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voda 4 oktober 2018 16:37

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Arcelor mag van rechter bieden op Essar

Gepubliceerd op 4 okt 2018 om 07:40 | Views: 1.639

ArcelorMittal 16:20
26,97 -0,09 (-0,31%)

NEW DELHI (AFN/BLOOMBERG) - Staalgigant ArcelorMittal mag van de hoogste rechter in India een nieuwe poging doen om de Indiase branchegenoot Essar Steel in te lijven. Ook rivaal NuMetal mag nog een bod uitbrengen.

ArcelorMittal en een consortium van NuMetal en het Russische VTB Capital zijn al geruime tijd verwikkeld in een overnamestrijd om het failliete Essar. Het is de staalbedrijven er alles aan gelegen hun aanwezigheid in groeimarkt India te vergroten.

Een eerder bod van ArcelorMittal samen met Nippon Steel werd afgewezen. Daarom is later een nieuw bod gedaan. Dat bod was naar verluidt ongeveer 420 miljard roepie, destijds ruim 5 miljard euro. ArcelorMittal wilde alleen zeggen dat het bod ruwweg overeenkomt met de in de media genoemde bedragen. NuMetal heeft gezegd bereid te zijn om een vergelijkbaar bod uit te lanceren.

De rechter oordeelde nu dat beide kampen een nieuw bod mogen uitbrengen, mits een deel van de schulden binnen twee weken wordt afgelost. Beide partijen vonden dat de ander geen recht meer had om een nieuw bod uit te brengen.

voda 8 oktober 2018 16:40

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Turkije komt met staalheffingen

ArcelorMittal 16:20
25,54 -0,28 (-1,07%)

ANKARA (AFN/RTR) - De Turkse regering gaat importheffingen op staal invoeren om zo de eigen staalindustrie te beschermen. Dat meldde Ankara aan de Wereldhandelsorganisatie (WTO).

De heffingen van 25 procent moeten ingaan vanaf 17 oktober. Volgens Ankara is er sprake van een ,,vloed'' aan buitenlands staal op de Turkse markt. Dat komt door de tarieven die de Verenigde Staten, de Europese Unie en andere landen hebben ingevoerd op staal van buitenlandse makelij, waardoor meer naar Turkije wordt verscheept.

Uit cijfers van de World Steel Association blijkt dat Turkije tot de tien grootste staalproducenten van de wereld behoort. In 2017 was het land goed voor een productie van 37,5 miljoen ton staal.

voda 9 oktober 2018 16:26

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'Arcelor staakt wellicht jacht op Essar'

Gepubliceerd op 9 okt 2018 om 10:30 | Views: 1.677

ArcelorMittal 16:09
25,72 +0,16 (+0,63%)

AMSTERDAM (AFN/BLOOMBERG) - Staalconcern ArcelorMittal staakt mogelijk zijn poging om de Indiase branchegenoot Essar Steel in de lijven. Bronnen meldden dit aan Indiase media.

ArcelorMittal zou naar verluidt meer dan 600 miljard roepie (7 miljard euro) moeten betalen om Essar in te lijven. Naast het bod op Essar behelst dit bedrag ook de uitstaande schulden van Uttam Galva en KSS Petron. Eerder werd gesproken over een bedrag van ruim 5 miljard euro.

ArcelorMittal en een consortium van NuMetal en het Russische VTB Capital zijn al geruime tijd verwikkeld in een overnamestrijd om het failliete Essar. Het is de staalbedrijven er alles aan gelegen hun aanwezigheid in groeimarkt India te vergroten.

voda 9 oktober 2018 18:59

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Turkey to impose import quotas on steel from October 17 - WTO

World Trade Organization announced that Turkey will introduce quotas on the amount of steel it imports from October 17, with an additional 25 percent duty on any imports above the quotas. It said it had begun investigating the case for emergency safeguard measures in April, after US President Donald Trump imposed a 25 percent tariff on steel. That, and subsequent trade restrictions in other countries, including the European Union, India and Indonesia, had diverted steel toward Turkey. Turkey filed a complaint against steep US duties on imported metals at the World Trade Organization (WTO) in August. In its letter to the WTO, Turkey charged that Washington broke free trade rules when it initially imposed tariffs of 25 percent on steel and 10 percent on aluminum imports in June for most countries, with a few exceptions such as Argentina and Australia and that the doubling of these rates amount to an additional violation

Under WTO rules, Ankara and Washington now have 60 days to settle the dispute through negotiations. If they fail, the WTO may issue a ruling on the matter.

