Eurobench.com

voda 20 juni 2018 16:44

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GMS Market Commentary on Shipbreaking in India in Week 24 - TENTATIVELY DOES IT!

Despite being the top placed sub-continent market for yet another week, it was surprising to see Indian buyers play it somewhat tentative on the pricing of new and unsold Cash Buyer tonnage this week perhaps fearful of further market declines ahead.

Even though local steel plate prices have made some strong gains as the week ended (to the tune of about USD 10/Ton), the Indian Rupee has started weakening once again, trading in excess of INR 68 against the US Dollar.

Despite this, sales of specialist units continue at pace to local recyclers as the deluge of reefer scrapping continues for the year.

Laskarides have sold their second unit in as many weeks as the FRIO ATHENS (6,511 LDT) was committed privately to the same Buyer as their last sale, reportedly in the region of USD 420/LT LDT. Additionally, the Chinese owned YONG XIANG 7 (9,329 LDT) was sold for a very firm USD 370/LT LDT basis an ‘as is’ Zhoushan delivery.

Source : Strategic Research Institute

voda 20 juni 2018 16:44

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GMS Market Commentary on Shipbreaking in Pakistan in Week 24 - STRUGGLING!

The Pakistani market remains marooned as the lowest placed sub-continent market for yet another week, with most yards still stuffed with large LDT tankers and VLCCs and a majority, if not all of them, are still waiting to even obtain cutting permissions.

Coupled with the recent and disastrous currency depreciation that knocked off as much as 6% of its value against the U.S. Dollar and the imminent imposition of the July 1st sales tax that was decreed in the recent budget (another 5% negative impact on prices), it has not been a good period for Pakistani Buyers.

Hopefully demand and levels start to return after Eid holidays as steel prices do remain firm. However, the reality is that Gadani end users may remain on the sidelines for much of the summer, at least until some of this tanker tonnage starts to be absorbed domestically.

Source : Strategic Research Institute

voda 20 juni 2018 16:48

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Chia Yi Steel shipping metal powder for 3D printing

Taipei Times reported that machinery parts maker Chia Yi Steel Co has begun shipping its newly developed metal powder to tap into the 3D printing market. Mr Tsao Kuang-chao chairman said that Chia Yi Steel is the only Taiwanese supplier capable of producing high-purity metal powder used in 3D printing technologies. He added that the company has secured orders from more than six clients for the new product in the first half of this year. Mr Tsao said that “With a total investment of nearly NTD 200 million [USD 6.7 million], we have been working on the research and development of metal powder for more than three years.”

The company, which mainly supplies steel components for the hydraulic, automobile and agricultural industries, is able to manufacture up to 50 tonnes of metal powder per month.

It is expanding its presence in the emerging 3D printing industry as part of the 44-year-old company’s efforts to boost its profitability by diversifying its product portfolio.

Mr Tsao estimated that metal powder for 3D printing offers a high gross margin of about 60 percent.

To reach more potential clients, the Chiayi-based company has joined a 3D printing alliance pushed by the government-backed Industrial Technology Research Institute to encourage the development of medical equipment.

Chia Yi Steel gave an upbeat outlook for the second half, partly because it expects the foreign exchange rate to have a milder impact on its business this year.

In addition, customer demand worldwide has improved since last year, which has led to double-digit percentage annual revenue growth so far this year.

Chia Yi Steel swung into a profit in the first quarter of the year, aided by high demand and lower transportation costs.

The machinery components supplier posted a net profit of NTD 4.67 million for last quarter, or earnings per share of NTD 0.1, compared with a net loss of NTD 33.99 million in the same period last year.

First-quarter sales soared 43.7 percent to NTD 342.08 million from NTD 238.12 million on an annual basis, while gross margin increased to 15.84 percent from 8.18 percent on the back of continuous improvement in its production processes, the company said.

Cumulative sales in the first five months totaled NTD 594.64 million, up 32.82 percent year-on-year from NTD 447.7 million a year ago, it said.

Source : Taipei Times

Bijlage:

voda 20 juni 2018 16:49

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GMS Market Commentary on Shipbreaking in Bangladesh in Week 24 - BACK IN BUSINESS!

