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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

  • 23,280 25 apr 2024 15:18
  • -0,360 (-1,52%) Dagrange 23,250 - 23,690
  • 1.206.142 Gem. (3M) 2,5M

Nieuws en info hier plaatsen (deel 4)

35.173 Posts
Pagina: «« 1 ... 577 578 579 580 581 ... 1759 »» | Laatste | Omlaag ↓
  1. forum rang 10 voda 7 maart 2017 16:55
    Iran steel exports into Europe grew nearly eightfold between 2013-16

    Financial Tribune reported that Iran’s steel industry seems now on the point of a real breakthrough on international markets. Brussels-headquartered Eurofer and its members seem startled by the latest data showing Iranian steel exports into Europe grew nearly eightfold between 2013 and 2016 to just over 1 million tons annually, placing Iran third behind India (1.9 million tonnes) and China (5.7 million tonnes).

    Iran’s main steel export destinations in Europe include Italy, Spain and Belgium, and the sheer rise in the growth of shipments has Eurofer spooked. It’s not taking any chances.

    Eurofer Spokesman Charles de Lusignan told bne IntelliNews that “Exports from Iran have risen from around 140,000 tonne in 2013 to over 1.1 million in 2016. This is a significant rise and well outstrips the modest degree of growth in the EU market. The sharp rise in exports is already under the microscope in the EU, not just [in terms of what’s coming] from Iran but from other trade partners. The EU is, for instance, investigating alleged dumping of hot-rolled steel by producers in Iran as well as in Serbia, Brazil, Russia and Ukraine.”

    Source : Financial Tribune
    Bijlage:
  2. forum rang 10 voda 7 maart 2017 16:56
    Still in merger talks with ThyssenKrupp - Tata Steel

    Business Line reported that Tata Steel is still in constructive’talks with German steel major ThyssenKrupp for a strategic collaboration including merger of its European operations, nearly six months after announcing such a plan. Clarifying on foreign media reports on Tata Steel UK scrapping its merger talks with ThyssenKrupp, the company in a statement on Monday said it continues to be engaged and is in constructive discussion with ThyssenKrupp regarding a potential merger of the steel businesses of the respective companies in Europe.

    However, it said there can be no assurance that these discussions will result in a transaction until a definitive agreement is reached.

    The company could not proceed with the merger of the UK business with ThyssenKrupp due to issues over the employees pension plan.

    Tata Steel last month announced that its UK employees have agreed on the proposal to close the existing defined benefit pension plan British Steel Pension Scheme and opt for more competitive pension.

    Source : Business Line
  3. forum rang 10 voda 7 maart 2017 17:02
    Al Jazeera Steel posts robust growth despite headwinds

    Muscat Daily reported that despite sluggish demand in the GCC region and anti-dumping action by the US on Oman’s steel pipe exports, Al Jazeera Steel Products Co recorded a robust growth in sales and net profit last year as the company diversified into other export markets. Al Jazeera Steel said 2016 was a good year for the company as it achieved highest ever volume dispatches of 335,951 tonnes, a growth of 18 per cent year-on-year.

    The company’s net profit surged to RO 4.58 million for the year ended December 31, 2016 against RO 1.71 millio net profit in the previous year.

    Al Jazeera Steel said in its yearly report submitted to the Muscat Securities Market on Sunday “‘In spite of various downside pressures such as volatility of pricing, sluggish demand in the GCC and trade actions in the US, the company saw a 167 per cent growth in 2016 net profit compared to 2015.”

    As Al Jazeera Steel had to face the US anti-dumping investigation on its pipe supplies to the US market, the company said the US action slowed dispatches in the third quarter which had an impact on tube mill volumes. It said “The US Department of Commerce finally determined anti-dumping duty at 7.36 per cent. In order to keep our overall volumes steady and reduce dependence on the US market, we have diversified to other export markets in 2016 and hope to build on this in 2017.”

