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voda 15 januari 2020 16:13

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US DoC Amends Duties on CTL Steel Plates Imports from Belgium and Italy

The US Department of Commerce has lowered the final antidumping duty rates assigned to producers and exporters of steel cut-to-length plate from Belgium and Italy. In a review of the period spanning November 14, 2016 through April 30, 2018, Commerce found that producers and exporters of CTL plate from the two countries made sales in the US at less than normal value. Industeel Belgium was assigned a final weighted average dumping margin of 4.75%, while Belgium's NLMK Clabecq was assigned a final dumping margin of 16.14%. All other producers and exporters of CTL plate from Belgium were assigned a final dumping margin of 13.53%. Imports of CTL plate from Belgium were previously subject to final dumping margins of 5.4%-51.78%. NLMK Verona was assigned a final weighted-average dumping margin of 1.44%, while Officine Tecnosider received a final dumping rate of 1.63%. All other plate producers and exporters from Italy were assigned a final rate of 1.57%. Italy's CTL plate exports to the US were previously subject to final dumping margins of 6.08%-22.19%.

Commerce, in a separate decision, also issued lower final subsidy rates for some imports of CTL plate from South Korea after determining that POSCO received net countervailable subsidies during the period spanning April 4, 2017 through December 31, 2017. As a result, POSCO and other CTL producers from South Korea were assigned a final subsidy margin of 0.5%. POSCO's plate imports were previously subject to a countervailing duty of 3.72%. An administrative review involving South Korea's Hyundai Steel was rescinded as it was certified the company had made no shipments during the review period.

Source : Strategic Research Institute

voda 15 januari 2020 16:14

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JSPL DRI Plant Resumes Operations in Angul

Jindal Steel and Power Ltd's said that 1.8 million tonnes per annum direct reduced iron plant based on coal gasification process, which was not operational for long due to scarcity of coal, has resumed operations in Angul. JSPL MD Mr VR Sharma said "Our CGP and DRI plants are again working on the full potential on purchased coal and matching the vision of Prime Minister Narendra Modi, who invited gasification technology suppliers to set up environment-friendly plants in India based on swadeshi coal. This is a model plant for the country and its success depends upon the regular availability of coal. I am confident this plant will inspire others and attract more investments. We are targetting an additional production run-rate of 1.5 million tonnes per year of steel in FY20-21 through CGP and DRI route.”

The plant was set up to ensure availability of chemical and thermal energy required to produce DRI at an affordable price to reduce the environmental impact of coal in the long run. The CGP converts high-ash grade coal into synthesis gas. It is the first plant of its kind in the world where syngas is used in making DRI. The syngas has replaced the costlier natural gas being used by other DRI manufacturers across the globe.

Source : Strategic Research Institute

voda 15 januari 2020 16:14

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3 Iranian Firms ink MoU to Setup Plant for Iron Ore Concentrate Recovery

Financial Tribune reported that a memorandum of understanding to establish a 1 million tonnes per year iron ore concentrate recovery from residues was signed on by Golgohar Mining and Industrial Company, Gohar Ravesh Sirjan Company and Ronak Engineering Company. All the stages of the project, organized by Golgohar Mining and Industrial Company, will be carried out in its entirety by domestic firms, namely design, supply, establishment and implementation. Ronak Engineering Company is in charge of designing and engineering the production line, while Gohar Ravesh Sirjan Company is responsible for procuring and installing the equipment.

Equipment will be purchased from domestic manufacturers and as predicted, at least EUR 10 million worth of foreign currency will be saved once the agreement is implemented.

Source : Financial Tribune

voda 15 januari 2020 16:26

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US Steel Highlights Safety Performance in 2019

United States Steel Corporation President and Chief Executive Officer Mr David B Burritt announced several highlights of the company’s 2019 safety performance. Highlights of US Steel’s 2019 safety performance include exceptional year-over-year improvements as well as an internal record in its Days Away From Work case rate. The company finished the year with an OSHA Days Away rate of 0.10, which is seven times better that the industry average reported by the US Bureau of Labor Statistics. Notably, US Steel’s Tubular Operations and US Steel Košice each completed the year with zero Days Away From Work cases, while other facilities substantially improved their year-over-year performance to exceed safety targets. US Steel also improved its Total OSHA Recordable injury rate, which was nearly three times better than the BLS industry average of 2.7.

