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  1. forum rang 10 voda 30 juni 2020 13:43
    JISF Disappointed by Anti Dumping Duty on Tin Mill Products in India.

    The Japan Iron and Steel Federation said “We believe that it is inappropriate and regrettable that the Ministry of Commerce and Industry of India has rejected our statements, concluded that the domestic industry in India has been injured by imports of Coated & Plated Tin Mill Flat Rolled Steel Products from Japan. The Japanese steel industry will carefully study this decision and determine a proper course of action in preparation for the final determination by the Ministry of Finance in India.”

    On June 17th, as a result of an anti-dumping investigation, the Ministry of Commerce and Industry of India determined to recommend the Ministry of Finance of India to implement anti-dumping measures for Coated & Plated Tin Mill flat Rolled Steel Products from Japan. During the anti-dumping investigation, the Japanese steel industry stated that exports of Coated7 Plated Tin Mill Flat Rolled Steel Products from Japan have caused no injury to the domestic industry in India.

    Source : Strategic Research Institute
  2. forum rang 10 voda 30 juni 2020 14:06
    Tata Bridgital COVID Safety Services Enables COVID-19 Testing at Tata Steel Jamshedpur

    Avenue Mail reported that Tata Steel is exercising extreme caution and is taking all steps to ensure good health and safety of its employees. The company has identified frontline employees including contract workforce who have higher exposure risk and has made all arrangements to enable proactive COVID-19 testing protocols for them at TMH Jamshedpur. Tata Bridgital COVID Safety Services is offering the service as a pilot in Tata Steel. TBCSS has brought together Tata group expertise to help Tata group companies to effectively deal with COVID-19 risks. TBCSS is focused on helping organisations to plan a methodology whereby they have a safe and secure work environment. A combination of Antibody and RT-PCR tests will be done so as to understand the disease dynamics. Further strategy will be decided based on the results.

    In the pilot phase, 6256 frontline employees of Tata Steel at Jamshedpur have been identified for COVID-19 testing. The risk levels of the identified employees have been done basis their work profile, age, co-morbidity, recent travel history, close contact with COVID person, etc. Current scope covers employees and contract workforce across categories like canteen services and contractor cell, Medical Services, Corporate Social Responsibility, security and brand protection, mechanical maintenance and Occupational Health and Safety.

    Tata Bridgital IT platform is being leveraged to deliver the services with the help of Bridgital Coordinators, who connect with the pre-registered Tata Steel employee identified for the service and provide information about TBCSS. The platform features include providing a one-stop source of information for workforce members, proactive monitoring, and contact tracing, among others.

    Source : Strategic Research Institute
  3. forum rang 10 voda 30 juni 2020 14:07
    Metalloinvest Honours Andrey Varichev by Renaming Mikhailovsky GOK

    Metalloinvest announced the renaming of Mikhailovsky GOK to Andrey Varichev Mikhailovsky GOK. Metalloinvest CEO Nazim Efendiev said: "Andrey Varichev was a true leader at Metalloinvest and the driver of bold development projects that took the Company to the next level. At the initiative of Company founder Alisher Usmanov, Andrey Varichev’s name is immortalised in the name of the enterprise that he successfully managed. Andrey Varichev was proud that his career at Metalloinvest started at Mikhailovsky GOK working alongside mining professionals. Today, Mikhailovsky GOK is a leading enterprise that continues its active development and strives to be among the world’s leading iron ore producers.”

    Andrey Varichev was born in Orel in 1967. He graduated from the Moscow Aviation Technological Institute, worked at Baikonur and at Energia, and participated in the assembly of the cabin module as part of the Buran programme. In 1992, he began his career in metallurgy. Andrey held senior positions at a number of Russian metallurgical enterprises. In 2005-2006, he was the head of Mikhailovsky GOK. In 2006 he held positions of Sales Director, First Deputy CEO of Management Company Metalloinvest and CEO of Metalloinvest Holding Company. In 2013 he became the CEO of Management Company Metalloinvest. He was awarded the Order of Friendship, the title of Honorary Metallurgist.

