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Home  /  Forum  /  Arcelor Mittal  /  Nieuws en info hier plaatsen (deel 4)

Aandeel ArcelorMittal AEX:MT.NL, LU1598757687

Laatste koers (eur) Verschil Volume
21,440   -0,050   (-0,23%) Dagrange 21,150 - 21,630 1.620.946   Gem. (3M) 2,5M

Nieuws en info hier plaatsen (deel 4)

Volgen
35.173 Posts
Pagina: «« 1 ... 435 436 437 438 439 ... 1759 »» | Laatste | Omlaag ↓
  1. forum rang 10 voda 13 juli 2016 17:03
    Roy Hill ramp-up sees Australia’s iron miners ship record volumes during June

    Gina Rinehart’s Roy Hill Holdings said that its namesake iron ore project remains on target to hit full production by the end of the year, after loading 12 shipments in the month of June.

    The first shipment of iron ore from the $10 billion Pilbara project departed Port Hedland on December 10, 2015. After a slow start, the project’s ramp-up appears to be on track to reach a 55 million tonne a year output target after a significant increase in shipments over the past few months.

    A Roy Hill spokesman said that the project loaded 12 ships in the month of June, following 10 ships in May, six in April, four in March and two in December.

    The spokesman said that “Roy Hill is ramping-up production smoothly and as previously advised we continue to work to achieve the target of an annualised nameplate capacity run rate of 55 million tonnes per annum by the end of 2016.”

    It is understood Roy Hill loads about 170,000 tonne capacity ships, which means that it was running at an annualised run rate of about 24.5 million tonnes in the month of June – almost half its target.

    Roy Hill is 70 per cent owned by Mrs Rinehart’s Hancock Prospecting, with the remaining 30 per cent held by Posco, Marubeni Corporation and China Steel Corporation.

    Macquarie analysts said in May the ramp-up had been “faster than we were expecting”, but despite this, the project was unlikely to meet its end-of-year target.

    Macquarie said that “We still expect a 40 million tonne per annum average shipment rate to be achieved in the December quarter. Based on previous ramp-up profiles, achieving 70 to 75 per cent of capacity usually occurs quickly; however, the ramp-up to full production can take up to two years, which is our base case for Roy Hill.”

    The complex project missed a long-held target to ship its first ore by September 30 due to construction delays. The project’s head contractor, Korea’s Samsung C&T, said in January it would book about a $1 billion loss on the contract.

    Last week, Spanish subcontractor Duro Felguera suspended any ongoing obligations to Samsung on claims it is owed more than $100 million by the Korean giant and had not yet received a certificate of “practical completion” for its work on the project, even though Samsung had received its own sign-off from Roy Hill.

    Roy Hill’s shipping figures were reinforced by strong June shipping data from Port Hedland Port released on Monday that showed a record volume of iron ore shipped through the port.

    After a slow start to 2016, 41.8 million tonnes were shipped through the port in the 30 days of June. The previous record was set in March, when 39.53 million tonnes were shipped.

    The results show the sector has fully rebounded from the cyclone and wet weather that plagued the Pilbara in January, when iron ore exports slumped to their lowest since mid 2014. Those interruptions prompted BHP Billiton to cut its export guidance from 270 million tonnes to 260 million tonnes for the 2016 financial year.

    BHP, Fortescue Metals Group, Gina Rinehart’s Roy Hill and Atlas Iron ship their iron ore through Port Hedland.

    Port Hedland statistics do not reflect the shipments of the nation’s biggest iron ore exporter, Rio Tinto, which has its own port about 220 kilometres south-west at Cape Lambert.

    Source : The Sydney Morning Herald
  2. forum rang 10 voda 13 juli 2016 17:24
    ArcelorMittal rondt terugkoop obligaties af

    Staalreus kocht voor circa 583 miljoen dollar aan obligaties terug.

    De obligatiehouders van ArcelorMittal hebben voor circa 583 miljoen dollar aan obligaties aangeboden aan de staalgigant. Dit meldde het concern woensdagmiddag.

