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Aandeel ArcelorMittal AEX:MT.NL, LU1598757687

  • 23,540 25 apr 2024 17:35
  • -0,100 (-0,42%) Dagrange 23,170 - 23,690
  • 2.802.569 Gem. (3M) 2,5M

Nieuws en info hier plaatsen (deel 4)

35.173 Posts
Pagina: «« 1 ... 949 950 951 952 953 ... 1759 »» | Laatste | Omlaag ↓
  1. forum rang 10 voda 19 februari 2019 19:37
    GMS Market Commentary on Shipbreaking in Pakistan in Week07 - TERMINAL LULL!

    Despite the positivity displayed in competing Indian and Bangladeshi markets, Pakistan remains stranded in a near terminal lull, with muted fundamentals and minimal demand that has resultantly seen the domestic ship-recycling sector grind to a near perfect standstill. Port reports remain virtually empty and there is little hope of that changing any time soon, given that prices are the lowest in the sub-continent and that too by a decent margin.

    Even with Bangladesh filling up, there is little hope of Pakistan stepping into the action, unless a noteworthy improvement in fundamentals and sentiments is forthcoming.

    GMS Weekly

    Source : Strategic Research Institute
  2. forum rang 10 voda 19 februari 2019 19:41
    Usiminas announced Q4 and 2018 results

    Usiminas announced Q4 and 2018 result. The main operational and financial indicators in 2018 were:
    1. Steel sales volume of 4.2 million tons;
    2. Iron ore sales volume of 6.5 million tons;
    3. Consolidated Adjusted EBITDA of ZAR 2.7 billion and Adjusted EBITDA margin of 19.6%;
    4. Working capital on 12/31/18 of ZAR 4.0 billion;
    5. Cash position on 12/31/18 of ZAR 1.7 billion;
    6. Investments of ZAR 462.7 million.

    Net Revenue
    Net revenue in the 4Q18 was ZAR 3.4 billion, against ZAR 3.9 billion in the 3Q18, an 11.3% decrease, mainly due to lower steel and iron ore sales volume in the period.
    In 2018, net revenue was ZAR 13.7 billion, a 28.0% increase over 2017, which was ZAR 10.7 billion, in function of higher average prices and volumes of steel and iron ore over the year.

    Zie PDF

    Cost of Goods Sold - COGS
    In the 4Q18, COGS totaled ZAR 3.1 billion, against ZAR 3.2 billion in the 3Q18, a 5.2% decrease. In 2018, COGS was 11.5 billion, a 26.6% increase compared to 2017, which was ZAR 9.1 billion. For further information, see the Business Unit section of this document.

    Gross Profit
    Gross profit was ZAR 375.9 million in the 4Q18, against ZAR 644.3 million in the 3Q18, a 41.7% decrease. Gross margin was 11.0% in the 4Q18, against 16.7% in the 3Q18.
    In 2018, gross profit totaled ZAR 2.2 billion, against ZAR 1.6 billion in 2017, a 35.5% increase. Gross margin was 16.1% in 2018, against 15.2% in 2017.

    Production - Ipatinga and Cubatao Plants
    In the 4Q18, crude steel production at the Ipatinga plant was 714 thousand tons, against 845 thousand tons in the 3Q18 due to a programmed maintenance stoppage of Blast Furnace #3. In the 4Q18, finished product production in the Ipatinga and Cubatao plants totaled 1.04 million tons, stable in relation to the 3Q18, which was 1.07 million tons.

    In 2018, crude steel production at the Ipatinga plant totaled 3.09 million tons, against 3.01 million tons in 2017. Finished steel production at the Ipatinga and Cubatao plants totaled 4.24 million tons in 2018, against 4.04 million tons in 2017, a 4.9% increase.

