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.
20.175 Posts, Pagina: « 1 2 3 4 5 6 ... 971 972 973 974 975 976 977 978 979 980 981 ... 1005 1006 1007 1008 1009 » | Laatste
Aantal posts per pagina:  20 50 100 | Omlaag ↓
voda
0
Thyssenkrupp supervisory board to review breakup plan viability - Report

Reuters, citing two people familiar with the matter, reported that Thyssenkrupp’s supervisory board plans to stress test the viability of CEO Mr Guido Kerkhoff’s plans to break up the conglomerate given changed market conditions. Thhe sources said “Although the supervisory backed Kerkhoff’s plan when he announced it last year, the board headed by Martina Merz has quietly begun questioning the benefits. The board might call Kerkhoff for a meeting in May to explain his plans.”

Merz, who became head of the supervisory board in February, has indicated that she would not unquestioningly back management plans. Merz said in February in an internal interview for employees “The supervisory board needs to adhere to its duties, to appoint and control the management board, and to act as an advisor.”

Mr Kerkhoff in September laid out plans to separate the company’s elevators, car parts and plant engineering units from its materials trading and shipbuilding businesses. But a global trade war and fears of an uncontrolled exit by Britain from the European Union have spooked markets, making it harder for companies to spin off or list large divisions.

Source : Reuters
voda
0
Malaysian Leader Steel buys land to expand operations in Sarawak

Bernama reported that Leader Steel Holdings Bhd has bought a piece of vacant 3.79-hectare industrial land in Kuching, Sarawak, for RM9.8 million to expand its plant and office as well as consolidate all operations in East Malaysia at one location. The steel product manufacturer said the land at Sejingkat Industrial Park was adjacent to its existing branch in Kuching. Leader Steel said in a filing with Bursa Malaysia that the landowner, Sumbumi Sdn Bhd, would be paid through internally generated funds and bank borrowings.

The company said its board of directors believed the purchase would contribute positively to the business operations and future earnings.

Leader Steel manufactures, processes and trades steel and metal products, and trades and processes minerals.

Source : BERNAMA
voda
0
Oriental Group proceeds with delisting from Catalist board

Business Times reported that steel trader Oriental Group will proceed to delist from the Catalist board, as the Singapore Exchange Securities Trading has said it has no objection to the proposed delisting. This follows an order by the Singapore High Court on Apr 10 for the group to be wound up. Muk Siew Peng and Cameron Lindsay Duncan of KordaMentha were appointed the joint and several liquidators.

In its announcement on Tuesday, Oriental Group added that the amount of realisable assets of the company is negligible and only sufficient to support the company during the liquidation period. Its subsidiaries were insolvent before the group was placed under judicial management in 2017, after an application was made by a creditor to the High Court.

The group said that "As a result, any distribution to shareholders is remote. It will not hold a general meeting to seek shareholders' approval for the proposed delisting.”

Source : Business Times
voda
0
Lenders fail to sell Essar Steel loans due to delays - Report

DNA, citing some bankers, reported that the inordinate delay in the bankruptcy courts is making it difficult for banks to sell loans extended to Essar Steel and most of the 17 banks in the consortium are willing to sell off their exposure, but the bidders who once saw some prospects are shying away from buying it. Bankers say the delays are causing uncertainty over the recovery of money. DNA quoted banker as saying that "The vendors and the oil companies, which are contesting their claims, have been getting regular payment from the company, which is a going concern, but the bankers' money is stuck without any interest. We were close to concluding the deal with a bidder, but then the issue of payment to the operational creditors cropped up and the bidder walked away.”

Banker said "It is over 600 days since the case was first referred to NCLT. The company featured in the first list of stressed loans that RBI had mandated banks to find a resolution or change the management.”

Last month two banks, Bank of India and Central Bank of India had put their exposures of Rs 1,978 crore and Rs 423 crore, respectively, on sale, but were not able to conclude a deal. Even State Bank of India, the lead lender, had put its INR 15,400 crore of loans on sale in January 2019 despite being the leader of the consortium, but subsequently the bank withdrew the sale.