Trump announced in early August that he was doubling tariffs on Turkish steel and aluminum to 50 and 20 percent, respectively, amid growing tensions between Washington and Ankara over a US terror-linked pastor under house arrest in Turkey.

Source : Strategic Research Institute

voda 9 oktober 2018 18:59

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Tata Steel announces Q2 production and sales numbers

Tata Steel announced that its consolidated steel output remained almost flat at 7.33 million tonne during the Q2 of 2018-19 as against7.26 million tonnes in July-September, 2017-18. Sales during the reported quarter also came down to 7.22 million tonne from 7.38 million tonne down by 2% YoY. Tata Steel India produced 3.27 million tonne in July-September 2018 as against 3.20 million tonne during the same period a year ago. Its sales were at 3.18 million tonne as compared to 3.08 million tonne in July-September 2017.

Bhushan Steel Ltd (BSL), which was recently acquired by Tata Steel, reported over 23 per cent jump in its output at 1.05 million tonne for the reported quarter as compared to 0.85 million tonne in the year-ago period. BSL’s sales also rose 10 per cent to 1.14 million tonne from 1.03 million tonne in the year-ago quarter.

Tata Steel Europe’s output fell to 2.46 million tonne from 2.60 million tonne in September quarter of 2017-18. In Europe, the sales also dipped to 2.25 million tonne from 2.60 million tonne in July-September 2017.

Tata Steel South-East Asia reported an output of 0.55 million tonne as against 0.61 million tonne in the year-ago period. The sales were at 0.65 million tonne as compared to 0.67 million tonne in September quarter of 2017-18.

Source : Strategic Research Institute

voda 9 oktober 2018 19:00

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JSW Utkal Steel to begin work in 2019-20

Business Standard reported that JSW Steel aims to begin construction activity on a 12 million tonne mega steel plant proposed in Odisha's coastal area in the next financial year. The steel plant will be built in a staggered manner. In the first phase, a blast furnace with a 5 million tonne capacity will be commissioned. A senior JSW Steel official said “We are committed to the Odisha steel plant. The project will be developed in phases. A consultant has been roped in to decide on the product mix of the plant. Work on the project will begin after we obtain all clearances.”

JSW Steel has pledged INR 550 billion investment on the mega steel plant and attendant infrastructure - 900 Mw captive power plant, 32 million tonne pellet unit and a slurry pipeline to transport iron ore concentrates from Joda to the project site proposed near Paradip. JSW Steel has formed a wholly owned subsidiary- JSW Utkal Steel Ltd to fast track the implementation of its 12 million tonne crude steel plant and other inter-linked projects in Odisha.

The JSW Steel project will be built at a site near Paradip abandoned by Posco India. Odisha Industrial Infrastructure Development Corporation Ltd (Idco), the state-owned land agency had acquired 2700 acres of land for the Posco project. Out of this, 1700 acres was transferred to Posco India. In the first phase, JSW Steel will develop 2900 acres of land. The company in its original proposal submitted to the state government, had asked for 4500 acres.

Source : Business Standard

voda 9 oktober 2018 19:00

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Thai steel makers demand dumping measures - FTI

Bangkok Post reported that the Federation of Thai Industries (FTI) is calling on die government to speed up new measures to protect local steel makers after seeing Chinese steel dumping become a serious problem. The reaction came after China started its new tax rebate structure for up to 397 exports, including 85 steel items such as cold-rolled iron plate, colour-coated steel, steel pipe, nails and iron scaffold. China's new tax rebate for steel exports has increased from 0% to 9% and 9% to 13%, depending on the steel products. The new structure has been effective since September 15.

Wikrom Vajragupta, chairman of FTIs iron and steel industry club, said "These measures are leading to unfair export conditions and encouraging Chinese steel traders to increase their shipment volume to other countries to enjoy the tax rebates. Many of those steel products are dumped in Thailand and local steel makers are concerned about this issue because it is destroying the country’s supply chain."

The club is teaming up with the Iron and Steel Institute of Thailand as both parties agree the government should accelerate the country’s anti-dumping measures to protect the local steel industry.

Source : Bangkok Post

voda 9 oktober 2018 19:01

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GMS Market Commentary on Shipbreaking in Week 40 - DRAMATIC TURNS!

