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20.562 Posts, Pagina: « 1 2 3 4 5 6 ... 976 977 978 979 980 981 982 983 984 985 986 ... 1025 1026 1027 1028 1029 » | Laatste
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High price, poor quality leave 2.2 million tonne iron ore unsold in Karnataka - KISMA

TOI reported that high pricing and poor quality resulted in nearly 9% of the iron ore mined in 2018-19 lying unsold in Karnataka. According to information shared by the Karnataka Iron and Steel Manufacturers Association (KISMA), 28.5 million tonnes of iron ore were produced in Karnataka in 2018-19, of which only 26.3 million tonnes were sold. The reasons for 2.2 million tonnes remaining unsold are “high pricing and poor quality" of iron ore.

KISMA said in a statement that “Private mining companies exploited the iron ore shortfall in Karnataka by increasing prices.”

In the previous financial year - ending March 31, 2018 - Karnataka produced 27.7 million tonnes of iron ore and sold 27.9 million tonnes, including some inventory from the previous year.

KISMA said that “The quantity of unsold ore is due to unreasonable prices being demanded to make quick money at the cost of the domestic steel industry.”

Source : timesofindia.indiatimes.com
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Truck overturns at ArcelorMittal Minorca mine in Virginia - Report

Business North reported that a haul truck preparing to unload iron ore onto a stock pile slid down an embankment and overturned Monday morning at the ArcelorMittal Minorca mine in Virginia. The truck driver was transported to a local hospital as a precautionary measure and has been released, said company spokeswoman Ms Mary Beth Holdford.

ArcelorMittal said that the overturned truck resulted in the release of approximately 100 gallons of diesel fuel. The spill was contained, and an external clean-up crew was dispatched immediately. The clean-up process was successfully completed.

An investigation is underway by the company, United Steelworkers and outside agencies, and no additional information was available.

ArcelorMittal said it is committed to environmental compliance and the health and safety of every employee and contractor. The company intends to investigate the incident to determine the cause and prevent reoccurrence.

Source : businessnorth.com
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Shakambhari Group acquires SPS Ispat

Business Line reported that after receiving approval from the Kolkata bench of National Company Law Tribunal, Shakambhari Ispat and Power Ltd has completed the process of acquisition and taken over control of SPS Steels Rolling Mills. Mr DK Agarwal, CMD of Shakambhari Group of Industries said that the company has paid INR 270 crore to the financial and operational creditors as per the approved resolution plan. He said “We have infused skilled managers and the much needed working capital post acquisition and the plant has already achieved 100% capacity utilization. We are working on enhancing the plant capacity to 300,000 tonnes per annum in the next two-to-three years.”

NCLT gave its final nod for takeover on April 8 and the process was completed within three days, by April 11.

SPS Steels has an integrated steel plant with facilities to manufacture TMT bars and has an installed capacity of close to 180,000 tonnes per annum. However, the capacity was underutilized at around 35% before the takeover.

Source : Business Line
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Ghana to establish steel factory at Dawhenya

Journaldu Cameroun reported that government of Ghana is to establish USD 80 million steel factory at Dawhenya in collaboration with B5 Plus under its falgship program. The factory to be hosted at Dawhenya in the Ningo Prampram District of the Greater Accra Region, when operational, is expected to save the country an average amount of USD 100 million used to import iron and steel. The Chief Executive Officer of the company, Mr Mike Thakwani, made this known during a facility tour by the Ghana National Chamber of Commerce and Industry at Tema. The Daily Graphic reports that the CEO revealed that the first phase of the project had been completed and that it would become operational in May.

Ghana’s construction industry relies heavily on steel and iron sheets for various development projects, therefore the citing of an iron and steel factory will go a long way to ease the burden on the country in terms of imports of such products.

Source : Journaldu Cameroun
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Air Liquide Engineering sign a new supply contract in China

Air Liquide Engineering & Construction has signed a new supply contract with Baosteel Zhanjiang Iron & Steel Co Ltd, a subsidiary of Baosteel Group, a large-scale enterprise designed to meet demand for iron and steel in the South China and Southeast Asia markets. Under the terms of agreement, Air Liquide Engineering & Construction will design and build a new air separation unit. The ASU with a capacity of 2,500 tonnes per day of oxygen will supply oxygen, nitrogen and argon to Zhanjiang Steel for a landmark project in China’s iron and steel industry transformation. The unit, which will be located in Zhanjiang, Guangdong province, will come into operation in 2021. This new ASU will be designed and built using Air Liquide’s expertise and best-in-class technologies which enable a maximized energy efficiency and reduced environmental footprint, contributing to the goal of Baosteel for building the most advanced, efficient and competitive steel mill in the world.