Following the sale of two FSUs last week, the Sentek owned FSU CONCORD M (41,653 LDT) for a firm USD 448/LT LDT (with 1,000 Tons of bunkers included in the sale) and Nathalin’s FSU AMITY STAR (39,757 LDT) for an excellent USD 415/LT LDT (with about 700 tons of sludge remaining on board), this week, a fully trading VLCC was committed at an enormous price, likely with a Bangladesh resale in mind, despite it being geographically suited for a West Coast India / Pakistan delivery.

Reportedly, the Polembros controlled NEW ANDROS (41,601 LDT) was committed at a fantastic price in the region of USD 448/LT LDT basis an ‘as is’ Khor Fakkan delivery, making this the fifth VLCC recycling sale from the family within 2018 so far.

Minimal cleaning will be required to make her gas free for hot works clean as little sludge reportedly remains on board. The vessel will also have sufficient bunkers for the voyage, in addition to a spare propeller, further enhancing the vessel’s value by about USD 7 to USD 8/LDT.

However, at the time of writing, levels from India and Pakistan do not align with what Cash Buyers are paying for these larger LDT units. As such, it will be interesting to see how these resales are maneuvered in the weeks / months ahead, particularly as even more tonnage is expected to hit the market over the summer period.

The other sale for the week saw Indonesia’s Waruna controlled product tanker MARTHA TENDER (6,050 LDT) that was sold for USD 354/LT LDT, basis an ‘as is’ Belawan, Indonesia delivery, after the original sale failed to materialize.

Source : Strategic Research Institute

voda 20 juni 2018 16:53

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Iron ore concentrate production up

Iran Daily quoted in a report, Iranian Mines and Mining Industries Development and Renovation Organization said that iron ore concentrate production from large mine deposits registered a 27-percent growth in two months, imidro.gov.ir reported. It added that the production at large iron ore concentrate factories in Iran reached 7.709 million tons during the said period. The figure was 6.08 million tons for the corresponding period of last year.

Of the total 7.709 million tons of iron ore concentrate produced, 3.02 million and 1.458 million tons were produced by Gol-e Gohar Complex and Chadormalou Mining and Industrial Company respectively.

Iran is among the 15 mineral-rich countries in the world and exports its industrial and mineral products to 159 countries, including Iraq, China, the United Arab Emirates, India and Afghanistan.

Source : Iran Daily

voda 20 juni 2018 16:53

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NMDC may have to cut iron ore prices due to glut

Business Standard reported that with sale of iron ore from Karnataka mines, including state-owned NMDC, having fallen sharply, miners may have to cut prices of the raw material in order to clamp down the glut situation, industry officials and brokerages said on 18 June. State-owned iron ore miner, NMDC Ltd has the highest contribution to Karnataka's iron ore production which now stands at a ceiling of 35 million tonne from 30 million earlier. NMDC produces about 12 million tonne ore annually from its Donimalai mine in the state.

A senior Mumbai-based analyst on condition of anonymity said that “There is no option but to lower ore prices if the material has to get lifted. This may not happen immediately but over a period of three to six months, we see iron ore prices correcting in Karnataka.” Currently, Karnataka iron ore is priced close to INR 3,000 per tonne as against the Odisha ore which is close to INR 1,600.

Mr H Khayyumali, director of Federation of Indian Mineral Industries told Business Standard that “Karnataka ore price is higher than Odisha because demand is much strong compared to supply in this state. Since the state has a ceiling for production, there is always shortage of ore and hence prices are always beefy here.”

Apart from NMDC, Anil Agarwal-led Vedanta, MSPL Limited and Bellary Iron Ore pvt ltd are some of the iron ore miners in Karnataka. The total capacity of Karnataka iron ore mines can be extended upto 40-45 million tonne. In 2016-17 and 2017-18 the state produced around 27-28 million every year.

Mr Sumeet Dev, general manager-commercial at NMDC without divulging much information informed that “There is no discussion with regard to price revision of Karnataka ore at the moment.” The steel manufacturing industry in Karnataka is, however, of the view that miners should align their prices taking the quality of ore into consideration.

Mr Seshagiri Rao, group chief financial officer and joint managing director of JSW Steel explained that “The ore in Odisha is 62-63 fe grade whereas Karnataka ore is much lower at about 59.5 fe grade. Moreover, with higher moisture, alumina, and silica content in the ore, the Karnataka ore is feeble on several quality parameters compared to the Odisha or imported ore. With this kind of inferior quality ore, the price at which Karnataka ore is being sold to the steel industry is not justified."

