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Aandeel ArcelorMittal AEX:MT.NL, LU1598757687

  • 23,770 24 apr 2024 13:06
  • +0,300 (+1,28%) Dagrange 23,550 - 23,950
  • 752.416 Gem. (3M) 2,5M

Nieuws en info hier plaatsen (deel 4)

35.173 Posts
Pagina: «« 1 ... 1366 1367 1368 1369 1370 ... 1759 »» | Laatste | Omlaag ↓
  1. forum rang 10 voda 3 augustus 2021 08:16
    GMS Market Commentary on Ship Breaking in Week 30

    World's leading cash buyer of ships for recycling GMS said that “As the Indian sub-continent markets remain positioned on a largely firm footing, as a surprising shortage of tonnage keeps demand stuck high and prices propped up. The conclusion of Eid holidays has yet to see an increase in supply, despite the fact that the ongoing monsoon / summer holiday months could also be contributing to the overall sluggishness in the supply of units intended for recycling. After lst week’s stock market turmoil and the Chinese crackdown on various sectors, there wasn’t an immediate & corresponding knock on-effect on the shipping & steel markets. However, there are lingering fears that such arbitrary and severe restrictions may eventually impact these industries on a global scale, especially since China is such a fundamental driver in the international economies.”

    GMS added “In other news, Covid-19 cases are on the rise in the sub-continent markets once again, particularly in Bangladesh, which had recently loosened its restrictions and there is now talk of further lockdown measures to slow the spread of the highly transmissible Delta variant, as global efforts continue to ramp up to supply the much needed vaccines. India is also witnessing close to 50,000 fresh cases per day and about 1,000 fatalities per day. While these numbers are certainly down from the peaks of several months ago, these are still worrying statistics nonetheless. Even Turkish numbers are reportedly on the rise, with rumors of yet another lockdown in Turkey making the rounds.”

    As parts of Europe and the US open up again, there are still varying degrees of lockdowns, especially across Asia as the battle against Covid-19 nears the 2 year mark.

    For week 31 of 2021, GMS demo rankings / pricing for the week are as below.

    GMS Pricing

    India/Bangladesh/Pakistan – Week 30, Improving

    Dry Bulk – USD 560-590 per LDT

    Tankers - USD 570-600 per LDT

    Containers - USD 580-610 per LDT

    Source - Strategic Research Institute
  2. forum rang 10 voda 3 augustus 2021 08:17
    Hoa Phat Group Reports Strong Profit in Q2 od 2021

    In the second quarter of 2021, Hoa Phat Group reached revenue of VND 35,400 billion and after profit of VND 9,745 billion. In the first half of the year, the group posted 67 per cent year-on-year increase in its revenue, reaching nearly VND 66,900 billion.

    Hoa Phat Group has implemented many effective solutions to ensure both pandemic prevention as well as stable production and business. In the first six months of the year, the group produced more than 4 million tonnes of crude steel, increasing 55 per cent from the same period last year. Its steel sales reached nearly 4.3 million tonnes, representing 60 per cent year-on-year increase. Its sale of construction steel reached 1.8 million tonnes, increasing 22 per cent from the corresponding period last year and maintaining the leading market share of 34.6 per cent in the country.

    In the January-June period, the hot rolled coil and steel pipe output were 1.3 million tonnes and 375,000 tonnes respectively. Its galvanized steel output was 2.8 times higher than the same period last year to reach approximately 160,000 tonnes. Its market share of steel pipe was more than 30 per cent while galvanized steel maintains its firm position among Top 5 market share in Vietnam.

    In the first half of the year, the pandemic situation saw complicated changes, making the prices of input materials for steel production such as coke and iron ore increased. However, Hoa Phat Group still maintains production output to meet the domestic market demand. The selling price has always been lower than the price in the world market.

