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Aandeel ArcelorMittal AEX:MT.NL, LU1598757687

  • 23,640 24 apr 2024 17:35
  • +0,170 (+0,72%) Dagrange 23,550 - 23,950
  • 2.185.626 Gem. (3M) 2,5M

Nieuws en info hier plaatsen (deel 4)

35.173 Posts
Pagina: «« 1 ... 657 658 659 660 661 ... 1759 »» | Laatste | Omlaag ↓
  1. forum rang 10 voda 28 juli 2017 17:20
    ArcelorMittal update on segment operations - Mining

    Own iron ore production in 2Q 2017 increased by 4.9% to 14.7 million metric tonnes as compared to 14 million metric tonnes in 1Q 2017 due to seasonally higher production in Canada and increased production in Mexico (Volcan mine restarted February 2017). Own iron ore production in 2Q 2017 increased by 9.1% as compared to 2Q 2016 primarily due to increased production in Canada and Mexico.

    Market-priced iron ore shipments in 2Q 2017 increased 9.5% to 9.5 million metric tonnes as compared to 8.7 million metric tonnes in 1Q 2017, primarily driven by higher shipments in ArcelorMittal Mines Canada[8] and Mexico. Market-priced iron ore shipments in 2Q 2017 decreased 1.2% as compared to 2Q 2016 driven by decreased shipments in Canada, Liberia and Brazil offset by higher shipments in Mexico. FY 2017 market-priced iron ore shipments are still expected to increase by approximately 10% versus FY 2016.

    Own coal production in 2Q 2017 decreased by 5.8% to 1.6 million metric tonnes as compared to 1.7 million metric tonnes at 1Q 2017 due to lower production in Kazakhstan. Own coal production in 2Q 2017 increased 11.5% as compared to 2Q 2016 with increases at both Kazakhstan and Princeton (US) mines.

    Market-priced coal shipments in 2Q 2017 increased 3% to 0.8 million metric tonnes as compared to 1Q 2017 primarily due to increased shipments at Princeton (US). Market-priced coal shipments in 2Q 2017 increased 17.2% as compared to 2Q 2016 primarily due to increased shipments at Princeton (US) and Kazakhstan.

    Operating income in 2Q 2017 decreased to $216 million as compared to an operating income of $378 million in 1Q 2017, and an operating income of $62 million in 2Q 2016, primarily for the reasons discussed below.

    EBITDA in 2Q 2017 decreased 33.7% to $319 million as compared to $480 million in 1Q 2017, primarily due to decreased seaborne iron ore reference prices (-26.6%) and lower coal prices, partially offset by higher market-priced iron ore shipments. EBITDA in 2Q 2017 was significantly higher as compared to $163 million in 2Q 2016, primarily due to higher seaborne iron ore reference prices (+13%) and higher coal prices offset in part by lower market-priced iron ore shipment volumes (-1.2%).

    Voor cijfers, zie PDF

    Source : Strategic Research Institute
    Bijlage:
  2. forum rang 10 voda 28 juli 2017 17:24
    Vale update on Iron Ore in Q2 of 2017

    Vale’s iron ore production achieved a record for a second quarter of 91.8 Mt in 2Q17, 5.6 Mt higher than in 1Q17 mainly due to the better operational performance in the Northern System and the weather-related seasonality. Production was 5.0 Mt higher than in 2Q16 due to the S11D ramp-up in the Northern System and the ramp-up of new beneficiation and crushing facilities in the Southeastern System.

    The Brazilian Blend Fines (BRBF) specification has now been standardized and the silica (SiO2) content has been limited to 5%. BRBF product is consolidating its brand as a baseload for several steel mills and being distributed out of eleven Chinese ports.

    The production of high silica products from some mines will be reduced from the second half of 2017 onwards in the Southern and Southeastern Systems by an annualized rate of 19 Mt, together with the above mentioned adjustment in this BRBF quality. Production will therefore be within the lower end of the 360-380 Mt guidance range for 2017, in line with the ongoing strategy to maximize margins.