Air Liquide Engineering & Construction has a longstanding partnership with Baosteel, the largest steel producer in China. Since 2005, E&C China has delivered four ASUs to Baosteel and has supported the relocation of these four units between 2014 and 2017.

Source : Strategic Research Institute
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Ezz Steel & Suez Steel to raise rebar prices as domestic rolling mills hit by import duty on billet

Amwalalghad reported that Egypt’s largest steel producers Ezz Steel and Suez Steel will increase steel rebar prices between EGP 180 and EGP 250 (USD 10.50-USD 14.58). Mr Tarek AlGioshy, chairman of Al Gioshy Steel, said “The next few days will witness a new increase in iron prices, because most of rolling mills halted their production. The rolling mills were affected by a decree No 346 issued by Egyptian Industry and Trade Minister Amr Nassar to impose temporary import duties of 15% on steel billets.”

Mr AlGioshy demanded Mr Nassar to halt the decree imposing temporary import duties on iron billets.

Source : Amwalalghad
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Bahrain Steel inks 20 year iron ore supply pact with Anglo American

Bahrain Steel BSC announced that it has signed a 20 year agreement with Anglo American Marketing Limited for the supply of pellet feed for its pelletising plants located in Hidd in the Kingdom of Bahrain. The contract, which is valued at approximately USD 15 billion over its duration and will reach a total of 8 million wet tonnes a year, provides Bahrain Steel with approximately 60% of its expected needs for pellet feed at its annual rated capacity of 12 million tonnes of finished pellets. The agreement provides for iron ore grade to be supplied at a minimum 67% Fe and 2% or less total gangue. Deliveries under the contract have already started, sourced exclusively from Anglo American’s Minas-Rio mine in Brazil.

Bahrain Steel is the world’s largest merchant pelletiser. Currently, Bahrain Steel sources iron ore from Brazil, Chile, Sweden and Canada. Bahrain Steel is owned 100% by Foulath Holding Co, which in turn is owned 50% by Gulf Investment Corporation GSC, Kuwait; 25% by Qatar Steel Company QSC, Qatar; 10% by Gulf Cables & Electrical Industries Company KSC, Kuwait; 10% by National Industries Group Holding SAK, Kuwait and 5% by Kuwait Foundry Company SAK, Kuwait.

Source : Strategic Research Institute
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Mr Klingler to lead Steel Processing and Mr Smolenski Pressure Cylinders of Worthington Industries

Worthington Industries Inc announced that Mr Jeff Klingler has been named president of Steel Processing and Mr Eric Smolenski has been named president of Pressure Cylinders.

Mr Klingler, 47, joined Worthington in 1992 at the Company’s Porter, Indiana facility working on the production floor. After two years, he transitioned to inside sales and later became a sales territory manager for eight years and two years as inside sales manager. In 2008, he left Worthington to become vice president of sales, marketing and procurement for Banner Services Corporation. In 2014, he returned to Worthington leading the creation of Steel’s supply chain solutions SBU. In 2016, he was named general manager of Steel’s hot rolled value-add SBU and in 2018 added cold rolled strip to his responsibilities.

Mr Smolenski, 49, was named general manager of the industrial products SBU in Pressure Cylinders in February 2017 and led the oil & gas equipment business for the two years prior. He joined Worthington in 1994 working in numerous capacities including accounting, finance, human resources and information technology. Smolenski served as vice president of human resources from 2006 to 2012 and chief information officer from 2012 to 2014.

Source : Strategic Research Institute
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UK government statement on loan to British Steel to pay EU carbon bill

UK’s Business Secretary Mr Greg Clark, following speculation in various media outlets of a GBP 100 million emergency loan made by the UK Government to allow British Steel to pay EU carbon bill, told the House "I want to be clear with the House that the agreement reached with British Steel is a unique one in exceptional circumstances. My department's assessment, which has been agreed with the Treasury, shows that the deed of forfeiture offers value for money to the taxpayer, with benefits exceeding the costs."

Shadow Business Secretary Rebecca Long-Bailey responded to the statement and said "I know the Secretary shares my belief that steel is one of the jewels in the crown of British manufacturing, and I hope he can assure the House today that this is just the first step in a long list of policies dedicated to supporting the sector going forward."