    In juni meldde het concern voor maximaal 600 miljoen euro aan obligaties terug te willen kopen.

    De desbetreffende obligaties hebben een looptijd tot achtereenvolgens 1 juni 2020, 5 augustus 2020 en 1 maart 2021.

    Van de obligatie met een looptijd tot 1 juni 2020 werd in totaal ter waarde van circa 113 miljoen dollar aan waardepapier aangeboden. De obligatiehouders van de lening die aflost op 5 augustus 2020 boden in totaal ter waarde van ruim 146 miljoen dollar aan obligaties aan. Onder de lening die afloopt op 1 maart 2021 werd voor circa 323 miljoen dollar aan waardepapier aangeboden.

    ArcelorMittal bracht het bod op de obligaties uit om de schuldpositie van het concern te verlagen.

    Het aandeel ArcelorMittal noteerde woensdag richting het slot 0,8 procent lager op 5,07 euro.

    Door: ABM Financial News.

    Info@abmfn.nl

    Redactie: +31(0)20 26 28 999

    Copyright ABM Financial News. All rights reserved

    (END) Dow Jones Newswires
  3. forum rang 10 voda 13 juli 2016 19:55
    'Tot 4000 arbeidsplaatsen weg bij combinatie ThyssenKrupp'

    Vrees voor banen bij Tata Steel

    door Wouter van Bergen

    Amsterdam - Vakbond FNV en de centrale ondernemingsraad (cor) van Tata Steel in IJmuiden vrezen het verlies van duizenden banen als plannen doorgaan om de Europese staalactiviteiten van Tata in Europa samen te voegen met het Duitse Thyssen-Krupp.

    Volgens FNV-bestuurder Aad in ’t Veld en cor-voorzitter Frits van Wieringen worden tot wel 4000 ondersteunende functies bedreigd als de staalreuzen hun krachten in Europa bundelen. Dat Tata en ThyssenKrupp over het samenvoegen van hun Europese staalactiviteiten in gesprek zijn, werd afgelopen vrijdag door beide partijen bevestigd.

    Volgens bonden en medezeggenschapsorganen bij Tata in IJmuiden is het gevaar levensgroot dat er duizenden banen in IJmuiden zullen sneuvelen als de plannen doorgaan. „Het gaat absoluut banen kosten”, zegt Van Wieringen.

    Ondersteunende functies

    „Als dit soort bedrijven hun krachten bundelen, dan zullen ze de revenuen daarvan zoeken in het schrappen van functies die dubbel zijn. Dat zijn vooral banen in de ondersteunende functies als inkoop, verkoop, financiën en ict”, zegt Van Wieringen.

    „En dat gaat niet om een paar functies, maar om duizenden banen bij Tata. Die zullen niet allemaal van het ene op het andere jaar verdwijnen, maar op de lange termijn denk ik wel in die aantallen.”

    FNV-bestuurder In ’t Veld vreest dat ook dit soort ondersteunende functies in IJmuiden hard getroffen worden. „Dat er productiebanen verdwijnen, daar zijn we niet bang voor. Zeker niet na de honderden miljoenen die men pas heeft aangekondigd in IJmuiden te investeren.”

    Baangarantie

    Ondersteunende banen zouden echter naar Duitsland kunnen verdwijnen. „Bij ThyssenKrupp werkt 28.000 man, en daar is een baangarantie afgesproken tot 2020. Dat willen wij hier ook”, zegt In ’t Veld. Bij Tata Steel in IJmuiden zijn ruim tienduizend mensen werkzaam, waarvan er vijfduizend direct betrokken zijn bij de productie van staal.

    Volgens een woordvoerder lopen de bonden en medezeggenschapsorganen op de zaken vooruit. „De gesprekken die we voeren verkeren nog in een pril stadium. Het staat nog lang niet vast of we samengaan, welke vorm die samenwerking krijgt, laat staan wat daar de consequenties van zullen zijn.”

