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voda
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US raw steel production update for August 24th

In the week ending August 24th 2013, domestic raw steel production was 1,861,000 net tonne while the capability utilization rate was 77.7%. Production was 1,897,000 net tonne in the week ending August 24th 2012, while the capability utilization then was 76.3%.

The current week production represents a 1.9% decrease from the same period in the previous year. Production for the week ending August 24th 2013 is down 0.9% from the previous week ending August 17th 2013 when production was 1,878,000 net tonne and the rate of capability utilization was 78.4%.

Adjusted YTD production through August 24th 2013 was 62,853,000 net tonne, at a capability utilization rate of 77.1%. That is a 4.4% decrease from the 65,742,000 net tonne during the same period last year, when the capability utilization rate was 77.8%.

Broken down by districts production for the week ending August 24th 2013 in thousands of net tonne
North East: 213
Great Lakes: 604
Midwest: 244
Southern: 707
Western: 93

Source - Strategic Research Institute
voda
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ArcelorMittal to invest USD 55 million in blast furnace in Cleveland - Mr Granakis

According to Mr Mark Granakis president of Local 979 of the United Steelworkers, the ArcelorMittal steel mill in Cleveland will invest USD 55 million in one of its 2 blast furnaces.

Mr Granakis said that the blast furnace on the east side of the Cuyahoga River will go down September 5th and remain inoperative for a little more than 2 months while a new brick lining is installed.

The blast furnace is where iron ore is converted into molten iron before being shipped to a basic oxygen furnace where it is then turned into steel.

He said that the work will increase blast furnace capacity by 500 tonne to 600 tonne a day, or about 10% more than what is produced today.

He added that the upgrade will allow the company to make more products, including high-strength steel, which is in demand by auto manufacturers. The company has been making changes to other parts of the mill to allow for the production of newer, tougher grades of steel.

Mr Granakis said that the increased production won't change employment numbers.

He said that "We're going to keep everybody at work and nobody's being laid off."

He further added that more than 1,500 hourly workers are employed at the plant, the most since the mill was restarted by International Steel Group in 2002 following a shutdown the previous year by prior owner LTV.

Source - www.cleveland.com
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L.s.,

AMSTERDAM (AFN) - ArcelorMittal is per 23 september verwijderd uit de Euro Stoxx 50. Dat is vrijdagavond bekend gemaakt.

Euro Stoxx 50 is een graadmeter van de meest toonaangevende Europese fondsen. De verandering maakt deel uit van een revisie die elk jaar wordt uitgevoerd. ArcelorMittal wordt in de graadmeter vervangen door Deutsche Post.

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voda
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China debt laden steel industry on the brink of bankruptcy

IB Times reported that money losing steelmakers in China, which produces nearly half the world's steel, are mired in debt, and a breakdown in the funding chain could quickly result in a wave of bankruptcies in the sector, reports Beijing's Economic Observer.

Mr Li Xinchuang head of the China Metallurgical Industry Planning and Research Institute, warned that steel companies may run into a liquidity squeeze in less than a year, which could have a domino effect and knock down the entire sector. More importantly, the steel industry is linked to many other sectors of the economy, and if steel goes under, it will most certainly pull others down.

Steel companies in China enjoy huge subsidies from local governments, whose main focus is to meet job and growth targets. Encouraged by easy financing and cheap energy supplies, the country has steadily built more steel mills than needed.

Currently, the world’s second-largest economy has about 300 million metric tons of excess steel capacity, equivalent to nearly twice the steel output of the whole European Union last year.

The latest figures from the China Iron and Steel Association reveal that 86 of China’s large and medium-sized steel companies accumulated more than CNY 3 trillion (USD 486.4 billion) in debt by the end of June. This puts the debt-to-asset ratio of these firms at close to 70% a big red (pardon the expression) flag. Of this debt, CNY 1.3 trillion is in outstanding bank loans.

The steel industry, compared with other industries, tend to have a higher leverage ratio, CISA Deputy Secretary General Mr Qu Xiuli told the Economic Observer. While a leverage ratio of 60% to 70% is normal, anything above 80 percent spells trouble.

