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Home  /  Forum  /  Arcelor Mittal  /  Nieuws en info hier plaatsen (deel 4)

Aandeel ArcelorMittal AEX:MT.NL, LU1598757687

Laatste koers (eur) Verschil Volume
22,990   +0,780   (+3,51%) Dagrange 22,570 - 22,990 448.346   Gem. (3M) 2,5M

Nieuws en info hier plaatsen (deel 4)

Volgen
35.173 Posts
Pagina: «« 1 ... 731 732 733 734 735 ... 1759 »» | Laatste | Omlaag ↓
  1. forum rang 10 voda 19 januari 2018 15:35
    Recycling industry should be treated as separate industrial sector – Steel Minister Mr Birender Singh

    Times of India reported that India’s Union minister for steel Chaudhary Birender Singh called for a separate classification for the recycling sector in order to nurture and encourage industries that recycle plastic and metal. He told "If we establish this industry, recycling industry should be considered as a separate industry. When we talk of industry, we talk of MSME, handicraft, big industries, integrated steel plants and secondary steel. Recycling industry should be given a new distinct name and it should be separate from the general industry as such."

    Explaining what he meant by recycling industry, Singh said that all forms of recycling should be classified into this distinct sector.

    He added "The objective is to strengthen recycling industry, to make it more prominent in our scheme of things and to also ensure that this becomes a part and parcel of our national GDP. It requires lot of protection also.”

    Going further, Singh said that granting special status to the recycling sector would help create extra employment in the country.

    Source : Times of India
  2. forum rang 10 voda 19 januari 2018 15:36
    Metalloinvest purchases new traction units for Mikhailovsky GOK

    Two new traction units have been put into operation at Mikhailovsky GOK (part of Metalloinvest). This new equipment was purchased as part of Metalloinvest's investment program to increase production efficiency. The new electric locomotives have an increased capacity, which will enable the Company to increase the number of dump trucks used from 10 to 11, if required.

    The electric locomotives will be used to transport iron ore from the very lowest levels of the open-pit mine, which is currently 370 metres, to the crushing and beneficiation plant.

    The bodies of the new traction units are highly reliable, and the units are equipped with a microprocessor-based management system, which reduces operational and maintenance expenditures. The driving cabs are exposed to lower sound and vibration levels and are air conditioned.

    As part of the implementation of the investment programme to update Lebedinsky GOK and Mikhailovsky GOK's mining and transportation equipment from 2014-2017, Metalloinvest purchased over 350 basic units of equipment: 19 traction units, 298 dump trucks, 22 heavy dump trucks, 13 excavators and 7 drilling rigs, in addition to smaller pieces of equipment. Two more excavators and a heavy truck arrived at the enterprises under lease agreements.

    Source : Strategic Research Institute
    Bijlage:
  3. forum rang 10 voda 19 januari 2018 15:37
    NLMK USA production update

    NLMK announced that its sales went up by 21% YoY to an all time high 2.24 million tonne backed by high demand from key consumers in the US, including pipe manufacturers, construction companies and machine builders.

    Slab supplies from NLMK Lipetsk were up by 25% yoy to 1.59 m t to cover the growing needs of the Division's rolling capacities.

    Q4 2017 performance
    Sales: Down by 3% qoq to 0.55 m t due to the seasonal weakening of demand and reduced buying activity during the Christmas break.

    The 31% yoy growth was associated with the relaunch of the and restocking by traders and consumers driven by reduced competition with imports.

    NLMK USA includes NLMK Indiana, NLMK Pennsylvania, and Sharon Coating. Operating data for NLMK USA are shown in metric tonnes.

    Source : Strategic Research Institute
  4. forum rang 10 voda 19 januari 2018 15:38
    EVRAZ Q4 and FY 2017 PRODUCTION REPORT

    EVRAZ plc released its operational results for the fourth quarter and full year of 2017.

    Q4 2017 vs Q3 2017 OPERATIONAL HIGHLIGHTS:

    1. In Q4 2017, EVRAZ’ consolidated crude steel output remained stable QoQ at 3.5 million tonnes.

    2. Consolidated output of steel products, net of re-rolled volumes, rose by 5.7% QoQ to 3.3 million tonnes, mainly due to higher steel product output at EVRAZ ZSMK’s mill amid planned capital repairs of blast furnace no. 2 in June and July.

    3. Higher volumes of semi-finished products led to increased steel product output at the Russian steel mills, net of re-rolled volumes. Meanwhile, output of construction products fell, reflecting the seasonal slowdown in demand for construction products in Russia and the impact of changes to the sales mix.

    4. Railway product output grew, driven by the completion of repairs at EVRAZ ZSMK’s rail mill in Q3 2017, which had impacted production volumes in that period.