Mr Burritt said “US Steel coined the term ‘Safety First’ in 1912, and safety remains our primary core value today. Every employee who works in one of our facilities has the right to return home safely at the end of every day, and I am grateful to all of our employees for the extraordinary safety performance in 2019. I would like to thank the United Steelworkers for their leadership in this effort, which brings us ever closer to achieving our ultimate goal of zero injuries companywide.”

Source : Strategic Research Institute

voda 15 januari 2020 16:27

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5 Workers Burnt in Sheema Steel Mills in Chittagong

The Tribune reported that 5 workers sustained burn injuries in an explosion at a Sheema Steel Mills Ltd at Banur Bazar in Sitakunda upazila of Chittagong. Police said “The explosion took place around 11:30am while the workers were melting iron in a furnace. Melted iron sprang out of the furnace and fell on the workers following the blast, leaving them injured.”

Being rescued by co workers, they were taken to a private hospital in Chittagong.

This is third incident of explosion in the mill. On June 15, 2010, a worker was killed while 10 others were injured in a furnace explosion at the mill. Nine workers suffered burn injuries in another explosion in 2017.

Source : The Tribune

voda 15 januari 2020 16:27

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16 Steel Plants to Add 19 Million Tonne Steel Capacity in Iran

Iranian media IRNA reported that Iran has defined 16 development projects in the steel sector which are aimed to boost the country’s output of steel products by 19 million tonnes in a course of five years. These projects are for constructing production units each with the capacity of 600,000 tonnes, while some other projects have been also defined to set up some units with under 500,000 tonnes capacity that together will add 19.1 million tonnes to the country’s annual steel products output

Iran’s Industry, Mining and Trade Minister Mr Reza Rahmani said the country has achieved a proper self-reliance in steel industry. He said “Steel industry is one of the industries in which some good investment has been made and today it has become a production advantage.”

Iran’s annual crude steel production is planned to rise to 30 million tonnes in the current Iranian calendar year (ends on March 19, 2020) from 25 million tonnes in the past year. Iran’s annual steel production is planned to reach 45 million tonnes by the Iranian calendar year 1400 (March 2021-March 2022).

Source : IRNA

voda 15 januari 2020 16:28

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Tata Steel BSL Reports October December Quarter Results

Tata Steel BSL has reported widening of consolidated net loss to INR 501.5 crore for the quarter ended December 31. The company had posted a consolidated net loss of INR 239.6 crore in the year-ago period, Tata Steel BSL said in a filing to the BSE.

However, its consolidated income increased to INR 5,053.4 crore in the October-December 2019 period, compared with INR 4,922.7 crore a year ago.

Source : Strategic Research Institute

voda 15 januari 2020 16:28

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AISI Update on Raw Steel Production in US in Week 02 of 2020

AISI reported that in the week ending on January 11, 2020, domestic raw steel production in UD was 1,923,000 net tons while the capability utilization rate was 82.5 percent. Production was 1,871,000 net tons in the week ending January 11, 2019 while the capability utilization then was 80.4 percent. The current week production represents a 2.8 percent increase from the same period in the previous year. Production for the week ending January 11, 2020 is up 1.3 percent from the previous week ending January 4, 2020 when production was 1,898,000 net tons and the rate of capability utilization was 82.0 percent.

Adjusted year-to-date production through January 11, 2020 was 3,008,000 net tons, at a capability utilization rate of 82.1 percent. That is up 2.3 percent from the 2,941,000 net tons during the same period last year, when the capability utilization rate was 80.4 percent.

Broken down by districts, here's production for the week ending January 11, 2020 in thousands of net tons: North East: 211; Great Lakes: 677; Midwest: 214; Southern: 721 and Western: 100 for a total of 1923.

