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

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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 ... 1152 1153 1154 1155 1156 ... 1759 »» | Laatste | Omlaag ↓
  1. forum rang 10 voda 26 maart 2020 15:54
    US Steel Imports in Jan-Feb down by 21% YoY

    Based on preliminary Census Bureau data, the American Iron and Steel Institute reported today that the U.S. imported a total of 1,505,000 net tons of steel in February 2020, including 1,344,000 net tons of finished steel (down 52.2% and 18.4%, respectively, vs. January final data). Through the first two months of 2020, total and finished steel imports are 4,655,000 and 2,992,000 net tons, down 21.3% and 28.7%, respectively, vs. the same period in 2019. Annualized total and finished steel imports in 2020 would be 27.9 and 18.0 million NT, unchanged and down 14.7%, respectively, vs. 2019. Finished steel import market share was an estimated 15% in February and is estimated at 16% over the first two months of 2020.

    Key finished steel products with a significant import increase in February compared to January are heavy structural shapes (up 57%) and tin plate (up 15%). A product with a significant year-to-date increase vs. the same period in 2019 was mechanical tubing (up 12%).

    In February the largest volumes of finished steel imports from offshore were from South Korea (158,000 net tons, down 13% from January final), Turkey (73,000 net tons, up 44%), Japan (69,000 net tons, down 9%), Germany (52,000 net tons, up 7%) and Brazil (37,000 net tons, down 58%). For the first two months of 2020, the largest offshore suppliers were South Korea (340,000 net tons, down 38% vs. the same period in 2019), Japan (146,000 net tons, down 37%), Brazil (126,000 net tons, down 16%), Turkey (124,000 net tons, up 23%) and Germany (100,000 net tons, down 54%).

    Source : Strategic Research Institute
  2. forum rang 10 voda 26 maart 2020 15:56
    Worthington Specialty Processing Announces Consolidation of Operations

    Worthington Specialty Processing, a joint venture between Worthington Industries Inc and United States Steel Corporation, announced a plan to consolidate its operations. Under the consolidation plan, WSP will close its Canton, Mich., facility. Its two remaining facilities in Jackson and Taylor, Mich. will continue to operate. The closure of the Canton operation is expected to be complete by May 29, 2020. WSP processes wide-sheet steel primarily for the auto industry.

    WSP Canton has 91 employees. Approximately 66 positions will be impacted by the closure. The remaining positions provide centralized support services for WSP and will be moved to either Jackson or Taylor. WSP intends to sell the 195,000-square-foot processing center and the 250,000-square-foot distribution center located on Canton’s 30-acre property, as well as most of Canton’s fixed assets.

    Source : Strategic Research Institute
  3. forum rang 10 voda 26 maart 2020 15:57
    AISI, SMA, SSINA, TCPTI and AISC Urge US Administration Not to Weaken Import Tariffs

    Five leading steel industry associations in US have expressed concern about a recent U.S. Customs and Border Protection notification that importers may be granted additional days for payment of estimated duties, taxes and other fees, as a result of the COVID-19 pandemic emergency. In a letter to Mark Morgan, acting CBP Commissioner, the American Iron and Steel Institute, Steel Manufacturers Association, Specialty Steel Industry of North America, The Committee on Pipe and Tube Imports and American Institute of Steel Construction urged that the agency not allow this crisis to encourage bad actors from taking advantage of an at-risk system during this crisis period.

    The letter stated “The steel industry in the United States appreciates the efforts the administration has been making to limit the spread and impact of the COVID-19 pandemic, particularly on businesses and the broader economy. Any efforts to delay or reduce the collection of duties on unfairly-traded steel imports or imports that threaten to impair U.S. national and economic security will ultimately hurt US workers and businesses during this unprecedented moment. “

    The group expressed concern about a communication posted through the Cargo Systems Messaging Service on March 20, 2020, which notes that CBP will grant additional days for payment of estimated duties, taxes, and fees on a case-by-case basis as a result of the emergency situation, and the possibility that a longer-term policy may be forthcoming. It said “The existing antidumping and countervailing duty orders on steel imports are a direct result of legal action petitioned by domestic steelmakers and the relief obtained demonstrated that the domestic industry was either materially injured or threatened by material injury as a result of these unfairly-traded steel imports. During this crisis, our industry is especially vulnerable to the adverse impact of unfairly-traded steel imports, as the effects of this pandemic are uneven worldwide and certain major steel-producing nations continue producing steel despite softening demand that occurred before the pandemic even began. It is also imperative that the duties collected by CBP under the Section 232 action continue without pause during the COVID-19 pandemic. As the Secretary of Commerce determined in 2018, domestically-sourced steel is critical to U.S. national and economic security, particularly during a time of crisis.”