Source - IB Times
voda
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ArcelorMittal FCE supplies 140,000 tonnes of steel for drinks cans

In 2013, ArcelorMittal Flat Carbon Europe will supply an estimated 140,000 tonnes of drawn and wall iron steels to beverage can producers across the globe.

However, these will be produced in our FCE Packaging Europe sites in Florange (France), and Aviles (Spain). The unique properties of our steels enable our customers to produce 2,000 beverage cans per minute, with can walls that in some parts are not thicker than 60µm (comparable to paper thickness 100µm).

Across Europe, more than 59 billion drinks cans (aluminium and steel) were filled in 2012, a 3.7% increase compared with 2011, and an impressive 55% increase over the past 10 years.

Mr Gilles Mangin, senior specialist, Global R&D packaging development, said that “ArcelorMittal FCE has long been recognised by beverage can manufacturers as an innovative steel supplier, after introducing metallurgical solutions to drastically reduce the amounts of steel needed to produce a can. Reducing costs related to metals consumption is one of the key objectives for our customers, as it represent about 50% of the final cost of a beverage can. This is achieved by reducing the metal thickness of can walls, and ArcelorMittal FCE is aiming at thicknesses between 0.190 millimeter to 0.180 millimeter, significantly below current standard levels of 0.210 millimeter.”

Our customers include Ball Corporation and Crown, leading beverage can manufacturers in North America and Europe, and among the world's leading suppliers of metal packaging to the beverage and food industries.

Steel cans offer several benefits to manufacturers and the retail trade: they are easy to brand, easy to fill at high volumes, extremely rigid and tough, both on filling lines and at the point of sale, and fully recyclable. The steel beverage can is a modern phenomenon on a global scale.

Meanwhile, ArcelorMittal FCE Packaging Europe is a world leader in DWI steel and offers an organisation fully dedicated to the entire beverage industry, thanks also to a team of experienced engineers who aim to continuously improve processes and support new developments at the customers’ premises.

Source - Strategic Research Institute
voda
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Iron ore inventory at Chinese ports shows significant rise

As of August 27, inventory of iron ore at 25 major Chinese ports amounted to 73.431 million tonnes indicating an increase of 1.866 million tonnes or 2.6% week on week.

As of the same date, the Xinhua China Iron Ore Price Index for imported iron ore with 63.5% iron content was at 137 points down one point compared to one week earlier. Meanwhile, the Xinhua China Iron Ore Price Index for imported iron ore with 58% iron content was at 127 points on the given date also down one point week on week.

Over the past week, Chinese domestic iron ore prices have followed a weak trend, with imported iron ore prices indicating their first decline in August. Currently, imported iron ore prices are still at high levels, while there have been no significant changes in supply and demand.

Mining companies and traders are still unwilling to sell at lower prices which contribute to the stability of iron ore prices. Steelmakers' profit margins have narrowed due to the increases already witnessed in raw material costs. Most Chinese steelmakers prefer to maintain a wait and see stance after the restocking they previously carried out.

Although prices of imported iron ore fines have decreased below USD 140 per tonne traders are optimistic on the prospects for the iron ore market in the future due to the relatively good economic situation and the absence of change in supply and demand. It is expected that domestic iron ore prices in China will follow a stable trend in the coming week.

Source - Visit www.steelorbis.com for more
voda
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China steel industry to continue slender profit on rising cost

According to figures from National Bureau of Statistics, China has produced 420.43 million tonnes of pig iron in January to July 2013, up 6% year on year; 455.80 million tonnes of crude steel, a rise of 7.1% from a year earlier; 609.52 million tonnes of steel products (including post working products), rising 10.4% compared to the same period last year. Daily crude steel production of the whole country hit 2.15 million tonnes and the annualized rate reached 785 million tonnes.

In July, China has produced 60.02 million tonnes of pig iron, a rise of 5.0 percent from a year earlier; 65.47 million tonnes of crude steel, up 6.2 percent year on year; 90.75 million tonnes of steel products (including post-working products), increasing 10.9% compared to the same time last year. Daily crude steel production was 2.1119 million tonnes, down 43,600 tonnes or 2.02% month on month. It decreased for consecutive three months.