Sajjan Jindal-led JSW Steel is the largest buyer of Karnataka ore and it lifts about 60-70 % of the produced ore to cater to its 12 million plant at Vijay nagar.

Kalyani Steel and Kirloskars among others are some of the smaller steel manufacturers in Karnataka state that lift the auctioned ore.

Mr Rao explained that “Though on the face of it, it may look like JSW is buying outside ore at a higher price than Karnataka, the benefit in productivity due to superior quality ore works out at INR 2,600-2,700 per tonne. This is my gains in operations. And so, overall it works out to be cheaper for JSW.”

The company was said to be buying imported and Odisha iron ore for a price at about INR 4,000-4,500 per tonne as against Karnataka ore for INR 3,000 per tonne.

Mr Rao Informed that “We have been buying NMDC ore since 2011 for Karnataka plant as we had no option. Now that we have tested and figured that buying from outside is more beneficial and productivity is better, we have chosen the other option.”

The benefits experienced by JSW production team by sourcing ore from outside has been tremendous especially in terms of blast furnace production, lower slag volumes due to low impurities, lower fuel rates due to low alumina and consistent qualities and increased efficiency of operations due to certainty of feed mix.

Mr Rao said that "The productivity benefits have brought us to a conclusion that sourcing material outside Karnataka is far better than using inferior material at such inflated prices."

India has three major iron ore regions Odisha, Chhattisgarh and Karnataka. Iron ore is the key raw material used in the making of steel.

Source : Business Standard

voda 20 juni 2018 16:54

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Iron ore prices to stay at USD 60 to 70 per DMT - CISA

China iron and steel association said that seaborne iron ore prices will hover in a USD 60 to USD 70/dry metric ton range in the short term, as higher demand and ample supplies of iron ore continue to balance out each other. The Argus ICX price for 62 % seaborne fines has moved in a USD 63 to 69/dmt range since late March.

Increased shipments of iron ore by major mines this month will increase supply pressure, but steel mills’ profits may increase further as downstream demand is expected to remain firm that will support demand and prices of high-grade ores. No new environmental restrictions are expected for steel mills this month, although production will be affected by several mills having maintenance shutdowns.

Firm demand for low-alumina ores and tight supplies of Brazilian fines sharply widened the price differential between BRBF fines and PB fines. At the end of May the premium of BRBF fines to the reference 62 % index was around USD 4/dmt compared with a 50¢/dmt discount to the index for PB fines. The price advantage of PB fines has become apparent that may lead to narrowing of these differentials in the spot market in the short term, said Cisa.

Prices of domestic pellet feed concentrate increased in May, with ex-Tangshan prices rising by 10-20 yuan/dmt (USD 1.50-3.15/dmt), while mainstream imported fines in Tangshan ports fell by Yn15/dmt in the same period. Environmental restrictions on domestic mining were eased in May, which lifted capacity utilisation by 2.4 % from a month earlier to 63.9 %. Inventories with mines fell by 90,000t in May to 2.34 million tonne. Demand for high-grade domestic concentrate will remain robust in the short term, while any upside to output is limited.

Cisa said that overall imported iron ore stocks with Chinese mills increased in May to 31 days of use compared with 29 days in April, so a further building of stocks from these levels seems unlikely.

Source : Argus

voda 20 juni 2018 17:16

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GMS Market Commentary on Shipbreaking in China in Week 24 - TRADE WAR LOOMS

The imposition of 25% tariffs on Chinese goods (as promised previously by President Trump) reportedly came into effect this week, setting off alarm bells as stocks declined on the back of fears that a tit-for-tat trade war from China would be imminent and escalate globally.

While Chinese local steel plate prices remain firm, due to the fact that only one yard (Changjiang yard in the Zhoushan area) remains open to buy tonnage, low ball offers are ensuing for any green / geographically positioned tonnage on offer.

This is the last 6 months during which, demo yard(s) can acquire tonnage before the Chinese market shuts for good for internationally flagged vessels for recycling from January 2019.

However, the ongoing price gulf with the sub-continent markets will likely ensure China spends the latter half of the year on a fairly silent note.

