Eurobench.com

voda 27 april 2018 15:56

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21 scrapped VLCCs during Q1 period bodes well for the tanker market - Euronav

Euronav NV yesterday reported its non-audited financial results for the three months ended 31 March 2018. Mr Paddy Rodgers, CEO of Euronav said: “Oil demand has been consistently upgraded over the past six months which along with increased levels of recycling (21 VLCC YTD) are encouraging developments for all tanker operators. However, the rebalancing of the tanker market requires further affirmative action in reducing primarily older tonnage, restraint from contracting and a supportive oil price structure. Freight rates will remain under pressure until this process of rebalancing is much further advanced. Euronav retains both now and going forward substantial balance sheet capacity and fixed income visibility to navigate through such periods and remains confident on the medium-term trends for the crude tanker market.”

For the Q1 of 2018 the Company had a net loss of USD -39.1 million (first quarter 2017: net profit of USD 34.3 million) or USD -0.25 per share (first quarter 2017: USD 0.22 per share). Proportionate EBITDA (a non-IFRS measure) for the same period was USD 30.7 million (first quarter 2017: USD 106.1 million).

Source : Strategic Research Institute

voda 27 april 2018 17:12

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Beursblik: lichte winststijging ArcelorMittal voorzien
Consensus door bedrijf gepubliceerd.

(ABM FN-Dow Jones) ArcelorMittal heeft waarschijnlijk in het eerste kwartaal van 2018 iets meer winst behaald dan dezelfde verslagperiode een jaar eerder. Dit bleek vrijdag uit de door het staalbedrijf gepubliceerde consensus waaraan 19 analisten bijdroegen.

De analisten rekenen gemiddeld op een vier procent hoger bedrijfsresultaat (EBITDA) van 2.322 miljoen dollar. In het eerste kwartaal van 2017 kwam de EBITDA uit op 2.231 miljoen dollar.

Het staalbedrijf maakt de resultaten bekend op 11 mei voorbeurs.

Vrijdag noteerde het aandeel ArcelorMittal 0,5 procent lager op 27,65 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

voda 30 april 2018 16:11

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Staalfusie voorgelegd aan personeel Tata

Gepubliceerd op 30 apr 2018 om 14:48 | Views: 288

IJMUIDEN (AFN) - De voorgenomen fusie tussen de Europese activiteiten van staalreus Tata Steel en het Duitse ThyssenKrupp is ter goedkeuring voorgelegd aan het personeel van Tata in IJmuiden. De personeelsvertegenwoordigers, die vorige week verdere tekst en uitleg kregen, zeggen andermaal kritisch te kijken naar het voorstel. Ze verwachten wel nog ,,aanzienlijke tijd" nodig te hebben.

Alvorens advies uit te brengen moet Tata nog een groot aantal vragen beantwoorden, onder meer over de onderzoeks- en ontwikkelingsactiviteiten van Tata en de toekomst van de divisie verpakkingsstaal. Ook wil het personeelsorgaan meer weten over de investeringsbereidheid in de komende jaren.

De centrale ondernemingsraad is altijd kritisch geweest over de op handen zijnde fusie tussen de bedrijven, onder meer vanwege de banenreductie die met de samensmelting gepaard gaat. Tata kondigde eerder aan dat 4000 banen zullen verdwijnen, gelijk verdeeld over Tata en ThyssenKrupp. Ook is er een voornemen om activiteiten af te sloten of op termijn te sluiten. Dit geldt niet voor de Nederlandse activiteiten van Tata.

voda 30 april 2018 16:30

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Trump Trade War - US likely to extend steel and aluminum tariff exemptions - Report

Commerce Secretary Wilbur Ross said that the Trump administration plans to extend relief from steel and aluminum tariffs to some countries, but not all, when their temporary exemptions expire on Tuesday. Mr. Ross, in an interview in Washington late on Saturday, declined to identify which countries would be spared from the tariffs. He said the announcement will be made right before the May 1 deadline for the duties to kick in. The secretary indicated on Friday that countries have been asked to accept import quotas in return for tariff-free access of the metals into the United States.

