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Aandeel ArcelorMittal AEX:MT.NL, LU1598757687

  • 23,880 10 mei 2024 17:35
  • +0,200 (+0,84%) Dagrange 23,870 - 24,320
  • 2.942.344 Gem. (3M) 2,5M

Nieuws en info hier plaatsen (deel 4)

35.173 Posts
Pagina: «« 1 ... 713 714 715 716 717 ... 1759 »» | Laatste | Omlaag ↓
  1. forum rang 10 voda 12 december 2017 16:53
    Mitsubishi Steel investing in spring steel plant in Germany

    Acquisition of capital interest accompanying change in subsidiary companies
    Mitsubishi Steel Mfg Co Ltd announced that acquisition of capital interest in a company in Europe. In order to become so-called "Global Supplier" for suspension spring (coil spring / stabilizer bar), which is one of the main direction set in 2016 Mid-term Business Plan, Mitsubishi Steel Mfg Co Ltd will penetrate into the European market through acquiring a local coil spring manufacturer, following the newly established plant in Mexico and the production line for stabilizers installed in the existing China plant.

    By utilizing fundamental resources of the new subsidiary, Mitsubishi Steel Mfg Co Ltd will install new equipment to produce stabilizers, in addition to maximizing synergy effect with the existing domestic and overseas manufacturing capabilities, and proceed to further global business expansion.

    General information of the new subsidiary
    (1) Company name - Gebruder Ahle GmbH & Co KG
    (2) Location - Lindlar, Nordrhein Westfalen, Germany
    (3) Representative - Gotz-Peter Ander, Managing Director
    (4) Business segment - Design, produce and sale of various kinds of springs used for automotives, etc
    (5) Capital - 3 million Euro
    (6) Foundation - 1904

    Name of the new subsidiary after transaction is planned to be "MSSC Ahle Deutschland GmbH" (tentative)

    Schedule
    (1) Resolution at Board of Directors meeting December 8, 2017
    (2) Date of signing Definitive Agreement Late December 2017 (Plan)
    (3) Closing Late February 2018 (Plan)

    Source : Strategic Research Institute
  2. forum rang 10 voda 12 december 2017 16:54
    MMK to acquire EG steel maker Lysva Metallurgical Plant

    Magnitogorsk Iron & Steel Works announces that it has completed a transaction to acquire 100% of the shares of Lysva Metallurgical Company (LMC Group).

    LMC Group includes Lysva Metallurgical Company LLC, Lysva Metallurgical Plant CJSC and the Insajur-Autotrade-TL LLC trading company. LMC is Russia’s only producer of electrogalvanised coated rolled products. Its products are used in the automobile, construction and engineering sectors. LMC produces a wide range of coated products, including next generation materials with unique consumer properties under the Steel Art brand. The company can produce 350 thousand tons of cold-rolled coated steel per year.

    MMK CEO Pavel Shilyaev said: “The acquisition of LMC will strengthen MMK by expanding our product range. In addition, the transaction will help to increase the Group’s overall operational efficiency and competitiveness by increasing production volumes and sales of High Value Added (HVA) products. The transaction forms part of MMK’s strategy

    Source : Strategic Research Institute
    Bijlage:
  3. forum rang 10 voda 12 december 2017 16:55
    India is second largest electricity based steel producer in the world

    According to the World Steel Association, India is the third-largest steel producer in the world after China and Japan, having surpassed other large steel-making countries such as the United States, Russia, and South Korea over the previous decade. In 2016, about 57% of India’s steel was produced using electric-based methods, which is the second-highest proportion of electric-based steel production among major steel producers, behind only the United States. Most other large producers use basic oxygen steelmaking processes.

    Two unique features of the steel industry in India are the large-scale use of electric induction furnaces for electric-based steelmaking and the reliance on coal, rather than natural gas, to produce direct reduced iron (an intermediate input in the steelmaking process).

    About half of India’s electric-based process steel is made using electric induction furnaces rather than the internationally more common electric arc furnaces. Electric induction furnaces use induction to convert materials such as scrap, direct reduced iron, or pig iron into steel. These furnaces use alternating magnetic fields to induce an electric current, which then heats up because of electric resistance.