    5. In North America, output of crude steel and steel products were almost unchanged from Q3 2017.

    6. In Q4 2017, output of raw coking coal decreased, primarily due to scheduled longwall repositioning at the Alardinskaya and Uskovskaya mines. Output of coking coal concentrate climbed by 7.8% QoQ (inventories were used in production) due to greater market demand, better washing plants performance and debottlenecking of logistics capacities.

    FY 2017 vs FY 2016 HIGHLIGHTS:

    1. In 2017, consolidated crude steel production and steel product output, net of re-rolled volumes, increased by 3.8% and 3.2%, respectively. This was mainly attributable to improved market demand in North America and higher crude steel production at EVRAZ ZSMK following the completion of planned capital repairs at its blast furnaces in 2016.

    2. Output of steel products, net of re-rolled volumes, at the Russian steel mills reflected higher volumes of semi-finished products, while output of construction products fell in line with the change in the sales mix.

    3. Railway product output at EVRAZ NTMK rose amid improved market conditions and higher production of railway products in North America after Class I railroads finished destocking.

    4. Greater production of flat-rolled products was triggered by higher production volumes at EVRAZ Palini e Bertoli. It was accompanied by higher output in North America due to improved demand, primarily from the wind tower and energy segments.

    5. In North America, output of tubular products (oil country tubular goods, or OCTG, and small-diameter line pipe) improved thanks to the strong market recovery.

    6. Production of coking coal concentrate grew by 6.2% YoY. This was driven by higher annual output at the Raspadskaya mines and Mezhegeyugol in 2017.

    Source : Strategic Research Institute
  5. forum rang 10 voda 19 januari 2018 15:42
    Karnataka government admits to having goofed up in sale of iron ore

    Bangalore Mirror reported that trying to be ‘smart’ in its actions before the Supreme Court, the state government found itself in an embarrassing situation on January 17th 2018. Covering up its gaffe pertaining to mining, the state government has not only decided to initiate action against erring officials, but also stepped up vigilance around mining areas so that not a single load of iron ore is transported illegally. However, the officials’ botch-up has provided the Opposition parties enough ammunition to pounce on the government, especially ahead of the polls.

    While banning mining activities across Karnataka, the Supreme Court had allowed only two government companies NMDC and MML to carry out mining activities in the state.

    Further, the apex court had also revised target for production of iron ore by these companies. But, the Karnataka mining firms, especially in Ballari, failed to meet the target set by the SC owing to limited technical infrastructure.

    However, covering up its inefficiency, the state government submitted inflated figures on mining production to Indian Bureau of Minies (IBM). Later realising its mistake during the annual audit, the officials chose to underreport the production in the subsequent years to match the SC target and thereby attempt to correct the past mistake. Even though the annual figures have more or less remained the same, the huge mismatch of production on monthly basis alarmed the government, prompting Mining Minister Vinay Kulkarni to order an inquiry into the entire episode.

    Acknowledging the goof-up, Mr Kulkarni said that “MML was extracting about 10 lakh metric tonne of iron ore at Subbarayanahalli and Thimmappanagudi village in Ballari district. However after the SC’s revised target, the MML was supposed to extract 40 lakh MT of ore annually which was four times higher than its capacity. The company, contrary to the target, could only produce only 16 lakh MT in the ensuing years. But officials, unwilling to reveal their incapability of mining such huge quantity ore, initially chose to submit inflated figures about production to IBM and later adjusted this with the actual production in the subsequent years.”

    During the annual audit as soon as the inflated figures were noticed by then MML MD Hemalatha, the mining minister was quick to order an inquiry into the mismatch between mined ore and processed ore. Sensing a whiff of fresh mining scam, JD-S state president HD Kumaraswamy alleged last week that state government had illegally lifted INR 5,450 crore worth iron ore and sold through MML and demanded CM Siddaramaiah an inquiry into the episode.

    Mr Kulkarni said that “I fully agree with HDK that there was a mismatch between what had been mined and what had been processed. Even though the government records have actual details of what had been produced and sold, the ‘katchha book’ maintained at the mining site had inflated figures. This mismatch of figures triggered all confusion.”

    A senior MML official told BM that a female officer, who was posted at the mining site quite blindly recorded in the Katchha book that trucks carried 20 tonne per trip. “Considering the load-bearing capacity of tippers, each vehicle can carry only 14 to 15 tonne of ore. But the official chose to enter it as 20 tonne, triggering the issue. As the state was supposed to levy penalty on contractors for failing to lift ore as per target, officials wanted to avoid the fine and presented inflated figures. But as soon as the minister took over and held a review of the department, the mismatch was noticed and he immediate ordered for the enquiry,” the official said.

