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voda 28 januari 2023 08:56

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Beursblik: analisten verwachten opnieuw winsthalvering ArcelorMittal

Door ABM Financial News op vrijdag 27 januari 2023
Views: 5.692

(ABM FN-Dow Jones) ArcelorMittal heeft in het vierde kwartaal van 2022 vermoedelijk veel minder winst behaald. Dit verwachten 10 analisten die bijdroegen aan de bedrijfsconsensus van de staalreus.

De analisten rekenen gemiddeld op een EBITDA in het vierde kwartaal van 1,26 miljard dollar. Dat zou een ruime halvering zijn van de 2,7 miljard dollar in het derde kwartaal van dit jaar, wat toen ook grofweg een halvering was ten opzichte van 5,2 miljard dollar in het tweede kwartaal.

In het vierde kwartaal van 2021 lag de EBITDA zelfs op 5,1 miljard dollar.

Daarnaast mikken de analisten voor het afgelopen kwartaal op een nettowinst van 358 miljoen dollar en een winst per aandeel van 0,38 dollar.

ArcelorMittal opent op 9 februari de boeken over het vierde kwartaal.

Bron: ABM Financial News

voda 30 januari 2023 07:25

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US Finished Steel Imports Up 11% in 2022

Strategic Research Institute
Published on :
30 Jan, 2023, 2:13 am

The American Iron and Steel Institute has reported that the US’s total and finished steel imports were 30.832 million net ton and 25.249 million net ton in 2022, down 2.0% and up 10.9%, respectively, vs. 2021. Finished steel import market share is estimated at 24% for full year 2022.

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Product wise Imports 2022

Ingots and Billets and Slabs - 5.6 million net ton, down 36% YoY

Sheets & Strip Galv. Hot Dipped - 2.8 million net ton, down 4% YoY

Oil Country Goods - 2.7 million net ton, up 44% YoY

Sheets Hot Rolled - 2.5 million net ton, down 19% YoY

Sheets Cold Rolled - 2.2 million net ton, up 21% YoY

Plates in Coils - 1.6 million net ton, up 17% YoY

Wire Rods - 1.5 million net ton, up 30% YoY

Bars Reinforcing - 1.4 million net ton, up 9% YoY

Line Pipe - 1.1 million net ton, up 47% YoY

Tin Plate - 1.1 million net ton, up 23% YoY

Bars Hot Rolled - 1.0 million net ton, up 11% YoY

Standard Pipe - 0.9 million net ton, up 44% YoY

Structural Shapes Heavy - 0.8 million net ton, up 36% YoY

Wire Drawn - 0.8 million net ton, down 5% YoY

Mechanical Tubing - 0.7 million net ton, up 15% YoY

Plates Cut Lengths - 0.6 million net ton, up 5% YoY

All Other -2.5 million net ton, up 6% YoY

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Top Exporting Nations 2022

Canada - 6.9 million net ton, down 1% YoY

Mexico - 5.3 million net ton, up 11% YoY

South Korea - 2.8 million net ton, up 3% YoY

Brazil - 2.6 million net ton, down 41% YoY

Japan - 1.3 million net ton, up 16% YoY

Germany - 1.1 million net ton, down9% YoY

Taiwan - 1.0 million net ton, up 17% YoY

Turkey - 1.0 million net ton, down 1% YoY

Vietnam - 0.9 million net ton, flat YoY

India - 0.7 million net ton, up 73% YoY

China -0.7 million net ton, up 39% YoY

Netherlands - 0.6 million net ton, up 2% YoY

Algeria - 0.5 million net ton, up 40% YoY

Romania - 0.5 million net ton, up 28% YoY

Russia - 0.5 million net ton, down 72% YoY

voda 30 januari 2023 07:26

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Steel Dynamics Reports Record USD 3.9 Billion Income in 2022

Strategic Research Institute
Published on :
30 Jan, 2023, 2:14 am

Fort Wayne Indiana headquartered US’s leading steelmaker Steel Dynamics has reported that net income in 2022 was a record USD 3.9 billion with record net sales of USD 22.3 billion, as compared to net income of USD 3.2 billion with net sales of USD 18.4 billion in 2021.

