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ADF Group Signs New Commercial Agreements In United States

North American leader in the fabrication of steel superstructures ADF GROUP INC announced the signing of a series of new commercial agreements in the commercial building sector in the United States, worth a total of CAD 165.0 million. The scope of the largest project among this series of new commercial agreements, in terms of value, involves erecting the entire steel structure of a new multi-story building in Southeastern USA and includes design-assist services, the design and engineering of connections, as well as the fabrication and industrial coating. The fabrication and steel erecting work are scheduled to begin next year.

The other largest project, in terms of value, consists in the design and engineering of connections, the supply of the material (steel), the fabrication work, which includes the application of industrial coating, as well as construction engineering services and the installation of the steel structure of a new commercial building on the US West Coast. The fabrication portion of this new project will begin in the coming weeks.

The Corporation expects to finalize the operational and technical details of the first agreement in the coming weeks, and will disclose additional information in a timely manner.

Mr Jean Paschini, Co-Chairman of the Board and Chief Executive Officer, stated that "Our current order backlog recorded a solid increase compared with the same period last year. We are all proud with the work accomplished to date, and we continue our efforts and initiatives to ensure the growth of our order backlog."

The Corporation’s order backlog stood at CAD 255.4 million at the close of the first quarter ended April 30, 2019, excluding the new orders announced today.

All amounts are in Canadian dollars, unless otherwise indicated.

Source : Strategic Research Institute
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Danieli Zero-Bucket EAF In Operation At Guihang Metal Products

The first Danieli Zero-bucket EAF with ECS scrap preheating in China is in operation Chizhou City. On May 5 the first heat was processed. A very quick learning curve allowed more than 110 heats in less than two weeks, leading to the signature of the Acceptance Certificate on May 18. High-efficiency and high-productivity deep pool shell EAF with original continuous charging system guarantees the processing of top-quality products at the most competitive CapEx + OpEx. Gui Hang selected Danieli Zero-bucket solution to replace induction melting, preferring the low electrical energy and electrode consumption ensured by Danieli EAF featuring horizontal continuous charging scrap system (ECS system).

Present tap-to-tap time is 43 min with charging either 100% scrap or 90% scrap + 10% pig iron.

Source : Strategic Research Institute
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Write off NINL Losses Before Takeover - Worker Union

Hindu reported that the recognised union of Rashtriya Ispat Nigam Limited said that it would back RINL’s proposal to acquire Neelachal Ispat Nigam Limited if the losses incurred by NINL were written off as a prerequisite for acquisition. Union president Mr J Ayodhyaram told The Hindu that “NINL would become an asset for RINL by providing partial raw material security.”

Mr Ayodharam said “NINL had incurred a loss of INR 400 crore during the 2018-19 fiscal whereas RINL, after incurring losses for three years, was in the process of earning a net profit during the current year.”

NINL is owned by Metals and Minerals Trading Corporation of India a Central PSU, IPICOL, a Government of Odisha enterprise, and a few other companies. NINL owns a 1.1 million tonne integrated steel plant at Kalinga Nagar in Jajpur district of Odisha and has captive mines with large reserves. NINL is the largest producer of pig iron and owns about 2,500 acres of land. It is awaiting the final nod from the Ministry of Environment, Forests and Climate Change to commence mining of iron ore. The company owns mining blocks in Koira in Keonjhar and Sundargarh districts of Odisha, which has reserves of 110 million tonnes. Mining is expected to start in the second quarter of the current fiscal.

Source : Hindu
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Deaths Rise To 6 In Accident At Fangda Special Steel Company In Nanchang

Xinhua reported that the death toll has risen to six after a gas pipe exploded at a steel factory in the city of Nanchang, capital of eastern China's Jiangxi Province as two more people succumbed to serious injuries, adding to the previously reported four deaths, and four other injured were still receiving treatment. The accident occurred on May 29 at the Fangda special steel company, when an exploded pipe caused an outburst of burning coke, killing one person on the spot.

Jiangxi's safety watchdog has criticized Fangda for neglecting its duty to ensure the safety of its employees and the public, citing that 10 accidents that caused casualties have occurred in the company since 2016.

Source : Xinhua
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Saarstahl AG Invests In Homburg Site Of Its Saar-Blankstahl Subsidiary

Work is now underway to expand the heat treatment capacity at Saar-Blankstahl in Homburg. With the decision taken by the Supervisory Board at the end of 2018 to expand the annealing capacity of its subsidiary, Saarstahl AG is responding to an expected increase in worldwide demand for heat-treated bar material and to demand for higher-quality steels, which also play an important role in electric mobility. The company is investing 17 million euros in this project.