    After ordering a detailed inquiry, the minister directed officials to increase vigilance all around the mining area. “We have set up CCTVs at the mining site besides installing a weighing bridge.We will not spare those who were responsible for this mismatch,” he said.

    Countering the BJP and JD-S in the ensuing polls, the Congress-led state government has a new weapon in its hand Illegal mining. Following the CBI’s decision to return the illegal mining cases back to the Karnataka government, the state cabinet on Wednesday decided to start fresh inquiry into the cases through Special Investigation Team (SIT) constituted by the state government.

    The CBI, which was probing into the illegal export of iron ore from 9 ports of Karnataka, Goa, Tamil Nadu and Andhra Pradesh had recently returned the cases to the state government citing lack of evidence and suggested that if it wishes it can continue with the investigation. The Siddaramaiah-led Congress government in the state that exposed the illegal mining scam refused to let down the issue and the state cabinet has now entrusted the SIT to probe into these cases. “ TB Jayachandra, Law minister said that the state government-constituted SIT would take up investigations into these cases. “Of the 9 ports, the CBI had returned the cases pertaining to ports at Goa and Karnataka. CBI sleuths were never given permission to inquire at Chennai Port and enquiry in Andhra Pradesh ports are still going on by the CBI,” the minister said. The government’s move will cast shadow on prominent BJP and JDS leaders as fresh FIRs will be registered against them and Congress could go all out against these leaders during the polls.

    Source : Bangalore Mirror
  6. forum rang 10 voda 19 januari 2018 15:44
    Centre wants Odisha to ramp up iron ore output

    Business Standard reported that union mines ministry has exhorted Odisha's iron ore mine leaseholders to expand production to match the approved limits under environmental clearance. The closure of seven working mines in Odisha has triggered sharp price hikes by lessees as well as the country's top producer NMDC Ltd.

    The operational mines held by Serajuddin & Company, Mesco Steel, state-run Industrial Corporation of Odisha Ltd (Idcol) and others were closed on January 1 this year after they failed to pay out the Supreme Court-mandated compensation in a case of overproduction between 2000-01 and 2010-11. The deadline for paying penalties was December 31, 2017. The shutdown of these mines is estimated to knock off 20 million tonnes of iron ore capacity each year.

    A senior ministry official said that "We have asked the iron ore miners in Odisha to ramp up their production to EC limits. There is headroom to increase production by 20 per cent. Miners must produce up to the limits under EC and other statutory approvals to ensure there is no artificial shortage of ore.”

    With a production of 102 million tonnes in last fiscal, Odisha was the country's largest producer, contributing more than 50 per cent to the pan-India output of 190 million tonnes. In the ongoing fiscal, miners in the state have approved EC to produce 180 million tonnes. There are barely 40 operational iron ore mines in Odisha. Major merchant producers are meeting the EC run rate in iron ore production.

    But, the mines producing lower grade ore (58 to 62 per cent Fe) are finding it tough to liquidate their stock because of lack of demand.

    A mining industry source said that "There is lack of demand for lower grade iron ore in the domestic market. Such ore cannot be exported due to the prevailing 30 per cent export duty. This has led to accumulation in inventory at the mine heads.”

    The domestic demand for iron ore is quite subdued due to slowdown in the Indian steel industry. The country produced 191 million tonnes of iron ore in last fiscal and against this, only 107 million tonnes was consumed domestically. Nearly 25 million tonnes were exported, mostly from Goa and smaller quantities from Odisha, the biggest producer. With the production-demand imbalance in the domestic market, iron ore stockpile at mine heads has gone up to 149 million tonnes (as on March 31, 2017).

    Out of the total stockpile, 122.83 million tonnes or 85 per cent are in Odisha and Jharkhand. Odisha also accounts for 58 per cent of the total stockpile in the country. It is observed that of the total stockpile, 70 per cent are below 62 per cent Fe (both lumps and fines). Fines constitute 93 per cent of the all-India stockpile of below 62 per cent Fe in these two states. The increasing stockpile year after year is squeezing the available space in mines for continuing iron ore production. Unless the stockpile is liquidated, increase in production of iron ore would be affected. Since there is no domestic demand for iron ore up to 62 per cent Fe, mining lobby body Federation of Indian Mineral Industries (Fimi) feels that the only alternative is to export. The iron ore from Odisha and Jharkhand can be exported only from Haldia, Paradip, Visakhapatnam and Dhamra ports.

    Source : Business Standard
  7. forum rang 10 voda 19 januari 2018 15:45
    NMDC targets 10 MTPA iron ore from each mine

    Daily Pioneer reported that NMDC Ltd is targeting to achieve 10 million tonnes of iron ore production per annum from each of its mines in Chhattisgarh by 2024-25. Official sources informed that the company has also sought 7.116 hectares forest land diversion for its iron ore concentrate pipeline in Dantewada district of Bastar.