Record steel and steel fabrication shipments of 12.2 million tons and 856,000 tons, respectively

Steel Dynamics Chairman, President, and Chief Executive Officer Mr Mark D Millett said “Domestic steel demand was solid throughout the year supported most significantly by the construction, automotive, industrial, and energy sectors. Customer steel inventories remained at below historical averages for most of the year, allowing for steady order patterns.”

Mr Millett also said “We believe North American steel consumption will increase in 2023, and that demand for lower-carbon emission, US produced steel products coupled with lower imports will support steel pricing. We are ramping up operations at our new state-of-the-art electric arc furnace flat rolled steel mill located in Texas. The product quality is excellent, and grade development and dimensional tolerances have exceeded our expectations. Based on our current forecast, we expect Sinton’s annual utilization to be around 80 percent for 2023. Also, our four additional value-added flat rolled steel coating lines comprised of two paint lines and two galvanizing lines with Galvalume coating capability, are expected to begin operating in the second half of 2023. One set will be located onsite at Sinton, providing it with the same diversification and higher-margin product capabilities as our two existing flat rolled steel divisions. The other two lines will be placed at our Heartland Flat Roll Division to support growing coated flat rolled steel demand in the region and to further increase the diversification and cash generation capacity of our existing Midwest operations.”

Steel Dynamics is one of the largest US steel producers and metals recyclers in the United States based on estimated annual steelmaking and metals recycling capability, with facilities located throughout the United States, and in Mexico. Steel Dynamics produces steel products, including hot roll, cold roll, and coated sheet steel, structural steel beams and shapes, rail, engineered special-bar-quality steel, cold finished steel, merchant-bar products, specialty steel sections and steel joists and deck. In addition, the company produces liquid pig iron and processes and sells ferrous and nonferrous scrap.

voda 30 januari 2023 07:27

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3DEO Launches 316 Stainless Steel for High Volume Metal AM

Strategic Research Institute
Published on :
30 Jan, 2023, 2:15 am

Los Angeles based leading high volume 3D printing specialist 3DEO has announced the launch of 316L austenitic stainless steel. A fully austenitic, non-magnetic stainless steel, 316L (equivalent to UNS S31603) maintains excellent performance at room and moderately elevated temperatures, as well as excellent ductility and mechanical performance. This weldable material is extremely corrosion resistant, which makes it ideal for applications that will experience harsh environments.

316L is commonly used in applications such as laboratory equipment, impellers and pumps, engine parts, food processing equipment, jewelry, kitchen appliances, surgical instruments, marine, chemical and petrochemical processing, and more.

3DEO helps customers with their complex metal components at every stage of the product life cycle, from early ideation and prototyping to manufacturing at scale. And because prototypes are manufactured using the same machines and technologies as longer production runs, with 3DEO, customers can seamlessly progress from prototype to production without the need to undergo lengthy or costly design changes or requalifications to launch products.

Based in Torrance in California, 3DEO is one of the world’s highest volume manufacturers of 3D printed precision metal components made with its patented metal 3D printing technology, Intelligent Layering. 3DEO’s partnership-approach to early-stage design coupled with its proprietary technology and expertise in complex geometries and design for additive manufacturing DfAM make 3DEO stand out from other manufacturers. 3DEO created the Manufacturing Cloud, an end-to-end manufacturing platform built to scale 3DEO’s proprietary metal 3D printers into mass production through software, 3D printing, robotics, automation, augmented reality, and materials innovation.

voda 30 januari 2023 07:27

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Nucor Reports Record USD 7.6 Billion for 2022

Strategic Research Institute
Published on :
30 Jan, 2023, 2:17 am

Charlotte North Carolina headquartered Nucor Corporation has reported record consolidated net earnings of USD 7.61 billion in 2022, surpassing the previous record of consolidated net earnings of USD 6.83 billion in 2021. Nucor's Chairman, President & Chief Executive Officer Mr Leon Topalian said “I am proud to report that 2022 was both the safest and most profitable year in Nucor history. This is the fourth consecutive year the Nucor team has exhibited record-breaking safety performance, as we strive to become the world's safest steel company.”