The Indian currency registered some dramatic declines this week, pushing the envelope well in excess of INR 74 against the US Dollar, in addition to some alarming slides in local steel plate prices, both of which ensured it was a terrible week for the Indian market. The declining fundamentals also raised the level of caution amongst Ship Owners and Cash Buyers who were looking to conclude their units into India, especially after the recent blockbuster USD 500/LDT fixture seen here last week.

As expected, on the back of the container sale over the magical USD 500/LDT mark (which seemed almost too good to be true at the time), a flurry of vessels have been introduced into the market this week. However, it hardly seems feasible to achieve a repeat of this deal today, given the extreme volatility and turbulence that the Indian market has continued to display on a daily / weekly basis, despite being the favored container destination.

Meanwhile, supply is expected to firm up during the fourth quarter of the year, with the tanker market still in the doldrums and the container market also starting to show signs of fatigue. Since few vessels have graced the various subcontinent waterfronts over the summer months, the capacity to absorb this increased flow of tonnage certainly seems to be there.

Owners may only have to temper their expectations of receiving offers in the mid-to-high USD 400s/LDT as only one sale at USD 500/LDT has been recorded and this level seems far from achievable at present.

Pakistan looks set to finally return to the action at some decent rates as news of several local VLCC sales from various Cash Buyer hands emerged this week. Moreover, given that there finally is clarity on permissions to cut tankers and there are no new duties imposed via the ‘mini’ budget; expect the Gadani market to be the location to watch in the month(s) ahead.

Source : GMS

voda 9 oktober 2018 19:03

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Moody’s revises outlook on thyssenkrupp's Ba2 ratings

Moody's Investors Service has changed to negative from stable the outlook on the Ba2 corporate family rating and Ba2-PD probability of default rating of German steel and capital goods manufacturer thyssenkrupp AG. At the same time, Moody's has affirmed these ratings. Concurrently, the senior unsecured debt of thyssenkrupp AG was affirmed at Ba2, including the (P)Ba2 debt issuance program rating. Moody's has also affirmed the short-term ratings of tk at NP/(P)NP. The rating action follows tk's announcement of its plan to separate the group via a spin-off into two independent listed companies with a different but clearer industrial focus and direct access to the capital market. While thyssenkrupp Materials AG (former thyssenkrupp AG) will combine the group's Material Services business, the 50/50 joint venture with Tata Steel, the slewing bearings and forging activities (to be spun-off from the Components Technology division) and the marine systems business, thyssenkrupp Industrials AG will consist of the elevator, automotive supplier and industrial solutions businesses. The plan foresees that existing tk shareholders will hold two shares, one of each company, thereby holding 100% of TK Materials and a clear majority share of TK Industrials. TK Materials will initially hold a minority stake in TK Industrials to ensure an adequate starting capital base, which management intends to sell to the open market at a later point in time.

The outlook change to negative reflects Moody's view that tk's business profile will weaken once the transaction is closed and the current tk will become - TK Materials. It will be less diversified than the group in its existing form and will exhibit a greater exposure to cyclical end-markets, hence be more vulnerable to economic shocks but also volatile steel prices. This is shown by the group's future revenue base of around EUR18 billion vs currently EUR42 billion, albeit still sizeable, of which some 75% will be generated by the Material Services business, which has very low margins and exhibits highly volatile cash flow generation. Although management expects TK Materials to achieve a (company-adjusted) EBIT margin of around 3%, this does not capture a still sizeable corporate cost base that Moody's expects will continue to drag on the group's margins in the foreseeable future.

The negative outlook further assumes that tk's leverage will increase to higher levels than the agency had previously projected for the existing combined group. Whilst tk's leverage was forecasted to increase towards 5-5.5x Moody's-adjusted gross debt/EBITDA (or 3-3.3x on a net debt basis), which is already high for the Ba2 rating category, Moody's doubts that such levels might be achieved by TK Materials. As the group states an investment grade rating for its TK Industrials business, tk's leverage (future TK Materials) will likely exceed Moody's current guidance for a Ba2 rating, once debt is allocated between the two new entities. tk states that it targets a Ba rating for the new TK Materials entity.

Although Moody's understands that management aims to put in place separate appropriate financing structures for both businesses, the final debt allocation as well as the amount of relevant debt adjustments (e.g. remaining pensions excluding the Steel business, leases, factoring) remain uncertain. Moody's would also need to perform a deeper liquidity analysis of TK Materials once more details are available, which will be critical given the group's expected highly volatile cash flow generation and impact of working capital movements.