    Zie PDF

    Sales
    Sales totaled 1.0 million tons of steel in the 4Q18, against 1.1 million tons in the 3Q18, a 7.3% decrease. In the domestic market in the 4Q18, sales were 905 thousand tons, against 992 thousand tons in the 3Q18, a 8.7% decrease. Export market sales were 120 thousand tons in the 4Q18, a 4.7% increase over the 3Q18, which was 115 thousand tons. Sales volume was destined 88% to domestic and 12% to export markets in the 4Q18.

    In 2018, total sales volume reached 4.2 million tons, a 4.3% increase over 2017, which was 4.0 million tons. Domestic market sales were 3.7 million tons, against 3.4 million tons in 2017, a 6.1% increase. In the export market, sales totaled 548 thousand tons, a 6.4% decrease over 2017, which was 585 thousand tons. Sales volume was destined 87% to domestic and 13% to export markets.

    Net revenue in the Steel Unit was ZAR 3.2 billion in the 4Q18, 6.9% lower, compared to the 3Q18, which was ZAR 3.4 billion, mainly due to lower domestic sales volume by 8.7%, partially compensated by higher export market volume by 4.7%. The average prices in the domestic market in 4Q18 were stable in relation to the 3Q18, a slight increase of 0.2%.

    In the 4Q18, cash cost per ton was ZAR 2,274/t, against ZAR 2,109/t in the 3Q18, a 7.8% increase, mainly due to higher iron ore costs by 21.7% and coal, by 18.8%, in addition to higher personnel cost by 17.6%, due to lower absorption of fixed cost due to lower production volume as a result of the programmed stoppage for Blast Furnace #3 maintenance, partially compensated by lower slab cost by 3.3%. In the 4Q18, 319 thousand tons of purchased slab were processed, against 306 thousand tons in the 3Q18.

    Cost of Goods Sold - COGS - was ZAR 2.9 billion in the 4Q18, stable in relation to the 3Q18. COGS per ton was ZAR 2,801/t in the 4Q18, a 7.5% increase in relation to the 3Q18, which was ZAR 2,606/t, mainly due to higher expenditures with major repair and with higher barge and export freight costs.

    Sales expenses were ZAR 75.0 million in the 4Q18, 107.2% higher to those in the 3Q18, which were ZAR 36.2 million, mainly due to provision for doubtful accounts in the amount of ZAR 34.0 million, accounted for in the quarter and higher distribution costs due to higher volume exported in the period.

    In the 4Q18, general and administrative expenses totaled ZAR 95.5 million, against ZAR 76.4 million in the 3Q18, a 25.0% increase, mainly due to greater third party services expense (attorney fees).

    Other operating expenses and income were a negative ZAR 108.2 million in the 4Q18, against a negative ZAR 89.4 million in the 3Q18, a 21.0% increase, mainly due to:

    1. Loss by impairment in the amount of ZAR 529.3 million;

    2. Provision for loss of legal deposits of ZAR 55.8 million;

    3. Result of actuarial gains/losses of a negative ZAR 22.9 million in the 4Q18, against a negative ZAR 0.6 million in the 3Q18;

    4. Negative result of ZAR 1.7 million in the sale of surplus electrical energy in the 4Q18, against a positive result of ZAR 18.8 million in the 3Q18;

    5. Lower tax credits related to PIS/Cofins on imports, which were ZAR 7.0 million in the 3Q18. There was no occurrence of tax credits in the 4Q18 due to finalization of the process of recovery of PIS/COFINS over the ICMS base in imports.

    These effects were partially compensated by:
    A. Recognition of the principal of tax credits in the amount of ZAR 410.9 million (accounted in the Parent Company) related to the final decision regarding the exclusion of ICMS in the base calculation of PIS and COFINS (Note ICMS tax in the base calculation of PIS and COFINS taxes);

    B. Recognition of the principal of the receivable in the amount of ZAR 186.0 million regarding the final decision related to the compulsory loan to Eletrobras (Note Compulsory Loan - Eletrobras).

