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Aandeel ArcelorMittal AEX:MT.NL, LU1598757687

  • 23,600 25 apr 2024 11:07
  • -0,040 (-0,17%) Dagrange 23,500 - 23,690
  • 464.627 Gem. (3M) 2,5M

Nieuws en info hier plaatsen (deel 4)

35.173 Posts
Pagina: «« 1 ... 882 883 884 885 886 ... 1759 »» | Laatste | Omlaag ↓
  1. forum rang 10 voda 2 november 2018 16:35
    ArcelorMittal SA reports Q3 results

    ArcelorMittal South African has reported slight improvements in sales and production volumes in the September quarter. ArcelorMittal SA said the total amount of steel it sold during the September quarter rose by 3.5% to 1.1 million tonnes from the matching quarter in 2017. The amount of steel it sold locally increased by 2.8% to 887,000 tonnes while the amount it exported increased by 6.4% to 215,000 tonnes. Export growth outpacing local sales was thanks to strong international demand and a weaker rand against the dollar

    ArcelorMittal SA said “It used 85% of the capacity of its steelworks during the September quarter versus 81% during the third quarter of 2017.”

    Source : Strategic Research Institute
  2. forum rang 10 voda 2 november 2018 16:36
    EU imports of semi finished product up by 1pct - EUROFER

    Total imports, including semi-finished products, rose by 1% YoY over the first eight months of 2018. Including SURV2 data for September, finished product imports grew by 10% YoY over this period as a result of a 40% YoY increase in long products imports and a 2% rise of flat product imports. Monthly fluctuations have been significant so far this year with particularly high volumes in the second quarter and moderation in August and September. Over the first nine months of 2018, the main countries of origin for finished steel imports into the EU market were Turkey, Russia, South Korea and China. These five countries represented 64% of total finished steel imports into the EU. Imports from Turkey and Russia remained on a strongly rising trend over this period.

    Imports from Turkey grew by 57% YoY, owing to a 40% increase in flat product imports and a 100% rise in long product imports.

    Imports from Russia rose by 56% YoY, as the result of a 65% rise in flat products and a 40% jump in long product imports.

    Imports from China rose by 10% year-on-year over the first nine months of 2018, owing to a 2% increase in flat products imports and a 40% rise in long product imports

    Imports from South Korea were 11% up compared with the same period of 2017, due to a 9% rise in flat product imports and a 63% increase in long product imports.

    Other countries of origin for imports into the EU that showed a marked increase in actual volumes were Vietnam, with a growth of 138% YoY over the first nine months of 2018, Japan with a 55% rise, and Taiwan with a 46% increase.

    Imports by product category

    Total imports of flat products grew by 2% YoY over the first nine months of 2018; import volumes edged somewhat lower in recent months compared with higher levels in the first and second quarter. Underlying trends at the individual product level became gradually more aligned.

    Tin mill product imports registered the strongest rise (27% YoY) over the first nine months of 2018, whereas imports of coated sheet and quarto plate were 5% respectively 7% lower than in the same period of 2017.

    In contrast to the only slight rise in flat product imports, long product imports increased sharply over the first nine months of 2018.

    Imports of heavy sections registered the strongest rise and were 80% higher than in the same period of 2017. Imports of rebar grew by 59% year-on-year and imports of merchant bar by 49% year-on-year. The increase in wire rod imports was with 21% year-on-year less strong but still significant.

    Source : Strategic Research Institute
  3. forum rang 10 voda 2 november 2018 16:37
    CoC of Bhushan Power & Steel violated Aug 6 order of NCLAT- Tata Steel

    Financial Express reported that Tata Steel on Thursday told the National Company Law Appellate Tribunal (NCLAT) that the committee of creditors (CoC) of Bhushan Power and Steel (BPSL) had violated its August 6 order, which gave permission to all prospective bidders to improve their financial bids without changing basic parameters, by allowing JSW Steel to revise its bid thrice even after the deadline ended. Senior counsel Abhishek Manu Singhvi, appearing on behalf of Tata Steel, also expressed doubt with the quality of the process followed by the CoC in identifying the most preferred bidder for the bankrupt firm. Singhvi urged the NCLAT to consider directing the National Company Law Tribunal to take up the BPSL resolution matter for approval only after the adjudicating authority decides on the CoC’s conduct and its permissibility.