    Electric induction furnaces tend to operate at much smaller scales compared with other more common basic oxygen furnaces or electric arc furnaces. Electric induction furnaces typically produce less than 20 tons per batch; basic oxygen furnaces can produce approximately 250 tons per batch; and electric arc furnaces produce approximately 170 tons per batch.

    Although China and Japan produce more steel, India is the largest producer of direct reduced iron (DRI) in the world. Direct reduced iron can be used in all major types of steel furnaces. Unlike direct reduced iron-making facilities in other countries, which largely use natural gas, most of the direct reduced iron produced in India is powered by coal. For this reason, DRI produced in India is much more carbon intensive than DRI produced in facilities in other parts of the world.

    According to EIA’s International Energy Outlook 2017, India’s coal consumption is projected to grow by nearly 3% per year between 2015 and 2040 as a result of iron and steel industry growth and relatively intensive coal use in DRI.

    Source : Strategic Research Institute
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  4. forum rang 10 voda 12 december 2017 16:59
    ArcelorMittal South Africa names Mr Kobus Verster as new CEO
    Published on Tue, 12 Dec 2017

    Reuters reported that ArcelorMittal South Africa has chosen the former head of construction firm Aveng to take over as chief executive from next February. Mr Kobus Verster, who was Aveng’s chief executive for nearly four years, served as the steelmaker’s head of finance from 2006 to 2010 and held various other senior positions at the South African unit of ArcelorMittal after 1990.

    Verster takes the reins from Wim de Klerk, who spent his two years at the helm cutting costs to stem losses and angling for emergency steel tariffs to protect the local industry against cheap imports the company had said was hurting its business.

    Source : Reuters
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  5. forum rang 10 voda 12 december 2017 16:59
    NMDC increase in ore price irks steel producers

    The Hindu reported that increase in the price of iron ore by domestic suppliers, mainly the National Mineral Development Corporation has upset the steel producers. Industry sources said that the nominal increase at regular intervals in tune with the international price has impacted small and marginal producers who manufacture TMT bars.

    The Rashtriya Ispat Nigam Limited, the corporate entity of Visakhapatnam Steel Plant, needs 10 million tonne of iron ore per annum to produce 6.3 million tonne of steel. As it is the only major producer without captive mines in the country, it depends mainly on the NMDC for meeting its raw material requirement by getting it by train from Bailadilla mines in Chhattisgarh. Sources said that though compared to the other players, it may absorb the increase in raw material price without much difficulty, but it would certainly affect its finances.

    Mr VV Krishna Rao director of Steel Exchange India Limited told The Hindu that “It has picked up well and the steel market is also doing well. The steel price has also gone up in the past two weeks.” He said the NMDC should not jack up the price based on some appreciation in the international market in the larger interest of small and marginal players in the industry.

    He said they were producing 1,000 tonne of Simhadri TMT bars and the price of steel had also gone up by a few thousand rupees. He said the price was expected to pick up further going by the market sentiment.

    With increased thrust on construction and conferring infrastructure status to logistics, the demand for steel is expected to register an impressive rise in demand. Now, premium quality steel is sold at INR 40,000 to INR 42,000 per tonne.

    Source : The Hindu
  6. forum rang 10 voda 12 december 2017 17:00
    Iran steel exports up by 27pct in Mar to Nov

    Financial Tribune reported that major Iranian steelmakers exported 4.56 million tonnes of semi-finished and finished steel products during the first eight months of the current fiscal year (March 21 to November 21), registering a 27% growth compared with last year’s corresponding period. The Iranian Mines and Mining Industries Development and Renovation Organization reported that Khouzestan Steel Company zoomed past all rivals in the period under review, as it exported 1.73 million tonnes of slab, bloom and billet, up 57% YOY. KSC has sustained a double-digit growth each month so far this year. Bloom exports had the lion’s share of KSC's shipments with 829,168 tonnes and went up 165% YOY. Billet exports came next with 474,258 tons up 11%, followed by slabs with 431,957 tonnes, growing 18% YOY.

    Esfahan Steel Company was the second biggest exporter during the eight months, with 742,375 tonnes of beam, rebar, coils and other products shipped overseas, up 83% YOY. Rebar made up 103,717 tons of ESCO’s overall exports, dropping 3% YOY. It was followed by beam and coil with 72,195 tonnes and 39,963 tons respectively. Beam shipments were down 30% YOY, while coil exports surged 996%. Steel products listed as "other" made up 526,500 tonnes of all the exports, up 177% YOY.