The resolution process, which started from NCLT Ahmedabad and was heard in the Supreme Court twice, is now with the National Company Law Appellate Tribunal. The tribunal is still deciding the distribution of the funds. On April 23, NCLAT requested the banks to offer a better deal to the operational creditors.

Source : DNA
voda
0
Iranian Steel mills see 25% export decline in one year

Financial Tribune reported that Iran's major steel producers exported 5.54 million metric tonnes of steel in the last Iranian year (to March 20). As per mines and metals state holding company Imidro. This marked a 25% decrease compared to the previous year. The data exclude exports by smaller private-sector producers. With some 2.18 million tonne of billet and slab exported in the last Iranian year. Khouzestan Steel Co Iran's second largest producer, was the largest exporter and saw its exports decline 21% year on year.

Some 690.000 tonne of flats were exported by Mobarakeh Steel Co the largest Iranian steel producer, a 32% decrease MSC is subject to EU anti-dumping measures and does not export to these countries.

About 582.000 million tonne of slab were exported in this period by Hosco, MSC's affiliated company, a 47% decrease on year. Hosco is a 1.5 million EAF-based slab producer close to the Persian Gulf that is considered one of Iran's most advanced steel plants.

Source : Financial Tribune
voda
0
BaoSteel net profit in Q1 dips by 46% YoY on high iron ore price and weak auto steel demand in China

Baoshan Iron and Steel Co Ltd has posted 45.7% YoY drop in net profit in January-March 2019 quarter at CNY 2.73 billion (USD 406 million), its first negative growth since 2015, as higher raw material prices and weak auto demand crimped profitability. Revenue in Q1 fell by 3.1% YoY to CNY 65.38 billion. Baosteel said “There was a booming demand for long products while a weak demand for flat products from the automotive industry. Meanwhile iron ore prices hiked 15.5% from the prior quarter, which narrowed profit margins.”

In the first three months of the year, Baosteel produced 11.22 million tonnes of iron and 11.84 million tonnes of steel.

It expects fundamentals in steel markets to improve in the second quarter as Beijing and Washington get closer to a trade deal, meanwhile China’s stimulus policy will offer support on demand side.

Source : Strategic Research Institute
voda
0
Montenegro issues environmental permit to steel mill Toscelik Niksic

SeeNews reported that Montenegro's environment protection agency said that it has issued an approval for the operation of steel mill Toscelik Niksic. The agency said “The approval, which will be valid for the period 2019-2024, was issued after Toscelik Niksic adopted a set of measures to make the operation of the facility more environment-friendly. The measures include the introduction of an environmental management system in accordance with the international standard ISO 14001, the replacement of the existing coal-fired boiler by a boiler running on on natural gas and the construction of a wastewater treatment plant.”

Toscelik Niksic applied for the envoronmental clearance in December 2018.

According to Montenegrin media reports, the previous approval by the environment protection agency expired on January 1, 2018.

The Montenegrin government sold the Zeljezara Niksic steel mill, now Toscelik Niksic, to Turkey's Tosyeli Holding for EUR 15 million in 2012.

Source : SeeNews
voda
0
Unirol negotiating rebar orders at Bahrain expo

Trade Arabia reported that Bahrain based rebar maker Universal Rolling, which is leading the Metal and Steel sector at the Gulf Construction Expo, currently under way in Bahrain, is hoping to win new orders at the fair. A company official said that the company is currently in negotiations with prospective companies for new projects.

The Unirol spokesperson said the volume of sales have gone up following the up gradation of its production facility and the company is studying the possibility of exporting its products.

Established as a leading supplier of construction steel in Bahrain and the GCC, Unirol is showcasing its range of products which are being produced at its newly upgraded and fully automated production facility in Hidd Industrial Area. All its products are manufactured to the exacting quality assurance set by UK Cares.