    Mikhailovsky GOK is one of the largest iron ore mining and processing enterprises in Europe. In 2015, the enterprise implemented one of Metalloinvest’s most significant investment projects with the launch of Pellet Plant #3, increasing the Company's pellet production capacity by 5 million tonnes per year. In 2018, Mikhailovsky GOK implemented the industrial production of pellets from a mixture of concentrates from Lebedinsky GOK and Mikhailovsky GOK, and launched a concentrate intake facility.

    Source : Strategic Research Institute
  4. forum rang 10 voda 30 juni 2020 14:08
    US DOC Determines CVD on Imports of PC Steel Wire Strand from India

    US Department of Commerce found that revocation of the countervailing duty order on prestressed concrete steel wire strand from India would be likely to lead to continuation or recurrence of a countervailable subsidy rate of 62.92%.
    The merchandise subject to this order is prestressed concrete steel wire, which is steel strand produced from wire of non-stainless, non-galvanized steel, which is suitable for use in prestressed concrete, both pre-tensioned and post-tensioned applications. The product definition encompasses covered and uncovered strand and all types, grades, and diameters of PC strand. The merchandise is classifiable under subheadings 7312.10.3010 and 7312.10.3012 of the Harmonized Tariff Schedule of the United States.

    On February 4, 2004, Commerce initiated the third sunset review of the Order. On March 13, 2020, Commerce received a timely notification of intent to participate from Insteel Wire Products Company, Strand-Tech Manufacturing, Inc, Sumiden Wire Products Corporation, and Wire Mesh Corp.

    Source : Strategic Research Institute
  5. forum rang 10 voda 30 juni 2020 14:08
    Hoa Phat to Start HRC Sales in September 2020

    Vietnam-based Hoa Phat Group last week announced that it plans to start selling HRC to the market in September 2020, as the second phase of its Dung Quat project, which includes two blast furnaces and a flat rolling complex, is expected to be completed in the second half of the year. Hoa Phat Group started trial production at its new HRC line in April

    Meanwhile, the company said that it is not likely to achieve its annual sale target of 3.6 million tonnes for construction steel in 2020.

    Source : Strategic Research Institute
  6. forum rang 10 voda 30 juni 2020 14:09
    International Zinc Association to Launch Continuously Galvanized Rebar Mill at Madhav KRG Group

    Leading industry association dedicated exclusively to the interests of zinc and International Zinc Association announced virtual launch of Asia’s first-ever Continuous Galvanized Rebar Manufacturing Facility on June 29th, 2020. The first-of-its-kind facility, situated in Gobindgarh district in Punjab, will be launched by IZA in collaboration with Madhav KRG Group and Hindustan Zinc Limited. It will produce a new production process and product, Continuously Galvanized Rebar, value added rebars for higher life and low maintenance of infrastructure to provide significant cost savings compared to other corrosion resistant rebar systems.

    The conference also sees participation from national and international bureaucrats, policy-shapers, members of critical industry associations who will come together and debate discuss pressing issues on corrosion and infrastructure in the country.

    Source : Strategic Research Institute
  7. forum rang 10 voda 30 juni 2020 14:09
    Tata Steel BSL Kavach Keeping Workers safe from COVID-19

    Business Standard reported that Tata Steel BSL has put in a place a novel system to keep its workers safe from the deadly contagion COVID-19. The company has partnered global consultancy Boston Consulting Group to implement Tata Steel BSL Kavach. Over 60 days into its initiation and roll out, the Corona proof system has proven to be fool proof to this date. Tata Steel BSL Kavach is a six-layered system, catering to government, supplies and operations protocols. The company’s intent was to modularise the whole workforce into small, self-contained units called pods. Each pod can have from two to a maximum of 10 workers. The workers are skilled enough to manage the operations within a pod without depending on their counterparts in other pods. This helps curb inter-pod movement. A pod can be a control room or a Hot Strip Mill.

    People within a pod have very limited cross movement and interaction. To reduce the risk of contamination across shifts, a 30-minute air gap is maintained between two shifts. Fifteen minutes before the shift ends, employees rigorously sanitize their work areas and tools and exit through designated gates. The next shift enters 15 minutes later through a separate gate, wherever possible and once again cleans the work area and tools before use. If any worker within a pod is infected, the entire pod is quarantined but functions at other pods continue uninterrupted.

    However, certain functions of a steel complex entail cross movement of workers, which runs the risk of pod breaches.