    Source - Strategic Research Institute
  3. forum rang 10 voda 3 augustus 2021 08:21
    Usiminas Posts Strong Recovery in Q2 of 2021

    Brazilian fiats steelmaker Usiminas posted a net profit of BRL 4.54 billion (USD 884.5 million) as compared to net loss of BRL 395 million in Q2 2020. Usiminas said the net profit it reported in Q2 this year was the company's biggest quarterly profit it has ever reported. Net revenues in Q2 this year spiked 296% YoY to BRL 9.59 billion.

    Steel sales volumes in Q2 this year rose 116% YoY to 1.31 million tonnes. Iron ore sales volumes in Q2 totaled 2.05 million tonnes 8% YoY.

    Source - Strategic Research Institute
  4. forum rang 10 voda 3 augustus 2021 08:22
    US Steel Capacity Utilization Touches 85% Mark in Week 30

    American Iron and Steel Institute announced that in the week ending on July

    31, 2021, domestic raw steel production was 1,876,000 net tons while the capability utilization rate was 85.0 percent. Production was 1,350,000 net tons in the week ending July 31, 2020 while the capability utilization then was 60.3 percent. The current week production represents a 39.0 percent increase from the same period in the previous year. Production for the week ending July 31, 2021 is up 0.4 percent from the previous week ending July 24, 2021 when production was 1,868,000 net tons and the rate of capability utilization was 84.6 percent.

    Adjusted year-to-date production through July 31, 2021 was 54,555,000 net tons, at a capability utilization rate of 80.0 percent. That is up 19.1 percent from the 45,814,000 net tons during the same period last year, when the capability utilization rate was 66.7 percent.

    Source - Strategic Research Institute
  5. forum rang 10 voda 3 augustus 2021 08:22
    AHMSA Posts Strong Profit in Q2 of 2021

    Mexican integrated steelmaker Altos Hornos de Mexico posted a net profit of MXN 766 million (USD 38.6 million) in Q2 this year, compared to a net loss of MXN 4.21 billion (in Q2 2020.

    Net revenues in Q2 this year rose 65.1 percent, year-over-year, to MXN 11.49 billion ($580.3 million). The company reported an EBITDA of $121 million, as opposed to the EBITDA loss of $53 million it reported in Q2 2020.

    Source - Strategic Research Institute
  6. forum rang 10 voda 3 augustus 2021 08:23
    Search Starts for Potential Investors for Zisco

    The Herald reported that Zimbabwe Iron and Steel Company public relations manager Ms Patricia Muzenda announced that the adjudication process to identify potential investors to resuscitate the defunct Zimbabwe Iron and Steel Company has commenced and a successful investor is expected on the ground by December this year. A number of potential investors have responded and an adjudication process has commenced. The adjudication process will result in the shortlisting of potential investors by the board of directors on the recommendation of the executive management team after, which an investor conference will be held.”

    She said “The successful candidate will then carry out a due diligence on Ziscosteel and its subsidiaries and will lead to the implementation of the project from the beginning of December 2021."

    Zisco ceased operations at the height of hyper-inflation in 2008, and since then, efforts to revive the company have suffered false starts.

    Source - Strategic Research Institute
  7. forum rang 10 voda 3 augustus 2021 08:24
    Jindal Saw Reports Spike in Steel Business EBITDA in Q2 of 2021

    Jindal Saw Ltd has reported 75.81% growth yoy in total sales revenues for the Jun-21 quarter on consolidated basis at INR 2,885 crore. On a sequential basis, the revenues were down 23.77% compared to INR 3,784 crore in the Mar-21 quarter. The iron pipes business took a positive turn with the strong demand for steel and construction activities. The steel business of Jindal Saw was sharply up on YoY basis by 77% at INR 2,857 crore in the April-June 2021 quarter. However, the revenues were sharply lower on YoY sequential basis due to the lockdowns in most major towns and cities on account of COVID 2.0. The waterways business is flat but too small right now. On YoY basis, the water ways business remained loss-making and only expanded its EBITDA losses in the quarter.

