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voda 29 juni 2018 17:02

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Lekker staal gebruik, denk ik! :-)

Hyderabad to have largest cable bridge by March 2019 - Report

Deccan Chronicle reported that by March 2019, Hyderabad will be having the India’s largest Cable bridge as the Durgam Cheruvu Cable bridge work is progressing swiftly. The 144-metre cable bridge in the Baruch district of Gujarat is currently the largest. The construction of the 754.38 metre bridge has been taken up at a cost of Rs 184 crores. About 13 foundations have been opened and construction of 12 pillars has been completed.

With the completion of the bridge, the traffic from Madhapur and Jubilee Hills would be seamless and it is set to become a great tourist destination, as it is known to be the first Hyderabad hanging bridge with colorful power outages.

The first segment re-infrastructure tasks in the main bridge are in progress. Stay cables were specially brought from Austria. While bridge builder works and track beam fabrication works are in progress, the cable bridge precast works are going on in Kondapur, according to the GHMC commissioner Dr B. Janardhan Reddy who said, “The main bridges with a length of 25 meters are 6.5 meters high in pre-casting construction in Kondapur”

Source : Deccan Chronicle

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voda 29 juni 2018 23:55

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Chinese iron ore imports stay robust in June – Reuters

Mr Clyde Russell wrote in Reuters that China’s imports of iron ore appear headed for their strongest month this year in June, but the risks of a slowdown in the second half of 2018 are mounting. According to vessel-tracking and port data compiled by Thomson Reuters Supply Chain and Commodity Forecasts, seaborne imports in June of the steel-making ingredient were 88.9 million tonnes by the 27th of the month and with three days of unloading left, it’s likely that June imports will exceed the 91.1 million tonnes captured by the shipping data in May, and possibly exceed the official customs number of 94.1 million reported for last month.

Seperately, according to vessel-tracking and port data compiled by Thomson Reuters Supply Chain and Commodity Forecasts Data on Thomson Reuters Eikon sperately showed that Iron ore arrivals for June are set to be 98.22 million tonnes. That would be the highest ever for the Supply Chain data going back to February 2016.

The flood of imported iron ore will be piled on top of the 155.88 million tonnes of iron ore currently held at Chinese ports, according to data from consultants SteelHome. The stockpiles reached a record 161.98 million tonnes in early June and are 42 percent higher than the five-year average of 113.45 million tonnes.

Source : Reuters

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voda 1 juli 2018 17:52

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Investeerders ThyssenKrupp laken staaldeal

Gepubliceerd op 1 jul 2018 om 13:30 | Views: 748

ArcelorMittal 29 jun
25,11 -0,17 (-0,67%)

THYSSENKRUPP AG O.N. 29 jun
20,86 +0,23 (+1,11%)

ESSEN (AFN) - Grote investeerders van het Duitse industrieconcern ThyssenKrupp zijn niet te spreken over de voorwaarden van de staalfusie met Tata Steel in Europa. Dat meldt persbureau Bloomberg op basis van ingewijden.

ThyssenKrupp en Tata maakten vrijdag de deal wereldkundig, waarmee ze hun staalactiviteiten in Europa samensmelten. De nieuwe joint venture, het op een na grootste staalbedrijf van Europa, wordt gelijk verdeeld tussen aandeelhouders van de Duitsers en van het bedrijf uit India.

Tijdens de onderhandelingen klonk er al kritiek van investeerders van ThyssenKrupp dat ze met een 50-50-verdeling bekocht zouden worden, omdat de winsten van Tata onder druk staan. De activistische belegger Elliott Capital drong naar verluidt zelfs aan op een 80-20-verdeling. Cevian, de grootste geldschieter van ThyssenKrupp, stemde volgens bronnen uiteindelijk tegen de deal, ook al staat daarin dat investeerders van ThyssenKrupp bij een eventuele beursgang van de joint venture 55 procent krijgen en die van Tata de rest. Union Investment noemde de deal ,,teleurstellend".