Source : Strategic Research Institute

voda 15 januari 2020 16:29

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Salzgitter Group adjusts Forecast for Financial Year 2019

As part of preparing the consolidated financial statements for the financial year 2019, Salzgitter AG will include non-recurring, non-cash writedowns amounting to almost EUR 200 million. It said “These writedowns are largely the result of current economic and political framework conditions and the expectations derived from these conditions for the short-to medium-term development in the earnings of a number of Group companies. Impairment will be carried out in the following business units: Strip Steel (EUR 100 million), Plate / Section Steel (EUR 50 million) and Mannesmann (EUR 40 million), as well as at Salzgitter Automotive Engineering GmbH & Co. KG. This measure will positively impact the consolidated result of future financial years in dimensions of around EUR 25 million pa.”

Salzgitter said “Taking account of this measure, EUR 141 million in risk provisioning for the mutually agreed end to the anti-trust proceedings, as well as restructuring provisions of around EUR 65 million for the implementation of the “FitStructure 2.0” streamlining program, we now anticipate a pre-tax loss of between EUR 250 million and EUR 280 million for the financial year 2019 (previously: a pre-tax loss in the mid-double-digit million euro range). Our original forecast for a pre-tax profit generated from operations (of between EUR 125 million and EUR 175 million) is therefore affirmed.”

Salzgitter added “The many economic and political uncertainties, including escalations of the kind seen recently in the Middle East, are likely to accompany us in the new year as well. Starting from a currently low level at present, we are seeing stabilizing tendencies on the European steel market at present that should be reflected in rising results over the course of the year. Against this backdrop, we anticipate a pre-tax result approaching breakeven in the current financial year 2020.”

Source : Strategic Research Institute

voda 15 januari 2020 16:30

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US ITC Finds Injury in Steel Threaded Rod Imports from Taiwan

The United States International Trade Commission determined that a US industry is materially injured by reason of imports of carbon and alloy steel threaded rod from Taiwan that the US Department of Commerce has determined are sold in the United States at less than fair value. As a result of the USITC’s affirmative determination, Commerce will issue an antidumping duty order on imports of this product from Taiwan.

Threaded rod is generally threaded along its entire length and is produced from low carbon, medium carbon, or alloy steel wire rod or bar. It is used primarily in commercial (non-residential) construction to suspend electrical conduits; pipes for plumbing; heating, ventilation, and air-conditioning ductwork; and sprinkler systems for fire protection, among other applications. Threaded rod can also be used as a headless screw in general fastener applications or for bolting together pipe joints.

Status of Proceedings:
1. Type of investigation: Final phase antidumping duty investigation.
2. Petitioner: Vulcan Threaded Products, Inc., Pelham, AL.
3. USITC Institution Date: Thursday, February 21, 2019.
4. USITC Hearing Date: Tuesday, October 15, 2019.
5. USITC Vote Date: Friday, January 10, 2020.
6. USITC Notification to Commerce Date: Thursday, January 23, 2020.

US Industry in 2018
1. Number of U.S. producers: 10.
2. Location of producers’ plants: Alabama, California, Colorado, Indiana, Louisiana, Ohio, Pennsylvania, and Texas.
3. Production and related workers: 330.
4. U.S. producers’ U.S. shipments: $122.6 million.
5. Apparent U.S. consumption: $443.9 million.
6. Ratio of subject imports to apparent U.S. consumption: 48.8 percent.

U.S. Imports in 2018:
1. Subject imports: $216.5 million.
2. Nonsubject imports: $104.7 million.
3. Leading import sources: China, India, Taiwan, and Thailand.

Source : Strategic Research Institute

voda 15 januari 2020 16:31

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Hannibal Industries Adds Powder Coating Paint Line at Los Angeles

Steel pallet rack manufacturers Hannibal Industries has added second custom powder-coating paint line to its manufacturing in facility in Los Angeles, greatly increasing its production capabilities. The new powder-coating paint line includes the most recent technology available, which allows Hannibal to more quickly rotate projects. These benefits made the decision to purchase a new system for its west coast facility a part of its strategy for expanding its customer base in late 2019 and early 2020.