    The steel business of Jindal Saw witnessed a spike in EBITDA by 4.15X at INR 311 crore. Net profits for the April-Jun 2021 quarter turned around to a profit of INR 152 crore from a net loss of INR 9.24 crore. This was largely helped along the way by the top line boost which helped absorb fixed costs more efficiently in the April-June 2021 quarter. Net margins for quarter stood at 5.27%, higher than 4.87% in the sequential January-March 2021 quarter.

    Source - Strategic Research Institute
  8. forum rang 10 voda 3 augustus 2021 08:26
    BSI Verifies Greenhouse Gas Emissions at MMK Group

    The auditing company BSI of Great Britain has issued an opinion confirming the quantitative assessment of the greenhouse gas emissions of the PJSC MMK Group. Magnitogorsk Iron and Steel Works pays great attention to the issues of climate change and the assessment of greenhouse gas emissions. Take a proactive stance in terms of the climate agenda, the company first assessed the risks associated with global climate change, a quantitative estimation and verification of direct and indirect greenhouse gas emissions for the years 2019-2020 for Scope ( coverage area ) 1, Scope 2 and Scope 3 for the main production site in the city of Magnitogorsk. The results of the calculation of emissions have been confirmed by the auditing company BSI.

    To develop this area, in 2021, an inventory of sources and a quantitative assessment of greenhouse gas emissions of the PJSC MMK Group was carried out. In July of this year, BSI issued a positive conclusion on the verification of greenhouse gas emissions of PJSC MMK Group for 2020 for Scope 1, Scope 2 and Scope 3.

    PJSC MMK's activities to combat climate change help to achieve the company's goals in the field of environmental, social and corporate responsibility. MMK plans to achieve a reduction in CO2 emissions by 3.9 million tons by 2025 compared to the level of 2020. Reducing greenhouse gas emissions is ensured not only by using the best available technologies, but also by developing the production of innovative types of products.

    Source - Strategic Research Institute
  9. forum rang 10 voda 3 augustus 2021 08:27
    Hyundai Cradle & Posco Capital Launch H2 Challenge

    Hyundai Cradle and Posco Capital with InnMind have opened H2 Challenge for applications on 5th July and is accepting applications from international startups from Pre-Seed to Scaleup stages, university teams and strategic partners, with a closure date for applications in mid-August. The Challenge is an open innovation initiative designed to identify the best entrepreneurial, academic and technological projects developed across the globe in the hydrogen related applications and technologies. It has been designed to become an open innovation platform for startups, academia and SMEs to share their solutions and establish collaboration opportunities with Hyundai or POSCO to proceed with joint development, project’s funding or PoCs.

    Following a mission to establish the future all together where all forms of transportation and industrial technology function seamlessly and sustainably, Hyundai Cradle Berlin and Posco Capital have joined forces to contribute to a society that can be centred around and powered by hydrogen, the most plentiful substance in the world.

    Starting from the July 5th of 2021, H2 Challenge is open for applications from international startups from Pre-Seed to Scaleup stages, university teams and strategic partners that develop both hardware and software solutions across multiple use cases and projects within the hydrogen value chain: H2 Production, H2 Transportation & Storage, H2 Application, Carbon Capture Utilisation & Storage, Ammonia Application.

    After the closure of the application period in the middle of August 2021, Industry experts and evaluators from Hyundai and Posco business units will enter the evaluation phase to select the best solutions to proceed with. The selected companies and teams will get an opportunity to launch sponsored PoCs, receive strategic funding and access R&D facilities for further joint development with Posco or Hyundai.

    Source - Strategic Research Institute
  10. forum rang 10 voda 3 augustus 2021 08:27
    Mechel Beloretsk Increases Shipment of Hardware in H1 of 2021

    Russian Mechel Group’s Beloretsk Metallurgical Plant for 6 months of 2021 increased sales of hardware products by 2% compared to the same period last year. In total, BMK shipped about 200 thousand tons of hardware. High dynamics, 2 times, was demonstrated by ball-bearing wire for the manufacture of bearing components. Sales of products for the production of various fasteners increased by 42% and 36%: steel shaped sections and calibrated rolled products. Sales of steel strip for mechanical engineering and low-carbon welding wire for the manufacture of electrodes increased by 26% and 15%, respectively

    The supply of steel ropes for various industries, as well as cold-worked reinforcement used in construction for the production of various reinforced concrete structures and meshes, increased by 6%. Nails and reinforcing strands for industrial and civil construction showed a slight increase.

