Eurobench.com

voda 15 december 2016 17:18

0

Chhattisgarh govt to relocate Bastar ultra mega steel plant from Dimli

Business Standard reported that Chhattisgarh government has decided to shift the site of its proposed ultra mega steel plant which was supposed to come up in Bastar's Dilmili village. The plant was a result of joint venture agreement inlvolving the state government, Steel Authority of India Limited and the National Mineral Development Corporation.

Chhattisgarh Chief Minister Raman Singh said that “SAIL is a little slow on the project.”

He however added that the proposal is expected to speed up in the coming days.”

Earlier, the Left parties had launched a protest at the project site in Dilmili. The state government has given indications that it may shift the project's location to Bastar's Lohandiguda area, where a plot of land remains vacant. The proposed land was previously allotted to Tata Steel for developing a 5.5 mtpa steel plant in the area.

The agreement was signed last year in May but the project has failed to take off even after the lapse of more 18 months. The Dilmili project was part of part of the four UMSPs planned by the NDA government in Chhattisgarh, Odisha, Jharkhand and Karnataka. The initial production capacity of all four plants would be 12 million tonnes per annum, which would gradually be scaled up to 24 million tonnes per year.

Source : Business Standard

voda 15 december 2016 17:20

0

Liberty eyes TATA Steel UK speciality steels business - Report

Trade Arabia reported that international industrials and metals group, Liberty House, has entered into exclusive negotiations with Tata Steel UK to acquire its speciality steels business for GBP 100 million (USD 126 million).

The acquisition would secure the jobs of around 1,700 steel-workers at major production facilities in Rotherham and Stockbridge, a mill in Brinsworth and at service centres in Wednesbury and Bolton, plus thousands more in the UK supply chain.

The planned deal, in combination with Liberty's existing industrial foot print in the UK, would establish the group as one of Britain’s most significant steel and engineering employers.

The speciality steels plants specialise in manufacturing carbon, alloy and stainless steels for highly-demanding applications, with all of the output derived from recycled steel, melted in electric arc furnaces. This globally leading business also has distribution facilities in China.

The acquisition would be a significant step in realising Liberty’s Greensteel vision which promotes widespread melting and upcycling of UK domestic scrap metal, using arc furnaces powered from renewable energy sources.

Mr Sanjeev Gupta executive chairman of the Liberty House Group said that "We look forward to working with Tata Steel over the coming weeks to complete this hugely important milestone transaction. We recognise the world-class skills of the Speciality Steels workforce and are eager to join with them to develop the business and increase market share, both domestically and internationally using our global presence."

He added that"As part of that process we will now engage fully with the trade unions and the local community. We are counting on their full support.”

Completion of the acquisition is subject, among other things, to confirmatory due diligence, and obtaining any merger clearances and definitive acquisition documentation.

Liberty House and Tata Steel expect the acquisition to complete early in the first quarter of 2017.

Macquarie Capital (Europe) is acting as financial advisor to Liberty House.

Source : Trade Arabia

voda 15 december 2016 17:21

0

Steel growth in Iran driven by construction, auto & railroad boom

Financial Tribune reported that projects underway in Iran in the construction, automotive and railroad infrastructure sectors should provide a substantial boost to demand for steel in the country.

Annual demographic growth in Iran is estimated at 1.30% while housing demand in the country is around 1.5 million new units per year. But at present, only around 700,000 units per year are being completed due to a lack of financing, which is causing a significant housing shortage.

In the last Iranian year (ended March 19, 2016), the country’s approved construction budget was USD 13.4 billion. But in reality, less than half of that was realized, which resulted in nearly 3,000 projects being abandoned and a significant drop in domestic demand for construction materials, including steel products.

Last year, the country’s official total apparent long steel consumption was around 8 million tons. Market participants, however, said the real figure was far below this volume. Local rolling mills have been hit hard by the recession in the construction industry, working at reduced capacity utilization rates and sometimes almost idled. However, the removal of international trading sanctions earlier this year is expected to lead to a gradual revival of the country’s construction industry and in turn to a growth in demand for steel.

According to Bijan Khajehpour, managing partner at Austria-based consultancy Atieh International, “Now we are going to see a phase of new investment and greater demand for housing units. Construction materials will be more easily available and potentially a bit cheaper.” He added that “There will be demand and a flow of both [the] Iranian diaspora and international companies back into Iran.”