Hannibal Industries executive vice president Mr Steve Rogers said “Hannibal continues to invest in new technology and increase its focus on what will help maximize production in relation to customer needs, and this new paint line will help us meet those goals in a big way. We just announced our robotic frame cell equipment last month, and this is just another example of our commitment to our customers and our employee owners that Hannibal will continue to lead and invest where it makes the most sense.”

Using two paint lines instead of one not only improves production time, it also eliminates delays and waste when changing colors during a paint run.

Source : Strategic Research Institute

voda 16 januari 2020 08:38

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RAG stapt in consortium om liftdivisie Thyssenkrupp over te nemen - media

FONDS KOERS VERSCHIL VERSCHIL % BEURS
ThyssenKrupp AG
11,91 0,00 0,00 % Frankfurter Wertpapierbörse (Xetra)

(ABM FN) Het Duitse RAG Stiftung heeft zich bij een consortium van private equity-firma's Advent en Cinven gevoegd die pogen de liftdivisie van Thyssenkrupp over te nemen. Dit schreef persbureau Reuters donderdag op basis van twee bronnen.

De liftdivisie van Thyssenkrupp zou circa 15 miljard euro waard zijn.

Thyssenkrupp en RAG, een Duits industrieconcern dat hoofdaandeelhouder is van Evonik, wilden tegenover Reuters niet reageren op de geruchten.

Met een lokale speler als RAG in de gelederen, dat bovendien minder strikte financiële doelstellingen heeft dan private equity-firma's, zouden de kansen voor het consortium toe nemen dat de ondernemingsraad van Thyssenkrupp akkoord gaat met een deal, aldus Reuters. Vertegenwoordigers van de werknemers maken voor de helft deel uit van de raad van toezicht van Thyssenkrupp en moeten een deal goedkeuren.

Op maandag verkocht RAG nog een belang van 5,2 procent in Evonik ter waarde van 632,5 miljoen euro.

Door: ABM Financial News.
pers@abmfn.be
Redactie: +32(0)78 486 481

© Copyright ABM Financial News B.V. All rights reserved.

voda 16 januari 2020 16:19

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Chinese Steel Exports in 2019 dip to 5 Year Low

China's customs data showed that China's finished steel exports in December 2019 dropped 15.7% YoY to 4.684 million tonnes. China's finished steel exports dropped 7.3% year on year to 64.293 million tonnes in 2019, the lowest annual total since 2014

China's finished steel exports

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Source : Strategic Research Institute

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voda 16 januari 2020 16:21

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Latin American Steel Consumption in 9 Months of 2019 Remains Flat YoY

Latin American steel association Alacero announced that the consumption of rolled steel in October was 5% lower than the total registered in the same period of 2018. Despite the 4% increase compared to September 2019, the accumulated until October remained 5% lower than in the same period of the previous year. Even so, it was 0.3% higher than the average for the first 9 months. The balance had a slightly positive trend, totaling 202 thousand tons, 4% above the result observed in September. The growth is due in large part to the consumption of Guatemala (26%), Argentina (24%), Brazil (17%), Mexico (16%) and Ecuador (14%).

In November 2019, crude steel production totaled 4,828 million tonnes, 10% less than November 2018. The accumulated until November (55,722 million tonnes) was 8% lower than the same period of the previous year. The result was 5% below the average of the first 10 months. Mexico was responsible for the largest part of the fall (58%) and registered the worst indicator since March 2016.

Rolled steel production reached 3,971 million tonnes, 10% less than November 2018. The accumulated until November also fell 8% compared to the same period of the previous year. Upon reaching the lowest level in 35 months, the total decreased by 4.3% compared to October and showed a 6% lower result than the average of the first 10 months of 2019. Much of the negative regional balance is due to the deficit of Brazil (75%) and Argentina (36%), which experienced decreases in their annual and monthly productions.

With a total of 1,929 million tonnes, October imports were 6% lower than the same month of 2018. The accumulated until October remained 3% below the equivalent period in 2018. However, there was a 10% increase in comparison to September, which had already registered a punctual decrease due to the volatility of the Mexican market.

