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Ukraine opens anti dumping probe into steel pipe imports from China

UNIAN reported that Interdepartmental Commission on International Trade on May 14 decided to open an anti-dumping investigation regarding the import of seamless hot-rolled steel pipes from China into Ukraine. As reported by the press service of the Ministry of Economic Development and Trade of Ukraine, the ministry received a complaint from the national manufacturer, which reported that in 2015-2018 import prices of seamless hot-rolled steel pipes from China were lower than the prices of similar products of the national producer, and import prices were lower in 2018 than the cost of goods of domestic producers. At the same time, the growth in imports of hot-rolled seamless steel pipes from China amounted to 356% in 2018 against 2015.

The report said that "The interdepartmental commission found that the national manufacturer provided enough evidence to assume that the imports of seamless hot-rolled steel pipes originating from China into Ukraine could be carried out at dumping prices. Therefore, the commission decided to launch an anti-dumping investigation.”

As UNIAN reported earlier, trade between Ukraine and China in January to November 2018 grew by USD 1.1 billion compared to the 12 months of 2017, to USD 8.82 billion. China is among Ukraine's ten largest trading partners.

Source : UNIAN
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Brazilian court freezes USD 15 million of Brazilian subsidiary of auditor TUV SUD

Reuters reported that a Brazilian court ruled that 60 million reais (USD 15 million) of German auditor TÜV SÜD’s assets be frozen and used to help pay for reparations to families affected by a deadly dam burst. TÜV SÜD certified the stability of a Vale SA tailings dam that collapsed in January, killing nearly 300 people in the state of Minas Gerais.

The Minas Gerais court located in the city of Brumadinho, close to the where the dam burst, also forbade TÜV SÜD from auditing the stability of dams.

TÜV SÜD declined to comment on the ruling.

Source : Reuters
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Trump Trade War - Consumers are a casualty on both sides

Over the last week, we've seen an escalation in US-China trade tensions, and both sides have increased tariffs on billions of dollars worth of each other's goods. While the tariffs may or may not help in terms of reaching a trade deal, in the short term, consumers could be the ultimate casualty. If President Donald Trump goes ahead with imposing a 25% tariff on all remaining Chinese products, the prices of several goods could rise. Last year, several US companies voiced their opposition to the tariffs, warning that they might have to increase their prices if the tariffs were imposed.

The key point of contention in the US-China trade dispute is the large trade deficit the United States runs against China and the former’s belief that China has been playing it unfairly for decades. The difference is staggering. In 2018, the US exported USD 180 billion worth of goods and services to China and imported USD 559 billion in return. Thus, the United States ran a trade deficit of USD 379 billion against China alone in 2018. China accounted for a massive 42.5% of America’s total trade deficit of USD 891 billion in the year.

President Donald Trump believes that China has taken advantage of world trade agreements when trading with the United States. President Trump’s accusation isn’t entirely untrue. China has suppressed the Chinese yuan and rolled out stimulus packages to support exporters.

As it stands, the United States has already put tariffs on USD 250 billion worth of Chinese goods and is gearing up to include USD 300 billion worth of goods in the list. This week, China retaliated by announcing that it would impose tariffs on $60 billion worth of US goods entering China. The trade talks between these countries remain inconclusive. President Trump is expected to meet Chinese President Xi Jinping at the G20 summit in Japan in June.

Source : Strategic Research Institute
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Algoma Steel extends their sincerest thanks to the government

Algoma Steel Inc congratulates the Government of Canada on the complete lift of steel tariffs imposed under Section 232 as announced. This returns Canada and the US to a fair and just steel trade position within a fully integrated North American market.

Algoma Steel CEO Mike McQuade commented that “Today’s announcement provides our customers with the confidence that Algoma Steel remains their partner in steel. I extend our sincere thanks to the current government, who under the leadership of Prime Minister Trudeau and Minister Freeland have recognized the critical role of the steel industry in Canada.”