    The company said it witnessed a strong input price appreciation in the second quarter of 2016 and then a period of sharp downward correction in the third quarter, making it difficult to maintain margins. ‘The company managed this volatility through a series of measures such as tight inventory control and market segment diversification as well as increased geographical spread’.

    Al Jazeera Steel said it started operating the merchant bar mill on a 24-hour basis from January 2017 and expects to produce and sell additional 5,000MT of rebar products on a monthly basis. The increase in production will lead to over 70 per cent capacity utilisation from the present level of 55 per cent only, the company added.

    Source : Muscat Daily
  4. forum rang 10 voda 7 maart 2017 17:03
    POSCO chief to spend more time managing affiliates

    Korea Times reported that POSCO chairman Kwon Oh-joon will take a more active part in the management of its less-profitable affiliates for the next three years. With the once-struggling steelmaker having secured a solid footing over the past few years, Kwon has decided to turn his attention to POSCO Engineering & Construction (E&C), POSCO Daewoo and other subsidiaries, which have yet to match the performance of the world's fifth-largest steelmaker.

    The officials said that the chairman will go to the headquarters of POSCO E&C in Songdo, Incheon, once or twice a week, to cater to management issues of the builder and other units there after he returns from a week-long trip to the United States and Germany.

    A POSCO official said that "He will go to the POSCO E&C building at least once a week to meet with heads of company affiliates and help them perform better. This is in line with Kwon's pledge when he secured another three-year term in January, which was to enhance the competitiveness of non-steel businesses."

    At the time, the chairman said POSCO Chief Operating Officer Oh In-hwan will deal with day to day issues concerning its steel business, adding that he will devote most of his time to nurturing the steelmaker's new growth engines and helping non steel businesses become more competitive.

    Under Kwon's first three year term from 2014 to 2016, POSCO regained its competiveness through rigorous restructuring. But its affiliates in areas of construction, energy and trading have yet to get back on track.

    In 2016, POSCO posted a 2.64 trillion won (USD 2.3 billion) operating profit, up 17.7% from the previous year. In contrast, POSCO E&C incurred a KRW 594.8 billion operating loss and POSCO Daewoo, the steelmaker's trading arm, recorded a KRW 318.1 billion operating profit, down 13.7%

    Chairman Kwon has visited the head offices of Siemens and GE over the past week to acquire more advanced knowhow and expertise in transforming conventional manufacturing facilities into "smart" factories.

    Last Friday, he went to the headquarters of GE Digital in San Francisco and exchanged views with Vice President Paul Boris and other company executives. Kwon also toured GE Digital's manufacturing and research facilities.

    Source : Korea Times
  5. forum rang 10 voda 7 maart 2017 17:03
    NLMK can withstand anti-dumping duties

    Reuters repoted that Russia's largest steelmaker NLMK said that is well-placed to weather the impact of European Union and US anti-dumping duties and may expand into new markets such as Turkey and Asia to secure greater profits. NLMK predicts prices will stay volatile as oversupply continues for the foreseeable future, but it said the markets where it is present, the United States and Europe, including Russia, would outperform.

    Mr Grigory Fedorishin., previously CFO but now senior vice president in charge of strategy, said “We've positioned ourselves as a strong player in a weak industry. Because NLMK has operations in the United States and Belgium, for instance, it benefits from the duties alongside the domestic manufacturers. On the US side, we benefit more than we lose.”

    He said "That was one of the ideas behind this model to hedge steelmaking supply and to make sure we are close to final customers and the markets where our steel is consumed. It's a more or less unique model. We don't know any other companies which have this sort of model on this sort of scale."

    Russia has appealed to the World Trade Organization over EU anti-dumping duties, but NLMK said it had no update on the case. Fedorishin said the prime target was China, the world's biggest steel exporter, and NLMK had been unfairly "bundled with the Chinese".