The result was 0.4% higher than the average for the first 9 months of 2019. The largest increases in imports were observed in Guatemala (54 thousand t), Ecuador (30 thousand t), Brazil (23 thousand t), Argentina (17 thousand t) and Chile (12 thousand t). In the first 11 months, China’s rolled steel imports fell 27% in Latin America. In January, the total imported was 559 thousand tons, while in November it was 410 thousand tons.

October exports reached 836 thousand tons, 9% above the result seen in the same month of 2018. Although the accumulated (7,655) was 4% lower than the same period of 2018, the total registered a 14% growth compared to October of the previous year, the best indicator since May 2019. The result of exports was 9% above the average of the first 9 months. Brazil expanded its exports by 12%, followed by Mexico (15%) and Argentina (20%).

Source : Strategic Research Institute

voda 16 januari 2020 16:21

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Leeco Steel Expands Steel Plate Distribution Capabilities in Canada

Leading North American supplier of steel plates Leeco Steel announced the expansion of its steel plate distribution capabilities in Canada with the grand opening of a larger distribution center in Hamilton in Ontario. Previously located in a smaller facility in Hamilton since 2014, Leeco Steel moved operations to a 45,000 square foot facility at 20 Myler St, Hamilton, ON L8L 3K4 in January 2020.

The new facility, which has three employees, is accessible by rail and truck and will serve customers throughout Canada. Leeco Steel currently has one Canada-based facility and a total of 11 distribution facilities throughout North America.

Source : Strategic Research Institute

voda 16 januari 2020 16:24

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Thriveni Earthmovers Challenges ArcelorMittal Resolution Plan for Odisha Slurry Pipeline

Business Standard reported that ArcelorMittal’s resolution plan for Odisha Slurry Pipeline Infrastructure, approved by the committee of creditors, has been challenged by the unsuccessful resolution applicant, Thriveni Earthmovers as well as Srei Infrastructure Finance, a lender. Thriveni has moved an application in the National Company Law Tribunal so that the CoC reconsiders its resolution plan and evaluates it on merit of maximisation of value. In its application filed with the NCLT, Thriveni has alleged that the financial interest of the CoC lies in maximising the value of Essar Steel India, a captive consumer of the slurry pipeline, and not OSPIL. The matter will be taken up by the Cuttack Bench of the NCLT early February.

A spokesperson for ArcelorMittal, said, “We cannot comment on details of an ongoing legal matter. We can confirm that the lenders of OSPIL approved ArcelorMittal’s resolution plan for the slurry pipeline unanimously, with a 100 per cent vote in favour of the plan. The plan provides upfront payment with full recovery of the principal amount to all the financial lenders.”

Early December, OSPIL’s CoC selected ArcelorMittal’s INR 2,200 crore upfront payment offer. In the running was Thriveni, which had submitted a INR 3,300 crore bid with an upfront payment of INR 8 crore. The total admitted claims of OSIPL is to the tune of INR 2,660 crore. Lenders decided in favour of ArcelorMittal, primarily due to the difference in upfront payment. The fact that Thriveni’s repayment stretched over a period of time, was also an issue.

The 253-km slurry pipeline, on the other hand, is a critical ancillary unit of Essar Steel. The pipeline connects the iron ore beneficiation plant in Dabuna with the 12-million-tonne pellet plant in Paradip, Odisha. The pellets, a raw material feed for the steel plant, are shipped to Hazira in Gujarat.

Source : Business Standard

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voda 16 januari 2020 16:26

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Metinvest Attracts Longest-Ever ECA Covered Financing

Metinvest has attracted a buyer’s credit facility of EUR 24.4 million for up to 11 years for its subsidiary Ilyich Steel, a steelmaking plant in Mariupol, Ukraine. The facility is covered by an export guarantee of the Republic of France issued by Bpifrance Assurance Export, which acted as the export credit agency. It was granted by Raiffeisen Bank International, which was the sole lender. The interest rate on the facility, which matures in July 2030, has been set at the six-month EURIBOR plus margin. The funds will be used to finance the construction at Ilyich Steel of an air separation unit and vaporisation station. The equipment and engineering services will be procured from Air Liquide Global E&C Solutions France, a global leader in manufacturing and supplying gases, an agreement with which was signed in June 2019. Metinvest Engineering, which executes Metinvest’s investment projects from planning to implementation, is acting as the general contractor of the project.