    Tata steel alleged that while there were no details of upfront payment in JSW Steel’s August 13 bid placed before the CoC, in the subsequent bid placed, just a day after, details were mentioned. Had there been no details with regards to the upfront payment, JSW Steel would have scored less in the evaluation matrix. By allowing JSW Steel to change its bid, the CoC gave it undue chances to revise its bid after declaring Tata Steel as the highest bidder, Singhvi had earlier said.

    Source : Financial Express
  4. forum rang 10 voda 2 november 2018 16:44
    Trump Trade War - Internal watchdog launches audit of tariff waivers

    CNBC reported that the Commerce Department's internal watchdog has launched an audit of waivers that companies have received from tariffs on foreign steel and aluminum. The agency's system for granting such exclusions has come under heavy fire. The tariffs were imposed in late May, and Commerce was initially overwhelmed by companies seeking relief from the 10 percent tariff on aluminum and 25 percent tariff on steel. Nearly 50,000 requests for exclusion have been filed so far. In addition, a New York Times analysis found that Nucor and United States Steel, two major domestic steel companies with strong ties to the Trump administration, successfully blocked hundreds of company requests. The NYT also reported that Commerce granted a waiver to Rusal America, the domestic division of a Russian firm that was under US sanctions. Commerce eventually reversed its decision.

    The chaotic process caused an uproar on Capitol Hill, with lawmakers calling for reforms. Even Republican senators have questioned the usefulness of the tariffs and highlighted the collateral damage in other sectors of the American economy.

    Democratic Sen. Elizabeth Warren had called for the Commerce inspector general to open an investigation into the exclusion process. Her office reviewed 900 submissions submitted in the first month of the process and found that 81 percent of the waivers granted were to foreign-owned firms. It also discovered the exclusion for Rusal.

    The inspector general's announcement did not provide a timeline for the audit. The notice said it will evaluate whether Commerce followed proper procedures in granting the exclusions and whether the decisions were made in a "consistent and transparent manner."

    Source : CNBC
  5. forum rang 10 voda 2 november 2018 16:45
    US lowers provisional tariffs on South Korean HR steel

    KBS News reported that US has significantly lowered its preliminary retaliatory tariffs on South Korean steel products. The US Commerce Department on Wednesday issued a preliminary ruling on Posco’s hot-rolled steel plates, lowering provisional tariffs from 57.04% to a mere 1.73%.

    A similar measure was implemented for Posco’s cold-rolled steel plates earlier. Initially, the US department planned to impose 59.72% tariff on the products, but a provisional decision last month lowered it to 4.51%.

    The U.S. plans to make final decisions next year.

    Source : KBS News
  6. forum rang 10 voda 2 november 2018 16:46
    Stronger upturn in order books spurs output and employment growth in India in October - Nikkei India Manufacturing PMI

    Manufacturing sector growth in India gathered momentum in October as firms responded to stronger order inflows by scaling up production, input purchasing and employment. Price gauges continued to point to upward inflationary pressures, but were similar to September's readings. Inventory trends varied, with companies utilising stocks of finished goods to satisfy greater demand whilst rebuilding their input holdings. Rising from 52.2 in September to 53.1 in October, the Nikkei India Manufacturing Purchasing Managers Index highlighted the joint- strongest upturn in the health of the sector in 2018 so far. Moreover, the current growth spell was stretched to 15 months. Ongoing improvements in demand, coupled with technological advancements and favourable market conditions, prompted a stronger upswing in production. The rate of output growth was the second-highest registered in the year-to-date, with accelerations evident in the consumer, intermediate and investment goods sectors.

    New orders increased solidly during October, which panellists attributed to successful advertising efforts, strengthening underlying demand and competitive price setting. The rise was the fastest since June.

    Whereas growth of total new orders gathered pace, the upturn in export sales cooled at the start of the fourth quarter. The expansion was the weakest in three months and below the long-run series average.

    Manufacturers stepped up hiring in October, with job creation the strongest since last December. In turn, businesses were able to lower their outstanding business volumes for the second straight month.

    October data showed a fifth successive monthly rise in quantities of purchases. The expansion was broadly similar to the moderate pace noted in September. Anecdotal evidence suggested that ongoing growth of new work underpinned the increase in buying levels. At the same time, vendor performance was broadly unchanged.