    Source - Strategic Research Institute
  11. forum rang 10 voda 3 augustus 2021 08:28
    Gerdau Launches Program for Smart & Sustainable Startups in US

    Leading producers of long steel in the Americas and of special steel Gerdau is bringing its Sales Acceleration Program to North America. This cost and equity-free, two-phase program supports startups in increasing revenue, exploring new countries, and potentially getting additional funding. Gerdau is looking for B2B startups that are fully funded with a market-ready product, service, or solution, with an active sales team and existing customer base.

    Topics of special interest include:

    CO2 & Carbon Capture - Technologies that capture carbon or upcycle products for the automotive or construction industries

    Value Chain Integration - Technologies with advanced usability and a simple integration layer allowing the ability to process and analyze data from different companies and ERPs in the same value chain. All with an aim toward the optimization of response times, inventory, logistics, demand management, or emissions

    Recycling & Upcycling - Solutions targeting metals (ferrous and non-ferrous), construction waste and e-waste

    Smart Building - Industrial proptech, add-on solutions for utility, building management, and resource optimization

    Warehouse Technology - Sustainable solutions, inventory, picking optimization (applicable also for heavy and bulky items), and loading dock optimization (connection with delivery window and truck turnaround time are a plus).

    Applications open until July 30 and selection day is scheduled for September 9. Successful applicants will gain targeted introductions to Gerdau’s suppliers and customers and receive intensive sales training from Alchemist Accelerator’s global network of over 30,000 entrepreneurs and mentors. The best-performing startups may also receive investment from Paris Ventures (Gerdau’s corporate venture capital operated by Touchdown Ventures) and/or opportunities to create joint ventures.

    Source - Strategic Research Institute
  12. forum rang 10 voda 3 augustus 2021 08:32
    Thyssenkrupp Sells Mining Business to FLSmidth

    thyssenkrupp announced the sale of its Mining Technologies business unit to the Danish company FLSmidth, thus reaching a further important milestone in the initiated realignment of the group. The enterprise value is EUR 325 million. The transaction is subject to competition authority approval. The closing of the transaction is expected within the next 12 months. The Mining business was allocated to the Multi Tracks segment in October 2020 in order to find a new owner. With the sale, thyssenkrupp is successfully divesting the first major portfolio company in this segment. The business unit currently employs some 3,400 people and generated sales of around EUR 0.8 bn. in fiscal year 2019/2020. The sale is an important step in the initiated transformation of the group and the associated focusing of the portfolio. The aim is to transform thyssenkrupp into a high-performing “group of companies” with independent businesses, a lean holding company and a focus on systematic performance improvement across all businesses.

    The tie-up with FLSmidth, a listed company from Denmark and one of the world’s leading suppliers of technologies for the mining and cement industries, will create a strong player with a global presence and leading solutions along the entire mining business value chain. A particular focus is on green technologies that can significantly reduce resource consumption and emissions in the mining industry. FLSmidth also has great expertise in taking over companies and has proven highly successful in integrating these companies.

    Source - Strategic Research Institute
  13. forum rang 10 voda 3 augustus 2021 08:35
    FMG Reports Record Iron Ore shipments for June Quarter & FY21

    Fortescue Chief Executive Officer Ms Elizabeth Gaines said “The Fortescue team has delivered excellent results for the June quarter, with record quarterly shipments of 49.3 million tonnes contributing to our highest ever annual shipments of 182.2 million tonnes in FY21. This was an outstanding performance despite the impact of wet weather, as well as COVID-19 restrictions requiring many of our team members to remain on site for extended periods during WA’s lockdowns. We greatly appreciate the ongoing cooperation of the entire Fortescue family as we continue to manage the impacts of COVID-19.”