Unirol is one of the first producers of high-quality reinforcement bars of its kind in Bahrain. The newly-modernised plant has the capacity to produce 200,000 tonnes of rebars of 8mm to 32mm diameter a year. All the Unirol products are guaranteed as per BS 4449-1997 grade 500 and ASTM A615 grade 6.

Source : Trade Arabia
voda
0
Posco warns of rising costs & slowing steel demand

South Korean steel giant POSCO, world’s fifth-biggest steelmaker, said that its operating profit in January-March quarter fell by 19% YoY to KRW 1.2 trillion (USD 1.05 billion) amid higher costs for raw materials even thouh revenue inched up by 1% to KRW 16 trillion and net profit fell 28%t to KRW 778 billion. POSCO said that iron ore prices rose more than 20% in the quarter following Vale's deadly dam collapse in Brazil in late January.

POSCO said it expects higher costs for materials and slowing demand for steel to crimp profitability this year, even as steel prices are expected to inch up.

Source : Strategic Research Institute
voda
0
CBI issues LOC’s against Bhushan Power & Steel chairman & wife - Report

PTI, citin sources, reported that India’s CBI has issued Look Out Circulars against chairman of Bhushan Power and Steel Ltd Mr Sanjay Singhal and his wife Ms Aarti, who is vice chairman of the company, in connection with cheating in loans worth over INR 2,348 crore, to prevent any attempt by the accused to leave the country without permission from the authorities.

A look out circular is a letter used by authorities to keep a tab on an individual. The Immigration authorities at all airports and entry-exit points across the country will have to inform the CBI if Singhal and his wife attempt to leave the country.

CBI had alleed that the company deliberately defaulted on repayment and also claimed inadmissible credit causing a loss approximately of over INR 2,348 crore to the banks. The agency had on April 6 carried out searches at 18 locations connected to the company after registering a case of cheating amounting to INR 2,348 crore against Singhal and others. The searches were carried out in a number of cities, including the Delhi-NCR, Chandigarh, Kolkata, Odisha, at the office and residential premises of the company, its directors and promoters and their associates in the bank fraud case. The CBI has also already booked Mr Sanjay Singhal, Ms Aarti Singhal, directors Mr Ravi Prakash Goyal, Mr Ram Naresh Yadav, Mr Hardev Chand Verma, Mr Ravinder Kumar Gupta and Mr Ritesh Kapoor besides unidentified public servants.

Source : PTI
voda
0
TMK announces operational results for Q1 of 2019
Steel News - Published on Thu, 25 Apr 2019
Image Source: TMK
TMK, one of the world’s leading producers of tubular products for the oil and gas industry, announced its operational results for the first quarter of 2019. Mr Alexander Shiryaev, CEO of TMK, said “In 1Q 2019, we a saw a decline in total pipe shipments, primarily due to a temporary slowdown in the North American market, which reflected a lower oil price and a decrease in rig count. However, we increased our shipments of premium-threaded connections by a further 5% year-on-year, reflecting TMK’s increasing focus on advanced customer solutions. We believe that our ongoing commitment to innovation will ensure we continue to sustain our leading position in the key markets as we develop high-tech value-added products to meet increasingly complex customer requirements.”

Total pipe shipments declined by 2% YoY, to 966 thousand tonnes, due to lower shipments of both seamless and welded pipe (down 1% and 3% YoY, respectively). This resulted mainly from a decrease in shipments at the American division (down 14% YoY) due to a temporary slowdown in the North American market in 1Q 2019, reflecting a lower oil price and a decrease in rig count. OCTG shipments increased by 4% YoY, to 481 thousand tonnes, due to higher seamless OCTG shipments at the Russian division (up 10% YoY), supported by the continued increase in drilling activity in Russia. Shipments of premium threaded connections increased by 5% YoY, to 236 thousand joints.

