Ontvang nu dagelijks onze kooptips!

Aandeel ArcelorMittal AEX:MT.NL, LU1598757687

Laatste koersSettlement koers (eur) 24,080 21 mei 2024 17:35
Verschil -0,090 (-0,37%) Dagrange 23,970 - 24,170
Volume 2.229.090 Gem. (3M) 2,5M

Nieuws en info hier plaatsen (deel 4)

Volgen

35.173 Posts

Pagina: «« 1 ... 1155 1156 1157 1158 1159 ... 1759 »» | Laatste | Omlaag ↓

voda 3 april 2020 16:02
   voda

Lid sinds: 02 dec 2005

Laatste bezoek: 21 mei 2024

   Aanbevelingen

Ontvangen: 83218

Gegeven: 21063

   Aantal posts: 366.274
Iron ore falls under pressure, 2020 outlooks remain firm

The rating agency Fitch expects iron ore prices to fall in the second half of 2020 as a result of increasing output in Brazil and Australia later in the year, as well as slower economic growth. Its iron ore price assumptions, however, remain unchanged at $75/ tonne cfr China for 62% Fe in 2020 and at $60/t in 2021.

Prices have been resilient so far, with supply disruptions in Brazil and Australia during 2019 lowering inventory levels and Chinese steel production remaining relatively high despite the coronavirus. Over the longer term, iron ore is expected to decline to $55/t, which will squeeze out high-cost producers.

Premium hard coking coal price assumptions also remain unchanged at $140/t fob Australia in 2020 and at $140/t in 2021. Year-to-date prices are supported by supply disruptions in Australia and China, as well as by the Mongolian coal export ban to China. “This is likely to be offset later in 2020 by high steel inventories and the weaker economy,” Fitch says in a note. “Global demand will remain relatively flat in the medium term, while supply growth will come from recently commissioned mines and brownfield expansion, mostly in Australia and Russia.”

Nickel price assumptions for 2020 have been cut to $12,500/t from $14,000/t on lower demand growth and increased nickel inventories. The assumption for 2021 has been cut to $13,500/t from $14,000/t.

“The unchanged medium-to-long-term [... nickel] prices reflect a potential tightness in supply as Indonesian ore exports, now banned by the government, may not be fully replaced by other nickel suppliers, while we expect stronger long-term demand, particularly due to nickel use in batteries for electric vehicles,” Fitch says.

Meanwhile seaborne iron ore prices slipped further on Friday. This came despite lower Chinese port stocks and closures of some mines.

The Kallanish KORE 62% Fe index slipped $0.40/t to $84.66/dry metric ton cfr Qingdao. 80,000 tonnes of Mac fines sold at a floating price. On the Dalian Commodity Exchange May iron ore settled at CNY 660.5/t ($93.12/t), up CNY 0.5/t, while on the Singapore Exchange April 62% Fe futures settled down $0.82/t at $83.09/t. In Tangshan, billet prices gained CNY 10/t to CNY 3,110/t.

Stocks of iron ore at Chinese ports fell 1.57 million t last week to 107.77mt, according to a count by SMM. Stocks were dragged lower by continued restocking by mills. As steel production has recovered in late March, mills have been replacing their mill stocks as they use them, leading to slightly higher portside buying. They are still not buying more than they need however, as they expect prices to fall further. Arrivals to Chinese ports also reportedly fell last week.

Despite continued restocking and lower stocks at ports, iron ore is under pressure from the gloomy global economic outlook. In China, markets are recovering, but only slowly.

Bron Kallanish.com

0
”
Quote Reageren

Niet oké
voda 3 april 2020 16:04
   voda

Lid sinds: 02 dec 2005

Laatste bezoek: 21 mei 2024

   Aanbevelingen

Ontvangen: 83218

Gegeven: 21063

   Aantal posts: 366.274
Chinese sentiment slumps on global concerns

Chinese domestic steel prices fell last week despite a decline in inventories. Sentiment was sapped by the worsening global situation, as the coronavirus forces the reduction of economic activity across Europe, the USA and elsewhere. Export prices meanwhile have also reduced as international demand has weakened and Chinese mills struggled to compete with offers from India. Iron ore prices meanwhile have also declined as steel output is being cut back globally.

In Shanghai on Friday afternoon, 20mm HRB400 rebar was trading at CNY 3,3703,390/tonne ($475-478/t), down CNY 80/t from the previous week. Last week, Shanghai experienced intermittent rainy days, and spot market demand once again retreated. Speculative demand has moved away from trading, and only construction sites are still supporting demand in the spot market. The reduction of production at blast furnace steel mills was not as strong as expected, while electric arc furnace steel mills began to resume production, adding pressure to the supply side. The decline in rebar inventory is also slower this week. Market traders believe that rebar prices will fluctuate in the short term.

5.5x1,500mm Q235 HRC was meanwhile traded at around CNY 3,330-3,360/t, CNY 110/t lower from the previous Friday. Traders began to feel less confident about price increases than they did the previous week. Offers were cut again by CNY 20/t on Friday afternoon. However, trading was becoming more active in Shanghai and inventories have fallen, although very slowly. Some traders no longer expect strong prices in the first half of 2020. Most are focussed on reducing the cost of sustaining inventories and so are selling at a loss. They do not expect a change in sentiment until there is a breakthrough in dealing with the coronavirus.