    Source : Reuters
  6. forum rang 10 voda 7 maart 2017 17:04
    German union calls for strikes in steel sector over pay dispute

    Reuters reported that a pay dispute in Germany's steel sector intensified on Monday as the IG Metall union rejected an offer for a wage increase of 1.3 percent and called for labour strikes in northwest Germany on Tuesday. An estimated 3,000 steelworkers will take part in the strikes on Tuesday, and among the companies affected by the walkouts will be Thyssenkrupp Steel Europe in the western city of Duisburg, an IG Metall spokesman said.

    IG Metall has demanded a 4.5 percent pay rise over 12 months for the 72,000 steelworkers in northwest Germany, where the vast majority of the country's industry is concentrated.

    During the second round of negotiations, employers offered an increase of 1.3 percent over 15 months, the union said.

    IG Metall chief negotiator Knut Giesler, describing the employers' offer as measly, said “An offer that is below the inflation rate and leads to a drop in real wages is out of the question and not negotiable. Therefore it's the employers who bear responsibility for the escalation of the labour dispute.”

    German annual inflation jumped to 2.2 percent in February, reaching its highest in 4-1/2 years and surpassing the European Central Bank's target for price stability.

    Under the last deal, which ran out at the end of February, steelworkers got 2.3 percent more pay from January 2016.

    Both sides are expected to resume negotiations on March 16.

    Source : Reuters
    Bijlage:
  7. forum rang 10 voda 7 maart 2017 17:05
    Two investor groups vie to buy Italy's Ilva steel plant -Reuters

    Reuters reported that Italy's Ilva steel group has received bids from two consortiums for its loss-making plant in southern Italy, i two years after the state took it over to save thousands of jobs and clean up the polluted site.The first bid came from ArcelorMittal and Italy's Marcegaglia group. A consortium including India's JSW Steel and Italian state holding company Cassa Depositi e Prestiti made a rival binding offer but provided no details of their plans for the site.

    The government is expected to make a decision on the bids in about a month.

    Ilva was placed under court administration in 2013 after magistrates seized EUR 8.1 billion of assets belonging to its former owners, the Riva family, amid allegations that toxic emissions were causing abnormally high rates of cancer.The government took over administration of the business in 2015 to try to save jobs and clean up its polluting furnaces. With two of its five furnaces closed, Ilva produced 5.8 million tonnes of steel last year, well below the 8 million tonnes it is authorised to produce. This was an increase of more than 1 million tonnes from 2015 and helped to reduce the plant's operating loss, which is still a hefty EUR 220 million.

    Source : Reuters
    Bijlage:
  8. forum rang 10 voda 7 maart 2017 17:50
    quote:

    OzzyO schreef op 7 maart 2017 01:33:

    [...]
    Conclusie van wat? Wat is je eigen conclusie na het lezen van de nieuwsberichten?

    Ik zal even toelichten wat het doel van deze draad is:

    Deze draad is de nieuwsdraad waar eigenlijk alleen nieuwsberichten gedeeld worden en waar af en toe wat gedachten erover uitgewisseld worden.

    Voda doet dit al jaar in jaar uit, wat een hele prestatie is en een waardevolle bron van het laatste nieuws overzichtelijk in één draad.

    Success,

    Ozzy
    Hartelijk dank & AB voor deze uitleg.
  9. forum rang 10 voda 7 maart 2017 18:34
    Argentinean automotive production suffers in February

    High dependence from Brazil`s market and lack of demand continues to lash Argentinean automotive sector, Kallanish notes from the latest results of the local association of automotive producers (ADEFA).
    In February, the sector produced 24,036 vehicles, almost -30% less than the volume registered in the same month of 2016 and down -10.2% in comparison with January 2017.

    According to ADEFA, automotive producers have exported 12,931 vehicles in February. This is a 32.6% increase month-on-month, but down by -8.8% in comparison to February 2016.

    "Production and export volumes are reflecting the fall in demand in Brazil, which registered a decrease of 65% in February" said from ADEFA, underscoring the dependance of the Argentian production to the Brazilian demand.