    Vale reaffirms its long-term base case target of 400 Mt of total production per year.

    Vale’s Global Recovery (GR)3 increased from 45% in 2Q15 to 46% in 2Q16 and to 50% in 2Q17, with an estimate of 51% for 2017.

    Iron ore and pellets shipments from Brazil and Argentina totaled 81.6 Mt in 2Q17, 6.9 Mt and 4.4 Mt higher than in 2Q15 and 2Q16, respectively, mainly due to higher production in the Northern and Southeastern Systems.

    Blended volumes in Asia totaled 14.8 Mt in 2Q17, 9.8 Mt and 3.7 Mt higher than in 2Q15 and 2Q16, respectively, as a result of the ongoing strategy to bring more flexibility to the integrated supply chain.

    The share of offshore inventories over total inventories increased from 15% in 2015 and 2016 to 28% in 2Q17, reflecting the ongoing strategy to shift inventories downstream along the supply chain and closer to the final costumer. The expectation is to have about 30% of total inventories offshore by the end of 2017. The ongoing offshore blending activities require the build-up of offshore inventories and, as a result, temporarily leads to lower sales volumes when compared to shipment volumes from Brazil.

    The average Fe content was 63.8% in 2Q17, remaining in line with the average Fe grade in 1Q17.

    Northern System

    The Northern System, which comprises Carajás, Serra Leste and S11D, achieved a record of 41.5 Mt in 2Q17, 15.3% higher than in 1Q17 as a result of the S11D ramp-up, which is advancing according to plan, and of the better operational performance as well as being influenced by the weather-related seasonality in 1Q17. Production was 13.7% higher than in 2Q16 mainly due to the start-up of S11D in 4Q16.

    Southeastern System

    The Southeastern System, which encompasses the Itabira, Minas Centrais and Mariana mining hubs, produced 27.5 Mt in 2Q17, mainly in line with 1Q17. Production in 2Q17 was 2.3 Mt higher than in 2Q16 due to the ramp-up of production at a crushing facility at the Fazendão mine and the ramp-up of production at Conceição Itabiritos II.

    Southern System

    The Southern System, which encompasses the Paraopeba, Vargem Grande and Minas Itabirito mining hubs, produced 22.3 Mt in 2Q17, 3.2% higher than in 1Q17, mainly due to the resumption of production at the Mar Azul mine and the better operational performance of the Feijão mine. Production was 9.2% lower than in 2Q16 due to the conversion of some plants from wet to natural moisture processing and the reduction of production at the Aboboras mine, as a consequence of the reduction in the production of high silica products.

    Midwestern System

    The Midwestern System, which encompasses the Urucum and the Corumbá mines, produced 0.6 Mt in 2Q17, remaining in line with 1Q17 and 2Q16, as a result of Vale’s continuing strategy to optimize margins.

    Zie PDF voor cijfers.

    Source : Strategic Research Institute
    Bijlage:
  3. forum rang 10 voda 28 juli 2017 17:26
    ArcelorMittal investeert bijna 100 miljoen euro in Franse productiefaciliteiten

    Investering in Florange en Duinkerke.

    (ABM FN-Dow Jones) ArcelorMittal investeert 96 miljoen euro in een nieuwe productielijn voor automobielstaal in zijn fabrieken in Florange en Duinkerke. Dit meldde de staalgigant vrijdag.

    Het concern investeert 67 miljoen euro in de bouw van een Usibor-lijn van 600.000 ton in Florange. De faciliteit zal naar verwachting half 2019 operationeel zijn. De lijn wordt gewijd aan het produceren van geavanceerd hoog sterk staal voor de automobielindustrie.

    In Duinkerke investeert de staalreus voor 29 miljoen euro in een reeks faciliteiten, waarmee het concern technische verbeteringen hoop te realiseren in overeenstemming met eisen van automotive klanten. Deze projecten zullen naar verwachting in het vierde kwartaal van 2018 operationeel zijn.