Onderhandelingen

Naar aanleiding van de kritiek van onder meer Elliott en de bij ThyssenKrupp betrokken bonden ging topman Heinrich Hiesinger opnieuw met vertegenwoordigers van Tata om de tafel. Het resultaat van die onderhandelingen was genoeg om de bonden te overtuigen in te stemmen met de deal. Vrijdag gaf ook de Nederlandse ondernemingsraad zijn zegen aan de overeenkomst, die maandag ondertekend wordt. Mededingingsautoriteiten moeten wel nog instemmen.

In Nederland sprak Tata Steel met de bonden af dat hier hooguit vierhonderd arbeidsplaatsen verdwijnen. Bij de ondernemingsraden, werknemers en vakbonden bij ThyssenKrupp en in IJmuiden waren grote zorgen, vooral vanwege het in september al aangekondigde banenverlies. Er zijn toezeggingen gedaan dat daarbij geen gedwongen ontslagen zullen plaatsvinden.

voda 2 juli 2018 17:18

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'ThyssenKrupp Tata Steel lange verbintenis'

Gepubliceerd op 2 jul 2018 om 12:04 | Views: 694

ArcelorMittal 17:02
24,65 -0,46 (-1,83%)

THYSSENKRUPP AG O.N. 29 jun
20,86 +0,23 (+1,11%)

BRUSSEL (AFN) - Het samenvoegen van de Europese staaldivisies van ThyssenKrupp en Tata Steel wordt ,,een lange verbintenis''. Dat zei de voorzitter van het Indiase Tata Steel, Natarajan Chandrasekaran, moederbedrijf van het voormalige Hoogovens in IJmuiden, tijdens een persconferentie in Brussel.

De fusie is ,,de enige oplossing om aanzienlijke toegevoegde waarde te creëren''. De nieuwe joint venture, die ThyssenKrupp Tata Steel gaat heten, is volgens de Duitse topman Heinrich Hiesinger het ,,perfecte antwoord'' op uitdagingen als de overcapaciteit op de wereldmarkt en de werkgelegenheid die onder druk staat.

Het hoofdkantoor wordt op een nog niet bekende locatie ,,in de regio Amsterdam'' gevestigd. Daardoor komen er naar verwachting honderd tot tweehonderd banen bij. Voor Amsterdam is gekozen vanwege de ligging tussen het Verenigd Koninkrijk en Duitsland, waar beide bedrijven fabrieken hebben. Het bestuur van de joint venture zal uit zes mensen bestaan, drie van de Duitsers en drie van Tata Steel. Namen zijn nog niet bekend.

Goedkeuren

Het straks op een na grootste staalbedrijf van Europa wordt gelijk verdeeld tussen aandeelhouders van de Duitsers en van Tata Steel. Maar ThyssenKrupp heeft het exclusieve recht om te bepalen of en wanneer de joint venture naar de beurs gaat. Van de opbrengsten krijgt ThyssenKrupp dan 55 en Tata Steel 45 procent. Die verhouding moet de kritiek van grote Duitse investeerders op de fiftyfiftyverdeling van de joint venture verzachten.

De Europese Commissie moet de fusie nog goedkeuren, maar Hiesinger heeft daar vertrouwen in. ,,We weten wat we moeten doen''. Hij kon niet zeggen wanneer de nieuwe combinatie operationeel wordt.

voda 2 juli 2018 20:01

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Tata Steel and thyssenkrupp sign definitive Joint Venture agreements to create new steel champion in Europe

Tata Steel and thyssenkrupp AG have signed definitive agreements to combine their European steel businesses in a 50/50 joint venture in a new company. This follows the signing of a Memorandum of Understanding in September 2017. The proposed new company, to be named thyssenkrupp Tata Steel BV, will be positioned as a leading pan-European high-quality flat steel producer with a strong focus on performance, quality and technology leadership. The joint venture is built on the strong foundations of common value systems and a long heritage in the industry. The transaction is subject to merger control clearance in several jurisdictions, including the European Union.