    As a result of the fall in demand in the Brazilian market, two of main producers in Argentina General Motors and VW have announced adjustments to its production volumes in the country and started implementing production suspension plans.

    The main destination of Argentinean production continues to be Brazil, but more manufacturers are starting to increase their exports to Guatemala, Panama, Costa Rica, Honduras, Peru and New Zealand.

    Source: Kallanish.com
  10. forum rang 10 voda 7 maart 2017 18:35
    Weak euro supports stable S.EU HRC import offers

    Hot rolled coil import offers into southern Europe have remained stable during the last two weeks as the euro has failed to strengthen significantly against the dollar, remaining close to parity, Kallanish learns from market sources.

    Indian mills continue to be the most competitive in south European markets. Italian traders report offers at as low as €510/tonne ($539) cfr, while in Spain the lowest offers are at €515/t cfr. Turkish importers are some €10/t dearer, sources confirm.

    Both in Italy and Spain the stability of import offers has coincided with some small increases in quotes from domestic producers. Italian sources are reporting official offers for HRC at €560/t ex-works base – with transaction prices some €10-20/t below – while in Spain offers stand at as high as €570-580/t ex-works base.

    “The current spread between import and domestic prices is convincing buyers to order from abroad,” a trader notes. Another Italian source nevertheless says that large service centres have already ordered most of their requirement for the first part of the year and can take a break from buying now.

    Since mid-February the euro/dollar exchange rate has remained at around $1.05 per euro, close to the lowest level registered during the last ten years. This has made import offers less competitive against domestic European mills.

    Source: Kallanish.com
  11. [verwijderd] 7 maart 2017 20:39
    Indiana Finance Authority -- Moody's Affirms Ratings of ArcelorMittal's LOC-backed Bonds Series 2005 and 2006

    Moody's Moody'sMar 6, 2017, 9:22 PM

    New York, March 06, 2017 -- Moody's Investors Service has affirmed the long-term joint support letter of credit (LOC) backed ratings of Indiana Finance Authority Environmental Improvement Revenue Refunding Bonds (ArcelorMittal Project) Series 2005 at Aa1 and Series 2006 at A2 (collectively, the Bonds). The short-term ratings of, VMIG 1 on the 2005 Bonds, and VMIG 2 on the 2006 Bonds, remain unchanged.

    RATINGS RATIONALE

    Moody's review of the long-term joint default analysis (JDA) ratings of the Bonds resulted from Moody's upgrade of ArcelorMittal's (the Borrower) senior unsecured rating to Ba1 from Ba2, on February 24, 2017. For more information on that rating action please see the ArcelorMittal's rating update report published on such date.

    The Bonds are supported by direct pay letters of credit provided by Rabobank Nederland for the 2005 Bonds and Banco Bilbao Vizcaya Argentaria, S.A. for the 2006 Bonds (collectively, the Banks). The long-term ratings of the Bonds continue to be based on JDA, which reflects Moody's approach to rating jointly supported transactions. The JDA ratings are based on (a) the long-term Counterparty Risk Assessment (CR Assessment) of the applicable Bank providing the letters of credit, (b) the senior unsecured rating of the Borrower, and (c) the structure and legal protections of the transactions which provide for timely debt service payments to investors.

    Moody's current long-term CR Assessment of Rabobank Nederland is Aa1(cr). Moody's current long-term CR Assessment of Banco Bilbao Vizcaya Argentaria, S.A. is Baa1(cr). Moody's currently maintains a rating of Ba1 on the Borrower.

    Factors that Could Lead to an Upgrade

    -Long-term: Upgrade by Moody's of the underlying rating of the Borrower or the long-term CR Assessment of the applicable Bank.

    Factors that Could Lead to a Downgrade

    -Long-term: Downgrade by Moody's of the underlying rating of the Borrower or the long-term CR Assessment of the applicable Bank.