Total pipe shipments declined by 4% QoQ, due to lower seamless pipe shipments (down 9% QoQ), resulting mainly from a decrease in shipments of OCTG and line pipe at the American division and lower seamless OCTG shipments at the Russian division. Lower quarter-on-quarter shipments of OCTG and line pipe at the American division resulted from a temporary slowdown in the North American market due to a lower oil price and a decrease in rig count. Furthermore, in 1Q 2019, domestic pipe producers were affected by higher import pipe supplies as a result of the renewal of pipe shipment quotas under Section 232. This created a market dip similar to the one in 1Q 2018. Seamless OCTG shipments at the Russian division were down 2% QoQ, as domestic oil and gas companies intensified their pipe purchases in 4Q 2018. Shipments of welded pipe increased by 11% QoQ, mainly due to higher shipment volumes of large diameter pipe at the Russian division (up 24% QoQ). Shipments of premium-threaded connections decreased by 20% Qoq, mainly due to lower shipments at the American division resulting from a temporary slowdown in the North American market.

2019 Outlook

In Russia, TMK expects pipe consumption by domestic oil and gas companies to remain strong in 2019. The increased complexity of hydrocarbon production projects in Russia is expected to result in higher demand for high tech products.

In 1Q 2019, the North American OCTG market experienced a temporary slowdown due to a decrease in the oil price and a falling rig count. The market saw higher import pipe supplies driven by the renewal of pipe shipment quotas under Section 232.

In Europe, it is expected that TMK sustains demand for seamless industrial pipe in 2019. The division’s sales mix is estimated to include a higher share of high value-added products.

In 2019, TMK expects to increase pipe shipments at the Russian and European divisions year-on-year, providing the basis for a strong financial performance throughout 2019.

Source : Strategic Research Institute
voda
0
Former Afrepi steelworks owner Mr Rebrab arrested in Algeria

Algeria's richest man Mr Issad Rebrab, CEO of Cevital, former owner of Piombino steelworks Afrepi, has been detained in jail on the public prosecutor's orders, a day after his arrest as part of a corruption probe. Mr Rebrab, 74 year old, was placed in detention. He is suspected of having made fake statements concerning the transfer of funds to and from abroad. He is also suspected of having imported used equipment despite enjoying tax and customs breaks made available by authorities for the purchase of new material.

The crackdown on alleged graft follows the resignation of veteran president Abdelaziz Bouteflika in early April after weeks of mass protests against his 20-year rule.

Cevital, which he founded, employs 12,000 people and is active in electronics, steel and food, and in recent years acquired businesses in France. Forbes magazine lists Mr Rebrab as Algeria's richest man and the sixth-wealthiest in Africa, with a net worth of USD 3.38 billion in 2019.

Source : ANSA Amed
voda
0
Customers are Partners in Success of RINL - Mr PK Rath, CMD

Buoyed by an impressive performance during the last fiscal, RINL, the corporate entity of Visakhapatnam Steel Plant organized an “All India Customers’ Meet” to further strengthen the bond with them at Ukkunagaram. A large number of customers & consignment agents across the country participated. Mr PK Rath, CMD RINL, visualized great demand for steel as the GOI launched several infra, construction, road and rail projects aimed at enhancing the consumption of steel in the country. He mentioned that RINL is attaching high importance to the customers whom he termed as “Partners in success of RINL.”

Mr Rath observed that “RINL has succeeded in focusing on quality and right product mix suit to the delight of the customers and made stronger presence in the market. RINL has taken several customer-friendly policies aimed at improving the relations between them and impetus is being given to value added steel production during the current year. RINL is targeting to achieve a highest sales turn over of INR 25,000 crores and a saleable steel production of 5.8 million tonnes during FY 2019-20.”

He expressed confidence that this target would be achievable with the active support of RINL customers. He also exhorted the customers to come out with candid feedback and suggestions to further improve the product mix.

Mr P Raychaudhury, Director Commercial RINL, said “Customers played a vital role in achieving an highest sales turn over of INR 20,844 crores during FY 2018-19 by RINL. He said that RINL is the only Company framing its marketing policy based on customer suggestions and also to meet their requirements. It reflects the commitment of RINL in taking them into confidence in its journey towards success. RINL is continuously in touch with the customers to strengthen the bond with them to propagate the brand image of RINL. Focus would be given to set up a special agency to sort out the issues, maximum usage of stockyards, and improvisation of handling facility and safety of the workers in the stockyards etc during the current year. RINL is focusing on coastal shipping to further scale up the dispatches to various destinations.”