Natarajan Chandrasekaran, Chairman of Tata Steel, said: “The joint venture will create a strong pan European steel company that is structurally robust and competitive. This is a significant milestone for Tata Steel and we remain fully committed to the long-term interest of the joint venture company. We are confident that this company will create value for all stakeholders.”

Dr. Heinrich Hiesinger, CEO of thyssenkrupp AG: “We will create a highly competitive European steel player – based on a strong industrial logic and strategic rationale. We will secure jobs and contribute to maintaining value chains in European core industries.”

Until closing, thyssenkrupp Steel Europe and Tata Steel in Europe still operate as separate companies and as competitors. Only after closing, thyssenkrupp Steel Europe and Tata Steel in Europe will be integrated as one company.

Source : Strategic Research Institute

voda 2 juli 2018 20:02

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Trump Trade War - Canada finally retaliates

Canadian government has unleashed a Canada Day trade barrage on the United States, moving ahead with tariffs that will hit American products, from steel and aluminum to maple syrup and orange juice. The Canadian government confirmed Sunday that it has imposed tariffs on US exports worth CAD 16.6 billion dollars (USD 12.5 billion). More than 40 US steel products attract tariffs of 25%. A tax of 10% has been levied on over 80 other American items including pizza, toffee, maple syrup, coffee beans, strawberry jam, whiskies, toilet paper and inflatable boats wef July 1st.

Canada’s Prime Minister Justin Trudeau made sure to weave in a mention of Canada's steel and aluminum industries along with the usual Canada Day pleasantries during his annual statement to Canadians. Trudeau gave a nod to Canadian workers in his statement. He said "Canada's workers build the roads and bridges that get us to work on time and back home again. They put food on the table for families from coast to coast to coast. Some are young people starting their career, or newcomers bringing fresh talent to the workforce. From Ontario steel to Quebec aluminum, from agriculture and the energy sector in the Prairies and the North, to forestry in British Columbia and fisheries in the Atlantic, Canadians get the job done — and build our communities along the way."

Canada’s Foreign Affairs Minister Ms Chrystia Freeland said that “The measured, perfectly reciprocal” actions are in line with similar moves from the European Union and Mexico that are in response to the tariffs imposed by the US in May. We will not escalate, and we will not back down. It is a reciprocal action. It is a dollar for dollar response. We are perfectly within our rights to respond.”

Source : The Star

voda 2 juli 2018 20:02

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Trump Trade War - Tenaris lays off 40 workers in Sault Ste Marie in Canada

Globe & Mail reported that Tenaris is laying off workers in Ontario in response to US tariffs on Canadian steel and aluminum. David McHattie, a spokesman for Tenaris which manufactures steel pipes, said 40 workers at the company’s mill in Sault Ste. Marie, Ont, were laid off on Sunday because of changes in the export market.

McHattie says the company is also adjusting its production levels as a result of the tariffs and what he calls the effect of increased import competition in Canada from countries no longer able to sell in the US.

He said “The environment is very uncertain and as such we do not have other plans.”

Source : Globe & Mail

voda 2 juli 2018 20:03

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Steel Ministry’s Special Secretary Mr Saraswati Prasad gets additional charge as SAIL Chairman

PTI reported that the government has appointed senior IAS officer Mr Saraswati Prasad as the new chairman of SAIL. Mr Prasad, who is the special secretary and financial advisor in the steel ministry, has been given additional charge of SAIL Chairman on retirement of incumbent P K Singh. Appointment Committee of the Cabinet, Ministry of Personnel, Public Grievances and Pensions said “Assignment of additional charge of the post of chairman and managing director, Steel Authority of India Limited (SAIL) to Saraswati Prasad, lAS, special secretary and financial advisor, Ministry of Steel, with immediate effect and until further orders.”