Source : Strategic Research Institute

voda 20 juni 2018 19:46

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Buy the dips: ArcelorMittal
Door John Beijer op 20 jun 2018 om 10:00 | Views: 3.203

Eén van de fondsen die direct geraakt wordt door een eventuele handelsoorlog tussen de VS en China, is staalgigant ArcelorMittal. Toch vinden wij de marktreactie wat overdreven. Wij zien de huidige dip als een mooie koopkans.

Handelsspanningen
Trump houdt de gemoederen weer eens bezig. Een weekje geleden was hij nog helemaal de man na zijn ontmoeting met Kim Jung-un en nu jaagt hij alle beleggers op stang met zijn aankondiging om 10% extra belasting te gaan heffen op Chinese goederen.

De Chinezen reageerden daar uiteraard fel op en dit soort heffingen zal u en mij als consument ook gaan raken. Immers, fabrikanten zullen dit gaan doorberekenen in de prijs en dat is voor de wereldwijde economieën een negatieve ontwikkeling.

Of de soep zo heet wordt gegeten als deze wordt opgediend, is uiteraard nog maar de vraag bij Trump, maar het zet de verhoudingen wel even op scherp.

Einde opkoopprogramma ECB
Verder werd afgelopen week bekend dat de ECB vanaf 1 oktober richting de jaarwisseling het opkoopprogramma nog eens halveert van 30 naar 15 miljard euro per maand en dat het daarna stopt. Dat vind ik een positief teken, want de ECB is van mening dat de markten nu op eigen benen kunnen staan.
De mededeling van het stopzetten van het programma was al verwacht en heeft geen beweging in gang gezet op de markten.

AEX
Het technische plaatje van de AEX-index is de afgelopen dagen wel wat verzwakt. We hebben nu een dubbele top staan op 572 punten en vallen nu zelfs terug onder de steun van 558 punten. Op de daggrafiek is dat een verkoopsignaal.

Technisch gezien hebben we nu steun op 553, 548, 543 en 538 punten. Weerstand is er op de 558, 563, 568 en 572 punten. Sluiten we boven de 572 punten, dan komt het koersdoel van de 609 punten weer in het vizier.
Ik blijf bij mijn visie dat de markten richting eindejaar naar dit niveau onderweg zijn. Een jaar geleden gaf ik u een koersdoel van 542 punten en ook dat is toen als eindejaars koersdoel gehaald. Onze computergestuurde handelsmodellen kunnen dit haarfijn uitrekenen.

Euro
Op valutagebied houden we de euro scherp in de gaten, want als deze onder de 1,15 komt, vallen we terug in de tradingrange 1,05-1,15. Daarin hebben we al jaren bewogen.

ArcelorMittal
Eén van de fondsen die direct geraakt wordt door een eventuele handelsoorlog tussen de VS en China, is staalgigant ArcelorMittal. Toch is de reactie wat overdreven. De importtarieven die de VS op staal uit de EU oplegt, raken dit bedrijf maar in kleine mate. Immers, de export van ArcelorMittal uit de Europese Unie naar de VS is zeer beperkt.

ArcelorMittal heeft meer last van de heffingen op Mexicaans staal. Het concern heeft fabrieken in Brazilië en Mexico die halffabricaten aan de VS leveren. Dat is goed voor 25% van de omzet.

Aan de andere kant zien we dat de wereldwijde economieën het momenteel heel goed doen en dat de aantrekkende vraag de staalprijzen verder opdrijft. Dat kan de eventuele importheffingen dus compenseren.

Het technische plaatje van ArcelorMittal laat een top zien op 12 januari van 30,76 euro. Mede door de eerder aangekondigde handelssancties viel de koers daarna - in lijn met de financiele markten - terug naar 24,33 euro, om in mei weer op te veren naar 30,75 euro.

Inmiddels noteert het aandeel rond de 27 euro en zou de koers nog terug kunnen naar de steun van 25,72 euro. In die zone ben ik van mening dat ArcelorMittal weer mag worden opgepikt en dat we de oude toppen van begin dit jaar richting 30,75 euro weer mogen gaan opzoeken.

Kortom, de huidige dip vinden wij een overdreven reactie. Wij zien het als een mooie koopkans voor dit mooie fonds.

Beijer heeft zakelijk posities in Aegon, PostNL, VIX en KPN. Privé heeft hij longposities in Ahold, PostNL en Aegon.

