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

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Aandeel ArcelorMittal AEX:MT.NL, LU1598757687

  • 21,820 14 jun 2024 17:36
  • -0,380 (-1,71%) Dagrange 21,740 - 22,360
  • 4.153.452 Gem. (3M) 2,7M

Nieuws en info hier plaatsen (deel 4)

35.173 Posts
Pagina: «« 1 ... 753 754 755 756 757 ... 1759 »» | Laatste | Omlaag ↓
  1. forum rang 10 voda 22 februari 2018 20:22
    BHPB Commodities outlook

    BHPB announced that Crude oil prices trended higher during the December 2017 half year. Production discipline by OPEC members and non-OPEC participants (the Vienna Group') and strong demand growth contributed to a substantial reduction in the inventory overhang. The tighter market, rising geopolitical tensions, unplanned supply outages, plateauing of the US rig count and extension of Vienna Group production cuts aided market sentiment. A roughly balanced market is forecast for the 2018 calendar year.

    The US domestic gas price was relatively stable as growth in exports, strong power demand over summer and delays to North East pipeline projects helped eliminate the storage surplus relative to the five-year average. We anticipate that the market will return to surplus in the 2018 calendar year, as record US production is facilitated by the start-up of major North East pipelines.

    Copper prices rose over the December 2017 half year. Solid global consumption was underpinned by continued strength in China, in particular from consumer durables. On the supply side, the announcement that China would ban lower- grade copper scrap imports and the potential for supply disruptions due to the large number of upcoming labour negotiations in South America drove sentiment. Over the next few years, the global copper market is expected to remain finely balanced and vulnerable to supply shocks, particularly in the concentrate segment.

    The global steel industry continued its recovery in the December 2017 half year, with production growth led by emerging markets. China's steel supply-side reforms have resulted in a structural improvement in industry profitability. China's steel production growth is expected to moderate in the 2018 calendar year due to a cooling in the housing and automobile sectors. However, the recovery in the rest of the world is likely to continue, with solid demand conditions and lower Chinese steel exports.

    Iron ore prices improved over the December 2017 half year. Demand for high-grade products remained firm on the back of high steel margins, which benefitted from Chinese steel supply-side reforms and winter production restrictions. This has resulted in an elevated price differential between high and low-grade ore price indexes. In the medium to longer term, ongoing Chinese supply-side reforms, the shift of steel capacity to coastal regions and more stringent environmental policies are expected to underpin demand for high-quality seaborne iron ore.

    Metallurgical coal prices strengthened in the December 2017 half year. Chinese demand for higher quality metallurgical coal remained firm throughout the period despite the onset of winter emission restrictions. Additionally, domestic supply was constrained due to safety and environmental concerns. High prices have incentivised additional seaborne supply from the US and Mozambique. In the medium term, China's coal supply-side reforms and environmental considerations will support demand for higher quality metallurgical coal.

    Source : Strategic Research Institute
  2. forum rang 10 voda 23 februari 2018 14:33
    Demand supply balance to boost profitability of steel sector in India - Ind-Ra

    India Ratings and Research (Ind-Ra) has revised the outlook on the steel sector to stable for FY19 from negative in FY18, in view of healthy global and domestic demand growth along with ongoing capacity rationalizations in China. Ind-Ra expects industry participants to exhibit an improvement in operational and financial performance, backed by steady sales realizations and margins, supported by an improved demand-supply balance.

    The agency has also revised its outlook on rated steel entities to Stable for FY19 from Negative in FY18, in view of higher cash flow generation and balance sheet deleveraging, supported by healthy margins, moderate capex requirements. Nonetheless, most players shall continue to have leverage levels higher than the rating medians in their respective rating categories. A few larger players might not deleverage much, due to their committed capital investments. Furthermore, any leveraged buyouts of the stressed assets could delay deleveraging for selective companies, if acquired on balance sheet; however, if the acquisition is structured in separate companies with minimum debt on balance sheet, deleveraging is still possible.