China steel exports edged up while imports waned.
As per statistics from the General Administration of Customs, steel exports totaled 35.83 million tonnes in the first seven months of this year, up 4.30 million tonnes or 13.7% year on year; imports amounted to 8.01 million tonnes, down 100,000 tonnes or 1.3% from a year earlier. Steel semis imports were 340,000 tonnes, up 120,000 tonnes or 54.5% compared to the same period last year.

Net exports came to 29.26 million tonnes on crude steel basis, an increase of 4.56 million tonnes or 18.5 percent year on year. Iron ore imports aggregated at 457.23 million tonnes in January to July 2013, up 33.70 million tonnes or 8.0 percent from a year earlier.

In July, steel exports were 5.15 million tonnes, down 140,000 tonnes or 2.65 percent month on month; imports were 1.18 million tonnes, up 100,000 tonnes or 9.26 percent from a month earlier. Steel exports decreased for the third straight month. Steel semis imports kept flat at 50,000 tonnes. Net exports were 4.17 million tonnes on crude steel basis, down 260,000 tonnes or 5.8 percent versus June.

China steel price hovered low and it rebounded slightly on rising demand and decreasing production& inventory. As of the end of July, CSPI composite steel price index was 100.48 points, up 1.96 points or 1.99 percent versus the end of June and decreased 7.60 points or 7.03 percent from a year earlier.

Source - www.steelhome.cn/en
China steel information centre and industry database
voda
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quote:

ttroo schreef op 31 aug 2013 om 21:44:


Voda, Bedankt voor alle info!

Graag gedaan. Bedankt voor het compliment!
voda
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ArcelorMittal Cleveland celebrating 100 years steel making

ArcelorMittal Cleveland is celebrating a century of making iron and steel in Cleveland’s industrial valley this year. After 100 years of steelmaking, our company, our people and our Cleveland roots are still strong, or as we like to say, STEEL strong.

This Labor Day holiday, we are not only celebrating 100 years of steel but also honoring our hardworking employees past and present and the city that we call home.

Tens of thousands of men and women have worked in Cleveland’s steel mills over the past century, supported by families and communities that value the American tradition of manufacturing. The workers who went before us paved a path for us to reinvent, a hundred years later, what it means for Cleveland to be a steel town.

Today, ArcelorMittal Cleveland has a talented and highly-skilled workforce of more than 1,800, most of them members of United Steelworkers Local 979. A testament to our employees and the unique company-union partnership, our Cleveland facility is recognized as one of the most productive integrated steelmaking facilities in the world, producing one ton of steel for slightly more than one worker hour.

We make a product that touches the lives of Clevelanders every day. Steel is a key ingredient in the cars we drive, the buildings where we live and work and the household appliances, machines and packaging materials that make our modern lives easier.

In the 100 years since the Otis and Corrigan-McKinney steel companies built their furnaces on the banks of the Cuyahoga River, Cleveland’s steel industry has undeniably had its ups and downs. Over the decades, dramatic changes in ownership, technology, labor, safety and political and economic conditions have transformed the business of making steel.

With management and union working together, our Cleveland employees are deeply committed to our operating philosophy of creating safe, sustainable steel. Historically, steelmaking was a dangerous process and accidents were inevitable. Today, we believe that we can protect the health and safety of our employees and community, ensure the viability of our business and be responsible stewards of the environment.

Source - www.cleveland.com
Snance
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Waar rook is.. Dit kan goed zijn voor de koers, want velen hadden niks met nog meer schuld op de balans..