In 2016, the construction sector is projected to be worth $154.4 billion, and over the next five years, the industry is expected to see annual growth at a rate of 6.10%.

One of the largest steel-intensive infrastructure projects in Iran is railroad expansion. The country plans to increase the length of its rail system from around 15,000 km to 25,000 km in less than a decade. The project includes rails for new lines as well as the existing double-tracked ones.

The country’s railroad network mostly consists of non-electrified, single-track lines centered on Tehran. This means that many large cities are omitted, and slow, circuitous journeys are usually required to travel between neighboring urban areas. But in addition to getting its own people and goods moving, Iran intends to become a bridge linking Europe, Asia and Africa.

Besides the construction, pipe and profiles sectors, the automotive industry is one of the most important consumers of flat steel products in Iran. In the last Iranian year, total flat-rolled steel consumption in the country was around 7 million tonnes. The automotive industry consumed around 10% of this volume, according to estimates by market insiders. The material was both imported (predominantly from South Korea) as well as sourced from leading local flat-rolled steel producer Mobarakeh Steel Company.

Despite a significant drop in production over the past few years, Iran remains the region’s largest car producer. In 2011, the country’s production figure was 1.6 million units, while in 2015 a total of 976,840 units were made. This year, the automotive industry is expected to see 15% growth. In the first half of 2016, Iran produced 562,374 units, more than 90% of which were light vehicles, according to the International Organization of Motor Vehicle Manufacturers.

Source : Financial Tribune

Bijlage:

voda 15 december 2016 17:21

0

Chinese steel firm Zhen Zhen starts operation in Ethiopia

News Ghana reported that Chinese steel manufacturing company Zhen Zhen officially commenced its steel production in Ethiopia on Tuesday. The newly inaugurated steel plant, located in the Eastern Industry Zone in Ethiopia’s capital Addis Ababa, has an investment of USD 23 million as part of its first-phase operation.

Raising a total investment of 50 million dollars, the second and third phases of the project will further boost company’s steel production capacity, according to Yi Xiu, General Manager of Zhen Zhen.

Though company’s current target is the Ethiopian market, it will soon embark on exporting its products to other East African markets and beyond, noted the manager.

With a capacity to produce 200,000 tonnes of steel products per year in its first phase, the plant is expected to have an annual output of 3.8 billion Ethiopian Birr (170 million dollars).

Source : News Ghana

Bijlage:

voda 15 december 2016 17:22

0

CSC likely to hike steel prices for Q2 further by 5-8% - Analyst

Taipei Times reported that Taiwanese steel giant China Steel Corp is expected to increase its product prices for deliveries in the second quarter of next year by between 5-8%, taking a cue from climbing global steel prices CSC last month hiked steel prices by 12.6% for deliveries in the first quarter of next year, citing rising material costs.

Yuanta Securities Investment Consulting Co analyst Leo Lee said “The adjustment was better than our previous expectations, driven by a price rebound of feedstock and downstream restocking demand.”

He said “As the rise in steel prices only reflected about 60 percent of the increase in material costs, CSC is expected to further raise steel prices for shipments in the second quarter of next year.”

He wrote “The uptrend in steel prices would help drive earnings growth for the steelmaker during the first half of next year. We have raised our forecast of the company’s earnings per share by 13 percent to NT$1.52 next year, due to a better gross margin assumption.”

Source : Taipei Times

voda 15 december 2016 17:24

0

Tenova Pyromet switches in India’s largest SiMn furnace for SAIL at Chandrapur

High capacity furnace and smelting plant specialist, Tenova Pyromet announced that the 45 MVA submerged arc furnace for the Steel Authority of India Ltd’s Chandrapur Ferro Alloy Plant has been successfully switched in.

Source : Strategic Research Institute

Bijlage:

voda 15 december 2016 17:26

0

UK government publishes steel requirements till 2020 in a bid to boost domestic industry

City AM reported that UK government has published details of its plan to use 3m tonnes of steel in infrastructure projects by 2020 in a bid to give beleaguered domestic steelmakers a better chance of winning government contracts. The amount of steel required across 18 central government infrastructure projects, including HS2, the Hinkley Point nuclear power plant and upgrading the motorway system, will be equivalent to 173 Wembley stadiums, the Department for Business, Energy and Industrial Strategy said

Information on indicative future steel requirements will now be published on an annual basis. Alongside the estimates on upcoming projects needing steel, the government has also updated procurement guidance that sets out how the wider public sector is covered and has removed a previous £10m threshold.