    Hormozgan Steel Company retained its spot as the third largest exporter by shipping 777,897 tonnes of slabs, up 5% YOY. The steelmaker’s exports in the eighth month rose by 8% YOY to 152,738 tonnes. As a subsidiary of Iran’s largest steelmaker Mobarakeh Steel Company, HOSCO has outperformed its parent company in exports for five months in a row so far this year.

    Mobarakeh took the fourth spot as it exported a total of 727,381 tonnes of hot and cold-rolled, acid-washed, tin-plated, coated, checkered and galvanized flat steel during the eight months, down 41% YOY.

    Source : Financial Tribune
  7. forum rang 10 voda 12 december 2017 17:10
    Goa miners demand lower duty on high grade ore – Report

    News Indian Express reported that mining industry in Goa has asked the Union government to lower the export duty on high grade ore stating that iron ore exports from Goa are falling. Goa Mineral Ore Exporters’ Association’s Secretary Mr Glenn Kalavampara said that the buyers are seeking better grade ore which is above 58 % grade. Mr Kalavampara said that "Industry is really under pressure. There is demand for high grade ore but the exports are not feasible due to the high export duty. Export duty on high grade ore should be lowered.”

    State Chief Minister Mr Manohar Parrikar during his recent Delhi visit has already requested the centre to lower the export duty on the high grade ore.

    Figures from the State Mines and Geology department showed that for the months of October-November, the exports of iron ore from Goa has fallen by almost 75 % compared to the same period last year.

    For the year 2016, the exports for October-November were 2.84 million metric tones which has come down to 0.68 million metric tones for the same period this year, the statistics revealed.

    The mining industry which is trying to be back on its feet after the long mining ban was lifted in the year 2014 is now hoping on the lowering of export duty levied by union government on high grade ore.

    They said that when the mining activity had stopped last year before the rains, as many as 41 iron ore leases were operational, but this time, hardly around ten leases have started their activity.

    Industry members said that Goa was expecting a decent mining season after the monsoons, But delayed rains and falling prices for low grade ore in the international markets has made it a poor season.

    The consignments of iron ore from Goa are sent through Mormugao Port Trust, located in Vasco town.

    Source : New Indian Express
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  8. forum rang 10 voda 12 december 2017 17:11
    Australia’s mining sector is about to take off again

    Business Insider reported that activity in Australia’s mining sector will accelerate this financial year, according to forecasts by industry analysts BIS Oxford Economics. The Mining in Australia 2017 to 2032 report says mining exploration, production, and maintenance are all expected to lift significantly through 2018. It will track higher in subsequent years as strengthening global economic growth supports commodity prices and underwrites new investment and mining operations expenditure.

    Mr Rubhen Jeya BIS Oxford Economics economist said that “The enormous investment boom is now translating into production, particularly within oil and gas, where Australia is expected to become the leading LNG exporter by 2022.”

    Mr Jeya added that “Growth in mining production will be roughly double the pace of the national economy over the next five years.”

    And the completion of a USD 200 billion wave of LNG projects over the coming year will see aggregate mining investment fall further over the next two years.

    However, this masks the start of a new cycle of investment across a range of commodities including copper, gold, coal and iron ore.

    The completion of the Wheatstone, Ichthys and Prelude projects will subtract a further USD 20 billion in mining investment over the next two years.

    Excluding oil and gas, mining investment elsewhere is expected to grow at a double-digits over 2017-18 and 2018-19.

    Higher prices for most commodities over the past year have already seen a turnaround in exploration activity, which is forecast to rise 8.7% in 2017-18 and nearly 40% over the next five years.

    The strong turnaround in prices has boosted miners’ profitability, with maintenance activity to be the biggest winner, according to the report.

    Mr Jeya said that “Maintenance has taken the brunt of cost cutting efforts in recent years.”

    Mr Jeya added that “With higher utilisation across a much larger post-boom asset base, we expect maintenance activity to rise nearly 60% in real terms over the next five years, offering crucial opportunities for contractors. But it really is a very different story by commodity and region around Australia in this space.”