    Het aandeel noteerde op een rood Damrak 1,6 procent lager op 22,02 euro.

    Door: ABM Financial News.

    info@abmfn.nl

    Redactie: +31(0)20 26 28 999

    Copyright ABM Financial News. All rights reserved

    (END) Dow Jones Newswires
  4. forum rang 10 voda 28 juli 2017 17:28
    ThyssenKrupp to deliver conveyor system for new underground copper mine in Mongolia

    One of the richest underground copper deposits in the world will soon be accessed with the help of high-capacity gearless driven conveyors from thyssenkrupp. As one of the leading global providers of mining systems, the Industrial Solutions business area has won a contract to supply a material handling system for the new Oyu Tolgoi underground mine in Mongolia. The contract value is in the higher double-digit million euro range. thyssenkrupp will supply a total of nine conveyors with a combined length of 9.5 km as well as seven transfer towers operating at a design tonnage of 7,100 tons per hour. First production from underground is expected in 2020. The Oyu Tolgoi mine complex is a joint venture between the Government of Mongolia and Turquoise Hill Resources, which is majority-owned by Rio Tinto.

    From a depth of nearly 1,400 m beneath the Gobi Desert in the south of Mongolia, the new underground material handling system is planned to transport 95,000 tons per day of copper ore up to the surface. The main components are four high lift conveyors each equipped with 1.6 m wide steel cord belts and dual 5,500 kW gearless drives from Siemens. Further conveyors will feed the main incline conveyors and tie the new underground system into the existing process facility.

    Torsten Gerlach, CEO of the Mining Technologies business unit of thyssenkrupp Industrial Solutions: “This order again proves that thyssenkrupp is a strong player in the mining and materials handling industry. We are proud to contribute to this project with our intelligent belt conveyor technology and our strong global project execution capabilities. The system will help the Oyu Tolgoi mine set standards in terms of productivity and safety.”

    The Oyu Tolgoi mine began producing copper concentrate from an open pit operation in 2013. The future underground construction activities will transform Oyu Tolgoi into one of the most significant copper mines globally.

    New conveyor system reduces maintenance and downtime

    The order given to thyssenkrupp includes the engineering, design, and supply of the new material handling system as well as required site support services during the construction and commissioning phases. It will be designed with an emphasis on ease of maintenance. This includes, for example, the ability to quickly replace chute sections as well as idler rolls and belt cleaners. The drive components are massive in terms of size and weight, so great attention will be paid to safely transporting them underground and to ensuring they can be safely exchanged in the future. Overhead bridge cranes are strategically located to not only service the equipment, but also to aid in the erection of the major structures.

    The work scope also includes water and air piping for the required dust suppression equipment, fire protection along all of the underground conveyors and electrical infrastructure to control and power the equipment.

    Source : Strategic Researchj Institute
    Bijlage:
  5. forum rang 10 voda 28 juli 2017 21:05
    VietNam to terminate temporary anti-dumping duties on H beams from China

    Viet Nam Competition Authority, under the Ministry of Industry and Trade, has announced the termination of temporary anti-dumping duties on H-shaped steel imported from China.

    Starting August 3, 2017, the temporary anti-dumping duties on H-shaped Chinese steel will expire. The investigation is currently in the final phase and scheduled to complete in August 2017.

    VCA advises concerned parties on the possibility of adopting official anti-dumping measure that continues or replaces the current one. Thus, enterprises should actively consider ensuring the efficiency of their own production and business activities.

    On October 5, 2016, MoIT issued Decision 3993/Q?-BCT on conducting an anti-dumping investigation into H-shaped steel products imported from China. Later on, the temporary anti-dumping duties on H-shaped Chinese steel were imposed at MoIT’s Decree No 957/2017/Q?-BTC published on March 21, 2017. Under that decree, the anti-dumping duties ranged from 21.18 per cent to 36.33 per cent and would be in effect between April 5 and August 2, 2017.