Metinvest’s financing strategy envisages using ECA-covered facilities as one instrument to fund its Technological Strategy 2030. In 2018-19, the Group has successfully arranged three such facilities from leading financial institutions guaranteed by European export credit agencies totalling more than EUR100 million.

The project aims to replace the existing technologically obsolete oxygen units to ensure that Ilyich Steel’s future demand for air separation products continues to be met as steel production capacity is expanded as part of the Technological Strategy 2030. Total investment in the construction of the facility will amount to around US$78 million. The new air separation and vaporisation unit will have a production capacity of 25,000 normal cubic metres per hour of gaseous oxygen, 1,750 normal cubic metres per hour of liquid oxygen and 35,000 normal cubic metres per hour of gaseous nitrogen, as well as a liquid oxygen storage and gasification station.

Source : Strategic Research Institute

voda 16 januari 2020 16:27

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Severstal Constructing New Terminal at the Cherepovets Airport

Russian steel giant Severstal has decided to finance the construction of an internal air terminal at the airport complex of Cherepovets. The project is part of a program to replace the existing Severstal fleet with 100-seat Sukhoi Superjet 100 aircraft for a total cost of 12.6 billion rubles. The event involves the construction of a one-story terminal building with an area of 1044 square meters. meter. The terminal will be equipped with modern inspection equipment, conveyor belts, passenger check-in desks, visual information and warning systems. The project cost is more than 160 million rubles.

Employees of the Investment Directorate coordinate the project, part of the Severstal Russian Steel division. To date, survey design work has been completed and a state examination of the project has been carried out. In the near future it is planned to hold a tender to select a general contractor.

Severstal Airlines operates scheduled and charter flights in Russia, the CIS countries and Europe. Is the operator of the international airport Cherepovets. In 2019, more than 300 thousand people used the company's services.

Source : Strategic Research Institute

voda 16 januari 2020 16:30

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Locweld Announces Exclusive Partnership with Valmont Utility

North American leader in steel lattice transmission tower Locweld announced an exclusive formal partnership agreement with Valmont Utility. Together, two industry frontrunners look to deliver the best solution to North American utilities and EPC firms for the design and supply of lattice transmission structures for large scale projects.

Valmont's lattice tower facility in Halol in India will act as an exclusive subcontractor to Locweld for the North American market, with combined annual capacity reaching 80,000 tonnes. Customers can expect the same quality towers from both facilities, with Locweld providing fast deliveries, project management, and logistical planning.

Source : Strategic Research Institute

voda 16 januari 2020 16:31

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Noront Steel Fined for Explosion in 2018 Injuring Worker

Candian steel fabricator Sudbury based Noront Steel has been fined CAD 70,000 for a 2018 incident in which a worker received critical injuries following an explosion. Noront was found to be in contravention of Section 78(1)(b) of the Industrial Establishments Regulation (Regulation 851) which requires that.where alternations are to be made on a drum, tank or other container it shall be drained and cleaned or otherwise rendered free from any explosive, flammable or harmful substance. Noront pleaded guilty and was fined CAD 70,000 on January 13, 2020. The company will also have to pay a 25 per cent victim fine surcharge, as required by the Provincial Offences Act. The surcharge is credited to a special provincial government fund to assist victims of crime.

The Ministry of Labour, Training and Skills Development reported that on August 24, 2018, a worker was cutting drainage holes into a steel drum with a torch when the barrel exploded into flames. The worker received critical injuries. The ministry noted that Noront used 45-gallon steel drums, obtained from other facilities, to store small steel objects. Following the incident, investigation by the Centre for Forensic Sciences determined that the barrel contained flammable substances, included acetone, methyl ethyl ketone and toluene. The drum that exploded had not been cleaned of explosive and flammable material before the worker cut into it. The worker had not been told of the previous contents of the barrel, and the label on the barrel indicated it contained non-combustible substance, the ministry noted.

In operation since 1945, Noront Steel Limited is a full service steel fabrication firm specializing in the manufacture of structural steel, plate work and miscellaneous steel.

Source : Strategic Research Institute

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