    Source : Strategic Research Institute
  4. forum rang 10 voda 26 maart 2020 19:14
    Tata Steel zet reorganisatie door, ondanks de coronacrisis

    Tata Steel Europe wil te midden van de coronacrisis zijn reorganisatieplannen doorzetten. Dat blijkt donderdag uit een interne memo die aan de medewerkers is gestuurd.

    De Europese ondernemingsraad (EOR) had de directie gevraagd om 'een pas op de plaats te maken' met de reorganisatieplannen, vanwege de maatregelen om de verspreiding van het corona-virus tegen te gaan, en de afgenomen orders als gevolg van het virus.

    De directie van het staalconcern komt niet tegemoet aan de oproep van de werknemers. 'De leden van de ExCo (kort voor executive committee, red.) zijn van mening dat de plannen om te komen tot een personeelsreductie van ruim duizend banen in Nederland gewoon door moeten gaan, ondanks de coronacrisis', schrijft de ondernemingsraad.

    Corona maatregelen
    De staalfabrikant kampt met de gevolgen van het coronavirus. Belangrijke spelers in de auto-industrie hebben tijdelijk de productie stilgelegd, waardoor Tata ook de vraag ziet teruglopen. Die sector is een belangrijke afzetmarkt voor de staalfabrikant, waardoor de fabriek in IJmuiden sinds afgelopen weekend de productie heeft moeten afschalen.

    In de fabrieken wordt met een minimale bezetting gewerkt en veel kantoorpersoneel werkt vanuit huis. Daarbij is het 'op dit moment vrijwel onmogelijk om goed overleg te plegen', schrijft de ondernemingsraad.

    Ook is aan iedereen met verkoudheidsklachten gevraagd om thuis te blijven, waardoor het ziekteverzuim rond de 10% ligt, zo valt te lezen in het bericht. 'Dit vraagt heel veel van alle medewerkers; voor vrijwel iedereen betekent dit grote inspanningen', schrijven de werknemersvertegenwoordigers.

    Reorganisatie
    Er wordt sinds juni gesproken over een 'transformatieprogramma', waarmee Tata Steel zijn Europese tak wil reorganiseren. Dat is volgens het Indiase moederbedrijf nodig, omdat de situatie op de Europese staalmarkt sterk is verslechterd.

    De reorganisatie moet de winstgevendheid verbeteren. Die verbeteringen moeten onder meer komen uit een verhoogde productiviteit, een toename in de verkoop van hoogwaardige staalsoorten en het schrappen van banen.

    In heel Europa worden 1250 banen geschrapt, waarvan zo’n 975 banen in IJmuiden. Eerder was er nog sprake van een reductie van 3000 banen, maar dit aantal is naar beneden bijgesteld door andere maatregelen, zoals het niet vervangen van medewerkers die met pensioen gaan. In Nederland werken 11.000 mensen bij Tata Steel, tegen 21.000 mensen in heel Europa.

    De ondernemingsraden vinden het schrappen van de banen 'volstrekt onacceptabel' en zeggen, samen met de vakbonden, te gaan verzetten tegen de plannen.

    fd.nl/ondernemen/1339396/tata-steel-z...
  5. forum rang 10 voda 27 maart 2020 15:31
    ArcelorMittal wil Italiaans personeel naar huis sturen

    Gepubliceerd op 27 maart 2020 13:16 | Views: 1.117

    ArcelorMittal 15:10
    8,29 -0,41 (-4,66%)

    TARENTE (AFN) - Staalfabrikant ArcelorMittal wil al het personeel van zijn fabriek in het Zuid-Italiaanse Tarente tijdelijk naar huis sturen. Het bedrijf stuurde een brief over die plannen naar de vakbonden, meldt persbureau Bloomberg. Daarmee reageert het bedrijf op door de overheid opgelegde productiebeperkingen.

