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Metinvest opened an art exhibition and presented the book about steel production

Exhibition of Art of Steel video installations opened in Kyiv on May 14. In the opening ceremony, Yuriy Ryzhenkov, the CEO of Metinvest Group, presented the book The Steelmaker's Kitchen about steel production to business people and officials. The book uses layman's terms to tell about steel making and mining. The entire process of ore mining and steel production is compared to cooking, which is familiar and can be well understood by everyone. This book is written for high schoolers and students, and for all who want to know more about the industry and production process. It has been published in Ukrainian, Russian and English. The book uses augmented reality, so having installed the app on the smart phone or tablet, the reader can see a video about one of the stages of steel production. This is a charity edition, so the books will be distributed to libraries, schools, relevant higher and vocational schools in Ukraine and overseas.

The electronic version of The Steelmaker's Kitchen is available at: metinvest.tilda.ws/ensteelmaking.

Art of Steel offers the video installation of the steel production process from raw materials mining to structures made of Metinvest steel. The 3D video is projected on the walls creating the effect of presence and full immersion into the most eye-catching moments of the production. The steel making process becomes an art. At the same time, it opens up a discussion for young people on what may become their lifework.

Source : Strategic Research Institute
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NUCOR orders water treatment plant from Danieli

The two new water-treatment plants will complete the MI.DA. minimill projects being supplied by Danieli at Nucor Sedalia (Missouri) and Nucor Frostproof (Florida). Each MI.DA. plant has indirect cooling circuits of about 4,000 m3/h for EAF, FTP, CCM, and direct-cooling circuits of about 1,400 m3/h for caster and rolling mill. The selected technologies comply with Nucor’s request for minimized civil construction cost and time, easy and fast erection, reliable and flexible operations, and high-level process control.

Zero-scale pits reduce 900 cubic meters of civil construction related-costs, avoiding the usual large and deep underground pits for settling mill scale.

Installing just three DanFilter™ units ensures high-quality water circulation. Containerized electrical cabins and package cooling towers are preassembled before delivery, ready to connect.

Danieli Automation will integrate the WTP to the plant automation package.

Source : Strategic Research Institute
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JFE Shoji Trade & PROLAMSA form auto steel service center JV JSSB in Mexico

JFE Shoji Trade Corporation, through its subsidiary JFE Shoji Trade America and a leading steel pipe manufacturer in Mexico PRODUCTOS LAMINADOS DE MONTERREY SADE CV established a joint venture company fJFE SHOJI STEEL SERVICE CENTER BAJIO SAPI DE CV J in Mexico to promote processing and sales of steel products for automotive industry. JSSB is constructed in a land adjacent to NUCOR-JFE STEEL MEXICO, a joint venture between JFE Steel Corporation and NUCOR CORPORATION for manufacturing steel products for automotive industry. JSSB is expected to be installed with facilities capable of processing ultra-high strength steel and exposed steel panels for automobiles to capture the rising demand of steel for auto industry, with greater attention paid to safety and quality assurance.

PROLAMSA and JFE Shoji America have already been business partners and established a joint venture plant of Cold Drawn Tube Manufacturing (PROSANKIN) in 2015. JSSB was established to realize the desires of both JFE Shoji America, which aims to capture the demand of steel for automobiles, and PROLAMSA GROUP, which intends to further expand automotive related business.

Outline of the new steel service center
Company Name: JFE SHOJI STEEL SERVICE CENTER BAJIO S.A.P.I. DE C.V.
Location: Silao, Guanajato, Mexico
Establishment Investment amount: April 2019 - Approx JPY 3 billion (JFE Shoji America 95%, PROLAMSA GROUP 5%)
Form of business: Processing and sales of steel products
Facility: Big slitter machine capable of processing ultra-high strength steel
(Thickness range: 0.4~3.6mm, Max. width: 1,880mm, TS max: 1,470Mpa)
Start of Operation: October 2020 (Planned)
Land area: 104,897 sf

Source : Strategic Research Institute
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Short-term funding found for British Steel jobs - Report

ITV reported that British Steel's workers have been told that production will continue as normal after funding was provided by lenders and shareholders. A British Steel spokeswoman said "British Steel has the backing of its key stakeholders, including shareholders and lenders, and operations continue as normal. As the business navigates the significant uncertainties caused by Brexit, and explores options to strengthen the business for the long term, we are pleased to confirm that we have the required liquidity while we work towards a permanent solution."