    Source : Business Insider
  9. forum rang 10 voda 13 december 2017 16:47
    Allow legitimate promoters to bid for stressed assets - JSW Steel

    The Hindu Business Line reported that JSW Steel, which is in the race to acquire strained assets, has come in support of stressed ‘legitimate promoters’ who have been barred from bidding for their own companies that have been put under the hammer by the National Company Law Tribunal (NCLT). Mr Sajjan Jindal, Chairman, JSW Steel, tweeted on Tuesday: “Existing promoters (of NPA companies) are allowed to control the management in non-NCLT cases with deep debt restructuring involving large haircuts if they are not wilful & non-cooperative borrowers. If so, why to differentiate in #NCLT cases to debar legitimate promoters in bidding process?”

    Concurring with Jindal’s view, Mr Seshagiri Rao, Joint Managing Director, JSW Steel, told Business Line the law should distinguish between legitimate promoters and wilful defaulters as some of the steel companies to be auctioned have turned sick due to external factors such as ban on iron-ore mining, disruption in coal supply and cheap steel imports. He said “There cannot be two set of norms for stressed companies in NCLT cases, where promoters are banned, and another for companies outside its purview, where promoters are allowed to take over their company after banks take huge haircuts.”

    With the NCLT banning promoters from bidding for their own companies, banks fear the value of assets will be beaten down and they have to take hefty haircuts.

    Source : The Hindu Business Line
  10. forum rang 10 voda 13 december 2017 16:50
    This Week's Raw Steel Production

    Sign up for the weekly Raw Steel Update newsletter.

    In the week ending on December 9, 2017, domestic raw steel production was 1,672,000 net tons while the capability utilization rate was 71.7 percent. Production was 1,607,000 net tons in the week ending December 9, 2016 while the capability utilization then was 67.8 percent. The current week production represents a 4.0 percent increase from the same period in the previous year.

    Production for the week ending December 9, 2017 is down 2.8 percent from the previous week ending December 2, 2017 when production was 1,720,000 net tons and the rate of capability utilization was 73.8 percent.

    Adjusted year-to-date production through December 9, 2017 was 85,053,000 net tons, at a capability utilization rate of 74.5 percent. That is up 4.3 percent from the 81,558,000 net tons during the same period last year, when the capability utilization rate was 70.5 percent.

    Broken down by districts, here's production for the week ending December 9, 2017 in thousands of net tons: North East: 202; Great Lakes: 607; Midwest: 169; Southern: 621 and Western: 73 for a total of 1672.

    The Raw Steel production tonnage provided in this report is estimated. The figures are compiled from weekly production tonnage provided from 50% of the domestic producers combined with monthly production data for the remainder. Therefore, this report should be used primarily to assess production trends.

    The AISI production report "AIS 7", published monthly and available by subscription, provides a more detailed summary of steel production based on data supplied by companies representing 75% of U.S. production capacity.
    Note: Capability for the Fourth Quarter 2017 is approximately 30.6 million tons compared to 30.7 million tons for the same period last year and 30.6 million tons for the Third Quarter of 2017.

    www.steel.org/about-aisi/statistics.aspx
  11. forum rang 10 voda 13 december 2017 16:50
    Monnet Ispat first stressed firm to get bid – Report

    Business Standard reported that Monnet Ispat & Energy has become the first stressed company to get resolution plans from prospective bidders. JSW Steel is learnt to have submitted its resolution plan along with AION Capital. JSW Steel will have a majority stake in the special purpose vehicle that proposes to take over a part or all of Monnet Ispat & Energy. Sources close to JSW said the company was likely to be the only bidder.

    Tata Steel had earlier expressed an interest in Monnet. When contacted, a Tata Steel spokesperson said, "We evaluate strategic opportunities for growth. This is an ongoing process."

    Monnet Ispat & Energy owns a 1.5 million tonne integrated steel plant along with a 0.8 million tonne sponge iron plant, a 2 million tonne pellet plant, a 0.96 million tonne sinter plant and a 230 MW captive power plant in Chhattisgarh. The company also has 7.5 million tonnes of coal beneficiation facilities in Chhattisgarh and Odisha.

    Source : Business Standard
  12. forum rang 10 voda 13 december 2017 17:00
    Rake shortfall keeps steel and pellet makers in a bind - Report

    Business Standard reported that an acute shortfall of railway rakes meant for iron ore movement has hurt the supplies of the raw material to steel and pellet manufacturers across the country. As rakes are getting increasingly diverted to meet the coal requirement of thermal power producers, there are not enough rakes to despatch iron ore. An industry source said the wagon shortage for iron ore transport has reached to 75 per cent.

