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35.173 Posts, Pagina: « 1 2 3 4 5 6 ... 694 695 696 697 698 699 700 701 702 703 704 ... 1755 1756 1757 1758 1759 » | Laatste
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Iran to privatized two heavyweight firms

Securities and Exchange News Agency reported that Iranian Privatization Organization plans to privatize the shares of two iron ore and coal companies on Nov. 27. The sale includes a 67.92% stake in Iran Central Iron Ore Company with a total value of USD 999.8 million and a 99.85% share in Kerman Coal Mines Company valued at USD 601.4 million.

The IPO will undertake the offer on behalf of Iran Steel Pension Fund, which holds controlling stakes in the two companies. Potential buyers must pay 20% of the value in cash and the rest in six-month installments over four years.

Iranian pension funds are in a poor financial state due to years of mismanagement and economic crisis, which has prompted them to sell off assets to keep their heads above water.

Source : Financial Tribune
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SSAB launches new press hardening steel for automotive safety components – Docol PHS 2000
Published on Thu, 09 Nov 2017

Through a join collaboration with a prominent automotive component manufacture, SSAB has developed Docol PHS 2000, a new press hardening steel that offers higher tensile strength than any other product in its wide portfolio of press hardening automotive steels.

Source : Strategic Research Institute
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Tata Steel’s Ympress Laser steel grade available in Germany

For the first time in Germany, Tata Steel is offering its high-strength low-alloy Ympress Laser® steel grade via distributors MCB Group and ESB European Steel Business Group. Developed for efficient laser cutting, the steel grade is available in North Rhine-Westphalia, Lower Saxony and southern Germany. Tata Steel has worked with MCB and ESB to develop local delivery concepts to suit the needs of companies in Germany with laser cutting facilities to simplify their supply.

Source : Strategic Research Institute
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Ovako introduces new Hybrid Steel family at Euromat 2017

Ovako introduced its new Hybrid Steel family at Euromat 2017. It has the properties of tool steel, maraging steel, and stainless steel combined with the production economy of engineering steel, the company states. The properties of Hybrid Steel are made possible by a combination of secondary hardening and precipitation hardening mechanisms. The new steel can also reduce the number of manufacturing steps required to produce a finished component.

Source : Strategic Research Institute
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Two workers injured at AK Steel plant

BUTLER Eagle reported that two AK Steel employees were injured Monday morning in an accident in the plant’s North Processing department at Butler Works. The injuries occurred about 9:20 a.m. when an electrical panel malfunction, according to AK Steel spokesman Lisa Jester. One of the workers suffered a “small area of superficial burns,” she said in an e-mail statement

Both injured employees were taken to Butler Memorial Hospital for evaluation. A third employee, Jester said, was evaluated by on-site medical staff and later returned to work,

The company did not identify the employee and released no other information.

Source : BUTLER Eagle
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Naxal violence can cast shadow over Essar Steel bid

Business Standard reported that naxal violence in Chhattisgarh could have a severe impact on the acquisition of debt laden Essar Steel Ltd’s Hazira plant located in Gujarat. Essar Steel, promoted by Ruias, was among the initial companies that had been put up for sale under the insolvency proceedings. Apart from the Hazira plant, Essar Steel operates a number of downstream facilities that include beneficiation plant in Chhattisgarh.

The 8 million tonnes per annum plant is located in Bailadila of Dantewada district, which is infamous across the globe for deadly Naxal violence. In 2005, Essar Steel built a 267-km slurry pipeline, reportedly world’s second largest, to carry iron ore slurry from Dantewada to the company’s Visakhapatnam pellet plant.

The 8 million tonnes per annum iron ore pellet plant in Visakhapatnam feeds the pellet requirements at the Hazira plant.

The operation of a slurry pipeline has been a major challenge for the company as it passes through the Naxal stronghold pockets that rebels claim to be their “liberated zone”. According to Chhattisgarh police’s record, Naxalites had damaged the pipeline over 20 times between 2005 and 2010 that disrupted operational for about 250 days.'

Since then it has never been available for continuous usage, which has led to frequent disruptions in steel production at the Essar Steel Hazira plant. A senior executive of the company was booked in connection with the alleged payout to extremists in 2011 and the legal battle is on in the court of law.

Mr Bhawarlal Bothra, former Bastar Chamber of Commerce and Industry President said that “It is not easy to operate the pipeline as either the Naxalites will damage it or the mischievous villagers in their pretext to extort money from the company.” He added that patrolling the vast pipeline is also a big challenge as handful security personnel would be vulnerable to the Maoists in the densely forested area.

When contacted, Essar Steel spokesperson said the company had been facing the challenge in the area.