Mr Topalian said “Looking ahead to 2023, while we recognize there is uncertainty about the near-term US economic outlook, we're starting to see a number of demand drivers gathering momentum, including the reshoring of manufacturing, large infrastructure investments and grid modernization. We believe Nucor's steel and steel products with lower greenhouse gas intensity will be essential building blocks to our nation's clean energy future, security, and productivity for years to come.”

Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. Products produced include: carbon and alloy steel in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel racking; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; precision castings; steel fasteners; metal building systems; insulated metal panels; overhead doors; steel grating; and wire and wire mesh. Nucor, through The David J Joseph Company and its affiliates, also brokers ferrous and nonferrous metals, pig iron and hot briquetted iron & direct reduced iron; supplies ferroalloys; and processes ferrous and nonferrous scrap. Nucor is North America's largest recycler.

voda 30 januari 2023 07:28

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Global Ispat Koksna Industrija Lukavac Case Reopened in Bosnia

Strategic Research Institute
Published on :
30 Jan, 2023, 2:19 am

WFIN has reported that Mr Pramod Mittal is charged with heading an organized crime group that allegedly helped him syphon nearly USD 12 million from Global Ispat Koksna Industrija Lukavac. He co-owned the plant near Tuzla in northeastern Bosnia with the local government. The report quoted a court statement announcing the indictment as saying that “The prosecutors have filed a request to revoke bail and order Mittal and the other Indians charged to be re-arrested and returned to jail over their repeated failure to appear for investigative hearings in Tuzla.”

As per report “Other charges include illegally taking over control of the metallurgical coke producer despite failing to invest 23 million euros, or more than half the amount he committed to invest in 2003 in return for the 51% stake in the company.”

The report added that “Seven others, including two Indian and 5 Bosnian former members of the company’s management, have been charged with Mr Mittal on charges including organized crime, corruption and abuse of office.”

Mr Pramod Mittal, GIKIL’s former general manager Mr Paramesh Bhattacharyya and an ex-member of its supervisory board, Mr Razib Dash were arrested in Bosnia in summer 2019 but were released and left the country after agreeing to post bail of 1 million euros, in the case of Mr Mittal, and 250,000 euros for the other two. All three remain outside Bosnia.

In 2019, the cantonal court in Tuzla had ordered Mr Mittal to also deposit nearly 11 million euros for alleged damages to GIKIL.

voda 30 januari 2023 07:28

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Tata Steel Recognised as Global DEI Lighthouse 2023 by WEF

Strategic Research Institute
Published on :
30 Jan, 2023, 2:21 am

Tata Steel has been recognised as Global Diversity Equity & Inclusion Lighthouse 2023 by World Economic Forum. The Company’s efforts towards improving gender diversity at the workplace have been chosen as one of the eight case studies and have been featured in the Global Parity Alliance: Diversity, Equity and Inclusion Lighthouses 2023 report published to coincide with the World Economic Forum 2023 held in Davos, Switzerland between 16 and 20 January.

The insights report builds on the work of the Global Parity Alliance, a cross-industry group committed to advancing DEI around the world, and the associated DEI Lighthouse Programme launched to identify proven, effective DEI initiatives from companies across industries and geographies, organised by WEF’s centre for the New Economy and Society in collaboration with McKinsey and Company.

The ‘Lighthouse Report’ while highlighting the approach and impact of Tata Steel’s efforts in improving diversity and inclusion in the company said “Tata Steel’s case for change centered around the conviction that in order to achieve their aspiration, to be the most valuable steel organisation in the world with a “future ready” and “pioneering” workforce, they needed to invest in culture as a key enabler. Tata Steel’s leaders identified DEI as a central pillar of that culture because of the importance of diversity and inclusion in fueling innovation.”