    Ind-Ra believes FY19 will be a year of consolidation for the steel industry; however, some of the stressed assets may take 12-18 months to ramp-up utilization to optimum levels. A turnaround in these stressed assets along with new capacities ramp-up could more or less meet the incremental demand, assuming import-exports levels remain steady. Nevertheless, increasing global trade protectionism could pose risk to exports and put some pressure on the domestic capacity utilization.

    Source : Strategic Research Institute
  3. forum rang 10 voda 23 februari 2018 14:38
    US defense department supports Section 232 tariffs on steel and aluminium

    Reuters reported that the US Defense Department has voiced support for the Trump administration’s bid to impose national security restrictions on imports of steel and aluminium, although it would prefer a system of targeted tariffs and a delay for import curbs on aluminium. US Defense Secretary James Mattis said he was concerned about the potential impact of the proposed measures on U.S. allies, adding that was the reason he preferred targeted tariffs.

    Mattis wrote in an undated memorandum posted on Thursday on the Commerce Department website that “DoD believes that the systematic use of unfair trade practices to intentionally erode our innovation and manufacturing industrial bases poses a risk to our national security. Since direct defence needs account for only about 3 percent of US production, the proposed curbs would not damage the Pentagon’s ability to get steel and aluminium to meet national defence requirements.”

    But while Mattis recommended that the tariffs on steel should proceed, the administration should wait before pressing ahead with the measures on aluminium. He wrote “The prospect of trade action on aluminium may be sufficient to coerce improved behaviour of bad actors.”

    The Commerce Department on Feb. 16 recommended that President Donald Trump impose stiff curbs on steel imports from China and other countries and offered the three options to the president, who has yet to make a decision.

    Source : Reuters
  4. forum rang 10 voda 23 februari 2018 14:41
    Jianlong Beiman commissions high-speed wire rod mill supplied by SMS

    Jianlong Beiman Special Steel Co, Ltd, based in Qiqihar, China, has awarded SMS group a contract to supply core components for a high-speed wire rod mill for quality steel. The centerpiece of the new wire rod mill, which has an annual capacity of 500,000 tonnes, is the ten-stand wire rod finishing block. To comply with the high metallurgical requirements of the finished products, the wire rod mill has been designed for low-temperature rolling.

    This is achieved by installing a cooling and equalizing loop upstream of the block. The rolling schedule includes wire rod with diameters from 5.5 to 25 millimeters, and rebar with diameters ranging from 6 to 16 millimeters, which are finish-rolled at speeds of up to 115 meters per second.

    In addition to the wire rod finishing block, the scope of supply also includes two cantilever compact roughing stands, the group of shears upstream of the block, and the loop laying head including pinch roll unit. What’s more, SMS group is also supplying the design for the LCC® (Loop Cooling Conveyor) with three-fan technology, as well as the coil handling system.

    To allow the plant to be extended at a later date, space has also been set aside for further water boxes and a MEERdrive®PLUS block, ensuring the plant is equipped to handle closer tolerances.

    Source : Strategic Research Institute
    Bijlage:
  5. forum rang 10 voda 23 februari 2018 14:43
    Russel Metals to acquire DuBose Steel

    Russel Metals Inc announced that it has entered into an agreement to acquire the operating assets and facilities of DuBose Steel. DuBose Steel is a full line structural steel service center operation with value-added processing capabilities serving customers along the east coast and south eastern United States from its facilities located in Roseboro and Fayetteville, North Carolina. Revenues for DuBose Steel were approximately CDN$85 million during its last fiscal year. The current management team will remain in place and Tom Harrington will continue to serve as President of DuBose Steel.

    John Reid, President and Chief Operating Officer of Russel Metals stated, "We are extremely pleased to have entered into this agreement with DuBose Steel. DuBose is a strategic fit which will allow us to further expand our United States footprint with a highly regarded and well established steel service center with a veteran management team."