Among those eyeing to buy Essar Steel, Tata Steel has a firsthand experience of dealing with the Naxal challenge. The company had to drop its Bastar steel plan. Following Naxal terror, the state government failed to acquire land for Tata Steel that had proposed to set up a 5.5 mtpa integrated steel plant in Bastar.

Source : Business Standard
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US initiates AD against imports of forged steel fittings

US Secretary of Commerce Wilbur Ross announced the initiation of new antidumping duty investigations to determine whether imports of forged steel fittings from China, Italy, and Taiwan are being dumped in the United States, and a countervailing duty investigation to determine whether producers of forged steel fittings in China are receiving alleged unfair subsidies.

Source : Strategic Research Institute
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Kobe steel scandal - No steel from Kobe Steel used in local infrastructure works

Straits Times quoted Singapore Senior Minister of State for National Development Koh Poh Koon saying that no structural steel from Japan's scandal-hit Kobe Steel had been imported for use in Singapore, according to checks made by the Building and Construction Authority with major steel stockists and fabricators.

Source : Straits Times
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Brazil steelmaker Gerdau holds 2017 investment target

Reuters reported that Brazilian steelmaker Gerdau SA still aims to invest around BRL 1.3 billion (USD 400 million) this year, Chief Executive Mr André Gerdau Johannpeter said on Wednesday, suggesting a surge in fourth-quarter capital spending.

He told “We still have investments to make at the end of the year,” he told journalists on a conference call. Gerdau invested just 602 million reais in the first nine months of 2017.”

Source : Reuters
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Alabama representatives urge Trump action on steel imports

VAL.com reported that four of Alabama's representatives in Congress are urging the Trump Administration to take action on steel imports. Reps. Robert Aderholt, Mo Brooks, Bradley Byrne and Terri Sewell have signed their names to a letter, along with 68 other members of Congress, asking Trump to release a report dealing with the impact of steel imports on national security. The letter was signed by members of both parties who are among the Congressional Steel Caucus.

The letter, dated Oct. 26, deals with an expected report on whether steel imports threaten national security, pursuant to Section 232 of the Trade Expansion Act of 1962. U.S. steel producers have been lobbying for action by Trump, whether through protection acts or increasing infrastructure spending, to undo some of the lasting effects of the recession and globalization on the steel industry.

The letter urges the Trump Administration to release the report and take action. Steel imports were up 21 percent over last year through the first six months of 2017, they say, and the world market is glutted with 700 million metric tons of global steel.

In the letter, the representatives say more than 3 million tons of steel was brought into the US just in September. It urges action to stop "this unfair trade so that American steelworkers can continue to make American steel that supports our military, critical infrastructure, and the livelihoods of innumerable American families."

Source : AL.com
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Chinese overcapacity still a concern for Latin America steelmakers - Alacero

Bnamericas quoted Mr Jefferson de Paula, president of regional steel association Alacero said at the opening of the 58th Latin American steel congress in Cancún, Mexico as saying that Chinese surplus capacity remains a key threat to Latin America's steelmakers, despite a pickup in demand in the region. Apparent steel consumption in the region will rise 3.7% in 2017, compared to last year.

However, imports are expected to supply 23.8 million tonne or 35% of consumption, including 8.50 million tonne from China, up 11%. Imports were 19.8 million tonne in 2016, or 32% of consumption, including 7.60 million tonne from China, Alacero reported previously.

Apparent finished steel consumption in Latin America was 61.9 million tonne in 2016, down 8% on the previous year.

Mr de Paula said in a release that despite higher steel prices and a positive and less volatile outlook for 2018, Chinese surplus capacity remains a concern, standing at about 460 million tonne, nearly seven times Latin America's total steel consumption.

He added that the Chinese government has set a target of removing 150 million tonne of surplus steel capacity.

Mr Guillermo Vogel, president of Mexican steel chamber Canacero and of Alacero's Mexican committee said that "The steel market has seen a modest recovery, but serious structural imbalances persist due to the significant government subsidies received by mainly Asian companies.”

Steelmakers are investing USD 5 billion in Mexico, the region's second biggest steel producer after Brazil.

Source : BNamericas
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Hoeveel staal zal gebruikt zijn?

China builds more than 800,000 bridges in Wuhan - Mr Zhou
Published on Thu, 09 Nov 2017

Associated Press of Pakistan cited Mr Zhou Wei, chief engineer from the Ministry of Transport as saying that China has built 805,300 highway bridges and 10,000 kilometers of high-speed rail bridges. Mr Zhou made the remarks at an international bridge expo held in Wuhan, central China’s Hubei Province.

Mr Zhou said seven of the longest cable-stayed bridges, six of the longest suspension bridges, six of the longest arch bridges, and five of the longest beam bridges are in China. China’s bridge construction has already become a name card for its “go global” strategy.

