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voda 28 juli 2022 07:13
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Jindal Stainless (Hisar) Increases Sale by 13% in Apr-Jun’22

Strategic Research Institute
Published on :
28 Jul, 2.022, 6:40 am

Jindal Stainless (Hisar) Limited’s standalone revenue, EBITDA & PAT stood at INR 3,071 crore, INR 316 crore & INR 195 crore respectively during April-June 2022 quarter. On a consolidated basis, Jindal Stainless (Hisar) Limited’s revenue, EBITDA & PAT were recorded at INR 3,454 crore, INR 337 crore & INR 308 crore respectively. Jindal Stainless (Hisar) Limited Managing Director Mr Abhyuday Jindal said “Q1 of FY23 posed various unforeseen macro-economic challenges that impacted the overall sales volumes for the Indian stainless steel industry. The imposition of a 15% export duty by the Indian government further aggravated the domestic market which is marred by unwarranted imports. Despite the challenges, JSHL catered to the demand from key sectors in the country. Simultaneously, JSHL is developing new stainless steel specialty grades and finishes to serve a wide array of critical applications. Going forward, we will implement various green energy projects including the installation of a Green Hydrogen plant at our manufacturing facility.”

Standalone Performance

Revenue - INR 3,071 crore, up by 22% YoY

EBITDA - INR 316 crore, down by 17% YoY

PAT - INR 195 crore, down by 19% YoY

Sales Volume - 132,172 tonnes, up 13%

Domestic Sales - 83%

Exports - 17%

Jindal Stainless (Hisar) Limited is set to install a Green Hydrogen Plant on Build-Own-Operate (basis for its manufacturing processes. Through this venture, the Company will be able to conserve power and reduce its carbon emissions considerably. Additionally, the Company has successfully installed automated lime handling system, energy efficient motors IE3 and has commissioned oxy-fuel burners at its manufacturing facility. Further, the Company aims to install rooftop solar power generation and waste management systems in Q2 of FY23.

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voda 29 juli 2022 06:38
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Acerinox Reports Best Half-Year Results in History in Jan-Jun 2022

Strategic Research Institute
Published on :
29 Jul, 2.022, 6:18 am

Madrid headquartered Spanish stainless steel giant Acerinox has reported best half year results in its 52-year history for January to June 2022. Group EBITDA totaled EUR 945 million, increasing by 150% compared to the same period of 2021, when EBITDA totaled EUR 378 million. The Group’s net profit amounted to EUR 609 million, a 201% increase compared to the same period of 2021, when profits totaled EUR 203 million. Revenue also increased significantly in the first six months of 2022 to total EUR 4,821 million, giving rise to a 57% increase compared to the first half of 2021. During this six-month period, Acerinox produced 1.29 million tonnes, a slight decrease compared to the same period of 2021, when production totaled 1.34 million tonnes.

The improvement in performance during the first half of 2022 was progressive. In the second quarter of 2022, EBITDA increased by 24% compared to the first quarter, increasing from EUR 422 million to EUR 523 million. Revenue increased by 11% to EUR 2,535 million compared to the previous quarter, and net profit increased from EUR 266 million in the first quarter to EUR 343 million in the second, a 29% increase.

Acerinox said “There remains a healthy demand from end customers, but there has been a drop in dealer orders following the end of the inventory replenishment process that started at the end of 2020. The strength of the market and the stability of costs in the US, coupled with the Group’s order backlog, provide us with optimism for the third quarter. The exceptional EBITDA achieved in the second quarter, helped by the revaluation of inventories, is a new historical record for Acerinox.”

Acerinox CEO Mr Bernardo Velázquez said “We are witnessing a process of regionalization. The regionalization process that is taking place will increase local purchases and will offset, to a certain extent, the economic recession. Not only do we expect a greater local purchasing component in our main markets, but the closer sourcing will also boost the development of the entire industry in the countries in which we operate, which will further promote stainless steel consumption. If we add to this situation the congestion and high transport costs and the measures against unfair competition in the different markets, which will make exports less competitive, we believe that this new decade that we are starting in such a turbulent way will allow us to value the geographical diversification of the Acerinox Group and all the progress we are making, which will boost Acerinox’s results.

Expected EBITDA in the third quarter of 2022 is likely to be above the average quarterly results of the excellent 2021, the best year in the Group’s history. The second half of the year will be marked by the conflict in Russia and Ukraine and the many uncertainties arising therefrom. The factor which causes greatest concern at the moment is energy, not only because of high prices in Spain, but also because of uncertainties about future regular supply in Germany.