Mr Alasdair McDiarmid, of the Community Union, said it was welcome news that British Steel owner Greybull has found sufficient funds to give the business a chance. But he insisted that the Government must help find a solution to secure the long term future of the business. He said "At this critical time, we would urge everyone involved, including suppliers and contractors, to hold their nerve and refrain from taking any knee-jerk actions that could create further barriers to a successful outcome. These are deeply unsettling times for our members and their families. Unite will continue to fight for the future of British Steel to ensure it continues to be a source of decent, well-paid jobs which sustains communities across the UK. We urge the Government and Greybull to agree a package which guarantees the long-term future of British Steel as quickly as possible to safeguard jobs and confidence in the company."

British Steel had asked for a package of support to tackle Brexit-related issues and has been holding talks with the Government, raising fears for the future of the company, which employs more than 4,000 workers, mainly in Scunthorpe.

Source : ITV
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Essar Steel CoC defends Standard Chartered claim at NCLAT

Business Today reported that Senior advocate Gopal Subramanium representing the Committee of Creditors of Essar Steel informed National Company Law Appellatre Tribunal that Standard Chartered Bank is a secured financial creditor and one among us but the flow of money given by it was outside India. He said "We agree that Standard Chartered is a secured creditor. Their justification for giving the money was of totally different in nature. The money was transferred from India to a Mauritian entity for a US based step down unit.In normal circumstances we would have given money to them."

Over the issue of OSPIL, Subramanium said that it was a step-down firm and separate insolvency is going for that. He said "Orissa Slurry would not be a part of this resolution procees. Bhubaneshwar-based National Company Law Tribunal has already admitted Insolvency proceedings against it on May 13."

Standard Chartered, one of the secured financial creditors, claimed that bankers have clubbed Orissa Slurry Pipeline Ltd with Essar Steel in the auction to recover unpaid loans. It alleged that INR 2,500 crore, which should have been paid to Standard Chartered, has been diverted to lenders of OSPL. Standard Chartered, which is seeking to be treated at par with the secured financial creditor for its claim, said bankers have clubbed OSPL with Essar Steel.

Source : Business Today
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ArcelorMittal bid for Essar Steel includes INR 2500 crore working capital - CoC to NCLAT

Business Today reported that Senior advocate Gopal Subramanium representing the Committee of Creditors of Essar Steel informed National Company Law Appellatre Tribunal that out of INR 42,000 crore coming from the resolution plan of ArcelorMittal, INR 2,500 crore has been marked as the working capital of the debt-laden firm, implyingthat only INR 39,500 crore would be available for distribution among the financial creditors and operational creditors.

COC clarified that the current resolution plan is only for Essar Steel Ltd and OSPIL Ltd is not part of it. Mr Subramanium submitted "It is a fact that in the Supreme Court offer was made for INR 42,000 crores. But in the final judgment, the Supreme Court only referred to the previous offer of INR 35,000 crore. Ultimately, after a lot of discussion it was raised to INR 39,500 crore. Then there was a discussion on working capital. We said please guarantee INR 2,500 crore, so total upfront payment is INR 42,000 crore."

According to him, this Rs 2,500 crore is the minimum guarantee to the creditors of Essar Steel irrespective of whether the company is in profit or loss during the pendency of the insolvency resolution process. He said "We wanted a guarantee that if it was a minus, at least INR 2,500 crore you must commit. If, however, there is actually profit, whatever is actually profit, will be given to lenders. We said alright. If it is negative, there is INR 2,500 crore and whatever excess of INR 2,500 crore is there, it would be given back to the creditors.”

Source : Business Today
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Weakness in EU steel safeguard and poor market conditions threaten sector - EUROFER

The European Steel Association said that surging import volumes, stalling economic growth, high and volatile raw material costs and sharply growing carbon costs are coming together to form a perfect storm that could knock the European steel industry back into a period of severe crisis and that the impact of this combination of factors has already begun to affect European steel producers, with facilities being idled and production being cut back significantly across Europe. Mr Axel Eggert, Director General of EUROFER, said “The European steel sector has had less than two years of stability, a period which arguably ended in mid-2018 with the imposition of the US’ Section 232 measures. 2017 saw 8,000 jobs return to the sector, with another 2,000 following in 2018 – bringing total direct employment in the steel industry back up to 330,000. However, if this mix of negative conditions persists, these gains could be reversed”.