Business and energy secretary Greg Clark said that "The government has been absolutely clear that we want to do all we can to support our world-class steel industry.”

These changes will ensure that UK steel companies can better plan for the long term, giving them an even greater chance of securing government contracts.

We want UK companies big and small to be bidding for and winning government contracts which is why our upcoming Industrial Strategy is so important. This strategy will ensure we make the right investments in science, research, skills and infrastructure so that British industry wins contracts by producing the best goods and services.

The steel crisis came into the fore this year when Indian conglomerate Tata Steel said in March it would sell its UK assets, including the Port Talbot steelmaking plant in Wales.

Source : City AM

voda 15 december 2016 21:09

0

Sabic makes steel unit an affiliate as part of wider consolidation move

The National reported that Sabic plans to make its steel unit an affiliate company, as the region’s biggest petrochemical producer consolidates its operating units.

But the move should not be seen as preparing the ground for a sale, said Abdulaziz Sulaiman Al Humaid, the executive vice president metals at Sabic. He told the Middle East Iron and Steel Conference in Dubai the move would make the Saudi Iron and Steel Company, or Hadeed, more efficient. He said that "The ownership is going to be the same and our customer base won’t see any change, but the key thing is being more efficient in our business. This has nothing to do with a sale of the company or it is not a sign of preparing the company for sale."

Sabic aims to complete the process by July or August.

With assets worth more than US$90 billion, Sabic is one of the biggest petchem producers in the world. Hadeed represents about 10 per cent of its portfolio.

Source : The National

Bijlage:

voda 15 december 2016 21:09

0

Philippines DTI withdraws certification of Chinese steel bars

ABS-CBN News reported that Philippines Department of Trade and Industry withdrew the certification of 20,000 metric tons of imported Chinese steel bars.

DTI said the import commodity clearance issued to Manage Resources Trading Corporation was recalled "to ensure that the shipment meets the required laws, rules and standards required for traceability, quality, and safety."

The Philippine Iron and Steel Institute welcomed the trade department's decision to recall the import’s certification, saying the act of withdrawal was “in the interest of public safety."

Philippine Iron and Steel Institute president Roberto Cola said that “The Philippines is located in an earthquake zone and typhoon area, so the best disaster prevention is to prevent sub-standard mandatory steel products from being sold in the market.”

DTI said that investigations by Philippine Iron and Steel Institute on the October 2013 earthquake in Cebu and Bohol revealed substandard and uncertified steel bars were used in the damaged buildings and infrastructure.

Source : ABS-CBN News

voda 15 december 2016 21:11

0

Community union welcomes plans for spending on steel usages in UK

The Northern Echo reported that the plans for steel use in UK were welcomed by Mr Rickhuss, general secretary at the Community union, who said unions’ calls were finally being heeded. Mr Roy Rickhuss a senior union official claimed that government proposals to open up the bidding process can be a catalyst for companies’ growth.

He said that “This is another step towards a joined-up industrial strategy that supports our steel industry. Using public sector procurement to deliver for the UK’s steel producers has been a key demand of our campaign and an issue we have raised for many years. The changes the Government made last year were a positive step and showed they were starting to listen to the voices of steelworkers and employers.”

He added that “Now we need to see these changes put into practice so UK companies are winning contracts and we can continue down the path towards a sustainable future.”

Source : The Northern Echo

Bijlage:

voda 15 december 2016 21:14

0

Middle East region steel makers slash costs as prices of raw materials surge

The National reported that steel makers across the region are slashing costs as they respond to a global slump in prices, currency volatility and the threat of protectionism. Mr Saeed Al Remeithi CEO on the sidelines of the Middle East Iron and Steel Conference in Dubai said that Emirates Steel has reduced costs by more than 30% over three years as the Abu Dhabi mill seeks to become more "agile".

Mr Al Remeithi said that "At present, market reports indicate that the financial performance of steel-producing companies in the region has taken a strong setback. Steel makers faced further volatility next year and acknowledged that the rise of protectionist policies was not a healthy indicator for the industry.”

Unicoil, a Saudi producer of steel and aluminium coils, has cut operating costs by a quarter this year, said Rayed Abdullah Al Ajaji, its chief executive. "We have seen a lot of delayed payments from regional customers," he said. "Cash lent to new projects has become more conservative."