    Tom Harrington, President of DuBose Steel stated "We are very excited to announce that we have entered into this agreement with Russel Metals. We believe our customers will be well- served by this transaction and we are eager to join Russel Metals' team."

    The transaction is expected to close in the second quarter of 2018.

    Source : Strategic Research Institute
  6. forum rang 10 voda 23 februari 2018 14:44
    Latin American steel market recovers in 2017 - Alacero

    Latin American steel association Alacero announced that the figures of production, consumption and trade market during 2017, closed with increases compared to the previous year, reflecting the recovery of the Latin American steel industry. The steel consumption rose 4% and the steel crude and finished production grew 7% and 4%, respectively versus 2016. The regional consumption is supplied by 30% of steel imports, growing one percentage point above 2016 (31%). The trade balance of the region remain negative, despite during 2017 the deficit in tons decreased 2% vs 2016.

    Crude steel - Latin American and the Caribbean recorded 63.9 million tons (Mt) of crude steel in 2017, 7% higher than 2016. Brazil remains as the main producer in the region with 54% of the regional production (34.4 Mt), presenting an annual growth of 10%.

    Finished steel - The region produced 52.9 Mt of finished steel, 4% higher than registered in 2016. Brazil is the main producer with 22.4 Mt, 42% of Latin American output. Mexico was the second with 18.7 Mt, with 35%.

    Finished steel consumption - During 2017, the region reached 67.3 Mt of finished steel consumption, 4% higher versus 2016 (58.7 Mt). Largest increases in consumption -in absolute and percentage terms- were recorded in Mexico (additional 970 thousand additional, an increase of 4%), Brazil (961 thousand additional tons, up 5%), Argentina (754 thousand additional tons, up 18%) and Peru (385 thousand additional tons, up 13%). Conversely, in the same period Venezuela, Panama and Bolivia recorded declines of 22%, 17% and 15%, respectively. From Latin-America’s total steel consumption, 57% corresponds to flat products (37.3 Mt), 41% (26.8 Mt) to long products and 1% to seamless tubes (1.3 Mt).

    Imports - In 2017, Latin America imported 20.6 Mt of finished steel, 4% more than imported in 2016 (19.8 Mt). Of this total, 70% corresponds to flat products (14.4 Mt), 27% long products (5.6 Mt) and 3% to seamless tubes (548 thousand tons). Imports represent 30% of the regional finished steel consumption, which brings about disincentives to the local industry, trade frictions, and threatens jobs.

    Exports - Latin American exports of finished steel reached 9.8 Mt, 12% more than 2016 (8.7 Mt). Of this total, 50% are flat products (4.9 Mt), 41% long products (4.0 Mt) and 9% to seamless tubes (882 thousand tons).

    Trade deficit - During 2017, the region recorded a finished steel trade deficit of 10.8 Mt. This imbalance is 2% lower than the one observed in 2016 (11.0 Mt). During the year, Brazil and Argentina were the only countries to maintain a trade surplus of finished steel, 3.5 Mt and 145 thousand tons, respectively. Contrary, the largest deficit was recorded in Mexico (-5.3 Mt), followed by Colombia (-2.1 Mt), Chile (-1.6 Mt) and Peru (-1.4 Mt).

    Source : Alacero
    Bijlage:
  7. forum rang 10 voda 23 februari 2018 14:45
    Ahvaz Steel workers continue their strike

    Radio Farda reported that 3500 workers of a steel factory started strike for their unpaid wages from 23th January. An independent Iranian labor union has reported that hundreds of steel workers continued to protest on February 21 for the fourth consecutive day outside the governor’s office in the city of Ahvaz. The workers began a strike in January to protest three months of unpaid wages and their demands being ignored by their employer, the Ahvaz Steel Industry Group.

    In addition to unpaid wages, the workers called on their employer to ensure they would receive pay for this month’s work. They also demanded end-of-year bonuses and that the employer’s share of their insurance premiums be paid to the Iranian social security organization. They also demanded that transportation be provided to and from their workplace.