    In this manner, net operating expenses and revenue totaled a negative ZAR 278.7 million in the 4Q18, against a negative ZAR 202.0 million in the 3Q18.

    Adjusted EBITDA reached ZAR 803.6 million in the 4Q18, against ZAR 577.7 million in the 3Q18, an increase of ZAR 225.9 million. Adjusted EBITDA margin was 25.1% in the 4Q18, against 16.8% in the 3Q18, an 8.3 percentage point increase.

    In 2018, net revenue of the Steel unit was ZAR 12.6 billion, against ZAR 10.0 billion in 2017, a 26.0% increase, mainly due to better domestic market and export prices and higher domestic market volumes.

    Source : Strategic Research Institute
    Bijlage:
  3. forum rang 10 voda 19 februari 2019 19:42
    GMS Market Commentary on Shipbreaking in India in Week07 - REJUVENTATED!

    Despite registering steel gains (of nearly INR 1,000 = about USD 15/Ton) through a major part of the week and ending the week at nearly the same levels, India enjoyed a rejuvenating period where optimism and local sentiments came out on top. The Indian Rupee too continues to trade at a more settled level in the low INR 71s against the US Dollar, in further signs of encouragement on local fundamentals.

    As a result, even though increasing interest and potentially firmer offerings were emanating from India this week, most Alang Buyers are still eager to wait on and bid for cheaper green tonnage (with 77 yards now certified by Class NK, RINA and IRS class, in line with the Hong Kong Convention), as a plethora of well-priced offshore units have been heading to Alang shores under tow.

    The improving sentiments are certainly well-timed, given the Bangladesh’s much anticipated slowdown and Pakistan still out of the running for the most part, the Indian market is certainly gearing up to become the focus of industry players.

    GMS Weekly

    Source : Strategic Research institute
  4. forum rang 10 voda 19 februari 2019 19:42
    Friedman Industries announces Q3 results

    Friedman Industries announced its results of operations for the third quarter. For the quarter ended December 31, 2018, the Company recorded net earnings of USD 664,773 (USD 0.09 diluted earnings per share) on sales of USD 43,326,080 compared to net earnings of USD 161,271, as adjusted for the change in accounting principle discussed below, (USD 0.02 diluted earnings per share) on net sales of USD 28,033,521 for the quarter ended December 31, 2017. Effective April 1, 2018, the Company changed its method for valuing prime coil inventory of the coil segment from the last-in, first-out method to the average cost method. The effects of the change in accounting principle from LIFO to average cost have been retrospectively applied to the quarter ended December 31, 2017 results. The Company believes the average cost method is preferable as it more closely resembles the physical flow of our inventory, it better matches revenues with expenses and it aligns with how we internally manage our business. As a result of the retrospective application of the change in accounting principle, certain financial statement line items in the Company’s consolidated balance sheet as of March 31, 2018, consolidated statement of operations for the three month and nine month periods ended December 31, 2017 and consolidated statement of cash flows for the nine months ended December 31, 2017 were adjusted as disclosed in Note B – Change In Accounting Principle of our quarterly report on Form 10-Q filed with the US Securities and Exchange Commission on February 14, 2019.

    COIL SEGMENT OPERATIONS
    Coil segment sales for the 2018 quarter totaled approximately USD 28,731,000 compared to approximately USD 22,410,000 for the 2017 quarter. The increase in sales was driven by an increase in the average selling price associated with higher hot-rolled steel prices for the 2018 quarter compared to the 2017 quarter. Sales volume decreased slightly from approximately 33,500 tons in the 2017 quarter to approximately 31,500 tons in the 2018 quarter. Compared to the second quarter, third quarter margins contracted due to the price of hot-rolled steel declining significantly during the third quarter which resulted in downward pressure on selling prices. Additionally, higher cost inventory on hand flowed through cost of goods sold during the third quarter. Management expects continued margin pressure for the fourth quarter but expects the trend to reverse for the first quarter of fiscal 2020 if recent price increases from domestic steel mills gain traction. Management expects fourth quarter sales volume for the coil product segment to slightly exceed the third quarter volume.