On export markets, although Chinese mills' and traders' offers have been slumping through the week, down by over CNY 20/t in total, international prices remain lower that the bottom line for Chinese offers. Few deals were heard from Chinese traders. Indian material remained the most competitive as its domestic market demand was hit by a lockdown which forced many international companies to close down factories there. Some Chinese traders have considered importing HRC from India, but due to market volatility, they have so far not booked. In China, a Northern mill offered SS400 at $ 420/t fob. For SAE 1006, some traders have offered lower at $425/t cfr Vietnam. However, these levels are far above traded prices in Vietnam. Kallanish assessed 2mm SAE1006 HRC at $400-410/t fob, $39/t lower over the week.

China's wire rod export market has remained quiet last week, and the disappearance of buying demand also led sellers to start lowering offers. Prices of Chinese alloyadded wire rod dropped significantly. After strong prices in the past two months, a major steel mill in eastern China cut its wire rod export prices by $20/t. Wire rod offers from steel mills in northern China also saw a slight reduction of $5/t last week. Most offers for alloy-added wire rod in China were at around $455-460/t fob China. Prices of non-alloy wire rod in Tangshan were flat at $445/t fob China. Traders expressed a willingness to offer discounts. In fact, the closure of some Southeast Asian markets and the cessation of shipping have shut down all business however. A trader in Tangshan said giving offers was futile without an enquiry from a customer. With Covid-19's impact growing in foreign markets, Chinese exporters have a negative outlook on the market. 6.5mm diameter mesh grade wire rod was assessed at $440-442/t fob China, down $1.5/t week-on-week.

Iron ore prices too were weak. The Kallanish KORE 62% Fe index slipped $0.40/t to $84.66/dry metric ton cfr Qingdao last Friday, down $3.70/t over the week. Stocks of iron ore at Chinese ports fell 1.57 million tonnes last week to 107.77mt, according to a count by SMM. Stocks were dragged lower by continued restocking by mills. As steel production has recovered in late March, mills have been replacing their mill stocks as they use them, leading to slightly higher portside buying. They are still not buying more than they need however, as they expect prices to fall further. Arrivals to Chinese ports also reportedly fell last week. Despite continued restocking and lower stocks at ports, iron ore is under pressure from the gloomy global economic outlook. In China, markets are recovering, but only slowly. Outside China, downstream steel consumers and steel producers are reducing output in a number of core regions, including Europe, much of Asia and the Americas. This is likely to offset a modest recovery in demand in China in the near term.

bron: Kallanish

0
”
Quote Reageren

Niet oké
voda 3 april 2020 16:05
   voda

Lid sinds: 02 dec 2005

Laatste bezoek: 21 mei 2024

   Aanbevelingen

Ontvangen: 83218

Gegeven: 21063

   Aantal posts: 366.274
In the news this week:

RAW MATERIALS East Asian scrap prices sink Scrap prices are falling in East Asia in tandem with negative market sentiment for steel and deteriorating demand for scrap. Many countries in the region are grappling with a slowdown in economic activity resulting from government-enforced partial or full lockdowns to stem the coronavirus spread. Containerised HMS 80:20 from the USA is currently offered at $320/tonne cfr Indonesia, a trader says. This is “… easily” $20/t lower from early March. A Jakarta scrap importer told Kallanish that he has no interest to book now. "The local steel market is very quiet because of Covid-19," he says.

LONGS Covid-19 curbs paralyse Southeast Asian long markets Rebar and wire rod trade has almost stopped this week in Southeast Asia despite a slide in offer prices. Business activity has either slowed down or stopped altogether amid government-imposed curbs to contain Covid-19. In Singapore, Turkish rebar is heard offered by traders at lows of $430/tonne cfr theoretical-weight basis. Despite the low price-tag, “…no-one is buying anything, everything is slow,” a Singapore trader says. A Turkish rebar order heard last week took place at $445/t cfr Singapore.

LONGS China picks up cheaper billet China continues to import billet, Kallanish notes. With many markets in Southeast Asia closed or slowing down due to measures to deter Covid-19 infection, billet import prices are sliding. Chinese buyers are able to secure lower prices because the main regional billet importers in the Philippines and Thailand are absent. Offers for Russian billet are prevailing at $370/tonne cfr China, down $10/t on-week, most trading sources report. However, some report that traders are offering Ukrainian billet at below this level. They heard that 40,000 tonnes of Ukrainian billet for May shipment was booked by a trader at $360/t cfr China. Other offers are prevailing at $367370/t cfr China, a Hong Kong trader says. A Chinese trader says that a deal at $360/t cfr China is possible as the last booking concluded at $370/t cfr China.

CORPORATE Some Indian mills continue output despite lockdown India?s major steel producers have reacted to varying degrees to the three-week nationwide lockdown imposed by the central government from 25 March. JSW Steel says it has either scaled down or suspended manufacturing operations across its units, meaning “… capacity utilisation is expected to go down significantly during this period of lockdown.” The steelmaker is doing this to support measures to contain the spread of Covid19 and despite steel being on a list of essential commodities exempt from the lockdown. The firm?s spokesman did not specify the degree of production cuts. The firm, however, says “…the overall adverse impact on the operations of the company during the period of this lockdown… and the expected financial impact is not ascertainable at this stage.”