John Beijer is directeur van Beursfoon en heeft twintig jaar ervaring met de handel in opties en futures. Beursfoon geeft handelssignalen voor een breed scala aan beleggers, van daghandel tot lagere termijn. De handelssignalen van Beursfoon worden gegenereerd door een exclusief computersysteem dat door veel professionele beleggers in de VS wordt gebruikt. In zijn columns combineert John Beijer deze kwantitatieve signalen met fundamentele analyse en een grote dosis eigen visie. De columns zijn dus niet per definitie gelijk aan de signalen van het Beursfoon-systeem. De informatie in deze column is niet bedoeld als individueel beleggingsadvies of als individuele aanbeveling tot het doen van bepaalde beleggingen. Beleggers wordt geadviseerd bij elke beleggingsbeslissing contact op te nemen met zijn of haar financiële adviseur. John Beijer heeft geen posities in individuele aandelen en beleggingsfondsen. Als posities worden ingenomen in de aandelen of fondsen waarover wordt geschreven zal dit onder aan de column worden vermeld.

Voor afbeeldingen, zie link:

www.belegger.nl/Column/279475/Buy-the...

voda 21 juni 2018 18:44

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Reuters: JSW Steel plans bid for ArcelorMittal's Romanian plant

Jun. 21, 2018 10:04 AM ET|About: ArcelorMittal (MT)|By: Carl Surran, SA News Editor
India’s biggest steelmaker JSW Steel plans to make a bid for ArcelorMittal’s (MT -1.5%) Galati plant in Romania, potentially competing against Ukraine’s Metinvest and Italy’s Marcegaglia, Reuters reports.

MT has offered six European assets up for sale to get approval from European competition authorities for its purchase of Italy’s giant Ilva plant; Galati, Romania’s biggest steel plant, is the largest of the assets.

Jefferies analysts estimate the combined value of the assets up for sale is $752M-$940M.

voda 21 juni 2018 18:48

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Trump Trade War - EU adopts rebalancing measures

The European Commission has adopted the regulation putting in place the EU’s rebalancing measures in response to the US tariffs on steel and aluminium. The measures will immediately target a list of products worth USD 2.8 billion and will come into effect on Friday 22 June. The list of US imports that will now face an extra duty at the EU border includes steel and aluminium products, agricultural goods and a combination of various other products. By putting these duties in place the EU is exercising its rights under the World Trade Organisation (WTO) rules.

Commissioner for Trade Cecilia Malmstrom said "We did not want to be in this position. However, the unilateral and unjustified decision of the US to impose steel and aluminium tariffs on the EU means that we are left with no other choice. The rules of international trade, which we have developed over the years hand in hand with our American partners, cannot be violated without a reaction from our side. Our response is measured, proportionate and fully in line with WTO rules. Needless to say, if the US removes its tariffs, our measures will also be removed."

This announcement follows the notification of the full list to the WTO and its endorsement by the College of Commissioners on 6 June, following the US application of the full tariffs on EU steel and aluminium products. EU Member States have expressed their unanimous support for this approach.

The EU will rebalance bilateral trade with the US taking as a basis the value of its steel and aluminium exports affected by the US measures. Those are worth €6.4 billion. Of this amount, the EU will rebalance on €2.8 billion worth of exports immediately. The remaining rebalancing on trade valued at €3.6 billion will take place at a later stage – in three years' time or after a positive finding in WTO dispute settlement if that should come sooner.

The EU rebalancing measures will be effective for as long as the US measures are in place, in line with the WTO Safeguards Agreement and EU legislation.

The Implementing Regulation, to be published tomorrow and entering into force on Friday, sets out the products and level of duties to be applied, both now and in the future, if necessary.

The list of products is the same as in the previous Implementing Regulation of 16 May and as notified to the WTO on 18 May.

Source : Strategic Research Institute

voda 21 juni 2018 18:49

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Trump Trade War – US DoC grants first product exclusion requests from Section 232 tariffs on steel imports

US Secretary of Commerce Wilbur Ross announced that the Department’s Bureau of Industry and Security (BIS) has begun granting its first product exclusions from the Section 232 tariffs on imports of steel. He said “This first set of exclusions confirm what we have said from the beginning – that we are taking a balanced approach that accounts for the needs of downstream industries while also recognizing the threatened impairment of our national security caused by imports.

