trade finance lenders Bank ABC, DBS Bank, KBC, Rabobank and The Economy Bank, which was later acquired by BNP Paribas. Ms Erda told a jury in London that she did not know that the company allegedly created fake shipping and sales documents and deceived banks in order to secure trade finance as the company battled a liquidity crunch.

Ms Erda told the court that during 2012 she was undergoing several tests and procedures attempting to diagnose and treat a serious illness, which distracted her from her job. Ms Erda told “I was ill. I wasn’t in the office most of the time. My mind was busy with something else. I was forwarding emails [from banks] to traders including Nasser and he was sending me updates on each deal and I was sending them back to the banks. There was no reason for me to believe they were doing any false, fake documents.”

Ms Erda is the first defendant to give evidence in the trial, which began at Southwark Crown Court in September and is expected to conclude later this month or in early February. The directors brothers Mr Vahid Alaghband 70 & Mr Nasser Alaghband 61 and David Spriddell 60 along with senior employees Louise Worsell 67 and Ms Melis Erda 56, were allegedly part of a scheme to induce trade finance banks to carry on lending money to keep the company going. Except Balli’s former CEO Mr Nasser Alaghband, who pled guilty last year to one count of fraudulent trading, they are also on trial for various counts of conspiracy to defraud and fraudulent trading.

Balli Steel collapsed owing more than GBP 328 million to creditors and following a years-long investigation, the Serious Fraud Office alleges that the company’s directors were engaged in widespread and systematic fraud and financial misconduct. The SFO alleges the four individuals enticed trade finance banks to lend by using fake documents or other means to fabricate transactions where no steel was actually being traded, or lied to banks about payments that had not been received when in fact they had been. False documents are said to have been used to secure short-term loans which were meant to be repaid when Balli sold on steel. Balli Steel was kept going by the obtaining of further trade finance. This trade finance was used to repay outstanding amounts on previous trade finance loans. In this way, the lack of profitable trade or latterly any trade at all was hidden from the trade finance banks. To put it colloquially, a time came when those involved in obtaining and extending trade finance at Balli Steel were effectively robbing Peter to pay Paul.

voda 10 januari 2023 07:23

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Danube Shipping Bags Contract for HBIS Serbia’s Cargo Transport

Strategic Research Institute
Published on :
10 Jan, 2023, 4:51 am
Ukrainian Danube Shipping Company has won the tender of HBIS Serbia for transporting more than 500,000 tonnes of cargo through Danube River and provides fleet with stable work throughout the year with the possibility of increasing the volume of transportation.

UDP carries out river freight transportation on the Danube. The company operates more than 20 self-propelled vessels of the cargo river fleet and approximately 200 non-self-propelled vessels, which allows the operation of approximately 20 barge caravans. In January-October 2022, the river fleet transported almost 1.5 million tonnes of cargo, up by 3.7% YoY.

voda 10 januari 2023 07:24

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Scotlands Ferries Being Built in Turkey with Chinese Steel

Strategic Research Institute
Published on :
10 Jan, 2023, 4:53 am

The Herald Scotland reported that Scotland’s ministers have come under fire after state-controlled ferry owners Caledonian Maritime Assets has confirmed that steel from China is being used for two new ferries being built in Turkey because sourcing materials from war-torn Ukraine has been ruled out.

In the Islay ferries contract award, Caledonian Maritime Assets, which owns the nation's ageing ferry fleet, had invited four overseas companies to bid to build the two vessels bound for Islay. State-controlled Ferguson Marine failed to get past the first Pre Qualification Questionnaire hurdle in the Islay ferries contract and is still struggling to produce two delayed vessels.

Cemre Marin Endustri shipyard is three months into the construction of two new lifeline ferries for Islay as part or a GBP 105 million contract controversially given to the Turkish shipyard eight months ago. They have already been named preferred bidder to win a GBP 115 million contract to build two more ferries for longsuffering islanders as attempts are made to shore up the nation’s ageing ferry fleet.

Mr Jim McColl, owner of Ferguson Marine before it fell into administration in August, 2019 and then nationalized said he was surprised that the steel is being sourced in China. He said “During my ownership of the yard, we were specific about not buying steel from China, largely because of issues about quality control.”