The report while acknowledging the particular challenges faced by Tata Steel because it is operating in the mining and manufacturing sector known for being a largely male-dominated workforce, commended the Company’s impact-driven approach to bringing more women and LGBTQIA+ members into its workforce. The launch of the ‘25 by 25’ programme in 2019 aspires to have 25% diverse workforce in Tata Steel by 2025.

The Global Parity Alliance is a cross-industry group of companies taking action to accelerate diversity, equity and inclusion in the workplace and beyond. This group seeks to drive better and faster DE&I outcomes by sharing proven DE&I best practices and practical insights from leading organizations. To realise the promise of diversity, the Global Parity Alliance members together with identified DE&I lighthouses will work to close opportunity gaps faster in the new economy.

voda 30 januari 2023 07:29

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Corinth Pipeworks to Supply LSAW Pipes for Chevron’s Tamar Project

Strategic Research Institute
Published on :
30 Jan, 2023, 2:22 am

Cenergy Holdings Greek pipemaker Corinth Pipeworks has been selected by Chevron Mediterranean to manufacture and supply approximately 155km of 20 inch longitudinally submerged arc welded steel pipes for the Tamar gas field optimization development in the Southeastern Mediterranean. The pipes will be manufactured in Corinth Pipeworks' facilities in Greece, and installation work will commence according to schedule within 2024. Scope of supply also includes internal and external anticorrosion coating, applied at the same location as pipe manufacturing at Thisvi in Greece.

The project will provide critical infrastructure, as it will connect the subsea manifold at a maximum water depth of 1,700 meters to the offshore platform where gas will be processed before being transported to shore in Israel.

Corinth Pipeworks is a leading steel pipe manufacturer for the global energy and construction sector. With projects executed in more than 45 countries worldwide, it develops valuable solutions for industry

voda 30 januari 2023 07:29

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DGFT Proposes NMDC as Canalising Agency for Mineral Exports

Strategic Research Institute
Published on :
30 Jan, 2023, 2:23 am

Business Line reported that the Directorate General of Foreign Trade has written to the Ministry of Steel seeking their opinion on appointment of India’s largest state owned iron ore miner NMDC as a canalising agency for export of high grade iron ore, manganese ore, chrome ore and other minerals. A senior official of the DGFT in a 3 January 2022 communication to a top official of the Ministry of Steel mentioned that the Directorate is awaiting a final comment from the ministry for appointment of NMDC as an alternate canalising agency. DGFT had on 7 December 2022 had sent a similar mail to the Ministry of Steel seeking its comments on appointment of the iron-ore miner as a canalization agency.

The name of NMDC came up after four other CPSEs were de-notified in September as nominated agencies for EXIM businesses. Ministry of Mines had in 29 September 2022 denotified four central public sector enterprises MMTC, STCL, PEC and STC as canalized or nominated agencies for all businesses in the EXIM policy.

Canalization of import and export refers to importing and exporting of commodities through specified government agencies which previously included the State Trading Corporation of India, MMTC and others.

Ministry of Mines had in 29 September 2022 denotified four central public sector enterprises MMTC, STCL, PEC and STC as canalized or nominated agencies for all businesses in the EXIM policy.

voda 30 januari 2023 07:30

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Borusan Mannesmann to Build Pipe Plant in Ploiesti in Romania

Strategic Research Institute
Published on :
30 Jan, 2023, 2:25 am

Turkish Dunya has reported that Turkish steelmaker Borusan Mannesmann is preparing to realize its second investment in Europe. Borusan Mannesmann, which bought a land in Ploiesti, the center of Prahova city of Romania, for EUR 805,000 in January 2021, is establishing a steel pipe processing plant with an investment of EUR 15 million Euros. The acquisition was made through the company's subsidiary in Romania, Borusan Tube Products. As per report “Borusan-Mannesmann Romania company management visited Prahova Chamber of Commerce and Industry.”

According to the information announced by the Romanian Prahova Chamber of Commerce and Industry, the facility will be built in the PWP Industrial Park and will produce for the automotive supply industry. When completed, 50-60 jobs will be created in the first phase of the facility. In the next two years, the number of employees will triple and exceed 150.