Exclusions are being granted after a thorough and transparent process of public comment and analysis to determine whether domestic industry can provide those products of a satisfactory quality and in sufficient quantity, as well as whether it is in the US national security interest to grant an exclusion for a specific product.

Exclusions generally are granted if there is no domestic availability and there are no overriding national security concerns with regard to the specific product. The 42 exclusion requests being issued today cover seven different companies importing steel products from Japan, Sweden, Belgium, Germany, and China. The seven companies receiving the exclusions are: Schick Manufacturing, Inc. of Shelton, Connecticut; Nachi America Inc. of Greenwood, Indiana; Hankev International of Buena Park, California; Zapp Precision Wire of Summerville, South Carolina; U.S. Leakless, Inc. of Athens, Alabama; Woodings Industrial Corporation of Mars, Pennsylvania; and PolyVision Corporation of Atlanta, Georgia.

The Department of Commerce will also be denying 56 steel exclusion requests from 11 different companies.

Commerce will be posting decisions on steel and aluminum exclusion requests on an ongoing basis. Granted and denied exclusion requests can be viewed at regulations.gov under steel docket number BIS-2018-0006 and aluminum docket number BIS-2018-0002.

Source : Strategic Research Institute

voda 21 juni 2018 18:50

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Lenders negotiating with Liberty House to raise offer for Adhunik Metaliks - Report

Financial Express reported after Adhunik Metaliks (AML) received additional time to complete the ongoing insolvency resolution process, lenders are now negotiating with UK-based Liberty House for exploring opportunity to raise its offer for the bankrupt company. A source close to the development told FE “Lenders to the company are currently negotiating with Liberty House in order to explore the opportunity to improve its offer.”

Last week, the Kolkata bench of the National Company Law Tribunal (NCLT) had ordered exclusion of 20 days from the mandated 270-day deadline under the corporate insolvency resolution process (CIRP) for the debt-laden steelmaker. There were only two resolution applicants Liberty House and Maharashtra Seamless of the DP Jindal Group. The committee of creditors (CoC) of AML already identified Liberty House as the highest bidder (H1), while the plan of Maharashtra Seamless was rejected as it was offering less value than the liquidation value of the company.

AML and Zion Steel put together, Liberty House’s current offer stands around INR 600 crore. Zion Steel, an Adhunik Group company, is also undergoing an insolvency resolution process, where Liberty House is the highest bidder (H1). The CoC meet to consider approving Liberty House’s revised resolution plan is likely to take place later this month, said the people cited above.

Lenders to the bankrupt company, a flagship of the Adhunik Group, are State Bank of India, Punjab National Bank, ICICI Bank, IFCI, Punjab & Sind Bank, UCO Bank, Allahabad Bank, Bank of Baroda, Corporation Bank and SREI Infrastructure Finance, among others.

Source : Financial Express

voda 21 juni 2018 18:50

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Bhushan Energy IRP may move court against Tata Steel for terminating PPA - Report

Business Standard reported that the move by Tata Steel to terminate the power purchase agreement (PPA) between Bhushan Steel and its subsidiary Bhushan Energy is set to be challenged in court. According to sources, the resolution professional for Bhushan Energy is likely to move court against Tata Steel’s resolution plan for Bhushan Steel. The BS report quoted a siurce as saying that “The PPA between the two companies is a captive one and if it is terminated, the liquidation value of Bhushan Energy will go down drastically.”

The PPA relates to buying of power generated by Bhushan Energy by Bhushan Steel.

Bids are usually weighed against the liquidation value of a company. If the liquidation value goes down, the chances of getting higher bids become difficult. JSW Energy has reportedly shown an interest in acquiring Bhushan Energy.

Source : Business Standard

voda 21 juni 2018 18:51

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Essar Steel dues to Odisha Slurry Pipeline Infrastructure continue to pile up - Report

Financial Express reported that Odisha Slurry Pipeline Infrastructure (OSPIL), which owns the pipeline carrying iron ore to Essar Steel, has not been receiving payments from the steelmaker, Sunil Kanoria, vice-chairman, Srei Infrastructure Finance, has confirmed. Kanoria told FE that since the pipeline is a leased asset, payments should have been regular. He said “It’s an operating expense and the company should have paid the monthly rentals. The company is using the asset, but not paying.”