    De vakbonden hebben nog niet gereageerd op de plannen. In totaal betreffen de plannen ruim 8000 werknemers, die vanaf maandag negen weken niet zouden hoeven komen werken. ArcelorMittal heeft de bonden opgeroepen om snel in overleg te gaan.

    In Italië ligt het openbare leven al enige tijd stil vanwege de maatregelen om de uitbraak van het coronavirus in te dammen. Eerder deze week dreigden vakbonden nog met stakingen omdat te veel fabrieken in hun optiek waren aangemerkt als essentieel en daardoor open moesten blijven. Daarbij ging het wel vooral om fabrieken in het zwaar getroffen noorden van het land.
  6. forum rang 10 voda 27 maart 2020 15:51
    Tata Steel to cut Steel Production in Europe

    Tata Steel Europe has joined other European steel groups in cutting production after automakers and other firms slashed output due to the coronavirus outbreak. The lack of demand has prompted Tata to reduce production although it is keeping its main furnaces running. It said “We will continue to operate all four blast furnaces across our two steelmaking hubs in IJmuiden, the Netherlands, and Port Talbot, Wales. However, liquid steel production will be reduced as a consequence of the sudden drop in demand. We are monitoring the situation carefully and we stand ready to review these decisions based on market demand in the coming weeks.”

    Tata Steel Europe produced 2.51 million tonnes in the final three months of 2019.

    Source : Strategic Research Institute
  7. forum rang 10 voda 27 maart 2020 15:51
    SAIL Cuts Production amid Coronavirus Lockdown

    Steel Authority of India Ltd has scaled back its manufacturing operations with the country under a 21-day lockdown to prevent the spread of coronavirus but could not yet say how much of a hit it would take. It informed BSE “We wish to inform that in the wake of the outbreak of novel Coronavirus COVID-19 across the world, including India, the company has been taking various precautionary measures across all its plants and units to support the nationwide effort to contain the spread of the pandemic COVID-19. Availability of input raw materials, health and safety of the employees and their families, limited logistic support and sales constraints, the manufacturing operations in all our plants and units locations have since been rationalized as warranted by the difficult circumstances. Consequently, the capacity utilisation is likely to go down during this period of lockdown.”

    It added “The overall adverse impact on the operations of the company during the period of this lockdown on account of the above and the expected financial impact is not immediately ascertainable at this stage. The Company is closely monitoring the situation and taking appropriate action as per the directions issued by regulatory authorities from time to time keeping in view the interest of the Company, health and safety’ of all of its employees and their families and the interest of the nation at large, it shall resume full operations as soon as the situation permits.”

    As reported earelier some other primary steel companies have faced similar disruptions and have suspended operations at some of their plants.

    Source : Strategic Research Institute
  8. forum rang 10 voda 27 maart 2020 15:52
    GFG Alliance Announces Measures against COVID-19

    GFG Alliance said that “The health and well-being of our people remains a top priority as we manage the impact of COVID-19 on our business. We are taking all necessary steps in accordance with WHO and government advice in the countries where we have operations to protect our people. Steps taken so far include prohibiting all business travel, closing sites to visitors, communicating advice regularly to employees on how best to protect themselves from infection and what employees should do if they develop symptoms. Where possible and required to do so, GFG Alliance employees are working from home and we have put in place measures to ensure they remain connected, safe and informed.”

    GFG Alliance has formed a global steering committee which is monitoring the impact of the COVID-19 on our operations as well as our national Governments’ plans to support their steel and aluminium industries, which remain a critical driver of their economies now and in the future.

    GFG continues to adjust production to demand on a plant by plant basis with its highest priority being the safety of its employees. We remain committed to supporting our customers during this period, especially those which have a vital role to play in managing the response to the virus, providing materials for medical equipment and food packaging, for example.

    Source : Strategic Research Institute
  9. forum rang 10 voda 27 maart 2020 15:52
    S Steel Gary Works BF 4 to be idled

    Chesterton Tribune reported that US Steel announced that a scheduled 48-day outage of the No 4 blast furnace at Gary Works will begin in April and that previously announced indefinite idling of the Great Lake Works outside of Detroit will also begin in April as US Steel is implementing that idling as part of its best of both strategy. US Steel said “The global coronavirus outbreak is an unprecedented and rapidly evolving situation. It remains uncertain how long the situation will last and what the impacts will be for the full year. Given the significant uncertainty in the marketplace, we continue to monitor demand levels and plan to provide more information during our first quarter earnings call. We understand the situation remains fluid and we are preparing our operations to be as flexible as circumstances warrant. Our regional supply chain minimizes the risk of significant supply-chain related production disruptions.”