    Source : VNS
  6. forum rang 10 voda 28 juli 2017 21:07
    Russian institute improves steel for nuclear reactors

    AA Bochvar Research Institute of Inorganic Materials has announced its development of a type of steel to "significantly improve" the neutron-physical properties of a nuclear power reactor's active zones by reducing neutron loss due to parasitic absorption. VNIINM said that the new material will also reduce the costs of radioactive waste handling and disposal.

    The reduced activation ferritic martensitic steel EK-181 is designed for use in active nuclear and thermonuclear reactors with liquid-metal coolants and operating temperatures of up to 700 degrees Fahrenheit.

    VNIINM said that it had established the required material-science knowledge on the physical-mechanical, thermo-physical and nuclear-physical properties of low-activated construction materials in the course of developing and preparing the EK-181 steel for industrial use. The results of its research on the steel are protected by two patents and nine know-how licence agreements, and been included in more than 40 articles published in referee journals, it added.

    Maria Leontieva-Smirnova, one of the project's developers, said that "Russian steel is quite inferior in its functional properties because traditional ferritic-martensitic steels have a chromium content of about 12%, which significantly exceeds the main low-activated ferritic-martensitic steels produced overseas that have a chromium content of 8-9%."

    VNIINM is a subsidiary of TVEL, which is the nuclear fuel manufacturer subsidiary of Russian state nuclear corporation Rosatom.

    Source : World Nuclear News
    Bijlage:
  7. forum rang 10 voda 28 juli 2017 21:12
    HDFC reveals INR 910 crore exposure to Essar Steel

    Bloomberg Quint reported that Mortgage lender Housing Development Finance Corporation Ltd., which reported a second straight decline in quarterly profit, has disclosed a INR 910 crore exposure to Essar Steel Ltd., one of the 12 accounts identified by the Reserve Bank of India for insolvency proceedings.

    Mr Keki Mistry vice chairman and chief executive officer said at the company’s annual general meeting HDFC had provided for its exposure to Essar Steel before it became a non-performing asset. The lender has set aside 25% of the loan amount and will increase it as the year goes by, if it is not settled. He added that “The minimum 50 percent provision requirement applicable for banks does not apply to us.”

    The steelmaker is among the dozen stressed companies identified by the central bank for resolution under the Insolvency of Bankruptcy Code. They contribute a quarter of India’s INR 7.7 lakh-crore bad loans. Essar Steel has challenged its inclusion in the Gujarat High Court.

    Mr Mistry said the Essar Steel account is an old loan given for building a housing colony and some other work at their units.

    The official said that the secured loan was for the construction of factory premises at the Hazira plant, said a company official requesting anonymity. The steelmaker was servicing loan.

    Source : Bloomberg Quint
    Bijlage:
  8. forum rang 10 voda 28 juli 2017 21:16
    Cliffs Natural USD 700 million iron plant will draw more steel projects

    The Blade quoted Mr Paul Toth, the agency’s president and chief executive officer, said he could not remember an industrial project of this magnitude at Toledo’s port in the past 50 years. He and Mr Lourenco Goncalves, Cleveland-based Cliffs Natural Resources Inc.’s president and chief executive officer, both predicted additional steel-industry investments in the region as a result of the USD 700 million Cliffs plant that will be built on part of the former Gulf Oil refinery site on Front Street.

    Mr Toth said that American “mini mills,” which use electric-arc furnaces to make new steel from melted scrap and refined iron, now import significant amounts of processed iron from Russia and Brazil.

    He said that “This project will replace it [imported iron] with American manufacturing jobs.”

    Mr Goncalves said his firm chose the port site on Front Street because of its proximity to raw materials, availability of natural gas fuel for its process, Toledo’s “phenomenal port,” and “great people.”

    Combined with the refinery site’s availability as a “brownfield,” those attributes have reduced Cliffs’ cost to build its plant by “close to USD 100 million,” he said after crediting Alex Johnson, president of Midwest Terminals of Toledo, with starting the proposal.