    Based on the labor union’s report, officials at the governor’s office in Ahvaz, the capital of Khuzestan Province, did not respond to the workers’ demands. Subsequently, the workers announced they would continue their strike and refuse to load the factory’s products. The steel workers’ strike started on February 18 with 3,500 workers taking part in the walkout.

    Previously, the union’s channel on social networking platform Telegram had quoted one of the board members of the steel company as saying the factory’s new owners have no money to pay the workers and that they must wait until the Iranian New Year (which starts on March 21) to receive pay.

    Source : Radio Farda
  8. forum rang 10 voda 23 februari 2018 14:47
    POSCO crygonic high manganese steel debuts in LNG bunker tank Ilshin Green Iris

    AME Maritime reported that the new cryogenic high-manganese steel developed by POSCO in Korea has gone into service for the first time in a 500 m3 LNG bunker tank on a bulk carrier. The dual-fuel ship is the 50,000 DWT Ilshin Green Iris, built by Hyundai Mipo Dockyard (HMD) for Ilshin Shipping and chartered to POSCO. The Korean steelmaker will utilise the bulk carrier on a domestic route, transporting limestone from Gangwon-do to Gwangyang.

    Lloyd’s Register and the Korean Register have provided Ilshin Green Iris with dual classification and certification, verifying the vessel’s compliance with the International Code of Safety for Ships using Gases or other Low-Flashpoint Fuels (IGF Code).

    The bulk carrier’s cylindrical bunker tank has been constructed as an IMO Type C pressure vessel unit. It sits athwartships on the aft deck, behind the accommodation superstructure.

    Following more than a decade of research, POSCO developed the high-manganese austenitic steel with the storage and transport of LNG specifically in mind. Of proven strength and cryogenic toughness, the steel can withstand temperatures as low as -196?. Among the steelmaker’s claims for the product is its ease of weldability and a cost 20-30% below the nickel alloy steel, stainless steel and aluminum alloy alternatives.

    High-manganese steel has also shown superiority over existing cryogenic materials in terms of ultimate tensile strength and elongation. In addition, the relatively small thermal expansion coefficient of the steel means that the displacement caused by the temperature changes inherent in cryogenic applications is minimal.

    POSCO’s high-manganese steel was registered as a standard technology with the American Society for Testing and Materials (ASTM) in May 2017. The ASTM stamp of approval means that the steel is recognised as a material that can be safely used worldwide.

    Source : AME Maritime
    Bijlage:
  9. forum rang 10 voda 23 februari 2018 14:49
    Lorain Pig Iron to begin making pig iron at a blast furnace in Lorain are in motion

    Crains Cleveland reported that Lorain Pig Iron LLC, which is owned and operated by Canton-based steelmaker Republic Steel and iron ore producer ERP Iron Ore LLC in Minnesota, recently announced in a news release that it is working with technical service providers to review and submit proposals for the recommissioning of a Republic Steel blast furnace.

    Currently, the company is "negotiating agreements" with Republic Steel and others to recommission and use Blast Furnace 4 in Lorain, the release stated.

    Lorain Pig Iron wants to provide pig iron for electric arc furnace steel and foundry facilities, a goal the release called "a new beginning in U.S. steelmaking."

    The company expects to begin making pig iron in Lorain by the end of 2018, the release stated. When up and running, the furnace is expected to make and distribute more than 1 million tons of pig iron annually to U.S. customers. Lorain Pig Iron is also looking into the possibility of recommissioning Republic Steel Blast Furnace 3.