    The latest system to ring fence the workers from Covid-19 is operational across Tata Steel BSL facilities- Sahibabad in NCR, Meramandali in Odisha, Khopoli in Maharashtra and other units. The entire employee strength of around 28,000 at Tata Steel BSL has been split into 2000 pods across locations. The initiative was launched on April 20 this year by Rajiv Singhal, managing director, Tata Steel BSL.

    Source : Strategic Research Institute
  8. forum rang 10 voda 30 juni 2020 14:18
    US ITC Keeps AD & CVD Order on Imports of Light-Walled Rectangular Pipe & Tube from China, Korea, Mexico & Turkey

    The US International Trade Commission determined that revoking the existing antidumping and countervailing duty orders on imports of light-walled rectangular pipe and tube from China, Korea, Mexico, and Turkey would be likely to lead to continuation or recurrence of material injury within a reasonably foreseeable time. As a result of the Commission’s affirmative determinations, the existing countervailing duty order on imports of this product from China, and the existing antidumping duty orders on imports of this product from China, Korea, Mexico, and Turkey, will remain in place.

    This action comes under the five-year sunset review process required by the Uruguay Round Agreements Act. The Uruguay Round Agreements Act requires the Department of Commerce to revoke an antidumping or countervailing duty order, or terminate a suspension agreement, after five years unless the Department of Commerce and the USITC determine that revoking the order or terminating the suspension agreement would be likely to lead to continuation or recurrence of dumping or subsidies (Commerce) and of material injury (USITC) within a reasonably foreseeable time.

    Source : Strategic Research Institute
  9. forum rang 10 voda 30 juni 2020 14:18
    POSCO Orders DMS 20Hi EcoMill from Fives to Process GIGA CR Steel

    POSCO has contracted Fives for its reversible cold rolling mill DMS 20Hi EcoMill to process GIGA steel Ultra Advance High Strength Steel and TWIP for automotive applications. For steelmakers and equipment providers, it is challenging to produce the highest tensile strength steel with 2,000 MPa to behave properly in crash behaviour and have better formability. Tensile strength refers to the maximum amount of stress a material can withstand while being stretched or pulled without breaking, and is measured in MPa, as a force per unit area

    In view of the fact that the mechanical properties of the UHSS or GIGA steel are similar to the ones of stainless steel, DMS 20Hi EcoMill was a silver bullet for GIGA steel processing. The robust monobloc housing and a fully controlled manufacturing process guarantee fabrication of the strongest cold rolling mill ever. It will have 180,000 tones production capacity, and will process ultra-high strength steel from 0.5 mm to 2.5 mm thickness on the strip width from 800 mm to 1,650 mm.

    In addition, DMS 20Hi EcoMill combines several advances:
    Enhanced productivity thanks to the advanced strip wiping and strip cooling technologies
    Push-push 1st intermediate roll shifting system to reduce the risk of broken parts
    Improved strip surface quality due to the advanced strip cooling and flatness control system
    Quick and safe maintenance with minimal downtime due to easy access

    Since 2016, POSCO has been developing its GIGA steel for the automotive application due to its unparalleled properties. This steel is stronger than aluminium; and therefore, meets the most stringent safety standards. It has high formability to produce complex auto parts without any special processing. It leads the industry with the lightest weight which reduces emissions. Lighter vehicle body weight and significant reduction of CO2 emissions have been major drivers for carmakers.

    Source : Strategic Research Institute
  10. forum rang 10 voda 30 juni 2020 14:19
    Tata Steel Introduces Fibre Reinforced Polymer Quarantine Units

    To aid the frontline healthcare professionals in their efforts, Tata Steel along with other Tata Group companies including Tata Projects and Tata Consulting Engineers have demonstrated both agility and collaborative spirit by working together on a 500-bed Greenfield hospital project being developed over a 5-acre site in Kasargod in Kerala. With design specifications and inputs from Tata Projects and Tata Consulting Engineers, Tata Steel is supplying a range of modular pre-fabricated Completely Built Units to be used primarily as quarantine and isolation cabins, rest rooms, canteens and other service units within the hospital.

    These pre-fabricated units are being produced by Tata Steel’s brand Nest-In, its Tubes Division and its New Materials Business in collaboration with eight manufacturing partners across the country. Besides steel, Tata Steel is using Fibre Reinforced Polymer to manufacture quarantine units for the first time in India. FRP is positioned as a new-age alternative building material that has compelling pros that makes it a viable mass-production solution for the future.