Scottish steel magnate Sir David Murray said he is surprised the steel had not been sourced from Scotland's last major steelworks which was formally reopened by First Minister Nicola Sturgeon in 2016. The Dalzell plate mill in Motherwell was mothballed by Tata Steel in 2015, along with the Clydebridge plant in Cambuslang. About 225 jobs were lost. It was rescued by Sanjeev Gupta’s now-troubled GFG group which took over both facilities under a deal brokered by the Scottish government's steel task force. Dalzell has traditionally provided steel plate for industries such as shipbuilding, construction, mining, oil production and heavy vehicle manufacture.

voda 10 januari 2023 07:24

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Environment Department Issues Prohibition Notice to Dayals Steels

Published on :
10 Jan, 2023, 4:54 am

Fiji Times reported that Fiji Island’s steel maker & processor Dayals Steels Managing Director Mr Jay Dayal says the livelihood of 200 workers is at risk as a result of the Prohibition Notice that was slapped on the company by the Department of Environment. He told “Dayals Steels is an ISO 14001 Environment Management Systems accredited company that processed recycled steel into reinforcement bars using modern state of art green furnace technology. We also address the nation’s growing problem of collecting waste oil by burning them at high temperatures in our reheating furnaces. The high temperature destroys any volatile components of the waste oil.”

Mr Dayal said Mr “The prohibition notice referred to internal compliance and documentary matters and there was no evidence of any external breaches such as pollution or degradation of the environment.”

He claimed “The Director of Environment had failed to carry out any site inspection to ascertain any breaches before bluntly issuing the company with a Prohibition Notice.”

He urged “We call upon the Prime Minister to intervene and take reasonable steps to resolve this situation.”

The Department of Environment had issued a Prohibition Notice to the company this week citing various breaches to the Environment Management Act 2005.

Founded by Managing Director Jay Dayal, Dayals Steels is the largest industrial and manufacturing investment in ßa in the past decade and supplies

Rebars & Rebar accessories

Roofing Products - 5 Ribbed Profile & Corrugated Profile

Steel Purlins - C Section & Z Section

Mesh Products – Reinforcing Mesh & Galvanized Mesh

Rainwater Goods - Square Line V Gutters, Box Gutters, Barge Flashings, Ridge Caps & Valley Gutters

voda 10 januari 2023 07:25

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Unions Urge for Use of Made in UK Steel in British Warships

Strategic Research Institute
Published on :
10 Jan, 2023, 4:55 am

UK’s The Mirror UK’s Campaigners have urged the British Government not to slap British workers with a double betrayal by ordering foreign steel for a shipbuilding deal handed to a Spanish-led bid. Unions and MPs were furious in December when the GBP 1.6 billion contract for three Fleet Solid Support vessels was awarded to the Team Resolute consortium, led by Madrid-based Navantia. Now, unions want the Government to guarantee only UK-made steel will be used for the 709 feet 40,000-tonne Royal Fleet Auxiliary vessels, which will resupply Royal Navy warships with food, ammunition and explosives.

Prospect Union General Secretary Mr Mike Clancy has written to Defence Secretary Mr Ben Wallace urging him to insist the shipbuilders only use British steel. Mr Clancy wrote “It is deeply disappointing that the deal has been awarded to a Spanish-led consortium over a British-led Team UK bid, which would have created many more skilled jobs here in the UK, made the largest contribution to the UK Exchequer and allowed HM Treasury to gain revenue from potential export orders.”

Blasting the short-sighted decision, Mr Clancy has called on Mr Wallace to confirm the government will be seeking cast-iron and legally enforceable guarantees from Team Resolute on

1. The share of the work that will take place in the UK

2. The proportion of the total contract value that will be spent in the UK

3. That British steel will be used to build the FSS ships

voda 10 januari 2023 07:26

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CMC’s Quarterly Results Rise on North American Strength

Strategic Research Institute
Published on :
10 Jan, 2023, 4:57 am

US’s leading steelmaker Commercial Metals Company announced that it fiscal first-quarter results ended on 30 November grew from last year, driven by strong North American demand for finished steel products, while the company offered a mixed view regarding the current period. CMC said “Adjusted per-share earnings rose to USD 2.24 from USD 1.62 a year earlier. Net sales for the quarter advanced to USD 2.23 billion from USD 1.98 billion.”