CNBC, citing sources who have been in discussions with the Trump administration, reported that “The extensions may vary in length for each country, based on the progress made in talks on this and other trade issues. For instance, Canada and Mexico would be granted an extension because they have made progress on steel and aluminum issues in NAFTA talks, which resume late next week. It's unclear where talks with Brazil, Australia and Argentina stand. South Korea's exemption from tariffs is permanent because it agreed to quotas as part of a new trade deal. Administration officials have asked other countries what level of quotas they would agree to.

One person briefed by the administration told CNBC that "Quotas are an active part of the discussion with every country on the exemption list."

The May 1 deadline on the tariff exemptions was set in a presidential memorandum. An extension would be granted in that same way. The final decision on granting an extension will be up to President Donald Trump.

The USTR declined to comment. The White House, the Commerce Department and the National Security Council did not respond to requests for comment before publication.

Source : CNBC

voda 30 april 2018 16:32

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Liberty House is top bidder for Bhushan Power - Report

Business Line reported that UK-based Liberty House has pipped Tata Steel to emerge the highest bidder for Bhushan Power. Banking sources said . “In the meeting of CoC held on Friday, the bid of Liberty House was opened. The consolidated bid amount offered by the firm for the stressed assets of Bhushan Power was over INR 260 billion. Tata Steel had earlier offered INR 170 billion to the lenders as upfront amount and INR 72 billon for operations of Bhushan Power. JSW Steel made an offer of INR 110 billion to the lenders and INR 20 billion for the operations of the beleaguered power firm. The CoC will meet again next week and take a call on the rebidding.”

The Committee of Creditors on Friday considered the Liberty House bid after a direction from the National Company Law Tribunal (NCLT), even though the offer came in after the deadline expired. Liberty House, owned by Indian-born steel tycoon Sanjeev Gupta, had submitted a resolution plan for Bhushan Power on February 20, whereas the last day for submission of bids was February 8. When the Resolution Professional declined to open the bid, Liberty House approached NCLT.

Last week, the NCLT Bench, headed by Justice MM Kumar, had ruled that bids could be rejected only on substantive grounds and not over a delay in the submission of a bid. The tribunal also extended the deadline for finalising the resolution plan by two months to June 23.

It is learnt that Tata Steel will soon move the National Company Law Appellate Tribunal (NCLAT) against the NCLT ruling to consider the Liberty House bid.

Bhushan Power has an outstanding loan amount of INR 47,301 crore. It owes another INR 706.88 crore to operational creditors and INR 2.73 crore to workmen. All creditors will have to take a substantial haircut once the final winning bid is selected.

Source : Business Line

voda 30 april 2018 16:35

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Essar Steel bids case hearing at NCLAT on 17 May

PTI reported that the National Company Law Appellate Tribunal (NCLAT) on Friday agreed to hear on 17 May cross petitions filed by disqualified Essar Steel Ltd bidders Numetal Ltd and ArcelorMittal India Ltd. NCLAT issued notices to a committee of Essar Steel creditors, the resolution professional running the auction of the company and the two bidders on the cross petitions.

Numetal, backed by Russia’s VTB Capital, has challenged a company court order allowing rival ArcelorMittal to clear bank dues of associate companies so that it can become eligible to acquire Essar Steel. ArcelorMittal on the other hand has challenged its disqualification from bidding.

Mukul Rohtagi, appearing for Numetal, argued that the Ahmedabad bench of the National Company Law Tribunal, which had disqualified ArcelorMittal from bidding to acquire Essar Steel on grounds that it was a promoter company of firms that had defaulted on payment of bank loans, had erred in permitting ArcelorMittal to cure the ineligibility by making payment of the overdue amounts of Uttam Galva Steels Ltd and KSS Petron Pvt Ltd within 30 days. He sought the quashing of the NCLT order that directed the resolution professional and the committee of creditors of Essar Steel to reconsider the resolution plan submitted by ArcelorMittal India.