Other regional steel producers, including Unicoil and Sabic unit Hadeed, have also been forced to cut back in a year when the cost of raw materials like coking coal and iron ore more than doubled.

More than half of the steel that is consumed regionally is imported, which means that producers in countries like Turkey are benefiting from an increasing competitive advantage compared to peers in the UAE and Saudi Arabia, which have currencies pegged to the strong US dollar. Turkish producers of rebar represent the main competition to producers such as Emirates Steel and Saudi Arabia’s Hadeed in the regional construction industry.

The Turkish lira is the world’s worst performing currency so far this year after weakening by more than 15 per cent. The decline makes it difficult for local steel makers to effectively compete.

Source : The National

voda 16 december 2016 15:06

0

China ontmoedigt leningen voor uitbreiding staal en kolencapaciteit

Banken krijgen nieuwe richtlijnen opgelegd.

(ABM FN-Dow Jones) De toezichthouder op het Chinese bankwezen heeft nieuwe richtlijnen opgesteld om banken te ontmoedigen leningen te verstrekken bedoeld voor de uitbreiding van capaciteit door bedrijven die staal en kolen produceren. Dit bleek vrijdag uit documenten van toezichthouder China Banking Regulatory Commission.

China Banking Regulatory Commission wil verder dat zogeheten 'zombiebedrijven' niet van kapitaal worden voorzien. Deze bedrijven drijven hoofdzakelijk op basis van lokale steun, terwijl ze eigenlijk niet meer levensvatbaar zijn.

Daarnaast is het beleid sterk gericht op consolidatie in de staal- en kolensector.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

Copyright ABM Financial News. All rights reserved

(END) Dow Jones Newswires

voda 16 december 2016 15:32

0

Tata Steel IJmuiden orders new continuous slab caster from Primetals Technologies

TATA Steel IJmuiden BV, a Dutch steel producer, has awarded Primetals Technologies an order to supply a new continuous slab caster.

Source : Strategic Research Institute

Bijlage:

voda 16 december 2016 15:37

0

TMK GIPI 18 meters long X52 (Sour Service) pipes to Daleel Petroleum

Oman’s leading pipe manufacturer, TMK Gulf International Pipe Industry LLC, part of global pipe manufacturer TMK, successfully completed the delivery of API 5L X52 (sour service) line pipes for Daleel Petroleum LLC for 5 weeks ahead of schedule.

Source : Strategic Research Institute

Bijlage:

voda 16 december 2016 15:39

0

Olympic Steel announces management succession planning

Olympic Steel Inc, a leading US metals service center, announced Raymond Walker, President and Chief Operating Officer — Flat Rolled will retire in 2017, following 30 years of service with the Company.

Source : Strategic Research Institute

Bijlage:

voda 16 december 2016 15:40

0

Liberty House aims to boost UK steel output – Mr Sanjeev Gupta

REUTERS quoted Mr Sanjeev Gupat chairman of Liberty House as saying that Liberty House, the commodities and industrials group which has been buying up assets in the British steel sector, plans to ramp up its UK steel output to 5 million tonnes in five years. Mr Gupta's model for producing steel profitably and sustainably in Britain is to use local supplies of scrap and renewable energy to make the alloy, instead of importing expensive steelmaking raw materials such as iron ore and coking coal.

He has also moved downstream by buying up engineering firms that will consume the steel his plants produce, and turn it into higher value added, more lucrative end-products.

TATA's specialty steel plant in Rotherham is currently operating at 20-25 percent capacity, Mr Gupta said that producing about 250,000 tonnes annually. The plant can produce up to 1.3 million tonnes. He said that "Rotherham capacity should reach over one million next year and Newport to two million over the next three and a half years. The balance will have to come from new capacity.”

The company is weighing up options to build new furnaces in Scotland and the Midlands to cover the balance of their five million tonne target.

Privately owned Liberty made a formal approach for the asset last month and its chairman, Mr Sanjeev Gupta said due diligence on the 100 million pound deal (USD 127 million) should be concluded by end-February.

Source : Reuters

voda 16 december 2016 15:41

0

Hesteel to invest USD 120 million in Smederevo plant in 2017

tanjug.rs reported that China's Hesteel Group will invest USD 120 million in the Smederevo steel mill in 2017, Mr Yu Yong the group's President after meeting with Serbian Minister of Economy Goran Knezevic said that the funds will be invested directly in reconstruction and acquisition of equipment and technology to improve operation even further.