Steel markets have slowed abruptly, both in the EU and worldwide. Growth in steel demand was 3.3% in 2018 and EUROFER forecasts suggest there will be a decline of 0.4% in 2019. Mr Eggert said “This stalling demand coincides with import volumes rising at an ever faster rate. These grew by 12% YoY in 2018, 2017 was already a record, and 2019 might see volumes increase even further. This import growth underlines the absurdity of a safeguard which includes programmed periodic ‘relaxations’ of 5%: in February and July 2019, and again in July 2020 – even though demand is expected to be flat. This is an overgenerous gift to steel exporters to the EU”.

Meanwhile, the carbon price has now reached EUR 25 per tonne of CO2, which is considerable given the relative size of the steel sector’s tight margins. Pared with supply volatility for iron ore in the wake of the Vale/Brumadinho dam disaster in Brazil, alongside high and volatile scrap and coking coal prices, the European steel industry is struggling on several fronts at once. Mr Eggert said “Any one of these factors would cause difficulties for the sector. In combination they are a perfect storm of negative dynamics entirely beyond the control of the steel industry itself.”

Following the financial and economic crisis European steel struggled to swing back onto an even keel, with depressed demand growth and aggressive targeting by exporters to the EU in a global market awash with excess production capacity. He said “We have now had as little as 18 months to rebuild – and have achieved just as the economic cycle seems to have reached the tail end. For the European steel industry not to be swept away we need policy makers to handle the primary threat: the surge of imports that has consumed virtually the entirety of the growth in EU steel demand for the better part of a decade”.

EUROFER has written to EU policy makers making this point, in particular relating to making the EU steel safeguard more robust and effective, as well as continuing work on WTO reform and on international cooperation to remove the causes of subsidised global overcapacity. He concluded “Despite being well-intentioned, the current steel safeguard framework has not prevented surging imports. EU producer margins are on the floor, which undermines their ability to invest in skills, technology and low-carbon development. The alarm bells are already ringing and action is required today to prevent this flood washing the sector away.”

Source : Strategic Research Institute
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Trump Trade War - US resuces tariffs on Turkish steel imports to 25%

White House said that US administration has cut special tariffs on steel imports from Turkey to 25%, after having raised the duty to 50% in August 2018. The White House said “It is appropriate to terminate Turkey’s eligibility to participate in the Generalized System of Preferences program, based on its level of economic development. Maintaining the existing 25% tariff on most countries is necessary and appropriate at this time to address the threatened impairment of the national security. The decision is effective May 17.”

President Trump subsequently raised the duty on Turkish steel to 50% in August as his administration quarreled with Turkey’s President Recep Tayyip Erdogan over the country’s detention of an American evangelical pastor.

Source : Strategic Research Institute
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China’s iron ore hits record high on brisk demand, stimulus hopes - Trader

Reuters reported that China’s benchmark iron ore futures jumped to a record high on Thursday, rising along with the rest of the country’s ferrous complex on robust demand for the steelmaking feedstock amid falling stocks. Expectations that steel demand in the world’s top consumer will also remain strong buoyed prices of construction-used rebar and hot-rolled coil. Surprisingly weaker growth in Chinese retail sales and industrial output for April added to pressure on Beijing to roll out more stimulus measures, sparking hopes of more investments in infrastructure that could further boost steel demand. The most-traded September 2019 iron ore on the Dalian Commodity Exchange surged as much as 5.5% to CNY 685 a tonne, the contract’s highest since 2013, before closing 4.8% higher at CNY 680.5.

A Shanghai-based trader said that “It’s because of some seasonal demand, which is quite strong, with some impact from the supply side.” Steel mills were replenishing their iron ore stocks as healthy profit margins encouraged them to boost output, the trader said.

The trader said that “Profit margin is still good because we (also) have some restrictions on the production side for environmental protection. This situation will last maybe until autumn, or the third quarter of this year.”

China’s crude steel production rose 12.7% in April from March to its highest monthly level on record, official data showed on Wednesday, bolstered by firm demand and good profitability.