Saar-Blankstahl is a specialist in advanced products made from bright bar steel. The company uses state-of-the-art equipment and manufacturing processes to produce innovative and high-quality solutions tailored to customer specifications, above all for the automotive industry, mechanical engineering, the electromechanical industry and the turned parts and rolling bearing industry. Saar-Blankstahl GmbH purchases rolled material exclusively from its parent company Saarstahl AG.

In the first construction phase, the investment comprises the construction of a roughly 4,300 m² hall with complete infrastructure and cranes, a roller hearth furnace for heat treatment and a straightening machine with a corresponding packaging unit. The new heat treatment plant is scheduled to begin operation in autumn 2020.

Last autumn, the Supervisory Boards of SHS – Stahl-Holding-Saar, AG der Dillinger Hüttenwerke and Saarstahl AG approved investments totaling almost 90 million euros. In addition to investing in further growth as at Saar-Blankstahl, these investments serve to improve environmental protection (48 million euros alone), improve quality, increase efficiency and boost attractiveness as an employer.

Source : Strategic Research Institute
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SMS Group To Revamp Hyundai Steel’s Incheon Heavy Section Mill

After successfully completing the commissioning of its new horizontal straightening machine, Hyundai Steel has awarded SMS group a follow-up order for the revamp of its Incheon heavy section mill in South Korea. With this revamp Hyundai Steel aims to expand its product range towards larger sections with webs of up to 1,100 millimeters and sheet piles up to a system height of 800 millimeters. SMS group takes up this challenge as the leader of a consortium with Hyundai Rotem, a subsidiary of Hyundai Motor Group.

As part of the project, various new functions will be added to the existing two-high breakdown mill stand and a new sideguard manipulator will be installed. The rolling line downstream of the breakdown stand will be replaced by a new CCS® (Compact Cartridge Stands) tandem group and one additional CCS® finishing stand. The stands will feature nominal rolling forces of 12,000 kN for the horizontal rolls and 8,000 kN for the vertical rolls. The CCS® stands will reduce the maintenance effort, and enable a shorter roll change time and higher rolling speeds, while achieving better tolerances.

Commissioning of the new rolling line is scheduled for October 2020.

Source : Strategic Research Institute
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voestalpine Secures 10-Year Contract With Engine Manufacturer Rolls-Royce

A new contract with Rolls-Royce, a world-leading engine manufacturer, again draws on high-performance materials from voestalpine. For a number of years, voestalpine has supplied Rolls-Royce with high-quality steel alloys for engine components from its site in Kapfenberg, in the Austrian federal state of Styria. The current major contract has been secured by Group company voestalpine Böhler Edelstahl, marking its entry into the market for rotating engine disks. The disk materials must meet particularly stringent requirements, having to operate in conditions of up to 16,500 rotations per minute and temperatures of more than 2,000°C inside an engine.

As a new European producer, the Group’s High Performance Metals Division supplies highly sophisticated pre-materials for engine disks which are required to withstand huge forces during flight. High-tech materials and special forgings from voestalpine are already used in structural, undercarriage, wing, and engine parts in all major models of aircraft, from Airbus and Boeing to Embraer and Bombardier. The Group currently generates revenue of around EUR 400 million in the growing aerospace market, and this figure is expected to increase to EUR 500 million over the medium term.

As recently as fall 2018, a new EUR 40 million high-speed forging line went into operation at the site in Kapfenberg, creating the ideal technical conditions for the manufacture of such high-tech products. The contract with Rolls-Royce extends over a period of ten years, with the first deliveries scheduled for 2020.

Source : Strategic Research Institute
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Danieli Provided On Site Technical Assistance And Training At JFE Keihin

Danieli Service has successfully audited a training on assembly/disassembly procedures of oil-film bearing components, as well as inspection, failure analysis, predictive maintenance, fault-finding and evaluation of operating spares, aimed to increase the mill productivity by preventing any major oil-film bearing failure. At JFE Keihin, in Japan, Danieli Service successfully transferred the process, equipment and maintenance practices of DanOil HLU (Hydraulic Locking Unit) for one of the largest wide plate mills in the world.

At EZZ Flat Steel, in Egypt, Danieli Service transferred the assembly/disassembly procedures and oil-film bearing maintenance practices for the Danieli hot strip mill.

Danieli Service provides continuous and valuable assistance for exclusive products such as DanOil and MultiRoll bearings, DanLiner wear plates, DanCut knives, DanJoint spindles and gears, HAGC cylinders, DanRolls, Bending blocks, Coiler Mandrels and work-roll and back-up roll chocks for flat product rolling mills.

