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Aandeel ArcelorMittal AEX:MT.NL, LU1598757687

  • 23,510 17 apr 2024 17:35
  • -0,250 (-1,05%) Dagrange 23,500 - 24,220
  • 3.430.788 Gem. (3M) 2,4M

Nieuws en info hier plaatsen (deel 4)

35.173 Posts
Pagina: «« 1 ... 603 604 605 606 607 ... 1759 »» | Laatste | Omlaag ↓
  1. forum rang 10 voda 25 april 2017 16:35
    29 steel makers in China red flagged and 40 given Yellow Card

    Xinhua reported that a senior figure in the Chinese steel industry has called for further cuts in steel capacity, saying the sector remains saturated, despite increased profits and production of steel mills in the first quarter. Mr Gu Jianguo, executive vice chairman of the China Iron and Steel Association, said “The whole industry needs to press ahead with cutting capacity and deleveraging.”

    In another development, China’s Ministry of Industry and Information Technology said that It has removed 29 steel plants from a normal list and urged 40 others to reform to help cut overcapacity and enhance the industry’s competitiveness. Ministry said “Most of the 29 companies were considered inefficient, engaged in illegal production or were heavily debt-laden, while some stopped operations to echo the national call to cut supply. Another 40 steel companies were urged to cut pollution and upgrade equipment.”

    It said “The ministry listed 304 steel companies as normal between 2013 and 2015 based on standards in environmental protection, quality, energy consumption and safety. But it will keep monitoring the industry and re-select normal companies to ensure competitiveness of the industry. The 29 companies will have to be seriously supervised by local authorities although they can continue to their operations. The ministry can close the companies if they fail to meet quality and are not efficient after they have been supervised.

    The other 40 firms were given “yellow card” warnings after they failed to meet environmental protection or safety rules. They would be stripped of the normal classification if they don’t improve within one year.

    These remarks came after an unexpectedly strong performance in the steel sector this year. Thanks to recovery in the broader economy, CISA’s members posted a combined profit of CNY 23.3 billion (USD 3.4 billion) in the first quarter, in contrast to a loss of 8.75 billion yuan a year ago. China’s total crude steel output in the same period rose 4.6% YoY.

    Source : Xinhua
    Bijlage:
  2. forum rang 10 voda 25 april 2017 16:38
    India new steel policy soon – Steel minister

    Business Line reported that centre will announce a new steel policy soon after obtaining the Cabinet clearance and the policy will address many issues that have been pending for a long time and it will enable the country achieve the target of 300 million tonnes of production by 2030.

    According to Union Steel Minister Chaudhary Birender Singh, a Cabinet note was being prepared to make the use of steel made in the country compulsory in Government projects.

    He advised the Visakhapatnam steel plant to take advantage of the huge demand for steel in the several projects being taken up by the Andhra Pradesh Government in the aftermath of bifurcation, including the construction of the new capital Amaravati.

    He also praised the Rashtriya Ispat Nigam Ltd (Visakhapatnam steel plant) for completing the expansion project and said the plant had a great advantage in having two ports in its vicinity. The plant was moving towards achieving international standards of efficiency.

    Source : Business Line
  3. forum rang 10 voda 25 april 2017 16:39
    Industrialists want scrap-based steel plant in Bhavnagar

    Times Of India reported that businessmen and industrialists from Bhavnagar have demanded setting up of scrap-based steel plant in their district as it has all the infrastructure and facilities. They have in fact written letter to Prime Minister Narendra Modi asking him to set up scrap-based steel plant in Bhavnagar.

    Mr Mehul Vadodariya former mayor of Bhavnagar and an industrialist said that "Recently we came to know from "Make in Steel" conference at Delhi that central government is planning to set up two scrap-based steel plants in country to boost up steel production of which one plant would be in western part of the country.”

    He added that "Bhavnagar district is best suited for the proposed scrap-based steel plant. Moreover, it has 152 km coastline and connected with national highways. Alang ship recycling yard is also located here. Ghogha-Dahej Ro-Ro ferry service will soon be operational which will also benefit the industry. The plant will boost the local economy and generate employment.”