    'Pure speculatie'

    De woordvoerder zegt de onrust onder werknemers van het bedrijf ’natuurlijk’ te snappen, maar noemt berichten over aantallen ontslagen zijn ’in dit stadium pure speculatie’. Volgens de woordvoerder worden medezeggenschapsorganen en bonden goed op de hoogte gehouden van de voortgang, maar is er gezien het ’prille stadium’ waarin gesprekken zouden verkeren, nog te weinig over mede te delen.

    Cor-voorman Van Wieringen en bondsbestuurder In ’t Veld denken daar anders over: „We hebben begrepen dat ze al sinds januari in gesprek zijn en het enige dat we vrijdag horen is een bevestiging dat ze met elkaar in gesprek zijn. Wij willen zo snel mogelijk met de directies van de mogelijke fusiepartners om tafel om mogelijke consequenties voor het personeel te kunnen bespreken”, zegt In ’t Veld.

    Concurrentie

    De staalindustrie in Europa heeft het zwaar onder concurrentie uit China, waar tegenvallende economische groei zorgt voor overschotten op de staalmarkt waarvan een deel richting Europa wordt verscheept.

    De gesprekken over een mogelijke samenwerking met ThyssenKrupp was voor Tata Steel aanleiding om de zoektocht naar een koper voor de Britse staalactiviteiten in Wales, waar 11.000 mensen werkzaam zijn, voorlopig te staken. Er waren er op dat moment zeven gegadigden voor de fabrieken in Port Talbot en Llanwern.

    Of de Britse activiteiten ook worden opgenomen in de combinatie van de IJmuidense fabriek van Tata en ThyssenKrupp staat nog niet vast. Een garantie voor de verouderde staalproductieactiviteiten in Port Talbot wilde Tata Steel deze week niet geven. De beslissing van de Britse bevolking om de Europese Unie te verlaten, speelt volgens het bedrijf daarbij vooralsnog geen doorslaggevende rol.

    Bron: DFT Premium
  4. forum rang 10 voda 14 juli 2016 16:22
    Bright times are predicted for Hartlepool steel mills – Mr with Rickhuss

    Hartlepool Mail reported that a union chief has suggested that Hartlepool’s steel mills could have a bright future if they are sold off as long as they have the right vision and investment. Mr Roy Rickhuss, General Secretary of the steelworkers’ union Community, responded to news that two of the pipe mills, in Brenda Road, Hartlepool – where 500 people are employed – will be put up for sale, along with the South Yorkshire-based Speciality Steels business.

    He said “Nither the speciality business nor two of the Hartlepool tube mills are part of the Port Talbot supply chain, so an argument could be made that they could have a successful future on their own with the right vision and investment.”

    But Mr Rickhuss called for Tata to recognise the anger and frustrations that workers must be feeling. He spoke of the new approach for the future of Tata’s steel operations in the UK, to sell of the speciality business, and said the test would come in “the next steps that Tata takes.”

    But he added “Tata must also recognise the level of frustration, even anger, among the workforce over these delays and uncertainty. It is vital that they work with Community to reassure and protect the greatest asset to the business – its people.”

    He said “As regards the speciality business and the operation in Hartlepool, as we have said before, Tata needs to be a responsible seller, upholding its moral and social responsibilities to those steel communities.”

    He added “The sales process must test both the intentions and capabilities of any potential bidders, Tata must allow Community direct access to any bidder and there should be no further fragmentation of these businesses. Neither the speciality business nor two of the Hartlepool tube mills are part of the Port Talbot supply chain, so an argument could be made that they could have a successful future on their own with the right vision and investment.”

    Mr Rickhuss suggested selling the Hartlepool operation may not be the best way forward, and there were significant advantages to being part of a larger steel group. Indeed, this has been an important factor in sustaining these businesses in recent years.