Source : Strategic Research Institute
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Bengaluru Steel Flyover Project Dropped - Report

Bangalore Mirror reported that the controversial steel flyover project between Basaveshwara Circle (Chalukya Circle) in the heart of the city and Hebbal is officially off. The Government informed the High Court that the project has been dropped. Following this, the HC disposed a public interest litigation which challenged the construction of the flyover. The project, first announced when Siddaramaiah was the chief minister was revived under HD Kumaraswamy. But it has been opposed by the public, civic activists and environmentalists all along. The project was first proposed in 2016 and was to be 6.5 kms long and cost about INR 2,200 crore.

The government had contended that environment clearance was not necessary for the project as it fell inside the BBMP limits. Around 800 trees were also needed to be cut if the project went ahead. Questions about lack of environmental impact study and consultation with the public did not seem to deter the government.

The government made efforts to show the need for the project. The BDA even released a 3D animation video to show the viability of the flyover and its use. However, continued protests and legal challenges posed put the government on the backfoot and a reluctant government said it was shelving the project.

Source : Bangalore Mirror
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Iran Steel Exports Exceed 1 Million Tonnes in 2 Months

Financial Tribune reported that major Iranian steelmakers exported 1.04 million tonnes of steel during the first two Iranian months (March 21-May 21) to register a YoY decline of 15%, latest data released by the Iranian Mines and Mining Industries Development and Renovation Organization show. The steel mills shipped out 609,349 tonne during the second Iranian month (April 21 to May 21), which shows a 31% decrease compared with the same month of the year before.

With a total of 398,739 tonnes of exports over the two months and 140,278 tonnes in the second month under review, Khouzestan Steel Company was Iran's biggest steel exporter.

Source : Financial Tribune
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SSAB Issues New Five Year Senior Unsecured Bonds Amounting To SEK 2000 Million

SSAB AB has successfully issued senior unsecured bonds in the total amount of SEK 2000m under its EUR 2bn EMTN programme, dated 12 June 2019. The new bonds are due in June 2024 and the fixed tranche carries a coupon of 2,75% and the floating tranche a coupon of 3mS+270bps. The transaction generated strong interest from investors and the issue was oversubscribed. The proceeds will be used for general corporate purposes.

DNB Markets and Nordea Bank Abp acted as financial advisors for the bond issue.

Source : Strategic Research Institute
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MMK Placed USD 500 mm Eurobonds

Magnitogorsk Iron and Steel Works one of the largest steel suppliers in Russia rated Baa2 (Moody’s) / BBB (Fitch) / BBB- (S&P), returned to the international market after more than 15 years with a successful placement of 5-year USD 500 million Eurobonds with an annual coupon rate of 4.375% payable semi-annually. The proceeds of the issue will be used for general corporate purposes.

The issue was oversubscribed by over 4.5 times with the total order book exceeding USD 2.2 billion at the peak. The final book comprised a broad range of international investors, with 31%, 29% and 17% of allocations coming fr om US, Europe and UK, respectively, with the remaining portion attributable to other regions.

Citi, J.P. Morgan and Société Générale acted as the Joint Lead Managers and Joint Bookrunners for the new issue. The US$500,000,000 4.375% Guaranteed Notes due in June 2024 were issued by MMK International Capital DAC, an Irish company formed for the sole purpose of issuing debt instruments and financing loans to MMK.

Mr Pavel Shilyaev, Chief Executive Officer of MMK commented that “We are very pleased with the successful placement of the company's Eurobonds. The 4.375% coupon is the lowest USD coupon on Russian/CIS Corporate issuance in almost 1.5 years and represents ~0 bps new issue premium to the implied Russian Metals & Mining yield curve of the same rating bucket. The issue was backed by a very high level of interest from fixed income investors globally and we believe that the bond has successfully and firmly re-established MMK’s presence in the international bond market.”

Source : Strategic Research Institute
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Surya Roshni Wins Order For Supply Of API Grade 3LPE Coated Line Pipes To Bharat Gas Resources

Surya Roshni Ltd has obtained order aggregating to INR 151.88 crore (excluding GST) for supply of API Grade 3LPE Coated line Pipes to Bharat Gas Resources Limited through e-tender.