ArcelorMittal in its petition challenged its disqualification on the grounds that it had exited Uttam Galva before submitting a bid for Essar Steel on 12 February.

On 19 April, NCLT dismissed the first round of bidding for Essar Steel on the ground that committee of creditors and the resolution professional did not follow the procedure prescribed under the insolvency code. However, it ruled that ArcelorMittal and Numetal must clear debts in defaulting companies where they hold stakes before bidding for Essar Steel again.

Numetal was disqualified on the ground that Rewant Ruia, son of Essar Steel promoter Ravi Ruia, is a beneficiary of a trust that backed Aurora Enterprises which in turn held about 25% stake in Numetal. VTB is the largest shareholder with about 40% stake.

Source : Mint

voda 30 april 2018 16:35

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Numetal too has to clear dues of connected parties for bidding for Essar Steel - Report

Economic Times, citing legal experts involved in the matter, reported that Numetal too will have to regularise the accounts of defaulting companies connected to the members of the consortium, as does ArcelorMittal, to be eligible to bid for bankrupt Essar Steel. As per report “Based on legal advice, lenders have asked both Numetal and ArcelorMittal to make a case for their eligibility to bid for Essar Steel on May 2 as well as give a plan to clear the arrears of the connected parties.’

VTB Bank-led Numetal has a member of Essar Steel’s promoter family as a partner and that raises questions about its eligibility tobid for the steelmaker — the Insolvency and Bankruptcy Code prevents promoters of stressed companies to bid for other such assets unless they cleared the arrears.

While the consortium has decided to drop Rewant Ruia as a member, that alone will not be enough to make it eligible, the experts said. This is because the lenders are considering the applications submitted by the two bidders in the first round, as ordered by the National Company Law Tribunal, and Numetal at the time had listed Rewant Ruia as a member of the consortium.

Source : Economic Times

voda 30 april 2018 16:36

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Steel plants should curb steel production - CISA

Xinhua reported that China Iron and Steel Association (CISA) has warned about the rapid growth of crude steel output over fears of renewed oversupply after crude steel output reached 212 million tonnes in the first quarter of the year, up 5.4% YoY. It warned that rapid growth of crude steel output had weighed upon the steel market and could bring oversupply if production continued at the pace registered in March.

CISA secretary general Liu Zhenjiang said “Many steel plants profited from price rises last year, and they want to make more money this year. But they ignored that China's economic growth has transitioned from a period of rapid pace to a stage of high quality development. With GDP growth target at around 6.5 percent, steel demand is not as huge as it used to be.”

Liu added "Steel plants should rein in output rises and speed up destocking.”

He said “Overcapacity has not be solved fundamentally.”

Average daily crude steel output hitting a historic high of 2.36 million tonnes in the first quarter, equates to an annualised 860 million tonnes, compared with 832 million tonnes of actual output last year.

Source : Xinhua

voda 30 april 2018 16:37

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Conares opens new 12” steel pipe mill in Jebel Ali Free Zone

UAE based steel maker Conares has inaugurated its 12’’ pipe mill in Jebel Ali Free Zone. The new state-of-12"art facility, installed with an investment of AED 100 million, now makes Conares a manufacturer of 1-million-tonne steel products annually.Bollywood megastar Shah Rukh Khan inaugurated the new plant in the presence of Mohammed Al Muallem, CEO & Managing Director, UAE Region - DP World and other senior officials.

Mr Bharat Bhatia, CEO of Conares, said “We are proud to launch the 12’’ pipe mill, which will increase our pipe manufacturing capacity by 250,000 metric tonnes. This mill increases our pipe product range, enabling us to meet the growing demand from the region’s infrastructure development sector. With this we have now achieved our milestone of 1 million tonnes capacity of steel production annually.”