    Source : Hartlepool Mail
  5. forum rang 10 voda 14 juli 2016 16:23
    Damen builds next generation of offshore service vessels with ArcelorMittal steel

    In February 2016, global shipbuilder Damen cut steel for the first of its new class of service operation vessels (SOVs). The new vessels will offer ‘walk to work’ capabilities for personnel who service offshore energy facilities. ArcelorMittal Europe – Flat Products is supplying over 2,000 tonnes of plate for the initial vessel to be named the Bibby WaveMaster 1. The Damen SOV is specifically designed as a service vehicle for offshore wind farms and oil and gas fields, particularly those farther from shore. “Wind turbines are getting bigger and energy providers are building them further out to sea than ever before,” notes René Hooijman, SOV project manager for Damen. “As a result they need bigger vessels which can stay out to sea for longer.”

    Source : Strategic Research Institute
    Bijlage:
  6. forum rang 10 voda 14 juli 2016 16:26
    World’s first MultiFlex-Quench® successfully commissioned by SMS group at Acroni in Slovenia

    The new heavy-plate heat treatment line supplied by SMS group for Acroni in Slovenia consists of an innovative MultiFlex-Quench® and two roller hearth furnaces. On June 30th, 2016, the MultiFlex-Quench® newly developed by SMS group has successfully produced its first heavy plate in the Acroni plant in Jesenice, Slovenia. This goal has already been reached two days in advance of the scheduled date. Plate flatness was excellent right from the start. Two powerful roller hearth furnaces are further key components of the new heavy-plate heat treatment line at Acroni. The plant was supplied completely by SMS group and it is designed to produce at least 80,000 tons of heavy plate per year.

    Source : Strategic Research Institute
    Bijlage:
  7. forum rang 10 voda 14 juli 2016 16:27
    Indian steel companies may undo overseas acquisitions - Report

    Business Standard reported that In the last 10 years, almost all large Indian steel companies like JSW Steel, Tata Steel, Essar Steel and Jindal Steel & Power have made costly overseas acquisitions. With the global business climate continuing to look grim, Indian steel companies could undo overseas acquisitions and focus at home where consumption trends are relatively encouraging.

    Last week, Essar Steel Minnesota filed for bankruptcy protection in the US. In 2007, Essar had said it would set up a $1.8-billion unit in Minnesota, but scaled down from a taconite steel mill to a pellet plant after the 2008 financial crisis. The project was scheduled to start production in 2014 but cheap China steel has made production unviable.

    Tatas are now struggling to retain their presence in Europe. Tata Steel is in talks for a joint venture with German ThyssenKrupp for its European operations. Tata Steel’s deliveries in the region have dropped to 13 million tonnes in 2015-16, from 23 million tonnes in 2008-09.

    Welspun Pipes, which includes the US subsidiary’s operations, reported a loss of $7.1 million in 2014-15, against a profit of $9.9 million in 2013-14 as the top line declined and costs increased.

    JSW Steel, whose $1 billion US acquisition continues to be EBITDA negative, took a non-cash write-down of nearly Rs 100 crore in 2014-15.

    Coal mines of the Naveen Jindal-led Jindal Steel & Power in Mozambique and South Africa have reported losses in the year ended March, says the company’s annual report for 2015-16. The Delhi-based company's Oman plant, on the other hand, earned a profit of Rs 6.18 crore in 2015-16.

    With steel consumption in India expected to pick up and an ample gap between per capita consumption and the global average, there is scope for steel producers in India.

    Source : Business Standard
  8. forum rang 10 voda 14 juli 2016 16:28
    Mexico extends tariff on steel tubing imports from the US

    Mexico extended a tariff on imports of steel carbon pipes from the United States on Monday and announced a separate tax on ferromanganese from South Korea, in moves to protect local production.

    A resolution, published in the official gazette by the Economy Ministry, extended a tax of 6.77 percent on pipe imports manufactured by Berg Europipe Holding Corporation and a tax of 4.04 percent for imports made by Berg Steel Pipe Corporation. It also extended a separate tax of 25.43 percent for imports from all other US steel companies.

    The tariffs, which apply to steel pipes with straight longitudinal seams, will be extended until May 2020.

    Separately, the Economy Ministry announced a provisional tax of 35.64 percent on imports of ferromanganese, a steel deoxidizer, coming from South Korea, amid an investigation into price discrimination.