    A senior executive with a steel company said “Nearly 75 per cent of the steel industries operating in the country are dependent on external iron ore supplies. There is a growing crisis of iron ore supplies to steel and iron ore pellet units as adequate rakes are not available. Stocks of ore within steel plants is tapering and the units are operating below their design capacities.”

    A leading miner in Odisha admitted that the rake shortage for iron ore had turned critical. He said “For each key iron ore freight loading point in the state, we are getting only a third of the actual requirement of rakes. The situation has hurt iron ore despatches within the country and also exports.”

    A pellet manufacturer said “Allocation of rakes for pellet exports should be on priority over the export of iron ore fines and other minerals considering iron ore pellet as an environmental friendly and value-added commodity and can contribute to the foreign exchange reserve of the country in a bigger way than mineral export.”

    Coal demand has risen due to fall in nuclear power and hydro-power generation. This has led to more rakes being diverted for coal movement to independent power producers (IPPs). The thrust is on more allocation of rakes for coal for IPPs, resulting in lesser supplies of coal and iron ore to the steel and pellet industries that are now operating below the utilisation level.

    Source : Business Standard
  13. forum rang 10 voda 13 december 2017 17:04
    ArcelorMittal Hamburg set up three new wind turbines

    Published on Wed, 13 Dec 2017

    Hamburg Energie, the city's municipal green electricity supplier, in partnership with ArcelorMittal Hamburg, has set up three new wind turbines, each with a capacity of 3 MW, on the steelmaker's site. The turbines, connected to the grid, increase the amount of renewable energy Hamburg generates and consolidates its position as Germany's wind capital. The three wind turbines tower about 180 meters into the sky, the height of an average 54 storey building. With an equally impressive rotor diameter of about 117 meters, each one harvests more than 10,700 square meters of wind - that's about one and a half football fields. The three plants produce a good 23 GWh a year, which would meet the electricity requirements of more than 8,000 households.

    By successfully implementing this project, Hamburg Energie has not only increased the production of clean electricity in a densely populated urban area, it has also overcome the logistical challenges of building such huge structures on land shared with a functioning steelworks. Another major consideration was ensuring the structures meet all the required safety regulations. Nordex, the turbines' manufacturer, took care of all of this, developing complex fire protection systems, as well as installing cameras to enable visual inspections, and built-in ice sensors. They even added special canopies to ensure the safety of the plant and its employees. All of this means the three wind turbines are tailored exactly to the place they stand and offer a combination of features that is so far unique in onshore installations.

    Mr Lutz Bandusch CEO of ArcelorMittal Europe, long products, bars and rods said that "With the installation of the three wind turbines, ArcelorMittal is making another contribution to sustainable steel production in Hamburg. We are already a particularly environmentally friendly and energy-efficient steel manufacturer with a direct reduction plant. We continue to drive forward investments in the future. As an industrial company, we are also involved in the new district heating project to supply the city of Hamburg."

    Mr Michael Prinz MD of HAMBURG ENERGIE GmbH said that "Our priority and our mission is to advance the energy transition in the north - and especially here in Hamburg. This can also be implemented in tight, urban spaces, as HAMBURG ENERGIE shows again with this project. We need flexible, individual solutions to the challenges of each location; then even industrial areas with sensitive operating facilities are suitable as wind farms. To implement it, dedicated partners are needed, who contribute to the success with a lot of experience and know-how - my special thanks go to them. In the meantime, HAMBURG ENERGIE can produce a large part of its own electricity demand in its own regenerative plants, which our customer households need. This is a proud record and an important contribution to the climate protection goals of the city of Hamburg. "

    Mr Olaf Scholz, First Mayor of the Free and Hanseatic City of Hamburg said that "These three new wind turbines are proof that Hamburg and its entrepreneurs actively support the expansion of renewable energies, even in the heart of the port, and make it their business. The fact that ArcelorMittal as the world's largest producer of steel has made this project possible is another clear signal. To place the principle of renewable energy in such a central industrial area is a forward-looking connection."