    Mr Toth said the plant is the realization of the potential his agency saw when it bought the property it now calls Ironville Dock from Chevron Corp. nearly a decade ago although “I don’t think we envisioned $700 million, an investment of this magnitude.”

    Midwest Terminals leases the Ironville site from the port authority, and Mr Toth said he expects Midwest to sublease the 100 acres east of Front Street to Cliffs. Midwest pays a percentage of gross revenues to the port for its leasehold.

    Mr. Goncalves promised the plant will have “zero impact” on the environment, with pollution-control systems in place to capture the waste gases its refining process generates.

    Source : The Blade
  9. forum rang 10 voda 29 juli 2017 17:01
    ArcelorMittal's (MT) CEO Lakshmi Mittal on Q2 2017 Results - Earnings Call Transcript

    Jul. 27, 2017 6:02 PM ET|3 comments| About: ArcelorMittal (MT)
    Q2: 07-23-17 Earnings Summary
    Slides News
    EPS of $1.29 beats by $0.25 Revenue of $17.24B (+ 17.0% Y/Y) beats by $90M
    ArcelorMittal (NYSE:MT)

    Q2 2017 Earnings Conference Call

    July 27, 2017 09:30 ET

    Executives

    Daniel Fairclough - Investor Relations

    Lakshmi Mittal - Chairman and Chief Executive Officer

    Aditya Mittal - Group Chief Financial Officer and Chief Executive Officer, Europe

    Simon Wandke - Chief Executive Officer, Mining

    Genuino Christino - Head, Finance

    Analysts

    Mike Shillaker - Credit Suisse

    Ioannis Masvoulas - RBC

    Alain Gabriel - Morgan Stanley

    Seth Rosenfeld - Jefferies

    Alessandro Abate - Berenberg

    Cedar Ekblom - Bank of America

    Novid Rassouli - Cowen

    Phil Gibbs - KeyBanc

    Carsten Reik - UBS

    Bastian Synagowitz - Deutsche Bank

    Luc Pez - Exane

    Philip Ngotho - ABN Amro

    Daniel Fairclough

    Good morning and good afternoon, everybody. This is Daniel Fairclough from the ArcelorMittal Investor Relations team. Thank you very much for joining us on this call today, which for your information is being recorded. This morning, we published our results for the second quarter and first half of 2017. We also published a presentation of these results together with our strategic progress and this was accompanied with detailed speaker notes and a Q&A document as well. So, you have had a good chance to review these documents and so we intend to move directly to your questions on this call today. [Operator Instructions].

    And with that, I will hand over to Mr. Mittal for some introductory remarks.

    Lakshmi Mittal

    Thank you, Daniel. Good morning and good afternoon everyone. Thank you for joining today’s call to discuss ArcelorMittal’s first half 2017 results.

    I am joined today by Aditya Mittal, Group CFO and CEO, Europe; Simon Wandke, CEO, Mining; Genuino Christino, our Group Head of Finance and Daniel, Head of Investor Relations.

    Before we start our Q&A session, I want to provide some opening remarks on the results and our outlook for the remainder of 2017. Starting with safety, the injury frequency rate in the first half of 2017 was essentially stable compared with last year. However, we continued to prioritize further improvement in safety performance and strive for zero harm. Our financial results in the first half of 2017 read the best since the first half of 2012. Group EBITDA increased by 61% year-on-year and we delivered twofold increase in net income and a healthy return on equity. This reflects not only the improved market backdrop, but also the ongoing benefits from our unique action 2020 plan.

    Given the improved macroeconomic environment, we have today increased our forecast for global steel demand by 200 basis points. The strong demand backdrop is helping to support robust steel spreads. Aside from our stronger financial performance, we have made progress on a number of strategic fronts. First, our balance sheet continues to strengthen. At 1.5 times, our net to trailing 12 months EBITDA is at its lowest level since 2009. This will improve further over the remainder of the year as we continued to make progress towards an investment grade credit rating.