Founded 65 years ago, Borusan Mannesmann is known as the first industrial venture of the Borusan Group, one of Turkey's leading powers. Combining its activities with Salzgitter Mannesmann GMBH, one of Europe's largest steel and technology companies, in 1998, the company has more than 2,000 employees and more than 4,000 product types today. The company, which has 7 facilities in 3 continents, made its first foreign investment by establishing Borusan Mannesmann Vobarno Tubi SpA with the facility it bought in Italy in 2001. Subsequently, the company established Borusan Mannesmann Pipe US Inc. in 2014 to manage the Houston Baytown factory investment in the USA; In 2016, 2017 and 2020, he was awarded the "Best Pipe Manufacturer" award by the American Metal Market, one of the most prestigious publications in the USA.

voda 30 januari 2023 07:31

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ArcelorMittal Kryvyi Rih Shuts 71 Year Old Sinter Plant

Strategic Research Institute
Published on :
30 Jan, 2023, 2:26 am

Interfax has reported that Ukraine's largest mining and metallurgical enterprise ArcelorMittal Kryvyi Rih is shutting its biggest and oldest sinter plant which was operating since 1951, which used to supply the No 1 blast furnace with 8,000 tonnes of sinter per day. Interfax quoted ArcelorMittal Kryvyi Rih General Director Mr Mauro Longobardo as saying that “The main factors behind the decision to finally shut down the sinter plant were a reduction in production volumes and the commitment to reduce the industrial impact on the region. The enterprise did not currently have the opportunity to actively build a new pelletizing plant, which was planned as an alternative to the sintering plant.”

As per report, ArcelorMittal Kryvyi Rih is left with three sinter plants and one ore blending plant. Only one sinter plant is currently operating, and producing not more than 3,000 tonnes of sinter per day. Another sinter shop prepares burden charge, and the third remains on standby due to an overall drop in production.

ArcelorMittal Kryvyi Rih decommissioned the first stage of a blooming mill as well as the No 6 double hearth furnace, the last of its open-hearth capacity, in 2020. The No 1 and 2 coking batteries were stopped last autumn.

ArcelorMittal Kryvyi Rih is the largest producer of rolled steel in Ukraine. It specializes in the production of long products, in particular rebar and wire rod.

Bijlage:

voda 30 januari 2023 07:32

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Acerinox to Expand North American Stainless Capacity

Strategic Research Institute
Published on :
30 Jan, 2023, 2:28 am

Spain headquartered leading stainless steel maker Acerinox announced that its North American Stainless will increase its production capacity by 200,000 tonnes, up by 20%. The new equipment planned with this USD 244 million investment will be aimed at increasing the volume of flat products, with a special focus on upping the production of those with greater value-added, such as Annealing and special composition steels.

North American Stainless will have a new cold rolling mill, upgrade its annealing and pickling lines, and enlarge the melt shop to include a 400 metric tonne crane, among other equipment.

voda 30 januari 2023 07:33

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WV Stahl Calls for Implementation of Decarbonization in 2023

Strategic Research Institute
Published on :
30 Jan, 2023, 2:29 am

German steel Association WV Stahl’s new President ThyssenKrupp Steel Europe’s CEO Mr Bernhard Osburg said “The German steel industry is ready to accept the immense challenges of the transformation to climate neutrality.”

WV Stahl said “The conversion of production processes requires billions in investment. The companies would welcome the fact that politicians in Brussels, the federal government and the federal states were prepared to support the steel industry in mastering the transformation process. Now the outstanding decisions must be taken quickly. 2023 must be the year of implementation. Commitments and individual payments, for example for pilot projects, must become a reliable inflow of funds.”

voda 30 januari 2023 07:34

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Dillinger Supplies Plates for Akita Noshiro Offshore Wind Farm

Strategic Research Institute
Published on :
30 Jan, 2023, 2:31 am

The Akita Noshiro offshore wind farm project, which recently began commercial operation, is the first large-scale offshore project ever built in Japan. Dillinger supplied approximately 26,300 tonnes of heavy plate for the monopile foundation structures, in thicknesses ranging from 50 to 100 mm. The wind turbines are mounted on monopiles that are over 78 meters long and weigh around 880 tonnes, in a water depth of between 10 and 30 meters.