The negative outlook indicates that Moody's believes that the future TK Materials could be weaker rated than tk's current Ba2. The proposed transaction is subject to approval at the Annual Shareholders' Meeting and will take 12-18 months to close. Once the group has provided more details on its planned capital structure, Moody's will review the impact on the credit rating, however, this is unlikely to happen in the short-term.

Source : Strategic Research Institute

voda 9 oktober 2018 19:04

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Usha Martin union raises concern over irregular payment of salaries at Ranchi plant

PTI reported that a union of Usha Martin has raised concerns about irregular payment of salaries and sought government’s intervention for sale of the company’s wire rope manufacturing facility in Jharkhand to Tata Steel. Hind Mazdoor Sabha affiliate Engineering Labour Union of Usha Martin Ltd has written a letter to Jharkhand Chief Minister Raghubar Das over the issue. He wrote “We the workers of Usha Martin Ltd, Tatisilwai, Ranchi (Jharkhand) want to draw your attention towards the exploitation meted out to the workers of the company by the management of the company...From the past two to three years the company is not paying the salaries to its workers on time.”

The union has also urged the government that company should be acquired by the Tata Steel so that the future of the employees is secure.

Usha Martin Ranchi facility employs more than 1,700 people. Tata Steel, in September, said it has executed definitive agreements for acquisition of the steel business of UML through a slump sale on a going concern basis. The deal is expected to be completed in 6-9 months.

Source : PTI

voda 9 oktober 2018 19:05

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New additions to the SSAB steel range

Pressure vessel and shipbuilding steels according to European and US standards now also included. SSAB Multisteel covers a number of European and US standards for pressure vessel, shipbuilding and structural steel plate in the 260-355 MPa yield strength range. This versatility allows for streamlined stock while still satisfying customer needs within a wide range of applications.

SSAB Multisteel has a very narrow window for dimensional tolerances, chemical composition and mechanical properties. This results in reliable workshop performance every time.

Excellent welding performance is ensured by a CEV value that is lower than standard for most grades.

Bending properties are guaranteed to be better than what is stated in the Euronorm requirements. The consistent yield strength and thickness accuracy from batch to batch make for predictable and repetitive spring back. Minimum bending radius is 2 x thickness in all directions.

Source : Strategic Research Institute

voda 9 oktober 2018 19:05

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MMK to choose contractors through B2B Center e-trade platform

Magnitogorsk Iron and Steel Works has decided to use the electronic trading platform B2B Center to choose equipment repair services. This will ensure the openness of tender procedures, as well as automating the collection of proposals from potential contractors and expanding the customer base. Currently MMK uses contractors for repairs on boilers of power grids, generators, steam lines and rolling mills. Contractors are also used to modernise cooling systems and to install new structures and equipment on the site.

Pavel Vasev, Head of Procurement at MMK, said “We have successfully tested the capabilities and functionality of B2B Center through more than 100 purchases. Each piece of equipment has its own requirements when it comes to repair, so it is important for us to choose the best contractors in the market. An independent platform attracts potential contractors, creates equal competitive conditions for them and also helps to prepare the documentation. The next step will be to integrate our information system with that of B2B Center in order to streamline the process and make it more convenient for our specialists."

The agreement was signed during the meeting of the Public Council of the 'Competitive Procurement Leader' Awards, established by B2B-Center.

Source : Strategic Research Institute

voda 9 oktober 2018 19:06

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Severstal invests in the Chrysalix RoboValley fund, specializing in innovations for energy-intensive industries

Severstal announced that Severstal Ventures, which was set up by Severstal to support venture projects developing new production technologies and materials, has invested in Chrysalix RBV GP Ltd (Chrysalix RoboValley). Chrysalix RoboValley was set up to invest in intelligent systems and automation platforms, including areas such as artificial intelligence (AI), robotics, machine learning, Internet of things (IoT), as well as the development of new materials and special technologies that will enable the digital transformation of large industrial companies. According to Chrysalix RoboValley, the fund's main investments will be in projects developed in Europe, North America and Asia.

Chrysalix RoboValley is managed by Chrysalix Venture Capital, which since 2001 has been investing in innovative projects for energy-intensive industries such as metallurgy, oil and gas, transportation and chemical.

