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Mr George Argunov Appointed as Director of Severstal Engineering Companies

PAO Severstal has reported personnel changes in the Mashinostroyenie industry team. Since January 1, Georgy Argunov has been appointed director of work with engineering companies. Under the leadership of George, who has the necessary managerial and professional competencies, the division will continue to be responsible for developing the business and increasing sales to the automotive and machine-building sectors, as well as to manufacturers of household appliances and industrial packaging.

Georgy Argunov was born in 1985 in Moscow. In 2007 he graduated from Moscow State Technical University named after N.E. Bauman (National Research University) majoring in Quality Control and Certification. Since 2014, George has worked at McKinsey, an international consulting company. In the period from 2014 to 2016, he led a number of projects in Russia, Kazakhstan and Switzerland from 2016 to 2018 he was engaged in projects in the field of FMCG, construction and transport industries. From 2018 to 2019, he focused on transformational projects for industrial companies, including Severstal.

Source : Strategic Research Institute
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MMK Retains Top Positions in Rating of Producers of Flat and Coated Steel

The influential industry magazine Metal Supply and Sales has named Magnitogorsk Iron and Steel Works first among Russian producers of flat products. The magazine Metal Supply and Sales has published its traditional rating of the leading metallurgical companies in the second half of 2019, where PJSC MMK once again took first place among Russian producers of flat products. Thanks to the modern high-performance rolling mills launched at the plant over the last two decades, which focus on the production of high-quality flat products in high-margin segments, the Company is a leader in the production of both hot-rolled and cold-rolled products, the plant accounts for one-third of cold-rolled products in the Russian ferrous metals industry.

The Company also continues to hold first place in the section of the rating dedicated to producers of galvanised and coated metal. MMK devotes particular attention to the development of this sphere of production: currently, MMK has three continuous hot-dip galvanising lines and two polymer coating units. In addition, the cold-rolling unit Mill 2000 complex includes a combined continuous annealing/hot-dip galvanizing unit and a CGL. The Company is also a leader in the tinplate market.

MMK Group is consistently expanding its range of manufactured steel products, thanks in part to the use of MMK Lysva Metallurgical Plant's equipment to produce electro-galvanised rolled products and premium products with a polymer coating, produced under the SteelArt and Moire brands. These products consist of a metal base with a three-layer polymer coating, which accurately imitates the look and feel of natural materials – including stone, wood and brick – while at the same time ensuring a light-weight product with a lower cost of installation.

In addition, two more companies from MMK Group were included in the rating by Metal Supply and Sales magazine for the second half of 2019. Magnitogorsk Metalware and Calibration Plant MMK-Metiz entered the top three manufacturers of metalware products, and MMK Trading House retained second place in the list of the best trading houses of steel mills.

Source : Strategic Research Institute
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Chinese Crude Steel Output in 2019 Misses One Billion Tonne Mark by 3.6 Million Tonnes

National Bureau of Statistics data showed that China's crude steel output in December 2019 was 84.27 million tonnes, up by 11.6% a YoY percent to take total crude steel production in 2019 was 996.34 million tonnes, up 8.3% YoY. China's finished steel output in December was 104.33 million tonnes, up 11.3% YoY, while steel production for the whole year was 1.20477 billion tonnes, up 9.8% from a year earlier. China's pig iron production in December was 67.06 million tonnes, up 6.0 per cent from a year earlier, while pig iron production for the whole year was 809.37 tonnes, up 5.3 per cent from a year earlier.

Steel demand in China stayed firm in 2019 despite the world’s second-largest economy coming under pressure from slowing domestic growth and a bitter trade war with the United States. The property market was more resilient than expected, and a push on infrastructure spending also fueled demand for steel as a vital building material.

The China Iron and Steel Association said last week it expects further growth this year, forecasting Chinese steel demand of about 890 million tonnes for 2020, up 2% from 2019. It had said the pace of growth would slow due to less demand from the automobile and shipping sectors, while new property construction is also expected to slow.

Source : Strategic Research Institute
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NCLAT Seeks Clarity from ED, SFIO and CBI over JSW Steel Immunity in BPSL Acquisition

The National Company Law Appellate Tribunal has asked the investigative agencies like Enforcement Directorate, SFIO and the CBI to file an affidavit clarifying whether JSW Steel, a successful bidder for Bhushan Power and Steel Ltd, is liable for offences committed by the previous management of the debt-laden firm under the amended IBC. A three-member NCLAT bench headed by Chairperson Justice S J Mukhopadhaya asked the agencies to file their reply affidavits by January 20 stating whether after insertion of section 32 A in the Insolvency and Bankruptcy Code last month, JSW Steel has immunity from the alleged fraud committed by the previous BPSL management.

It further said: "In case, the answer is in negative, they will enclose the evidence in support of their stand after serving a copy of the same on the learned counsel for JSW Steel and other appellants."

The appellate tribunal had directed to list the petition on January 23, for next hearing.