Source : Strategic Research Institute
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Bay Steel Corp relocating and expanding

ALCom reported that Mobile based Bay Steel Corp which supplies structural material for a wide variety of industrial uses in the Southeast, has announced a major expansion project. According to information released by the company and the Mobile Area Chamber of Commerce, the family owned company will invest USD 6.29 million as it moves from the Port of Mobile to 32 acres it owns on Todd Acres Drive across from Mobile Commerce Park, a location that gives easy access to I-10 via Rangeline Road.

Bay Steel will construct 76,500 square feet of office and warehouse space on 7.5 acres of the property. The company will add five employees to its current roster of 13, with the new facility expected to be open in early 2020.

Chamber of Commerce officials said the project received an abatement of city, county and state sales and use taxes related to construction, with an estimated value of USD 207,000 over 2 years. The financial net benefit of the project over 15 years was estimated at USD 1.3 million.

Bay Steel Vice President Mr Neal Collins described the company as a wholesaler of carbon-steel products used in heavy fabrication, plant maintenance, shipbuilding and other industrial work. He said that while the company does import and export some material, moving away from the port would not be a significant disadvantage. He said that “Our new operations will allow us to be more efficient with our space, triple the number of overhead cranes and gives us room to grow, and we’re excited about that.”

Source : ALCom
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Aging steel thought to be cause of dam failure in Texas

Water Power Magazine reported that the failure of a spillgate at a 91 year old dam in Texas last week is thought to have been caused by aging structural steel, although the official cause of the incident has not yet been determined. The Guadalupe-Blanco River Authority announced it had experienced a spillgate failure at Lake Dunlap, in Guadalupe County, at approximately 7:49 AM on May 14, 2019. The failure resulted in the dewatering of Lake Dunlap and a video of the collapse has been widely circulated online. In a statement, GBRA said it had experienced a similar spillgate collapse at Lake Wood, four miles west of Gonzales, in 2016 caused by a failure of structural steel members inside the gate. While the cause of the failure at Lake Dunlap will not be determined until further investigation, it is currently believed the failure at Dunlap is also related to aging structural steel.

GBRA General Manager Mr Kevin Patteson said that “We recognize the value of Lake Dunlap to the community. GBRA is committed to finding a solution to replace the spillgates at all of our aging dams. The ability to move forward with construction at Lake Dunlap, Lake Wood, and the other dams is dependent on securing funding for these multi-year, multi-million dollar projects.”

After the gate failure at Lake Wood, GBRA engaged consulting engineers to determine the most feasible solution for repair or replacement of the spillgates in the hydroelectric system. The result of this analysis led to GBRA’s decision to replace all of the aging spillgates with a more modern gate system.

In 2018, GBRA began the design of hydraulic crest gates for Lake Wood, and is currently progressing with a design that will involve replacement of the spillgates along with modifications to the concrete structure of the dam. The design, which will take approximately a year to complete, will be similar for the other dams in the system, including at Lake Dunlap.

These improvements are expected to take two to three years for construction at each site, and require approximately USD 15 million to USD 35 million per dam. GBRA’s revenues alone cannot support that level of investment and it said it is continuing to research all available funding opportunities through state and federal resources, as well as stakeholder partnerships.

Source : Water Power Magazine
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Kericho based steel factory to boost construction in South Rift

The Star reported that developers in South Rift region have reason to smile after a Sh800 million steel manufacturing plant was opened in the area. Prime steel company at Awasi in Kericho producing iron and steel materials comes as a big relief to construction companies and developers from the region that have for long incurred huge expenses when sourcing for the materials. Mr Robert Rono, an architect based in Bomet, said the presence of Prime Steel has changed the construction sector for the better. Rono said those planning to carry out constructions will now spend less money due to cheap and readily available materials from the factory. He said that “Cost of transportation is much less nowadays besides spending less in acquiring the materials for construction from the factory.”

Until recently, developers and local suppliers have had to source for materials from Eldoret and Nairobi which are the nearest centres in the region. Mr Rono hails the development of the plant saying its successful establishment was a true realisation of the industrialisation plan under the Big 4 agenda.