Source : Reuters
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Southland Steel Fabricators hiring at expanded Amite facility

New Orleans City Business reported that a steel manufacturer that recently announced an USD 18 million expansion in Amite is looking for workers. Southland Steel Fabricators is holding a job fair May 21 from 11 a.m. to 7 p.m. at the Northshore Technical Community College campus in Greensburg at 7067 LA-10. The company wants welders, machine operators, fitters, material loaders and inspectors for hourly positions at the former Bradken foundry.

Southland Steel employs 176 in Greensburg and plans to fill 70 new positions in Amite with an average annual salary of USD 46,000 plus benefits.

Source : New Orleans City Business
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Over 1.7 billion tonnes of iron ore discovered in parts of Northern Ghana - Mr Kyei-Mensah-Bonsu

The Majority Leader in Parliament and Minister of Parliamentary Affairs, Mr Osei Kyei-Mensah-Bonsu, has revealed that over 1.7 billion tonnes of iron ore has been discovered in an ongoing exploration exercise at Sheini in the Yendi Municipality of the Northern Region. He added that the volume of the mineral deposit was estimated to hit three billion by the end of the exercise. He said that “Growing up, we all knew about the Oppong Manso iron mine in the Western Region, which is about 360 million tonnes, and also some 60-million tonne deposits in the Upper West Region, but the iron ore that has been discovered at Sheini is the biggest in the country.”

Mr Kyei-Mensah-Bonsu said that “The volumes of deposit that have been discovered are based on the area that has already been assessed, but the rock formation in the area of the discovery extends to Togo, so I believe that when we are done with the reassessment, we will be having huge volumes of the mineral.”

He said that this discovery will serve as a major boost to the iron and steel industry in Ghana and beyond. The Ghana Iron and Steel Development Corporation Bill that was passed by Parliament recently was awaiting Presidential Assent for work on the corporation to start.

However, some Ghanaians are not enthused by the discovery. Ghanaian social media users have asked how this will benefit the country since the existing minerals in Ghana have not led to financial liberation.

Source : Pulse
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Government to e-auction iron ore dumps lying in Goa – CM Mr Sawant

Goa Chief Minister Mr Pramod Sawant has said his government would conduct an e-auction of the piles of low-grade iron ore lying across the state, as a first step towards resumption of the mining industry. Mr Sawant held meetings with mine owners and government officials on Tuesday to work out a solution for the resumption of the industry, which came to a halt in March 2018 after the Supreme Court quashed the renewal of 88 mining leases. The industry is a key source of revenue for the government.

Mr Sawant told reporters here on Tuesday that various dumps of low-grade iron ore lying across Goa would be e-auctioned to restart mining activity in the state. After the process of e-auction starts, the government will formulate a Mining Dump Policy by July. The Chief Minister, who also holds mining portfolio, has asked the Directorate of Mines and Geology to provide the inventory of dumps lying across the state.

He said resumption of mining was his government's priority as the closure of the industry was affecting the livelihood of thousands of people across the state.

He added that the mining stakeholders also urged the government to take steps to restart the iron ore extraction activity in the state, adding "We have sought more details from the stakeholders which would be useful to fight cases in the Supreme Court and also to work out a solution as soon as possible."

Source : PTI
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'VS schaffen staalheffing Canada en Mexico af'

Gepubliceerd op 17 mei 2019 om 17:47 | Views: 247

WASHINGTON (AFN) - De Verenigde Staten willen de heffingen op geïmporteerd staal en aluminium uit Canada en Mexico weer schrappen. Daarmee wil de Amerikaanse regering ratificatie van een handelsakkoord met de twee buurlanden vlot trekken, aldus ingewijden rond de zaak.

President Donald Trump legde Canada en Mexico bijna een jaar geleden een importheffing van 25 procent op staal en 10 procent op aluminium op. Dat deed hij officieel om de nationale veiligheid te waarborgen. De heffingen zorgden echter voor wrevel vanuit de buurlanden en zorgden ervoor dat de toekomst van een nieuwe handelsdeal, die het vrijhandelsakkoord NAFTA moet vervangen, onduidelijk werd.

