Inloggen

Login
 
Wachtwoord vergeten?

Nieuws en info hier plaatsen (deel 4)

Volgen
 
Klik hier om dit forumtopic te volgen en automatisch op de hoogte gehouden te worden bij nieuwe berichten.
21.672 Posts, Pagina: « 1 2 3 4 5 6 ... 1004 1005 1006 1007 1008 1009 1010 1011 1012 1013 1014 ... 1080 1081 1082 1083 1084 » | Laatste
Aantal posts per pagina:  20 50 100 | Omlaag ↓
voda
0
China Is Not A Market Economy - Alacero

Latin American steel association Alacero said that faced with the information released this week on the fact that China has withdrawn its claim against the European Union to be recognized as a market economy by the World Trade Organization. Latin American Steel Association stated that this fact is very important because it implies a precedent for all the steel products that come from China since it confirms what the steel industry has been affirming for many years: China is not a market economy.

Alacero said that “We've known for a long time that China has been a problem due to all the subsidies its industry receives which have distorted the global steel market. This has been generating a loss of employment and industrial development in Latin America because the local industry can not compete in unfair and uneven competition. The world has sought to defend itself from the global overcapacity caused by China and many countries have imposed measures to mitigate the effects of this unfair trade.”

The current anti-dumping cases show that there is a Latin American reaction towards China's Unfair Trade, although the mechanism has not appeared to be sufficient or effective. Currently there are 10 anti-dumping cases in steel in progress (66 in force) in Latin America, of which 65% are against China. The withdrawn of China from this demand against the European Union provides a new and solid argument to advance in the defense of markets increasingly affected by unfair competition.

Source : Strategic Research Institute
Bijlage:
voda
0
Algoma Steel To Supply Plates For Canadian Navy Vessel

Northern Ontario Business reported that a West Coast shipyard will be sourcing finished product from Algoma Steel to build support ships for the Canadian navy. Seaspan Shipyards of North Vancouver, BC announced June 18 that the plate for Canada’s new Joint Support Ships project is coming from the Sault Ste. Marie sheet and plate producer. The award follows a procurement process conducted by Seaspan’s supply partner, Samuel Custom Plate. Under the contract, Samuel Custom Plate and Profiles will subcontract Algoma to provide the plates used to build part of the hulls for these ships. The value of the contract and the specific steel order were not disclosed in the news release.

According to the shipbuilder, Algoma represents one of almost 80 Ontario suppliers Seaspan is working with under the National Shipbuilding Strategy, representing more than USD 850 million in work to replenish the fleet for the Royal Canadian Navy and the Canadian Coast Guard.

In a Seaspan news release, Algoma Steel CEO Michael McQuade was pleased to get on board. He said that “Being competitively selected to provide a quality Canadian made product is an encouraging endorsement of our capabilities. The Algoma team is very proud to participate once again in a project of such national significance, contributing to the rebirth of the shipbuilding industry here in Canada.”

Source : Northern Ontario Business
voda
0
USITC Keeps Anti Dumping Duty On Cast Iron Pipe Fittings Imports From China

The US International Trade Commission has determined that revoking the existing antidumping duty order on imports of non-malleable cast iron pipe fittings from China would be likely to lead to continuation or recurrence of material injury within a reasonably foreseeable time. As a result of the Commission’s affirmative determination, the existing antidumping duty order on imports of this product from China will remain in place.

This action comes under the five-year sunset review process required by the Uruguay Round Agreements Act instituted on January 2, 2019.

Source : Strategic Research Institute
voda
0
Bristol Based Theis Precision Steel USA Idling Operations

Hartfor Business reported that Theis Precision Steel USA Inc, a Bristol-based maker of steel products, has laid off nearly all of its workers and is idling its more than 300,000-square-foot manufacturing plant. Theis, which manufactures metal components for the housing, medical, construction and automotive industries at 300 Broad St has terminated 30 of its 35 workers

Bristol Mayor Ms Ellen Zoppo-Sassu said that she and Justin Malley, the city’s economic development director, spoke with Theis and union officials to assess needs for workers who are not pension eligible. They also discussed how to best connect workers with retraining programs and health insurance options. Certain displaced workers will lose their employee benefits on June 30, the mayor said.

Theis’ German corporate parent company sold the operation to private investment group TPS Acquisition in January 2014. Theis employed about 90 people at the time of the sale, and had 240 employees in 2001, according to a report by the Middletown Press.