The government headhunter PESB had recommended the name of Anil Kumar Chaudhary for the top post of state-run SAIL. It had said "PESB (Public Enterprises Selection Board) recommended the following name (Anil Kumar Chaudhary) for the post of Chairman, Steel Authority of India Ltd.”
Mr Chaudhary is the director finance of the country's largest steel maker SAIL.

Besides Chaudhary, other candidates who were interviewed by the public enterprises' selection board were Moil Director Tanmaya Kumar Pattnaik, SAIL Executive Director Alok Sahay, SAIL Director (Commercial) Soma Mondal and Central Electronics Ltd Chairman and Managing Director Nalin Shinghal, PESB had said.

Source : PTI

voda 3 juli 2018 19:10

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Numetal questions ArcelorMittal's eligibility to bid for Essar Steel

Business Standard reported that Russia's VTB Capital-backed Numetal Ltd, which is in the race to acquire Essar Steel, on Monday alleged that rival ArcelorMittal India Ltd is not eligible to bid for the debt-ridden company under the IBC as it was the promotor of two defaulting companies Uttam Galva and KSS Petron. During the proceedings of the National Company Law Appellate Tribunal (NCLAT), Numetal submitted that as per the rules of the Insolvency & Bankruptcy Code (IBC), ArcelorMittal should have first clear the dues by making upfront payment before submitting its resolution plan for Essar Steel. Senior advocate Mukul Rohatgi appearing for Numetal said that although ArcelorMittal has offered to pledge INR 70 billion in an escrow account but that is conditional. He said "If they win they would pay, if not then it would be scrapped. This payment should have been upfront and should be before the first day when you ArcelorMittal have made bid."

He added that ArcelorMittal also divided a method by divesting its stake in the defaulting companies. He said "They wanted to get rid of all shares and removed their name from the promotor of the company.”

Moreover, he also informed the appellate tribunal that Numetal has removed Aurora Trust of Ruia family from the company.

The NCLAT bench headed by Chairman Justice S J Mukhopadhaya would resume its hearing on the matter on July 4.

Source : Business Standard

voda 3 juli 2018 19:11

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Thyssenkrupp shareholder Cevian Capital calls for further restructuring after JV

Reuter reported that major Thyssenkrupp shareholder Cevian called for further restructuring of the German conglomerate a day after it sealed a steel joint venture with India`s Tata Steel. Mr Lars Foerberg, founding partner of Cevian Capital, told Reuters that "The creation of the steel joint venture and the deconsolidation of the steel business from Thyssenkrupp is a step towards reducing the overly complex conglomerate structure. There is now an urgent need and opportunity to address the significant and persistent underperformance of the industrial businesses.”

Mr Foerberg said the best operating structure and ownership for each of the group`s businesses now needed to be assessed and that they would only survive and prosper if they were nimble and efficient. He said that "With the right strategic decisions and world-class execution, Thyssenkrupp could be valued at the equivalent of 50 euros per share, rather than today`s 21 euros.”

Activist investor Cevian is the second largest shareholder in Thyssenkrupp and, like fellow shareholder Elliott, has criticized Thyssenkrupp CEO Heinrich Hiesinger, saying there is significant room for improvement at the steel-to-submarines conglomerate.

Source : Reuters

voda 3 juli 2018 19:11

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Tangshan to halve steel mills by 2020

Reuters reported that China’s top steelmaking city Tangshan plans to halve the number of its steel producers by 2020 and eliminate inefficient equipment, in its latest push to consolidate its steel sector and help clear one of the country’s most polluted cities. Tangshan’s Industry and Information Technology Bureau official said “The city aims to keep less than 30 steel companies by 2020 and cut it further to around 25 by 2025. Those who fail to meet environmental and efficiency standards will be shut, and also those that cannot convert from road transport to rail by 2020.’

He added “Tangshan also plans to phase out blast furnaces with annual production capacity of less than 1 million tonnes, by 2020, the official said. Converters, also used in steelmaking, with annual capacity below 1.15 million tonnes and sintering machines smaller than 180 square meters will be scrapped.”