    Amid reports of higher prices for chemicals, energy and metals, average cost burdens increased further. The rate of inflation was marked and broadly in line with its long-run average. Some manufacturers passed part of the additional cost burden on to their clients by hiking their charges. That said, the rate of selling price inflation was mild in the context of historical survey data and much weaker than seen for costs.

    Trends for stocks differed, with a fall in holdings of finished goods contrasting with accumulation of input inventories. The former was associated with the immediate dispatch of products to clients, while the latter was linked to the purchasing of additional materials amid higher demand.

    Indian manufacturers were confident that output will be higher over the course of the next year, with sentiment underpinned by planned R&D investments and marketing initiatives. That said, optimism was stymied by concerns towards future market conditions. The overall level of positivity was at a 20-month low.

    Commenting on the Indian Manufacturing PMI survey data, Pollyanna De Lima, Principal Economist at IHS Markit and author of the report, said “Manufacturing continued to make up for ground lost in August, with a robust and accelerated rise in new orders boosting production growth in October. Consumer, intermediate and investment goods output all increased at stronger rates. A combination of domestic and foreign orders fuelled the upturn in overall activity, although export orders displayed the slowest expansion since July whilst total new work rose at the sharpest pace since mid-year. Purchasing activity expanded further, impacting on suppliers’ delivery capabilities. Competition for some scarce raw materials also rose, causing further increases in input prices and weaker stock accumulation. The trend for employment was particularly encouraging, with job creation at a ten-month high. Firms sought to increase their competitive edge, with marketing activity and investment in research and development, which meant business sentiment, remained positive. However, goods producers see challenges and uncertainties ahead, which in turn translated into the weakest degree of optimism seen in 20 months.”

    Source : Strategic Research Institute
  7. forum rang 10 voda 2 november 2018 16:47
    ArcelorMittal completes transaction to acquire Ilva S.p.A. and launches ArcelorMittal Italia

    ArcelorMittal announced that AM Investco Italy Srl’s transaction to acquire Ilva S.p.A. has completed. ArcelorMittal is the principal partner in AM Investco with a 94.4 per cent equity stake in the consortium, with Banca Intesa Sanpaolo holding 5.6 per cent. AM Investco’s lease and purchase agreement is effective from today 1st November 2018. Following completion of the transaction, ArcelorMittal has now assumed full management control of Ilva, which will form a new business cluster within ArcelorMittal Europe - Flat Products and be known as ArcelorMittal Italia.

    Mr Lakshmi Mittal, Chairman and CEO, ArcelorMittal, said “Closing the acquisition of Ilva is an important strategic step for ArcelorMittal. Ilva is a quality asset that provides a unique opportunity to expand and strengthen our European presence by acquiring Europe’s single-largest steelmaking site. It is a compelling value creation opportunity for ArcelorMittal, that fits our objective of selectively investing in growth projects where we can leverage our operating expertise to grow Ebitda and free cash flow over the long-term. We have a strong history of rehabilitating under-performing assets. I am confident that we will prove successful in restoring Ilva’s operational, financial and environmental performance and, in doing so, create value for our company, Ilva’s stakeholders and the Italian economy.”

    Source : Strategic Research Institute
  8. forum rang 10 voda 2 november 2018 16:48
    Chinese production stagnates in October - Caixin China General Manufacturing PMI

    Operating conditions in China's manufacturing sector were little-changed from the previous month in October. Production was broadly unchanged, as total new business rose only slightly. Subdued sales were partly linked to weaker foreign demand, with export sales declining for the seventh month in a row. Relatively soft market conditions contributed to a further drop in workforce numbers, albeit modest, while buying activity rose only slightly. Furthermore, confidence regarding the business outlook for output dipped to an 11-month low. The headline seasonally adjusted Purchasing Managers Index, a composite indicator designed to provide a single-figure snapshot of operating conditions in the manufacturing economy, rose only slightly from 50.0 in September to 50.1 in October. This signaled that operating conditions were broadly unchanged at the start of the fourth quarter, after stagnating in the previous month. Prior to September, the health of the sector had improved for 15 consecutive months.