De Amerikaanse handelsgezant Robert Lighthizer heeft volksvertegenwoordigers al ingelicht over een ophanden zijnde deal. De datum voor het afschaffen van de importheffingen is nog niet vastgesteld.
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VS akkoord met Canada en Mexico over beeindigen importtarieven staal

(ABM FN-Dow Jones) De Verenigde Staten, Mexico en Canada hebben een akkoord bereikt over het beëindigen van Amerikaanse importtarieven op staal en aluminium, waarmee een grote horde is genomen voor een handelsdeal tussen de drie Noord-Amerikaanse landen die het oude NAFTA-akkoord moet vervangen.

De Amerikaanse president Donald Trump bevestigde de deal vrijdag. Details gaf het Witte Huis niet. Canada verklaarde dat een akkoord is gesloten voor het laten vervallen van de Amerikaanse importsancties en de Canadese tegenmaatregelen. Die worden binnen twee dagen opgeheven. Mexico zei dat men in samenspraak met de VS verdere details zal bekendmaken.

De Amerikaanse handelsgezant Robert Lighthizer onderhandelde de afgelopen tijd over het opheffen van de importsancties op staal en aluminium uit Amerika's buurlanden. De tarieven vormden een bedreiging voor de USMCA handelsdeal, die in de plaats komt voor het oude NAFTA-akkoord. Diverse Republikeinse beleidsmakers dreigden tegen de deal te stemmen wanneer de importtarieven niet zouden worden opgeheven. Trump sprak vrijdag de hoop uit dat het Congres nu snel groen licht geeft.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved.
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Trump Trade War - US forges peace with Canada & Mexico

US President Mr Donald Trump said the US will lift 25% steel and 10% aluminum Section 232 tariffs on Canada and Mexico within 48 hours. He said "I'm pleased to announce that we've just reached an agreement with Canada and Mexico and will be selling our product into those countries without the imposition of tariffs or major tariffs. Hopefully Congress will approve the USMCA quickly." As part of the agreement, the US will be able to re-impose the tariffs on metals imports if not enough is done to prevent any surge of metals imports beyond historical levels. The nations have also agreed to ramp up efforts to trace where the metals have come from originally, to stop the diversion of shipments from other nations to dodge tariffs. The enforcement system will aim to advantage primary steel and aluminum producers in the three-nation trading bloc to ensure that the metal is melted, poured or smelted regionally.

The tariffs have stood in the way of getting Trump’s new North American trade deal approved by Congress, and ratified in Canada and Mexico.

Source : Strategic Research Institute
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Trump Trade War - Could result in steel dumping into India - IndRa

India Ratings and Research believes the rise in trade tensions between the US and China could lead the latter to guide its exports towards Emerging Markets. In the past, China has showcased such tendency and dumped its products at predatory rates in many markets including India. This could potentially disrupt the demand-supply dynamics in the Indian domestic markets, especially for products such as electronic goods, iron and steel and organic chemicals. A fall in Chinese exports to the US could potentially put downward pressures on the Chinese yuan. A likely devaluation of the yuan could stimulate a competitive depreciation in the Indian rupee, failing which the competitiveness of Indian exports could be affected.

Rise in US Inflation Could Affect Capital Flows
Chinese exports accounted about 18% of the total US imports in 2018, representing 2.34% of the US GDP. Given the substantial share of Chinese imports in comparison with the size of the US GDP, lower imports or a rise in the cost of imported goods could stimulate inflationary pressures in the US. This could provide fillip to the US credit market yields, which in turn could push up discount rates and reduce the arbitrage opportunity for US investors, resulting in weaker foreign portfolio investment flows to EMs including India. As highlighted in Ind-Ra's FY20 Corporate & Capital Market Outlook, a continued shrinkage in the Chinese trade surplus is likely to transform China from an exporter of capital to a net importer of foreign capital. Therefore, Ind-Ra expects the combined effect of higher capital flows into China and a rise in inflation in the US to crowd out and impinge upon flows into EMs.

India Exports Unlikely to Substitute Chinese Exports to the US
Ind-Ra opines that India is unlikely to benefit much from the ongoing trade frictions between the US and China. There is a stark difference in the nature of commodities exported by India and China to the US. For instance, pharmaceutical products, and gems and jewellery accounted around 30% of the Indian exports to the US, while electronic goods and capital goods accounted 47% of the Chinese exports to the US in 2018.