The offshore project, which includes the Akita and Noshiro wind farms, is part of Japan's ambitious green energy development plan: the government plans to approve three to four sites per year with a capacity of 1 GW. The two wind farms cover 730 hectares in the coastal zone of Akita Prefecture. With 33 wind turbines and an annual capacity of 139 MW, the wind farms will soon be supplying around 124,000 households with environmentally friendly electricity. The wind turbines are mounted on monopiles that are over 78 meters long and weigh around 880 tons, in a water depth of between 10 and 30 meters.

voda 30 januari 2023 07:35

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Voestalpine Acquires Swiss Bright Bar Specialist Metaltec

Strategic Research Institute
Published on :
30 Jan, 2023, 2:33 am

Austrian steelmaker voestalpine’s High Performance Metals Division’s Swiss subsidiary has taken over the bright steel specialist Metaltec from Pieterlen in the canton of Bern in Switzerland to expand the offer in the high-quality segment. Metaltec achieved sales of about CHF 10 million in 2021 with 37 employees.

The bright steel specialist Metaltec mainly produces for the high-tech niche segments of the watchmaking industry and medical technology. Metaltec supplies bright steel that is drawn or ground stainless steel, with a particularly flat and smooth surface and the tightest tolerances, primarily for the Swiss watchmaking industry, medical technology such as implants and the automotive supplier industry.

With many years of experience, Metaltec is able to supply high-quality materials in reproducible quality and design under the "Metaltec Swissfinish" label. Their intended use defines properties such as optimal machinability or straightness. Its range of products includes the most diverse types of materials, including rust-resistant steels. Compliance with the tightest tolerances in the most diverse cross-sectional shapes and dimensions as well as surface quality allows Metaltec to meet the highest demands.

voda 30 januari 2023 07:37

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Critical Materials Essential for Steel & Wind Sectors in EU

Strategic Research Institute
Published on :
30 Jan, 2023, 2:34 am

The European wind industry and the European steel industry play a key role in enabling Europe’s clean tech economy. The upcoming EU Critical Raw Materials Act must account for the strategic role of this key value chain. It must ensure access to all critical materials for wind and steel, including rare earths, nickel, manganese, copper, aluminium, ferrous scrap, and glass-fibre fabrics. In the long-term the EU must ramp up domestic production and refining capacities for these materials, incentivise their circular use and promote innovative solutions.

European steel association EUROFER Director General Mr Axel Eggert said “The Critical Raw Materials Act must deliver targeted market measures boosting local, sustainable supply chains and offering incentives to invest at least comparable to the US Inflation Reduction Act. In particular, the EU steel industry needs access to both fossil-free energy such as wind, and key raw materials such as scrap, nickel and manganese to supply green steel to its value chain. In addition, we invite the Commission to formulate a proposal focusing on ‘strategic green transition goods’ like steel and wind in the context of the new Green Deal Industrial Plan, as these are an essential part of the clean tech value chain.”

WindEurope CEO Mr Giles Dickson said “The Critical Raw Materials Act is a crucial opportunity to reduce Europe’s dependency on China - and to step up the supply of the materials Europe needs to boost its energy security. But the Act must cover all the key materials needed in industries delivering the green transition. That means secondary materials such as glass fibre as well as raw materials such as rare earths. If we target only the latter we still remain dependent on China when it comes to wind turbines.”

The European wind industry and the European steel industry are essential to the competitiveness of Europe’s decarbonized economy. They are the key to direct electrification with renewable electricity, Europe’s nascent clean hydrogen economy and many other clean tech solutions. Wind energy is set to become Europe’s number one source of electricity, providing as much as 50% of all power consumed in the EU by 2050. Steel is a main component in various applications central to the energy transition, not least in wind turbines.