    -Long-term: Moody's determines the default dependence between the Borrower and the applicable Bank has increased.

    METHODOLOGY
  12. forum rang 10 voda 8 maart 2017 16:28
    Furnace fire breaks out at Eddie Kane Steel steel plant in Masury

    WY TV reported that emergency crews worked Tuesday to contain a fire at Eddie Kane Steel Products in Masury. A fire broke out at the plant on Standard Avenue about 5:20 AM. The building was evacuated.

    The fire reportedly started in a furnace and was contained to that area. The gas was shut off by an employee.

    No injuries were reported.

    No work shifts at the plant were interrupted.

    Eddie Kane Steel produces carbon and alloy steel plate. The company has five locations across the U.S., and the plant in Masury is their flagship facility, according to the company’s website. They are headquartered in New Jersey.

    Source : WY TV
  13. forum rang 10 voda 8 maart 2017 16:31
    Arfin India wins order from JSW Steel

    Press Trust Of India reported that Arfin India Ltd has bagged a supply order worth around INR 107 crore from JSW Steel.

    Arfin India Ltd said in a filing to BSE that the company has bagged an order from JSW Steel Ltd worth around INR 107 crore for supply to its three units located at Bellary, Dolvi & Salem for the financial year 2017-18.

    Source : Press Trust Of India
  14. forum rang 10 voda 8 maart 2017 16:33
    Different organizations express there view on President Trump Buy America domestic procurement preferences

    Different organizations, which represent the overwhelming majority of domestic steel and iron producers and their workers, write to express there absolute and unqualified support for Buy America domestic procurement preferences in US law.

    Source : Strategic Research Institute
  15. forum rang 10 voda 8 maart 2017 16:33
    Slovak government would like to obtain some influence in Kosice steelmaker

    Slovakian Spectator reported that after more than 16 years, US Steel is likely to definitively quit Slovakia. This time, the Slovak government of Robert Fico has not offered the American owners any stimuli to stay in Kosice like back in 2013. It only states that US Steel is a private company and thus it does not have any instruments to prevent the sale of USSK. Nevertheless, PM Robert Fico reiterated several times that the government would like to obtain a share in the biggest employer in eastern Slovakia.

    The potential buyer is the Chinese steelmaker Hesteel Group. It is rumoured that it will pay EUR 1.4 billion for the Kosice-based steel-making operations, US Steel Kosice (USSK). But it is estimated that the Kosice plant employing about 10,000 people suffers from large investment debt and that the new owner would need to investment at least EUR 1 billion to make it competitive on the market.

    Mr Boris Tomiak analyst of Finlord told Pravda that “Americans have been openly talking about the sale of USSK for two or three years. Today they have an ideal opportunity to do so due to increasing steel prices and the growing profitability of the plant. My opinion is that in the end they will decide to focus only on the American market and sell USSK.”

    Mr Tomiak believes that the strategic decision concerning the sale of USSK will affect the corporation for the next five to 10 years.

    Source : Slovakian Spectator
  16. forum rang 10 voda 8 maart 2017 16:34
    Sellal commissions renovated installations at El Hadjar steel complex

    Prime Minister Abdelmalek Sellal on Monday in Annaba has commissioned the renovated installations of the El Hadjar steel complex.The renovation is part of an investment plan set up by the public authorities.

    Earlier, Sellal chaired a meeting with the complex personnel, during which he urged the managing team and the workers to "preserve" what he dubbed "economic and historical asset."

    The investment plan for the complex has been launched in September 2015, after the annual production slumped to 300,000 tonnes liquid steel. Subsequently, the partnership agreement with Group ArcelorMittal was annulled and the State took over all the shares of the complex which becomes subsidiary of Public Group Imetal.

    The renovation which costs USD 430 million concerned the unit of raw materials preparation, the chipboard, the high furnace n°2, the oxygen steelworks n°1, the oxygen central, the energy installations and the logistics network.

    This objective of the first phase is to increase the production to 1.2 million tonnes by 2017-2018.