Mr Rono said that “This is a testimony that the Big 4 agenda can turn things for the economy of the country.” African countries are fast moving towards promoting manufacturing as it is the most significant tool that presents sustainable and quickest means of boosting their economy. In the country, the manufacturing sector had been forgotten, contributing less than 10% of the GDP in the past 10 years according to data from the Kenya National Bureau of Statistics.

With government keen on promoting the sector, it anticipates that by 2022 it will contribute up to 15%. The plant which now boasts of five other branches across the country sits on a 26-hectare land; formerly a sugarcane farm, located off the Kericho-Kisumu highway.

The proprietor Mr Patel Chetan said that the company is well positioned to tap raw materials for its production from the region including the discovery of huge iron ore deposits in the Western part of country and neighbouring counties of Bomet and Eldoret.

It has employed more than 350 employees, most of whom are locals. The development of the plant in the area comes as a result of the government’s plan to strengthen local production by providing a good working environment to investors to set up factories as a way of reducing importations while expanding to the regional market.With the coming up of the plant, costs of the construction materials have reduced significantly.

Suppliers from Narok, Kakamega and even Nairobi source directly from the factory. Some of its products include bars, plates, and steel rolls among others and which are being now being used in construction of high buildings across the country and the ongoing standard gauge railway.Kenya’s annual demand for steel products is estimated at 500, 000 tonnes, a figure suggesting it is still less than what is being imported from outside the country to meet the demand.

The plant operations manager Mr Satyanarayana Ganta said that the company has also played a key role towards spurring development growth in the region.He said that “We want more of such industries in the region, more job opportunities will be created to the residents.”

The company is also engaged in support of the local community as part of its corporate social responsibility program where it has donated construction materials to various schools in the region. The plant is also supplying clean water to the local community.

Source : The Star
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Trump Trade war - Mexico industry group hails tariff agreement

Mexico's National Chamber of the Iron and Steel Industry is congratulating the country's officials on the agreement reached with the United States on ending steel and aluminum tariffs. The chamber said in a statement posted online that it considers the deal a strong and very positive step for industry in the entire region. It also called it a great advance toward ratifying the new trade deal between Mexico, the United States and Canada.

The chamber added Friday afternoon that, "As we have reiterated on diverse occasions, free and fair trade in the region favors the competitiveness of North America."

Source : AP
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FACOR Alloys announced Q4 net profit falls

FACOR ALLOYS LTD has reported financial results for the period ended March 31, 2019. The company has reported net sales of INR 83.13 crores during the period ended March 31, 2019 as compared to INR 85.61 crores during the period ended December 31, 2018. The company has posted net profit of INR 1.47 crores for the period ended March 31, 2019 as against INR 2.59 crores for the period ended December 31, 2018.

The company has reported net sales of INR 369.56 crores during the 12 months period ended March 31, 2019 as compared to INR 317.02 crores during the 12 months period ended March 31, 2018. The company has posted net profit of INR 14.91 crores for the 12 months period ended March 31, 2019 as against INR 0.31 crores for the 12 months period ended March 31, 2018.

Source : Strategic Research Institute
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Metalloinvest announced partial redemption of Eurobonds-2020

Metalloinvest announces the partial redemption of Eurobonds-2020 issued by Metalloinvest Finance DAC in 2013. In order to optimise the loan portfolio, the Company has redeemed part of the outstanding Eurobonds for the nominal value of USD 62.114 million using its own funds. As a result, the Eurobonds’ current outstanding nominal value is USD 270.615 million with maturity in April 2020.