Source : Strategic Research Institute
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Moroccan Branch Of Thyssenkrupp Aerospace Delivers First Major Order Thyssenkrupp Aerospace

One of thyssenkrupp Aerospace's strength is customer proximity thereby offering individual and reliable material and supply chain solutions locally. For this reason, the aerospace specialists further expanded their global network last year and built a new location in Morocco. Mr Eric Cornilleau, Managing Director thyssenkrupp Aerospace France said that "The aerospace industry has been growing rapidly over the last years, which is why reliable, timely supply and sustainable quality via a local presence is very important to our customers. Our new materials processing and logistics centre in Casablanca serves precisely these needs and ensures just-in-time supply to our customers.”

The first customers already take benefit from the new warehouse. Since many years, these partners are part of thyssenkrupp Aerospace’s customer base and were previously supplied from France. Mr Cornilleau said that "Thanks to our immediate proximity, we have now significantly shortened the distances to our local customers, which benefits our partners enormously and allows to develop our relationships with additional volumes to be supplied to the Moroccan companies. With the delivery of our first major order for processed aluminum plates, our Casablanca site is fully operational.”

Proximity to local partners is particularly important for short-term delivery requests. In addition, customers no longer have to operate their own warehouses and can have their required materials delivered just-in-time.

The new branch is located on an area of around 3,500 m² (warehouse, production hall and offices) in the Ouled Salah area, between the city centre of Casablanca and the airport industrial area. In addition to the storage of materials such as aluminum, steel and copper in various forms and alloys, the service portfolio also includes extensive processing services. State-of-the-art machines cut the material exactly to customer specifications and deliver it just-in-time to the customer's plant.

Illustrative image material is available for download under the following link

www.thyssenkrupp-materials-services.c...

Source : Strategic Research Institute
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Allegheny Health Department Joins Federal Suit Against US Steel

Pittsburgh reported that Allegheny County Health Department is joining a federal lawsuit against US Steel with the hopes of bringing the most persuasive case possible. The US District Court for the Western District of Pennsylvania on Tuesday granted the Health Department’s motion to intervene in a citizen’s lawsuit, brought by the Clean Air Council and PennEnvironment, against US Steel. The Department explained in a statement that joining the plaintiffs ensures the strongest case possible is brought against US Steel, increases the resources available to the Department and allows for the best possible outcome for public health and impacted residents.

The Health Department filed a motion to intervene in the federal lawsuit on May 3.

The Department will now seek all of the remedies and civil penalties related to the December 2018 fire through federal court.

Source : Pittsburgh
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WSD Names POSCO As World’s Top Steelmaker 10th Year In A Row

World's fifth largest steelmaker in terms of steel production POSCO has been named the world’s most competitive steelmaker by World Steel Dynamics for the 10th consecutive year. It was followed by Nucor of the United States, voestalpine of Austria, Severstal of Russia and Noppon Steel of Japan. Since 2002 when the annual WSD’s ranking announcement began, POSCO had securely retained first place for three years until 2004, albeit its slight dip to second place from 2005 to 2009. This year’s rankings were announced during the 2019 Steel Survival Strategies in New York, on June 19.

POSCO increased the proportion of high-value-added products in total sales to 29.7 percent last year, up 4 percentage points from the previous year A representative product is Giga Steel, a next generation steel plate capable of withstanding a load of 100 kg or heavier per square millimeter. With respect to technology development, POSCO is strengthening its market dominance by developing high manganese steel for energy, earthquake-proof construction steel products, advanced non-oriented electric steel sheets for electric vehicles, and coated steel plates with strong corrosion resistance.

WSD rated 34 steelmakers worldwide based on 23 categories, including size, profitability, technological innovation, price competitiveness, cost reduction, and financial health. WSD has the following total of 23 criteria for evaluating steelmaker competitiveness.

Zie pdf

The evaluation is based on data submitted by each steelmaker and data and materials published outside.

Source : Strategic Research Institute
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Rio Tinto Cuts Iron Ore Guidance Further By 13 Million Tonnes

Rio Tinto Iron Ore said that it is currently experiencing mine operational challenges, particularly in the Greater Brockman hub in the Pilbara, which is resulting in a higher proportion of certain lower grade products, partly to protect the quality of our flagship Pilbara Blend. It said “Around 1.5 million tonnes of these products were sold in the first quarter, as noted in the 2019 Quarterly Operations Review, 16 April 2019. Additional sales of these products will be made during 2019.”

It said “In light of these challenges, there has also been a review of mine plans, resulting in guidance of Pilbara shipments (100% basis) for 2019 being revised to between 320 million tonnes and 330 million tonnes (previously between 333 million tonnes and 343 million tonnes). Given the change in volume guidance, unit costs will be updated in the Q2 Quarterly Operations Review (16 July 2019).”

Source : Strategic Research Institute
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BRUSSEL (AFN) - De wereldwijde productie van staal is in mei op jaarbasis met 5,4 procent toegenomen tot 162,7 miljoen ton. Dat maakte de World Steel Association bekend.