Potential Rise in Chinese Exports to India
Any slowdown in Chinese exports to the US on account of the recent imposition of tariffs on Chinese goods could result in a commensurate rise in Chinese exports to other EMs. With Chinese industrial production continuing to grow at around 5% and Chinese exports to US contracting persistently, over the last few years, Chinese exporters have started penetrating into alternate markets. Hence, imports by other Asian EMs from China grew 20.70% in 2018 versus 12.75% in 2010. This has been catalysed by the Chinese manufacturers' ability to undercut domestic manufacturers in these markets, resulting in lower market share for the domestic players in the EMs. With the Chinese industrial production continuing to grow at around 5% persistently, imports by other Asian EMs from China grew to 20.70% in 2018 (2010: 12.75%). This has largely been catalysed by the Chinese manufacturers ability to undercut domestic manufacturers in these markets, resulting in lower market share for the domestic players. This risk is further exacerbated by the benign domestic demand conditions, coupled with weak capacity utilisation levels in China. Ind-Ra expects the contraction in Chinese trade flows to the US is likely to result in dumping of key commodities such as electronic and electrical components, steel, chemicals, plastic products and other intermediate goods.

Steel and Polymer Imports to Increase
In particular, India's share of imports from China in total imports of steel, polymer and capital goods could potentially increase as Chinese exports to the US start losing traction. The impact could percolate through lower international prices, thereby putting pressure on domestic prices due to diversion of supply from China to other importing countries. The agency expects demand-supply dynamics in these sectors to get skewed unfavourably over the medium term. Nonetheless, the impact is difficult to quantify at this point in time and will be contingent on the Chinese production/capacity utilisation levels, global demand-supply scenario and a host of other evolving factors.

Source : Strategic Research Institute
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Primetals Technologies to supply Arvedi ESP line to US Steel

Primetals Technologies will supply an Arvedi ESP (Endless Strip Production) line to United States Steel Corporation for its Edgar Thomson Plant at Braddock, Pennsylvania production location. This will be the first ESP line to be constructed in the US. The casting-rolling plant has a rated capacity of 2.5 million metric tons (2.76 million short tons) of high-quality, ultra-thin strip. With a maximum strip width of 1,956 mm (77”), it will be the widest ESP line ever built. The Arvedi ESP line is designed to produce strip with thickness between 0.8 mm (0.031”) and 6 mm (0.236”) in a width range from 965 (38”) to 1956 mm (77”). Primetals Technologies is responsible for the engineering of the Arvedi ESP plant and will supply mechanical equipment, media-control systems, technological packages and automation systems. The entire line is controlled by a completely integrated basic (Level 1) and process optimization (Level 2) automation, which fully controls all casting and rolling operations. Level 3 automation is also included in the scope of supply as well as the power supply transformers and substation. For coil transport, a modular shuttle car will be provided.

With this investment, Mon Valley Works will become the principal source of substrate for the production of the company’s industry-leading XG3™ Advanced High Strength Steel (AHSS) that assists automotive customers in meeting fuel efficiency standards. This project, in addition to producing sustainable AHSS, will improve environmental performance, energy conservation and reduce our carbon footprint associated with Mon Valley Works. First coil production is expected in 2022, contingent upon permitting and construction.

The Edgar Thomson Plant in Braddock, Pennsylvania as part of US Steel´s Mon Valley Works is an integrated steelmaking operation that also includes three other separate facilities with a total annual raw steel production capability of 2.9 million tons. It is located about 10 miles southeast of Pittsburgh and is where basic steel production takes place at Mon Valley Works. The facility operates two blast furnaces, two BOF converters, vacuum degassing and ladle metallurgy facilities and a dual-strand continuous slab caster. Slabs are further processed in another facility of Mon Valley Works.

In the Arvedi ESP process, hot-rolled coils are produced in a linked casting and rolling plant directly from liquid steel in a continuous and uninterrupted manufacturing process. The line commences with the casting of a thin strand that is subsequently rolled to an intermediate thickness of 10 to 20 mm in a 3-stand high-reduction mill positioned at the end of the caster. After reheating in an induction heater, rolling of the transfer bar to the targeted end thickness is performed in a 5-stand finishing mill followed by laminar strip cooling. Strip cutting is then carried out by means of a high-speed shear immediately prior to coiling. The full range of steel grades can be flexibly produced on Arvedi ESP plants.