    TUBULAR SEGMENT OPERATIONS
    Tubular segment sales for the 2018 quarter totaled approximately USD 14,595,000 compared to approximately USD 5,624,000 for the 2017 quarter. The increase in sales was primarily driven by an increase in sales volume with an increase in average selling prices being a secondary contributor to the increase. Sales volume increased from approximately 8,500 tons in the 2017 quarter to approximately 20,000 tons in the 2018 quarter. Compared to the second quarter, third quarter margins contracted due to the same circumstances mentioned for the coil segment above. Management expects continued margin compression into the fourth quarter associated with these factors and additional pressure on selling prices due to an increased presence of foreign material associated with import quotas resetting at the start of 2019.

    Friedman Industries Incorporated, headquartered in Longview Texas, is a manufacturer and processor of steel products with operating plants in Hickman, Arkansas; Decatur, Alabama and Lone Star, Texas. The Company has two reportable segments; coil products and tubular products. The coil product segment consists of the operations in Hickman and Decatur where the Company processes hot-rolled steel coils using temper mills and cut-to-length lines. The tubular product segment consists of the operations in Lone Star where the Company manufactures electric resistance welded pipe, provides pipe finishing services and distributes pipe.

    Source : Strategic Research Institute
  5. forum rang 10 voda 19 februari 2019 19:59
    GMS Market Commentary on Shipbreaking in Bangladesh in Week07 - PACKING A PUNCH!

    With port reports packed and as a collection of vessels continue to arrive locally, it has been expected (for some time now) that Bangladesh will likely endure a comparatively quieter period on the sidelines. Notwithstanding, the reality is that competing markets are still positioned some ways behind Bangladesh and thus, most Owners and Cash Buyers are continuing to focus their scrap tonnage on the highest paying market.

    Meanwhile, political instability continues to wrack the country with calls from the House of Foreign Affairs committee in Washington DC now urging an investigation into claimed election fraud in Bangladesh. Depending upon the outcome of the investigations, this could more than likely spell further economic trouble for the Bangladeshi market in the near future.

    GMS Weekly

    Source : Strategic Research Institute
  6. forum rang 10 voda 19 februari 2019 19:59
    SA Mine dispute will not affect Petmin USA pig iron plant

    Star Beacon reported that the company proposing a nearly half billion dollar pig iron project for the harbor has been the subject of controversy over its coal mines in South Amfrica, but the issues should not affect the upcoming Ashtabula project. Petmin, a South African company, is looking to build a plant at the Kinder Morgan Pinney Dock facility that could lead to several hundred construction jobs as well as more than 100 permanent, skilled jobs once complete. The company has received an Ohio EPA air permit for the project, but still has to obtain water pollution control permits prior to the start of construction.

    Petmin delisted from the Johannesburg Stock Exchange in 2017, which resulted in protests according to foreign news reports. Protests of the company have been based both on its decision to delist as well as its desire to mine anthracite a hard carbon form of coal on the border of the Hluhluwe-iMfolozi Park, which is essential to the survival of the white rhino. According to a Guardian article, “Hluhluwe–iMfolozi, the oldest nature reserve in Africa, where hundreds of rhinos, antelope and big cats graze under the wondering gaze of tourists, exists near a Petmin-owned mine where tens of thousands of people live in rudimentary conditions.”

    Petmin officials said its operations were fully compliant with all legal requirements, and accused critics of being activists who hate mining, the Guardian article states.