CMC said “North American revenue jumped to USD 1.82 billion from USD 1.65 billion. The metal products manufacturer reported higher selling prices for steel and downstream products and lower costs, saying there were signs suggesting that per unit costs for certain consumables may have peaked. In North America, we again benefited from strong demand, enabling us to achieve near record quarterly segment adjusted EBITDA.”

CMC generated USD 406.5 million in sales from Europe, up from last year's USD 329.1 million, even as average selling prices decreased. Polish construction activity grew modestly, while industrial production across central Europe remained in contraction, according to a statement. The division's adjusted earnings before interest, tax, depreciation and amortization fell 19% amid higher costs for energy and a weaker Polish currency in relation to the dollar. Europe operations leveraged their excellent relative cost position to gain market share, shipping high volumes despite dynamic and uncertain market conditions.

CMC expects good financial results for the fiscal second quarter, compared to historical levels, but finished steel volumes and margins for the two divisions are expected to drop sequentially due to weather conditions and holidays. CMC CEO Ms Barbara Smith said “While we anticipate some sectors of the construction market will likely be impacted by the changing interest rate environment, current and new reshoring projects, as well as rising levels of infrastructure spending, are expected to support CMC's North America volumes in the quarters ahead.”

CMC is targeting a spring start date for its Arizona 2 micro mill project. Commercial Metals in April acquired soil reinforcement solution provider TAC Acquisition from New York-based private equity firm Castle Harlan.

voda 10 januari 2023 07:26

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US Continues AD Duty on Stainless Steel Wire Rods from India

Strategic Research Institute
Published on :
10 Jan, 2023, 4:58 am

As a result of the determinations by the US Department of Commerce and the US International Trade Commission that revocation of the antidumping duty order on Stainless Steel Wire Rods from India would likely lead to a continuation or recurrence of dumping and material injury to an industry in the United States, Commerce is publishing a notice of continuation of 48.8% AD duty order.

On 1 December 1993, Commerce published in the Federal Register the AD order on SSWR from India. On 2 May 2022, Commerce initiated and the ITC instituted, a sunset review of the Order

The products covered by the Order are SSWR from India. SSWR are products which are hot-rolled or hot-rolled annealed and/or pickled rounds, squares, octagons, hexagons or other shapes, in coils. SSWR are made of alloy steels containing, by weight, 1.2 percent or less of carbon and 10.5 percent or more of chromium, with or without other elements. These products are only manufactured by hot-rolling and are normally sold in coiled form, and are of solid cross-section. The majority of SSWR sold in the United States are round in cross-section shape, annealed and pickled. The most common size is 5.5 millimeters in diameter.

This merchandise is currently classifiable under subheadings 7221.00.0005, 7221.00.0017, 7221.00.0018, 7221.00.0020, 7221.00.0030, 7221.00.0040, 7221.00.0045, 7221.00.0060, 7221.00.0075, and 7221.00.0080 of the Harmonized Tariff Schedule of the United States.

voda 10 januari 2023 07:27

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Vietnam’s Construction Industry to recover in 2023

Strategic Research Institute
Published on :
10 Jan, 2023, 5:00 am

VIR reported that after a period of social distancing to avert the pandemic outbreak in 2021, Vietnam’s construction companies had approached 2022 with an upbeat disposition due to the revival of economic activity and anticipated a surge in public investment and real estate market activity. However, 2023 has begun and there has been a significant gap between plans and execution for building companies. Both anticipated growth drivers for the construction industry failed to materialize as public funding was disbursed slowly and the real estate market slowed to a halt. Additionally construction industry was under pressure from growing input prices and outstanding debts.

According to recent VNDIRECT research report, Vietnam’s building sector could revive due to the strategy of boosting public investment and the price adjustment of raw materials. In 2023, it is anticipated that over USD 33 billion in public investments will be made.