    The investment plan worth USD 720 million other modernization operations intended to raise the production to 2.2 million tonnes of liquid steel by 2020.

    The 830 hectare El Hadjar complex which first installations date back to 1969 employs 4,100 workers.

    Source : en.aps.dz
  17. forum rang 10 voda 8 maart 2017 16:35
    Dearne MP asks government for budget help for steel industry

    Rotherham Advertiser reported that WENTWORTH and Dearne MP John Healey has called on the government to pledge support for the steel industry in this week's Budget.

    Earlier this month, Mr Healey welcomed an agreement for Tata to sell their South Yorkshire Specialty Steels operation including plants in Rotherham to Liberty House Group. He said it should be a big step in securing steel-making in South Yorkshire for the long-term.

    But Mr Healey said government support was needed and he has called on the Industry Minister Nick Hurd to ensure backing for the steel industry is Wednesday's Budget.

    He said that “UK steel-making is a foundation for much of our wider world-class British manufacturing and no modern country can flourish without steel as one of its strategic industries. So there is a strong case for government action on steel, and this is a case I have made to Ministers many times in recent years.” He added that “I trust in the Budget that the government will finally bring in the support that Ministers have talked about for our steel industry.”

    The MP wants a “buy-British bias” in big government projects and for them to take action on energy costs, business rates and skills and research funding.

    Mr Healey said that, since the National Steel Summit in Rotherham in November 2015, there had been “an unprecedented unity of views” from industry senior executives, trade union leaders and MPs of all parties but there was little mention of steel in the Prime Minister's industrial strategy.

    He also questioned the minister on reports the government had classified the steel industry as “low” priority in the Brexit negotiations, and called on Mr Hurd to give reassurances to steel areas like South Yorkshire.

    Source : Rotherham Advertiser
  18. forum rang 10 voda 8 maart 2017 16:36
    Time ripe for increasing use of steel in infrastructure – Mr Sushim Banerjee

    Mr Sushim Banerjee DG of INSDAG in his personal capacity wrote for Financial Express thanks to the recent Budget announcements by the government giving infrastructure status to affordable housing programmes, it would ease the financial concerns of the developers and would provide immense opportunities for architects, structural engineers and the steel producers to influence them for favouring steel-concrete-composite construction.

    Among other areas of infrastructure building, use of steel in roads, bridges (ROBs/culverts/Rail), urban and rural infrastructure (flyovers, underground tunnels, commercial complexes, stadiums, sports complexes, airports, ports, eco parks, industrial corridors) provides an ideal solution.

    Steel scores over other competing materials in terms of safety, durability and aesthetics. Advantage of steel use in Tension offers ductility and steel structures become more resilient to natural calamities such as earthquakes and storms as steel is well suited under seismic zones. The use of prefabricated structures makes a much faster and dust free, noise free construction and does not cause any disturbances to the surrounding areas.

    For commercial complexes and high rise buildings, the extra space available with steel frames as compared to concrete slabs offers significant financial gains in terms of rents, lower interest burden due to early completion and higher carpet area.

    A classic example of steel’s endurance and ductility (permanent deformation through elongation or twisting at room temperature without fracturing) is the Howrah Bridge at Kolkata.

    Built in 1943, this cantilever bridge used around 26,000 tonnes of indigenous steel and still carries nearly 100,000 vehicles, carriages and an estimated 1,50,000 pedestrians every day.

    Vidynaasagar Setu, a cable stayed bridge next to Howrah Bridge, Patna Bridge are some of the other large bridges where extensive use of steel has been made.

    The Signature Bridge over the river Jamuna is a unique steel suspension bridge that has used steel in the main cables, the suspenders and the Truss Deck.

    Indian Railways, through its design and Standards wing known as RDSO, has been building steel bridges across the railway lines all over the country and some of these steel bridges bear testimony to the best advantages of steel use.