Berlin. Thyssen-Krupp hat einen Medienbericht über einen Verkaufsstopp der verlustträchtigen Thyssen-Krupp-Stahlwerke in Übersee dementiert. "Der Verkaufsprozess geht unverändert weiter", sagte ein Unternehmenssprecher am Montagabend. Die "Frankfurter Allgemeine Zeitung" hatte zuvor vorab unter Berufung auf das Umfeld des Stahl- und Investitionsgüterkonzerns berichtet, dass der Vorstand die geplante Veräußerung der beiden Stahlwerke in Brasilien und den USA abbrechen werde.
voda
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Chinese steel sector PMI rises to 53.4% in August

The National Bureau of Statistics announced that China's official purchasing managers' index rose to 51.0 in August from 50.3 in July, the highest level since last April, boosting confidence that a revival of internal demand will be sustained in coming months.

PMI for the non manufacturing sector dipped slightly to 53.9 in August from July's 54.1,

PMI of China's steel sector increased to 53.4, up 0.9 MoM

Beijing has stepped up efforts to stem a sharp economic slowdown in the world's second-biggest economy, quickening railway investment and public housing construction in a move that will drive steel demand.

Source – Strategic Research Institute
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ThyssenKrupp confirms that sale process is on American assets

Reuters reported that Germany's ThyssenKrupp has denied a media report that it planned to scrap the sale of its Steel Americas business, the loss-making unit it has tried for more than a year to offload.

A spokesman for the steel maker said late on Monday “The sales process is continuing.”

German paper Frankfurter Allgemeine Zeitung in an excerpt of an article to be published on Tuesday cited sources close to the company as saying ThyssenKrupp was set to stop the sales process for Steel Americas, comprising a steel mill in Brazil and a plant in Alabama, to launch a quick capital increase.

Source – Reuters
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US Weekly raw steel production update

In the week ending August 24, 2013, domestic raw steel production was 1,861,000 net tons while the capability utilization rate was 77.7%. Production was 1,897,000 net tons in the week ending August 24, 2012, while the capability utilization then was 76.3%.

The current week production represents a 1.9% decrease from the same period in the previous year. Production for the week ending August 24, 2013 is down 0.9% from the previous week ending August 17th 2013 when production was 1,878,000 net tonnes and the rate of capability utilization was 78.4%.

Adjusted year to date production through August 24th 2013 was 62,853,000 net tonnes, at a capability utilization rate of 77.1%. That is a 4.4 percent decrease from the 65,742,000 net tonnes during the same period last year, when the capability utilization rate was 77.8%.

Broken down by districts, here's production for the week ending August 24, 2013 in thousands of net tons:
North East – 213
Great Lakes – 604
Midwest – 244
Southern – 707
Western - 93 for a total of 1,861.

Source – Strategic Research Institute
voda
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Tiny Uruguay could become world eighth largest iron ore producer

Mining reported that a controversial law passed in early August to regulate large scale mining in Uruguay, could open up the country’s 2,500 million tonnes of underground iron ore deposits to foreign exploitation which has triggered increasing opposition from locals that threatens the development of this nation’s mining industry.

According to London based Zamin Ferrous, through its subsidiary Minera Aratirí, Uruguay holds vast deposits of iron ore estimated in 2,500 million tons. If mined, they could put the South American country in the eighth position of the world’s largest iron producers list.

Mr Jose Mujica president of Uruguay said that the country needs to make use of the potential wealth that lies in its iron deposits and promised opposition any mining venture would be subject of strict controls to protect the environment.

The new law states that large scale mining should serve the public interest but critics claim it was passed to serve the interests of Zamin Ferrous and Aratirí and its USD 3 billion Valentines project which is expected to produce 18 million tons of iron ore a year.

Analysts such as Mr Víctor Bacchetta from the Movement for a Sustainable Uruguay (Movus), think that even if new rules are to benefit Uruguay, the country of only 68,000 square meters doesn’t have what it takes to become a mega mining nation.

Mr Bacchetta said that “Uruguay is poor in mineral resources. It does not have the huge reserves of countries like Chile or Peru. Aratirí is proposing 12 years of extraction activities according to what can be gathered from its Environmental and Social Impact Assessment and after that it will all be over.”

He said that “This makes the project even more absurd for Uruguay, because it is a country with a privileged ecosystem in terms of its fertile land and water resources, which are not found in the (Andes) mountains, where nothing else can be done.”