Source : Strategic Research Institute
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Tata Steel workers lose faith in Thyssenkrupp deal - European Works Council

Reuters reported that European Works Council said that European workers at Tata Steel Europe no longer believe that a JV with Thyssenkrupp is in the best interests of the company. EWC said “We are now unconvinced the joint venture is in the best interests of Tata Steel Europe. We believe that the agreements we reached with Tata are not being honoured. Mr Chandrasekaran told them Tata hopes to gain their support during a consultation period, but they told him that might not be possible due to the seriousness of the workers’ reservations. It will call an emergency meeting on May 10, while British representatives will also seek to meet.”

At a meeting earlier with Tata Chairman Mr Natarajan Chandrasekaran, Works Council chairman Mr Frits van Wieringen confirmed that workers do not support a package of remedies designed to win the support of the European Commission.

The two companies agreed last year to combine their European steel activities, a move that would create the continent’s second-largest steelmaker but still needs approval from the European Commission, which plans to make a decision by June 17.

Workers at Thyssenkrupp, who have long been critical of the deal, last year gave their consent in exchange for far-reaching guarantees, including job and plant protection until 2026.

Source : Reuters
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Aeternus Steel bags ArcelorMittal steel mill in Point Lisas in Trinidad and Tobago

News Day reported that Aeternus Steel Holdings Ltd, a JV between local company Integrus Group and Dubai investors Cassia Group, has won the bid for shuttered ArcelorMittal steel mill in Point Lisas. Liquidator Mr Christopher Kelshall confirmed the name of the winning bidder and said “The process has now moved through to the next stages. The intention is to restart in phases but Aeternus is interested in recommissioning the plant. It will be done over time.”

This is the second bid round for the plant. The first was in September 2017, but after months of waiting for approvals from relevant government authorities, the preferred bidder, Nu-Iron, a subsidiary of American steel giant Nucor, pulled out of the process. The new bid round began in January and ended in March. Losing out was Macarri Steel Holdings Ltd, a consortium made up of local and international investors, including former steelworkers, who had petitioned to be allowed to bid and restart the plant.

The plant was shuttered in March 2016, beginning liquidation proceedings soon after to pay off its reported USD 1.3 billion debt, most of which was owed to its parent, the ArcelorMittal.

Source : News Day
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Japan protests as South Korea court asked to sell Nippon Steel assets over wartime labor

Japan Times reported that Japanese government protested what it sees as inaction by the South Korean government to prevent Japanese corporate assets from being sold as part of a wartime labor dispute. Mr Kenji Kanasugi, director general of the Japanese Foreign Ministry’s Asian and Oceanian Affairs Bureau, called a senior South Korean Embassy official in Tokyo to lodge the protest. Mr Kanasugi said Seoul has yet to take concrete steps to correct the violations of a 1965 bilateral accord that settled wartime compensation issues.

Mr Kanasugi also reiterated Japan’s demand for bilateral talks on the matter.

The protest came after a team of lawyers for South Koreans who were awarded damages from Japanese steelmaker Nippon Steel Corp and machinery manufacturer Nachi-Fujikoshi Corp over wartime labor said earlier in the day they had asked a court to sell assets seized from the firms in South Korea.

Nippon Steel and Nachi-Fujikoshi each have assets in South Korea in the form of stakes in companies. Some of their stakes were seized by South Korean courts in January and March, respectively, after both refused to compensate the plaintiffs after courts ruled against them.

Source : Japan Times
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President Mr Rouhani opens Bisotoun Steel mill in Iran

IRNA reported that Iranian President Mr Hassan Rouhani opened a new steel company with nominal capacity of 250,000 tonnes a year and creating 600 jobs. First phase of the Bisotoun Steel Company, in the west of Iran, was inaugurated on Wednesday by Iranian President Rouhani who is on a visit to the western Kermanshah province. The mill’s first phase, that includes smelting and casting units, has a nameplate capacity of 250,000 tonnes per year.

The Bisotoun Steel Company is set to have a Direct Reduced Iron unit as well as a 15 MW station in the near future.

This steel company that has been constructed with an investment of nearly USD 155 million.