Tangshan is home to 64 steelmakers in China’s northern province Hebei, producing 91.2 million tonnes of crude steel in 2017, or 11 percent of the country’s total output.

Source : Reuters

voda 3 juli 2018 19:12

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KIOCL to set up iron ore pellet plant in Visakhapatnam

Business Standard reported that KIOCL, formerly known as Kudremukh Iron Ore Company Ltd, is planning to invest about INR 25 billion for setting up a 1.2 million tonne pellet plant in Visakhapatnam, apart from diversifying its product portfolio to add Ductile Iron (DI) Spun pipes in the near future. Union Steel Minister, Chaudhary Birender Singh, has said that “KIOCL will set up a pellet plant in Vizag, which will then supply it to the nearby steel unit run by Rashtriya Ispat Nigam Ltd (RINL). The surplus pellet will be exported from the port city.”

According to a senior official at KIOCL, for the proposed pellet plant in Visakhapatnam, iron ore will be sourced from Karnataka.

The company, which had been badly hit after losing its iron ore mining lease in the eco-sensitive Western Ghats, had got approval for allocation of a mining lease spreading over 474 hectares in Ballari district of Karnataka last year. Allocation of a captive mine has provided much needed respite to the state-owne entity, which is operating a 3.5-million tonne per annum pellet plant in Mangaluru.

Source : Business Standard

voda 3 juli 2018 19:13

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Adhunik Metaliks CoC meets to mull clearing Liberty’s resolution plan

Financial Express reported that the committee of creditors (CoC) of Adhunik Metaliks (AML) met on Monday to consider approving the resolution plan for the insolvent company submitted by UK-based Liberty House, the highest bidder. There were only two resolution applicants for the debt-laden steel maker — Liberty House and Maharashtra Seamless of the DP Jindal group. The CoC of Adhunik Metaliks already identified Liberty House as the highest bidder (H1), while the plan of Maharashtra Seamless was rejected as it was offering less than the liquidation value of the company. In his submission before the Kolkata bench of the National Company Law Tribunal (NCLT) on Monday, Sumit Binani, resolution professional (RP) of AML, said: “The committee of creditors will consider today the resolution plan forwarded by the bidder.”

Earlier, FE reported that lenders were negotiating with Liberty House for exploring opportunity to raise its offer for the bankrupt company after it had received additional time to complete the ongoing insolvency resolution process. For AML, the extended period of corporate insolvency resolution process (CIRP) will expire on July 5.

Notably, the Kolkata bench of the NCLT on June 15 had ordered exclusion of 20 days from the mandated 270-day deadline under the CIRP for the company, the flagship of the Adhunik Group.

Lenders to AML 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. AML and Zion Steel put together, Liberty House’s offer earlier stood at around Rs 600 crore.

In case of Adhunik Metaliks, as many as 18 financial creditors submitted claims worth over Rs 5,380 crore, while claims over Rs 5,370 crore were admitted. AML has an integrated steel plant in Odisha’s Sundergarh. Currently, the plant is not operating due to the absence of power supply.

For Zion Steel, the extended period of CIRP will also expire on July 5. The tribunal will hear the matters on AML and Zion Steel on July 5.

Source : Financial Express

voda 3 juli 2018 19:13

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Lenders keen to offer Uttam Galva units to single bidder - Report

Mint, citing two people aware of the development, reported that the resolution process of Uttam Value Steels Ltd (UVSL), which was admitted for insolvency proceedings on 26 June, may have to wait till there is more clarity on the status of insolvency proceedings against Uttam Galva Metallics Ltd (UGML). The sources said “Uttam Galva Metallics and Uttam Value Steels are integrated facilities although they operate as separate legal entities. The lenders could face difficulty in attracting buyers if both plants are not offered together.”

Both companies are subsidiaries of Uttam Galva Steels Ltd. Uttam Value Steels and Uttam Galva Metallics owe banks INR 3,200 crore and INR 2,200 crore, respectively.