    Source : Crains Cleveland
  10. forum rang 10 voda 23 februari 2018 16:54
    Delegation from Japanese steel institute visits SHARC furnace plant at Hellenic Halyvourgia

    In December 2017 a delegation from the Iron and Steel Institute of Japan visited the SHARC electric arc furnace plant (Shaft Arc - electric arc furnace with scrap preheating in the shaft) at Hellenic Halyvourgia (HLV) in Volos, Greece. Hellenic Halyvourgia was founded in 1938 and is one of the country’s largest electric steel producers for long products. The delegation comprised 19 representatives of eight Japanese electric steel producers. It was headed by Shigehiro Oi, Director, Member of the Board, Managing Executive Officer of Sanyo Special Steel.

    The delegation was welcomed by Andreas Metzen, Technical Director of Hellenic Halyvourgia. He and his team of engineers showed the delegation around the electric steel plant.

    The delegation was organized with the aim of exchanging ideas and information on the cost-effective production of steel, with special emphasis on steel production with low-grade scrap in the SHARC electric arc furnace.

    The SHARC at HLV is a 54-MW direct-current electric arc furnace with a tapping weight of 100 tons. It features two symmetrically arranged preheating shafts for drying and preheating the scrap. Other available scrap preheating systems are asymmetrical and have just one shaft. The design of the SHARC, however, generates a fully symmetrical distribution of heat, meaning that also in the furnace shell the heat distribution is homogeneous, producing minimum thermal load.

    Especially the SHARC’s unique two-shaft design, which doubles the available volume, allows the use of inexpensive, low-density scrap. The shafts with the built-in post-combustion systems make the furnace not only highly productive and efficient, but also easy on the environment. With a potential charge of up to 65 percent of hot briquetted iron (HBI) in the shafts, the SHARC can also be used for the production of high-quality long and flat products.

    The delegation observed several heats using the SHARC process with low-density scrap of 0.25 tons per cubic meter. The SHARC features the most economic and efficient scrap preheating technology of all electric arc furnace types. It is the only electric arc furnace in the world operating with two shafts. Thus it can be charged with the least expensive scrap available in Greece, currently at a purchase price of USD 15 per ton. The price advantage varies depending on where in the world the scrap is purchased. In Turkey, for example, the same scrap grade costs around USD 30, in certain regions of China up to USD 50 per ton.

    Over the past ten years, in Greece the market volume for long products has decreased from 2.2 million tons to 350,000 tons annually. Nevertheless, Hellenic Halyvourgia has been able to maintain its profitability thanks to liquid steel production in the SHARC furnace.

    The SHARC achieves maximum energy savings compared to conventional electric arc furnaces - without any coal in the charge. With less than 280 kilowatt hours and an electrode consumption rate of 0.57 kilograms per ton of liquid steel, the SHARC process is a very cost-effective steelmaking route. Not only that, due to the symmetrical design of the SHARC, the coal rate for foaming slag is only nine kilograms per ton.

    Source : Strategic Research Institute
  11. forum rang 10 voda 26 februari 2018 16:17
    Staalproductie China loopt iets terug

    Gepubliceerd op 26 feb 2018 om 15:46 | Views: 222

    ArcelorMittal 16:00
    28,52 +0,33 (+1,15%)

    BRUSSEL (AFN) - De staalproductie in China is in januari licht afgenomen ten opzichte van een jaar eerder. Dat blijkt uit cijfers van de internationale brancheorganisatie World Steel Association (WSA). Wereldwijd ging de staalproductie wel iets omhoog.

    Het is voor het eerst in tijden dat er een daling is te zien in de staalproductie in het grote Aziatische land. De 64 landen die hun cijfers doorgaven aan de WSA waren samen goed voor een productie van 139,4 miljoen ton staal. Dat was 0,8 procent meer dan een jaar eerder. Iets minder dan de helft van het totaal (67 miljoen ton) kwam uit China, waar de productie met 0,9 procent terugliep. Het cijfer over China betreft overigens een schatting door de WSA.
  12. forum rang 10 voda 26 februari 2018 16:29
    US president favors harshest tariffs on steel and aluminum - Report

    Bloomberg quoted three people familiar with the matter as saying that US President Donald Trump has told confidants that he wants to impose the harshest tariffs on steel and aluminum imports recommended by the Commerce Department. Trump has said he wants to slap a global tariff of 24 percent on steel imports, the most severe of three options presented to him in a report in January. He is also considering as much as a 10 percent duty on all aluminum entering the US, which would be more than 2.5 percentage points higher than the harshest of Commerce’s recommendations.