Bron: Kallanish.com

0
”
Quote Reageren

Niet oké
voda 3 april 2020 16:06
   voda

Lid sinds: 02 dec 2005

Laatste bezoek: 21 mei 2024

   Aanbevelingen

Ontvangen: 83218

Gegeven: 21063

   Aantal posts: 366.274
European scrap prices fall, swift recovery expected postCovid-19

Finished steel prices in Europe are holding more or less, thanks to the rapid closure of a number of producers due to the coronavirus spread. Scrap values nevertheless are starting to come under increasing pressure.

Germany?s monthly average ferrous scrap prices were still minimally up from February?s by mid-March, by when most contracts were negotiated. However, going forward, some market commentators expect they will be caught by the full impact of the international downtrend.

According to one observer, mills are not coming up with any price bids yet, possibly due to speculation that they can benefit from volumes diverted in the deepsea market. This would naturally mean price pressure being applied on Germany's domestic scrap yards.

One south-western German merchant claims that price reductions of as much as €50/tonne ($55/t) have been heard. “That?s pretty much what I would say,” the merchant says.

And there is another problem looming in the distance. “If Turkish mills cancel existing orders it will get really bad,” he says. Many German scrap collectors have already closed operations as their yards are full and are not being cleared.

According to the monthly statistics from German recyclers? federation BDSV, most grades in March gained €2-3/t on average, with old heavy scrap type 3 reaching €215 -218/t, and light scrap type 1 around €197199/t. Grade 2/8 new scrap gained €7-8/t, reaching €216-219/t.

Prices are also under pressure in Italy but the issue of low availability is also looming. Italian scrap availability is depleting as new scrap is not being generated due to the slowdown in economic activity.

“There is no market at the moment, and we don?t even discuss prices anymore,” a merchant comments. Until the beginning of this week, however, scrap merchants delivered material to producers who had already idled their plants but were stocking up on scrap for when activity resumes.

While some sources are still buying this week, others have stopped stocking up scrap because of lack of liquidity. This month?s very few transactions have indicated a €20/t ($21/t) decline in domestic scrap. However, “…when the sector restarts there will be a rush to buy and the low availability will push prices up again,” another source says.

Prices in Italy remain stable on last week as activity has come to a complete halt. This week, shredded grade E40 is €225230/t delivered, while prices before the lockdown were €245-250/t delivered. E8 mixed grade is at €230-240/t delivered, with €250/t being paid for the higher grade. Demolition grade E1 is at €220230/t delivered and E3 is at €205-210/t, sources say.

In Spain, scrap prices have sunk by more than €30/t ($32.4/t) on-week. The domestic market is seeing unprecedent with a lack of demand and near-halted sales activity of raw materials.

“Large mills are reducing their production, while some have even already halted their operations. This situation, especially after most of automakers in Spain implemented temporary shutdowns, has hit the scrap market. The scenario should last for some time,” a source says.

"The current lack of demand and the inactivity of the industry will continue at least until the end of Easter in April. So, it will be very difficult for the market to recover before mid-May,” one source says. “Once we have more visibility on the resumption of Spanish steel production and the rest of the markets in the European Union, scrap demand and prices will sharply jump and probably will surpass the levels seen before the coronavirus pandemic in Europe,” he adds.

E8 quality scrap in the domestic Spanish market is offered at €215/t delivered. Demolition quality grade E3 is at €200205/t delivered, while grade E40 is at €210/t delivered. Type E1 scrap is priced at €185-190/t on the same basis.

Bron: Kallanish.com

0
”
Quote Reageren

Niet oké
voda 3 april 2020 16:08
   voda

Lid sinds: 02 dec 2005

Laatste bezoek: 21 mei 2024

   Aanbevelingen

Ontvangen: 83218

Gegeven: 21063

   Aantal posts: 366.274
In the news this week:

CORPORATE Some Italian steelmakers to continue production despite decree The Italian government is closing all „non-essential activities? from 23 March until 3 April. The country?s industrial association Confindustria however is negotiating with authorities to keep some companies up and running. This is to guarantee a reduced level of activity to limit the impact of the country?s economic slump and liquidity crisis. Some steelmakers, notably Arvedi and ArcelorMittal Italia, are continuing to produce. In a letter to the government seen by Kallanish, Confindustria president Vincenzo Boccia is asking for an exception to the revised closure decree for “… sectors that cannot be interrupted for technical reasons, for example those with continuous casting equipment.” Boccia has also stressed in the letter the importance of the continuity of production and maintenance activities. He has asked prime minister Giuseppe Conte to immediately address the issue of lack of liquidity “… to prevent irreversible consequences” for Italian companies.

CORPORATE French steel distribution system halts despite strong demand French steel service centres and distributors have completely halted their activities for the second week since the announcement of the country?s lockdown last week. While service centres and distributors in Italy have maintained minimum activity since the outbreak of the coronavirus, “… France is the quietest country in Europe”, says an Italian seller of plate into France. “Our clients have stopped buying and selling. There is no demand at the moment and no prices, and we?ve implemented temporary layoffs. However, our order books are filled but we cannot deliver material”, a local distributor tells.