    Source : Reuters
  9. forum rang 10 voda 14 juli 2016 16:31
    Brazil starts anti dumping probe on import of steel wire from China

    Brazil's Foreign Trade Ministry announced launch of an antidumping investigation of imports of steel wire originating in China on petition by Brazilian steel wire producer Belgo Bekaert, a JV ArcelorMittal and NV Bekaert. The product under investigation is the high-carbon steel wire of high strength, circular section, with smooth or notched surface, typically identified under HS codes 7217.10.19 and 7217.10.90

    Source : Strategic Research Institute
  10. forum rang 10 voda 14 juli 2016 16:32
    Manufacturing outlook and steel consumption in India – Mr Shushim Banerjee

    Mr Sushim Banerjee DG of INSDAG in his personal capacity wrote for Financial Express that although the global PMI for manufacturing at 50.4 denotes positive outlook on the sector propelled by higher PMI at Germany, Italy and the US, India is also showing a relatively strong positive signal of PMI in June at 51.7 basis positive outlook of order position including exports. Hopefully, the rating agencies would wait for sometime more for evaluating other indicators before jumping into a lower projection of GDP for India. It must be appreciated that in a federal structure of ours, devolution of substantial portions of government expenditures has percolated to the states and from the state to districts and panchayats.

    The changing face of rural and semi-urban India speaks elaborately of the decentralised development, making a paradigm shift in quality of life indices.

    To what extent the benefits of these developmental activities in the form of good roads, electricity, pucca houses, clean water, minor irrigation, primary schools and health centres are reflected in the macro indicators that form the basis of GDP calculation is an altogether different subject for the experts to decide.

    In terms of segment-wise growth, it is seen that manufacturing growth of 2.0% in FY16 was contributed largely by apparel, chemicals and pharmaceuticals, auto and rubber. The steel intensive segments in basic metals, machinery and equipment, motor vehicles and other modes of transport observed growth rates of 1.0, 2.3, 7.5 and 1.3%, respectively. The construction sector (both residential and industrial) has grown by 3.5% in the last year which was lower than FY15. This had resulted in pulling down the consumption growth of bars and rods (TMT, wire rods and rounds) at 5.6%, structurals at 1.2% and pipes at 0.8% (transportation of oil, gas and sewerage).

    The demand for railway materials led by rails that had seen a 6.2% rise in last year would continue to increase in the next few years with DFC, doubling of lines in secondary routes and Metro Rail expansion. Higher consumption of CR sheets/Coils (by 19.6%) resulted from 7.5% growth in automobile and consumer durables (output growth by 11.2%) while growth in HRC/Sheets at (-) 6.6% was indicative of subdued growth in tubes and pipes segment.

    The indigenous steel industry was, however, denied the benefits of growth in consumption of plates (9.2%) and CR that went to the large exporters in China, South Korea and Japan.

    In the first three months of the current fiscal, steel consumption that rose by 2.8% in April-May ’16 has dropped to (-) 4.3% in June leading to pulling down the overall growth to 0.3% only. In June, while non-alloy steel consumption dropped by 2.2%, the alloy and stainless steel went down by as high as 20.0%. It is interesting to note that imports that went down by 30.7% in the first quarter of the current fiscal over the corresponding period of last year did not leave enough space for the domestic producers as has been predicted by many. The finished steel availability from indigenous sources went up be a meagre 3.8% in the period as the market absorption was limited to this extent only. he competitive pressure on prices proved beyond doubt that demand growth was minimal.

    For the first six months of 2016, steel consumption in the country has gone up by 2.1% against 5.4% growth for the full year projected in the short range outlook of WSA. To achieve this by the year-end, Indian steel consumption needs to grow at 8.7% in the remaining six months of 2016.

    The challenge is difficult, not insurmountable. The industry has a major role to play to promote higher use of steel in public and private investment.

    Source : Financial Express
  11. forum rang 10 voda 14 juli 2016 16:33
    State owned BaoSteel to slash 25% capacity by 2018 in supply side reform in China

    Reuters reported that China's second biggest steelmaker Baosteel Group plans to cut its production capacity over the next two years as it pursues supply-side reform. Baosteel's announcement comes as the Chinese government works to reduce capacity gluts in the steel and coal sector.