    Officials informed that notably, NMDC will also be seeking Right of Use (ROU) / Right of Way (ROW) permission for developing a land corridor for its Slurry Pipeline project from Bailadila to Nagarnar in Bastar region of Chhattisgarh.

    NMDC, which is in the process of laying a 15 million tonnes per annum slurry pipeline is executing the project in two phases.

    The first phase is being executed from Bacheli to Nagarnar in Bastar region of Chhattisgarh at an estimated outlay of INR 4,000 crore; and the second phase will be executed from Nagarnar to Vizag in Andhra Pradesh at an outlay of INR 6,000 crore, officials informed.

    Notably, to transport pellet feed concentrate from Bailadila to Vizag via Jagdalpur, the company will have the pipeline laid along the highways with a provision of partial off-take to feed its proposed 3 million tonnes per annum Steel plant coming up at Nagarnar.

    The blast furnace to be used for manufacturing steel at NMDC Ltd’s upcoming 3 million tonnes per annum Steel Plant at Nagarnar in Bastar region of Chhattisgarh could also emerge as one of India’s largest when commissioned at the plant.

    Officials informed that the company has commenced work for setting up the 2.0 million tonnes per annum Pellet Plant at Nagarnar near Jagdalpur in Bastar region of Chhattisgarh.

    Notably, the company has made a capital expenditure of INR 4.76 crore as on September 2016 for development of its Bailadila iron ore mines in Bastar region of Chhattisgarh during the last financial year, officials informed.

    The company is now going for construction of the 5th iron ore screening line at its existing screening plant number 2 at Bailadila Iron Ore Mine at Kirandul complex in Dantewada district of Bastar region.

    It may also be recalled that NMDC has proposed to use its mine lease area at Deposit number 4 located at Bailadila range of hills at Bhansi near Bacheli in South Bastar’s Dantewada district in Chhattisgarh for meeting the raw material requirement 'exclusively' for its upcoming 3 million tonne per annum Integrated Steel Plant at Nagarnar, officials informed.

    Source : Daily Pioneer
  8. forum rang 10 voda 19 januari 2018 15:45
    BHPB Iron Ore production update for December 2017

    BHPB announced that its total iron ore production for the December 2017 half year was in line with the same period last year at 117 million tonne, or 136 million tonne on a 100 per cent basis. Guidance for the 2018 financial year remains unchanged at between 239 and 243 million tonne, or between 275 and 280 million tonne on a 100% basis, with volumes weighted to the second half of the financial year as expected.

    At WAIO, record production at Jimblebar and Mining Area C was offset by the impact of lower opening stockpile levels following the fire at the Mt Whaleback screening plant in June 2017, and planned maintenance in the previous quarter. Volumes increased by 11% from the September 2017 quarter with a record annualised rate of 284 million tonne (100 per cent basis) achieved for the December 2017 quarter. The higher volumes reflect increased plant availability and improved rail performance. Port debottlenecking activities were completed in the December 2017 quarter and will support higher volumes in the second half of the financial year.

    BHP continues to work with the relevant authorities in relation to the necessary approvals to increase system capacity to 290 million tonne per annum (100 per cent basis).

    Mining and processing operations at Samarco remain suspended following the failure of the Fundão tailings dam and Santarém water dam on 5 November 2015.

    Source : Strategic Research Institute
  9. forum rang 10 voda 19 januari 2018 15:50
    SIT to probe cases of illegal iron ore export from four ports

    Ahead of the Legislative Assembly polls in the State, the Congress government has decided to reopen the illegal iron ore export cases closed by the Central Bureau of Investigation by authorising the Special Investigation Team to probe afresh the cases of illegal export of ore.

    A State Cabinet meeting chaired by Chief Minister Siddaramaiah accepted the recommendation of the Cabinet subcommittee, headed by Rural Development and Panchayat Raj Minister Mr HK Patil, that recommended the SIT probe.

    The decision was taken in the wake of the of CBI closing the cases of illegal export of iron ore through New Mangalore Port Trust, Karwar, Panaji, and Marmagoa ports citing “lack of prima facie evidence”.

    An SIT probe might put BJP leaders in an embarrassing spot during the run-up to the polls.

    Mr. Siddaramaiah became Chief Minister in 2013 after he conducted a padayatra to Ballari against illegal mining during the BJP regime.

    Briefing reporters on the Cabinet decisions, Law and Parliamentary Affairs Minister TB Jayachandra said the SIT would get all the records transferred from the CBI. Illegalities in export of iron ore was exposed by former Lokayukta N Santosh Hegde.