UGML manufactures pig iron from iron ore, which is a raw material for intermediate products for manufacturing value-added steel. The entire hot metal production of UGML is supplied to UVSL located close to it the same day. The company also has a captive power plant, which addresses almost 100% of its power generation demand.

Source : Mint

voda 3 juli 2018 19:14

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Tata Steel to buy more iron ore from OMC after Bhushan Steel takeover - Report

Business Standard reported that after the successful takeover of Bhushan Steel Ltd, Tata Steel is looking to bolster its iron ore supplies to help operate the acquired plant at its full rated capacity. BS quoted a Tata Steel official as saying that "After the Bhushan Steel acquisition, we are now in the process of settling down. We are considering many options for iron ore and we are open to buy from external sources.”

OMC sources confirmed Tata Steel was pitching for more iron ore supplies. Presently, the steel company is drawing one mtpa from OMC mines under a long-term linkage pact. An official said "Tata Steel has submitted an application for sourcing five mtpa iron ore from OMC. The proposal will go to the allotment committee for scrutiny.’

The Bhushan Steel facility located at Meramandali in Odisha, nearly 150 km from its Kalinganagar greenfield plant, has a nameplate capacity of 5.6 million tonnes per annum (mtpa). Though Bhushan Steel has won the Kalamang iron ore block in competitive auctions in the state, mining has not taken off yet from the block.

Source : Business Standard

voda 3 juli 2018 19:14

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Tata Steel will continue to evaluate, pursue growth opportunities in India - Report

DNA India reported that terming the takeover of Bhushan Steel as "strategic investment", Tata Steel has said it will continue to pursue growth opportunities in India through both the organic and inorganic routes in future. Tata Steel said in its Annual Report 2017-18 said that "The acquisition of Bhushan Steel is a strategic investment which has the potential to enhance Tata Steel's product portfolio and market competitiveness in the near future.”

The company, it said, will continue to evaluate and pursue growth opportunities in India through organic and inorganic options in the future to grow in line with the underlying Indian economy. In addition to the organic growth strategy, Tata Steel also expressed its interest and bid for multiple assets that were put up for sale under the Insolvency and Bankruptcy Code.

It said that "Following a rigorous and transparent process...the company was identified as the highest bidder for the acquisition of controlling interest in Bhushan Steel Ltd.”

In Europe, the company successfully restructured the British Steel Pension Scheme, including closing the scheme for future accruals under the Regulated Apportionment Arrangements, with the approval of the pension regulator in the UK. Tata Steel also entered into a pact with Thyssenkrupp AG in September last year to combine the European steel businesses of both companies and create a leading pan-European steel enterprise.

The proposed joint venture, it said, will focus on driving cost synergies, technology and will have a differentiated product portfolio that will drive future value creation. The process of creating the joint venture involves simultaneous multi-stakeholder consultations, which is currently at an advanced stage, it added. Tata Steel, which emerged as the biggest bidder for Bhushan Steel with a INR 32,500-crore deal in the insolvency process, completed the acquisition of controlling stake of 72.65 per cent in the debt-laden firm on May 18.

Post takeover, Tata Steel had said it will raise INR 16,500 crore through debt instruments to fund INR 32,500 crore acquisition of Bhushan Steel Ltd. The remaining amount will be raised through internal resources, it had said.The bankrupt firm was among the 12 stressed assets the RBI had referred for NCLT proceedings last year.

Source : DNA India

voda 3 juli 2018 19:15

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GMS Market Commentary on Shipbreaking in Week 26 - SEASONAL DIP?

With the summer / monsoon season fully under way across the Indian sub-continent, prices and demand have started to decline across the board for various reasons. While on the one hand, the seasonal labor returning to their home towns due to the constant rains affecting the cutting processes and hampering overall production is the traditional reason for the cooling markets, on the other hand, declining local steel plate prices, currencies and missing cutting permissions have driven demand for tonnage, down this week.