Source – Mining.com
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L.s.,

is dit advies serieus te nemen?

Essen - Op 03-09-2013 herhalen de analisten van National Bank AG hun koopadvies voor het staalconcern ArcelorMittal (ISIN: LU0323134006 / Mnemo: MT). Het 12-maands koersdoel wordt opwaarts bijgesteld van € 15,00 naar € 26,00.

In 2012 bedroeg de koerswinstverhouding (berekend met de ultimo slotkoers van het aandeel in 2012) -6,05.
De forward PE (de slotkoers van 07-05-2013 gedeeld door de winst per aandeel over 2012) bedraagt -4,33.
Over 2012 rapporteerde het bedrijf een omzet van € 84.21 miljard

Bron: www.analist.nl/laatste/4/AEX

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voda
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US weekly raw steel production update

In the week ending August 31st 2013, domestic raw steel production was 1,856,000 net tons while the capability utilization rate was 77.5%. Production was 1,897,000 net tons in the week ending August 31, 2012, while the capability utilization then was 76.3%. The current week production represents a 2.2% decrease from the same period in the previous year.

Production for the week ending August 31, 2013 is down 0.3% from the previous week ending August 24, 2013 when production was 1,861,000 net tons and the rate of capability utilization was 77.7%

Adjusted year to date production through August 31, 2013 was 64,709,000 net tons, at a capability utilization rate of 77.2%. That is a 4.3% decrease from the 67,639,000 net tons during the same period last year, when the capability utilization rate was 77.8%.

Broken down by districts, here's production for the week ending August 31, 2013 in thousands of net tons:

North East: 199
Great Lakes: 628
Midwest: 234
Southern: 705
Western: 90, for a total of 1,856.

Source – Strategic Research Institute
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AK Steel closes USD 380 million exchange offer

Zacks Equity Research reported that AK Steel Corporation, a subsidiary of AK Steel Holding Corporation has completed exchange offering of up to USD 380 million in aggregate principal amount of its 8.75% senior secured notes due 2018 for an equal aggregate principal amount of its registered 8.75% senior secured notes due 2018 (the New Notes).

The initial notes were not registered under the Securities Act of 1933, as amended. The exchange offer of the initial notes expired on Aug 28, 2013.

All of the initial notes were submitted for exchange offering. AK Steel accepted the notes validly tendered for exchange and not withdrawn following the exchange offer

The new notes that are to be exchanged for the initial notes hold substantially similar terms as that of the initial notes apart from the clauses that new notes are registered under the Securities Act of 1933, as amended, have no transfer restrictions under the federal securities laws, no registration rights and no rights to additional interest.

Source - Zacks Equity Research

voda
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Rio Tinto cuts production forecast for iron ore over next 5 years

Mining giant Rio Tinto revised its production forecast for iron ore over the next five years amid lower volume of orders for the key steel making ingredient from China.

One possible implication of this policy is that Rio may possibly not open new mines ir expand after current projects are finished even if demand for iron ore remains healthy or steady.

Mr David Joyce chief of Rio Iron Ore Development said that “With this development, the lower end of the projected annual exports for iron ore could go down to 300 million tonnes in 2018 from the previous forecast of 360 million in May provided by Mr Sam Walsh CEO of Rio Tinto.”

However, the upper end remains at 375 million tonnes. Despite the adjusted forecast for the lower end of annual production for iron ore, Rio had approved the expansion of its Pilbara iron ore railways and ports on the assumption of handling 360 million tonnes annually, but its approved mine expansion is up to 290 million tonnes only.

Rio estimated that the revenue cost of not pursuing extra mine expansions would be AUD 7 billion a year based on 30% lower iron ore price of AUD 100 per tonne. The lower forecast were due to the projected lower commodity prices and Rio changing its focus from growth to cost cutting and capital management.

Mr Andrew Harding CEO of Rio Iron Ore said that “The giant miner would continue to pursue further productivity improvements from its fully integrated Pilbara system to maximize return on investment.”

Source - Ibtimes.com
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