    Explaining the Cabinet decisions, Mr Jayachandra said the CBI had conducted the probe following the Supreme Court order after hearing a petition of the Samaj Parivartan Samudaya.

    The CBI probed the cases involving export of over 50,000 tonnes, while state SIT was given cases below 50,000 tonnes. Mr. Jayachnadra said the SIT has completed its probe into 72 cases so far and filed charge sheets in 22 cases. The Cabinet decided to confiscate the properties of those involved in these cases to recover loss to the state exchequer from illegal mining.

    A report of the Karnataka Lokayukta exposed the scam had estimated the total loss to exchequer due to illegal export of iron ore from NMPT and Karwar ports at about INR 16,000 crore in four years (2006-2010). The expose had forced former chief minister BS. Yeddyurappa to resign.

    It is said that 130 companies (54 in Mangaluru and 76 in Belekeri) are involved in exporting 3.65 lakh tonnes of iron ore from Karnataka ports. ?

    The CBI had in its communication to the State government expressed its “helplessness” in continuing the probe into illegal iron ore exports from NMPT and Karwar port due to lack of adequate evidence.

    Meanwhile, SIT which is probing into cases of illegal ore export below 50,000 tonnees has registered 72 cases so far and filed charge sheets in 22 cases.

    Source : Hindu
  10. forum rang 10 voda 19 januari 2018 18:51
    Beursblik: consensus wijst op stabiele winst voor ArcelorMittal
    EBITDA van ruim 2 miljard dollar.

    (ABM FN-Dow Jones) ArcelorMittal heeft in het vierde kwartaal van 2017 vermoedelijk een vergelijkbare winst geboekt als een kwartaal eerder, maar flink meer dan in dezelfde periode vorig jaar. Dit bleek vrijdag nabeurs uit de door het staalbedrijf opgestelde analistenconsensus.

    De consensus gaat uit van een bedrijfsresultaat (EBITDA) van 2.048 miljoen dollar voor het afgelopen kwartaal en 8.315 miljoen dollar voor heel 2017.

    In het vierde kwartaal van 2016 lag het bedrijfsresultaat op 1.661 miljoen dollar.

    In het derde kwartaal van 2017 behaalde ArcelorMittal een bedrijfsresultaat van 1.924 miljoen dollar.

    Op een groen Damrak sloot het aandeel ArcelorMittal vrijdag 0,8 procent hoger op 30,10 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
  11. forum rang 10 voda 22 januari 2018 19:04
    Britain GFG Alliance confirms bid to secure future of flagship French steel businesses

    Liberty House, part of Sanjeev Gupta's GFG Alliance, UK's fastest growing industrial group, confirmed that it will today (19th January) make an unconditional and comprehensive offer to acquire the assets of Asco Industries and Ascoval, securing the jobs of close to 1,600 employees at six operations across France, as well as many supplier jobs. The offer made to the court by the global group covers all locations in the Asco group; at Saint Saulve, Fos-sur-Mer, Les Dunes, Hagondange, Marais and Custine and secures almost 1 million tonnes of steelmaking capacity in France.

    Liberty plans to invest more than EUR 300 million over five years to stabilise and grow the business including capital investment of EUR 100 million to upgrade the sites and expand output.

    Key features of the offer include the retention of the entire operation at Fos-sur-Mer near Marseille, including its previously threatened wire mill, and the gradual expansion of liquid steel making at Saint Saulve. Liberty will apply its GREENSTEEL sustainable production strategy to the French operations utilising recycled metal in the manufacture of technically advanced and engineering products.

    Under the proposal confirmed today, Liberty has committed to protect the jobs of over 1,500 permanent employees and around 60 apprentices and pursue a wide-ranging development plan which complements its existing speciality steels business.

    Each of the sites in the new combined business serves a separate and specific industrial sector, resulting in a more focused and balanced approach to the market.

    Hagondange will focus on manufacturing steel products for the automotive sector, Les Dunes will serve the oil and gas sector and Fos-sur-Mer will produce a range of bearings for industrial uses. This will complement the sites in the UK that service the aerospace and mechanical engineering sectors.

    Liberty’s offer to acquire the Asco Industries and Ascoval businesses will be formally presented to the Court next Wednesday, 24th January, with a decision expected soon afterwards.

    The GFG Alliance is being advised by a group of firms led by Lazard.

    Source : Strategic Research Institute
  12. forum rang 10 voda 22 januari 2018 19:05
    Steel ministry in talks with Railways to find a fix for rake shortages

    Press Trust of India reported that the steel ministry is in talks with Railways to ensure adequate availability of rakes for industries that have been saying the problem has led to a shortage of raw materials at plants, according to Union minister Chaudhary Birender Singh. On being asked about the measures the steel ministry is adopting to sort out the railway rake shortage issue, the minister said, "...this is a problem.