    Each 400 square meter quarantine unit can accommodate five beds and one washroom. The FRP units are made using Tata Structura hollow sections with FRP walls and roof panels. They come with factory-fitted electrical and plumbing systems as well. The FRP units offer several benefits such as being lightweight, a high strength to weight ratio and being easier and cheaper to transport. Moreover, FRP is completely corrosion-resistant and weatherproof, while offering maintenance-free service life.

    Nest-In, part of Tata Steel’s Services & Solutions portfolio, has also enabled smooth manufacturing and timely supply of quarantine and isolation cabins across the country. The Company is in discussions with health authorities to explore the possibility of setting up Nest-In Covid-19 units across different parts of India.

    Source : Strategic Research Institute
  11. forum rang 10 voda 30 juni 2020 14:20
    British Steel Secures 3 Patents for Descaling System

    An award-winning engineering solution at British Steel’s Special Profiles operation has received a further boost after it was awarded three patents. A GBP 2 million investment was made in 2017 to install a ground-breaking new descaling system at our Skinningrove-based Special Profiles rolling mill. British Steel developed and installed the state-of-the-art technology in partnership with Italian specialists INOXIHP. The system fires highly pressurised water through multiple nozzles at more than 200 bars, onto red hot steel blooms. This process smartly and efficiently removes the scale formed during the process of reheating the steel, with intelligent lasers ensuring the sprayer is in the optimum position to provide our customers with the highest quality finish.

    Special Profiles operation produces special-shaped steel sections for use in a wide range of industries. The steel blooms are made at our integrated steelworks in Scunthorpe in North Lincolnshire before being transferred by rail to the Skinningrove site in North Yorkshire where they’re expertly processed according to the exact requirements of the customer. The descaling process is an integral part of operation, as it dramatically improves the surface quality of the steel.

    Source : Strategic Research Institute
  12. forum rang 10 voda 30 juni 2020 16:49
    May output falls despite continued Chinese growth

    Crude steel production in the 64 countries reporting to the World Steel Association (worldsteel) fell -8.7% on-year in May to 148.78 million tonnes. The association reiterates, however, that many figures are estimates and likely to be revised next month due to the Covid-19 pandemic impact.

    China was again one of few nations to record output growth in May, as production rose 4.2% to 92.27mt. Vietnam also saw output increase, by 11.4% to 1.95mt. India, Japan and South Korea reported a -39%, -32% and -14% fall respectively to 5.77mt, 5.92mt and 5.39mt.

    The EU28 saw output fall -27% in May to 10.49mt. German output is estimated to have declined -19% to 2.85mt, while Italian output is estimated to have slumped -44% to 1.25mt. Spanish output fell -34% to 833,000t and French production declined -37% to 784,000t.

    Turkish output slumped -26% to 2.27mt.

    US production slumped -37% to 4.79mt, while Brazilian output fell -23% to 2.19mt.

    CIS output fell -7.6% in May to 8.17mt, with Russian production estimated to be down 5% to 6mt and Ukrainian output falling -10% to 1.64mt.

    PIG IRON OUTPUT REDUCTION LESS ACCENTUATED Global pig iron output in May totalled 107.42 million tonnes, 6.64% up on-month, but it was still -6.6% down on-year. The year-to-date output decline deepened from -2.6% in January-April to -3.5% on-year in January-May, worldsteel data shows.

    Asia, the CIS and South America all increased output in May, but Europe and North America produced less pig iron than in April and a year ago. Asia's output increased by 7.4% on-month to 90.97mt in May, although it was still down -3.1% on-year. JanuaryMay pig iron output in Asia was also down on-year by just -1.4%.

    China duplicated its April monthly pig iron output rise of 7.4% in May, reaching a total of 77.31mt, also gaining 2.4% on-year. To date, China's pig iron output is up 1.5% on-year to 356mt. India's output also rebounded in May, having fallen by almost half in May. At 4.49mt it was 37.6% up on-month but still -30.1% down on-year.