FLATS NW Europe coil products sport long lead times Buyers of coil products in north-western Europe tell that lead times are already long, and already stretching until the end of the second quarter. That picture may be altered by the evolving coronavirus issue, but its projected influence cannot easily be assessed. The high degree of utilisation at the mills was preceded by what one service centre manager calls a “… historic low in inventories” at the end of 2019. Earlier this year, all service centres had restocked with some urgency, “… so that temporarily we were facing lead times of four weeks. – I have never seen that,” he tells. The second quarter appears to be practically sold out so, “… you won?t get anything before July, and that applies to all coil categories,” he says. Other sources largely agree, although maybe to a different extent. Some say it is a question of price if volumes are required urgently. This would explain the price spread, they suggest.

FLATS NLMK EU stops only Verona production for now Russia?s NLMK confirms it is only stopping production at its heavy plate plant in Verona, while its other European assets will continue to operate for the time being. NLMK Verona can produce up to 450,000 tonnes/year of heavy plate. The mill is stopping for at least two weeks, in line with requirements from the Italian government. NLMK also produces plate in Europe at its plants in Denmark and Belgium. The group also has a strip rolling plant in Belgium and France.

Bron: Kallanish.com

0
”
Quote Reageren

Niet oké
voda 3 april 2020 16:23
   voda

Lid sinds: 02 dec 2005

Laatste bezoek: 21 mei 2024

   Aanbevelingen

Ontvangen: 83218

Gegeven: 21063

   Aantal posts: 366.274
Turkish scrap drops, only China buys CIS billet

Turkish faced very weak demand in both domestic and export markets last week. They did not manage to sell more rebar to Asia. Nevertheless, they remained in the Asian market with rebar offers at $430/tonne cfr Singapore theoretical weight.

As a result of low global rebar demand and decreasing scrap prices, Turkish rebar producers decreased rebar quotes from $420/t fob the week prior to $400-410/t fob actual weight. However, they were flexible on pricing if they could find demand.

Turkish mills' demand was weak for both domestic and imported scrap. Offers for deep-sea and short-sea scrap stood at $225-230/t cfr and $205-215/t cfr Turkey respectively, but Turkish mills showed no interest. Demand for finished steel came to a halt in the domestic and export markets. Mills were therefore not rushing to buy scrap, with further production cuts possible in the near term.

Turkish hot rolled coil export trade remained idle despite some producers reducing their offers considerably. With Turkey's main HRC export markets placed on lockdown due to the Covid-19 outbreak and international logistical restrictions intensifying, Turkish mills were in wait-and-see mode with regard to sales. Mills reported that buyers were pressuring them to deliver booked volumes earlier than agreed.

The week started with offer indications from two Turkish mills to southern Europe and North Africa at $440-460/t fob for May production, but there were no buyers, apart from traders. Their bids at $410-420/t fob were not accepted then, but the fast descent of prices throughout the week could change mills' minds.

Various Turkish steel mills announced production halts following their counterparts in the EU and other regions as the global coronavirus pandemic continued to rage. These included Ekinciler, Siddik Kardesler, Cebitas and Ege Celik. Almost all other Turkish steel producers reduced shifts and lowered their capacity utilisation rates.

Turkish mills' production cuts and decreasing capacity utilisation rates are expected to reduce long steel output in Turkey and therefore also Turkey's scrap purchases.

In the CIS, hot rolled coil trade halted last week, as more countries implemented lockdowns as the result of the Covid-19 spread. Moreover, disappearing demand depressed prices. There were no official offers coming from mills, which were anyway largely sold out of April-rolling material. Instead, mills were asking for firm bids, but these were not forthcoming as uncertainty over anti-virus restrictions in various countries and the extent of the outbreak was “… off the scale,” according to traders.

Some traders placed bids at as low as $390-400/t fob Black Sea for end-May-loading material. These were, however, countered with indications of possible acceptance at $410-420/t fob by at least one mill.

CIS billet exporters reduced indicative offers to $350/t fob Black Sea last week, but this failed to ignite buying interest. China became the only place where CIS billet can be sold, and prices were decreasing there. One large lot of Russian billet was sold to China at $384/t cfr, but Chinese buyers' bids thereafter declined to $360-365/t cfr.

bron: Kallanish.com

0
”
Quote Reageren

Niet oké
voda 3 april 2020 16:27
   voda

Lid sinds: 02 dec 2005

Laatste bezoek: 21 mei 2024

   Aanbevelingen

Ontvangen: 83218

Gegeven: 21063

   Aantal posts: 366.274
China's 'new infrastructure' investment to support steel consumption

China's „new infrastructure? investment is an increasingly important focus of policy relative to that made in traditional infrastructure. Steel demand is still being supported by construction plans for 2020-2025 however.

The concept of „new infrastructure? has attracted even more focus in March 2020. During the coronavirus shut down, the advantages of having a highly-connected economy capable of flexible working, as well as online consumption, were clear. According to the key project investment released from provincial governments, the new funds invested in „new infrastructure? in 2019 exceeded CNY 40 trillion ($5.66 trillion) which is equivalent to 40% of Chinese GDP in 2019.

„New infrastructure? is mainly infrastructure in support of new technology and communications, driven by the digital, IT and transport sectors. It covers the construction of high-speed intercity railways, ultra-high voltage (UHV) transmission lines, charging stations for new-energy autos, 5G base stations, big data centres, and industrial internet and artificial intelligence upgrades. These are presented in order of steel consumption from high to low.

