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voda 2 februari 2023 07:38

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USW Approves Contract with Republic Steel

Strategic Research Institute
Published on :
2 Feb, 2023, 5:46 am

United Steelworkers have reached a contract agreement with Canton Ohio based SBQ leader Republic Steel. United Steelworkers District 1 Director Mr Donnie Blatt said “Members of Local 1200 in Canton ratified a new contract with the company on 10 January. The five-year deal includes wage increases, improvements to workers' vacation schedules and a plant-wide production bonus that will enable employees to make more money if they hit specific operational goals. It's going to be up to the company on some improvements they have to make on whether or not our employees will be able to hit those goals. We've been talking to them about making those improvements and making sure that our employees can be productive to get the extra benefit out of the plant-wide production bonus.”

Negotiations between United Steelworkers and Republic Steel started in June 2022. Both parties had to return to the bargaining table after union members rejected a contract proposal on 29 November 2022

The union represents about 500 workers across four facilities. It is part of United Steelworkers District 1, which encompasses Ohio and Michigan.

Republic Steel traces its roots back to 1886, with the establishment of Berger Manufacturing in Canton in Ohio. Berger later became part of Republic Steel Corp, the sprawling steelmaker organized by financier Mr Cyrus Eaton in 1930. In 1984, Republic Steel merged with LTV Cor.'s Jones & Laughlin division to form LTV Steel. In 1989, an employee stock ownership plan bought LTV's steel bar division and renamed it Republic Engineered Steels, marking one of the largest employee ownership transactions in industrial history. In 1998, RES and Bar Technologies combined to form Republic Technologies International, which approximately one year later acquired the steel bar business of USS/KOBE Steel in Lorain in Ohio. Republic Engineered Products was established in December 2003 with the purchase of operating assets from Republic Engineered Products. The company was acquired in July 2005 by Industrias CH, a rapidly growing steel producer and processor based in Mexico City. Republic Steel is a subsidiary of Grupo Simec, Guadalajara, Mexico, of which ICH is the majority owner.

The Lorain facility, located along the Black River, has a rich history dating back to 1895, when Thomas Johnson constructed the Johnson Steel Street Rail Company mill in just 10 months. Throughout its history, the plant has operated under several names, including Johnson Steel, Lorain Steel, National Tube Company of US Steel and Lorain Cuyahoga Works of US Steel, before becoming USS/KOBE in 1989.

Republic Steel now operates the best steel bar and other steel making facilities of these companies and is well positioned to write its own promising history.

voda 2 februari 2023 07:39

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Metinvest Develops Mobile Shelters for Ukraine's Defense Forces

Strategic Research Institute
Published on :
2 Feb, 2023, 5:47 am

Ukrainian steelmaker Metinvest announced that it has delivered hundreds of special mobile shelters to the defenders in the areas of the front, where the fiercest battles are taking place, in particular near Bakhmut, within the framework of the military initiative Steel Front of Rinat Akhmetov. These security modules allow armed forces to quickly equip mobile shelters at the forefront.

Prefabricated structures with a diameter of 2 meters and a length of 6 meters are manufactured at the company's enterprises. If properly installed one and a half meters underground, shelters are able to withstand artillery shelling with a caliber of up to 152 mm. The shelter, which can house six fighters at the same time, is equipped with a field oven that allows you to warm up, warm up food and dry clothes. The capsule provides air communications and racks for weapons; there is a main and backup exits to the surface. The production of one shelter requires almost 2 tonnes of Metinvest's steel, and work on it lasts 165 hours.

In addition, Metinvest's specialists have developed a prototype capsule that can also be used for civilian Ukrainians. The diameter and length of the structure were increased by one and half times, the internal equipment was improved, the sleeping places were replaced with benches. Final testing of the capsule is currently underway.

The geography of the capsules is quite wide: they reliably protect the lives of fighters in Avdiivka, Pokrovsk, Zaporizhia and Zhytomyr regions. And the other day Metinvest handed over shelter to the defenders, which will save the lives of soldiers near Bakhmut.

voda 2 februari 2023 07:39

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Tata Steel’s BOF Slag’s Sulphur Rich Dhurvi Gold Plant Starts

Strategic Research Institute
Published on :
2 Feb, 2023, 5:47 am

The Pioneer has reported that the production facility of Dhurvi Gold, a new crop nutrient product by the Alliances & Ventures Division of Tata Steel was at Adityapur Industrial Area in Jamshedpur. It would have a production capacity of 25,000 tonnes per annum. Commercial production will start soon. The plant has been set up by Pasa India’s sister firm Vardhan Resources as an External Processing Agent technical support from Tata Steel.

Tata Steel has developed a patented sustainable waste management technology for utilizing BOF slag to manufacture Sulphur rich nutrient supplement branded Dhurvi Gold. The product has positive effect on physico-chemical characteristics of the soil resulting into good growth, quality and economic yield across crops. Application of Dhurvi Gold helps in preventing diseases in crops, increases chlorophyll content in plants, provides Silicon to the soil, maintains PH of Soil to 7 besides increasing yield in crops varying from 15-60%. The product has the potential to reduce the usage of primary fertilisers by up to 50 per cent as indicated by the studies conducted by government authorities.

The product is currently sold in the states of Bihar, Jharkhand, West Bengal, Odisha and Maharashtra. The product enables farmers to enhance their farm productivity and also enrich the soil with essential nutrients such as Iron, Silicon, Calcium, Sulphur, Boron, Magnesium, Molybdenum etc.

voda 2 februari 2023 07:40

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Gonvari Solar Steel to Supply Trackers to Eiffage Energia Sistemas

Strategic Research Institute
Published on :
2 Feb, 2023, 5:48 am

Spain’s leading manufacturer of trackers and fixed structures for solar farms Solar Steel has signed an agreement with Eiffage Energía Sistemas to supply 16 MW of TracSmarT + 1V trackers (single- and dual-row).