    Ore mined - 226.9 million tonnes, up 11 %YoY

    Overburden removed 295.2million tonnes, down 7% YoY

    Ore processed 185.8 million tonnes, up 5 % YoY

    Ore shipped 182.2 million tonnes, up 2 %YoY

    C1 cost (US$/wmt) 13.93, up 8 %YoY

    Ms Gaines said “Building on a second consecutive year of record performance, our guidance for FY22 reflects our ongoing commitment to optimising returns from our integrated operations and marketing strategy, with shipments in the range of 180 - 185 million tonnes. Together with our focus on investing in growth through the Iron Bridge Magnetite project and Fortescue Future Industries, we will continue to deliver strong results to ensure all our stakeholders benefit from Fortescue’s success.”

    Source - Strategic Research Institute
  14. forum rang 10 voda 4 augustus 2021 08:03
    voestalpine triples operating result for Q1 2021/22 and raises outlook for current business year

    Revenue for Q1 2021/22 rises 45.6% year over year to EUR 3.5 billion (Q1 2020/21: EUR 2.4 billion)
    At EUR 540 million, EBITDA more than triples, soaring by 242%
    At EUR 340 million, EBIT clearly positive again (Q1 2020/21: EUR –49 million)
    Profit before tax is EUR 319 million (Q1 2020/21: EUR –74 million), and profit after tax is EUR 259 million (Q1 2020/21: EUR –70 million)
    Gearing ratio falls year over year, from 71.7% to 43.8%
    Equity rises to EUR 6 billion (Q1 2020/21: EUR 5.5 billion)
    Number of employees: 48,880 FTE (+2.1% year over year)

    Voor meer, zie link:

    www.voestalpine.com/group/en/media/pr...
  15. forum rang 10 voda 4 augustus 2021 08:05
    US & EU Aiming for a Steel Tariff Deal by November 1

    An EU official told POLITICO that Brussels and Washington want to resolve the Section 232 steel and aluminum tariff spat by 1 November 2021, earlier than the year-end deadline the two sides set in a joint statement released in May. Reporting back on a conversation last week between EU trade chief Mr Valdis Dombrovskis and US Commerce Secretary Ms Gina Raimondo, he said “Both sides confirmed readiness to find a solution by 1 November. Both sides agreed to move forward with some concrete solutions in line with key parameters, such as restoring historic trade flows and to have a WTO compliant system in order to avoid managed trade.”

    However an EU diplomat said “Restoring historic trade flows sounds like a bid to limit the volume of EU steel and aluminum that enters the US market. But requiring the solution to be WTO compliant seems to rule out the EU adopting voluntary export restraints to limit its shipments to the United States, since those prohibited are by the WTO. There is no way will the EU buy peace at the expense of multilateral rules.”

    Both sides are parsing out alternatives to the US section 232 tariffs. Brussels still wants complete withdrawal of the tariffs, but is ready to look at other solutions, understanding the fact that the US also is interested in protecting its steel industry

    US President Mr Joe Biden and European Commission President Ms Ursula Von Der Leyen launched the new forum at the US-EU summit in Brussels last month. US Secretary of State Mr Anthony Blinken, US Trade Representative Ms Katherine Tai and Ms Raimondo lead the US team, while Competition Commissioner Ms Margrethe Vestager and Mr Dombrovskis head up the EU side.

    Source - Strategic Research Institute
  16. forum rang 10 voda 4 augustus 2021 08:06
    TAQA & Emirates Steel Join Hands for Green Steel Making in UAE

    Abu Dhabi-based diversified utilities and energy group TAQA has inked a partnership with Emirates Steel to develop a green hydrogen project that will produce the first green steel in the MENA region. A Memorandum of Understanding was signed Abu Dhabi National Energy Company PJSC and Emirates Steel, under which TAQA and Emirates Steel will consider utilizing green hydrogen to optimize clean steel production level. The hydrogen will enable green and low carbon steel manufacturing, saving energy while creating a sustainable and clean manufacturing process. The MoU also lays the groundwork for the project design to be expanded to meet the anticipated growth in international demand for low carbon steel. This is one of the innovative solutions aiming to reduce the carbon footprint of construction, transportation and industrial sectors, among others.