    White House spokesman Raj Shah said in a statement that “As with every decision he makes, the security of the American people and the American economy will be the president’s primary concerns while he considers his potential options.. President Trump is committed to achieving fair and reciprocal trade relationships that protect the American worker and grow our economy.”

    The Commerce Department concluded in a report last month that steel and aluminum imports imperil US national security. Commerce recommended a range of options for the president, including imposing tariffs for certain nations and setting import quotas. Trump has until April 11 to make a decision on steel and April 19 for aluminum.

    Source : Bloomberg
  13. forum rang 10 voda 26 februari 2018 16:30
    JSW close to buying Aferpi in Italy - Report

    PTI, citing a source, reported that JSW Steel is close to acquiring Italy-based Aferpi (Acciaierie e Ferriere di Piombino), formerly known as Lucchini SpA, for INR 600 crore. The source told “The deal is almost finalised. Most probably by the end of March or the beginning of April, it will be final.The deal is worth about INR 600 crore.”

    As per report “JSW Steel has been in talks with Algeria-headquartered Cevital Group on the acquisition for the last six months and is expected to make an announcement after closing the deal early next month.”

    Aferpi makes specialty long products for railways, bars for auto industry parts and earthmoving vehicles and is the second-largest steel maker in Italy.

    The company has been for long trying to have a facility in the European region.
    Earlier, too, JSW Steel had tried to acquire the Italian asset in 2014 when it was known as Lucchini. But Algerian conglomerate Cevital acquired Lucchini and renamed it Aferpi.

    Source : PTI
  14. forum rang 10 voda 26 februari 2018 16:31
    Liberty House moves NCLT against rejection of Bhushan Power bid

    Mint reported that Liberty House Group, the UK-based metals company controlled by Sanjeev Gupta, has requested the National Company Law Tribunal (NCLT) to uphold the validity of its bid for Bhushan Power and Steel Ltd. In a petition to the tribunal, Liberty House claimed that its bid, which was rejected last week without opening, is valid as it was submitted within the 270-day time frame stipulated by the insolvency and bankruptcy code (IBC). The matter will be heard on Monday.

    Liberty House confirmed the development. “Our request is that at least the bid should be opened and evaluated before being rejected. The law allows for bid submission within the 270-day period from the date of admission of the stressed account for insolvency proceedings and we have done that. In fact, we submitted the bid before other bids were opened.”

    Liberty House has also contended that the committee of creditors should have the ultimate right to reject the bid and not the resolution professional.

    The bid was rejected by the legal team of the interim resolution professional (IRP) without opening as it was submitted on 20 January, much after the 8 February deadline set by the IRP for submission of bids. Liberty House approached NCLT on 22 February following the rejection.

    Two other bidders who submitted the bids for Bhushan Power include JSW Steel Ltd and Tata Steel Ltd. Both had submitted bids before the deadline.

    The case filed by Liberty House is likely to set a benchmark for other cases. So far, bidding deadlines are not sacrosanct and can be changed by the resolution professional (within the 270-day period), allowing a last-minute entry for a resolution applicant. A direction from the court may offer some clarity on permissibility of a last-minute applicant.

    Source : Mint
  15. forum rang 10 voda 26 februari 2018 16:32
    BS CEO of the Year award goes to Mr Sajjan Jindal

    Business Standard reported that Mr Sajjan Jindal, chairman and managing director of the JSW group, is turning out to be a beacon of entrepreneurship for the rest of Corporate India at a time when the economy is going through a slowdown. Betting on the future of India’s steel industry, Jindal’s JSW Steel has emerged the number one player with a capacity of 18 million tonnes per annum, overtaking the century-old Tata Steel. Jindal is now eyeing similar high-octane growth in the cement sector, where he plans to double his company’s capacity via acquisitions.