    Mr Vadodariya further said that so we have written a letter to PM urging him to set up the plant in Bhavnagar.

    Source : Times Of India
  4. forum rang 10 voda 25 april 2017 16:45
    ArcelorMittal USA develops steel highway barrier

    Published on Tue, 25 Apr 2017
    Image Source: NWI Times

    NWI Times reported that ArcelorMittal Global Research and Development in East Chicago helped develop a new steel safety barrier for highway medians that can soften the impact for a mid-sized car, a pickup truck or a 79,000 pound tractor trailer. The steelmaker, one of the largest employers in Northwest Indiana, teamed up with Gregory Industries to design a new highway safety barrier for North America that would be made with ArcelorMittal steel.

    The barrier would redirect vehicles, instead of just absorbing the force of an impact. ArcelorMittal says it is a more cost-effective alternative to concrete highway barriers, and is a way of reducing one of the leading causes of death: motor vehicle accidents.

    Mr Rich Clausius projects manager Global R&D, East Chicago said that “In the early 2000s, ArcelorMittal worked with European safety barrier manufacturers to design higher performance safety barriers as a result of new regulations that promoted safety performance instead of specifying set barrier configurations. This work proved to be quite successful and led to safer roads and increased steel sales in Europe. In 2008, I was asked to determine if the same approach could be done in the US.”

    ArcelorMittal is trying to boost steel sales in the United States, where its business has been declining and it has cut back on production capacity over the last few years.

    Mr Clausius said that “It’s a win–win. There are many benefits. This barrier results in lower deceleration rates on impact versus concrete, resulting in less damage to the vehicle and injuries to the occupants. It also has a lower installed cost than a comparable concrete center median barrier.”

    ArcelorMittal’s highway barrier design incorporates advanced high-strength steel that’s traditionally been mainly used by the auto industry.

    Mr Clausius said that “As far as we can tell, this is the first time it’s been used in a US safety barrier application.”

    ArcelorMittal USA reached out to the four largest steel safety barrier manufacturers in the United States before bringing its idea before the US Transportation Research Board's Roadside Safety Design Committee and researchers, highway officials government contractors, safety hardware manufacturers and crash test experts.

    Source : NWI Times
    Bijlage:
  5. forum rang 10 voda 25 april 2017 16:46
    Korean steelmakers will have a much harder time with US duties

    Korea Times reported that POSCO, Hyundai Steel and other Korean steelmakers will have a much harder time exporting their products to the United States as it vows to restrict steel imports in the name of protecting national security, analysts said Friday. Korean steelmakers could also be forced to take voluntary export restraint steps as Japanese carmakers did in the 1980s when the US pressed Japan to limit car exports to the American market.

    SK Securities analyst Kwon Soon-woo said that "There is no question that if Trump's executive order translates into action, this will damage Korean steelmakers' US shipments. But POSCO, Hyundai Steel and others will not be affected by it as much as they used to be in the past because the portion of their US exports has declined over the years."

    Mr Kwon said if the latest US move aims to go after Chinese steelmakers, the main culprit behind the global supply glut, Korean companies may benefit from it. He said that "It still remains to be seen. But if the U.S. takes harsher action against the Chinese, this could benefit POSCO and other local companies."

    US President Donald Trump's order to investigate whether foreign steel products adversely affect US national security is the latest in a series of steps by the populist leader to curb steel imports and revive the struggling US steel industry.

    Since his inauguration in January, Trump has been raising trade barriers for Korean and other foreign steelmakers, imposing anti-dumping tariffs, countervailing duties and other safeguard measures.

    Source : Korea Times
  6. forum rang 10 voda 25 april 2017 16:47
    HRC is sole steel product on the uptrend in Iran - Report

    Financial Tribune reported that as Iranian mills steel product output is on an overall downtrend, the only commodity defying this trend is hot rolled coil, which is solely produced by Iran's largest steelmaker Mobarakeh Steel Company.