    Japan reduced output again in May, following the April decline of -18.4% on-month, and produced 4.4mt of pig iron, -10.2% down on-month and -32.7% on-year. South Korea's output of pig iron rebounded in May after the -10.3% April fall, and at 3.48mt was 5.9% up on-month, but -14.4% down on-year.

    At 5.15mt, EU-28 output fell in May for the fifth consecutive month, losing -5.74% onmonth and -33% on-year. This was despite all major producing countries including France, Germany, Hungary, Italy, Poland, Spain and UK increasing output slightly on-month. The decline was on the back of US Steel Kosice’s blast furnace revamp and Liberty Galati cutting output in response to lack of demand. As a result, fivemonth EU output was down -17.7% to 31.5mt.

    CIS pig iron output was up 10.4% on-month and 3.6% on-year to 6.4mt in May, and fivemonth output rose 1.3% on-year at 31.39mt. Kazakhstan, Russia and Ukraine all ramped up production, feeding China's continuous demand for the material.

    North America's own pig iron output, meanwhile, declined -0.6% on-month and -38% onyear in May to 1.71mt. The decline was largely on the back of the US' -3.3% on-month fall in production to 1.07mt, as both Canada and Mexico slightly increased their respective outputs.

    South America ramped up May pig iron output by 0.8% on-month to 1.81mt, on the back of Brazil’s output increase. South America's largest ironmaking nation produced 1.66mt of pig iron in May, 1.8% up on-month but -27.5% down on-year.

    Source Kallanish

  13. forum rang 10 voda 30 juni 2020 17:50
    Europese staalindustrie teleurgesteld door handhaven importquota

    9,37 0,038 0,41 % Euronext Amsterdam

    (ABM FN-Dow Jones) De Europese staalindustrie is teleurgesteld in het besluit van de Europese Unie om de importquota op staal niet te verscherpen. Dit zeiden brancheorganisatie Eurofer en vakbond IndustriAll European Trade Union dinsdag in een reactie.

    De Europese Commissie stelde de importquota eerder in om te voorkomen dat Europa overspoeld zou worden met goedkoop staal uit het buitenland.

    De staalindustrie wilde een aanpassing vanwege de verzwakte vraag naar staal door de coronacrisis, zodat de sector hiermee beter beschermd zou worden.

    Volgens Luis Colunga, Deputy General Secretary van IndustriAll Europe, is dit de ergste crisis in decennia. Het kost duizenden banen en miljarden aan belastinggeld wanneer staalfabrieken in Europa moeten worden gesloten.

    Colunga wil zo spoedig mogelijk om tafel met EU-beleidsmakers.

    Volgens Axel Eggert, Director General van Eurofer, is de vraag naar staal sinds maart in de EU met 50 procent gedaald, maar het invoerquotum voor staal waar geen importheffing voor geldt, is alleen maar gestegen. "Dit is onlogisch", meent Eggert.

    Volgens hem laat de Commissie de sector daarmee in de kou staan. Ook Eurofer eist een gesprek met de beleidsmakers in Brussel.

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

    © Copyright ABM Financial News B.V. All rights reserved.
  14. forum rang 10 voda 1 juli 2020 15:21
    European Commission Changes EU Steel Import Quotas System

    The European Commission has published the result of its second investigation reviewing the safeguard measures put in place by the European Union on imports of steel products. The thorough package, that will take effect as of 1 July, applies all available legal means to defend the European steel industry in the current difficult market situation. The changes take account of the special circumstances prevailing in the market due to the coronavirus crisis as well as expected developments. They will ensure that the gradual resumption of activity and return to normality takes place in an orderly manner. The adjustments made in managing the quotas will be effective in deterring potentially harmful stockpiling behaviour by any foreign exporters that may try to sell very high amounts of steel in the EU market in an opportunistic manner to the detriment of the EU steel industry.

    The adjustments strike an appropriate balance between the legitimate interests of all the interested parties within the EU. They can shield the EU steel industry from the eventual effects of trade diversion in a way that is most adapted to the current circumstances, while ensuring sufficient supply for the steel-using industries in Europe. Since the launch of the review in February 2020, the Commission has considered 300 submissions received from stakeholders, consulted EU Member States and received their wide support on the proposed changes.

    More specifically, the main changes are the following:

    Country-specific quotas will be made available in quarterly and not annual allotments. This will help ensure a more stable flow of imports at this stage and will minimise the risk of short-term import surges.