OSPIL owns the pipeline that carries iron ore from Odisha to Paradip port, from where the ore is sent to Essar Steel’s plant in Hazira, Gujarat. The remaining 30% is held by Essar Steel. India Growth Opportunities Fund, floated by Srei Infrastructure, holds a 70% stake in OSPIL.

Source : Financial Express

voda 21 juni 2018 18:51

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US DoC issues preliminary determinations on large dia welded pipe from China, India, Korea, and Turkey

The US Department of Commerce announced the affirmative preliminary determinations in the countervailing duty (CVD) investigations of imports of large diameter welded pipe from China, India, Korea, and Turkey, finding that exporters received countervailable subsidies at the following rates: China – 198.49 percent; India – 541.15 percent; Korea – 0.01 (de minimis) to 3.31 percent; Turkey – 1.08 to 3.76 percent . Commerce will instruct US Customs and Border Protection to collect cash deposits from importers of large diameter welded pipe from China, India, Korea, and Turkey based on all preliminary rates that are above de minimis.

In 2017, imports of large diameter welded pipe from China, India, Korea, and Turkey were valued at an estimated $29.2 million, $294.7 million, $150.9 million, and $57.3 million, respectively. These deadlines have been fully extended.

The petitioners are American Cast Iron Pipe Company (Birmingham, AL), Berg Steel Pipe Corp. (Panama City, FL), Berg Spiral Pipe Corp. (Mobile, AL), Dura-Bond Industries (Steelton, PA), Greens Bayou Pipe Mill, LP (Houston, TX), JSW Steel (USA) Inc. (Baytown, TX), Skyline Steel (Parsippany, NJ), Stupp Corporation (Baton Rouge, LA), and Trinity Products LLC (Fallon, MO).

The U.S. International Trade Commission (ITC) is currently scheduled to make its final injury determinations on December 20, 2018. If Commerce makes affirmative final determinations and the ITC makes affirmative final injury determinations, Commerce will issue CVD orders. If Commerce makes negative final determinations or the ITC makes negative final determinations of injury, the investigations will be terminated and no orders will be issued.

The U. Department of Commerce’s Enforcement and Compliance unit within the International Trade Administration is responsible for vigorously enforcing U.S. trade laws and does so through an impartial, transparent process that abides by international rules and is based solely on factual evidence provided on the record.

Source : Strategic Research Institute

voda 21 juni 2018 18:52

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Italian Arlenico and Feralpi Siderurgica order rebar and wire rod technology from SMS

Arlenico SpA and Feralpi Siderurgica SpA, two key Italian wire-rod producers, have each ordered a four-stand MEERdrive®PLUS finishing block from SMS group within one week. Both wire-rod finishing blocks will be integrated in the companies’ existing plants.

Arlenico, part of the Duferco Italia Holding, a special quality wire rod producer located beside the Lecco Lake, chose the four-stand MEERdrive®PLUS block to be installed in the existing wire rod line at its Caleotto plant. This will allow the company to serve the market with products of the tightest tolerances ever produced, as thanks to the heavy-duty machine supplied by SMS group and a sophisticated water cooling line included in the project, it will for the first time be able to apply the thermomechanical rolling process.

Feralpi, producer of rebar and wire rod for construction in Italy, located beside the Garda Lake, is investing in the four-stand MEERdrive®PLUS block in order to increase production and the rolling speed and be able to extend the size range produced and achieve enhanced final mechanical properties. Also in this case a sophisticated water cooling line will serve the four-passes wire rod sizing block.

MEERdrive®PLUS is a variant of the MEERdrive® technology, a revolutionary drive concept for modern wire rod production. It uses individual drives with small low-voltage motors for each stand. Since all finished sizes are rolled in the MEERdrive®PLUS block, it is possible to realize “one-family rolling” in the rolling mill reducing the otherwise required mill downtimes for size and ring changing.

The MEERdrive®PLUS blocks, which will both be installed after an existing ten-passes block, will be four-stand “oval-round-round-round” sizing blocks, capable of rolling wire rod diameters from 4.5 millimeters up to 27 millimeters at speeds up to 120 meters per second - also at a temperature as low as 750 degrees centigrade. Excellent tolerances down to 0.05 millimeters and 50 percent ovality can be achieved.