VNDIRECT anticipates that the disbursement of public investment in 2023 will increase by 20-25% compared to the actual disbursement in 2022. This is due to the bottleneck of a dearth of construction stone and backfill soil being eliminated when the government grants mining permits for new mines, and the prices of construction materials such as iron and steel, cement, and construction stone are anticipated to decrease next year.

In 2023, the background variables of lower input prices and better employment resulting from the public investment drive will hopefully improve the outlook for contractors.

voda 10 januari 2023 07:27

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US Steel Production Enters 2023 with 71% Capacity Utilization

Strategic Research Institute
Published on :
10 Jan, 2023, 5:02 am

American Iron & Steel Institute reported that in the week ending on 7 January 2023, US domestic raw steel production was 1.595 million net tons while the capability utilization rate was 71.3%. Production was 1.735 million net tons in the week ending 7 January 2022 while the capability utilization then was 79.8%. Last week’s production represents 8.1% decrease from the same period in the previous year. Production for the week ending 7 January 2023 is down 0.4% from the previous week ending 31 December 2022 when production was 1.602 million net tons and the rate of capability utilization was 71.8%

Week 01 Crude Steel Production

Southern: 654,000 net tons

Great Lakes: 541,000 net tons

Midwest: 200,000 net tons

North East: 128,000 net tons

Western: 72,000 net tons

voda 10 januari 2023 07:28

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Global Shipbreaking Markets at Multi Year Low in 2022

Strategic Research Institute
Published on :
10 Jan, 2023, 5:04 am

World’s leading buyer of old ships for recycling GMS said “As we reflect on the year gone by and look forward to a busier and healthier 2023 for the various recycling destinations, 2022 has been the lowest year for more than a decade across all ship recycling locations. All freight & dry sectors started to fly simultaneously at various points during 2022 and even the wet & tanker markets started rallying thereafter, and with stunning results. However, Container and Dry Bulk markets finally started to cool off towards the end of the year, and it is from these segments that we can anticipate seeing a majority of the recycling tonnage in 2023.”

GMS said “Compared to previous years, a much smaller number of vessels have been beached in India during 2022, and it is a similar story in Pakistan, Bangladesh, and even Turkey, where local Recyclers have been likewise starved of tonnage.”

GMS added “The financial situation in Pakistan as well as Bangladesh has started to become a real cause of concern to the industry, with governments in both countries now unwilling to sanction fresh LCs from their precious and dwindling US Dollar reserves.”

GMS said “For the time being, the only sub-continent market of any reliability remains India, and whilst the supply of vessels remains mercifully low, prices are managing to hold up somewhat in Alang, while the number of small LDT arrivals at Chattogram’s waterfront has started to pick up in 2023. Unsurprisingly, 2023 seemed to have kicked off well in Turkey as well, as steel plate prices, both import and local steel, have reported noteworthy gains over the last couple of weeks, resulting in post-New Year prices jumping by nearly USD 40 per tonne, finally breaching USD 300 per tonne, certainly an impressive return to form.”

GMS concluded “Overall, in order for levels to maintain their present buoyancy, bearing in mind the decade average on scrap prices of around USD 350 per LDT, we will need each market to be firing on all cylinders this year to absorb the expected influx of vessels that will surely be seen.”

GMS demo rankings – India/Pakistan/Bangladesh – Week 01 unchanged

Dry Bulk – USD 500-520 per LDT

Tankers – USD 510-530 per LDT

Containers - USD 520-540 per LDT

voda 10 januari 2023 07:28

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Algoma Steel Lowers Third Quarter 2023 Guidance

Strategic Research Institute
Published on :
10 Jan, 2023, 5:05 am

Leading Canadian producer of hot and cold rolled steel sheet and plate products Algoma Steel expects total steel shipments to be approximately 455,000 tons in fiscal third quarter 2023 and Adjusted EBITDA is expected to be in a range of CAD (35-45) million. Algoma Steel’s Chief Executive Officer Mr Michael Garcia said “The sequential decrease in steel shipments and Adjusted EBITDA as compared to the fiscal second quarter 2023 is largely due to lower than expected plate shipments, continued softening in steel pricing, and normal seasonal maintenance activities ahead of winter.”