    TAQA and Abu Dhabi Ports recently announced an MoU for the development of an industrial scale green ammonia manufacturing and export facility. The new plant would be fuelled by hydrogen produced from power generated by a 2 GW solar PV power plant.

    Green hydrogen will form a valuable part of TAQA’s 2030 strategy for growth, which includes growing its gross power capacity from 18 GW to 30 GW in the UAE and adding up to 15 GW internationally. This increase in capacity will focus on renewable energy, particularly solar PV, to comprise more than 30% of its generation portfolio by 2030.

    Source - Strategic Research Institute
  17. forum rang 10 voda 4 augustus 2021 08:07
    Steel Mills Lost 0.5 Million Tonnes Production on LMO Diversion

    India’s Steel Minister Mr RCP Singh informed the Lower House of Indian Parliament that Indian steel mills stepped up production of Liquid Medical Oxygen by reducing production of Liquid Nitrogen & Liquid Argon and by reducing usage of oxygen for production to supply 230,262 tonnes of Liquid Medical Oxygen to to 22 states & UTs to battle recent COVID outbreak, which, reduced production of steel by about 500,000 tonnes during the period April-June 2021. During peak of the second wave, steel sector had enhanced the LMO production considerably. As against 538 tonnes of LMO supplied on 1 April 2021, the supply of LMO peaked to 4,749 tonnes on 13 May 2021.

    LMO Supplied – 1 April to 25 July

    JSW Steel - 74,695 tonnes

    SAIL - 68,520 tonnes

    Tata Steel - 30,025 tonnes

    AMNS India - 11,865 tonnes

    RINL - 9,947 tonnes

    Kalyani - 6,600 tonnes

    JSL - 3,885 tonnes

    JSPL - 2,963 tonnes

    Vedanta ESL 475 tonnes

    The steel mill wise detail of LMO supplies made puts JSW Steel & SAIL as top suppliers among top 5 steel makers in India, which is commendable. Unexpectedly, Tata Steel & AMNS India supplied much lesser volumes. Also, extremly low LMO supply volume from JSPL, as mentioned by Steel Minister, is surprising

    JSW Steel - 24% capacity share, 38% share in LMO supply

    SAIL - 24% capacity share, 35% share in LMO supply

    Tata Steel - 21% capacity share, 15% share in LMO supply

    AMNS India- 12% capacity share, 6% share in LMO supply

    JSPL - 12% capacity share, 1% share in LMO supply

    RINL - 7% capacity share, 5% share in LMO supply

    Source - Strategic Research Institute
  18. forum rang 10 voda 4 augustus 2021 08:10
    US Decides Final AD Duties on Seamless Pipe Imports

    Following antidumping investigations of seamless carbon and alloy steel standard, line, and pressure pipes from Russia, South Korea and Ukraine, US Department of Commerce has announced the size of the final duties. The final dumping level for seamless pipes from Korea is set at 4.48% for all Korean companies including ILJIN Steel Corporation and 4.44% is the dumping margin with an adjustment to offset export subsidies. For Russian companies, including TMK it is 209.72%, for Ukrainian companies, including Interpipe it is 23.75%. In addition, countervailing duties have been set for all Korean companies in the amount of 1.789%, for ILJIN Steel Corporation at 1.78%, for all Russian companies at 48.38%.

    The duties will be imposed in the event of a positive final decision from the US International Trade Commission. The ITC shall make its decision on August 9 of this year, and the order shall be issued on August 16.