    Environment Senator Jens Kerstan said that "I am delighted that with the three new wind turbines at ArcelorMittal, 65 wind turbines are now producing almost 115 megawatts of renewable energy in our city. That would be enough to supply 100,000 households with electricity. Here, the energy feeds the company's own network and relieves the energy-intensive nature of a steelworks. It is a good, real step on the way to energy transition. The project is proving successful, which is possible even on difficult terrain for wind turbines, especially here in the port, when applicants, neighbouring companies and the licensing authority all pull together. "

    Jean Graff, Ambassador of the Grand Duchy of Luxembourg said that "Based in Luxembourg, the ArcelorMittal group, today the world's leading steelmaker, shows that it fully meets the demands of digitisation by producing innovative products. Furthermore, the group confirms that it makes its contribution to achieving climate protection goals both with wire rod from Hamburg or steel for wind turbines, but also with climate-friendly and energy-efficient production processes - such as the use of electricity from wind power. The fact that ArcelorMittal is doing this in both the German and Luxembourg production sites underlines the shared pioneering role."

    Source : Strategic Research Institute
    Bijlage:
  14. forum rang 10 voda 13 december 2017 17:05
    AK Steel increase carbon flat-rolled steel prices by USD 30 per tonne
    Published on Wed, 13 Dec 2017

    AK Steel announced that it will increase current spot market base prices for all carbon flat-rolled steel products by a minimum of USD 30 per ton, effective immediately with new orders.

    Source : Strategic Research Institute
  15. forum rang 10 voda 13 december 2017 21:55
    Iran mineral production in 8 months up by 11pct

    Financial Tribune reported that major Iranian mining companies produced 228.32 million tonnes of different mineral products during the first eight months of the current fiscal year, registering an 11% growth compared with last year’s corresponding period. Iranian Mines and Mining Industries Development and Renovation Organization’s latest report showed that production in Aban, the eighth month of the Iranian year ending Nov. 21, indicates a 21.64% year on year rise to 29.87 million tons.

    Iran is home to 68 types of minerals with over 37 billion tonnes of proven and 57 billion tonnes of potential reserves, including large deposits of coal, iron ore, copper, lead, zinc, chromium, uranium and gold.

    Iron ore concentrate had the biggest share in Iran’s mineral production during the period under review with 24.86 million tonnes, registering an 18% growth YOY.

    Gologhar Mining and Industrial Complex accounted for 9.19 million tonnes of the total output, followed by Chadormalu Mining and Industrial Complex with 5.60 million tonnes, Iran Central Iron Ore Company with 3.28 million tonnes, Goharzamin Iron Ore Company with 2.66 million tonnes, Middle East Mines and Mining Industries Development Holding Company with 2.49 million tonnes, Opal Parsian Sangan with 1.43 million tonnes and Sangan Iron Ore Complex with 190,940 tonnes.

    Production of granulated iron stood at 3.95 million tonnes, down 2% YOY. Sangan Iron Ore Complex was the biggest producer with 1.23 million tonnes, followed by Iran Central Iron Ore Company with 1.05 million tonnes, Jalal Abad Iron Ore Company with 605,681 tonnes, Iran Central Plateau Iron Ore Company with 619,842 tonne, Chadormalu Mining and Industrial Complex with 245,505 tons and Mishdavan Iron Ore Company with 199,879 tonnes.

    Pellet had the second largest share with a total output of 20.8 million tonnes, up 26% YOY. Golgohar was the largest producer with 7.17 million tonnes, followed by Mobarakeh Steel Company with 5.08 million tonnes, Khouzestan Steel Company with 4.29 million tonnes, Chadormalu with 2.23 million tonnes and MIDHCO with 2.03 million tonnes.

    Direct-reduced iron came next with the production of 12.65 million tonnes, up 14% YOY. Mobarakeh had the lion’s share with 4.95 million tonnes, followed by KSC with 2.76 million tonnes, Hormozgan Steel Company with 1.03 million tonnes, South Kaveh Steel Company with 977,690 tonnes, Saba Steel Complex with 715,300 tonnes, Khorasan Steel Company with 768,588 tons, Ghadir Iron and Steel Company with 570,697 tonnes, MIDHCO with 541,035 tons, Sefiddasht Steel Complex with 242,636 tonnes and Esfahan Steel Company with 93,840 tonnes.