Source : Strategic Research Institute
voda
0
Surya Roshni bags API 3LPE Coated 5L Grade Pipes order from IOC

Surya Roshni Ltd has obtained order aggregating to INR 231.18 crore (GST Extra) for supply of API 3LPE Coated 5L Grade Pipes to Indian Oil Corporation Limited through competitive ebidding.

The order is for Sarath in Jharkhand, Berhampur, Balasore, Paradip in Odisha, Achutapuram in AP, Hyderabad in Telangana, Haldia, Bolpur in West Bengal and Barauni in Bihar.

Source : Strategic Research Institute
voda
0
Zimbabwe’s Lancashire Steel deal with Whinstone Enterprises collapses

Chronicle reported that a deal in which Indian firm Whinstone Enterprises was set to pour in funding into Lancashire Steel in a joint venture arrangement has crumbled after the firm failed to follow laid down Government procedure. The two parties signed an agreement in July last year, with the Indian investor expected to satisfy the much-needed financial obligation, while Lancashire Steel offered labour, skills and equipment. But soon after Cabinet had approved the deal, the Indians stood accused of taking shortcuts and disregarding the laid down channel of doing things leading in Government suspending the deal. Industry and Commerce Minister Mangaliso Ndlovu confirmed that indeed the pact had collapsed unless if the company decides to do things the proper way. Minister Ndlovu said that “The Government’s position is that the contract is not legal unless and until the company follows the proper way of doing things. They have to do things properly and until they do so there is no deal as of now.”

Although he could not be drawn into discussing the finer details of what went wrong, the minister said the company risks losing the deal totally if they do not put their house in order.

He said Government awaits the company to follow the proper procedure before the deal reaches implementation stage.

Minister Ndlovu said that “There is no agreement yet so if they are still keen on the deal, Government waits upon them to do things the correct way. Otherwise Government is open for any other suitor depending on the offer. But the doors are still open for the company to follow the procedure.” He, however, assured the nation and Kwekwe residents in particular, not to worry about the collapse of the pact saying Government was more committed to revive industries in the city more than ever before.

The minister said that “I can assure you that companies, Lancashire in this case, will be back on its feet very soon. Government is more committed than ever before. Recently we facilitated the opening of ZimCoke, which will employ more than 1 000 workers. We are more committed than ever before. Kwekwe is an industrial hub and people there should not lose sleep because as Government we have Kwekwe at heart.”

Source : Chronicle
voda
0
New York Mayor to proposes bill banning glass and steel buildings

OANN reported that New York City Mayor Bill de Blasio is set to introduce a new bill banning glass and steel skyscrapers, which is a move influenced by the Geen New Deal. While speaking to the public, Mr De Blasio claimed glass structures are inefficient and use too much energy. He then went on to say the buildings are the number one cause of greenhouse emissions in the city, not cars or other forms of transportation. Mr De Blasio further said that “We’ll put strong new rules in place. I think what’s going to mean is a lot of building owners are not going to build those kind of buildings, or if they choose to they’re going to have to do a lot to compensate with other energy saving measures.”

Under the new rules, the city will not grant permits to anyone looking to construct these types of buildings. Construction companies or landlords who do not adhere to these rules will be faced with up to one million dollars in fines.

Source : OANN
Bijlage:
voda
0
Tenaris recognized as 2018 Steel Sustainability Champion for 2nd year

The worldsteel association has recognized Tenaris as a 2018 Steel Sustainability Champion for a second consecutive year. Tenaris was among six companies chosen for the distinction for demonstrating its commitment to sustainable development. Winners were announced during worldsteel’s board meeting in Madrid, Spain, on April 16, 2019. According to worldsteel, the recognition program, now in its second year, encourages companies to increase their sustainable efforts, set higher standards and make further progress across their businesses. The recognition is built around member commitment, set of measurable requirements and actions, as well as the publishing of a sustainability-related report.