    US Imports

    Russia – 2018 (38,024 tonnes), 2019 (39,634 tonnes), 2020 (11,471 tonnes)

    Korea – 2018 (23,068 tonnes), 2019 (17,112 tonnes), 2020 (15,839 tonnes)

    Russia – 2018 (32,801 tonnes), 2019 (43,667 tonnes), 2020 (38,9741 tonnes)

    Source - Strategic Research Institute
  19. forum rang 10 voda 4 augustus 2021 08:11
    South African Steel Sector Wage Crisis Deepens

    The National Union of Metalworkers of South Arica has called on its more than 360,000 members to prepare for a strike that could see workers in the automotive industry, component supplies, tyre sector, mining, aviation and all ports joining in solidarity. Employer body Seifsa says threat strike action is premature as more talks are scheduled

    Steel and Engineering Industries Federation of Southern Africa announced that its council unanimously agreed to declare a counter-dispute against the National Union of Metal Workers of South Africa after the union rejected a three-year wage proposal. The proposed settlement agreement was tabled during negotiations in late July and included a 4.4% increase this year, a CPI plus 0.5% increase in 2022 and CPI plus 1% increase in 2023. Seifsa's CEO Lucio Trentini said a special phase-in dispensation will be offered to employers who were paying less than the current minimum rates and are not members of an employer organisation that is a party to the main agreement. He said "With Numsa having registered their dispute on 29 July and Seifsa's affiliated employer associations lodging their dispute, the bargaining council, in accordance with its constitution, has scheduled a special management committee meeting on 10 August between all the negotiating parties in order to decide how to break the deadlock.”

    Mr Trentini said Seifsa needed to find the right balance of protecting jobs, ensuring fair wages, and making sure that companies are able to keep their doors open. He said the federation remains committed to continuing negotiations to find common ground.

    This follows a statement in which Numsa announced that it would register a dispute with Seifsa over the ongoing wage negotiations. While Numsa previously demanded a 15% across-the-board increase in a one-year agreement, the union revised this demand to a three-year deal including an 8% increase across the board on actual rates of pay in the first year, as well as 2% plus CPI in each of the following two years, with an improvement factor added in should the 2% increase falls below inflation, with a possibility to open negotiations afresh.

    Source - Strategic Research Institute
  20. forum rang 10 voda 4 augustus 2021 08:11
    Metalloinvest Announces Operational Results for H1 of 2021

    Russian iron ore miner and HBI & steel producer Metalloinvest CEO Mr Nazim Efendiev said “In the first half of 2021, the Company demonstrated stable production and shipment dynamics across its entire product range. We continue actively implementing the modernisation programme and increasing the share of high-quality products in our product mix. The overhaul of the HBI-1 Plant at LGOK was completed in June 2021, the implementation of cycling-flow technology at LGOK is nearing completion and construction of the concentrate beneficiation facility at MGOK is currently underway.”

    In H1 2021, iron ore production amounted to 20.4 million tonnes, increasing by 1.2% YoY. As compared to Q2 of 2020, iron ore production increased by 2.7% YoY to 10.2 million tonnes. Growth was due to the optimisation of maintenance works and improved quality characteristics of the mined iron ore.

    Pellet production remained in line with H1 2020 and amounted to 14.2 million tonnes. Quarterly production also remained almost unchanged and amounted to 7.1 million tonnes, down 0.3% yYoY. In H1 2021, LGOK fully switched to the production of fluxed pellets

    In H1 2021, the Company produced 3.9 million tonnes of HBI/DRI, which is 5.4% lower YoY. The decrease in production was due to the overhaul of HBI-1 Plant at LGOK in Q2 2021

    In H1 2021, Metalloinvest produced 1.2 million tonnes of hot metal, representing a 7.9% YoY decrease in production. The decrease is associated with the composition of Blast Furnaces in operation and start of the reconstruction of Blast Furnace 1 in February 2021. Meanwhile, in Q2 2021, production increased by 5.2% YoY to 0.6 million tonnes, mainly due to the commissioning of Blast Furnace 2 following its modernisation

    Crude steel production amounted to 2.5 million tonnes, decreasing by 2.3% YoY as a result of a reduction in the number of working days and change of production mix.

    Source - Strategic Research Institute
35.173 Posts
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