    After rising in the preceding 27 months, manufacturing production in China was little-changed in October. According to panelists, output schedules were largely unchanged due to relatively subdued market demand.

    After stagnating in September, total new orders expanded slightly in October. According to panelists, sluggish market conditions had dampened client demand, with some firms also citing reduced foreign demand. The amount of new export business fell for the seventh month running in October, though the rate of decline softened from September.

    Employment fell again in October, thereby extending the current sequence of job shedding to five years. That said, the rate of reduction was the slowest seen since May. Lower workforce numbers were often linked to company down-sizing plans and staff retirements. However, a combination of payroll cuts and insufficient production led to a further modest rise in backlogs of work.

    October survey data pointed to a renewed increase in buying activity among Chinese manufacturers. Reflective of the trend for new orders, however, the rate of expansion was marginal. Consequently, stocks of purchased items rose only slightly. Stocks of finished items meanwhile declined for the sixth month in a row, albeit marginally.

    The time taken for purchased inputs to be delivered to manufacturers continued to lengthen in October. The rate at which vendor performance deteriorated was slightly quicker than seen in September.

    Prices data signaled a further squeeze on operating margins as input costs continued to rise at a faster rate than output charges. Notably, the rate of cost inflation accelerated to the second-sharpest in nine months.

    Although firms were generally optimistic that output would increase over the next year, sentiment dipped to an 11-month low amid concerns over current subdued market conditions and the impact of the ongoing China-US trade dispute.

    Commenting on the China General Manufacturing PMI™ data, Dr. Zhengsheng Zhong, Director of Macroeconomic Analysis at CEBM Group said “The Caixin China General Manufacturing PMI edged up to 50.1 in October from the month before. The subindexes for new orders and employment both edged higher, with the former remaining in expansionary territory and the latter in contractionary territory. The subindex for new export orders also recovered despite staying in negative territory, just off a more than two-year low in September. However, the output subindex dropped for the second straight month despite remaining in positive territory, which was in line with the recent significant drop in value-added industrial output despite the rise in manufacturing investment. This may indicate that investment was largely driven by demand related to environmental protection or technological transformation which reflects manufacturers’ production outlook over the next 12 months, stayed in positive territory but dipped further, suggesting ongoing low business confidence.The subindexes for output charges and input costs both stayed in positive territory, with the former falling and the latter climbing, indicating that upward pressure on the prices of industrial products remained. The sub indexes for stocks of finished items and those of purchased items both rose marginally, with the former in negative territory and the latter in positive territory, pointing to a stable demand for manufactured goods. The subindex for suppliers’ delivery times fell in October following a rise in the previous month and stayed in negative territory, implying ongoing pressure on capital turnover among goods producers. Overall, expansion across the manufacturing sector was still weak. Production and business confidence continued to cool despite stable demand. The pressure on production costs didn’t ease. China’s economy has not seen obvious improvement.”

    Source : Strategic Research Institute
  9. forum rang 10 voda 2 november 2018 16:52
    ArcelorMittal hits fresh hurdle over GPI dues - ET

    ET reported that Mr Jalesh Grover, the resolution professional of GPI Textiles, filed an interlocutory application at the Ahmedabad bench of the National Company Law Tribunal (NCLT) that says LN Mittal’s company is not eligible to bid for Essar Steel since GPI Textiles has about INR 485 crore in unpaid dues. Grover’s lawyer said ArcelorMittal’s resolution plan should therefore be disqualified under Section 29(A) of IBC. Grover filed the petition against Essar Steel resolution professional Satish Kumar. Nipun Singhvi, an Ahmedabad-based lawyer representing Grover, said “NCLT technically cannot approve ArcelorMittal’s bid without hearing the interlocutory application.”

    GPI resolution professional’s application “It is humbly submitted that Shri Pramod Mittal and Vinod Kumar Mittal are real brothers of Shri LN Mittal (who is ultimate shareholder/ promoter of the Arcelor Mittal India Pvt Ltd) and are the promoters as per June 2018 filings at BSE of the company called Gontermann-Piepers (India) Ltd, a company incorporated under the provisions of the Companies Act.”