Source : Strategic Research Institute
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Moody's assigns thyssenkrupp's Ba2 ratings

Moody's Investors Service placed on review for downgrade all long-term ratings of thyssenkrupp AG including the Ba2 corporate family rating, the Ba2-PD probability of default rating (PDR), the Ba2 instrument ratings on the senior unsecured debt facilities and the (P)Ba2 senior unsecured medium term note program rating. Concurrently, Moody's has affirmed tk's NP commercial paper and its (P)NP other short term ratings. The outlook has been changed to rating under review from negative. The rating action follows tk's announcement on 10 May 2019 that it will abandon its planned joint venture with Indian Tata Steel Ltd (Ba2 stable) and the split of the business in two separate companies with a clearer industrial focus, whilst revising its guidance for the current financial year ending 30 September 2019.

The review for downgrade reflects (1) tk's proposed fundamental realignment of its business strategy, including a potential partial IPO of its elevator business, as well as (2) the expected weakening in the group's operating performance and free cash flow generation in 2019 in light of the currently weak positioning in the Ba2 rating category.

The review will consider the upside from a potential cash inflow from a partial IPO on the group's financial flexibility, somewhat offset by the future participation of minority shareholders in the group's most profitable asset, as well as the additional contributions from a further restructuring of the group's operations, to be achieved only with sizeable cash outflows to cover the restructuring programme. At the same time, the review will assess the potential earnings shortfall and execution risks linked to the transaction, the financial strategy and liquidity profile, as well as the revised corporate strategy and the impact on the group's business profile going forward.

Furthermore, the review will focus on the group's operating performance in light of the revised guidance for the current financial year, which will be negatively impacted by weaker economic activity, adverse price effects and a slowing automotive sector.

The review will mainly focus on additional information and a firmer guidance on the future strategic direction of the group, which Moody's expects to obtain over the next few weeks. Conclusion of the review is therefore not anticipated before tk's next supervisory board meeting on 21 May to approve the strategy realignment proposed by management.

Source : Strategic Research Institute
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Stanbic IBTC and Standard Chartered Bank set to invest in Nigerian steel industry

The National Online Eng reported that Stanbic IBTC and Standard Chartered Bank is set to invest in Nigeria’s steel and solid materials industry. Team leader of the Stanbic IBTC and Standard Chartered Bank team, Mark Buncombe explained that the bank is looking for opportunities to invest in the mining sector. Speaking in Abuja when the team paid the Minister of State for Mines and Steel Development, Hon. Abubakar Bwari a visit, he said that “The main aim of coming is to get a better understanding from the minister on how he sees the mining Industry developing here and the particular products that we should be looking out for as a bank especially iron ore and coal, and the additional opportunities that he will like the banking industry to support in helping to grow the industry.”

Mr Bwari informed the team that Nigeria has about 44 minerals that have been identified like gold, barite, limestone, tin, lithium, pantalite, manganese etc. The Minister also added that Iron ore has been discovered in Katarogo Kaduna State and the nation has attained self sufficiency in cement production which it presently exports.

He added that “This is what we have been looking for to fund the industry in Nigeria, Today, we are trying to find out how much minerals we have of commercial quantity, we presently have a project the integrated exploration project where qe prioritise some minerals like gold, tin etc to ascertain their commercial value so that we can have bankable data that can attract investors. We have about 44 minerals that we have identified like gold, barite, limestone, tin, lithium, pantalite, manganese etc we have prioritised some of these minerals we know can add value to our economy. As of today, Nigeria is self sufficient in cement production because we have these deposits in large quantities and quality and now we are exporting cement, so want to do the same thing in phosphate for agriculture, carbonate minerals so that we can address the issue of the pharmaceuticals, water treatment andvthe rest.”

He added that “We discovered that no country can develop without steel and for long we have been trying to develop our steel sector, we had challenges of which we are trying to address. Today we have the African Natural Resources Industry which is trying to be a pacesetter to what government agenda is, they have discovered Iron Ore in Katarogo Kaduna State, they want to do a lot to process iron ore to feed the plants that they already have, they have about seven in the country and they also want to build a coal plant, so they are taking two main offers at the same time. This is one of the companies that the ministry will prioritize as those to give attention and support.”