He said “In terms of facility growth, we are aligning Conares with the region’s commitment to infrastructure developments keeping the vision of the UAE and Dubai Vision 2021. For Conares, the Vision 2021 is crucial to make it a manufacturing powerhouse. We foresee a good demand for our products for the ongoing projects in the UAE, especially the projects related to development to host the World Expo 2020 in Dubai. The new plant will produce pipes ranging from 4” to 12” sizes.”

He added “We plan to produce 20 per cent more than last year. Last year, we produced 525,000 metric tonnes and this year we intend to produce more than 635,000 metric tonnes. We crossed a turnover of above Dhs1 billion in 2017. Compared to this, we expect a revenue increase by 30 per cent in 2018.”

With its foothold securely placed in the steel industry, Conares is the one of the largest and the only private steel manufacturers in the region. Since its inception in 1988, Conares initially focused on steel trading. Having built extensive partnerships with renowned steel plants across the world, it brought the world-best competencies to the region, by setting up its own state of art manufacturing facility in UAE. The company earmarked AED 200 million towards expansions by the year 2020. Being a 100 per cent privately owned entity, the company assets exceed US$300 million of investments in the UAE.

Source : Strategic Research Institute

voda 30 april 2018 16:37

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Trump Trade War - CISA warns more retaliations

South China Morning Post reported that China Iron and Steel Association has warned of further possible retaliation against US tariffs, just days ahead of trade talks between representatives from Beijing and Washington. The China Iron and Steel Association, which represents more than 80 per cent of the country’s steel production, said it was still assessing the potential impact of US protectionist measures announced a month ago. It did not detail possible countermeasures but the association had previously suggested tariffs on American coal and electronics.

CISA secretary general Liu Zhenjiang was quoted as saying in a statement on Friday “We will actively respond to trade protectionism to defend the interests of the steel industry and will firmly support any necessary measure taken by the Chinese government.”

The association said the decision violated the rules of the World Trade Organisation, escalated bilateral trade tension and brought great uncertainties to China’s steel exports.

This article appeared in the South China Morning Post print edition as: U.s. ‘could face more backlash’ on tariffs

Source : South China Morning Post

voda 30 april 2018 16:44

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ArcelorMittal Dofasco Caster No 1 celebrates 30 years of turning molten steel into slabs
Steel News - Published on Mon, 30 Apr 2018

On December 13, 1987, a huge ladle poured the initial heat of molten steel into the reservoir at the top of Dofasco's first ever slab caster. And with it, the company was transformed. It only took minutes for the caster to turn molten steel into slabs, replacing the traditional steps of producing ingots, reheating them in the soaking pits and then rolling them into coils. The two-strand No. 1 Caster was the heart of an integrated system aimed to improve quality and produce more sophisticated grades of steel.

At the time, the CAD 750-million investment was the largest ever by Dofasco and also included the KOBM blowing process, Ladle Metallurgy, the Reheat Furnaces and a two-stand and re-coiler expansion of the Hot Mill. At the press conference announcing the investment, then President and CEO Paul Phoenix said, “This capital programme will enable Dofasco to continue with two of its major objectives – to be a leading supplier of flat rolled steel to the domestic market and to expand product capabilities to meet the more demanding end uses for steel in the future.”

The first slabs’ excellent internal and surface quality exceeded expectations. At the time, leaders attributed the smooth start-up to the hard work of hundreds of people testing, planning and training to prepare for the project during its three years of construction. This included plant-wide training programs, as well as specialized instruction for some employees on equipment at Dofasco and other plants around the world.

Bob Savage, now retired and former vice president of Manufacturing, was caster foreman at the time. He remembers the huge amount of coordination required between Engineering, Operations, Maintenance, Human Resources and Metallurgy, outside consultants, as well as the vast scope of the project, including training and learning new processes. He said “Don McFarlane was the superintendent. Trevor Wright was the assistant superintendent. Doug Watson was general foreman No 2 and Brian Mullen was general foreman No 1. Doug had the main operational responsibility and was really hands on and played a big role in design.”