    Source : Financial Tribune
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  16. forum rang 10 voda 13 december 2017 21:56
    Vale could benefit from a move to quality in iron ore

    Marketrealist reported that Vale has changed its product portfolio and quality in iron ore according to market demand. In 2017, it’s more focused on selling high-quality ore since China’s fight against pollution has led to a huge variance between high-grade and low-grade material. Vale plans to lower the amount of ore sold from its southern mines, which is lower quality ore, to 8% in 2018 from 22% in 2016. Iron ore with a content of 62% and above is trading at a premium to the sub-62% ore, and the differential is expected to expand due to the ongoing shift toward lower polluting sources of ore. Currently, China is paying almost five times more premium than it was paying two years ago. Vale expects its average premium to be USD 3.50–USD 4.50 per tonne in 2018 and USD 3.50 per tonne in 2017 compared to USD 1.70 per tonne in 2016. That’s expected to add up to USD 350 million in EBITDA for Vale in 2018.

    Vale is also focusing more on dry processing. While the company is currently dry processing 40% of its ore, in 2020, it plans to dry process 70%. The process could be very cost-effective. Vale also put out a slide showing how, because of an increasing share of dry processing and strip ratio optimization, its operational yield is becoming higher than its peers. In 2014, Vale had only 4% higher operational yield. Now, the gap is increasing and is expected to be 10% in 2017 and 17% in 2018. That implies that its peers could be going more for wet processing, which could ultimately negatively impact costs.

    Vale expects unit costs to fall across the board as new mines ramp up. Its own costs are expected to fall significantly with the continued ramp-up of its S11D project. As production volumes from S11D increase from 22 million tons in 2017 to 90 million tonne in 2020, the unit C1 cash costs are expected to fall to USD 7.70 per tonne from USD 14.50 per tonne currently. That would make Vale the lowest cash cost producer among the major iron ore miners. Its peer Rio Tinto had a unit cost of USD 13.80 per tonne for its Pilbara operations in the first half of 2017. BHP’s unit cost for fiscal 2017 (ended June 2017) was USD 14.60 per tonne. Cleveland-Cliffs, which has different drivers than its seaborne peers, also reduced its production costs in the United States.

    Source : Marketrealist
    Bijlage:
  17. forum rang 10 voda 15 december 2017 16:33
    Steel News - Published on Fri, 15 Dec 2017


    Reuters reported that German steel distributor Kloeckner & Co is not working on a bid for Thyssenkrupp’s Materials Services unit. A spokesman for the company said in response to a media report that “There are currently neither talks between Kloeckner & Co and Thyssenkrupp over a tie-up with the Material Services division nor are we preparing an offer for it.”

    German monthly Manager Magazin earlier reported that Kloeckner CEO Gisbert Ruehl would soon propose a joint venture under the leadership of his company, taking advantage of growing shareholder criticism over Thyssenkrupp’s slow turnaround.

    Ruehl had said in October that parts of Thyssenkrupp’s Materials Services, which generates more than twice the annual sales of Kloeckner, would be a good strategic fit.

    About two thirds of Materials Services’ EUR 13.8 billion in sales come from Thyssenkrupp’s materials distribution business, which competes with Kloeckner, Salzgitter and U.S.-listed Reliance Steel & Aluminum.

    Source : Reuters
  18. forum rang 10 voda 15 december 2017 16:33
    Chinese crude steel output in November dips by 8.6% MoM due to war on smog

    National Bureau of Statistics announced that China's crude steel output slid by 8.6% MoM to 66.15 million tonnes in November, lowest in nine months, but up by 2.2% YoY as state-imposed curbs aimed at battling smog slowed production at mills in the northern part of the country. Daily average steel output dropped to 2.205 million tonnes in November from 2.334 million tonnes in October. Over January-November, China's crude steel output totaled 764.80 million tonnes up by 5.7% YoY ie monthly average of 69.5 million tonnes. Output will continue to fall further with the curbs in place through March. That will likely keep steel prices up

    China ordered steel mills and coke plants in 28 cities to cut production between November 15 and March 15 to help clear the country’s smoggy skies. The move has reduced steel supply at a time when demand from southern regions was firm, helping lift steel prices by nearly 10% last month.