    Mr Bradley Doig, president and CEO of Petmin USA, said the proposed Ashtabula plant won’t use anthracite or any other type of coal in its production process. He said that “The process uses natural gas. Iron ore pellets are the primary raw material. Petmin’s anthracite operation is based in Kwazulu Natal in South Africa. It currently produces approximately 1.2 million tonnes of anthracite per year. Approximately 50% of our anthracite is sold to South African-based FerroChrome Producers, with the balance exported to various parts of the world. Approximately 15 percent of our energy product is sold to South African industrial users, with the balance exported to various parts of the globe for use in low-volatile power producers or cement manufacturing.”

    Source : Star Beacon
  7. forum rang 10 voda 20 februari 2019 11:28
    Advies van UBS over Aperam
    Beurshuis UBS
    Aandeel APERAM
    Datum 20 februari 2019
    Advies Kopen
    Koersdoel 40,00 EUR

    Detail advies
    LONDON (Trivano.com) - Op 20 februari 2019 hebben de analisten van UBS hun beleggingsadvies voor APERAM (APAM; ISIN: LU0569974404) herhaald. Het advies van UBS voor APERAM blijft "kopen".

    Het koersdoel wordt door UBS verlaagd van 43,00 EUR naar 40,00 EUR.

    Op 6 februari 2019 publiceerde APERAM zijn jaarresultaten.
  8. forum rang 10 voda 20 februari 2019 14:24
    No revised bid for Essar Steel - Vedanta

    The Hindu reported that the talks between Vedanta and JSW Steel for submitting a higher joint bid for the stressed Essar Steel asset seem to have not taken off. In response to a BusinessLine query, Vedanta said “It categorically confirms that it is not in the process of submitting any revised bid for Essar Steel and as a policy we do not comment on market speculation.”

    According to sources, Vedanta was in talks with JSW Steel the past few weeks to increase its bid from INR 36,000 crore to INR 48,000 crore with both companies contributing INR 24,000 crore each. This was seen as an effort to compete with ArcelorMittal’s bid of INR 43,000 crore, which has been approved by the Committee of Creditors and is pending before the National Company Law Tribunal (NCLT) for final approval.

    Source : The Hindu
  9. forum rang 10 voda 20 februari 2019 14:26
    Primetals continuous slab caster started at China Steel Corporation

    In December 2018, the continuous slab caster S6 upgraded by Primetals Technologies of Taiwanese steel producer China Steel Corporation was started up at the company´s Kaohsiung plant. The project included the replacement of obsolete or redundant features via the modernization of the mold and the installation of proven technology packages. The aim was to increase flexibility, product quality and to minimize breakouts. The upgrade also considers possible additional enhancement features in future. The new technology packages worked in automatic mode from the start.

    Primetals Technologies equipped the caster with three new technology packages, namely the DynaWidth hydraulic mold width adjustment to allow accurate slab width change during or between casting, the Mold Expert breakout prevention and mold monitoring system to minimize the possibility of breakouts, and the DynaFlex hydraulic mold oscillation with a new frame type oscillator which gives complete flexibility over oscillation control during casting to maximize as cast product surface quality. Primetals Technologies was responsible for design and supply, and provided advisory services during erection and commissioning. New mold parts and a new frame type DynaFlex oscillator were manufactured in Taiwan by CSC owned China Steel Machinery Corporation.

    The two-strand continuous slab caster S6 originally started up in 1996 and was equipped with a straight twin casting mold. The machine radius is around 9 meters and the metallurgical length is around 44.7 meters. It produces slabs with a thickness of 250 millimeters with widths ranging from 750 to 1,880 millimeters. Grades cast include low, ultra-low, medium and high carbon steels, peritectic, micro alloyed and high silicon steels.

    Source : Strategic Research Institute
  10. forum rang 10 voda 20 februari 2019 14:27
    No injuries from explosion at ArcelorMittal plant in Mexico

    Reuters reported that an explosion at slag tanks at ArcelorMitall’s steel plant in Lazaro Cardenas in western Mexico on Tuesday caused no injuries. It said “There was a thermal reaction in our slag pools, which produced a roar that was perceived by the city, without causing harm to people.”