    While further de-leveraging remains a priority, we are also capitalizing on growth opportunities. This includes our investments to support our continuous shift towards high added value products as well as the recently announced acquisition of Ilva in Italy. Ilva is an exciting opportunity to create value for shareholders. Contrary to perceptions, this is a Tier 1 asset in terms of scale, deepwater port and very high-quality finishing operations. That we can add this asset to our portfolio without compromising our balance sheet is a great use for our shareholders.

    Finally, we continued to make good progress on Action 2020, I think many of you will have attended our recent site visits to get where you had opportunity to see first hand the ongoing transformation that is underway. We are now operating from a more efficient, resized footprint and we are utilizing the latest technologies to enhance operations, to drive productivity improvements and support maintenance excellence.

    seekingalpha.com/article/4091566-arce...
  11. [verwijderd] 29 juli 2017 21:49
    LONDEN (AFN) - Kredietbeoordelaar Fitch is positiever gestemd over staalconcern ArcelorMittal. Het bureau verhoogde de outlook voor de kredietwaardigheid van stabiel naar positief. Daarmee is een opwaardering van de kredietbeoordeling van 's werelds grootste staalproducent een stap dichterbij.

    De rating blijft vooralsnog staan op BB+. Volgens Fitch zijn de vooruitzichten voor ArcelorMittal gunstiger, geholpen door de wereldwijd aantrekkende staalmarkt. Verder heeft ArcelorMittal veel vooruitgang geboekt bij het aanpakken van de schuld en het verbeteren van de balans. Ook profiteerde het bedrijf van kostenbesparingen.

    Volgens Fitch moet het staalconcern de komende twee tot drie jaar in staat zijn om de schuld verder te verlagen. Fitch rekent daarbij op een reductie met 4 miljard dollar eind 2019.

    Het is niet voor het eerst dit jaar dat Fitch zich positiever uitliet over ArcelorMittal. In april verhoogde de firma de outlook voor de kredietwaardigheid al van negatief naar stabiel.
  12. forum rang 10 voda 31 juli 2017 16:34
    De toonaangevende Nikkei in Tokio eindigde 0,2 procent lager op 19.925,18 punten. De Japanse hoofdindex daalde in de afgelopen maand 0,4 procent en bewoog daarbij in de krapste bandbreedte in 31 jaar. De staalproducenten Kobe Steel en Nippon Steel & Sumitomo Metal stegen respectievelijk 8,9 en 3,1 procent na goed ontvangen resultaten.

    (ingekort)

    www.iex.nl/Nieuws/ANP-310717-037/Nikk...
  13. forum rang 10 voda 31 juli 2017 16:45
    Premier Mr Li warns of strict action over capacity cut drive in China

    Chinese Premier Mr Li Keqiang has called for steadfast efforts to push overcapacity cuts after government inspections found that a number of steel mills were trying to resume production of inferior-quality steel bars. Mr Li said in an instruction note on the findings of an inspection by the State Council said "We must stand firm in capacity-cutting efforts to prevent shutdowns in production from flaring up again. Those breaking government rules will be strictly punished, and authorities with weak supervision will be held accountable.”

    China's State Council requires all facilities producing inferior-quality steel bars to be dismantled across the country by the end of June, but the inspection found two mills in Tianjin were still in business while one company shutdown in Hunan province was seeking to restart production.

    The government work report this year stated that China would continue to cut overcapacity in bloated sectors, with targets to slash steel production capacity by around 50 million tonnes.

    National Development and Reform Commission, at the China Iron and Steel Association's annual meeting, said China shut 42.39 million tonnes of crude steel capacity in the first half of 2017, equal to 84% of its target for the whole year. Mr Xia Nong of NDRC said "Our aim is to eliminate 100 million to 150 million tonnes of backward capacity within five years, but actually we accomplish that goal in two years.”

    The capacity cuts made this year do not include a nationwide campaign to shut down illegal low-grade steel production, believed to amount to around 100 million tonnes a year, which was completed by the end of June.