Source : The National Online Eng
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ArcelorMittal steel plant in Pt Lisas may reopen - Dr Keith Rowley

Trinidad Express reported that Trinidad Prime Minister Dr Keith Rowley disclosed that there may be a restart of the ArcelorMittal steel plant. Mr Rowley also disclosed that he learnt this after meeting recently with investors. Mr Rowley was speaking at the Parliament sitting during the debate on the mid-year budget review, presented by Finance Minister Colm Imbert earlier in the day. He said that “I can tell you, Madam Speaker, very recently I met with some local investors and others and the union and I am informed by them that they have been selected by the liquidator to restart some operations at the ArcelorMittal plant. It is their intention to restart the plant, they have to pay certain monies to accept the offer and so on and I am very happy to hear that and I hope for them and for Trinidad and Tobago that it works out. I hope that we could restart the business at Point Lisas because more business is good business for all the people of Trinidad and Tobago. But I can’t speak for them because that’s a matter between the liquidator and the private sector investment and interestingly enough the union is on board.”

In wishing them well the PM said the company will get the same support like the last company received.

Earlier this month, a newspaper reported that a joint venture between a local company and a group of Dubai investors had won the bid to buy the ArcelorMittal steel mill in Point Lisas.

In March 2016, ArcelorMittal closed down its steel plant at Point Lisas, after adopting a policy of temporary lay-offs during the last four months. An estimated 644 workers lost their jobs as a direct result of the steel plant’s closure and hundreds more were impacted.

ArcelorMittal, which is headquartered in Luxembourg City, attributed the decision to close the facility to the fall in the world market price of steel and the possible increase in the price of gas and electricity.

The multinational company was formed in 2006 from the takeover and merger of Arcelor by Indian-owned Mittal Steel, which is chaired by Lakshmi Mittal.

Source : Trinidad Express
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Fluence Corp inks contract for seawater desalination plant in Brazil

Fluence Corporation Limited has executed a USD 10 million contract for the design, engineering and construction of a 12,000 m3/day seawater desalination plant for one of the world’s largest steel producers. The plant will be located at the customer’s steel production facility in eastern Brazil. Construction on this Custom Engineered Solution is anticipated to commence in Q2 2019 and is expected to be operational by Q4 2020. Fluence’s desalination solution was selected through an international tender process by the customer to address water security and reduce dependence on the local utility. During water crises over the past several years, the state-owned utility has curtailed water delivery to the customer by up to 30%. The plant will be designed for modular expansion to 24,000 m3/day and 36,000 m3/day and will be the largest desalination plant in Brazil.

Commenting on this award, Fluence Managing Director & CEO Mr Henry Charrabé said that “This project is Fluence’s largest project to date in Brazil and provides another valuable reference site. Brazil is one of our key focus markets, as Fluence enhances its footprint as the leader in global decentralized water and wastewater treatment markets with local expertise. We are pleased that this important repeat international customer is once again placing their faith in Fluence’s team of engineers, and we look forward to continuing to jointly grow the relationship across their global operations.”

Source : Strategic Research Institute
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JNARDDC developed a process to get silica, aluminium fluoride from coal fly ash

Jawaharlal Nehru Aluminium Research Development and Design Centre, Nagpur has developed a process to convert coal fly ash into useful products such as high purity silica and aluminium fluoride at laboratory scale. Pure silica has many uses such as it is utilised in structural materials, microelectronics (as an electrical insulator, semiconductors etc.), and as components in the food and pharmaceutical industries. Whereas major use of aluminium fluoride is in the primary aluminium industries during the production of metal aluminium from alumina. In primary aluminium industries, large quantity of aluminium fluoride is used in smelters during the production of metal aluminium from alumina. Current production of Aluminium in India is about 3.3 million tonnes.

Hence it is estimated that the current demand of aluminium fluoride (42,000 tonnes) for Indian aluminium smelters can be fulfilled by coal fly ash alone. This helps in saving the natural resources, import substitute and proper utilisation of waste.