    We are talking to the Railways Ministry (in this regard)," Singh told PTI.

    The government understands that market is very important for business; and for the market, transportation is very essential, the minister said. Power industry body Indian Captive Power Producers Association (ICPPA), whose members include players from key sectors such as steel and aluminium, had urged the government to ensure coal availability, saying most captive power producers (CPPs) are facing a severe shortage of the fuel, which may lead to the closure of plants.

    Besides, Railways is also doing "choosy deliveries", it said. To meet their loading targets, the zonal railway is making deliveries to plants that are near pits and this is something which is not justified, ICPPA secretary general Rajiv Agarwal had said.

    Source : Press Trust of India
  13. forum rang 10 voda 22 januari 2018 19:06
    Liberty House joins the fray of Bhushan Steel - Report

    Money Control reported that even as submission of bids for the troubled steelmaker Bhushan Steel has been delayed by a week, a new player in the form of NRI industrialist Sanjeev Gupta and his UK-based Liberty House has joined the race. While January 18 was earlier the last day for bids to be submitted, now it has been extended to January 25. An official from one of the companies expected to put in a bid, told Moneycontrol that “We got a notice on Wednesday informing us of the change in dates.”

    The delay has only heightened the race for Bhushan Steel, which was referred to the National Company Law Tribunal after piling up Rs 46,000 crore in debts. The Delhi based company has a prized asset in its Odisha-based plant, and also has access to iron ore mines.

    A spokesperson for the Liberty Group said that "We won't be able to comment anything at the moment.”

    But sources close to Gupta said that the entrepreneur is keen to invest in stressed assets in India. The source said that "This is the best time to invest, and Liberty House has presented its expression of interest for the stressed steel assets on the block.” The executive added that the Group is also looking at other steel assets on the block

    Source : Money Control
  14. forum rang 10 voda 22 januari 2018 19:07
    Allow honest promoters to bid for assets - Mr Anil Agarwal

    Economic Times reported that promoters whose debt-laden companies are being auctioned by banks should be allowed to make a bid for their own firm if they have not siphoned off money, said Vedanta Group chairman Mr Anil Agarwal, who has himself bid for Electrosteel which will help add 10%-20% value to his iron ore business.

    Indian entrepreneurs have felt the heat in recent weeks as the government has not allowed them to bid for their own companies that the banks are auctioning to recover debt and reduce the burden on non-performing assets.

    Mr Agarwal said hardly 10% of such cases involve unscrupulous entrepreneurs. To a question if promoters of companies should be allowed to bid, he said tha "They should be (allowed) as long as he has been honest That is the case all over the world ... Industry is such that 2-3 businesses out of 10 won't work. That doesn't mean he should be sunk. If a person has not done something wrong and business goes bad, it is not a crime. That is acceptable. Business is not surety. If he siphons off money for himself, he should be give the biggest punishment."

    The corrupt businessmen deserve no sympathy, he said.

    Mr Agarwal said that "You need strict action against those who did wrong things, but these are not more than 10%. For other people, (government should) strengthen the norms. Today, no bank gets a call to favour anybody. Today you cannot influence banks."

    Source : Economic Times
  15. forum rang 10 voda 22 januari 2018 19:08
    Damages still being assessed at AK Steel fire in Middletown

    Dayton Daily News reported that it will take fire officials several weeks to determine the cause and cost of a fire at AK Steel’s Middletown Works on Saturday morning that took 60 firefighters from four fire departments a few hours to put out. Company and fire officials said a cracked vessel holding molten steel ignited the large fire. According to Middletown Fire Chief Paul Lolli, the molten steel ignited other equipment and the building when it poured out at the Basic Oxygen Furnace which is located in the 3400 block of Lefferson Road at the sprawling complex.

    The incident was initially reported as heavy smoke coming from the structure about 8:30 a.m. During the fire, there were some reports that included molten metal reportedly flowing through the building and the second floor concrete collapsing at one point, causing crews to be removed from the first floor.

    Deputy Fire Chief Jeff Spaulding said the ladle holding the molten steel apparently was released before being poured into molds.

    A company statement said “There have been no employees injured — all employees have been accounted for, and cleanup efforts are underway. We are looking into the cause of the situation and have no further information at this time.