Source : IRNA
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Metalloinvest announces operational results for Q1 2019

Metalloinvest announced its operational results for the first quarter of 2019. Mr Andrey Varichev, CEO of Management Company Metalloinvest, said “In Q1 2019, the Company increased shipments of pellets by 8% and HBI/DRI by 10% YoY. Thus, in line with our strategy to increase the share of high value-added products in the sales structure, the share of pellets and HBI/DRI in the total shipments of iron ore products amounted to 74% compared to 69% in Q1 2018. At the same time, sales of pig iron and steel products remained at the same level as in Q1 2018, despite the ongoing implementation of various projects to modernise steel capacities, including the reconstruction of EAF facilities and hot tests of the Flexible Modular Furnace at Ural Steel.”

Iron Ore & Pellet Production - In Q1 2019, Metalloinvest produced 9.6 million tonnes of iron ore. The decrease in production volume by 7.2% QoQ and 2.9% YoY was due to scheduled maintenance works at LGOK, as well as changes in the quality of iron ore mined at LGOK and MGOK that resulted in increased processing time. The QoQ decline in production volumes was also due to there being fewer calendar days In Q1 2019, pellet production remained almost at the level of Q4 2018 (-0.7% Qoq) and amounted to 6.8 million tonnes. The YoY growth in pellet production was 2.2% as a result of the increase in productivity of Pellet Plant #3 at MGOK HBI/DRI production remained flat at the level of Q1 2018 (2.0 million tonnes) and was 1.2% higher QoQ due to major maintenance works at the HBI-3 Plant at LGOK in Q4 2018

Iron Ore & Pellet Shipment 0- In Q1 2019, the total volume of iron ore product shipments to third parties increased by 1.8% YoY and amounted to 6.2 million tonnes due to a change in the product mix (shipments of pellets increased by 8.1% YoY and HBI/DRI by 10.2% YoY). HVA iron ore products (pellets and HBI/DRI) shipments accounted for 73.6% of the total amount of iron ore product shipments in Q1 2019 (vs. 66.2% in Q4 2018 and 68.9% in Q1 2018). In Q1 2019, the share of iron ore product supplies to the domestic market amounted to 56.9% (compared with 61.0% in Q4 2018 and 70.5% in Q1 2018). The Company increased the volume of export supplies during the reporting period – iron ore product shipments to Europe grew to 25.9% (vs. 21.3% in Q4 2018 and 18.0% in Q1 2018) and supplies to Asia increased to 11.3% (vs. 7.2% in Q4 2018 and 4.2% in Q1 2018)

Pig iron and Steel Production - In Q1 2019, the output of hot metal decreased by 13.9% QoQ and by 5.3% YoY as a result of maintenance works at blast furnaces as well as a decline in internal consumption in line with steel production requirements. Crude steel production decreased in Q1 2019 by 10.5% QoQ and by 4.2% YoY to 1.2 million tonnes. This was largely a result of plant reconstruction and hot tests of FMF (Flexible Modular Furnace) at Ural Steel as well as changes to the product mix at OEMK

Pig iron and Steel Shipments - The share of HVA (high value-added) steel product shipments amounted to 45.6% in Q1 2019 (compared with 39.2% in Q4 2018 and 45.9% in Q1 2018). In Q1 2019, the share of pig iron and steel product shipments to Russia remained flat at the level of Q4 2018 (29.0% and 29.7% respectively). In Q1 2019, deliveries to MENA increased by more than double QoQ and by 43.5% YoY (the share of shipments comprised 26.5%), mainly due to increased shipments to clients in Turkey.

Source : Strategic Research Institute
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MMK Steel segment (Turkey)

MMK Metalurji's revenue for Q1 2019 amounted to USD 130 mln, down 17.7% q-o-q. This decline was due to a decrease in the volume of sales of finished products by 12.9% q-o-q and the continued impact of external unfavourable factors, such as the challenging political and economic situation in Turkey. In this scenario, buyers prefer to wait for more certainty in the market and not to force the purchase to ensure summer seasonal demand.

Nevertheless, gradual stabilisation on the Turkish market allowed the Company to decrease the loss at EBITDA level for the quarter to USD 7 mln, while in March this indicator already reached zero level.

Source : Strategic Research Institute
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SMS Group upgrades walking beam beam furnace at Sidenor Basauri in Spain

Sidenor Basauri Spain trusted in SMS group also for the stage-2 upgrade of its walking beam furnace, which will increase the furnace’s capacity from currently 85 tonnes per hour to 130 tonnes per hour. Supplied by SMS group in 2016, the furnace was originally designed with the provision for a future capacity increase. In the design phase, the SMS engineers had already taken into consideration all civil and mechanical modifications required for the future capacity boost in order to guarantee a short plant shut down and a fast restart. The second start-up after the upgrade is scheduled for the second half of 2020.