    Major Iranian steelmakers produced 10.05 million tonne of steel products, including hot and cold rolled coils, rebar, beams, pipes, wide and galvanized sheets in the last fiscal year (March 2016-17), down 2.28% compared to the year before.

    MSC and its subsidiary Saba Steel had the largest share of production with 5.61 million tonne, made up entirely of HRC. MSC accounted for 4.97 million tonne of the figure and Saba 635,669 tonne, up 2.68% and 1.48% respectively.

    This is while all other heavyweight producers recorded a decline in output with the exception of Azarbaijan Steel Company, which produced less than 300,000 tonne of rebar and Chaharmahal-Bakhtiari Automotive Sheet Company, which is also a producer of flat steel and another subsidiary of MSC.

    MSC’s rising HRC output came amid Iran's growing auto output and a consequent rise in flat steel consumption. Demand for structural steel and other products is still low, as the construction sector remains stagnant.

    Over the previous fiscal year (March 2016-17), Iranian carmakers produced 1.3 million units, recording a 40.7% growth year-on-year, the Ministry of Industries, Mining and Trade announced.

    The country’s leading auto manufacturer, Iran Khodro Group, accounted for 634,481 units, up 31% year on year. SAIPA, the second largest producer, produced 319,850 units, up 43% and Pars Khodro made 197,989 units, up 74%.

    The growth in numbers was particularly significant for the last month of the year (February 19-March 20). IKCO produced 57,433 vehicles, which indicate a 16.2% rise. SAIPA posted a 46.6% growth with 47,135 units, indicating a jump of 14,982 compared with the preceding year's corresponding month.

    MSC is expected to dominate the automotive flat steel market, as it is rapidly following expansion plans and shifting from exports to the local market.

    Mr Mahmoud Akbari, said that it sold over 4.71 million tonne of steel products in the local market last year, registering a 42% growth compared to the year before, MSC’s deputy for sales and marketing.

    The company’s exports last year, however, were down 13% compared to the previous year, standing at 1.55 million tonne.

    The main hurdle to MSC export plans last year was a dispute with the Construction Pipe and Profile Manufacturers Association. The association accused MSC of refusing to provide the sector with the needed feedstock of flat steel, overcharging local buyers and prioritizing exports.

    The dispute dragged on for months with some other consumers voicing the same complaint, until the Ministry of Industries, Mining and Trade ordered MSC to shift its focus to the local market.

    Today, together with its subsidiaries, MSC is the largest flat steel producer in the Middle East and North Africa region and Iran’s largest steelmaker, accounting for 1% of Iran's GDP. The company accounts for approximately 50% of Iran's total steel output and holds approximately the same share in domestic flat steel consumption.

    Source : Financial Tribune
  7. forum rang 10 voda 25 april 2017 16:49
    Sault Ste Marie Muncipal wants action on Essar Steel back taxes

    CBC.CA reported that city of Sault Ste. Marie is putting Essar Steel on notice. The municipality is owed millions of dollars in backtaxes by the steelmaker, and that number is growing. Sault Ste. Marie Mayor Christian Provenzano said that it is highly unusual for a company to stall on paying its taxes when it's under creditor protection. He said that "Whatever [the company's] opinion is on what its actual taxes should be, it certainly has to believe that it should pay some taxes.”

    The Mayor said that "This is where I have a real issue with the conduct of the company. To pay no taxes is completely inexcusable. So if you think your tax bill is high, that's fine. Make those representations, make those arguments, and we'll have an intelligent and reasonable discussion about that. But to not pay at all, is not a reasonable position."

    Essar has been under CCAA [Companies' Creditors Arrangement Act] protection since November of 2015.

    The City of Sault Ste. Marie, Ont. is appealing to the courts to try to get Essar Steel Algoma Inc. to pay property taxes municipal officials say haven't been paid in years.

    The steelmaker owes about USD 26 million to the city, Mayor Christian Provenzano told CBC. He said that number will jump to USD 30 million by next year.

    The Mayor said that "It adds up really, fast, This has been ongoing for a number of years and frankly the city doesn't believe that the current conduct of the company is appropriate."