Mr Yan Hexiang, director of the technology and law division of the National Railway Administration, said that the country’s construction of Railway bridges also achieved major progress in recent years.

However, China has built 22,000 kilometers of high-speed rail, and bridges accounted for more than half of this mileage.

Source : Associated Press of Pakistan
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ArcelorMittal overtreft verwachtingen

Marktomstandigheden goed volgens staalbedrijf.

(ABM FN-Dow Jones) ArcelorMittal heeft in het derde kwartaal van 2017 meer winst gerealiseerd dan was voorzien. Dit bleek vrijdag uit de resultaten van een van de grootste staalbedrijven ter wereld.

Het EBITDA resultaat, de belangrijkste winstgraadmeter voor de staalreus, kwam uit op 1.924 miljoen dollar. In hetzelfde kwartaal van 2016 werd een EBITDA behaald van 1.897 miljoen dollar en in het tweede kwartaal van dit jaar was dit 2.112 miljoen dollar.

Een door het bedrijf zelf opgestelde analistenconsensus ging uit van een EBITDA van 1.869 miljoen dollar voor het afgelopen kwartaal.

De nettowinst steeg van 680 naar 1.205 miljoen dollar.

"Gunstige marktomstandigheden hebben weer een solide kwartaal ondersteund", zei CEO Lakshmi Mittal in een toelichting. De topman zei dat de omstandigheden blijven verbeteren en een positief beeld schetsen voor 2018. Mittal onthield zich echter van een concrete outlook voor het vierde kwartaal en wees wederom op de overcapaciteit die op de staalmarkten wereldwijd drukt en de hoge importniveaus.

Het staalbedrijf behaalde een omzet van 17.639 miljoen dollar, wat flink meer was dan de 14.523 miljoen dollar een jaar eerder. Er werd 21,7 miljoen ton staal afgeleverd, wat 1,0 procent meer was dan in het tweede kwartaal en krap 7 procent meer dan een jaar terug.

Vanwege de verbeterende marktomstandigheden verwacht ArcelorMittal nu dit jaar 2,0 miljard dollar te investeren in het werkkapitaal, waar dat eerder 1,5 miljard dollar was.

Het aandeel ArcelorMittal sloot donderdag 3,4 procent lager op 24,32 euro.

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
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Beursblik: outlook en resultaten ArcelorMittal solide

Wel hoger werkkapitaal verwacht dit jaar.

(ABM FN-Dow Jones) De resultaten van ArcelorMittal in het derde kwartaal waren solide, net als de outlook, maar het staalbedrijf voorziet wel een hoger werkkapitaal dit jaar. Dit concludeerde analist Stijn Demeester van ING.

De EBITDA kwam afgelopen kwartaal uit op 1.924 miljoen dollar en was daarmee 3 procent beter dan de door het bedrijf opgestelde consensus van 1.869 miljoen dollar, terwijl Demeester uitging van 1.898 miljoen dollar.

De outlook van ArcelorMittal was volgens ING gunstig. De staalfabrikant sprak van een gunstige markt en zei dat de spreads gezond bleven.

Een minpuntje was dat de onderneming dit jaar een verhoging van het werkkapitaal met een half miljard dollar voorziet.

Demeester wees ook op de nettoschuld die op kwartaalbasis was gestegen van 11,9 miljard tot 12,0 miljard dollar. ING rekende juist op een afname. De stijging was vooral het gevolg van wisselkoerseffecten, aldus de analist.

Het advies van ING blijft Kopen met een koersdoel van 28,00 euro.

Op een rood Damrak noteerde het aandeel ArcelorMittal vrijdag 3,0 procent hoger op 25,04 euro.

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
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SAIL and ArcelorMittal asked to expedite auto steel JV – Report

Economic Times reported that the government said it has asked state-owned SAIL and the world's largest steelmaker ArcelorMittal to expedite setting up of their proposed joint venture for a INR 5,000 crore auto grade steel plant. Steel Joint Secretary Mr Sunil Barthwal while speaking to reporters on the sidelines of India Steel Summit 2017 organised by Assocham said "I think they (both the parties) have set certain timelines. They are moving on those timelines. We have asked them to expedite it (the proposed joint venture).”

When asked about the proposed joint venture, Mr Barthwal said, "Both the parties are negotiating the final agreement. So, as soon as that is finalised they should come with it".

He said “There were some technical issues with regard to the JV which the government is trying to sort out.”

Steel Authority of India (SAIL) and ArcelorMittal in May 2015 entered into a memorandum of understanding (Moll) to explore the possibility of setting up an autograde steel manufacturing facility under a joint venture in India. The much-awaited joint venture will also focus on producing specialised grade steel products for defence, space and automobiles. The proposed JV will construct a cold rolling mill and other downstream finishing facilities in India

A task force team comprising representatives from both SAIL and ArcelorMittal has been working on detailed due diligence and preliminary feasibility study and all other issues for setting up the joint venture company.