    Source : Strategic Research Institute
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  19. forum rang 10 voda 15 december 2017 16:40
    Indian Steel Industry performance in April - November 2017 - JPC

    As per the latest provisional data from JPC, Indian crude steel production during April-November 2017 was 66.7 million tonnes, a growth of 4.5% YoY and production for sale of total finished steel was 69.604 million tonne, up by 5.1% YoY, while consumption of total finished steel saw a growth of 4.2% to climb to 56.778 million tonne. Import of total finished steel increased by 16.9% YoY to 5.534 million tonne while export of total finished steel was up by 57.1% to 6.639 million tonnes.

    Crude Steel - During April-November 2017, crude steel production was 66.70 million tonnes, a growth of 4.5% YoY. SAIL, RINL, Tata Steel, Essar, JSW & JSPL together produced 38.242 million tonnes during April- November 2017 which was a growth of 6.5% YoY. The rest i.e. 28.458 mt came from the Other Producers, which was a growth of 2% YoY. Overall crude steel production in November 2017 (8.305 mt) was down by 3.8% MoM over October 2017 but was up by 3.6% YoY.

    Hot Metal - During April-November 2017, hot metal production was 43.681 million tonnes, a growth of 1.5% YoY. SAIL, RINL, Tata Steel, Essar, JSW & JSPL together produced 35.939 million tonnes during April - November 2017 which was a growth of 3.1% YoY. The rest i.e. 7.742 million tonnes came from the Other Producers, which was a decline of 5.4% YoY. Overall hot metal production in November 2017 (5.545 million tonnes) was down by 3.6% MoM but was up by 3.8% YoY.

    Total Finished Steel Production for sale - Production for sale of total finished steel at 69.604 million tonnes, registered a growth of 5.1% YoY. SAIL, RINL, Tata Steel, Essar, JSW & JSPL together produced 40.224 million tonnes during April - November 2017 which was a growth of 9.0% YoY. The rest came from the Other Producers, which was a decline of 6.2% YoY. Overall production for sale of total finished steel in November 2017 (8.342 million tonnes) was down by 9.7% MoM but was up by 6.4% YoY.

    Exports - Export of total finished steel was up by 57.1% in April-November 2017 (6.639 million tonnes) over same period of last year. Overall exports in November 2017 (1.012 million tonnes) was up by 29.9% over October 2017 and was up by 53.6% over November 2016.

    Imports - Import of total finished steel at 5.534 million tonnes in April-November 2017 was up by 16.9% YoY. Overall imports in November 2017 (0.614 million tonnes) was up by 1.7% over October 2017 and was up by 2.5% over November 2016. India was a net exporter of total finished steel in November 2017 as also during April-November 2017.

    Consumption - India’s consumption of total finished steel saw a growth of 4.2% in April-November 2017 (56.788 million tonnes) over same period of last year, under the influence of rising production for sale and imports. Overall consumption in November 2017 (6.412 million tonnes) was down by 14.8% over October 2017 but was up by 1.9% over November 2016.

    Source : Strategic Research Institute
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  20. forum rang 10 voda 15 december 2017 16:44
    Lenders seeking to extend deadline for Essar Steel resolution plans - Report

    Bloomberg Quint, citing to two people familiar with the matter, reported that lenders are looking to extend the deadline for submission of final resolution plans in the case of Essar Steel Ltd. The sources told “Additional time is needed both for potential bidders to complete due diligence and for existing promoters to reassess their plans in light of recent amendments to the Insolvency and Bankruptcy Code.”

    The report quoted a source as saying that “Committee of Creditors will now approach the NCLT for permission.”

    The person added that the amendments to the IBC have necessitated the extension in timeline.

    The sources added “Essar Steel’s promoters are still weighing their options.It is tough to say at this stage whether they would challenge the ordinance or clear their over dues in order to participate in the resolution process.”

    An insolvency petition against Essar Steel was admitted by the Ahmedabad bench of the National Company Law Tribunal on August 2. The IBC lays down a 180-day timeline within which a resolution plan has to be finalized. This can be extended by a maximum of 90 days. The Committee of Creditors had approved an extension of the timeline

    Satish Kumar Gupta, the resolution professional in Essar Steel, had sought expressions of interest for the company by October 23. On Oct 24, BloombergQuint reported that ArcelorMittal, Sumitomo Corporation, Vedanta Resources Plc, Tata Steel Ltd. and Steel Authority of India Ltd. have submitted expressions of interest for a resolution plan. The Ruias, who are the promoters of Essar Steel, had also shown interest.

    Source : Bloomberg Quint
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