Source : Strategic Research Institute

voda 30 april 2018 16:45

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Germany accounts for 30pct of Dutch steel exports

CBS reported that in 2017, the Netherlands exported 2.7 billion euros worth of steel to Germany, making Germany the single largest market for Dutch steel exports with a share of approximately 30%. Statistics Netherlands reports this in response to enquiries by the Dutch Ministry of Foreign Affairs.

After Germany, the next largest steel purchasing countries are Belgium (12%), France (9%), the United Kingdom (8%) and the United States (6%). In 2017, steel exports to the US amounted to 570 million euros.

Not all steel that is exported by the Netherlands is produced locally. A large share is initially imported and, possibly after some processing, leaves the country again. These so-called re-exports generate considerably less revenue for the Dutch economy than the export of Dutch-made products. Altogether, the Netherlands exported 9 billion euros worth of steel in 2017, the bulk of which was domestically produced with a minor share constituting re-exports. Domestically produced goods also include foreign goods which have undergone major processing in the Netherlands.

One-quarter to half of all exports to nearby destinations are re-exports. In the case of Germany, almost half are re-exports. By contrast, the vast majority of goods exported to the United States are Dutch-manufactured. The US is therefore the largest market for Dutch-produced steel (excluding re-exports) after Germany and Belgium.

Volume of exports has been stable for several years
In terms of volume, Dutch steel exports have been fairly stable since 2011. The volume stood at 11.0 billion kg of steel in 2017; roughly equal to 2011, but slightly higher than in 2016, when it amounted to 10.5 billion kg. The value development of Dutch steel exports has followed a similar pattern. Last year, the value did increase more rapidly than the volume due to rising prices.

Source : CBS

voda 30 april 2018 16:46

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United States Steel Corporation Reports First Quarter 2018 Results

United States Steel Corporation reported first quarter 2018 net earnings of USD 18 million, or USD 0.10 per diluted share. Adjusted net earnings were USD 57 million, or USD 0.32 per diluted share. This compares to a first quarter 2017 net loss of USD 180 million, or USD 1.03 per diluted share. Adjusted net loss for first quarter 2017 was USD 145 million, or USD 0.83 per diluted share.

Commenting on US Steel's results, Mr David B Burritt President and Chief Executive Officer said that "Our performance was significantly better than the first quarter of 2017, with improved results for all three of our reportable segments enabling four consecutive quarters of more predictable EBITDA. In spite of operational issues related to weather and ongoing challenges with assets not yet revitalized, the first quarter of 2018 was in line with our expectations. During the first quarter, we also continued to improve our risk profile and strengthen our balance sheet through the successful completion of a $650 million senior unsecured notes offering, and the subsequent repayment of $780 million of our senior secured notes, with the repayment of the final $281 million being completed on April 12."

The improving strength of our balance sheet and total liquidity supports the continued implementation of our asset revitalization program in our Flat-Rolled segment, as well as increasing investment in our European and Tubular businesses. Our net debt was approximately USD 1.5 billion as of March 31, 2018, a decrease of over USD 225 million from the same period last year. We maintain strong cash and liquidity.

Commenting on US Steel’s guidance for 2018, Mr Burritt said, "We are beginning the second year of our asset revitalization program, and we are already seeing benefits from the investments in our assets. It is prudent for us to anticipate the possibility of continued operational volatility for those assets yet to be revitalized. We remain focused on managing operating volatility to ensure we take care of our customers, and the restart of steelmaking at Granite City will increase our ability to do so. While there is uncertainty about how country exemption and product exclusion requests related to Section 232 will be resolved, we continue to invest in revitalizing our assets and developing innovative customer solutions. We are confident we will deliver our 2020 performance objectives."

Currently, we are experiencing operational challenges at our steelmaking facility at Great Lakes Works that we expect will have an unfavorable EBITDA impact of approximately USD 30 million on second quarter results. We currently believe that second quarter 2018 adjusted EBITDA will be approximately USD 400 million, and full-year 2018 adjusted EBITDA will be approximately USD 1.7 – USD 1.8 billion.