As such, most end Buyers are preferring to temper their purchases as levels and interest slips in anticipation of a potential fourth quarter rally, which has historically been a busy period in the ship recycling industry and this year is expected to be no different, given that owners (particularly in the tanker sector) continue to struggle with dire charter rates and (wet) units seem to fall out of the sky.

A sustained level of scrapping of tanker and offshore fleets will be needed just to aid levels and bring a certain equilibrium back to these sectors in the years ahead – just as dry and container rates have finally bounced back, following a period of sustained recycling in the years gone by.

Supply is expected to persist going forward and sales will continue to take place, often to speculative Cash Buyers who do not have end Buyers lined up but prefer to utilize their available finance streams. As such, as long as the inflow remains at a steady trickle rather than a deluge, prices should remain relatively stable as the markets sail through the monsoons.

Source : GMS Weekly

voda 3 juli 2018 19:16

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Steel & Tube gains waiver from lenders after writedowns

Business Desk reported that Steel & Tube Holdings has obtained a waiver from its banks after writedowns and impairments put it in breach of at least one lending covenant. In May the Lower Hutt-based supplier of steel building products said it expected a loss on an earnings before interest and tax basis of about USD 38 million in the year ended June 30 as a result of costs and impairments of as much as USD 54 million. Steel & Tube reviewed its business under the guidance of a refreshed board and new chief executive Mark Malpass, who started in February.

The review resulted in writedowns from selling the company's plastics business, inventory from its new enterprise resource planning (ERP) system, and other intangibles.

The company "has obtained a waiver from its banking partners for the covenant breach arising as a consequence of the signalled non-trading write-downs and impairments on its FY18 earnings. Steel & Tube confirms that formal documentation on terms satisfactory to the company are now in place."

Separately, Steel & Tube said its 2018 results would include a USD 1.3 million gain on the USD 21 million sale of its property 375 Blenheim Road in Christchurch, which settled last Friday. It hadn't included the gain in the forecast loss it gave last month. The company will lease back the site.

Source : Business Desk

voda 3 juli 2018 19:17

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AISI update on Raw Steel Production in US in Week 26

In the week ending on June 30, 2018, domestic raw steel production was 1,781,000 net tons while the capability utilization rate was 76.0 percent. Production was 1,747,000 net tons in the week ending June 30, 2017 while the capability utilization then was 74.9 percent. The current week production represents a 1.9 percent increase from the same period in the previous year. Production for the week ending June 30, 2018 is up 0.5 percent from the previous week ending June 23, 2018 when production was 1,772,000 net tons and the rate of capability utilization was 75.6 percent.

Adjusted year-to-date production through June 30, 2018 was 45,614,000 net tons, at a capability utilization rate of 75.5 percent. That is up 1.7 percent from the 44,839,000 net tons during the same period last year, when the capability utilization rate was 74.4 percent.

Broken down by districts, here's production for the week ending June 30, 2018 in thousands of net tons: North East: 215; Great Lakes: 653; Midwest: 187; Southern: 652 and Western: 74 for a total of 1781.

Source : Strategic Research Institute

voda 3 juli 2018 19:18

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HBIS to invest EUR 150 million in Serbian steel mill by 2020

See News reported that HBIS Group Serbia Iron & Steel, a subsidiary of China's Hebei Iron & Steel Group, plans to invest EUR 150 million in Serbian steel mill Zelezara Smederevo by 2020. Director Sihai Song has said n ‘The investments will be made in the acquisition of new equipment at the factory, as Zelezara Smederevo needs a new aglo machine and a new stepping furnace. Moreover, HBIS plans to make investments in the reduction of the emissions of greenhouse gases and dust by Zelezara Smederevo.’

The Chinese company has so far invested EUR 158 million euro in the modernisation of the equipment of Zelezara Smederevo

HBIS took over the management and ownership of Zelezara Smederevo in July 2016, three months after the government agreed to sell the steel mill to the Chinese group for EUR 46 million.

Source : See News

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