Andrey Laptev, Director for Business Development and Corporate Venture Projects, AO Severstal Management said “We are pleased to be participating in the new Chrysalix Venture Capital fund’s first round along with other corporations. These kinds of initiatives are important for the sustainable growth of our businesses as they give us priority access to the best new technologies in the world. At Severstal, we are constantly working to identify and introduce breakthrough technologies that will ensure we maintain our position as the lowest cost metal producer, by further optimizing our production processes. We are also focused on developing unique products that will help us to grow our market share in certain sectors.”

Source : Strategic Research Institute

voda 9 oktober 2018 19:10

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India to overtake China as the world’s largest importer of metallurgical coal by 2020 - Australia’s DIIS

Australian Department of Industry Innovation and Science in latest Quarterly Report said that "Metallurgical coal prices have been supported by strong import demand from both China and India. Some further near-term support is expected amidst persistently high steel margins in China. Near-term support expected for the metallurgical coal price The premium hard coking coal (HCC) spot price (FOB Australia) averaged an estimated USD 187 a tonne in the September quarter, down by 16 per cent quarter-on-quarter and 2.0 per cent year-on-year. Prices earlier in the quarter were weighed down by growth in global exports, but strong import demand from both China and India drove a subsequent rebound in the price. Some ongoing near-term price support is expected. China's imports of metallurgical coal are expected to remain elevated over the next couple of months as steel margins remain high, and as steel producers bring forward production before the winter production cuts. Beyond 2018, the premium HCC spot price is forecast to decline from an average of USD 197 a tonne in 2018 to USD 157 a tonne in 2019 and USD 145 a tonne in 2020, weighed down by softening demand from China and supply growth from a number of new projects around the world. Nevertheless, with strong demand growth expected from India, the price is expected to remain well above the lows of 2016."

World export trade in metallurgical coal grew by a solid 4.5 per cent in 2017 to 327 million tonnes, driven by firm economic growth and consequently strong growth in steel output around the world. However, the momentum that has driven the upswing in global economic activity appears to have peaked, with leading indicators, such as world industrial production, pointing to slowing growth in the future. Growth in world metallurgical coal trade is forecast to slow to an annual average of 1.8 per cent over the outlook period.

India is forecast to be the key source of import growth, driven by the ongoing expansion of its domestic steel sector. While Australia will comfortably remain the largest exporter of metallurgical coal, accounting for a forecast 57 per cent of the seaborne market in 2020, this represents a decline from 60 per cent in 2016. Other countries, including Canada, Russia and Mozambique, are expected to increase their exports and market share.

China’s metallurgical coal imports expected to drift lower In line with expectations, China’s metallurgical coal imports rebounded after a slow start to the year, growing by an estimated 23 per cent year-on-year from May to July 2018. Strong steel margins have driven steel output to record highs. At the same time, domestic production of coal has declined, driving demand for imports higher. China’s imports of metallurgical coal are expected to remain elevated over the next couple of months, with steel producers expected to bring forward production ahead of the winter production cuts that will begin in November. However, the enforced production cuts are bigger in coverage and scale than the previous year’s, and are thus likely to have more of an impact on net steel production and on demand for metallurgical coal. The trajectory of China’s imports largely depends on domestic production, which accounts for around 90 per cent of total metallurgical coal consumption. If domestic output remains lower than expected, this could have a positive effect on import demand. China’s imports of metallurgical coal are forecast to drift lower over the outlook period, as steel production gradually declines and as safety and environmental regulations ease and domestic coal output picks up.
India expected to become the largest metallurgical coal importer by 2020 India’s imports of metallurgical coal grew by 26 per cent year-on-year to 28 million tonnes in the first half of 2018. Growth in metallurgical coal imports has been driven by the ongoing expansion of India's steel sector, with steel production increasing by 8.8 per cent over the same period.

voda 9 oktober 2018 19:11

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Deel 2:

Australia’s share of India’s metallurgical coal imports has declined from around 90 per cent in the March quarter of 2017 (just before Cyclone Debbie) to 75 per cent in the June quarter of 2018. India’s steel mills have increasingly turning to the United States and Canada as an alternative source of supply, as a result of high prices and disruptions to Australian supply, particularly after Cyclone Debbie in 2017. Import growth from the United States is expected to soften as prices decline and production falls. India is forecast to overtake China as the world’s largest importer of metallurgical coal by 2020, with India’s imports set to grow steadily over the outlook period. India has limited domestic reserves of metallurgical coal, and will need to increase imports to support the rapid growth of its domestic steel industry.