    Source : Dayton Daily News
  16. forum rang 10 voda 22 januari 2018 19:09
    Rostec supplies USD 37 million equipment to SAIL and RINL plants

    Money Control reported that Russia's Rostec State Corporation has completed two projects for SAIL and Vizag Steel for a total cost of over USD 37 million. Rostec projects include construction of a heavy-duty machinery for Vizag Steel and upgrade of a Soviet-era equipment supplied to Bokaro steel plant of SAIL in the 1970s. "JSC 'VO Tyazhpromexport', a Rostec State Corporation company, completed implementation of two projects for the Indian steel industry in 2017.

    Within the contracts, Indian partners were supplied with new sinter production equipment for iron founding and upgrade of existing equipment was performed for a total cost of over USD 37 million. A new sintering machine with a capacity of 3.6 million tonne of sinter per year was built for the Vizag Steel plant in Visakhapatnam. For SAIL, a sintering machine of the plant in Bokaro, supplied to India from the USSR back in the 1970s, was upgraded and modernised. The equipment is designed to produce sinter, essential in the production of cast iron. Certificates of final acceptance of work on both contracts have been received.

    This is a significant step in Russia's cooperation in the field of heavy industry and infrastructure projects, said Rostec Victor Kladov, Director for International Cooperation and Regional Policy, RSC. He said that "We have more to offer the Indian side. In particular, set up of a single stage production of cast iron by means of the Russian technology 'Romelt' using poor ores and energy coals.”

    The statement said the construction of the third sintering machine for Vizag Steel plant, at a cost of USD 29 million, is part of the plant expansion project to increase overall capacity to 6.3 million tonne of steel per year. The scope of work includes supply of basic technological equipment, construction, installation, testing of equipment, commissioning of the facility, as well as staff training.

    Source : Money Control
  17. forum rang 10 voda 22 januari 2018 19:11
    US starts move to slap tariffs on Korean steel

    Korea Joongang Daily reported that United States has begun the process to determine whether to impose anti-dumping tariffs on steel for the production of oil pipes imported from Korea and five other countries, the Korea International Trade Association said Friday. The move comes amid concerns the US government is moving to slap anti-dumping tariffs and other trade barriers on Korean steel products.

    The Donald Trump administration has invoked Section 232 of the Trade Expansion Act, a rarely used tool that allows emergency trade sanctions on “national security” grounds in an apparent precursor to fresh trade barriers to foreign steel imports. While on the campaign trail in 2016, Trump has said steel is a big problem.

    In April last year, Trump ordered a probe into whether steel imports undermined US national security.

    KITA said that US International Trade Commission began the process at the request of US steel makers which demanded the US government impose 23.52 percent of antidumping tariffs on Korean large diameter welded pipes.

    Hyundai Steel and Seah Steel exported a combined USD 150 million worth of large diameter welded pipes to the US last year. The five other countries are China, Canada, Greece, India and Turkey. The ITC is set to announce a preliminary ruling by March 5 on whether the foreign steel products either damaged or has the potential to threaten the US domestic industry substantially.

    The US Commerce Department will make a final decision on whether to impose the anti-dumping tariffs in case the ITC brings the case to the department. The United States currently imposes anti-dumping duties on 82 percent of Korean steel products brought into the world’s largest economy.

    The Seoul government has said it will actively tackle any unfair trade barriers that can be imposed on Korean products by foreign countries, including filing complaints with the World Trade Organization.

    In November last year, Korea won a case at the WTO against the US over anti dumping duties that Washington slapped on Korean steel pipes.

    In July 2014, the US Commerce Department levied 9.9% to 15.8% anti dumping duties on oil country tubular goods (OCTG) imports from Hyundai Steel, Nexteel, Seah Steel and Husteel.

    OCTG is one of the fastest growing sectors in the pipelines market and Korean producers enjoyed a boom in the North American country’s oil and gas industry.

    Five months later, Korea submitted an appeal with the WTO against the tariff, arguing that the US calculation of margins for Korean products was not “reasonable” when compared to the rate of global profit margins.

    The WTO dispute settlement panel sided with Seoul’s claim that the US incorrectly applied the term “same general category of products” in determining for OCTG products and didn’t use the actual profit data.

    Korea exported USD 818 million worth of OCTG to the US in 2013, but the amount shrank to USD 262 million in 2015 and USD 271 million in 2016.

    Source : Korea Joongang Daily
  18. forum rang 10 voda 22 januari 2018 19:14
    Government allows import of non-standard steel via two more ports

    Financial Express reported that the commerce ministry has allowed imports of non-standard steel products through Nhava Sheva, Mumbai and ICD-Tughlakabad in the national capital. Earlier, import of these non-prime products called as seconds or defectives were not permitted through these ports. The Directorate General of Foreign Trade said in a notification that “Imports of seconds/defectives of steel items…shall be allowed also through Nhava Sheva and at ICD-Tughlakabad, New Delhi, besides the existing customs sea port at Mumbai, Chennai and Kolkata.”