    The company starting on April 1 will begin to lay off up to 1,500 employees at Gary Works as it idles blast furnaces and stops all iron and steelmaking at the facility which has been involved in producing steel for over a century.

    The company has not said whether the closure of operations is permanent, only that there is no time frame attached.

    Source : Strategic Research Institute
  10. forum rang 10 voda 27 maart 2020 15:52
    Algoma Steel Takes Precautions for COVID-19 Outbreak

    Algoma Steel Inc president Michael McQuade has advised employees of precautions taken after an employee of a supplier tested positive for COVID-19 this past weekend. McQuade said "We have confirmed the individual travelled to the Soo from another province and was last at Algoma on March 12, 2020. Algoma Public Health is advised the likelihood of transmission is low however out of an abundance of caution we have notified those employees who were in contact with the individual and asked them to stay home and self-monitor for the remainder of the 14-day window.”

    He said "We also learned yesterday that an employee who has been off work since March 19, 2020 has been tested for COVID-19. We have consulted with Algoma Public Health and while they have not recommended any action at this time, out of an abundance of caution, we have asked those employees and a small number of contractor personnel who had close contact with that individual not to come to work pending the outcome of the employee's test results. Any work and common areas occupied by this employee are being fully sanitized."

    Algoma Public Health first confirmed case, reported on March 17, involved a woman in her 50s who returned to Algoma District on March 15 from the United States. The woman developed respiratory symptoms and advised Algoma Public Health on March 16. She was tested later that day at Sault Area Hospital.

    Precautions taken by the steelmaker include:
    Discontinuing business travel
    Restricting visitors to the site
    Introducing screening and social-distancing protocols for essential service providers including truck drivers and couriers
    Implementing a policy in accordance with public health directives for employees and contractor personnel who are either returning from international travel or who fall under a self-isolation protocol
    Introducing staggered shift starts, lunches, and breaks to reduce congestion in welfare facilities and lunchrooms
    Transitioning paper processes online
    Facilitating work-from-home arrangements
    Reallocating work stations to provide for adequate spacing (minimum two meters) and limited pulpit occupancy
    Directing teams to hold meetings via teleconference and WebEx and facilitated online training delivery
    Augmenting sanitation services, ensuring adequate inventory of cleaning supplies
    Providing cleaning supplies for regular disinfection of pulpits and asked that this practice extends to crane cabs, mobile equipment, and other work stations.

    Source : Strategic Research Institute
  11. forum rang 10 voda 27 maart 2020 15:56
    NLMK to Revise Capital Allocation in 2020 over Coronavirus Outbreak

    Due to increased volatility on global markets associated with the COVID-19 outbreak, NLMK Group is withdrawing its previously issued guidance on 2020 capex programme of USD 1.1-1.2 billion for a downward revision. Commencement of certain expansion projects could be postponed. At the same time, the Company is proceeding with its major overhauls at NLMK Lipetsk primary steelmaking operations scheduled for 2020.

    Cash and cash equivalents, as well as short-term liquid financial investments on the Company’s balance sheet currently stand at $1.56 billion (+79% vs. 31 December 2019). Available credit lines are estimated at an additional $0.8 billion. NLMK’s current level of liquidity creates a safety buffer to ensure uninterrupted business operations.

    The Company’s net debt stands at $1.9 billion (+5% vs. 31 December 2019). Average cost of debt remains low at 3.16%. NLMK has sufficient liquidity to cover all short-term debt maturities, including renewable working capital lines.