    As per report “Baosteel pledged to cut 9.2 million tonnes of crude steel capacity between 2016 and 2018 equivalent to about one-quarter of its 2015 production.”

    The capacity shutdowns will include facilities in its flagship plant in Shanghai and branches outside of the city. The company will not resume production after the closures, it noted.

    Baosteel's cutbacks follow a statement by the State-owned Assets Supervision and Administration Commission on Friday that China's government-run steel and coal companies will cut capacity by about 10 percent in the next two years and by 15 percent as of 2020.

    Source : Reuters
  12. forum rang 10 voda 14 juli 2016 16:39
    Ontario Steel Investment signs LoI with United Steelworkers Local 2251

    Ontario Steel Investment Limited announced that it has signed a letter of intent with the United Steelworkers Union, Local 2251, to negotiate the framework of an acquisition of Essar Steel Algoma Inc by Ontario Steel. Under the agreement, Ontario Steel will assume all employer liabilities under Algoma's defined benefit registered pension plans as well the liabilities for Algoma's Other Postemployment Benefits (OPEBs). Ontario Steel will also continue the current OPEB coverage for both active and retired employees. The agreement assumes a total purchase price for Algoma of approximately US$900 million.

    Source : Strategic Research Institute
  13. forum rang 10 voda 14 juli 2016 16:40
    Tata Steel wants speciality steel bids this week - Report

    Sky News reported that Tata Steel has given bidders for a division employing more than 1,500 people just days to table offers, even as the rest of its British workforce faces months of uncertainty about the company’s future ownership. Sky News has learnt that parties interested in buying Tata's speciality steel unit, which includes five UK manufacturing sites, have been told to table indicative proposals by 15 July.

    The timetable suggests that Tata Steel wants to secure a rapid disposal of the speciality business.

    Workers at Tata's vast Port Talbot steelworks, meanwhile, may not learn the outcome of negotiations about a joint venture with another major European steelmaker until the autumn.

    The speciality business, which is the world's third-largest manufacturer of steel for the aerospace industry, counts Airbus, Boeing and Rolls-Royce among its customers. It employs close to 2,000 people at sites in Rotherham and Stocksbridge, as well as service centres in Bolton, Rotherham, Xian in China and Nagpur in India.

    The speciality steel auction has been given the codename Project Sabre, and is being run by KPMG, the accountancy firm.

    According to documents sent to potential bidders, the unit comprises "a world-class fully-integrated speciality steel and bar business", according to a person close to Tata Steel. The documents forecast a turnaround in the fortunes of the division, with an £81.4m pre-tax loss in the year to March 2016 expected to become a £32.9m profit by the end of its 2018-19 financial year.

    Source : Sky News
  14. forum rang 10 voda 14 juli 2016 16:41
    Mr Naidu appeals to Russian steel major NLMK for investments in AP

    Express News Service reported that after convincing China’s steel major, Ansteel Engineering Technology Corporation Limited to invest in the state during his tour of the Communist nation last month, AO Chief Minister N Chandrababu Naidu on Tuesday made a similar appeal to Novolipetsk Steel, one of the four largest steel companies in Russia.

    Mr Naidu, who held a series of meetings with Russian officials and industrialists on Tuesday, met director of electrical steel division of NLMK Valery Shevelev, who informed him that the company is looking for possibilities of expansion in India and is keen to invest USD 1 billion. NLMK, primarily produces flat steel products, semi-finished steel products and electrical steels.

    With Mr Naidu getting a positive response from the company, he urged the company director to visit AP and have a first hand information about the facilities and natural resources available in the state to set up steel industry, According to a press release issued by the CMO. The Chief Minister even directed the State Economic Development Board officials to coordinate with the officials of NLMK to materialise the proposal.