Unlike most traditional infrastructure investment, which mainly consumed rebar and steel sections, „New infrastructure? will consume more hot and cold rolled sheet and coil and galvanized products, as well as high value electrical steels. This is due to the focus on manufactured installations and electrical components.

In 2020, China plans to invest CNY 800 billion in railway construction, commissioning 4,000 kilometres of new lines. In 2019, the direct investment in railways reached CNY 751.1 billion, operating a railway system covering 35,000km. It is estimated this could create 26.64 million tonnes of steel consumption mainly for building and rail materials. This stalwart of traditional infrastructure is rebranding itself as a hi-tech sector as policy itself shifts focus.

Seven UHV transmission lines have meanwhile been approved by the State Grid Corporation of China for 2020, pushing up demand for electrical steel for transformers and steel angles for pylons. In 2019, the consumption of electrical steel rose by 6.6% year-on-year to 9.79mt. The policy of developing UHV lines will see continued investment. Electrical steel demand could increase by 646,000t to top 10 million tonnes/year in 2020 for the first time. According to the new-energy automotive industry development plan, China aims to build 3.78 million charging stations in 2020. This year steel consumption, including mainly plates and sections, could reach 1.89mt, 1.59mt more than in 2019.

For 5G base stations, the China Academy of Information and Communications Technology (CAICT) estimates investment will accumulate to CNY 1.2 trillion by 2025. In 2020, CNY 90.2 billion is expected to be invested in 5G telecoms infrastructure. CAICT anticipates that as much as CNY 50 billion worth of steel could be purchased as part of the total 5G investment by 2025. In total this could consume around 762,000t of steel sheet.

These sectors of investment could consume 4.34mt more steel in 2020 than in 2019, according to investment plans. The other areas of construction, for big data centres, industrial internet and AI, will consume less steel.

The coronavirus has only stimulated new infrastructure demand as reliance on the internet for work, education and entertainment became clear. The role of big data, online sharing of data and algorithms to trigger policy responses also all fed into the focus on new infrastructure.

The focus to new kinds of infrastructure will also help to reduce China?s problem with over-investment in the short term. These investments are expected to have a higher usefulness than endless investment in old infrastructure that is underused. As the government increasingly focuses on these areas however, the same problems are likely to return. Investment could go too fast and too far, leading to the same problems of overcapacity and value destroying investments.

Bron: Kallanish.com

0
”
Quote Reageren

Niet oké
voda 3 april 2020 16:39
   voda

Lid sinds: 02 dec 2005

Laatste bezoek: 21 mei 2024

   Aanbevelingen

Ontvangen: 83218

Gegeven: 21063

   Aantal posts: 366.274
Tata Steel Update on COVID-19 Outbreak

As the novel Coronavirus COVID-19 outbreak continues to spread rapidly across the world, Tata Steel said “In line with the increased action taken by national governments to contain the spread of COVID-19, Tata Steel will be reducing operations at some sites. We have already stepped up measures to reduce risk to our employees across all our sites as well as the communities around. Strict travel restrictions have been implemented and majority of our employees have been asked to work from home. Additional resources are being put in place to increase hygiene standards at all locations and enforce strict social distancing norms for employees and other stakeholders who have to attend to essential activity at workplace. These are unprecedented times and the situation on the ground is evolving very rapidly and we are working closely with customers and suppliers and various Government agencies to mitigate these impacts as far as possible. We are monitoring the situation closely and stand ready to review these decisions based on the developments on the ground.”

India - Based on the specific guidance and approvals received from the relevant District Administration, the company’s mining operations have been operating normally but the integrated steel facilities in Jamshedpur, Kalinganagar Angul (Tata Steel BSL) and Gamahria (Tata Steel Long Products) have started reducing production levels and operations in the downstream facilities have been suspended and put on care and maintenance mode. In view of the restrictions in the despatch of finished goods and poor market conditions due to the shutdown of customer operations in automotive, construction and other segments, shipments to customers have been curtailed. The company is focused on conserving cash and liquidity and are reducing the cost base to align with the operating and market situation with strong focus on working capital management. All payments to MSME vendors and contract workers are being done on due dates.

Europe - Tata Steel Europe is cooperating with national guidelines of the relevant countries and has updated measures to reduce risk to employees across all sites. We are committed to continue to supply steel products vital for society, including for food packaging, where demand has increased for canned food. However, overall European steel demand has sharply reduced compared to the normal conditions and many of our customers have paused production, including European car manufacturers. Tata Steel Europe has therefore reduced production at some of the European mills to match this lower demand. The business is focused on preserving cash and liquidity to tide over the challenging period. Tata Steel Europe is currently operating all four blast furnaces at a reduced level across the two steelmaking hubs – in Ijmuiden in the Netherlands, and Port Talbot, Wales and despatches to customers is currently continuing at the revised levels. The situation is under continuous review and the management is prepared to take swift actions depending on the trading conditions.