Mr Yong, who took a tour of the steel mill and spoke to the management and employees, conveyed to Knezevic Hesteel's satisfaction with the plant's work to date, as well as the plan for next year, the Ministry of Economy said in a statement.

Hesteel acquired the mill in July this year.

Mr Knezevic said that the investment has revived an entire region of Serbia, giving it an impetus to become an even better business and contributing to Serbia's excellent macroeconomic results.

Source : tanjug.rs

Bijlage:

voda 16 december 2016 15:42

0

Mr Gerasimenko of Red October Volgograd Steel arrested in Cyprus

OCCRP.org reported that Mr Dmitry Gerasimenko billionaire owner of a Russian steel company Red October Volgograd Steel has been detained in Cyprus on charges of being involved in an alleged USD 65 million fraud

Mr Gerasimenko is accused of funneling a USD 65 million loan from VTB Bank meant for his steel company at the time, Red October Volgograd Steel Works, through the accounts of several other businesses between 2007 and 2009.

Gerasimenko was initially arrested after fleeing to Cyprus in November on embezzlement charges, but was quickly released on bail. On Nov 29, a Moscow court decided in absentia to change the charge against Gerasimenko to fraud; he was added to Interpol’s wanted list shortly after.

Mr Gerasimenko was re-arrested this week on the updated charge.

Red October Volgograd Steel Works went bankrupt in 2012, several years after the alleged embezzlement. The proceeds from an auction of its assets were used to start a new company with the exact same name.

Mr Gerasimenko is also the owner of Russian basketball team BC Krasny Oktyabr and Italian team Pallacanestro Cantu.

Source : OCCRP.org

Bijlage:

voda 16 december 2016 15:44

0

BSRM & Kunming Steel plan USD 1 billion investment in MEZ in Bangladesh

Dhaka Tribune reported that Bangladesh Steel Re-Rolling Mills and Chinese company Kunming Iron and Steel Holding Company Limited plan to jointly invest $1 billion to Mirsarai Economic Zone in Chittagong in next five years.

BSRM Group Chairman Ali Hussain Akber, KISC Director Wu Yun Kun and BEZA Executive Chairman Paban Chowdhury were present during the meeting.

According to the press release, both the companies have already started feasibility study in line with their plan which was undertaken for producing around 1.8m tonnes of steel from the proposed steel mill to be established in the MEZ.

Source : Dhaka Tribune

Bijlage:

voda 16 december 2016 15:45

0

45 steel furnaces in Rajasthan shut for a week over hike in electricity charges

The Tribune reported that around 45 industries affiliated to Rajasthan Steel Chamber have began a week-long closure of furnaces against the sharp increase in cross-subsidy charges from 13 paise to Rs 1.39 and imposition of a new levy of 80 paise per unit under additional charge by Rajasthan Electricity Regulatory Commission.

The RSC had approached state Energy Minister, Energy Secretary, RERC and Discom authorities to reverse the orders, but nothing happened, said Sitaram Agarwal, president, RSC.

In the steel manufacturing sector, power accounts for 60% of the input cost and a small hike in tariff disturbs operational dynamics. In order to avoid the power from Discoms, which is priced at Rs 7.30 per unit,— steel manufacturers go for open access, which costs around Rs 3 per unit, he said.

Source : The Tribune

Vertraagd	3 jun 2024 17:35
Koers	24,350
Verschil	+0,190 (+0,79%)
Hoog	24,610
Laag	24,200
Volume	3.362.128
Volume gemiddeld	2.623.475
Volume gisteren	6.882.105

12:16	Video: AEX richting 1.000 punten en S...
22 mei	Mondiale staalproductie daalt opnieuw
02 mei	Beursblik: resultaten ArcelorMittal b...	1
02 mei	AEX gaat hogere opening tegemoet, ter...	4
02 mei	Meer omzet en hoger resultaat bij Arc...
01 mei	Lagere winst ArcelorMittal verwacht
23 apr	Mondiale staalproductie daalt toch weer
16 apr	Deutsche Bank haalt ArcelorMittal van...	1
12 apr	Video: cyclische aandelen bieden kansen
09 apr	World Steel Organisation ziet vraag n...

Arcelor Mittal « Terug naar discussie overzicht

Nieuws en info hier plaatsen (deel 4)

Meedoen aan de discussie?

Direct naar Forum

Detail

ArcelorMittal nieuws