    Provenzano acknowledged the company is currently going through the creditor protection process under the Companies Creditors Arrangement Act, but maintained that in such situations, property taxes are often paid to municipalities.

    Source : CBC.CA
    Bijlage:
  8. forum rang 10 voda 25 april 2017 16:52
    AISI update on Raw Steel Production in US in Week 16

    In the week ending on April 22, 2017, domestic raw steel production was 1,715,000 net tons while the capability utilization rate was 73.6 percent. Production was 1,698,000 net tons in the week ending April 22, 2016 while the capability utilization then was 72.6 percent.

    Source : Strategic Research Institute
  9. forum rang 10 voda 25 april 2017 16:53
    Iran flat steel import buying activity modest

    Financial Tribune reported that buying activity in the Iranian flat steel import market remained modest despite all suppliers dropping their prices in the past week, sources told Metal Bulletin. One trader said that “There are no bookings; today everybody waits and sees, in expectation of further price falls.”

    Metal Bulletin’s weekly assessment of import prices for 2 mm hot rolled coil in Iran dropped to USD 445to USD 450 per tonne CFR Iranian ports on April 19 from USD 465 to USD 490 per tonne CFR.

    Offers from Kazakhstan’s ArcelorMittal Temirtau were heard coming at USD 430 per ton FOB Aktau. The estimated cost of freight to the northern Iranian port of Anzali is USD 15 per tonne.

    Russia’s MMK offered HRC at EUR 435 (USD 464) per ton FOB Astakhan, which would be equivalent to USD 484 per tonne CFR Anzali.

    Meanwhile, Chinese material was available at USD 450-455 per tonne CFR southern ports of Iran, sources told Metal Bulletin.

    One trader told Metal Bulletin that “If [the] custom duty is not changed, we shall start to import from China.”

    Currently, there is a 20% import duty for HRC and CRC in Iran, while hot dip galvanized coil is subject to a 26% duty.

    The duties were expected to be halved at the beginning of the current Iranian year (which started on March 21), but no decision has been announced yet by the government.

    In these conditions, buying activity has remained modest.

    Source : Financial Tribune
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  10. forum rang 10 voda 25 april 2017 16:54
    China ratchets up the pressure on its aluminium producers - Andy Home

    Reuters reported that is aluminium the new steel for China's policy-makers? China's aluminium producers, which like their steel counterparts now dominate global supply, seem to be next in line for "supply-side reform".

    Threats to close capacity in the region around Beijing over the winter heating months had already propelled aluminium prices higher. They have just been given a further boost by news that Beijing has ordered the suspension of new capacity in the northwestern province of Xinjiang. Further measures seem certain to follow.

    The country's aluminium output growth is already showing signs of braking sharply, although, as ever, statistical confusion may simply be adding to the general confusion as to what Beijing's real aluminium policy goals are.

    Beijing's plan to force capacity reductions in the area around the capital city next winter had already lit a fire underneath the aluminium price.

    Sceptics argue that the size of the likely cuts will be dwarfed by the continuing roll-out of new capacity, particularly in the far-flung northwestern province of Xinjiang.

    That calculation has now just been thrown into question after three Xinjiang smelter projects were ordered suspended last weekend.

    Xinjiang has emerged as the new hub of both Chinese and global aluminium capacity with more than seven million tonnes of operating production and a seemingly endless supply of new smelter projects.

    Source : Reuters
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  11. forum rang 10 voda 25 april 2017 17:06
    The price gap between iron ore grades will narrow - Analysts

    Australian Financial Review reported that the gaping delta between the prices paid for high grade and lower grade iron ores should ease in coming months as Chinese steel mills increase their use of lower grade products, according to analysts. The price gap between 58% iron ore and the 62% iron ore index has ballooned in recent months, robbing Australian lower grade producers of some of the upside from the rally in iron ore prices during the March quarter.

    During the three months to March, the price for 62% iron ore averaged USD 85.52 per tonne, compared to an average price of USD 52.96 per tonne for 58 per cent iron ore. On Thursday the delta was USD 29, with the products at USD 65 and USD 36 respectively.