    Video footage published Mexican media showed an explosion and large flames reportedly at the site.

    Source : Reuters
    Bijlage:
  11. forum rang 10 voda 20 februari 2019 19:16
    ArcelorMittal offers INR 4,800 crore for Essar Mahan under OTS - PFC

    Economic Times reported that steel giant ArcelorMittal has proposed a resolution offer of INR 4,800 crore to lender of stressed Essar Mahan power project, over 37 percent higher than offered by the promoter Essar Group. Essar Group has made a resolution offer of Rs 3,500 crore under one time settlement (OTS) scheme for Essar Mahan, which is a 2x600 MW coal based power plant situated in Madhya Pradesh.

    Power Finance Corporation's chairman and managing director, Mr Rajeev Sharma, told reporters that "We had earlier received a resolution offer of INR 3,500 crore from the developer (Essar Group) himself for Essar Mahan under OTS scheme. But, now we have received an offer from ArcelorMittal for about INR 4,800 crore.”

    Besides PFC, other lenders to Essar Mahan are ICICI Bank, which is the lead bank, Punjab National Bank, Rural Electrification Corporation. The total debt of the power plant is of INR 7,500 crore.

    Source : Economic Times
  12. Witpen 22 februari 2019 08:26
    Steel Prices Rebound After Three Months

    Steel prices in India rebounded from their lowest level in a year, cushioning the margin of steelmakers at a time global input cost hit its highest since 2014. Indian steelmakers, tracking the rates globally, hiked the benchmark hot-rolled coiled prices by Rs 1,000 to Rs 42,900 per tonne in February, according to Edelweiss Research. Steel prices have been falling for three months and hit their lowest in nearly a year in January.

    BRON: www.bloombergquint.com/business/steel...
  13. forum rang 10 voda 25 februari 2019 19:33
    Nippon Steel & Sumitomo Metal aims for higher output in 2019-20

    Reuters reported that Nippon Steel & Sumitomo Metal aims to boost crude steel output to nearly 11 million tonnes a quarter in the year from April 1, after system troubles cut production and its profit outlook this year. Nippon Steel Executive Vice President Katsuhiro Miyamoto told Reuters “We should be able to produce 11 million tonnes of crude steel a quarter, but actual output has been falling short of it in the past few years. We plan to increase our crude steel production next year from this year, which will be a key factor to grow our profits.”

    He said “Technical troubles at its mills, including Oita and Wakayama in western Japan, were due to mixed factors, lower quality of raw materials, ageing facilities, and heavier strain on its systems in processing harder and more advanced products such as high tensile steels. To fix the problems, Nippon Steel has conducted routine maintenance more often and started operating a new blast furnace in Wakayama this month, replacing a 31-year-old blast furnace, which had been the world’s oldest blast furnace in operation.”

    The average of estimated quarterly output for the financial year ending on March 31 comes in at 10.3 million tonnes.

    Source : Reuters
  14. forum rang 10 voda 25 februari 2019 19:33
    US DoC initiates AD and CVD probe on imports of large diameter pipe from Canada, Greece, China, India, Korea, and Turkey

    US Secretary of Commerce Wilbur Ross announced the initiation of new antidumping duty and countervailing duty investigations to determine whether imports of large diameter welded pipe from Canada, China, Greece, India, Korea, and Turkey are being dumped in the United States and/or if producers are receiving unfair subsidies. Secretary Ross said “With an 81% increase in trade cases initiated since President Trump took office, this Administration has made it clear that we will vigorously administer antidumping and countervailing duty laws. When initiating a trade investigation, the Department of Commerce begins an open and transparent process that allows American companies and workers to gain relief from the market-distorting effects of injurious dumping and subsidization of imports.”