Wind and steel represent one of the most tangible examples of circularity in decarbonization: the steel industry needs large amounts of carbon-free electricity generated in particular from wind turbines to produce green steel. The sectors demand for fossil-free electricity will grow to 165TWh per year by 2030, 93TWh of which will be used for hydrogen production. At the same time steel, iron and cement together account for 90% of the total mass of modern wind turbines. To further reduce its carbon footprint the wind industry aims to transition to green steel, making this value chain completely circular. The demand for green steel will increase sharply: a modern onshore wind turbine contains around 120 tonnes of steel per MW of capacity.

In March the European Union will present its EU Critical Raw Materials Act This is of crucial importance for Europe’s energy security and for the success of Europe’s digital and green transitions. The CRMA must break Europe’s dependency on a handful of exporting countries. Only a level playing field in accessing critical raw materials will ensure the long-term competitiveness of European manufacturing and avoid carbon leakage.

Steel Europe

voda 30 januari 2023 07:37

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US Appeals against WTO Rulings on Section 232 Steel Tariffs

Strategic Research Institute
Published on :
30 Jan, 2023, 2:36 am

US has appealed against four World Trade Organization panel rulings faulting it for punitive tariffs imposed on steel imports from China and other countries. US has also appealed a ruling that it was flouting international trade rules by labeling imports from Hong Kong as being from China. United States Trade Representative and Chief of Mission in the Geneva office Ms Maria Pagan criticized the rulings during a meeting of the WTO’s Dispute Settlement Body. She said “The United States will not cede decision making over its essential security to WTO panels. For over 70 years, the United States has held the clear and unequivocal position that issues of national security cannot be reviewed in WTO dispute settlement. The United States cannot support adoption of these fundamentally flawed and damaging reports,” she said, announcing the US decision to appeal.

Former US president Mr Donald Trump’s administration introduced the tariffs on steel and aluminum imports. Marking a departure from a decades-long US-led drive for free trade, Mr Trump justified the steep tariffs with claims that massive flows of imports to the United States threatened national security. The administration of his successor, President Mr Joe Biden, has taken a less combative tone but has stuck with the tariffs.

The expert panels the WTO set up in 2018 to settle complaints filed over the tariffs ruled last month that they were inconsistent with various articles of the General Agreement on Tariffs and Trade. The panels also determined that these inconsistencies were not justified by the security exceptions provided for in the GATT, as they were not applied in a time of war or during a case of serious international tension.

voda 30 januari 2023 07:39

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SAIL BSP Plate Mill Crosses 1 Million Tonnes Production Mark

Strategic Research Institute
Published on :
30 Jan, 2023, 2:37 am

Business Standard reported that Steel Authority of India Limited’s Bhilai Steel Plant has produced and dispatched more than 1 million tonnes of plates so far in the current financial year 2022-23. BSP said “The 1 million tonne mark in cumulative production was crossed on 21 January while 1 million tonne in cumulative despatches of plates in the current financial year was crossed on 23 January 2023.”

Production – 1,013,300 tonnes

Dispatch – 1,000,595 tonnes

During 1 April 2022 to 23 January 2023, SAIL BSP has set new milestones

Mild Steel Plates - 619,974 tonnes

High Tensile Plates -177,528 tonnes

Boiler Quality Plates - 86,488 tonnes

DMR 249 A Naval Grade Plates -1,557 tonnes

SAIL-Bhilai’s plate mill, which has capacity of 1.2 million tonne per annum, rolls out wide and heavy plates of different grades for a variety of applications. They are for the defence sector and used in infrastructure development projects.

voda 30 januari 2023 07:39

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Indian Government Receives Multiple EoIs for NMDC Steel Sale

Strategic Research Institute
Published on :
30 Jan, 2023, 2:39 am

Indian Government has received multiple expressions of interest for sale its 50.79% stake in the under-construction NMDC Steel at Nagarnar in Chhattisgarh. Department of Investment & Public Asset Management Secretary Mr Tuhin Kanta Pandey tweeted “Multiple expressions of interest received for the Strategic Disinvestment of NMDC Steel Ltd. The transaction will now move to the second stage.”·

The last date for submission of EoIs for NSL by interested bidders was 27 January 2023.