    Chinese steel mills have been motivated to buy higher grade iron ore to maximise production as the price for coking coal, also used to make steel, soared and regulators restricted steel production during winter due to pollution concerns.

    Fortescue Metals Group, which sells its product off the 62% price but at a discount, achieved a 76 per cent realisation of the index price in the March quarter with an average price of USD 65 per tonne

    Chief executive Mr Nev Power said the "inelastic" market for higher grade ore meant the buying behaviour drove up prices for the product but argued the delta was not "structural" and was likely to normalise in the second half of the calendar year.

    Junior miner Atlas Iron managing director Cliff Lawrenson said if the company could keep its costs in the low $50s per tonne, it would make a fair margin once the gap narrowed.

    Mr Lawrenson said that "It seems the discount will come off as the headline price reduces. If we are assuming an average price in that $US60 to $US65 range, that will return to us in Australian dollars, once we return to a normal value in use type discount, as something in the $70s per tonne."

    AME Group chief economist Mr Mark Pervan said Chinese steel mills' return to lower grade iron ore was already noticeable in the turnover in port stocks, which built as the mills favoured high-grade product.

    Mr Pervan said that "Back in the fourth quarter when coking coal prices spiked the steel mills moved quickly to higher-end iron ore because they needed to be producing quite a lot of steel at that time.”

    He said that "Whereas now they are just pulling out of the market and drawing down [port stocks] because they are not too worried about producing too much steel. That is why you are seeing the drawdown in port stocks and it is one of the reasons the spread is coming in between 58 and 62 [per cent]."

    UBS commodities analyst Daniel Morgan said while he agreed the current discount was not sustainable, largely because UBS expected coking coal prices to cool, China's crackdown on polluting steel mills was "a more sustainable threat".

    Source : Australian Financial Review
  12. forum rang 10 voda 25 april 2017 17:07
    BSG Resources still hopes to regain Guinea mine despite legal strife

    Telegraph Mining group BSG Resources still hopes to one day regain a disputed iron ore deposit in Guinea despite years of legal wrangles. The group, owned by Israeli diamond magnate Beny Steinmetz, believes it can develop the Simandou project in the West African country even though it was stripped of its licence in 2014 amid allegations of bribery. Mr Dag Cramer an advisor to BSGR, told the Sunday Telegraph. “We’re going to develop it and form a partnership with the right people if needed.”

    Mr Cramer suggested that working with the Guinean government “would not be an obstacle” despite the two sides preparing to begin an arbitration over Simandou in Paris next month, which is expected to uncover more details about the long-running struggle to develop the mine.

    Simandou is one of the world’s largest untapped resources of high-grade iron ore, used to make steel, but its location in the interior of the impoverished country has made it difficult and expensive to exploit.

    The licence to develop the mine was originally held by FTSE 100 group Rio Tinto, before it lost half of the concession to BSGR in 2008.

    The Israeli firm then struck a controversial USD 2.5 billion deal to partner with Brazilian giant Vale to develop its half of the project, but lost its rights after a new government came to power and accused it of bribing its way into Simandou.

    Mr Steinmetz is being investigated by authorities in three countries over bribery, and was briefly placed under house arrest in Israel last year. No charges have been brought, and BSGR has always denied wrongdoing.

    The company’s arbitration at the World Bank’s International Centre for Settlement of Investment Disputes begins on May 22. If BSGR is successful, it could result in a ruling ordering that its rights be restored.

    It comes as Guinea’s former minister of mines, Mahmoud Thiam, is expected to stand trial in the US next week on charges of bribery in a separate case. Meanwhile, BSGR has launched a USD 10 billion (GBP 7.8 billion) damages suit against American billionaire George Soros, an advisor to Guinea’s government since 2010, accusing him of staging a defamation campaign that resulted in it losing the Simandou licence.

    BSGR said that “Soros was motivated solely by malice, as there was no economic interest he had in Guinea adding that his “illegal conduct destroyed” the group’s investment in Guinea.”

    Mr Soros’s spokesman has called the allegations “frivolous and entirely false” and a “desperate PR stunt meant to deflect attention from BSGR’s mounting legal problems across multiple jurisdictions”.