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voda 2 augustus 2022 06:48
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China's Crude Stainless Steel Production Shrinks in H1 of 2022

Strategic Research Institute
Published on :
2 Aug, 2.022, 6:36 am

China Special Steel Enterprises Association’s Stainless Steel Branch announced that China’s crude stainless steel output totaled around 16.35 million tonnes in January-June 2022, decreasing by 5.3% YoY. The apparent consumption of stainless steel during the given period was approximately 14 million tonnes, a decrease of 5.4% YoY.

During the period, China imported around 1.68 million tonnes of stainless steel, a YoY increase of 19.6%. Meanwhile, the exports of stainless steel totaled 2.42 million tonnes, up by 10.6% YoY.

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voda 2 augustus 2022 06:49
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Linde to Build ASU at Jindal Stainless Kalinganagar

Strategic Research Institute
Published on :
2 Aug, 2.022, 6:37 am

Leading industrial gas supplier Linde India has inked a long-term agreement with Jindal Stainless to construct a 1,450 tonnes per day air separation unit to meet the latter's gas requirements at JSL’s plant at Kalinganagar in Odisha.

The new ASU will supply to JSL 1,450 tonnes per day of Oxygen, 1,800 tonnes per day of Nitrogen and 64 tonnes per day of Argon and will have additional capacity to cater to demand in the merchant market.

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voda 5 augustus 2022 06:45
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Air Products Aids Columbus Stainless to Solve Oxygen Crisis

Strategic Research Institute
Published on :
5 Aug, 2022, 6:13 am

Leading industrial gas provider Air Products has recently assisted their biggest argon customer Columbus Stainless to overcome a production challenge which could have had a severe impact on their operations. Air Products team was approached by Columbus Stainless in Middelburg in South Africa in June to assist in providing a solution for the emergency oxygen supply. The Air Products team acted swiftly to ensure that Columbus Stainless could continue their production with a minimal downtime period averting delays for their export trade.

Columbus Stainless was confronted with a major interruption in the oxygen supply via the pipeline. Due to the oxygen supply pipeline interruption and the Air Products argon installation on site not being utilized, an option was recommended by the technical team to modify and utilize the existing argon storage and vaporization system for an alternate supply of oxygen into the plant. By changing the equipment service use from argon to oxygen, all required controls would be available with minor modifications requiring a temporary pipeline to provide an interconnection between this installation and the plant oxygen supply pipeline. The core requirement was to connect approximately 24 meters of three inch stainless steel pipe as a temporary gas supply solution.

The process of converting the crude argon system to oxygen was seamless as Air Products uses oxygen clean components as a standard for all gas applications. The product in the tanks had to be run down, and the system had to be purged to change service from crude argon to oxygen. An oxygen fill flange with an adaptor had to be fabricated and installed onto the current crude argon fill flange. The crude argon low pressure tank control, electrics and transfer pump had to be isolated and disabled. Concurrently, a three inch stainless steel pipe had to be fabricated, welded and installed from the crude argon system to the tie-in point on site.

Air Products relationship dates back to the 1980’s, before the company was renamed Columbus Stainless. Over the years, Air Products has gradually increased the volume of industrial gas products to Columbus Stainless, the only stainless steel mill in Africa and part of the Acerinox Group of companies.

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voda 5 augustus 2022 06:46
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BaoSteel Develops Thick Stainless Steel Plates for LNG Pipelines

Strategic Research Institute
Published on :
5 Aug, 2022, 6:16 am

Chinese steel giant BaoSteel’s Heavy Plate Division has successfully delivered 98mm thick & 3000mm wide high performance S31603 stainless steel plates for pressure vessels directly rolled from large steel ingots recently, realizing the first domestic launch of similar extra-thick stainless steel products.

The Heavy Plate Division of BaoSteel integrated the resources of the whole process of stainless steel manufacturing, gave full play to the process and equipment advantages of partners in each ecosystem, and opened up key production links in series, forming a large steel ingot Mass production capacity of straight rolled extra thick, high quality, high performance stainless steel sheets for pressure vessels.

The team first launched 12.7mmx3790mmx12000mm stainless steel plates for domestic high-precision and ultra wide LNG pipelines substituting imports to connect LNG carriers to onshore LNG storage.

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