    Jury, chaired by industry veteran Mr RC Bhargava, met last week to select the best of India Inc. He said that “The jury deliberated for a long time to choose the CEO of the Year. It was a hard decision, considering there were so many good companies on the list. The statistics provided by Business Standard showed outstanding financial performance of all the shortlisted companies in trying times.”

    The other members of the high-profile jury were former State Bank of India Chairman Arundhati Bhattacharya, BCG Asia-Pacific Chairman Janmejaya Sinha, Cyril Amarchand Mangaldas Managing Partner Cyril Shroff, Bain Capital Private Equity MD Amit Chandra, EY India Chairman & Country Managing Partner Rajiv Memani, and Marico Chairman Harsh Mariwala.

    Mr Mariwala said that “The CEO of the Year award goes to Sajjan Jindal as he has steered the JSW Group at a very difficult time. He was leading from the front and was very aggressive on expansion plans, on the jury’s choice of Jindal.”

    All jury members agreed that while financial ratios were important for making the first cut, equal importance had to be given to individuals who focused on innovation and built institutions when challenges in the external environment were severe. Besides statistics, the jury discussed qualitative aspects affecting companies, industry, and the business environment.

    Source : Business Standard
    Bijlage:
  16. forum rang 10 voda 26 februari 2018 16:32
    Mr LN Mittal meets Mr Jaitley on Essar Steel bid

    Business Standard reported that Mr Lakshmi Mittal of ArcelorMittal conveyed 'serious interest' in acquiring the financially beleaguered Ruia company in a meeting with Union finance minister Arun Jaitley. Mr Mittal said that "I think we can create value in Essar Steel with our experience.”

    As per report, Mr Mittal said that "We have placed a well-planned bid for Essar Steel. No bid was rejected by the Resolution Professional, from what we've heard."

    The meeting came two days after reports that ArcelorMittal and Numetal Mauritius had been disqualified from bidding under the insolvency resolution process.”

    Source : Business Standard
  17. forum rang 10 voda 26 februari 2018 16:34
    BlueScope announces strong H1 results

    BlueScope announced a AUD 441.2 million reported net profit after tax (NPAT) for 1H FY2018, including one-off benefits of AUD 84.2 million2 – a 23% or AUD 82.1 million increase on 1H FY2017. Underlying NPAT3 was AUD 321.1 million.

    Australian Steel Products

    Delivered underlying EBIT of $261.7 million. The result was down five per cent on the same time last year, after excluding the $32.1 million benefit from the settlement of the historical coal supply dispute. Volumes and export coke margins improved, however this was offset by lower realised steelmaking spreads and higher costs, particularly energy.

    Demand for premium branded coated and painted product continues to be strong. The team is pursuing a number of specific inter-material product and innovation opportunities in new markets.

    The Australian steelmaking business has done an excellent job in boosting profitability in the last three years. The business delivered good results in 1H FY2018, however we must not be complacent in our pursuit of continued productivity improvements particularly having regard to energy cost pressures. We need to deliver returns necessary to support a decision in 10 to 15 years to reline the blast furnace.

    Speaking at his first results as Managing Director and CEO, Mark Vassella said the Company had delivered strong shareholder returns with a very positive EBIT performance and a $150 million extension of the buy-back.

    He said “Solid underlying EBIT of $516.8 million in 1H FY2018, is similar to the result for 2H FY2017. With business performance and economic conditions improving particularly towards the end of the half and with the benefit of the recent $32.1 million coal supply dispute settlement, the final result was better than expectations. We continue to see the benefits of our strategic initiatives flowing through to the bottom line, and our businesses are generating strong cash earnings. Net debt at 31 December 2017 was $262.1 million, reduced by over 50 per cent from 31 December 2016. The leverage multiple4 at 31 December 2017 was 0.2 times EBITDA.”