    Source : Strategic Research Institute
  12. forum rang 10 voda 27 maart 2020 15:57
    Metinvest Group Takes Measures to Fight Coronavirus

    Realising the risks and the hazards associated with COVID-19 both world- and Ukraine-wide, Metinvest Group cannot remain aloof from what is happening around. We understand that clear and thought-through actions on the part of large business are important as never before to show maximum care for our employees and help out the people in the cities where we operate. Therefore, we believe it is our primary objective to prepare for potential consequences of the virus spread. We intend to use all of the available resources to safeguard our enterprises that they can continue operate without interruptions while securing jobs, paying taxes and sustaining the national economy, which is directly dependent on their performance. It said “Health and safety of employees is the unconditional priority of the company. Beginning March 17, special measures were introduced at all Metinvest enterprises to combat the spreading of the virus. All public events and business trips were cancelled. All working premises and vehicles bringing workers to the sites and taking them back home are regularly disinfected. The canteens are transformed into "take away" places, where the workers can get packed food and bottled water. “

    Metinvest is doing its best to provide employees with personal protective equipment necessary during this crisis period, despite the shortage in the market. Over 160 thousand safety masks and respirators and over one million gloves have been purchased for the workers of Ukrainian enterprises of the Group. All employees are provided with hand sanitizers. The stock of the means of protection is continuously replenished. We look for every opportunity to buy them, and as soon as we find them, they are immediately delivered to the enterprises.

    Metinvest is ready to help save the patients suspected of having COVID-19, virus pneumonia and other lung diseases supplying hospitals with oxygen so much needed during the epidemic. The manufacturing sites of Ilyich Iron and Steel Works of Mariupol and Azovstal Iron and Steel Works supply oxygen to the hospitals in Mariupol and the region, perinatal centre, cancer hospital and all medical institutions that may send such requests to these enterprises.

    The Group is involved in the activities of regional crisis response centres focused on combating the coronavirus. Recreation and healthcare facilities of the company are put to stand-by mode and are ready to receive patients at any time. This week Metinvest expects the delivery of 20 thousand COVID-19 express tests, which will be distributed among the hospitals and clinics of Kyiv, Mariupol, Zaporizhia and Kryvyi Rih. Metinvest allocates the funds to purchase personal protective and special equipment for police workers, laboratories and ambulances, whose employees carefully watch the adherence to the quarantine measures and are exposed to risk on a daily basis.

    Despite the difficult situation, Metinvest Group continues to pay full salaries to all employees. The administrative staff of the management company and about 95% of administrative personnel of enterprises are working remotely now. Workers at risk are on paid leaves or work remotely. Amid economic uncertainty, Metinvest enterprises decided not to have a tax break for now to secure the stability of local and national budgets along with the efficiency of actions taken to combat COVID-19.

    Source : Strategic Research Institute
  13. forum rang 10 voda 27 maart 2020 15:57
    Jingye Sends Aid Package to British Steel in Scunthorpe

    The Chinese company Jingye has sent a private jet laden with medical equipment to the company’s Scunthorpe steelworks to help protect workers and keep its blast furnaces running amid the chaos caused by Covid-19. Half of the aid package from China will be donated to the community surrounding the steelworks, as nearby local authorities and Lincolnshire hospitals get to grips with the outbreak.

    A source close to Jingye told the Guardian that the aircraft brougt medical and protective equipment from China, destined for workers at the Scunthorpe, Lincolnshire, blast furnace steelworks.

    The source said the plane would deliver equipment including face masks and goggles, forehead temperature check guns, thermometers and medical gloves.

    About half will be used to protect workers on the plant, while the other half is being donated to the local hospital in Scunthorpe.

    Jingye is based in Xibaipo, Hebei province, about 500 miles north of Wuhan, Hubei province, the city seen as the origin of the coronavirus pandemic.

    Source : The Guardian
  14. forum rang 10 voda 27 maart 2020 15:58
    Fitch Sees Risks to JSW Steel ability to Deleverage and Generate Positive Free Cash Flow

    Fitch Ratings said that it saw risks to JSW Steel’s ability to deleverage and generate positive free cash flow from weak industry conditions, an increase in its planned capex, or inability to stabilise and improve performance at acquired assets. In a report, Fitch Ratings says, "We see risks to JSW Steel’s ability to deleverage and generate positive free cash flow from weak industry conditions, an increase in its planned capex, or inability to stabilise and improve performance at acquired assets. We estimate total gross debt and earnings before interest, taxes, depreciation, and amortization (EBITDA) leverage for JSW to remain above four times until FY2021 and FCF negative until FY2022, before improving."

    According to the ratings agency, for JSW Steel's ratings, leverage in FY2022 and the FCF profile beyond FY2022 are important, but it will aim to assess the company’s financial trajectory, growth plans and sector fundamentals, and take appropriate rating action within the next 12 months depending on whether our forecasts indicate JSW Steel will be unable to perform better than the sensitivities, or vice versa.