    First-half steel output was 420 million tonnes, up 4.6% YoY, data from National Bureau of Statistics showed on July 17. Wang Guoqing, research director at the Beijing Lange Steel Information Research Center, told the Global Times “The small increase shows that demand for substandard steel, mainly used in the construction industry, has shifted to the normalized and legal steel enterprises.”

    Source : Global Times
    Bijlage:
  14. forum rang 10 voda 31 juli 2017 16:46
    SAIL launches awareness program to boost steel use in rural areas

    Economic Times reported that SAIL has launched a series of awareness programs aimed at increasing steel consumption. The move was initiated by the company's northern region marketing group beginning from Rewari, Haryana. Christened SAIL rural mason awareness workshop: it apprised participants of the various uses of steel and how construction in the rural sector can be improved with the use of steel.

    The masons were also informed about the various steel products that can be used and incorporated in the rural infrastructure.

    From here on: the initiative will be extended to other parts of the regions as well with similar programs slated to be held at locations across the country. This effort is in line with the government's push for increasing per capita steel consumption in the country.

    The rural awareness workshop like these are aimed at increasing production & consumption of steel in in the country, as enhanced steel consumption would pave the way for rapid growth and modernization. The workshop was attended by about 50 masons as well as prominent local people.

    Source : Economic Times
  15. forum rang 10 voda 31 juli 2017 16:48
    South Korea launches anti-dumping probe on Chinese galvanized low carbon steel wires

    Yonap reported that South Korea's trade commission said Monday that it has decided to launch an official investigation into the alleged dumping of a steel product imported from China that has been cited for disrupting fair competition. The decision follows a formal complaint from four South Korean manufacturers.

    Korea Trade Commission said in a press release "The petitioners claim there has been actual damage to the local industry, such as a drop in domestic sales of products made here, due to unfair undercutting of prices by Chinese galvanized low carbon steel wire.”

    The investigation may last up to 10 months, including five months for a preliminary probe, upon which the KTC will decide whether to impose anti-dumping duties.

    Galvanized low carbon steel wire is used for barbed wire fences and metal staples, with the China-made products accounting for 80 percent of the South Korean market worth KWR 100 billion last year.

    Source : Yonap
    Bijlage:
  16. forum rang 10 voda 31 juli 2017 16:49
    HBIS and Great Wall sets up special fund to aid restructuring

    Reuters reported that China's second biggest steelmaker Hebei Iron and Steel Group has set up a CNY 10 billion (USD 1.48 billion) special fund with the Great Wall Asset Management Corp to help finance its restructuring efforts. According to a notice published on Monday by the Hebei provincial government, which owns the firm. HeSteel will contribute 51% of the financing for the fund.

    Great Wall, a state-owned asset management firm, will contribute the remainder of the financing, while the fund will aim to attract other sources of capital and planned projects with a total value of CNY 30-50 billion.

    The notice said the fund would be the first of its kind in China.

    The fund will also participate in Hebei's overall state-owned enterprise reform plans, with the heavy industrial province aiming to upgrade polluting heavy industries like steel and invest in cleaner sources of growth.

    Source : Reuters
  17. forum rang 10 voda 31 juli 2017 16:51
    SAIL plant CEOs to sign MoUs with experts to monitor unit's progress - Report

    Economic Times quoted Steel Secretary Aruna Sharma as saying that to monitor progress of the plants under Steel Authority of India Limited, the government is devising a mechanism wherein pacts will be inked by the CEOs of each mill of the company with government-appointed experts. She told PTI "A separate MoU will be signed between experts and CEO of that plant (each plant of Sail).”

    The contours of the pact, she said, would include various steps to improve the efficiency of the PSU so that it becomes a profitable organisation.

    She told "I am heading a committee. I have put experts in each of these plants (of Sail). Experts have given their reports. Agreements are being done. Agreements they (Sail) will have to strictly follow so that they improve their working.”