Only the interested bidders found to be meeting the eligibility criteria would be allowed to participate in the next stage of the transaction, which involves detailed due diligence and submission of financial bids. After shortlisting eligible bidders, financial bids would be called in the second stage.

Currently, NISP is in the process of being demerged from NMDC into NSL. After the completion of the demerger process, NSL will have mirror shareholding to NMDC, government’s shareholding of 60.79% and public shareholding of 39.21%. Thereafter, the Centre would divest its 50.79% shareholding in NSL, along with management control, to a strategic buyer through a two-stage, competitive bidding process. Additionally, the Centre would offer a 10% stake in NSL to NMDC after the strategic buyer has been identified through the bidding process, Dipam said.

voda 30 januari 2023 07:41

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ArcelorMittal Leads Series C Financing in Boston Metal

Strategic Research Institute
Published on :
30 Jan, 2023, 2:40 am

Boston United States based company developing Molten Oxide Electrolysis based technology to fully decarbonize steel production Boston Metal has announced the USD 120 million first close of Series C fundraising led by multinational steel company ArcelorMittal. Microsoft's Climate Innovation Fund and SiteGround Capital also joined as new investors in this round, alongside current investors. ArcelorMittal’s lead investment was made through its XCarb Innovation Fund. ArcelorMittal CEO Mr Aditya Mittal said “In Boston Metal, we are investing in a team that has made impressive progress over a relatively short period of time, developing a technology that has exciting potential to revolutionize steelmaking. In our extensive discussions with them, we have been impressed by the passion and vision they have to contribute to the decarbonization of steelmaking. They are an exciting and welcome addition to the XCarb Innovation Fund’s portfolio.”

Boston Metal’s patented Molten Oxide Electrolysis process is being commercialized to produce both green steel and high-value metals, such as tin and niobium. The Series C funds will expand the production of green steel at the company’s pilot facility outside Boston and will support the site selection and preliminary design of its first green steel plant. The new resources will also support the construction and commissioning of a manufacturing facility for high-value metals at the company’s Brazilian subsidiary, Boston Metal do Brasil.

Molten Oxide Electrolysis converts even low- and mid-grade iron ore fines directly into high-purity molten iron. This enables the broadest possible supply of feedstock and protects against the price volatility of premium ores. This simplified process eliminates the need for coke production, iron ore processing, blast furnace reduction, and basic oxygen furnace refinement. Molten Oxide Electrolysis platform works with all iron ore grades and does not require process water, hazardous chemicals, or rare-metal catalysts to operate.

About the size of a school bus, Boston Metal’s modular Molten Oxide Electrolysis cells can be scaled up to meet production capacity targets from thousands to millions of tonnes of output for a customized steel manufacturing solution thus reducing investments

The startup’s core technology was invented at MIT in Professor Donald Sadoway’s lab. In the early 1980s, Prof Donald Sadoway’s MIT laboratory began research on an inert anode for aluminum manufacturing. In the late 1980s, he conceived of an electrolytic cell for the production of iron, and Molten Oxide Electrolysis was born. Professor Sadoway tested the MOE process using lunar-like soil from Meteor Crater in Arizona, which contains iron oxide from an asteroid impact thousands of years ago, finding that it produced steel as a byproduct. Professor Sadoway’s method used an iridium anode, but since iridium is expensive and supplies are limited, that’s not a viable approach for bulk steel production on Earth. But after more research and input from Allanore, the MIT team identified an inexpensive chromium-based alloy that can replace the iridium anode in molten oxide electrolysis in 2013. The anode stability is due to the formation of an electronically conductive solid solution of chromium and aluminium oxides in the corundum structure. These findings make practicable larger-scale evaluation of MOE for the production of steel, and potentially provide a key material component enabling mitigation of greenhouse-gas emissions while producing metal of superior metallurgical quality.

Bijlage:

Vertraagd	24 feb 2025 17:37
Koers	26,830
Verschil	-0,220 (-0,81%)
Hoog	27,020
Laag	26,600
Volume	1.746.632
Volume gemiddeld	2.637.315
Volume gisteren	1.778.340

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