Source : Strategic Research Institute

voda 30 april 2018 16:47

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Ukraine seeks to participate in two projects in Egypt

Intefax quoted Ukraine's First Deputy Prime Minister, Minister for Economic Development and Trade Stepan Kubiv as saying that Ukraine seeks to take part in several projects in Egypt, in particular projects on modernization of a steel works and reconstruction of a coke-oven battery for a company.

Mr Kubiv wrote on his Facebook page that "Ukraine is ready to undertake several projects in Egypt. The first one is modernization of Helwan steel works worth some $200 million and reconstruction of a coke-oven battery for El Nasr for Coke & Chemicals worth some $80 million.”

Mr Kubiv also said that last year goods flow between Ukraine and Egypt reached almost $2 billion, and trade with services grew by 62% in 2017 compared with 2016.

Source : Interfax

voda 30 april 2018 16:50

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Japan's March steel exports to US down by 38%

Japan Today reported that Japan's steel exports to the United States dipped 38.2% in March from a year earlier due to a sharp slide in export of semi-finished products. Japan Iron and Steel Federation said that its overall steel exports dropped 2.5 percent. The decline comes as the United States imposed 25 percent import duties on steel last month. The US government provided a temporary exemption until May 1 for the European Union and six other nations, but not Japan.

The federation said that steel exports to the United States slipped 14.5% in the financial year ended March 31 from a year earlier to 1.78 million tonnes, their lowest in seven years.

Overall steel exports from the world's second-biggest steel producer fell 7.3% for the year.

Source : Japan Today

voda 30 april 2018 16:52

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Steel spurs productivity improvements in construction - Construction Coalitions, worldsteel

Mr Terrence Busuttil, Head, Construction Coalitions, worldsteel said that recently we launched a dedicated steel construction promotion program called constructsteel which has a very important purpose - to increase the use of steel across the world. A tangible part of this is our new website which will act as an information sharing platform between the steel industry, customers, and partners.

Q- Why do we need to promote steel use in construction?

A - Put simply the market share of structural steel frames in many countries is under pressure from competing materials. Take the UK market, for example, the chart below shows how the market share for structural steel frames has evolved since 1980.

This is wrong on so many counts from the recyclability of steel and its environmental benefits to the flexibility of design and ease of use. Steel is the material of choice for construction in the future and we need to re-educate a whole generation of new architects and specifiers about these benefits.

And the opportunity is immense as the population grows and new cities are planned.

Last week we had a successful conference in London. For those of you who could not attend we had speakers addressing the following major themes:

Improving construction industry productivity – Increasing use of Building Information Modelling (BIM) and digitisation is essential for increasing productivity in construction.

Increasing downstream collaboration – Collaboration between the steel industry, partners, and customers is key to successfully promoting the use of steel in construction.

Amplifying steel’s competitive advantage in construction – For example, fire is not a disadvantage to steel anymore – information and technical education are vital.

Improving coordination among steel construction bodies – constructsteel will act as a central focus coordinating the work of technical, academic and promotion bodies reducing duplication.

Source : Strategic Research Institute

Bijlage:

voda 30 april 2018 16:55

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Kobe Steel posts profit in three years despite data fraud scandal

Kobe Steel Ltd, Japan's third-biggest steelmaker posted its first annual profit in three years, even after admitting to falsifying quality data, a scandal that affected hundreds of customers and hit Japan's manufacturing prowess. As per report Kobe Steel reported profit of 63.19 billion yen (USD 578 million) for the year ended March 31, against a loss of 23.05 billion yen a year earlier. The result was above its own forecast of 45 billion yen and an estimate of 49.56 billion yen among seven analysts surveyed by Thomson Reuters.

Senior Managing Executive Officer Yoshihiko Katsukawa told a news conference that "Solid demand in steel, aluminum and copper, as well as construction machineries helped boost our sales.”