Source : Economic Times
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ArcelorMittal to continue discussions regarding the proposed acquisition of llva

Economic Times reported that ArcelorMittal has said it a consortium led by it will continue discussions with the European Commission regarding the proposed acquisition of Italian steel major, llva, in a bid to secure approval for the deal in a timely manner. The company confirmed that the European Commission has initiated a Phase II review of AM Investco Italy Srl's proposed acquisition of llva S.p.A.

ArcelorMittal said it will continue to work closely with the European Commission to explain the dynamics of the steel industry, the rationale of the proposed acquisition and the benefits it will bring to industry, customers, the environment and the local economy. It said "We look forward to ongoing dialogue with the Commission to secure approval for this transaction in a timely manner.”

ArcelorMittal had notified AM Investco's proposed acquisition of llva S.p.A to the European Commission on 21 September 2017, and submitted commitments on 19 October 2017. AM Investco reached a binding agreement concerning the lease and obligation to purchase llva S.p.A and its subsidiaries with the Italian Government in June 2017.

Source : Economic Times
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Brazil delays antidumping probe decision for Russian, Chinese HR steel to January

Platts reported that Brazil's Ministry of Development, Industry and Foreign Trade Thursday postponed until January a decision on the application or non-application of antidumping duties on imports of Chinese and Russian hot-rolled coil steel. According to the ministry, it would apply the antidumping duties based on an investigation carried out by its technical unit, which found there was dumping and damage to the local industry. But steel end-users have asked the government not to apply the duties in an effort avoid an inflationary impact on products' final prices.

At a meeting Wednesday, "it was agreed that these industries should receive more time to demonstrate what they claim: that the suspension of [antidumping] duties serves the national interest, avoiding impacts on inflation," said a source close the matter. "A decision is expected January 20."

The petition for this investigation was filed by Brazilian steel producers ArcelorMittal, CSN and Gerdau. The investigation started in April 2016.

Source : Platts
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JSW Steel crude steel output in October marginally up YoY

JSW Steel Ltd has reported a marginal rise in its crude steel production at 1.343 million tonnes for October 2017. The company had produced 1.335 million tonnes of crude steel for the same month a year ago.

Source : Strategic Research Institute
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We need to raise steel demand to match capacity boost - Indian government

Press Trust of India reported that the Indian government has emphasized the need to rev up the demand for steel in the country in line with rising production capacities. Mr Sunil Barthwal, Joint Secretary in steel ministry, said at the India Steel Summit 2017 organized by industry body Assocham that “If you look at the domestic demand it is falling slightly short. So the issue is that the domestic demand has to be raised. The focus the government is to increase the demand for steel in the country as there was enough capacity. "Now if you look at production capacities and ...figures in the country, you will find that we are growing at a very good pace...we have grown by 6.7 per cent in the calendar year up to September in the last nine months.”

Asserting that India has become a net exporter of steel now, Mr Barthwal said that Indian steel products are being exported across the world, including advanced countries. He said "It is not just that we are selling (steel products) to Africa. We are selling it to the most advanced countries where they are competing with the best of the products," he said.

The government had earlier said there was a need to create steel demand in line with the planned increase in capacities. The government had earlier said that creating demand for 300 million tonnes of steel, the output target India is looking at by 2031, will be a big challenge. India's per capita steel consumption at 61 kg is much lower than the global average of 208 kg.

Source : Press Trust of India
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Germany antitrust agency lets Interpipe set up JV with Vallourec Tubes

UNIAN reported that Germany's Federal Cartel Office has approved the creation of a joint venture by Ukrainian businessman Victor Pinchuk's integrated pipe and wheel company Interpipe and Paris-headquartered Vallourec Tubes S.A.S. for the production of steel pipes

Interpipe said “We confirm the filing of an application at the German Federal Cartel Office under a cooperation project between the companies. We have just received a corresponding approval. Our possible cooperation will be quite limited in terms of both finance and volume.”

As reported, the company will provide additional information after the completion of the registration procedures. Read also Ukrainian interest. Pinchuk’s transformation, Dodon’s signs, and Le Pen’s scandalous statements As UNIAN reported earlier, Interpipe on October 20 announced its plans to establish a joint venture with a French pipe producer, Vallourec Tubes S.A.S.

Interpipe is an international vertically integrated pipe and wheel group of companies. The company has five industrial assets: Interpipe Nyzhniodniprovsky Tube Rolling Plant (NTRP), Interpipe Novomoskovsk Pipe Production Plant (NMPP), Interpipe Niko Tube, Dnipro-based Interpipe Vtormet, and Interpipe Steel electric steel-melting complex.

Source : UNIAN
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