    A new country-specific quota will be introduced for hot-rolled flat (category 1) steel.

    Access to the residual quota for countries that have previously exhausted their country-specific quota will be only permitted to the extent necessary to respond to demand. This will help ensure equitable access to the EU market for smaller exporting countries.

    The list of developing countries excluded from the measures is now updated on the basis of the most recent stable statistical data (2019).

    The measures remain fully in line with the EU's international commitments, and as provided for by the applicable WTO rules, the affected non-EU countries were consulted earlier this month.

    The Commission introduced the initial safeguard measures on steel imports in July 2018. The measures aim to prevent economic damage for European steel producers, given the risk of import increases related to the introduction of trade restrictions by the US on steel and aluminum products. The Commission confirmed the initial temporary measures in early 2019 for a period until end of June 2021. The first review taking account of the market evolution was concluded in September 2019. The adjustments announced today result from the second review initiated in February 2020.

    Source : Strategic Research Institute
  15. forum rang 10 voda 1 juli 2020 15:22
    JSPL to Sell Entire Stake in Jindal Shadeed Oman

    Jindal Steel & Power Limited’s subsidiary, Jindal Steel & Power (Mauritius) Ltd. has accepted a binding offer from Templar Investments Limited to divest its entire stake in its Oman asset, Jindal Shadeed Iron and Steel Co LLC Oman. The divestment is in line with JSPL’s vision and commitment to continuously bring down its debt and deleverage its balance sheet. The enterprise value of the deal is over USD1 billion. Alpen Capital, a Middle East-based investment bank was appointed which ran a sale process and received competitive offers from multiple interested bidders.

    CMS Cameron McKenna Nabarro Olswang LLP, Oman and Cyril Amarchand Mangaldas, India are the legal advisors for the transaction.

    The transaction is subject to approval from shareholders of JSPL and lenders of JSIS Oman among others. JSPL expects the transaction to close in approximately a month.

    Source : Strategic Research Institute
  16. forum rang 10 voda 1 juli 2020 15:22
    EU Steel Safeguard Decision Detrimental to European Steel Recovery

    IndustriAll European Trade Union and the European Steel Association EUROFER have reiterated their deep disappointment at the EU’s decision to not adjust the tariff-free import quota for steel in the light of the collapse in EU steel demand. The steel sector had called for significant, short-term changes to the EU steel safeguards to preserve the industry during this pandemic-induced economic downturn. IndustriAll Europe Deputy General Secretary Mr Luis Colunga said “This is the worst crisis we have seen in decades, and it represents a failure to exploit the safeguard tool to the fullest possible extent. This may risk thousands of jobs and could cost taxpayers billions if the ensuing closures of steel facilities throughout Europe cannot be prevented by other measures. We need an emergency meeting with EU policymakers. Together we can work on solutions to rescue the strategically vital European steel sector. Only a robust domestic industry can reliably contribute to completing the circular economy, continue the transition to carbon neutrality, and ensure the welfare of Europe’s people.”

    EUROFER Director General Axel Eggert said “We have seen a collapse of 50% in EU steel demand since March, but the tariff-free import quota has been further raised. Objectively, this makes no sense. We had expected a clear decision for European industry. This did not happen. The resulting marginal technical changes may help one or other steel product group but most of our industry has been left in the cold. We are ready and willing to sit down with policy makers with an open mind in order to develop a way forward for our sector and the downstream sectors it services”, emphasised Mr Eggert. “The result of the revised safeguards is a major upset, and the EU must still find ways and means to avoid further closures and job losses in the European steel sector”.

    At the Foreign Affairs Council meeting on 9 June, several Member States had urged the Commission to make adjustments to the safeguard review proposal, though they stopped short of calling for the drastic quota reduction and elimination of unused quotas requested by the steel industry. Only minor changes have been made to the proposals following Member State pressure, these are not enough in the current changed circumstances, according to the industry.