    BSGR has also threatened to sue Rio for multibillion-dollar damages over Simandou, alleging that it had a “central role” in bringing about its loss of mining rights. Rio has said it will defend itself “robustly”.

    The Anglo-Australian miner is caught up in a bribery investigation of its own, after leaked emails appeared to show that senior executives approved a $10.5m payment to a French banker in Guinea in 2011, apparently in exchange for his services in helping it reclaim half of its rights to Simandou. The miner has reported itself to authorities in the US, the UK and Australia.

    Source : Telegraph
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  13. forum rang 10 voda 25 april 2017 17:08
    Odisha to auction three mines by May – Prafulla Mallick

    Times Of India reported that Mines Minister Prafulla Mallick said that Odisha government would auction three more mines by end of May this year. Mr Mallick said that e-auction of Netrabanda, Kalamunda iron ore mine blocks and Garamura limestone block would be completed by May 2017. He said that "We have already notified about the auction in March. If everything goes well, we will be able to complete the process by end of May.”

    So far, three mines have been auctioned in the state.

    He also said that 5 to 6 more iron ore mines would be auctioned by the end of the current financial year.

    Meanwhile, Odisha's revenue collection from mining sector for the 2016-17 fiscal has registered a sharp decline, the lowest in the last five years. The mining sector contributes a major share to state's total revenue collection.

    The total revenue from mining stands at INR 4,500 crore against the target of INR 6,500 crore. Mining sector had contributed the state coffer with INR 5,797 crore in 2015-16. It was INR 4,586.65 crore in 2011-12, INR 5,679.35 crore in 2012-13, INR 5,519.58 crore in 2014-15.

    Source : Times Of India
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  15. forum rang 10 voda 26 april 2017 15:18
    PERSBERICHT: Bekaert en ArcelorMittal breiden hun partnerschap in Brazilië uit


    Bekaert en ArcelorMittal hebben een akkoord bereikt over de integratie
    van Bekaerts huidige volle dochteronderneming in Sumaré
    (Brazilië) binnen het BMB (Belgo Mineira Bekaert Artefatos de Arame
    Ltda) partnerschap.

    In lijn met de aandeelhoudersstructuur van de BMB joint venture zal
    ArcelorMittal meerderheidsaandeel-houder worden (55,5%) van de
    staalkoordvestiging in Sumaré en zal Bekaert de resterende aandelen
    (44,5%) aanhouden.

    De transactie is onderworpen aan de gebruikelijke voorwaarden en zal
    vermoedelijk worden afgerond in de loop van het tweede kwartaal van
    2017.

    Beide partners streven naar een soepel overgangsproces om de toelevering
    en dienstverlening aan de klanten te blijven waarborgen.

    Bekaert zal na afronding van de transactie de resultaten van de
    Sumaré vestiging niet meer opnemen in de geconsolideerde winst- en
    verliesrekening, maar als aandeel in het resultaat van joint ventures en
    geassocieerde ondernemingen.

    Persmededeling in PDF: hugin.info/133955/R/2098997/795168.pdf

    This announcement is distributed by Nasdaq Corporate Solutions on behalf
    of Nasdaq Corporate Solutions clients.

    The issuer of this announcement warrants that they are solely
    responsible for the content, accuracy and originality of the information
    contained therein.

    Source: Bekaert via Globenewswire

    www.bekaert.com

    (END) Dow Jones Newswires
  16. forum rang 10 voda 26 april 2017 15:50
    Buildings and infrastructure accounts more than 50% of world steel production - worldsteel

    Construction is one of the most important steel-using industries, accounting for more than 50% of world steel production. Buildings - from houses to car-parks to schools and skyscrapers

    Source : Strategic Research Institute
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  17. forum rang 10 voda 26 april 2017 15:51
    JISF concerned at Trump steel protectionism

    Reuters quoted Japan Iron and Steel Federation chairman Kosei Shindo as saying that Japanese steelmakers are concerned at “protectionism” by US President Donald Trump, following Trump’s first shot across China’s bows over steel exports.Japan is the world’s second-largest steel producer, although Mr Shindo said it was too early to assume a US probe into exporters of cheap steel would draw in Japanese steel makers.