    The move raises the prospect of another twist in the Essar Steel resolution process, which kicked off about a year ago. ArcelorMittal had said on October 26 that it had been declared the highest bidder. The Ruias, Essar Steel’s erstwhile promoters, then made an unexpected pitch to retain the asset, offering to repay all dues.

    A person close to ArcelorMittal however said that a similar argument, raised by rival contender Numetal, had been dismissed earlier. A person close to ArcelorMittal told ET “The company has already said on several occasions that there is absolutely no connection between ArcelorMittal’s eligibility and the businesses of Mr Mittal’s brothers. The fact that the CoC has approved ArcelorMittal’s acquisition of Essar Steel and issued a letter of intent demonstrates that ArcelorMittal has done what was required to satisfy the eligibility criteria."

    Source : ET
  10. forum rang 10 voda 2 november 2018 16:54
    Chinese steel mills’ profits in 9M up by 86pct YoY

    Global Times reported that according to a report, members of China Iron and Steel Association (CISA) have achieved profits of CNY 229.97 billion (USD 33.1 billion) from January to September this year, a YoY increase of 86%. The report said that member companies' profitability have surpassed the average level of the country's industrial sector and that the industry reversed the long-term losses

    CISA has a total of over 100 steel mills members.

    Source : Global Times
  11. forum rang 10 voda 2 november 2018 16:56
    AcelorMittal reports third quarter 2018 and nine months 2018 results

    ArcelorMittal announced results for the three-month and nine-month periods ended September 30, 2018. Mr Lakshmi N. Mittal, ArcelorMittal Chairman and CEO, said “As anticipated market conditions in the third quarter remained favourable, resulting in significantly improved EBITDA for the first nine months compared with 2017. We continue to see robust real demand and healthy utilization rates across all steel segments. We continue to make good progress with the implementation of our Action 2020 plan, which will improve the performance of our existing business and targets further growth in higher added value products. We are also expanding our business through the execution of a targeted and disciplined strategy to create long-term value. Within 6 months of taking ownership of Votorantim we have captured a significant amount of synergies, and have strengthened our long steel business in Brazil. We are confident we will be similarly successful in integrating and delivering rapid improvement at Ilva, Europe’s single largest integrated steel-making facility, which completed today. And in India, we have recently been named the successful bidder for Essar Steel which provides a unique opportunity to establish a meaningful production presence in the world’s fastest growing steel-market. The progress the industry and our Company has made is significant but we remain cognizant of the challenges, including continued global overcapacity, and we remain concerned with the high level of imports in various markets. We continue to prioritize net debt reduction and a strong balance sheet to ensure we can prosper in all market conditions.”

    Highlights:

    Health and safety: LTIF rate of 0.62x in 3Q 2018 as compared to 0.71x in 2Q 2018 and 0.67x in 3Q 2017

    Operating income in 3Q 2018 decreased to $1.6 billion (which includes $0.5 billion impairment primarily related to the Ilva remedy assets sale) as compared to $2.4 billion in 2Q 2018, 26.9% higher YoY

    EBITDA of $2.7 billion in 3Q 2018, 11.2% lower as compared to $3.1 billion in 2Q 2018, primarily reflecting lower steel shipments (-5.5%) and the negative impact from hyperinflation accounting in Argentina ($0.1 billion); 3Q 2018 EBITDA up 41.8% YoY

    Net income of $0.9 billion in 3Q 2018 as compared to $1.9 billion in 2Q 2018 and $1.2 billion in 3Q 2017

    Crude steel production of 23.3Mt in 3Q 2018, up 0.5% vs. 2Q 2018 and down 1.4% vs. 3Q 2017

    Steel shipments of 20.5Mt in 3Q 2018, down 5.5% vs. 2Q 2018 and down 5.4% vs. 3Q 2017

    3Q 2018 iron ore shipments of 14.2Mt (-5.6% YoY), of which 8.5Mt shipped at market prices (-6.1% YoY)

    Financial highlights (on the basis of IFRS):

    Zie pdf

    Source : Strategic Research Institute
    Bijlage:
  12. forum rang 10 voda 2 november 2018 16:59
    NLMK Group recognized as leader in procurement digitalization

    NLMK Group, a global steel company, has topped the ‘Leader in Procurement Process Digitalization’ nomination of the 'Competitive Procurement Leader' Award. The Award Ceremony was held in Moscow at the Russian ‘Corporate Procurement 2018’ Summit. The Jury applauded NLMK Group’s achievements in the digitalization of procurement. Currently over 90% of tender procedures of the Company are done through e-tendering using SAP SRM software. A wide range of projects is underway to further automate procurement processes.