The government had last month amended the Insolvency and Bankruptcy Code and inserted section 32A inside it, which mandates that once management or control of a debt-ridden company changes after the completion of Corporate Insolvency Resolution Process, it would not be liable for any offences committed prior to the commencement of the insolvency resolution process.

Source : Strategic Research Institute
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INTUC and CITU Opposing POSCO RINL Proposed Auto Steel JV at Vizag

Express News Service reported that trade unions and Left parties are opposing proposal to set up a steel plant by South Korean steelmaker POSCO in a joint venture with Visakhapatnam Steel Plant. Indian National Trade Union Congress leader Mr Mantri Rajasekhar said that all trade unions are opposing the proposal. He said “The steel plant, launched with 1.7 million tonnes capacity, was later expanded to 7.3 million tonnes without any financial support from the Centre. It will be mutually beneficial if a steel plant was set up by Rashtriya Ispat Nigam Limited in partnership with public sector undertakings National Mineral Development Corporation or Steel Authority of India Limited, which have captive iron ore mines.”

Centre for Indian Trade Unions State president Ch Narasinga Rao said that the Centre is planning to sanction land worth INR 45,000 crores to the South Korean giant on a platter. He demanded the state government to clarify its stand on POSCO proposal. He said no private steel plant has been set up in the past 10 years.

Source : Express News Service
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Salzgitter Group Expands European Trading Network

Salzgitter Mannesmann Staalhandel BV, a Group company of Salzgitter AG, took over heavy plate specialist trading company Statendam Steel Plates BV effective December 31, 2019. Both companies operate out of Oosterhout Netherlands. Statendam Steel Plates BV was founded in 2000 and was formerly 100 % privately owned. It supplies companies in the Netherlands in the sectors of construction, trading, boiler manufacturing, mechanical engineering, metalworking, offshore and ship building.

The acquisition enables Salzgitter Mannesmann Staalhandel B.V. to extend its product portfolio and strengthen its market presence in the Netherlands. The company is part of the international trading organization of Düsseldorf-based Salzgitter Mannesmann Handel GmbH that heads up the Trading Business Unit within the Salzgitter Group.

The parties have agreed to keep the purchase price confidential.

Source : Strategic Research Institute
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MMK Implements New Marking Technology RFID

Magnitogorsk Iron and Steel Works has implemented a system for recording multi-turn actuators using modern marking technology in the form of radio frequency identification tags. Marking with RFID tags has replaced the process of applying information manually with paint and barcoding. The goal of implementing the new technology is to improve the quality of accounting for multi-turn actuators at MMK and to provide end-to-end tracking of the devices. This will help meet the requirements of the Company's accounting policy and, in the case of non-return of devices, will allow the Company to file claims.

The experience of using the RFID tag system has shown that the tags are an effective technology which allows MMK to read information in difficult metallurgical production conditions. The developers of the system, MMK-Informservice and KonsOM SKS, have implemented the tracking of multi-turn actuators with RFID tags in all sections of the wagon preparation shop and in all MMK rolling shops.

Thanks to the new system, specialists in the logistics department at MMK and Remput CPV can quickly monitor the life cycle of the multi-turn actuators using a mobile terminal which can read the RFID tags. Stationary readers at key accounting points in the rolling shops and at the plant's entry/exit stations allow real-time tracking of each multi-turn actuator on the MMK site.

Source : Strategic Research Institute
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AISI Applauds Senate Passage of USMCA

After US Senate passing, by a vote of 89-10, of legislation implementing the United States-Mexico-Canada Agreement, the American Iron and Steel Institute president and CEO Mr Thomas J Gibson said “Today’s passage of USMCA in the Senate is great news for steelmakers, our workers and our customers. It will help create jobs and foster investment in manufacturing, building upon the success of NAFTA. For the steel industry specifically, the USMCA improves upon the original NAFTA by strengthening the rules of origin for steel-intensive goods, incentivizing the use of North American steel in manufactured goods and bolstering our manufacturing supply chains with customers in the automotive, auto parts, pipe and tube, and machinery industries, among others. Nearly 90 percent of US steel mill product exports go to Canada and Mexico, so securing those markets for our exports is critical for American steelmakers.”

He said “The USMCA also will benefit the steel industry by promoting increased cooperation and information sharing among the North American governments to address circumvention and evasion of trade remedy orders. These measures will help the steel industries of our three countries continue to work together to address the repeated surges of dumped and subsidized steel imports that have plagued the North American market in recent years.”

Source : Strategic Research Institute
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JSW Group Shuts Down Steel Furniture Business Forma

Business Line reported that JSW Group has shut down its furniture business JSW Forma in less than a year after its grand launch in April 2019. JSW Living had announced plans to invest up to INR 250 crore over five years to become a leading steel furniture company. It had set itself a sales target of INR 50 crore in the first year.

JSW Forma had adopted an asset-light model, outsourcing production to two entities in Nagpur and Bhiwandi. The company’s products started at INR 19,000 and were available at 62 outlets. The steel furniture business was spearheaded by Tarini Jindal Handa, daughter of Group Chairman and promoter Sajjan Jindal.

Source : Business Line
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