    In a slew of bilateral meeting held at Yekaterinburg, Naidu met Governor of Sverdlovsk Evgency Kuivashev, and expressed his keenness to set up a Russian-Indian industrial cluster in AP. The governor assured Naidu that he would be sending a delegation to AP to study the proposed project. Later, during interaction with member of the Management Board First Vice-President from Gazprombank Yan V Tsenter, Naidu urged the company to come and explore opportunities in AP. Gazprombank group works in fields of finance, petrochemicals, and heavy machinery industries and media business.

    Source : Express News Service
  15. forum rang 10 voda 14 juli 2016 16:42
    Privatisation Commission bars PSM from selling scrap

    The Dawn reported that in what appeared to be a last blow, the Privatisation Commission has stopped Pakistan Steel Mills from selling its scrap and product inventory being used to meet day-to-day expenses. Chairman privatization Mohammad Zubair wrote to the secretary of Industries and Production that “PSM may refrain from sale of any inventory, including scrap and strictly adhere to the content of my letter of Jan 14, 2016.”

    Pakistan’s largest industrial unit is already on “zero production heat mode” since its gas supply was drastically cut on June 10, 2015 (more than 13 months now) while its competitors around the world make roaring business having more than $3 billion steel imports into Pakistan in fiscal year 2015-16. The zero production mode has pushed PSM losses and liabilities beyond PKR 385 billion that stood around PKR 200 billion when Pakistan Muslim League-N government assumed power in May 2013 elections.

    Since January this year, the monthly pay bill of the company has been scaled down to about PKR 380 million from around PKR 600 million through gradual reduction in its staff strength. The salaries are generally being paid to the staff with 4-6 month delay on humanitarian grounds out of federal budget as a loan. The February-March 2016 salaries were approved by the Economic Coordination Committee of the Cabinet just ahead of Eidul Fitr.

    This came when the Ministry of Industries and Production, the parent ministry of the PSM, allowed the PSM’s interim management to sell its scrap to meet its day-to-day unavoidable expenses.

    Source : The Dawn
  16. forum rang 10 voda 14 juli 2016 16:42
    Union leaders to debate UK steel future post 'Brexit'

    ITV reported that Community, the steelworkers’ union, is meeting with key industry figures in Westminster. A Westminster Hall debate in Parliament will examine how the ‘Brexit’ vote will impact upon the UK steel industry. Workers from steelworks across the UK will travel to London to attend the debate and to speak directly with politicians about the concerns of those on the front line of the industry - following the referendum.

    Mr Roy Rickhuss, the Community’s General Secretary, says he is seeking to do 'everything possible' to ensure that steelworkers’ jobs and Britain’s steelmaking capacity are protected.

    He said “It’s good that steel MPs are continuing to challenge the government and hold it to account for the commitments that ministers have made to steelworkers and their families. Community’s reps are attending the debate today to hear first-hand from MPs and ministers about what impact the Brexit vote might have on their industry. Given the ongoing uncertainty for the industry following the referendum result, now is the time for ministers to re-affirm the action that they will take to secure the future of steel making in the UK.”

    Source : ITV
  17. forum rang 10 voda 14 juli 2016 16:43
    Tata Steel to further expand Kalinganagar steel plant to 6 million tonnes

    Mint reported that Tata Steel Ltd has invested more than INR 25,000 crore in its greenfield steel project in Kalinganagar in Odisha and has plans for further expansion and once the two phases of the Kalinganagar project are fully operational, Tata Steel’s current capacity will increase from 10 million tonnes to 16 million tonnes.

    Mr TV Narendran managing director of Tata Steel India and South East Asia said “Despite financial troubles at its European operations, Indian operations have got all the funds that it has asked for from the Tata Steel board.”

    “Even as recently as four years ago, there was nothing much in Kalinganagar. Today it is buzzing with activity and this is just the beginning. The operation has the potential to become, in a decade, bigger than the Jamshedpur plant. Kalinganagar is one of the biggest Make in India stories,” Narendran said.

    In an interview to Tata.com, Narendran said Kalinganagar was a huge challenge for Tata Steel, but he did not disclose about further expansion or the amount envisaged for the expansion.