The study will result in establishing the process for extraction of pure silica and smelter grade aluminium fluoride for aluminium industry and construction sector. The coal fly ash generation in INDIA is about 200 million tonnes per annum containing 30% alumina and 60% silica. Hence it is estimated that the current demand of pure silica required for various applications and aluminium fluoride required for Indian aluminium smelters will be fulfilled by treatment of coal fly ash alone. This helps in saving the natural resources like bauxite and sand and lead to proper utilisation of coal fly ash. The outcome of work based on 10 gm of CFA was interesting and promising which prompted to submit a proposal to Ministry of Mines to setup a bench scale conversion facility.

CFA is one of the solid wastes generated in thermal power plants during the process of power generation. According to 2017 data, world-wide about 25,000 TWh per annum of energy is generated by thermal power plants whereas in India power generation by coal based thermal power plants is about 218 Gwh (approximately 65% of total electricity generated) which is results in 195-200 Million tonnes per annum of CFA generation. India’s commercial energy demand is met through the country’s vast coal reserves and the CFA generating from all coal-based thermal power plants are accumulating over the years which typically contains 27-31% alumina; 56-60% of silica and 9-13% oxides of elements. A team of JNARDDC is working on its parameters, recycling of solvent, environmental sustenance and cost economy of the process under the guidance of institute Director Dr Anupam Agnihotri.

Source : The Hitavada com
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Mutares rondt overname Arcelor-onderdeel af

Gepubliceerd op 3 jun 2019 om 08:09 | Views: 1.306

ArcelorMittal 15:52
13,25 -0,01 (-0,09%)

MÜNCHEN (AFN) - De Duitse investeerder Mutares heeft de overname van het ArcelorMittal-onderdeel TrefilUnion afgerond. Van de deal zijn geen financiële details naar buiten gebracht.

TrefilUnion produceert draden en staalkabels in zijn twee Franse fabrieken. Het assortiment varieert van dunne veerdraad voor de automobielmarkt tot zware specialiteiten voor bruggen en de markt van voorgespannen beton.
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Baowu Steel Takes 51% Stake In Maanshan Iron & Steel

World’s second largest steel producer China Baowu Steel Group will acquire a majority stake in rival Magang Group Holding Co Ltd. Magang’s listed entity, Maanshan Iron & Steel Co Ltd, said Anhui Province's State-owned Assets Supervision and Administration Commission, which owns Magang, will transfer a 51% stake to Baowu. Baowu will also hold 45.54% of the shares of Maanshan Iron & Steel, making it the listed company’s controlling shareholder. The value of the deal is not disclosed. Maanshan said “The Baowu acquisition is an important measure to accelerate the merger and reorganization of overcapacity industries.”

The deal is subject to regulatory approval and must pass an anti-monopoly review.

Baowu ranked as the world’s second-largest crude steel producer in 2017, with 65.39 million tonnes of output while Maanshan Steel ranked 16th, with 19.71 million tonnes of output. Top-ranked ArcelorMittal produced 97.03 million tonnes in 2017.

China has said it wants to put 60% of its national steel capacity in the hands of its top 10 producers by 2020 to boost efficiency.

Source : Strategic Research Institute
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Mr Dharmendra Pradhan Takes Charge As India’s Steel Minister

Mr Dharmendra Pradhan took charge as Union Steel Minister. He was greeted by Minister of State for Steel Mr Faggan Singh Kulaste while assuming office. Secretary Steel Mr Binoy Kumar, SAIL Chairman Mr Anil Kumar Chaudhary and Senior officials of Steel Ministry received the Union Minister. After assuming charge Mr Pradhan was briefed by Secretary Steel regarding the various aspects of the steel sector. Steel Minister said that the steel sector is plays a very important part in the growth of our economy and symbolizes strength of the manufacturing sector. He further said that he will strive to achieve all the goals of the National Steel Policy after understanding the intricacies of the sector.