Source : Hartfor Business
voda
0
Vietnam Levies Anti Dumping Duties On Color Coated Steel Sheet Imports

Vietnam’s Ministry of Industry and Trade has announced temporary anti-dumping duties on color coated steel sheets originating from China and the Republic of Korea, which take effect from June 25. Accordingly, Chinese exporters will be taxed from 3.45-34.27% while anti-dumping duties for Korean businesses range 4.48-19.25%. The MoIT said it conducted an eight-month investigation into color coated steel sheet purchase from the two East Asian countries following complaints from domestic manufacturers. The investigation found local steel sector suffered seriously losses as the imported products were being dumped from 3.45-34.27%.

Besides, the dumped goods exerted considerable pressure on domestic production as they affected manufacturing output, sales, revenue, benefit, market share and inventories. Particularly, in the last seven months of 2018, many domestic firms were forced to halt production and a substantial number of workers lost their jobs.

Source : VNA
voda
0
JSW Severfield India Announces Strong 2019 Result

JSSL performed strongly in 2019 and its results are now beginning to reflect the step change in the market for structural steel in India. The Indian market has continued to expand, and we are seeing clear signs of the conversion of the market from concrete to steel which will drive the success and long term value of the business. This position is evident in an order book at 1 June 2019 of GBP 134 million (1 November 2018: GBP 124 million), which now contains a stronger mix of higher margin commercial work. Significant new orders secured in the year include two large commercial projects - Sattva, in the state of Hyderabad, and Amaravati, in the state of Andhra Pradesh, together with numerous industrial projects, many of which are for our joint venture partner, JSW Steel. The expanding market position is also reflected in a pipeline which includes a growing large number of potentially interesting commercial projects for key developers and clients with whom we are now developing strong relationships. In addition, we also have visibility of an increased pipeline of industrial work, including those for JSW, which is currently expanding its domestic steel output, a process which we expect to continue for the foreseeable future.

In 2019, JSSL continued to grow and has increased its profit during the year, of which the Group's after tax share was GBP 1.2 million (2018: GBP 0.5 million). The higher profitability in the year reflects both increased revenue and good operational performance, together with lower financing costs following the repayment of the term debt in June 2017. JSSL's revenue has increased significantly to GBP 84 million compared with GBP 48 million in the previous year, driven by higher volumes of industrial work in 2019, a position which was also manifest in the higher order book coming into the financial year. This greater mix of industrial work has resulted in a reduction in the operating margin to 6.4% compared to 9.2% in 2018, however, given the greater proportion of commercial work in the current order book, we expect to see an improvement in the operating margin in the 2020 financial year and beyond.

The expansion of the Bellary facility, which will increase factory capacity from 60,000 tonnes to 90,000 tonnes, is now well underway and is expected to be completed towards the end of the 2020 financial year. During the year, JSSL has strengthened its senior management team, enhanced and expanded its subcontracting supply chain partnerships and is up skilling its workforce, bringing people with new skills into the business to support the expansion and to provide the business with the springboard to deliver future profitable growth.

It said “Overall, we remain excited about the long-term development of the market and of the business, especially considering the encouraging market developments and step up in the order book and we expect that value will continue to build in JSSL as it continues to expand and develop.”

Source : Strategic Research Institute
voda
0
CSC Cautious About Q3 As Demand Slows Down - Mr Wong

Taipei Times reported that China Steel Corp is cautious about the third quarter, as a sluggish global economy has dragged down market demand since the fourth quarter of last year amid a lingering US-China trade conflict. However, the nation’s biggest steelmaker still has high hopes for the fourth quarter and believes that transferring orders would benefit the company due to growing demand for vehicle parts in the US. CSC chairman Mr Wong Chao-tung said that he is also confident about the fourth quarter due to more Taiwanese companies relocating back to Taiwan, in particular those specializing in routers and servers, which would drive up demand for laminated products. He said that “We hope the company will outperform the industry in the fourth quarter, as it is traditionally a high season for the industry, adding that an upcoming G20 summit might bring a resolution to the US-China trade dispute.

Mr Wong said that despite shareholders’ concerns over rising production costs, the company is striving to increase investment to up to 1% of revenue into research and development as it looks to integrate artificial intelligence technologies into its plants to improve manufacturing efficiency.

CSC reported net profit of NTD 4.14 billion (USD 132.06 million) for the first quarter, down 24.11% from NTD 5.46 billion in the same period last year. Cumulative revenue in the first five months of this year totaled NTD 161.76 billion, a slight increase of 0.89% from a year earlier, company data showed.