These two new finishing blocks to be supplied to Arlenico and Feralpi are references number eleven and twelve, documenting the long success story of the MEERdrive® technology which started with block number one supplied to Sinobras in 2007. Arlenico and Feralpi will benefit from a wide range of outstanding economical and operational advantages. For example, it will be possible to reduce the required roll inventory to a minimum.

Source : Strategic Research Institute

voda 21 juni 2018 18:52

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Trump Trade War - Canada welcomes US comments on its steel not posing a threat

Reuters reported that Canadian Foreign Minister Chrystia Freeland told reporters that Canada welcomes comments that US Commerce Secretary Wilbur Ross made on Wednesday to the effect that Canadian steel does not pose a direct security threat

The US administration last month imposed tariffs on steel and aluminum from a number of nations, citing security reasons. Ross, speaking to a U.S. Senate committee, said Washington was most concerned about overall steel imports.

Source : Reuters

voda 21 juni 2018 18:53

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New steel plants in Andhra and Telengana viable - Experts

Times Of India reported that according to Arnab K Hazra, assistant secretary general of the New Delhi based Indian Steel Association, the proposed 1.5 million tonnes per annum in Telangana would be greenfield projects. Asked whether a 1.5 million tonnes per annum would be viable as a commercial enterprise, Hazra said that the plants’ viability would depend on the easy availability of critical raw materials like iron ore and coking coal.

Mr BN Singh, a former chairman and managing director (CMD) of Rashtriya Ispat Nigam Ltd in Visakhapatnam said that “If the proposed steel plant in Khammam district of Telangana gets assured iron ore supplies from the Bailadila mines in Odisha, which is about 400 km from Khammam, then a 1.5 million tonnes per annum plant can be viable. But the issue that needs to be resolved is the supply of coking coal, which has to be imported. The nearest port for importing the coal would probably be Visakhapatnam, which is about 430 km away. The steel plant will have to get a consistent supply of coking coal for it to be viable.”

According to another former CMD of RINL, the Kadapa steel plant appeared viable because of the availability of iron ore in the neighboring district of Anantapuramu (Anantapur) and the contiguous district of Bellary in Karnataka. Again, the coking coal for the plant would need to be imported either through the ports of Krishnapatnam in Andhra Pradesh or Ennore in Tamil Nadu, which are, respectively, 200 km and 260 km from Kadapa. Both seaports handle break bulk cargo like coking coal.

Source : Times Of India

voda 21 juni 2018 18:54

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Tata Steel started despatch of Ferro Chrome branded as Tata Tiscrome

Financial Express reported that Tata Steel has started despatch of Ferro Chrome branded as Tata Tiscrome from its ferro chrome plant located in Gopalpur Industrial Park in Odisha’s Ganjam district. The recently commissioned first green field ferro-chrome plant of Tata Steel achieved a major milestone with the first ever despatch of ferrochrome from the plant getting flagged off on June 18.

Mr Chanakya Chaudhary, vice president, Raw Materials, Tata Steel and Arun Misra vice president, Project Gopalpur, Tata Steel and MD, TSSEZ flagged off the despatch. The first despatches were made to Tata Steel’s distributors in North and West India. To mark this special occasion, both the distributors extended support of INR 5 lakh each to “Daughters of Charity Mary Villa Home”, an old age home in Ganjam district, it said.

As part of the anchor investment in Tata Steel’s Gopalpur Industrial Park, the Ferro-chrome plant has an installed capacity of 55,000 tonnes per annum. It is a unique environment-friendly plant with state-of-the-art pollution control equipment and technology such as the ETP (Effluent Treatment Plant) and STP (Sewage Treatment Plant).

It has 100 per cent water harvesting facility that caters to most of the water needs of the plant. It has an indigenously built semi-closed hybrid furnace, which is first of its kind in India and components procured from all over the world to maintain high standards of quality and safety. Also, it is the first plant in India to use briquetting method of chrome ore fines agglomeration with ore proportionating facility, it said.

It has factory stuffing yard inside the plant premises which has a concept to directly dispatch to customers through containers QA Checked, weighed, sealed & customs clearance at site. Besides the plant at Gopalpur, Tata Steel has three other Ferro-alloys plants in Odisha a 65,000 TPA plant at Bamnipal in Keonjhar district, 55,000 ferro Manganese plant in Joda and one at Athagarh in Cuttack district of 55,000 TPA capacity under the management of its 100 per cent subsidiary TS Alloys, the release added.

Source : Financial Express

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