    Mr Shindo said that “We are greatly concerned over Trump’s protectionism, although we hear he has softened his tone on some issues with a grasp of reality.”

    He added that “We will need to closely watch his actual policies and negotiations.”

    Trump on Thursday launched a trade probe against China and other exporters of cheap steel into the US market, raising the possibility of new tariffs. Diverging from the Obama administration’s approach to the issue, which relied largely on filing complaints to the World Trade Organisation, Trump ordered a probe under Section 232 of the Trade Expansion Act of 1962, which lets the president impose restrictions on imports for reasons of national security.

    Source : Reuters
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  18. forum rang 10 voda 26 april 2017 16:14
    Chongqing Steel warns of bankruptcy after creditor goes to court

    Iron and Steel Company warned of the risk of bankruptcy on Tuesday, after one of its creditors submitted an application to a local court to reorganise its assets. Chongqing Steel said in a notice posted to the Hong Kong Stock Exchange that the creditor, identified as Chongqing Laiquyuan Trading, told a court on Monday that the southwest China-based steelmaker's assets were not sufficient to pay off all its debts. It said “If the court formally accepts the application for reorganization Chongqing Steel will be exposed to the risk of declaration of bankruptcy.”

    The firm, which has blamed its predicament on China's economic downturn, industrial overcapacity, soaring labour costs and low steel prices, has tried to expand into more profitable sectors and ditch its steelmaking assets, which operate at a loss.

    But it said last week that there was "great uncertainty" whether its restructuring plans could proceed, with the firm struggling to reach an agreement with its main creditors.

    Chongqing Steel's audited net profits and assets were negative for both 2015 and 2016, and if they remain the same this year, the Shanghai Stock Exchange will suspend trading in the company's shares, it said.

    The firm's former deputy general manager, Dong Ronghua, was put under investigation by China's graft-busting agency late last year for unspecified "serious disciplinary violations".

    Source : Reuters
  19. forum rang 10 voda 26 april 2017 16:18
    Press Release

    EU steel market: Greater stability at the start of 2017 - EUROFER urges caution

    Brussels, 25 April 2017 – EU steel market conditions are improving, both on the demand and the supply sides. Finally, EU steel mills are also seeing relief. However, with only two months of trade data available, caution about import pressures appears to be justified.

    EU steel market

    EU apparent steel consumption ended 2016 on a stronger note than anticipated. Q4 steel demand grew by 7.1% year-on-year due to the combined effect of a higher than expected gain in real steel consumption and significantly lower inventory reduction than was anticipated on the basis of the normal seasonal inventory pattern over the year. Both imports and EU domestic deliveries gained from this rise in demand. For domestic deliveries it was the first significant improvement in year-on-year growth in almost three years and should be seen as the result of the positive impact of anti-dumping duties on supply conditions in the EU steel market.

    Director General Axel Eggert said, “Finally we are seeing evidence of EU steel companies also gaining from improving domestic steel demand. The improved balance between import and domestic supply appears to have been sustained over the first quarter of 2017”.

    Preliminary data for Q1-2017 signal a 2.1% year-on-year rise in EU apparent steel consumption. Customs data for January and February 2017 show total imports rising by 1.2% year-on-year over the first two months of 2017. This would suggest that also domestic deliveries must have benefited from improving steel demand in the EU.

    In 2017 and 2018, EU steel demand is forecast to continue to grow at a moderate rate, reflecting the steady rebound of real steel consumption and a slight increase in inventories, in line with activity in the steel using sectors edging higher.

    Mr. Eggert commented, “However, we must not get ahead of ourselves. The key uncertainty for EU steel producers remains to what extent third country imports will exert a negative impact on the demand-supply balance in the EU. Anti-dumping duties may temporarily provide solace, but the risk of circumvention and other suppliers stepping up deliveries looms large, particularly as protectionism spreads in response to global oversupply pressures. The EU needs to tackle vigorously unfair trade and to stand to its promise to address global overcapacities in the framework of the Global Steel Forum”.