Mr Garcia said “Despite a return to more typical levels of unfinished plate production, total plate shipments were adversely impacted by temporary downstream finishing constraints as we ramped up plate production. These impacts to Adjusted EBITDA adversely offset the expected benefit of higher sequential production volumes from the Direct Strip Production Complex operations as compared to the fiscal second quarter 2023.”

Mr Garcia concluded “We expect to produce Adjusted EBITDA of CAD 395 million to CAD 405 million for the first nine months of our fiscal 2023. I am pleased that the plate mill has resumed normal production levels. We expect to return to more normalized shipments in calendar 2023, and to apply the lessons learned during phase one of the Plate Mill Modernization to our future capital projects. This will reflect the more robust earning power of Algoma. We remain laser focused on completion of our transformative electric arc furnace project, which remains on budget and on track to be producing steel in calendar 2024, as we transition to being one of the greenest producers of steel in North America.”

voda 10 januari 2023 07:29

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US DOC Fixes AD Duty for Cold Drawn Mechanical Tubing of TPI

Strategic Research Institute
Published on :
10 Jan, 2023, 5:06 am

The US Department of Commerce has determines that Tube Investments of India’s Tube Products of India made sales of Cold-Drawn Mechanical Tubing of Carbon and Alloy Steel in the United States at prices below normal value during the period of review of 1 June 2020 to 31 May 2021. US DOC said “Based on our analysis of the comments received and our verification findings, Commerce made certain revisions to the margin calculations for TIL The Issues and Decision Memorandum contains descriptions of these revisions. We determine that the following weighted-average dumping margin exists.”

Tube Products of India - 16.80%

On 7 July 2022, Commerce published the preliminary results of the 2020-2021 administrative review of the antidumping duty order cold-drawn mechanical tubing from India, covering TPI.

The merchandise subject to the Order is cold-drawn mechanical tubing from India. The product is currently classified under the Harmonized Tariff Schedule of the United States subheadings: 7304.31.3000, 7304.31.6050, 7304.51.1000, 7304-51-5005, 7304-51-5060, 7306.30.5015, 7306.30.5020, and 7306.50.5030. Subject merchandise may also enter under 7306.30.1000 and 7306.50.1000.

voda 10 januari 2023 07:29

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Hoa Phat’s Steel Sales Shrinks by 7% in 2022 amid Weak Market

Strategic Research Institute
Published on :
10 Jan, 2023, 5:08 am

Vietnamese steel giant Hoa Phat has announced that its sales of steel products came to 558,000 tonnes, in December 2022 up by 26% YoY. In particular, construction steel sales increased by 42% YoY to 358,000 tonnes, while HRC sales totaled 144,000 tonnes, down by 20% YoY

Hoa Phat supplied the market with 7.2 million tonnes of steel in 2022, down 7% YoY as compared to 2021 amid market fluctuations, including construction steel.

voda 10 januari 2023 07:30

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Hitech Pipes Signs MoU with UP for Steel Pipes & Flat Steel Plants

Strategic Research Institute
Published on :
10 Jan, 2023, 5:09 am

Hitech Pipes has signed MoU with Government of Uttar Pradesh to set up a manufacturing faculty of steel tubes & pipes and flat steel processing. Under this MoU the proposed Investment will be of INR 510 crores in phased manner.

Nearly 40 year old, Hitech Pipes is leading steel processing companies in India with a strong presence in steel pipes, hollow sections, tubes, cold rolled coils & strips, road crash barriers, solar mounting structures, GP/GC Sheets, Color Coated Coils and a variety of other galvanized products. The Company operates manufacturing facilities at Sikandrabad in UP, Sanand in Gujarat, Hindupur in AP and Khopoli in Maharashtra, with an installed capacity of 580,000 tonnes per annum, on a consolidated basis.

Vertraagd	10 jun 2024 17:38
Koers	23,290
Verschil	-0,110 (-0,47%)
Hoog	23,450
Laag	23,020
Volume	2.239.679
Volume gemiddeld	2.699.557
Volume gisteren	3.200.862

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