    He said “To be fair to Tata Steel Board, the Indian operation has got all the funds that it has asked for. Last year was a difficult one for Tata Steel India as our Ebitda was 19%. This compares well with leading companies not only in our industry but in other industry sectors as well.”

    He admitted that South East Asia was hurt badly following the crisis in China and the firm’s operations in NatSteel (of Singapore) and Tata Steel Thailand were also affected owing to the same. He said “But NatSteel has emerged from the experience a leaner and more agile organisation, and so has Tata Steel Thailand.”

    He said Kalinganagar was a great case study for Tata Steel as before the company started work there, it assumed that just because it’s from the Tata group, everybody would welcome them. He said “Those villagers in and around Kalinganagar did not know of the legacy and history of the Tatas. Many of them got misled and were susceptible to being exploited. A key learning from Kalinganagar is that if we want to develop a greenfield site, we have to first build equity and a relationship with the local community. Also, it’s not just about creating jobs but about encouraging job creators. You have to help local youth become entrepreneurs as well because a single steel plant cannot meet all the job aspirations of the local community.”

    Tata Steel conceived this plant in 2005-2006 but work was delayed owing to land acquisition problems and could start only in 2010. The delay increased the project cost that now stands at INR 25,000 crore in the first phase. The first phase of the project of 3 million tonnes was commissioned in 2016.

    Source : Mint
  18. forum rang 10 voda 14 juli 2016 16:44
    US sets preliminary subsidy rates on Chinese stainless steel sheet and strip products

    The US Commerce Department on Tuesday announced its preliminary affirmative determination in a countervailing duty investigation against imports of stainless steel sheets and strips from China, signaling that it may pose punitive duties on the products. On July 12, 2016, the Department of Commerce (Commerce) announced its affirmative preliminary determination in the countervailing duty (CVD) investigation of imports of stainless steel sheet and strip from the People’s Republic of China (China).

    Source : Strategic Research Institute
    Bijlage:
  19. forum rang 10 voda 14 juli 2016 16:47
    US deliberately misread WTO rules in steel trade cases – China

    China’s Ministry of Commerce said on Wednesday the US deliberately misinterpreted World Trade Organization rules after the US Commerce Department found in favor of subsidy rates for Chinese steel. MOFCOM said in a statement it is strongly unsatisfied with the decision, and it will use the WTO dispute settlement process to defend its interests.

    It added “The US has levied high taxes on Chinese stainless steel, cold-rolled steel, corrosion-resistant steel plate and other goods, which served as a man made obstacle and an effective rejection of Chinese steel products.”

    It added “China will use the World Trade Organization dispute settlement process to defend its interests over an unreasonable decision by the United States on steel subsidies.”

    The US Commerce Department found in favor of anti-dumping measures for imports of stainless steel sheet and strip from China and said it had set a preliminary subsidy rate of 57.30 percent for a Chinese steel manufacturer, according to a preliminary finding released on Tuesday.

    Source : Reuters
  20. forum rang 10 voda 14 juli 2016 16:47
    EU to use all defenses against China steel exports – Mr Juncker

    European Commission head Mr Jean-Claude Juncker said that the bloc would use all possible means to protect itself from a flood of Chinese steel imports blamed for turmoil in global markets. He said "The EU will defend its steel industry. We are not defenseless, and we will use all the means at our disposal. There is a clear link between China cutting steel overcapacity and the EU granting it market economy status.”

    China has been pressing the EU to grant it the status, which would make it harder for the bloc to levy anti-dumping tariffs, before the year's end, citing World Trade Organization rules. Mr Juncker said that the EU had not made up its mind on the matter, but would do so following an impact assessment.

    Chinese steel exports to the EU rose 28% in the first quarter of this year, while prices dropped by more than 30%, he cited official statistics as saying.

    The Commission chief spoke after an annual EU-China business summit, where he hailed a "new era of bilateral relations", but added it "must take into account the importance of steel around the world."

    China, which makes more than half the world's steel, is widely accused in Europe of dumping its production on world markets and violating trade agreements at the expense of local jobs.

    Source : Rappler.com
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