Sales rose more than 10 percent to 1.9 trillion yen, indicating the company has not lost significant numbers of customers since announcing the tampering in October last year.

Kobe Steel, which supplies steel and aluminum parts to manufacturers of cars, planes and trains around the world, admitted to supplying products with falsified specifications to more than 600 customers and said the data fraud had been going on for nearly five decades.

Source : Reuters

voda 30 april 2018 16:58

0

Trump Trade War - Turkey to open investigation into steel imports, EU exempted

Reuters reported that Turkey will open an investigation into whether iron and non-alloy steel imports harm local producers. Turkey government said that producers from the European Union, which Turkey aims to join, will be exempted from the investigation, the government said.

The statement was published in the Official Gazette, which Ankara uses to announce new policies.

Source : Reuters

voda 30 april 2018 16:59

0

Hyundai Steel Q1 net down by 48.2pct

Yonhap reported that Hyundai Steel Co., South Korea's second-biggest steelmaker by sales, said that its first-quarter net profit plunged 48.2 percent from a year earlier due to a base effect. The company net profit for the three months ending March 31 came to 177 billion won (USD164.7 million), compared with a net profit of 341.8 billion won a year earlier.

The company said a strong euro in the first quarter of 2017 boosted its net profit, but a weaker euro in the January-March period this year cut into its quarterly bottom line.

Operating profit fell 16.1% to 293.5 billion won in the first three months from 349.8 billion won a year earlier. Sales rose 4.6% to 4.78 trillion won from 4.57 trillion won.

Source : Yonhap

voda 30 april 2018 17:04

0

EVRAZ announce Q1 trading update

EVRAZ plc released its trading update for the first quarter of 2018.

Q1 2018 vs Q4 2017 HIGHLIGHTS:
1. In Q1 2018, EVRAZ’ consolidated crude steel output fell by 5.5% QoQ to 3.3 million tonnes, primarily as a result of lower pig iron production due to iron ore supply logistics limitation in the view of severe weather conditions in January and February (congelation of third party iron ore concentrate and pellets) as well as the technical condition of blast furnaces no. 1 and no. 3 at EVRAZ ZSMK, shutdown of the blast furnace no.6 at EVRAZ NTMK and the disposal of EVRAZ DMZ in March 2018.
2. Production of raw coking coal climbed by 6.7% QoQ to 6.0 million tonnes following the completion of scheduled longwall repositioning at the Alardinskaya and Uskovskaya mines.

3. Total steel product sales dropped by 5.7% QoQ due to lower crude steel production. Sales of semi-finished products fell by 16.6%, primarily due to reduced pig iron and crude steel production. This was partly offset by a 5.7% increase in the output of finished products (mainly construction products, driven by stronger demand for rebars and channels).

4. Coking coal product sales declined by 10.0% QoQ, mainly due to unusually high sales of raw coking coal in Q4 2017, which was driven by higher sales prices and the need to reduce coking coal inventories. Coking coal concentrate sales volumes grew by 9.8% QoQ due to higher sales prices for coal concentrate and increased export sales following the debottlenecking of logistics capacity.

5. Iron ore product sales decreased by 4.3% QoQ due to restocking of pellets, which has been made driven by expected higher marginal sales to domestic market and scheduled repairs in September.

6. Sales of vanadium products fell by 17.0% QoQ, mainly due to lower FeV and oxide sales, resulting from reduced oxide availability. The main reason for lower oxide availability was reduced slag conversion at third parties resulting from slag produced in 2017. Despite the fact of expected total lower slag production during 2018 comparing to 2017, the aim is to increase conversion of the slag produced in 2018 and accumulated from 2017 later in the year.

Source : Strategic Research Institute

Vertraagd	29 mei 2024 09:26
Koers	23,610
Verschil	-0,330 (-1,38%)
Hoog	23,730
Laag	23,600
Volume	186.935
Volume gemiddeld	2.522.510
Volume gisteren	1.614.856

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