Mills of this type have an energy consumption and associated costs up to 45% lower than those of conventional mills with separate casting and rolling processes. They also have substantially reduced CO2 emissions. Furthermore, the dimensions of these mills, with a length of in this case only 180 meters, are considerably more compact than those of conventional casting and rolling mills.

Source : Strategic Research Institute
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EU opens review of safeguard measures on steel product imports

SP Global reported that European Commission has opened its initiation review of the safeguard measures on a number of imported steel products, focusing in particular on investigating why certain quotas were filled quickly. The EC will focus on understanding why certain country-specific tariff-rate quotas were exhausted at an unusually fast pace. These include Turkey (organic coated sheets, rebars, wire rod, large welded tubes), Russia (rebar and rod) and China (coils for automotive (4B) and stainless rod). EC said that the Commission will examine whether there are changed circumstances justifying an adjustment in the level or the allocation of the existing tariff-rate quota. It said that "For certain product categories, the residual tariff-rate quota has been exhausted rapidly with imports from one or several countries, sometimes benefiting from country-specific tariff-rate quota, crowding out traditional import flows from other origins, thereby restricting customers' choice. This has for example been the case for product categories 4B [coils of auto] 13 [rebars] and 16 [wire rod].”

The EC notice said that "The Commission will therefore investigate whether this fact has adversely affected the Union interest, in particular regarding the need to maintain traditional trade flows, and, where appropriate, decide potential remedies for this situation.”

The EU review starts just a day after the US administration announced its decision to return to 25% import tariffs on Turkish products, down from 50% previously.

The head of Italian steel distribution association Assofermet, Tommaso Sandrini, told S&P Global Platts that "The revision needs now also to take into consideration that a lot of products from Turkey went into Europe quickly, because for the Turkish mills it was very difficult to enter the US market due to the high import tariffs. But now that they have been halved, trade flows could change again."

A Eurofer spokesman said that "We will have to wait and see what, if any, effect there is from the return of the tariffs to the original 25% level.” He said that "Deflection to the EU was happening even before the tariff was raised to 50% for Turkey, so it is unclear whether they would regain access to the US market with the tariff change. The safeguard has incited exporters to the EU market to rush to stockpile certain types of steel in order to grab as large a part of the quota as possible," he said. "Eurofer is addressing these concerns with policymakers regarding the design and the upcoming revisions of the unfinished safeguard."

On 31 January, the European Commission imposed safeguard measures consisting of a tariff-rate quota on imports into the EU of 26 steel product categories. They will remain in place until 30 June 2021. Market participants now have 15 days to submit their views and provide supporting evidence to the Commission.

Source : SP Global
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Trump Trade War - Could cut China growth by 1% - Report

The South China Morning Post, citing a senior official of China's ruling Communist Party, reported on Friday that the trade dispute with the U.S. could reduce China's growth pace this year by as much as 1 percentage point. The paper said Wang Yang, a member of the Communist Party's seven-person Standing Committee, told a delegation of Taiwanese business people whose firms are based in China that the worst-case scenario from the trade war was a 1% point drop in GDP growth this year.

Source : South China Morning Post
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FICCI calls for inclusive rail freight policy

Business Line reported that industry body FICCI has suggested to the railways ministry various measures like inclusion of coal and coke in long-term tariff contract policy, to promote growth of steel industry. The policy was unveiled by the ministry for key customers using predetermined price escalation principle. FICCI also suggested rationalisation of freight class for iron ore, formulation of long-term policy on freight structure for short lead traffic, allocation of more rakes for movement of cargo for industries, and route rationalisation policy for iron ore and limestone. It also said it is essential to rationalise freight class for iron ore in view of the viability of domestic iron ore mining and steel sector.

It said that “Since a wide range of industrial segments ranging from metals to thermal power generation are dependent upon coal, coke and iron ore, these commodities should also be covered under the LTTC policy.”

FICCI noted that while this policy provides certainty in logistics operations to the industry and railways, there are exceptions in the policy and the most transported commodities - iron ore, coal and coke have been listed under excluded category.

Further, it said several railway routes carrying iron ore and limestones have been subjected to route rationalisation due to congestion in the railway network and delays in doubling /trebling of lines to ease the situation.

It said that “Therefore, route rationalisation needs to be reconsidered and corrected.”

Source : Business Line
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21-okt-19 17:35
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