    The ‘Competitive Procurement Leader' Award is a professional competition in the field of trading and procurement. The mission of the competition is to create visibility for the most significant projects in procurement that boost business efficiency and contribute to developing the entire market. 188 Russian companies from all sectors of the economy took part in the competition. The Award’s Community Board made up of 70 independent experts in procurement named the winners in 11 nominations.

    Source : Strategic Research Institute
    Bijlage:
  13. forum rang 10 voda 2 november 2018 17:00
    Steel tube industry remained subdued - EUROFER

    In the second quarter of 2018, production activity in the steel tube industry remained subdued as the temporary demand boost from large pipeline projects – which had supported the order book of EU manufacturers in 2017 – has been drying up. In the second quarter of 2018, output in the steel tube industry fell by 1.7% year-on-year. Revised figures for production in the first quarter of 2018 show a similar year-on-year contraction in output. In particular production activity in Germany registered a sharp drop, while output in Poland and France also fell compared with the same period of 2017.

    Steel tube industry growth the second quarter of 2018
    As expected, the EU steel tube sector registered a contraction in production activity in the first half of 2018, as order books for large welded tubes have been steadily shrinking. Due to the absence of a significant new demand boost for EU producers from the international pipeline markets, the performance of the EU steel tube sector now depends more strongly on demand for small and medium-sized welded tubes and seamless tubes. Due to its focus on the manufacture of large welded tubes for pipeline purposes, production activity in Germany registered a significant decline in the first half of 2018. The situation in the other EU countries was more favourable owing to the relatively strong performance of the main downstream client sectors of smaller diameter welded and seamless steel tubes, such as automotive, metal goods, mechanical engineering and construction. Improving global drilling activity was supportive to demand for Oil Country Tubular Goods.

    Total EU steel tube output is estimated to have risen by 1% year-on-year in the third quarter of 2018.

    Steel tube industry forecast 2018-2019
    In 2018, steel tube production activity in the EU is forecast to stagnate around the level seen in the previous and register only very moderate growth in 2019. While the outlook for smaller sized welded and seamless tubes from the main downstream user segments is rather favourable, prospects for large welded tubes are uncertain.

    Apart from some smaller pipeline projects such as the Poland-Slovakia gas pipeline, demand from other major projects is expected to remain subdued.

    In the EU, the Nord Stream 2 gas pipeline with Russia is leading to political tensions as the European Commission argues that the project undermines its push for greater energy independence. Moreover, the US is demanding the EU end the project and is threatening to impose sanctions to reach that goal. This reduces the likelihood of EU companies benefitting from new future project activity.

    Meanwhile, import pressure on steel tube markets in the EU remains high with clear evidence of unfair competition practices by several third country suppliers. This is reflected by the recent decision of the European Commission to impose anti-dumping duties on imports of seamless pipes and tubes from Russia and Ukraine.

    The European Commission also initiated an anti-dumping proceeding concerning imports of welded tubes, pipes and hollow sections from the former Yugoslav Republic of Macedonia, Russia and Turkey.

    Source : Strategic Research Institute
  14. forum rang 10 voda 2 november 2018 17:00
    New In-gate at Balacheruvu inaugurated at RINL VSP

    RINL-Visakhapatnam Steel Plant has built a new in-gate at Balacheruvu to facilitate smooth movement of heavy vehicles entering the plant to transport the iron & steel, By- products from the plant. Sri P Raychaudhury, Director (Commercial) RINL inaugurated the new In-gate today. He mentioned that RINL is always framing its marketing policies suit to the requirements of the customers and improve further customer satisfaction. The new facility will streamline the vehicle entry, reduce the vehicle retention time and improve the dispatch movement faster.

    Mr OR Ramani, ED(Works) I/c, Sri R Nagarajan, ED(Services), Sri SK Chakrabarti, ED(Marketing), Sri Irfan Ahmad, Senior Commandant, CISF, senior officials of marketing and others participated.