    It added "Undertaking of further large capacity expansion projects, delays in ramp-up of utilisation rates at recent acquisitions, and steel demand growth in India of below 5% could indicate that the EBITDA, leverage and FCF profile will be weaker than our expectations.”

    Source : Strategic Research Institute
  15. forum rang 10 voda 27 maart 2020 15:58
    US DoC Sets Preliminary Duties on Forged Steel Fittings imports from India

    US Commerce Dept has made preliminary finding that exporters of forged steel fittings from India received countervailable subsidies at rates that range from 2.65%-284.91% and would instruct CBP to collect cash deposits from importers based on prelim.

    Petitioners are Bonney Forge Corp. and the United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers International Union. In 2018, imports of forged steel fittings from India were valued at an estimated USD 92.6 mllion.

    Source : Strategic Research Institute
  16. forum rang 10 voda 30 maart 2020 16:24
    Challenging Times Ahead for Indian Steel Industry - Icra

    Icra in a latest report said that the performance of domestic steel makers in India is likely to be adversely impacted in Q1 od FY21 on account of the Covid-19 pandemic and the 21-day nationwide lockdown and that domestic firms may have to face challenges such as weak domestic demand, which is likely to lead to inventory pile up, exerting pressure on steel prices.

    Going ahead, in FY21, Icra is not expecting a rebound in domestic steel consumption growth. As against a growth rate of 3.8 per cent in FY2020, consumption growth is likely to settle at around 2-3 per cent in FY2021, given that Q1 could be a very weak quarter.

    With the export market also remaining tepid, and incremental capacity addition of 10 mtpa next fiscal, industry capacity utilisation rates are seen to be lower from 81 percent in FY2020 to about 79 percent in FY2021 assuming a recovery in demand conditions in the second half.

    Source : Strategic Research Institute
  17. forum rang 10 voda 30 maart 2020 16:25
    US Steel Takes Action in Response to COVID-19 Impacts

    United States Steel Corporation announced a series of aggressive and meaningful actions to provide greater certainty on the company’s response to impacts from the coronavirus COVID-19 and the sudden, significant changes in global oil and gas markets. It said “These actions strengthen the company’s ability to serve customers, partner with suppliers, create long-term value for investors and ensure a more secure future for employees and the communities where we work and live. By prioritizing cash and liquidity, the company will maintain strategic flexibility in order to be well prepared for when the global economy ultimately recovers from the current situation.”

    North American Flat-rolled Footprint Actions: The company will idle the #4 blast furnace at Gary Works immediately to begin a planned outage. This outage was originally planned to begin in April and last for 48-days. The scope of the current outage has been reduced and the remainder of the Gary #4 blast furnace outage is being delayed. The company expects the Gary #4 blast furnace to remain idled until market conditions improve. In addition, the company will temporarily idle blast furnace “A” at Granite City Works, effective immediately. As previously communicated, the company will also complete the indefinite idling of the iron and steelmaking facilities at Great Lakes Works.

    Tubular Footprint Actions: Beginning in late-May, the company plans to idle all or most of Lone Star Tubular Operations and Lorain Tubular Operations for an indefinite period of time in response to weak tubular market conditions, including continued high levels of imports and decreased demand driven by a sudden, significant drop in oil prices. The company has issued Worker Adjustment and Retraining Notification Act notices to employees at both facilities.

    Revised Capital Spending for 2020: The company is aligning its strategic projects with today’s market realities by reducing capital spending in 2020 by USD 125 million. The company now expects 2020 capital spending to be approximately USD750 million. Impacts to strategic projects are as follows:

    Endless Casting and Rolling and Cogeneration Investments at Mon Valley: The company plans to delay construction of the endless casting and rolling line and cogeneration facility at its Mon Valley Works. On March 23, the Allegheny County Health Department announced, after consultation with the company, that a temporary pause in the permitting process is appropriate given the challenges posed to the public comment process while COVID-19 public health orders are in effect in Allegheny County. The company agrees with a pause during this time of social distancing precautions implemented by the county. In addition to the regulatory delay, in order to preserve cash and liquidity, the company currently expects groundbreaking for this project to be delayed for an indeterminate period of time until market conditions become more certain. The company now expects 2020 capital spending for the project to be approximately $85 million. The company will continue to assess the project timeline and remaining budget.