    Source : Economic Times
  18. forum rang 10 voda 31 juli 2017 16:51
    Vietnam Steel Associate proposes limit on foreign investment in steel sector

    VN Economic Times reported that the Vietnam Steel Associate has proposed a limit be placed on foreign investment in steel projects making products that domestic enterprises are able to produce, with foreign investment only attracted for the production of steel that can’t be produced locally, such as high-quality alloy steel for machinery production. Figures from VSA show that the demand for stainless steel is on the increase, with imports last year reaching 700,000 tons. Only two local factories produce the steel: VSC-POSCO, with 100 per cent capital from South Korea, and the Vietnam’s Inox Hoa Binh International Joint Stock Company, with total capacity of 300,000 tons per year.

    Recognizing that Vietnam is an ideal destination for stainless steel, many Chinese investors are keen on establishing mills in the country. A Chinese investor recently expressed an interest in building a steel mill in southern Dong Nai province with a capacity of 300,000 tons a year.

    VSA pointed out that with the development of the steel sector, domestic enterprises can afford to build large-scale projects with capacity of up to 6 million tons per year. Therefore, no more foreign investment should be attracted in the sector.

    It believes the government should consider the right time to attract foreign investment and consider project scale and technology in order to ensure competitiveness in the market and control environmental pollution.

    Source : VN Economic Times
  19. forum rang 10 voda 31 juli 2017 16:54
    Nippon Steel & Sumitomo Metal Corp swings to profit for April-June quarter

    Japan's biggest steelmaker Nippon Steel & Sumitomo Metal Corp forecast that its recurring profit would rise 72% for the year ending in March 2018 as it passed on higher material costs to customers by raising prices. It said that recurring profit, pre tax earnings before one-off items, will increase to JPY 300 billion (USD 2.70 billion) from 174.5 billion yen the previous year.

    For more, see link:

    www.nssmc.com/en/ir/library/settlemen...
  20. forum rang 10 voda 31 juli 2017 16:55
    Angul plant will help JSPL make a debt-free co - Mr Naveen Jindal

    The Pioneer reported that looking forward to an efficiency enhancement in its manufacturing units, one of the major steel producers of India, Jindal Steel & Power Ltd, is hopeful that Angul steel plant will help JSPL make a debt-free firm in the next 4-5 years and will contribute a lot in the financial turnaround of the company. Besides, the company has also set a production target of 4.5 lakh tonnes till August this year and aims to reach the rated capacity of 4 MTPA in the next fiscal as well.

    JSPL Chairman Mr Naveen Jindal told The Pioneer in an interview “JSPL’s 6 MTPA integrated steel plant at Angul will emerge as one of the most efficient steel manufacturing facilities in the country. Most importantly, the operational efficiencies of Angul will play a significant role in the debt reduction roadmap of JSPL to be a relatively debt-free company over the next 4-5 years.”

    He added “With the substantial steel manufacturing capacity addition in FY 2017-18 after completion of steel plant at Angul, we would grow stronger and bigger with every passing quarter.”

    With a hope to cut the debt level substantially, Mr Jindal said “Today as we speak, all our capacity expansion projects have been successfully completed, without taking any additional debt during FY 2016-17. The focus is now to sweat these assets of global scale to the optimum levels. The cash generated over the next 3-4 years will reduce the current debt substantially.”

    JSPL with over 5,000 workforce in its Angul facility, has installed 4,554 cubic meter size blast furnace at the same steel complex with 4 MTPA sinter plant, 2 MTPA coke oven, 3 MTPA steel melting shop, 1.2 MTPA plate mill, 1.4 MTPA bar mill and a 810 MW captive power plant.

    Revealing the total debt breakup, the company has said its steel assets carry a debt of INR 24,000 crore level, which is not too high considering the size and scale of assets. The power business under Jindal Power Ltd with a generation capacity of 3,400 MW has also a debt of around INR 8,000 crore. The balance INR 14,000 crore debt is linked to its global operations that includes a 2-MTPA integrated steel plant at Oman and coal mining operations of 6.2 MTPA spread across South Africa, Australia and Mozambique.

    Source : The Pioneer
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