    EU steel consuming sectors

    First data and estimates for Q1-2017 production activity suggest growth of almost 2.5% year-on-year. This mild acceleration in activity would be in line with other signals of industrial activity in the first months of 2017, such as the PMIs and the order assessment surveys from Eurostat.

    By sector, the strength of the automotive industry is again confirmed by Q1-2017 activity growth, but production in the metal goods and steel tube sector also expanded at a healthy pace. Meanwhile, activity in the construction and mechanical engineering sectors improved compared with the same period of last year, albeit at a more moderate rate.

    Prospects for 2017 and 2018 are mildly positive. Solid domestic demand – with private consumption as key driver in 2017 and investment likely to take over the lead in 2018 – and improving exports will spur activity growth. For the time being, the weakened euro will be supportive to euro area exporters to gain from improving international trade conditions. Total activity in steel-using sectors in the EU is forecast to grow just over 2% per annum in 2017 and 2018.

    EU Economic Context

    Robust confidence levels and positive economic data suggest that EU economy might have shifted up a gear in the first quarter of 2017, thereby shrugging off an uncertain political backdrop. Domestic demand will remain a key driver of GDP growth in the EU in 2017 and 2018, with solid prospects for private consumption. The outlook for investment remains clouded by uncertainties as it is facing structural changes which keep the growth of gross fixed capital formation lower than in previous economic recoveries. Prospects for the export sector are positive, taking into account evidence that a synchronised and broad-base upswing of the global economy could be underway.

    On balance, EU GDP is forecast to grow by 1.7% per annum in both 2017 and 2018.

    Notes for Editors
    Economic and Market Report

    For the full report, please click here: Economic & Steel Market Outlook 2017-2018

    Contact

    Jeroen Vermeij, Director Market Analysis & Economic Studies +32 2 738 79 36 (j.vermeij@eurofer.be)

    Charles de Lusignan, Communications Manager, +32 2 738 79 35 (charles@eurofer.be)

    About the European steel industry

    The European steel industry is a world leader in innovation and environmental sustainability. It has a turnover of around €170 billion and directly employs 320,000 highly-skilled people, producing on average 170 million tonnes of steel per year. More than 500 steel production sites across 24 EU Member States provide direct and indirect employment to millions more European citizens. Closely integrated with Europe’s manufacturing and construction industries, steel is the backbone for development, growth and employment in Europe.

    Steel is the most versatile industrial material in the world. The thousands of different grades and types of steel developed by the industry make the modern world possible. Steel is 100% recyclable and therefore is a fundamental part of the circular economy. As a basic engineering material, steel is also an essential factor in the development and deployment of innovative, CO2-mitigating technologies, improving resource efficiency and fostering sustainable development in Europe.

    www.eurofer.org/News%26Events/Press%2...
  20. forum rang 10 voda 26 april 2017 16:29
    South Korea to impose anti-dumping duties on Vietnamese, Indian, Ukraine ferroalloy

    Korea Herald reported that South Korea is set to impose anti-dumping duties on ferroalloy imported from Vietnam, India and Ukraine. After a preliminary examination, the Korea Trade Commission said it will recommend the finance ministry levy punitive duties of 6.08-32.32 percent on ferro-silico-manganese imported from the three countries, for underselling South Korean products and causing damage to the local industry.

    The finance ministry is to determine whether to actually impose anti-dumping duties.

    The market for the material in South Korea is estimated at 230,000 tonnes in 2015 worth 250 billion won (USD 220 million), with products imported from Vietnam, India and Ukraine accounting for nearly 40 percent.

    The commission said in a release that "The KTC concluded that there is enough evidence of anti-dumping practices and substantial damage on the South Korean industry.”

    The commission will make the final decision after carrying out an on-site investigation and hearings over the next three months.

    The KTC said it will launch a separate anti-dumping investigation into polyethylene terephthalate films imported from the United Arab Emirates, Thailand and Taiwan.

    Source : Korea Herald
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