    These AD and CVD investigations were initiated based on petitions filed by American Cast Iron Pipe Company (Birmingham, AL), Berg Steel Pipe Corp. (Panama City, FL), Dura-Bond Industries (Steelton, PA), Skyline Steel (Parsippany, NJ), and Stupp Corporation (Baton Rouge, LA). The estimated dumping margins alleged by the petitioners are 50.89% for Canada, 41.04% for Greece, 120.84 to 132.63% for China, 37.94% for India, 16.18 to 20.39% for Korea, and 66.09% for Turkey. The unfair subsidy programs alleged include export subsidies, inputs for less-than-adequate-remuneration, tax incentives, and subsidized loans from China, India, Korea, and Turkey.

    In the AD investigations, the Commerce Department will determine whether imports of large diameter welded pipe from Canada, Greece, China, India, Korea, and/or Turkey are being dumped in the US market at less than fair value.

    In the CVD investigations, the Commerce Department will determine whether imports of large diameter welded pipe from China, India, Korea, and/or Turkey are receiving government subsidies.

    Source : Strategic Research Institute
  15. forum rang 10 voda 25 februari 2019 19:34
    Daye Special Steel awards SMS group the contract to upgrade a 75 tonne DC EAF

    Daye Special Steel Co Ltd China has awarded SMS group the contract to upgrade a 75 tonne direct current electric arc furnace at its plant in Xinyegang, China. Commissioning is scheduled for 2019. As part of the upgrade the existing furnace will be scanned in 3D and the bottom part of the electric arc furnace vessel modified. SMS group is supplying two new pin-type bottom electrodes and a high-current system with optimized arrangement to reduce deflection of the electric arc. Also the installation and commissioning will be supervised by SMS group.

    The upgrade is aimed at reducing operating costs and increasing productivity. The pin-type bottom electrode requires no maintenance, and the condition of the electrode is continually monitored by thermocouples. The needle-shaped electrode boasts a long service life, and the optimized arrangement of the bus bar system means the refractory lining lasts longer. Thanks to the easy connection of the bus bar system, the furnace vessel can be changed in just a short period of time. For the lining, expensive conductive bricks have been replaced with cost-effective ramming mix. Safe working conditions for the operating crew are guaranteed as the bottom electrode is cooled with air and not water.

    The DC EAF technology from SMS group offers a host of benefits: less power network interference, lower noise level, reduced electrode and refractory material consumption, and lower energy input.

    The direct-current electric arc furnace generates a strong stirring motion in the steel bath, improving not only the temperature and homogenization but also the quality of the tapped liquid steel.

    Source : Strategic Research Institute
  16. forum rang 10 voda 25 februari 2019 19:34
    US DoC issues determination of CVD in imports of steel wheels from China

    US Department of Commerce announced the affirmative preliminary determination in the countervailing duty investigation of imports of steel wheels 12 to 16.5 inches in diameter from China, finding that exporters received countervailable subsidies ranging from 58.30 to 293.27%. As a result, Commerce will instruct US Customs and Border Protection to collect cash deposits from importers of certain steel wheels from China based on these preliminary rates.

    In 2017, imports of certain steel wheels from China were valued at an estimated USD 87.2 million.

    The petitioner is Dexstar Wheel, a division of Americana Development Inc.

    Source : Strategic Research Institute
  17. forum rang 10 voda 25 februari 2019 19:35
    Taiwan to face new tariffs on stainless steel bar exports to South Korea

    Taiwan News reported that the South Korean Trade Commission is preparing to impose new anti-dumping tariffs on Taiwanese steel bars. The Trade Commission is preparing to send an official request to South Korea’s Financial Minister for a tariff of between 9.47 and 18.56% on stainless steel bars from Taiwan for up to five years. In addition to the Taiwanese steel products, Italian steel bars are also being targeted by the anti-dumping measure.

    According to the report from Yonhap, Taiwanese bars have been imported at excessively low prices on the Korean market which has damaged the domestic steel industry.