Mr Faggan Singh Kulaste has been given the post of Minister of State in the Ministry of Steel in the 17th Lok Sabha under Prime Minister Narendra Modi. He represents Mandla constituency of Madhya Pradesh. Educated at Mandla College, Dr Hari Singh Gaur University, Sagar and Rani Durgawati University, Jabalpur (Madhya Pradesh), he received degrees for MA, BEd and LLB.

Source : Strategic Research Institute
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Reinvention of Steel Could Make Car Bodies 30% Lighter - Nippon Steel

Bloomberg reported that Nippon Steel Corp is pushing the envelope in order to stay relevant as the auto industry, its most important customer, goes through major changes. Steel has been the main material in cars since Henry Ford started mass producing them a century ago. But the heavy metal is falling out of favor because automakers can’t meet new fuel efficiency standards or build long-range battery-powered cars without shedding precious pounds. Several years ago, Ford Motor Co decided to build its best-selling F-150 pickup truck mostly out of aluminum and steelmakers have been panicking ever since. That’s why Nippon Steel last April opened a research department to come up with tricks for making car parts lighter, using super-advanced grades of the material it’s been smelting for 118 years. In January, the firm unveiled the results of the new approach: an all-steel car body, built in house, which it says cuts weight by 30%, putting it on par with aluminum.

Nippon Steel’s laboratory research head Mr Nobuhiro Fujita said that “There’s this idea out there that steel is an old-fashioned material, but it’s not true.”

The car body it exhibited at a Tokyo trade fair in January cuts weight by 30% using a half-dozen different grades of the metal. The strongest has a tensile strength of 2,000 mega pascals, which means it can withstand 290,000 pounds of pressure per square inch several times more than the advanced steel commonly used in cars today without breaking. Nippon Steel’s engineers also found ways to redesign components so they could be made with less material. For example, they used a combination of thinner body panels and reinforcement bars to shave 20% off the weight of door modules, without sacrificing strength. The next goal is to prove that high-grade steel can be used to cut the weight of car bodies by half. That may require some compromise, though, since steel can only get so strong or light. To push the limits, Nippon Steel is experimenting by mixing small amounts of plastics with the metal it’s been producing for decades.

For years, cars have actually been gaining weight, not losing it, adding about 400 kg in the last two decades alone, according to automotive consultancy A2Mac1. Beefier beams and pillars for added crash protection and more amenities like power seats have been the main culprits, along with popularity of behemoth pickup trucks and SUVs. Now tighter emissions rules are forcing manufacturers to consider dieting. The pressure will only increase as automakers produce more electric cars because batteries aren’t powerful enough to carry extra weight and still propel cars for long distances. Mr Akihito Fujita, a New York-based consultant at Nomura Research Institute America Inc, said “Over time, this will mean more aluminum, more exotic materials like carbon fiber and magnesium and less steel. By 2025, steel will account for only 62% of the weight of the average new vehicle, down from 70% in 2015. The move away from steel is inevitable.”

Source : Bloomberg
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Curbing Cheap Imports Priority For New Steel Minister - Report

Financial Express reported that arresting the trend of increasing steel imports, addressing the decline in local prices of the alloy and ensuring adequate supply of iron ore and capital for expansion projects are on the top of agenda for the new steel minister Mr Dharmendra Pradhan. JSW Steel’s commercial and marketing director Mr Jayant Acharya said India needs to protect its domestic steel industry, which otherwise would become a dumping ground for excess producing nations such as China, Japan and Korea He stated that steel should be kept out of the purview of regional comprehensive economic partnership which will cede space to China. He said “Steel coming to India are not all special steel; a good chunk of them are commodity grade steel. They are coming at a lower price, unfair price.”

The growing predatory imports, which disrupted the domestic market since 2014-15 for two years has started haunting the industry once again. India became a net importer of steel, after a gap of three years, in 2018-19. In the year 2018-19, India’s steel imports rose by 4.7% to 7.83 million tonne and exports fell by 34% to 6.36 million tonne.

The Indian steel industry has already asked the government to re impose a safeguard duty of 25% in line with such protectionist steps being taken by the US, the EU, Turkey etc.

Source : Financial Express
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