Source : Strategic Research Institute

0
”
Quote Reageren

Niet oké
voda 3 april 2020 16:40
   voda

Lid sinds: 02 dec 2005

Laatste bezoek: 21 mei 2024

   Aanbevelingen

Ontvangen: 83218

Gegeven: 21063

   Aantal posts: 366.274
SAIL Bhilai Steel Plant Registers 30% Growth in Prime Rails Production in 2019-20

SAIL Bhilai Steel Plant has recorded a remarkable growth of 42% in production of prime 260 metre long rail panels in 2019-20 over 2018-19. Cumulative production of UTS 90 prime rails from the new state-of-the-art Universal Rail Mill in 2019-20 has been 5.38 lakh tonnes, clocking a whopping 46% growth over production of 3.69 lakh tonnes by URM in 2018-19. Cumulative production of UTS 90 prime rails from Rail & Structural Mill in 2019-20 has been 7.47 lakh tonnes, registering an astounding growth of 21% over production of 6.16 lakh tonnes by RSM over CPLY. SAIL- Bhilai Steel Plant ended the fiscal 2019-20 with a cumulative production of 12.85 lakh tonnes of UTS 90 prime rails, thereby registering an impressive growth of 30% over the volume of prime UTS 90 rails produced over CPLY. In 2018-19, the Plant had produced 9.85 lakh tonnes of UTS 90 prime rails.

SAIL Chairman Mr Anil Kumar Chaudhary said "SAIL is committed to fulfil the requirements of Indian Railways. SAIL and Indian Railways share a synergy of more than sixty years which have been moving India swiftly on railways. We are continuously ramping up our production of rails, especially the long rails to cater to the requirements of Indian Railways."

260 metre rail panels provide significant advantage of lesser number of welded joints in the tracks thereby improving safety and increasing speed.

Source : Strategic Research Institute

0
”
Quote Reageren

Niet oké
voda 3 april 2020 16:40
   voda

Lid sinds: 02 dec 2005

Laatste bezoek: 21 mei 2024

   Aanbevelingen

Ontvangen: 83218

Gegeven: 21063

   Aantal posts: 366.274
RINL VSP Reports Lower Sales in 2019-20

TOI reported that state owned Rashtriya Ispat Nigam Ltd has closed FY 2019-20 with a 24% decline in sales compared to the previous year As it recorded revenue of INR 15,800 crore in 2019-20, compared to the INR 20,839 crore in 2018-19.

RINL had started the last financial year with optimism, setting a sales target of NR 25,000 crore.

Source : TOI

0
”
Quote Reageren

Niet oké
voda 3 april 2020 16:45
   voda

Lid sinds: 02 dec 2005

Laatste bezoek: 21 mei 2024

   Aanbevelingen

Ontvangen: 83218

Gegeven: 21063

   Aantal posts: 366.274
Vale Sees Downside in Iron Ore Prices

In a briefing with analysts Vale CFO Mr Luciano Siani Pires said that weak demand from steel mills outside China would offset supply disruptions in the rest of the world, potentially denting prices, which have been remarkably resilient this year. Mr Siani told analysts that “Iron ore prices had held up in the first quarter of the year because of a combination of lower production from Australia and Brazil and falling supply from domestic mines in China, which is starting to normalise. Price-supportive supply problems persist, because of lockdowns to prevent the spread of the virus in mining locations. But this is now being offset by lower demand in Europe, South Korea, Japan and the US.”

According to Vale, in Europe, almost 15 million tonnes of steelmaking capacity has been idled, US has cut 5 million tonnes of capacity, while Japan has cut 3.3 million tonnes.

Analysts are also growing increasingly concerned about slowing demand in Europe and also China. RBC Capital Markets analyst Tyler Broda said “Demand in China appears to be returning; the main concern is now on Europe, Japan and Korea where the demand destruction is significant, blast furnace closures are occurring and some material is being resold. They expect prices to come under pressure with demand destruction outweighing supply cuts.”

Source : Strategic Research Institute

0
”
Quote Reageren

Niet oké
voda 3 april 2020 16:46
   voda

Lid sinds: 02 dec 2005

Laatste bezoek: 21 mei 2024

   Aanbevelingen

Ontvangen: 83218

Gegeven: 21063

   Aantal posts: 366.274
Court Dismisses ArcelorMittal USA Arbitration Award Case against Essar

PTI reported that a UK court has refused to issue a worldwide freezing order against the parent company of Essar Steel Ltd and members of promoter family Mr Ravi Ruia and Mr Prashant Ruia. High Court Judge Andrew Henshaw found no merit in the case being brought by ArcelorMittal to enforce a worldwide freeze on Essar assets to protect them from dissipation while the former pursues parallel legal remedies. London High Court said there was no ground to order a global freeze on the Ruia and Essar assets because the petitioners had failed to prove the Essar Group engaged in any transactions to defeat an earlier arbitration order. The order came as steelmaker ArcelorMittal looked to enforce a USD 1.5 billion arbitral award stemming from a soured supply agreement.

Essar spokesperson welcomed the decision saying the firm has "consistently argued that the underlying claims of wrongdoing and therefore the applications for the freezing orders were and continue to be ill-conceived and without any factual support. He said "We feel vindicated that the English Court has determined in this regard that ArcelorMittal USA LLC has no good arguable case to bring before the Court. This Judgement has also vindicated Essar and its founders from any wrongdoing with regard to historic legitimate business transactions that AMUSA had previously sought to mischaracterize to its advantage in both the English and Cayman Courts.”