    Mention may be made of Raja Mundri Bridge over the river Godavari, New Bridge near Naihati (WB), Teesta Bridge at Sikkim, Chenub Bridge at high altitude in J&K. The Bailley Bridges and other small span bridges in the hilly and difficult terrains also provide good opportunities for steel use.

    Dismantling of old steel structures to accommodate new designs and elegance would always provide a high salvage value of steel which is 100% recyclable and therefore maintains the inherent properties of original steel.

    The reuse of countless products especially rail and automotive components is also made possible.

    It has been empirically established by World Steel Association that in terms of environmental sustainability, the changes at every phase in the steel production process over the past 50 years have resulted in significant improvements in the resource and energy efficiency in steel production including a 60% drop in energy consumption per tonne of steel produced.

    All these factors counted to calculate Life Cycle Cost puts steel at the top of the list of cost effective materials.

    In Indian roads the use of steel is minimum. The need for wire meshing under the road surface that could provide maintenance free, clean surface for heavy loads is not felt in our country and this has also prevented use of Continuously Reinforced Concrete Pavement (CRCP).

    The use of crash barriers on both sides of National Highways is guided by the IRC-84 guidelines which are outdated and does not address the real concern of safety points of view.

    Even in the hilly areas, there are large tracts on one side without any barrier. It is incumbent on steel industry to approach IRC to issue new guidelines covering these features. Also the use of crash barriers on the medians (dividers) of National Highways is loosely regulated leading to high incidence of fatal accidents.

    This is being taken up with IRC to amend rules. One km of roads needs 55 tonnes of steel (galvanised sheets and structurals) for crash barriers on both sides in NH and hence has a good potential of increasing steel consumption.

    Nearly 40% of steel goes for manufacturing engineering equipments and machineries. The need for steel intensive excavators, high rise cranes, dumpers and other heavy duty equipments depends on demand from infrastructure and construction sectors.

    The demand for pipes and tubes, household appliances and furnitures, electrical equipments, machineries, automobiles, bicycles and a host of other processing industries need steel for making finished products.

    This demand depends on rise in disposable household income, government and private consumption expenditures, exports, transport and communication facilities.

    Source : Financial Express
  19. forum rang 10 voda 8 maart 2017 16:37
    Egypt court orders arrest of steel tycoon Mr Ezz pending retrial on corruption charges

    Ahram Online reported that a Cairo Criminal court has ordered the arrest of Egyptian steel tycoon Ahmed Ezz and former chairman of the Industrial Development Authority Amr Assal pending their retrial on charges of the illegal sale of steel licenses. The court has set 4 April as the trial date.

    In February 2011, a prosecutor accused Assal of squandering public funds and granting a licence without legal merit to Ezz's company, Ezz Steel, for a factory in Ain El-Sokhna on the Red Sea.

    Ezz, who was released from jail on bail in 2014, served as the secretary general of Mubarak’s now-dissolved National Democratic Party (NDP). He also acted as the spokesperson of the NDP in parliament between 2005 and 2010.

    In September 2011, both defendants received 10 years in prison and an EGP 660 million fine. A year later the Court of Cassation ordered their retrial.

    In 2013, Egypt’s economic felonies court acquitted Ezz and two of his associates on charges of engaging in monopolistic practices in the Egyptian steel market.

    Ezz is the former chairman of Ezz Steel, the largest steelmaker in the MENA region, which controls some 50 percent of the country's steel market.

    In August 2015, a Cairo criminal court ordered the seizure Ezz's funds.

    Source : Ahram Online
  20. forum rang 10 voda 8 maart 2017 16:38
    China increased exports of steel to Latin America during January 2017

    Latin American steel association Alecro announced that in January 2017, the total exports of steel from China to the world including finished (long steel, flat steel and seamless pipes) and steel-derivatives products (wire products and welded tubes)- decreased 24% versus Jananuary 2016, reaching 7.2 million tonnes.

    Source : Strategic Research Institute
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