    The Chairman, Mr John Bevan, said “The Board was pleased to approve the return of $340 million to shareholders during CY2017 through dividends and the on-market buy-back, while at the same time investing capital in growth and reducing net debt. In light of the Company’s strong cash position, the Board has approved the payment of a partially franked interim dividend of 6.0 cents per share. As well, the Board has extended the on-market share buy-back by a further $150 million. The Board believes the buy-back achieves an appropriate balance between retaining strong credit metrics, continuing to fund our growth opportunities and returning cash to shareholders.”

    Source : Strategic Research Institute
  18. forum rang 10 voda 26 februari 2018 16:35
    United Brothers Holding orders plant for the production of billets from Danieli

    United Brothers Holding -which has its core business in Kurdistan, in the oil and gas sector- awarded Danieli with the order for a new steelmaking plant. The plant will be installed within an existing building in the industrial area of Khor Al Zubair, near Bassora. The new steelmaking plant will have a production capacity of 500,000 tpy of billets.

    It consists of a 70-t Electric Arc Furnace, a 70-t Ladle Furnace equipped with ladle lifting system to avoid crane engagement for ladle transfer car exchange, a material handling system serving EAF and LF with ferroalloys and additives, and a fume dedusting plant filtering both EAF and LF. A 9-m radius Continuous Caster Machine, will produce 150x150 mm square billets on four strands.

    Danieli will provide all technological equipment including Danieli Automation L1 and L2 automation systems, as well as advisory service for erection and plant startup.

    In order to reduce CapEx one of the main issues of the meltshop rehabilitation is the recovery of the existing civil works infrastructures.

    A team of specialists will perform a detailed mapping the overall site in 3D to help future design.

    The preassembly of the several parts also is foreseen in order to reduce the erection activities.

    United Brothers Holding will act as agent for the Iraqi Ministry of Industry, which will manage the entire minimill plant.

    Project execution will take less than two years with production startup expected by Summer 2019.

    Source : Strategic Research Institute
    Bijlage:
  19. forum rang 10 voda 26 februari 2018 16:36
    JSW Steel set to buy Monnet Ispat for INR 3,750 crore - Report

    Economic Times reported that in the first resolution of an NPA account on RBI's first list, JSW Steel is all set to buy debt-ridden Monnet Ispat for INR 3,750 crore. The deal will be first such resolution of an NPA account on RBI's first list. Monnet Ispat lenders are believed to have got favourable legal opinion to sell the company to JSW.

    The report further said that JSW Steel may announce takeover of Monnet Ispat on Monday.

    Lenders had sought legal opinion on the matter, given close family ties between promoters of Monnet Ispat and JSW, ET Now reported.

    Monnet Ispat faces claims of INR 10,359 crore from financial creditors and INR 116 crore from operational creditors.

    Source : Economic Times
  20. forum rang 10 voda 26 februari 2018 16:37
    SAIL chairman visits Bhilai Steel Plant

    The Pioneer reported that Mr PK Singh, Chairman, Steel Authority of India Limited (SAIL), accompanied by Raman, Director (Technical) and senior officers from SAIL Corporate Office, New Delhi visited Bhilai Steel Plant (BSP), the flagship unit of the SAIL on Saturday. Upon his arrival at Bhilai Niwas, Singh was accorded a warm welcome by senior members of BSP Management team. He reviewed a guard of honour by CISF. Singh visited Mahamaya - the new Blast Furnace-8, Steel Melting Shop-III and Universal Rail Mill.

    He followed the visit by holding review discussion on production issues with the senior management of Bhilai Steel Plant at Ispat Bhawan. Thereafter, he also reviewed the projects. Present on this occasion were Raman, Director (Technical) SAIL, M Rave, CEO, AK Mather, ED (Projects), Recta Bannerjee, ED (MM) and senior officers of SAIL Corporate Office and Bhilai Steel Plant.

    Source : The Pioneer
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