Source : Taipei Times
voda
0
Tata Steel’s Debt Rises In FY19

According to the 112th annual report for FY19, Tata Steel’s standalone net debt for the full year ended March 2019 more than trebled to INR 28,471 crore, from INR 8,769 crore a year ago. On a consolidated level, the net debt was higher by INR 25,664 crore nearly 37% YoY and stood at INR 94,879 crore, against INR 69,215 crore in the previous year. The gross debt at over INR 1 lakh crore was higher by INR 8,669 crore over the previous year.

The standalone net debt to equity increased 0.42 times during the year against 0.15 times in the full year ended March 31, 2018, which was primarily on account of a significant decline in cash and bank balances and other liquid investments.

The company’s net debt to equity at a consolidated level increased to 1.42 times against 1.37 times in the previous year.

Source : Strategic Research Institute
voda
0
Recovery Rate In Round 2 Of Steel Asset Resolutions To Be Lower - CRISIL

Research wing of rating agency Crisil said that “Even though recovery rates from stressed assets in the steel sector have been higher till now, the same is expected to dip in the next round of resolutions. Within the steel sector, 17 new assets involving outstanding dues of INR 62,000 crore are coming up, which could see lower recovery rates. Unlike the first wave of debt clean-up, the upcoming resolution cases would largely be smaller assets concentrated in the long integrated (42 per cent of INR 62,000 crore in six accounts), sponge iron (38 per cent in six accounts), and flat-rerolling space (three accounts, 18 per cent).”

Operational and financial creditors have had to take a 58 per cent haircut on underlining dues of INR 1.7 lakh crore in the 94 companies resolved through the Insolvency and Bankruptcy Code till March 2019. Sixteen of the accounts were in the steel sector, where the haircut required was a lower 47 per cent, as compared to the 69 per cent for other sectors.

Source : Strategic Research Institute
voda
0
India’s Steel Ministry Seeks 15% Import Duties On Steel Imports

India’s steel ministry has sought an immediate increase in import duties on finished steel products to 15% from a range of 7.5% to 12.5%, citing a threat from Chinese imports and excess global capacity, an internal note reviewed by Reuters showed. The steel ministry has proposed the higher duties as part of its recommendations to the finance ministry for the upcoming 2019-20 budget that is due out on 5 July. India’s steel ministry said that “The US-China trade war is threatening Indian markets as China looks for alternative markets for its steel exports. India’s steel sector needs protection from unfairly traded cheap steel imports as well as lower input costs.”

It added that “Peak rates for all steel products may be raised to 25% to meet any contingency arising from potential adverse global market turmoil.”

Existing anti-dumping and countervailing duties have been rendered ineffective by the volatility in steel prices, the ministry said.

Source : Strategic Research Institute
voda
0
ArcelorMittal Indiana Plant Fined For Safety Violations

NWI Times reported that Indiana Department of Labor's Occupational Safety and Health Administration determined that a baghouse operator was exposed to lead dust at 20 times the permissible exposure limit and cadmium dust at 14 times the limit for eight hours in the Main Stack Baghouse at the mill. The state agency is seeking USD 5,000 for each exposure. The state's citations order ArcelorMittal Indiana Harbor to develop a plan for controlling employee exposures to hazardous substances such as lead and cadmium. IOSHA is mandating an evaluation of engineering/administrative control options; selection of optimum control methods and completion of design; procurement, installation and operation of selected control measures; and testing and acceptance or modification/redesign of controls. The state said in a safety order that "All proposed control measures shall be approved for each particular use by a competent industrial hygienist or other technically qualified person. 30-day progress reports are required during the abatement period."

By July 5, ArcelorMittal must select engineering and administrative controls to limit steelworker exposures to lead and cadmium at the mill, according to IOSHA's order. By September 5, the control measures must be put in place.

ArcelorMittal has been working with the state to resolve the issues. ArcelorMittal spokeswoman Mary Beth Holdford said “ArcelorMittal has robust programs in place within all of its US operations to address workplace exposures in compliance with OSHA standards. While we cannot comment on the specifics of this pending matter, we are working with IOSHA to resolve the citations."

ArcelorMittal has a period of 15 days to either pay the state's fine or contest it. Holdford declined to comment on if ArcelorMittal is mounting any challenge to the alleged safety violations.

Source : NWITIMES
voda
0
Opel To Invest In Hot-Forming Steel Facility At Kaiserslautern

PSA-owned Opel is to invest in a German manufacturing facility in a move that will safeguard its long-term future. Opel said its management and the works council of the Kaiserslautern plant have set the course for increasing the long-term competitiveness of the site. The parties agreed among other things to invest in the construction of a facility for the hot-forming of steel. As a result, Kaiserslautern will become only plant to use this technology in the Groupe PSA production network. Moreover, the social partners agreed to keep a constant eye on new investments to secure site utilization. The common goal of the social partners is to maintain a healthy age structure in the plant.