    Source : Taiwan News
  18. forum rang 10 voda 25 februari 2019 19:35
    EU anti dumping investigation on China steel wheels unjustified - MOC

    Xinhua quoted China Ministry of Commerce as saying that European Union anti-dumping investigation on China steel wheels lacks factual and legal basis and will hurt EU consumers' interests. The European Commission has begun an investigation into whether Chinese producers are dumping steel vehicle wheels into Europe at very low prices. MOC spokesperson Gao Feng told a press conference that the case's application does not meet the filing standards of the World Trade Organization as it lacks accuracy and adequacy in the qualification of the applicant's representativeness, Chinese steel and energy markets as well as Chinese products' impact on EU sector.

    Mr Gao pointed out that the EU steel wheel sector is generally in good shape, and China is not the EU's main importer in this field, adding that Chinese products contribute to the market's diversity.

    He added that the investigation will add to market uncertainty and hurt EU consumers' interests.

    Source : Xinhua
  19. forum rang 10 voda 25 februari 2019 19:36
    Trump Trade War - Canadian officials warn tariffs could undermine USMCA

    Washington Examiner reported that Canadian officials said that anger over US steel and aluminum tariffs could become an issue in Canada's parliamentary elections in October and prevent their country from ratifying the US Mexico Canada Agreement on trade. Canadian Minister of Transport Marc Garneau said that "It is a challenge with the tariffs in place when asked if ratification would happen this year at a Washington DC event hosted by the Canadian American Business Council.

    Canada's ambassador to the US, Mr David MacNaughton, who was seated alongside Garneau, concurred with the assessment, saying the US should "just get rid of the tariffs."

    The tariffs of 25 percent on steel and 10 percent on aluminum are causing significant anger, and that could sway votes, the officials said. That, in turn, is making legislators wary of bringing the deal up for a vote.

    MacNaughton noted that the US has granted numerous individual exemptions from tariffs for products not made in the US Virtually all of the exceptions are for items coming from China, he claimed, but few, if any, for ones made by Canada.

    The officials added that they had made the Trump administration aware of the situation. Mr Garneau joked that "[U.S.Trade Representative] Robert Lighthizer hears from me whether he wants to or not.”

    Source : Washington Examiner
  20. forum rang 10 voda 25 februari 2019 19:36
    British Steel faces EUR 110 million Brexit bill

    Politico quoted a Bloomberg report as saying that British Steel could be among the first businesses to take a major financial hit because of Brexit, about EUR 110 million in case of a Brexit no-deal. According to Bloomberg, in the absence of a Brexit deal, British Steel must buy around 6 million tons of carbon on the open market, at a cost of around EUR 110 million by March 15

    British Steel downplayed fears saying it's ready to cope with any scenario. British Steel Chief Financial Officer Gerald Reichmann said in an e-mail to Bloomberg “We have robust plans in place to deal with the various Brexit scenarios including the change in carbon credit regime.”

    The steelmaker had access to free carbon permits under the EU Emissions Trading System, but the EU decided in December 2018 to suspend the permits as part of no-deal Brexit contingency planning.

    Source : Politico
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ArcelorMittal Nieuws

  1. 23 apr Mondiale staalproductie daalt toch weer
  2. 16 apr Deutsche Bank haalt ArcelorMittal van de kooplijst 1
  3. 12 apr Video: cyclische aandelen bieden kansen
  4. 09 apr World Steel Organisation ziet vraag naar staal weer groeien
  5. 22 mrt Mondiale staalproductie in de lift
  6. 12 mrt ArcelorMittal neemt groot belang in Vallourec
  7. 05 mrt Beursblik: experts vinden koerswinst Besi wel mooi geweest
  8. 23 feb Mondiale staalproductie daalt opnieuw
  9. 08 feb ING: ArcelorMittal doet het beter dan verwacht
  10. 08 feb Fors verlies voor ArcelorMittal

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