    Electric Arc Furnace at Tubular: The company currently expects to complete the EAF at Tubular as planned, with first arc anticipated in the second half of 2020. The expected 2020 capital spending budget for the EAF project is unchanged at $150 million. The investment in the EAF has been prefunded with environmental revenue bonds issued in the fourth quarter of 2019.

    Gary Hot Strip Mill (Investments: The company currently has paused planned upgrades and will continue to evaluate the pace and timeline for completing the remaining investments in the HSM.

    Dynamo Line at USSE: The investment in a new non-grain oriented electrical steel line at USSE remains delayed.

    Source : Strategic Research Institute
  18. forum rang 10 voda 30 maart 2020 16:26
    Part of SAIL BSP Employees Walk Out over Coronavirus Fears - Report

    Local media reported that employees of Steel Authority of India Ltd’s Bhilai Steel Plant, demanding to cut production due to Corona's fear, stopped work on Friday. As per media reports, due to this, the production of railway tracks came to a standstill. First, the employees of Bar & Rod Mill boycotted the work, after which the employees in Rail Mill and Universal Rail Mill also started going towards the houses shouting Jaan hai to jahan hai. Meanwhile, the news came that in the sintering plant-3, the production was stopped. After this, about 400 regular and 700 contract laborers of Universal Railmill also came in the mood for rebellion. The personnel allege that the BSP management did not take concrete steps to avoid the corona infection, creating an atmosphere of fear among the personnel. Control room, shift room, etc., in which there is a Jamwada of workers for 24 hours. It is not being sanitized. Hand sanitizers are not provided to the personnel.

    On the other hand BSP CEO Mr Anirban Das Gupta said that the management has decided to keep important units operational from technical point of view to encourage most of the workers to stay homes and adopt social distancing. He said that Blast Furnace-1 and 8, Universal Rail Mill, SMS-2, SMS-3 and most of the units of Coke Oven would remain functional.

    Source : Strategic Research Institute
  19. forum rang 10 voda 30 maart 2020 16:27
    ArcelorMittal Brazil to idle BF No 3 in Tubarao

    Platts reported that ArcelorMittal Brazil decided to temporarily adjust production in both its flat and long steel units from April on, following the serious impacts of the coronavirus crisis. On the flat steel side, the company will halt for 45 days the 2.5 million tonne per year No 3 blast furnace at its Tubarao plant in Espirito Santo state. Moreover, the company said without detailing that it will temporarily reduce production rates at some of its long steel units, although the Joao Monlevade plant, with 1.1 million tonne per year capacity, and iron ore mine Mina do Andrade will remain fully operative. ArcelorMittal Brazil said in an emailed statement to S&P Global Platts "Customer service will continue through the supply of inventoried material, according to market needs and demand.”

    The unit's BF No 2 has been idle since July 2019, due to market conditions. The Tubarão complex's total capacity amounts to about 7.5 million tonne per year.

    ArcelorMittal Brazil operations includes six plants in Brazil (Sol, ArcelorMittal Tubarao, ArcelorMittal Vega, ArcelorMittal Brasil, ArcelorMittal Brasil 2 and ArcelorMittal Sul Fluminense) one in Argentina (Acindar), one in Costa Rica (ArcelorMittal Costa Rica) and one in Venezuela (Industrias Unicon).

    Source : Strategic Research Institute
  20. forum rang 10 voda 30 maart 2020 16:28
    SAIL Vision 2030 Outline Outlines 50 Million Tonne Capacity

    Financial Express reported that Steel Authority of India has proposed to expand its capacity to 49.6 million tonnes per annum in its Vision 2030 programme. Under its Vision 2030 programme, the company plans to further add 29.6 million tonnes per annum in two phases by 2030. This might entail an investment of over USD 31 billion. According to the plan, in the first phase, the capacity will be raised to 35.8 million tonnes per annum. The company intends to enhance strength at its Durgapur Steel Plant to 7.5 million tonnes per annum in the first phase from 2.5 million tonnes per annum. That of the Rourkela Steel Plant has been proposed to be raised to 8.8 million tonnes per annum from 3.7 million tonnes per annum now. Bokaro Steel Plant’s capacity will be raised to 9.5 million tonnes per annum and IISCO’s to 3 million tonnes per annum in the first phase. No timeline has been set for the completion of the first phase.

    Source : Financial Express
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