    Source : Strategic Research Institute
  15. forum rang 10 voda 2 november 2018 17:11
    SBI withdraws bankruptcy petition against Uttam Galva Steels - Report


    Mint reported that the State Bank of India has withdrawn an insolvency petition against Mumbai-based Uttam Galva Steels Ltd. On Thursday, Meghna Rajadhyaksha, partner at law firm Shardul Amarchand Mangaldas, representing SBI, informed the tribunal that the lender has decided to withdraw the petition. The NCLT, presided by VP. Singh and Ravikumar Duraisamy, accepted SBI’s request.

    SBI’s move came after ArcelorMittal paid INR 7,469 crore to clear outstanding debts of Uttam Galva and KSS Petron, two companies in which Lakshmi Niwas Mittal had been a promoter. ArcelorMittal cleared the debts to become eligible to bid for debt-laden Essar Steel Ltd.

    SBI filed the bankruptcy petition against Uttam Galva after the company defaulted on INR 1,486 crore of its total outstanding of INR 1,832 crore. The Mumbai-based listed steel company’s total dues stood at INR 6,880 crore as of September 2017.

    Source : Mint
  16. forum rang 10 voda 2 november 2018 17:14
    Metinvest announces Q3 & 9M results

    Metinvest BV, the parent company of a vertically integrated group of steel and mining companies, announced its operational results for the third quarter and nine months ended 30 September 2018.

    Operational Highlights:

    Zie pdf

    METALLURGICAL SEGMENT

    In 3Q 2018, Metinvest’s hot metal output dropped by 9% q-o-q to 1,943 kt due to planned major overhauls of blast furnaces at the Mariupol steelmakers. Production at Ilyich Steel fell by 104 kt, as blast furnace no. 5 was out of commission for 35 days, while that at Azovstal declined by 89 kt, as work on blast furnaces nos. 5 and
    4 kept them offline for 19 and 7 days, respectively.

    In 3Q 2018, the Group’s crude steel production decreased by 8% q-o-q to 1,803 kt. The main driver was a production decrease of 171 kt at Azovstal, whose basic oxygen furnaces nos. 1 and 2 underwent scheduled major overhauls lasting 7 and 21 days, respectively, during the reporting quarter.

    In 9M 2018, Metinvest’s hot metal production increased by 8% y-o-y to 6,234 kt, as that at Ilyich Steel and Azovstal rose by 289 kt and 158 kt, respectively. This was due to stable raw material supplies, which had been irregular during the corresponding period of 2017, so production of crude steel and merchant pig iron increased.
    In 3Q 2018, the Group’s output of merchant semi-finished products dropped by 23% q-o-q to 661 kt. Output of slabs and pig iron decreased by 112 kt and 84 kt, respectively.

    In 9M 2018, Metinvest’s output of merchant semi-finished products climbed by 18% y-o-y to 2,305 kt, as production of merchant pig iron and slabs increased by 203 kt and 153 kt, respectively, amid a favourable market environment.

    In 3Q 2018, the Group’s output of finished products remained unchanged q-o-q at 1,453 kt:
    ? Output of flat products decreased by 60 kt to 1,172 kt, mainly due to a drop of 57 kt at the European re-rolling plants amid shutdowns for annual scheduled major overhauls in August;
    ? Output of long products increased by 6 kt to 202 kt, driven by a rise of 14 kt at Promet Steel, which compensated an 8 kt fall at Azovstal;
    ? Output of rail products climbed by 16 kt to 34 kt due to more orders from the Ukrainian railway operator, Ukrzaliznytsya;
    ? Output of pipes rose by 18 kt to 45 kt.

    In 9M 2018, Metinvest’s production of finished goods increased by 6% y-o-y to 4,402 kt:
    ? Amid a market recovery, output of flat products climbed by 109 kt to 3,603 kt, due to greater production of plates at Ilyich Steel (237 kt) and the European re-rolling mills (17 kt), which offset a fall in plate output at Azovstal (143 kt) and coil production at Ilyich Steel (3 kt);
    ? Output of long products increased by 136 kt to 629 kt, as a result of higher production at Promet Steel
    (207 kt) as stable supplies of square billets for re-rolling were secured, offsetting a decrease at
    Azovstal of 71 kt;
    ? Output of rail products climbed by 32 kt to 63 kt due to more orders;
    ? Output of pipes edged down by 9 kt to 107 kt.