ArcelorMittal in a statement said "This is a complex dispute relating to alleged conspiracies to harm ArcelorMittal USA. The recent judgment is subject to appeal and is in any event ancillary to the main conspiracy claim against members of the Ruia family and Essar Group''s parent company, amongst others."

Source : Strategic Research Institute

0
”
Quote Reageren

Niet oké
voda 3 april 2020 16:51
   voda

Lid sinds: 02 dec 2005

Laatste bezoek: 21 mei 2024

   Aanbevelingen

Ontvangen: 83218

Gegeven: 21063

   Aantal posts: 366.274
Spanish Steel Industry Finally Confirmed as Essential

Spanish distributors’ association Unión de Almacenistas de hierros de España UAHE said that Spain's Ministry of Industry, Trade & Tourism has finally confirmed the steel industry is considered essential and can continue operating, albeit at a slower pace

The Spanish government issued a royal decree on March 29, ordering the shutdown of all non-essential activities and businesses from March 30, with a restart scheduled for April 10.

Source : Strategic Research Institute

0
”
Quote Reageren

Niet oké
voda 3 april 2020 16:52
   voda

Lid sinds: 02 dec 2005

Laatste bezoek: 21 mei 2024

   Aanbevelingen

Ontvangen: 83218

Gegeven: 21063

   Aantal posts: 366.274
Nucor & Area Schools Combining To 3-D Print Face Masks

Schools in the Norfolk area are teaming up with Nucor to produce uniquely created face masks for health care providers. Two years ago, Nucor and school districts in Madison, Norfolk, Stanton, Battle Creek, and Pierce utilized grant money from the state to purchase 3-D printers. Those printers are now hard at work producing face masks to supply to Faith Regional Health Services in Norfolk. Nucor Trainer David Decarolis said "When we saw some news articles about other locations using 3-D printing technology to help their local health providers with shortages in PPE, we talked about bringing all of our 3-D printers together in one location to create this lab.We reached out to Faith Regional to see if they had a shortage, and they said that we could help them with face mask protection. The project came together earlier this week, and the printers were all brought together to the Nucor Detailing Center to produce as many masks as possible for Faith Regional. Collectively, the five school districts and Nucor have 13 3-D printers, and they're all in this room at the same time. The 3-D printed components of each mask take approximately two hours to fabricate, so if you multiply that by 13, throughout a day we're hoping to produce at least 100."

Word of the collaboration has started to spread across Nebraska, as during his Friday press conference Governor Pete Ricketts highlighted the work being done between the schools and Nucor. Gov ernor Ricketts said "This is a great example of local people stepping up, meeting the challenge, doing the right thing, and figuring out how to solve problems, this is how we're going to beat this virus.”

Source : Strategic Research Institute

0
”
Quote Reageren

Niet oké
voda 3 april 2020 16:52
   voda

Lid sinds: 02 dec 2005

Laatste bezoek: 21 mei 2024

   Aanbevelingen

Ontvangen: 83218

Gegeven: 21063

   Aantal posts: 366.274
AK Steel to idle Mansfield Stainless Steel Mill

Argus reported that AK Steel will idle its electric arc furnace flat-rolled stainless steel mill in Mansfield in Ohio on 4 April, the latest casualty of coronavirus-related auto industry shutdowns. Cleveland-Cliffs told Argus that Mansfield operations will conform with the needs of our automotive customers.

The mill operates two EAFs and a thin slab continuous caster along with a hot rolling mill to produce ferritic (400 series) and martenistic grades of stainless steel commonly used in automotive applications.

The Mansfield mill's slab caster has a production capacity of 751,000 short tons (st)/yr, while its hot strip mill has a capacity of 551,000 st/yr, according to data from the Association for Iron and Steel Technology.

Source : Argus

0
”
Quote Reageren

Niet oké
voda 3 april 2020 16:53
   voda

Lid sinds: 02 dec 2005

Laatste bezoek: 21 mei 2024

   Aanbevelingen

Ontvangen: 83218

Gegeven: 21063

   Aantal posts: 366.274
Standard & Poor’s Global Ratings revises MMK outlook to stable

PJSC Magnitogorsk Iron & Steel Works announced that Standard & Poor’s Global Ratings has revised MMK outlook from positive to stable and affirmed the rating at 'BBB-'. The outlook revision reflects uncertainties about near-term economic prospects, demand/supply and pricing for steel and raw materials, potential protection measures, and supply chain disruptions in the international steel markets. It also reflects that the S&P revised expectation that GDP will contract in Russia by 0.9%, from 1.8% growth previously, which, coupled with COVID-19 spread prevention measures, would result in a reduction in steel demand. The stable outlook balances MMK's currently very significant financial cushion with the S&P expectation of bottom-of-the-cycle conditions for the steel market in 2020 and risks related to COVID-19.

S&P said "We don’t expect MMK’s leverage to become meaningful in 2020, as the company’s debt was below its cash balances at the beginning of 2020. We therefore anticipate MMK’s FFO to debt to be much higher than 60% in the coming years, including 2020."