Japan’s imports of metallurgical coal to grow modestly. Japan's metallurgical coal imports have been broadly steady year-on-year in the June quarter of 2018, after a decline in the March quarter. Stabilising imports reflect stronger growth in steel production, which is expected to continue over the outlook period, supported by robust domestic demand from the construction sector.

Marginal decline forecast for South Korea’s metallurgical coal imports South Korea’s imports of metallurgical coal declined by 5.8 per cent year-on-year in year to July, and imports are forecast to remain subdued over the outlook period. South Korea’s steel sector has been affected by soft domestic demand and declining exports, which have been subject to a range of anti-dumping and protectionist measures implemented by the United States, European Union, and Canada.

Resilient prices have led to a lift in supply through increased production, the restart of idled operations, and decisions to proceed with the development of new mines around the world, including in Australia.

Russia and Mozambique’s exports are forecast to grow While Russia’s metallurgical coal exports have remained broadly steady year-on-year, they are forecast to increase over the outlook period, as projects in the east — where there are substantial untapped deposits — are developed. Notably, the Elga mine is expected to gradually ramp up and produce over 28 million tonnes annually at full capacity.

Exports from Mozambique have grown substantially, although from a low base, as the Moatize mine reached record production in the June quarter of 2018. Exports are forecast to grow, as the mine continues to ramp up to a target of 22 million tonnes annually by 2022. Exports will also be supported by the development of the Nacala Logistics Corridor, which will reduce transport costs from mine to port.

Strong growth from North America, but US exports forecast to decline Exports from Canada increased by 9.6 per cent year-on-year to 15 million tonnes in the first half of 2018, driven by strong demand from India and, to a lesser extent, Japan and South Korea. Canada's export growth is forecast to slow as prices decline, with exports forecast to grow at an average annual rate of 1.5 per cent in 2019 and 2020.

Metallurgical coal exports from the United States have steadily increased, growing by 24 per cent to 29 million tonnes in the first half of 2018. The growth has been primarily driven by a surge in exports to India, which more than doubled over the same period. Exports to China and Japan have also grown substantially.

India is forecast to overtake China as the world’s largest importer of metallurgical coal by 2020, with India’s imports set to grow steadily over the outlook period. India has limited domestic reserves of metallurgical coal, and will need to increase imports to support the rapid growth of its domestic steel industry.

Voor cijfers, zie bijlage.

Source : Strategic Research Institute

Bijlage:

voda 9 oktober 2018 19:21

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Metalloinvest named the leader in digital transformation

Metalloinvest has won the annual SAP Value Award prize in the category “Leader of digital transformation”. The SAP Value Award is an annual prize for clients from Russia and the CIS, who are awarded for taking part in proven high-value projects. This SAP prize aims to celebrate companies and people who are prepared to transform and boost the efficiency of the business to be able to compete effectively on the global markets.

Metalloinvest is implementing a complex programme of digital transformation based on Industry 4.0, with the main objectives being to improve business-process efficiency, increase the accuracy of planning and reduce expenditures.

As part of the first wave of Industry 4.0, an integrated financial and business management system using the SAP S/4HANA business suite was launched on 1 July 2018 at Lebedinsky GOK and Mikhailovsky GOK. The platform, which unifies more than 4,000 users in one information system, has replaced more than 100 production and management systems. It was implemented with the support of the SAP Digital Business Services team, while Accenture was the main contractor in the project.

Metalloinvest began the second wave of Industry 4.0 on 1 October 2018 at OEMK and Ural Steel. The second stage will be completed in mid-2019.

Metalloinvest’s digital transformation aims to change almost all the Company’s business processes, and covers 18 functional areas, such as production management, purchases and reserves, technical services and repairs, sales, personnel management, contracts, volume planning, budgeting and much more.

This will enable the implementation of the unified information platform for all the Company’s enterprises: instead of 100 local systems, all functioning areas will be combined on one unified ERP system. More than 30,000 organisational changes have taken place since the beginning of the implementation period. The transformation has also resulted in changes to Metalloinvest’s organisational structure, processes and regulations.