According to the agreement, young skilled workers will be given permanent contracts. This also applies to the current trainees who successfully complete their training in the coming years up to 2023. In addition, the social partners agreed to hire 34 apprentices per year in the same period of time.

In order to lower the wage costs, additional employees may temporarily leave the company based on the existing social plan. The opportunity to participate in a partial retirement programme was extended to employees born in and before 1961.

Source : Strategic Research Institute
voda
0
Kloeckner & Thyssenkrupp Reported To Be In Merger Talks

German Manager Magazin, without citing its sources, reported that Thyssenkrupp could take over the German metals distributor Kloeckner & Co to boost its trading business. It said “ Mr Guido Kerkhoff, CEO of Thyssenkrupp, has already had an initial discussion with Gisbert Ruehl, head of Kloeckner. When Thyssenkrupp’s depleted coffers are filled again from asset sales or the planned separate listing of its elevator unit, expected to take place in the first half of next year, it could take over Kloeckner.”

A Kloeckner & Co spokesman said that Ruehl and Kerkhoff are in regular contact on a range of topics but we are not aware of any plans for a takeover of Kloeckner & Co by Thyssenkrupp.

Klöckner & Co SE is one of the largest producer-independent steel and metal distributors in the overall market of Europe and North America. The main business of the company is the warehousing distribution of steel products and non-ferrous metals as well as the operation of steel service centers. In addition, customer-specific processing services such as sawing, plasma and flame cutting, sandblasting, priming and bending are offered. Klöckner converted goods and services worth 6.79 billion euros in the past financial year. The Group made a bottom line profit of 67.8 million euros.

Source : Reuters
voda
0
Karnataka Iron Ore Exports Set To Resume

Deccan Herald reported that iron ore miners in Karnataka are gearing up to resume exports of the key steel-making raw material, 9 years after the imposition of a complete ban on exports from the state. Recently, the Supreme Court-appointed Monitoring Committee recommended to the apex court for limited withdrawal of export ban subject to fulfilment of certain conditions. The court is likely to hear the matter next month. The Karnataka government, in July 2010, had imposed a blanket ban on exports, which was subsequently upheld by the Supreme Court in 2011. If all goes well, the miners hope to resume exports during the second half of the current financial year. The Monitoring Committee is of the opinion that only low-grade iron ore fines 54-58% Fe can be allowed to be exported.

However, it said the lumps high-grade should not be touched. It is estimated that around 6 million metric tons of iron ore fines can be exported, half of which contain less than 57% Fe iron content. It is expected that an estimated revenue of INR 180 crore could be earned by the state government in the form of royalty, taxes and SPV contribution. The railways can add another INR 300 crore to their topline if they carry iron ore for exports to the port.

Mr Basant Poddar, former chairman of the southern chapter of Federation of Indian Mineral Industries said that “The withdrawal of export ban will lead to a level playing field in the industry. As there is no demand for the low-grade iron ore from the steel industry in the state, it would help the miners to get market for their produce. Also, it will help in earning valuable foreign exchange for the country, besides the idle railway rakes could be put to some use.”

However, acceptance of the Monitoring Committee recommendations is subject to no objection from the Karnataka government. The state government is yet to submit its views to the apex court.

Source : Deccan Herald
voda
0
South American crude steel output rises in May

South American crude steel production grew year-on-year in May, according to the latest World Steel Association (worldsteel) data monitored by Kallanish.

The region's crude steel output totalled 3.53 million tonnes in the fifth month of the year, or 2.1% more over the same period in 2018. During January-May crude steel production amounted to 17.67mt, a decrease of -2.7% over the corresponding five months of last year.

In May, Brazilian crude steel production reached 2.75mt, up by 2.9% y-o-y. The second-largest producer in the region, Argentina, saw its crude steel output slip by -0.7% y-o-y in May to an estimated 435,000t. This figure differs from local steel association Cámara Argentina de Acero (CAA) data. According to CAA, May production was 406,800t, -7.2% lower y-o-y (see related article).

The third-largest steel producer in South America in May was Peru with an estimated output of 110,000t, or 4.6% more y-o-y. Peruvian crude steel production rose by 2% in the first five months to 513,000t, worldsteel data show.

Meanwhile, Chilean five-month production is estimated to have increased by 9.9% y-o-y to 504,000t. The country’s output was 105,000t in May alone, up by 30.7% on the same month in 2018.