Source : Strategic Research Institute

0
”
Quote Reageren

Niet oké
voda 3 april 2020 17:04
   voda

Lid sinds: 02 dec 2005

Laatste bezoek: 21 mei 2024

   Aanbevelingen

Ontvangen: 83218

Gegeven: 21063

   Aantal posts: 366.274
Steel Industry Groups Urge Congress to Include Infrastructure in Next Stimulus Bill

Five major steel industry groups strongly urged Congress to include significant infrastructure investment in the next phase of COVID-19 stimulus legislation to provide a clear path toward our nation’s recovery. The group said in a letter to House Speaker Nancy Pelosi, House Republican Leader Kevin McCarthy, Senate Majority Leader Mitch McConnell and Senate Democratic Leader Charles Schumer “American businesses will not likely feel the full economic impact of COVID-19 until later this year, as social distancing and shelter-in-place measures undoubtedly save lives but continue to slow economic activity in the manufacturing and construction sectors. Making a long-term and robust infrastructure investment now will not only respond to the urgent transportation system needs that are well known, but it also will create high paying jobs allowing businesses and families to recover from this extremely difficult economic shock.”

They wrote “With such a staggering backlog of substandard bridges, there is significant opportunity to put Americans back to work and back on the road to economic recovery,” they wrote. “We can…improve quality of life in our cities, towns and rural areas and drive commerce and supplies across our nation by making infrastructure investment a critical component of the next stimulus package by including Buy America provisions and using domestically produced and fabricated steel.”

The groups concluded that the infrastructure supply chain for steel products used in highway and bridge construction “starts with American steel producers, who have revolutionized the industry by developing clean and efficient steelmaking processes at mills located strategically throughout the country,” noting that steel is sold directly or through national distributors to construction companies and to approximately 1,000 American steel fabricators who have built plants, and created jobs, in virtually every congressional district in America.

The letter, written by the American Institute of Steel Construction (AISC), American Iron and Steel Institute (AISI), Steel Manufacturers Association (SMA), The Committee on Pipe and Tube Imports (CPTI), and Specialty Steel Industry of North America (SSINA), reiterated that 38% of America’s 616,000 bridges are in need of replacement or rehabilitation, according to the Federal Highway Administration’s National Bridge Inventory.

Source : Strategic Research Institute

0
”
Quote Reageren

Niet oké
voda 3 april 2020 17:05
   voda

Lid sinds: 02 dec 2005

Laatste bezoek: 21 mei 2024

   Aanbevelingen

Ontvangen: 83218

Gegeven: 21063

   Aantal posts: 366.274
National Steel Car to Suspend Operations

Canadian National Steel Car announced that they will be suspending all operations this week, affecting hundreds of workers in Hamilton. It announced that they will begin a systematic, orderly, suspension of operations with the cessation of fabrication and construction at the end of shifts on Friday, April 3, 2020 and all finishing and shipping operations will cease on or before April 17, 2020.”

The closure and layoffs come as the government calls for all Personal Protective Equipment to be handed over to first responders and health-care workers who are battling COVID-19. It said “Because of these Governmental directives, we are unable to provide the PPE necessary for the safety of our employees working in our manufacturing operations.”

National Steel Car says things will get up and running again when they’re able to secure enough PPE to ensure the safety of their employees.

National Steel Car is the largest manufacturer of rolling stock in Canada, based in Hamilton, Ontario. The company was founded in 1912, and has been a top 3 rolling stock manufacturer in Canada. The company employs approximately 2,000 people.

Source : Strategic Research Institute

0
”
Quote Reageren

Niet oké
voda 3 april 2020 17:06
   voda

Lid sinds: 02 dec 2005

Laatste bezoek: 21 mei 2024

   Aanbevelingen

Ontvangen: 83218

Gegeven: 21063

   Aantal posts: 366.274
Thyssenkrupp to Cuts Steel Output as Coronavirus Crisis Hits Demand

Reuters reported that Germany’s largest steelmaker Thyssenkrupp is cutting steel output and staff will work shortened hours as the coronavirus crisis is hitting the steel sector. Thyssenkrupp spokesman said “In light of the economic impact as a result of the corona crisis we are adjusting our production chain. This includes blast furnaces as well as processing.”

He said further production cuts were possible, not providing specific numbers. Staff working in production and administration will work reduced hours, the spokesman said, adding that process would start in mid-April and take until early May.

Source : Reuters

0
”
Quote Reageren

Niet oké
voda 3 april 2020 17:06
   voda

Lid sinds: 02 dec 2005

Laatste bezoek: 21 mei 2024

   Aanbevelingen

Ontvangen: 83218

Gegeven: 21063

   Aantal posts: 366.274
Indian Goverment Relaxes Steel Import Monitoring System

The Hindu Business Line reported that taking into account the delay in imports because of the disruptions caused by the Covid-19 pandemic, the Indian government has decided to give more time to steel importers to bring in the quantities that they have registered till now with the government under the steel import monitoring system. A government official told BusinessLine “The Commerce and Industry Ministry had been receiving representations from users of imported steel, including engineering goods producers, stating that the registrations made for import of steel may not be met within the time stipulated by the government because of the ongoing lockdown in the country and various other markets. They demanded that they be given a reasonable period of time for imports.”

The Directorate General of Foreign Trade decided to give a one-time relaxation by extending the validity of all automatic registration numbers generated till March 31, 2020, for a period of 60 days beyond the 75-day period allowed in ordinary circumstances.

Source : Strategic Research Institute

0
”
Quote Reageren

Niet oké