    Source : Strategic Research Institute
  17. forum rang 10 voda 1 juli 2020 15:23
    PSL Lenders Reject JSW Steel Demand for More Time

    Economic Times, citing people aware of the matter, reported that financial creditors to the bankrupt Bhushan Power & Steel have rejected JSW Steel’s request for time till March 2021 to take over the sick company and that they will press for immediate payment in the next hearing of the case in the Supreme Court on July 6. One person privy to the discussion said “This case has been delayed for many months. If you calculate on the basis of time value of money, we have lost more because of the non-payment. In fact if we had taken the Tata offer we would have made more by now. So we are in no position to give more time. The company has to honour its commitment."

    The core committee consists of lead bank Punjab National Bank, State Bank of India and Acre ARC. They own more than 40% of the company's debt.

    JSW bid INR 19700 crore for the 3.5 million tonne steel plant pipping Tata Steel INR 16,000 crore offer. The company was declared the winning bidder by NCLT in September 2019.

    Source : Strategic Research Institute
  18. forum rang 10 voda 1 juli 2020 15:23
    Hyundai Steel to Increase Ultrahigh Strength Steel Supplies to Carmakers

    Hyundai Steel said that it will speed up the development of high-strength steel materials to gain an upper hand in the global automobile market. The company expects to get quality certifications from automakers in Europe and China in order to increase its competitiveness across the world. The company aims to supply one million tonnes of steel to major global automakers

    In 2019, Hyundai Steel developed 218 types of ultra-high strength steel, and received certifications from global automakers for 167 auto parts. The company produced hot stamped steel for Hyundai Motor’s bestselling sedan Avante’s latest model as well as 1.5GPa-grade high-strength steel for auto parts needed to ensure vehicle safety.

    Source : Strategic Research Institute
  19. forum rang 10 voda 1 juli 2020 16:33
    US Steel Kosice Deal with Unions Expires

    Local media reported that US Steel Kosice has failed to arrive at a deal on a new collective agreement for the next four years with trade unionists and the current contract is set to expire on July 1st 2020. US Steel Kosice spokesman Mr Jana Baca said “Despite 25 rounds of negotiations with our trade unions, no deal has been clinched and they informed us today of their plan to reach out to the Ministry of Labour, Social Affairs and Family and ask for an intermediary to be assigned to the case with an eye towards resolving our differences. The firm finds the union’s decision disappointing, but will extend full co-operation to the Government intermediary.”

    He added “However, we will continue to comply with our commitments from the 2016 collective agreement regarding remuneration. The factory will remain in operation and we expect all employees to continue working as usual.”

    The collective agreement dated from 2016 will no longer be in effect as of July 1.

    Source : Strategic Research Institute
  20. forum rang 10 voda 1 juli 2020 16:34
    E.ON & thyssenkrupp Bring Hydrogen Production on the Electricity Market

    E.ON and thyssenkrupp are making hydrogen technology more intelligent: large-scale electrolysis plants, which plant manufacturer thyssenkrupp offers to industry, can now be linked to the electricity market in Germany via E.ON’s virtual power plant. This makes the plants “electricity market ready”. In this way, industrial hydrogen production can contribute to the efficient integration of green electricity into the energy system. The principle is that if there is a high demand in the power grid, the plant will shut down hydrogen production so that the energy required for electrolysis is available to the public power supply. Conversely, hydrogen production is ramped up if more energy is fed into the grid than can be distributed.

    This innovation makes so-called Power-to-X systems more attractive for the industry. The operator of a plant can market his willingness to adapt flexibly to general electricity demand and thus generate additional income on the electricity market.

    This process is automatically controlled by the E.ON Virtual Power Plant. This software platform links various mostly industrial producers and bulk purchasers of energy and controls the generation and consumption of these customers according to the current network load. In this way, the Virtual Power Plant makes a significant contribution to compensating for the fluctuating electricity production from renewable energy in the power grid.

    thyssenkrupp and E.ON successfully tested the system at the Carbon2Chem pilot plant with a capacity of up to two megawatts in Duisburg. E.ON has also checked that the plant meets all the requirements for participation in the balancing power market. Due to the high reaction speed of the thyssenkrupp plant, the technology can even participate in the market for high-quality primary control power. This was tested with the transmission system operator successfully.

    thyssenkrupp and E.ON are now cooperating on marketing. Effective immediately, thyssenkrupp is marketing the Power-to-X technology with the additional option of coupling the system to the virtual power plant. E.ON offers customers the option of operating the power plant optimized for the power market.

    Source : Strategic Research Institute
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