    Source : Strategic Research Institute
    Bijlage:
  17. forum rang 10 voda 2 november 2018 17:21
    United States Steel reports Q3 results

    United States Steel Corporation reported third quarter 2018 net earnings of USD 291 million. Adjusted net earnings were USD 321 million. This compares to third quarter 2017 net earnings of USD 147 million. Adjusted net earnings for third quarter 2017 were USD 161 million. Commenting on US Steel's results, President and Chief Executive Officer David B Burritt said "Our third quarter results were in line with our expectations, with a significant improvement in earnings from our Flat-rolled segment and a return to profitability for our Tubular segment."

    Steel Shipments (thousands of net tons): (a)

    Zie pdf

    Commenting on US Steel's guidance for 2018, Burritt said, "Market conditions remain solid, with stable end-user steel consumption. We experienced lower customer order rates for an extended period, driven by falling spot and index prices. However, we expect continued strength in steel demand will support favorable market conditions as we enter 2019. We expect results for our Flat-rolled segment to continue to improve primarily due to increased shipments and lower maintenance and outage costs, partially offset by lower average realized prices. Despite a softening in the energy tubulars market, we expect Tubular to continue to improve primarily due to increased shipments, partially offset by lower average realized prices. We expect results for our European segment to decrease primarily due to inventory revaluation adjustments related to raw material price volatility.”

    Source : Strategic Research Institute
    Bijlage:
  18. forum rang 10 voda 5 november 2018 16:22
    ArcelorMittal rondt verkoop belang Macsteel af

    (ABM FN-Dow Jones) De Zuid-Afrikaanse tak van ArcelorMittal heeft de verkoop van zijn belang van 50 procent in een joint venture met Macsteel Holdings Luxembourg afgerond. Dit maakte de staalreus maandagochtend bekend.

    Het betreft de verkoop van een indirect belang van ArcelorMittal South Africa in Macsteel. Met de verkoop is een bedrag gemoeid van 220 miljoen dollar.

    De Zuid-Afrikaanse divisie van ArcelorMittal zal de opbrengsten gebruiken voor een versterking van zijn balans en het werkkapitaal.

    Het aandeel ArcelorMittal sloot vrijdag 0,3 procent hoger op 22,28 euro.

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

    © Copyright ABM Financial News B.V. All rights reserved
  19. forum rang 10 voda 5 november 2018 16:46
    Vietnam maintains tariffs on imported steel billets and bars from China, the US, Canada, Germany, France, Japan and South Korea

    Viet Nam News reported that i?t Nam’s Ministry of Industry and Trade (MoIT) has decided to maintain safeguard measures for steel billets and steel bars imported from a number of countries and territories including China, the US, Canada, Germany, France, Japan and the Republic of Korea. The decision was made after the mid-term review. The investigating unit determined that if the safeguards are not continued, the domestic industry would find it difficult to compete with imported goods. According to the MoIT, maintaining tariffs on imported steel is necessary to ensure the effectiveness of the measures and to give local industry more time to restore production.

    Products subject to duty have the HS codes 7207.11.00; 7207.19.00; 7207.20.29; 7207.20.99; 7224.90.00; 7213.10.10; 7213.10.90; 7213.91.20; 7214.20.31; 7214.20.41; 7227.90.00; 7228.30.10 and 9811.00.00.

    The rate imposed on long steel products will be 12.4 per cent from March 22, 2018 to March 21, 2019 and will be reduced to 10.9 per cent in the following year. Tariffs on steel billets will be 19.3 per cent and 17.3 per cent over the same periods. The tax rate for both steel products will decrease gradually to zero per cent by March 22, 2020 if the ministry does not renew the safeguards.

    Source : Viet Nam News
  20. forum rang 10 voda 5 november 2018 16:46
    Thyssenkrupp ends force majeure on rising Rhine water levels

    Reuters reported that thyssenkrupp said a force majeure event that had impacted steel output over the last two weeks had come to an end following rising water levels of the Rhine river.

    A spokesman for Thyssenkrupp Steel Europe said that “The company is in close contact with its customers to ensure a normalisation of supply following the lifting of the force majeure situation.”

    Source : Reuters
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