In Tenaris’s newly published 2018 Sustainability Report, Chairman & CEO Paolo Rocca affirmed the company’s focus. He said “Sustainability principles are deeply embedded in our values and management processes, as we position Tenaris to grow and prosper over the long-term.”

The report details Tenaris’s integrated efforts to operate sustainably guided by its core values of safety, health, environment, quality and transparency.

Source : Strategic Research Institute
voda
0
Pakistan steel industry seeks relief to prevent many units from closing down

The News reported that Pakistan’s steel industry has asked the government to remove regulatory and custom duty on steel scrap and continuation of special procedures for collection of sales tax from this sector in the upcoming budget 2019-20. According to letter written by steel industry to Adviser to PM on Commerce Mr Abdul Razzak Dawood “Key intervention required from the government to prevent collapse in steel industry in months ahead as the economy was slowing down so special incentives required to jump start the sluggish economic activities.”

This letter is an appeal to take key policy measures to give the steel industry some relief to prevent many units from closing down. These key measures included removal of regulatory and customs duties on our primary raw material, steel scrap, imported under PCT

The letter further stated that Pakistan’s long steel industry has nosedived over the past 6 months due to a rise in cost of doing business coupled with a sudden deceleration of demand. The PKR devaluation, rise in energy prices and interest rate hikes have put margins under great pressure for the industry.

Deterioration in demand is due to slow-down of infrastructure projects, cuts in development spending, delay in PM’s 5 million housing project, smuggling from Iran border and general slowdown of housing projects across the country. These factors have left the industry in dire straits with many units declaring bankruptcy and others cutting down utilisation drastically.

Source : The News
voda
0
Philippine DTI monitoring substandard steel products

Bworld Online reported that Philippine Department of Trade and Industry is actively monitors the market for substandard cement and steel products to enforce the product norms set by its Bureau of Philippine Standards. Trade Secretary Mr Ramon M Lopez said that only quality goods are being sold to the public due to monitoring conducted by its Fair Trade Enforcement Bureau in various establishments. He said that “Finding no non-conforming products in the establishments that we monitor means that quality goods are being sold to the public. DTI’s heightened presence in the market sends a strong message to both consumers and business that we are serious in our campaign against uncertified and substandard materials.”

The DTI is addressing, among others, concerns about shoddy construction materials in the wake of the earthquake that hit Luzon on Monday and Samar Island.

In the year to date, the FTEB has confiscated PHP 7 million worth of steel products including 35,112 pieces of steel bars, equal-leg angle bars, uPVC pipes, G.I. wires, and electrical cords.

Source : Bworld Online
voda
0
NLMK update on Russia flat products in Q1

Sales of the Segment reduced by 4% QoQ driven by lower pig iron sales and demand for slabs among the Group’s international companies. Year on year, the sales grew by 2% supported by the sales of inventory accumulated in ports in December 2018 and a higher demand for finished steel.

Revenue of the Segment decreased by 8% QoQ to USD 2 billionn due to a 4% QoQ decline in average sales prices and lower sales volumes. The 9% yoy decrease in the Segment's revenue was also associated with lower prices for steel products, which was partially offset by a 2% increase in sales volumes.

EBITDA reduced by 25% QoQ (-19% YoY) to USD 424 million, due to narrowing price to primary raw materials spreads and sales of accumulated inventories with a higher cash cost.

Source : Strategic Research Institute
20.175 Posts, Pagina: « 1 2 3 4 5 6 ... 971 972 973 974 975 976 977 978 979 980 981 ... 1005 1006 1007 1008 1009 » | 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 15,038   Verschil +0,09 (+0,60%)
Laag 14,570   Volume 2.475.129
Hoog 15,214   Gem. Volume 6.533.075
25-jun-19 15:21
label premium

ArcelorMittal: Kooptriggers

Het laatste advies leest u als IEX Premium-lid

Inloggen Ontdek Premium