The furnace can reheat special steel blooms in sections between 185 and 240 millimeters square. Its state-of-the-art technology will ensure low levels of fuel consumption, scale formation and decarburization also after the modification, helping Sidenor to consolidate its benchmark position in SBQ production. SMS group’s range of supply for the upgrade will include new steel structures with a set of SMS ZeroFlame extra-low NOx burners, which had already been included in stage 1 providing pollutant emissions of less than 100 mg/Nm3 at 1,250 °C, meeting the most stringent of European guidelines.

Source : Strategic Research Institute
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MMK Steel segment (Russia)

Revenue for Q1 2019 amounted to USD 1,783 mln, down 3.6% q-o-q. This decline was due to lower sales volumes amid market prices for metal correction. These factors were partly offset by improved sales mix.

The segment's EBITDA for Q1 2019 amounted to USD 418 mln, down 19.0% q-o-q. The main factor that influenced this was the growth in the cost of sales (due to more expensive key raw materials) amid a decrease in revenue.

The cost of sales for a tonne of slab in Q1 2019 amounted to USD 304 (compared to USD 298 per tonne in Q4 2018)
due to growth of key raw materials prices.

The Company’s profitability was positively affected by the results of a programme aimed at increasing operational
efficiency and optimising costs, which enabled the Company to reduce costs by approximately USD 18 mln in Q1
2019.

Source : Strategic Research Institute
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MEGASA GROUP chooses SMS Group reheating technology for Portuguesa Bar Mill

SMS group has been chosen by MEGASA GROUP for the supply of a new walking beam furnace to be installed in the existing bar mill of SN Seixal Siderurgia Nacional S.A. in Aldeia de Paio Pires, Portugal. The new furnace, rated at 160 tons per hour cold charged and 210 tons per hour hot charged, will include latest technological packages developed by SMS group. Start-up is scheduled for the end of summer 2020.

In particular, MEGASA banks on the SMSPrometheus Level 2 system, the SMS DigiMod combustion management system and SMS ZeroFlame burners. The combination of these three features installed on the sturdy and reliable structure of the SMS furnace will ensure outstanding performance in terms of reductions in fuel consumption, scale formation and pollutant emissions. ZeroFlame, DigiMod and SMSPrometheus will provide reduced NOx emissions down to 90 mg/Nm3, less scale formation down to 0.4 percent, and a decrease in fuel consumption down to less than 27 Nm3 per ton. With this investment, MEGASA will consolidate its leading position in the market of construction steel.

Source : Strategic Research Institute
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Chengde Jianlong to use Danieli Automation’s Q3-Intelligence

Chinese special steel long product manufacturer Chengde Jianlong Special Steel has contracted Danieli Automation to supply the Q3-Intelligence advanced Business Analytics solution suite for the metals industry. Q3-Intelligence will give Chengde Jianlong the ability to measure, through a comprehensive KPI library based on specific Danieli process know-how, all the performance figures of the technological processes of 13 individual plant processes, including steelmaking, casting and rolling.

The project, to be completed and commissioned in 18 months, is the first step of the Chengde Jianlong Digital Transformation strategy, jointly developed with the Danieli Automation DIGI&MET division. This approach, based on widely accepted and recognized methods, included an initial Digital Maturity Assessment study focused on technology and operation. The study involved specialists from the whole Danieli Group, including the steelmaking division Acciaierie Bertoli Safau (ABS).

DIGI&MET is the Digital Metallurgy division of Danieli Automation.

Source : Strategic Research Institute
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Anhui Jinrisheng to add 1.3 million tonne per year iron ore capacity

Mysteel reported that Anhui Jinrisheng Mining Co, a privately-owned mining company in Lu’an, East China’s Anhui province, plans to commission 1.3 million tonnes per year iron ore concentrates capacity by the end of 2019 to better serve the growing need from the local steel mills, a company official confirmed on April 29.

According to the company official, all the planning and construction of the underground mining project was supposed to complete at the end of 2018 but the commissioning has been delayed until this year, “as the iron ore price was rather weak last year”. The newly-commissioned project, the second of Jinrisheng’s.

Source : Mysteel
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