China was goed voor meer dan 89 miljoen ton staal. Dat is een stijging van 10 procent in vergelijking met mei 2018. In India lag de productie 5,1 procent hoger op 8,7 miljoen ton. Japan produceerde met 8,7 miljoen ton minder dan in de meetperiode een jaar eerder.

De Verenigde Staten voerden de productie met 5,4 procent op tot 7,7 miljoen ton. In Italië was een plus van 1,1 procent tot 2,2 miljoen ton te zien. Frankrijk (min 7,6 procent) kampte met een productiedaling tot 1,2 miljoen ton.

De Nederlandse productie kromp tot 610.000 ton van 624.000 ton in mei 2018.

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LISCO Plans To Build 2 Steel Plants

Libyan Iron and Steel Company plans to expand DRI and steelmaking capacity and plans to launch a tender for the construction of two new plants in order to increase production of about 2 million tonnes of DRI and 1.3 million tonnes billets. The expansion aims to provide the company with billet to feed its long steel production capacity.

Mr Mohamed al-Faqih Chairman told Reuters that to feed the new mill, Lisco plans to attract foreign companies to build two plants to produce billets, with a tender worth USD 1 billion to be likely launched next month. Mr Faqih said that “We are preparing the tender documents and that Lisco is targeting large European companies such as Italy’s Danieli or Germany’s SMS Group.”

The steelmaker has been hit by power cuts, shortages and the reluctance of European firms to engage with the country amid chaos since the toppling of Muammar Gaddafi in 2011. But thanks to its location in the western Libyan city of Misrata largely untouched by violence, Lisco managed to keep producing and even open a new bar mill last year with an annual capacity of 800,000 tonnes.

Source : Strategic Research Institute
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CMC Reports Strong Q3 Results

Commercial Metals Company has announced financial results for its fiscal third quarter ended May 31, 2019. For the three months ended May 31, 2019, earnings from continuing operations were USD 78.6 million on net sales of USD 1.6 billion as compared to earnings from continuing operations of USD 42.3 million on net sales of USD 1.2 billion for the prior year period. Revenue increased 33% on a year-over-year basis driven by the Company's growth strategy and strong fundamentals in its core markets. Ms Barbara R Smith, Chairman of the Board, President and Chief Executive Officer, said "The strong results for the quarter reflect the strength of construction activity, as well as solid industrial production levels and the resilient US and Polish economies. Our recent acquisition, our greenfield Oklahoma facility and introduction of hot spooled rebar were all meaningful contributors to top and bottom line financial results. In addition, the fundamentals of the fabrication segment have improved significantly as we have shipped the majority of the lower priced work in our backlog which has resulted in a significant improvement in the segment results."

Americas Recycling segment recorded adjusted EBITDA of USD 12.3 million for the third quarter of fiscal 2019, compared to adjusted EBITDA of USD 19.5 million for the prior year third quarter. Despite a decline in ferrous pricing, CMC generated good EBITDA results in this segment as a result of our diligent buying practice, high inventory turnover and recent investment in separation technology to better refine its end non-ferrous purity levels to achieve higher margins.

Americas Mills segment recorded adjusted EBITDA of USD 158.1 million for the third quarter of fiscal 2019, an increase of 76% compared to adjusted EBITDA of USD 89.6 million for the third quarter of fiscal 2018. The third quarter results include adjusted EBITDA of $53.6 million from the acquired mills on shipments of 469 thousand tons. As a result of decreases in both ferrous scrap cost and our manufacturing costs due to higher production levels, combined with relatively flat selling prices, the per ton EBITDA contribution for Americas Mills segment increased $26 per ton in comparison to the third quarter of fiscal 2018.

International Mill segment in Poland recorded adjusted EBITDA of USD 24.1 million for the third quarter of fiscal 2019, compared to adjusted EBITDA of USD 32.0 million for the comparable prior year quarter. Elevated levels of imported product resulted in a slight compression of metal margins during the quarter. Despite the reduction in selling prices, this segment is on track to earn the second highest level of profitability in its history due to the continued strong non-residential construction market in Poland.

Outlook "Our outlook for demand remains very positive driven by the continued strength in non-residential construction activity levels in our markets. Leveraging the growth in our business from the acquisition, combined with the continued favorable long steel margin environment and improvement in our fabrication segment, we anticipate a strong finish to our fiscal year. We also anticipate that our business will generate strong cash flows, creating the opportunity to reduce our indebtedness levels."

Source : Strategic Research Institute
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