Further north, Mexico saw its five-month crude steel production fall -6.3% on-year to 8.14mt. Mexico’s output also slipped by -4.1% on-year in May to 1.67mt, according to worldsteel data.
voda
0
Global Crude Steel Production In May 2019 Up By 5.4% YoY - worldsteel

World crude steel production for the 64 countries reporting to the World Steel Association was 162.7 million tonnes in May 2019, a 5.4% increase compared to May 2018. China’s crude steel production for May 2019 was 89.1 million tonnes, an increase of 10.0% compared to May 2018. India produced 9.2 million tonnes of crude steel in May 2019, up 5.1% on May 2018. Japan produced 8.7 million tonnes of crude steel in May 2019, down 4.6% on May 2018. South Korea’s crude steel production stood at 6.4 million tonnes, up 2.2% on May 2018.

Top-10 landen, zie pdf

Source : Strategic Research Institute
Bijlage:
voda
0
Trump Trade War - SC Declines To Hear Challenge To Section 232 Steel Tariffs

US Supreme Court Monday declined to hear a challenge to the constitutionality of President Donald Trump’s imposition of tariffs on steel for national security reasons. The court’s decision not to consider the case means that Court of International Trade’s ruling will remain.

The case was filed by the American Institute for International Steel and two of its member companies: Texas-based Sim-Tex, a wholesaler of oil and gas pipe, and Kurt Orban Partners, an international steel trader based in California. American steel importers asked in April for the Supreme Court to review a March ruling from the US Court of International Trade that upheld the constitutionality of Trump’s use of Section 232 of the Trade Expansion Act of 1962 to impose tariffs. The plaintiffs originally argued that Section 232 was far too open-ended and allowed the president to make a decision without any check from Congress or a requirement for judicial review.

The American Institute for International Steel said that it is disappointed that the Supreme Court did not agree to hear this case at this time. AIIS said “It is rare for the Supreme Court to agree to hear a case before a ruling by the Court of Appeals, and our appeal will now heard by the US Court of Appeals for Federal Circuit. We continue to believe that we have a strong legal case that section 232 is unconstitutional. Once the Federal Circuit has spoken, we expect that the losing party will ask the Supreme Court to review that decision.”

Source : Strategic Research Institute
voda
0
Evraz Considering Buying French Part Of British Steel – Report

Financial Times, citing people aware of the situation, reported that Evraz PLC is interested in buying part of British Steel. FT report said “The Russian metal and mining group, whose biggest shareholder is Chelsea Football Club owner Roman Abramovich, is looking specifically at British Steel's business in France, which supplies rails for train lines.”

British Steel collapsed into compulsory insolvency last month after the UK government rejected its request for a second bailout, putting 5,000 jobs at risk.

Source : Morning Star
voda
0
Taranto Child Leukemia Admissions Up – Mr Grillo

ANSA reported that Italian Health Minister Giulia Grillo told that leukemia admissions for children aged zero to 19 in the area of the former ILVA steel plant in Taranto showed an increasing trend in 2014-2017

Cancer rates have been above the national average for years around the formerly high-polluting ILVA plant, which is now run by ArcelorMittal.

The Italo-Indian consortium is conducting an environmental clean up and industrial revamp to clean the local air while preserving jobs at the plant, the biggest steel factory in Europe.
Source : ANSA
Bijlage:
voda
0
Tata Steel To Seek Shareholders' Nod To Reappoint Mr TV Narendran As CEO & MD

Tata Steel said that it will seek shareholders' nod for the reappointment of TV Narendran as CEO and MD of the company. It will also seek shareholders' approval for the appointment of Mr Vijay Kumar Sharma as a director and reappointment of Mallika Srinivasan and OP Bhatt as independent directors

The company's next Annual General Meeting is scheduled for July 19, 2019 in Mumbai.

Source : Strategic Research Institute
21.672 Posts, Pagina: « 1 2 3 4 5 6 ... 1004 1005 1006 1007 1008 1009 1010 1011 1012 1013 1014 ... 1080 1081 1082 1083 1084 » | Laatste
Aantal posts per pagina:  20 50 100 | Omhoog ↑

Plaats een reactie

Meedoen aan de discussie?

Word nu gratis lid of log in met je emailadres en wachtwoord

Direct naar Forum

ArcelorMittal Meer »

Koers 13,194   Verschil +0,14 (+1,06%)
Laag 12,792   Volume 8.155.386
Hoog 13,350   Gem. Volume 8.457.455
18-okt-19 17:35
label premium

ArcelorMittal: Wanneer draait de automarkt?

Het laatste advies leest u als IEX Premium-lid

Inloggen Ontdek Premium