    The DGFT under the commerce ministry deals with export and import related matters. The terminologies like ‘Non-Prime’ or ‘Seconds & Defective’ or ‘Second Grade’ are commonly used in steel trade and industry.

    Though, generally speaking, these cover products which are not prime, means, not tested as per the relevant standards specification, there is no laid down criteria or definition for classifying a given products on the basis of their actual characteristics, according to the information provided on the website of the steel ministry.

    The steel ministry has laid out certain guidelines and criteria for identification of the non-prime (second & defective) steel products based on their characteristics.

    Source : Financial Express
  19. forum rang 10 voda 22 januari 2018 19:14
    ARS Steels to invest INR 40 crore for expansion

    Business Line reported that ARS Steels Pvt Ltd will invest INR 40 crore for expansion and modernisation of its plant in Chennai. The company will also start exporting steel in March. Addressing mediapersons at the launch of a premium steel product, ARS Pixon, in Chennai, Mr Ashwani Kumar Bhatia, Chairman and Managing Director, said the company would expand the capacity from 1.8 lakh tonnes a year to 2.3 lakh tonnes by March 2019.

    The company, a prominent player in Chennai, is exploring opportunities for expansion in Karnataka and Andhra Pradesh. Bhatia said Bengaluru is a good market with few players in the premium segment. The company is exploring setting up a factory in Hosur with an investment of ?200 crore with capacity of 3.6 lakh tonnes.

    Mr Bhatia said that “Market in countries such as Sri Lanka, Myanmar and Maldives are opening up and that again is a huge opportunity for us.” The company will begin exports in March.

    Source : Business Line
  20. forum rang 10 voda 22 januari 2018 19:17
    Severstal reports Q4 & FY 2017 operational results

    PAO Severstal one of the world’s leading vertically integrated steel and steel-related mining companies, today announces its operational results for Q4 2017 & FY 2017.

    Q4 2017 GROUP HIGHLIGHTS

    1. Hot metal output increased 5% to 2.34 mln tonnes (Q3 2017: 2.23 mln tonnes) compared with the previous quarter, and crude steel production was up 2% at 3.01 mln tonnes (Q3 2017: 2.94 mln tonnes).

    2. Consolidated steel product sales declined 2% to 2.78 mln tonnes compared with the previous quarter (Q3 2017: 2.86 mln tonnes) after significant stock sell-off in Q3. Meanwhile, the Company replenished stocks of steel products at its export subsidiaries in Q4. Semi-finished product volumes growth was driven by Mill-2000 maintenance works and increased demand for billets in Q4.

    3. The Company increased export sales volumes to 42% (Q3 2017: 35%). The share of high value-added (HVA) products within the sales portfolio remained high at 47% (Q3 2017: 49%) driven by the continued destocking of large diameter pipes (LDP).

    4. Coking coal concentrate sales volumes from Vorkutaugol declined 10% impacted by the long-wall repositioning at the Komsomolskaya mine and the normalisation of production volumes of “Concentrate K” coal after an uptick in Q3.

    5. Iron ore pellet sales increased 39% and totalled 3.30 mln tonnes (Q3 2017: 2.38 mln tonnes) due to the realisation of a significant share of finished goods in transit in Q4, shifted from the previous quarter. Iron ore concentrate sales increased 6% q/q to 1.14 mln tonnes (Q3 2017: 1.08 mln tonnes). Iron ore concentrate sales improvement in Q4 reflects the consolidation of the Yakovlevskiy mine.

    6. In Q4 2017 raw material prices were high: HCC prices were mainly supported by supply disruptions at Dalrymple Bay (Australia) and Chinese restocking ahead of the heating season. Iron ore prices recovered as a result of higher steel margins in China and improved demand for higher quality iron ore. Global export steel prices remained high on the back of Chinese production restrictions in the November-March heating season and decreased exports. Though Russian steel demand softened due to seasonal factors, Russian export prices followed global trends and are expected to increase in Q1 2018. Industry experts anticipate Russian steel demand to continue growing in 2018 by 3-4%.

    7. In 2018, Severstal Resources anticipates an increase in production volumes of additional 40kt of pellets at Karelsky Okatysh and additional 370kt of coking coal concentrate at Vorkutaugol. Yakovlevskiy mine iron ore output is estimated to be c.1.3 million tonnes for 2018. Severstal Russian Steel production volumes growth will be positively impacted by a new ladle furnance (+75kt of crude steel) and a new HDG (+400kt) and colour-coating (+200kt) unit.

    Voor cijfers, zie bijlage.

    Source : Strategic Research Institute
    Bijlage:
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