Source : Strategic Research Institute

Bijlage:

voda 9 oktober 2018 19:23

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AISI update on Raw Steel Production in US in week 40

AISI announced that in the week ending on October 6, 2018, domestic raw steel production in US was 1,851,000 net tons while the capability utilization rate was 79.0 percent. Production was 1,706,000 net tons in the week ending October 6, 2017 while the capability utilization then was 73.2 percent. The current week production represents a 8.5 percent increase from the same period in the previous year. Production for the week ending October 6, 2018 is down 0.3 percent from the previous week ending September 29, 2018 when production was 1,856,000 net tons and the rate of capability utilization was 79.2 percent.

Adjusted year-to-date production through October 6, 2018 was 72,320,000 net tons, at a capability utilization rate of 77.5 percent. That is up 4.6 percent from the 69,131,000 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 October 6, 2018 in thousands of net tons: North East: 216; Great Lakes: 646; Midwest: 196; Southern: 720 and Western: 73 for a total of 1851.

Source : Strategic Research Institute

voda 9 oktober 2018 19:39

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GMS Market Commentary on Shipbreaking in Bangladesh in Week 40 - LOSING VLS!

Bangladesh remains the ‘market of the moment’ despite some strong moves by Pakistan this week particularly on the largest LDT units available. At least three VLCC sales have been confirmed into Gadani in the last few weeks and that too at levels above what Bangladesh would pay. However, on the more regular / conventional lower LDT vessels; Chittagong remains the market of the moment, especially for geographically-suited units.

This may be because many Bangladeshi Buyers have struggled with their L/C facilities this year and the only few capable Buyers open to take-on VLCC sized units may have finally been pulled off the board with 5 such vessels having beached over recent tides.

Nevertheless, with an increased tonnage supply becoming evident this week (and a number of green vessels being sold into India over the recent past), anticipate the supply to be split up between all subcontinent markets this quarter.

Source : Strategic Research Institute

voda 9 oktober 2018 19:40

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India's iron ore imports zoom 190pct in Apr-Aug 2018 - PMAI

Business Standard reported that iron ore imports into the country zoomed 190 per cent to 6.34 million tonnes during April-August, the first five months of this financial year. Data from the Pellet Manufacturers Association of India (PMAI) show a projection of over 12 million tonnes for the full year. In 2017-18, ore import was 8.6 million tonnes, itself 48 per cent higher than in 2016-17. Imports are on an upswing since steel plants on the coast have shown an increasing tendency to import the key ingredient. Importing is the cheaper option for such units compared to buying from the domestic market.

A senior executive with a steel company said that "Price hikes (of ore) in the domestic market have been exorbitant in the past three to four months. Importing of ore is viable for operations."

Between July and September, prices of iron ore fines in Odisha, the largest producing state, rose 80 per cent, while prices of lumps moved up 29 per cent. Government-owned NMDC, the single biggest producer, raised prices twice last month. In the latest instance, it raised the price of lumps by 8.4 per cent to INR 3,850 a tonne and that of fines by 6.4 per cent to INR 3,310 a tonne. The company ascribed this to less production due to the rains and robust demand, with firming up of steel and sponge iron prices.

The domestic production of iron ore is also rising. The country produced 210 million tonnes in 2017-18. In FY19, the output is tipped to rise by two per cent to five per cent, helped by stable demand from the automobile and infrastructure industries, according to a report by CARE Ratings.

Source : Business Standard

voda 10 oktober 2018 15:33

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JSW wants to bid for Essar Steel on its own

Indian Express reported that JSW Steel, which had earlier bid together with Numetal, may go solo in the race for bankrupt steelmaker Essar Steel. MV Seshagiri Rao, joint managing director, JSW Steel, said that the company was seeking legal opinion on whether it would be eligible to bid for Essar Steel together with ArcelorMittal, Numetal and Vedanta. He said “It depends upon the legal opinion which we get and the views of the committee of creditors and the resolution professional (RP). If they take a positive view, then we are open to look at it. We are seeking a legal opinion and based on that opinion we will take a call.”

He added “At that time when the second round of bidding was happening JSW Steel was looking at submitting the bid alone. We were not permitted. So, we have to see what view CoC and RP will take in the light of the Supreme Court judgment.”

Given the Supreme Court has already outlined the way forward after hearing all the arguments under the Insolvency and Bankruptcy Code (IBC), it would appear the steelmaker must approach the apex court for permission to throw its hat in the ring.

Source : Indian Express

Vertraagd	31 mei 2024 17:35
Koers	24,160
Verschil	+0,250 (+1,05%)
Hoog	24,180
Laag	23,760
Volume	6.882.105
Volume gemiddeld	2.614.078
Volume gisteren	4.317.263

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

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