Tomillar’s 16 MW project, which will be supplied entirely in the province of Albacete in Spain, will avoid the emission of 6,000 tonnes of CO2/year into the atmosphere by generating the annual energy equivalent to the consumption of 9,000 homes.

Gonvarri Solar Steel is a division of Gonvarri Industries dedicated to the design and manufacture of solar trackers and fixed structures for the photovoltaic energy sector, with more than 16 GW supplied worldwide.

voda 2 februari 2023 07:41

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Baowu Completes AEON Stainless Steel Cold Rolling Mill Automation

Strategic Research Institute
Published on :
2 Feb, 2023, 5:48 am

Baowu announced that the Indonesian AEON stainless steel cold rolling mill automation project, undertaken by Baoxin Software, has recently been successfully put into the whole process and produced the first coil of steel.

The tasks undertaken by Baoxin Software include transmission, basic automation, process management, design, supply, integration and commissioning of intelligent equipment. In view of the characteristics of the project being more than twice the length of the conventional cold rolling mill and the complexity of the whole system, the team members used the practical experience accumulated over the years to plan and design the production line, and comprehensively used various advanced technologies such as hyper-converged computer system, rapid failure analysis system, Baoxin iPlat platform, Baoxin real-time database, as well as various mature cold rolling control software products and intelligent application products, etc to tailor the command system for this cold rolling aircraft carrier.

Indonesia AEON stainless steel cold rolling project includes hot acid annealing pickling, continuous five-rack rolling, cold acid annealing pickling, flat full cold rolling process, with a total annual output of 700,000 tonnes, integrating energy saving, intelligence and automation, is currently the only advanced production line in the world that integrates multiple processes, not only creates a new record in the scale of stainless steel production line, but also takes a new step in technological innovation.

voda 2 februari 2023 07:42

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Primetals Completes Largest Automation Upgrade at Taiyuan Group

Strategic Research Institute
Published on :
2 Feb, 2023, 5:49 am

Primetals Technologies’ most extensive upgrade of process optimization systems to date was recently implemented at Taiyuan Iron and Steel Group’s steel plant in Taiyuan in Shanxi Province of China. Switching to the new systems took just one week and was accomplished remotely, marking project completion two months ahead of schedule.

Primetals Technologies upgraded the Level 2 automation systems at 14 steelmaking units across the entire meltshop, seven continuous slab casters, and the central management system for raw-material logistics and evaluation. Primetals Technologies has upgraded the process optimization software on 20 units in total: two electric arc furnaces, three AOD converters, one twin VOD plant, three twin ladle furnaces, two LD converters including a ladle stirring station, two twin-RH vacuum degassing systems, and seven continuous slab casters.

This comprehensive modernization enables TISCO to execute the steel-production process from a central control center, also sometimes called integrated control center. The upgrade ensures full plant automation, one-button steelmaking, as all systems are connected to the same unified network. The modernization of the Level 2 systems makes it possible for TISCO to calculate process parameters even more accurately using modern metallurgical models, which will improve the quality, productivity, and flexibility of TISCO’s production process.

The software system features a significantly improved user interface – the new version is easier to navigate and more intuitive for operators. In addition, the new interface simplifies the communication between the systems as well as the future implementation of extensions. The servers are virtualized, meaning that the process optimization solutions are operated without hardware, which in turn reduces the need for IT-related maintenance.

Founded in 1934, TISCO is a holding subsidiary of China Baowu Iron and Steel Group. The company has long focused on the development of special steels such as ultra-wide, ultra-thick and ultra-thin strip tubes, spring steel, hand tear steel, core steel, railway steel, duplex stainless steel, and high-quality silicon steel for electric vehicles.

voda 2 februari 2023 07:43

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Strike Halts Outokumpu Tornio Plant for 3 Days

Strategic Research Institute
Published on :
2 Feb, 2023, 5:49 am

Finland headquartered global stainless steel leader Outokumpu announced that the agreement was not reached in the negotiations between the Industrial Union and the employers of Technology Industries of Finland on 31 January. As a result, a strike by the Industrial Union, Trade Union Pro and the Association of Upper-Level Employees YTN stops Outokumpu’s Tornio plant in Finland during 1-3 February 2023. The strike affects approximately 1,700 employees, white-collar employees and upper-level employees* at Outokumpu's Tornio plant in Finland. The strike will not affect Outokumpu's Kemi mine, Tornio ferrochrome slab or Tornio harbor.

Outokumpu said “The Tornio plant is an integral part of the entire Outokumpu supply chain, as material is also delivered from Tornio to Outokumpu's factories in Germany. However, due to the short duration of the strike, its direct impact on the company's result is estimated to be limited.”

Outokumpu added “Production at Outokumpu's Tornio plant is expected to start on the 4 February. Negotiations between the Industrial Union and employers of Technology Industries of Finland will continue on Friday the 3rd of February. We hope that an agreement will be reached in the negotiations and that peace of mind at work will be restored as soon as possible.

voda 2 februari 2023 07:44

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NMDC Iron Ore Sales Shrinks by 9% in January 2022

Strategic Research Institute
Published on :
2 Feb, 2023, 5:50 am

Despite Indian crude steel production surging by 6% in 2022, Indian state owned iron ore giant NMDC has reported 9% YoY shrinkage in iron ore sales in January & April-January period

-------------------------------

Production January 2023

Chhattisgarh - 2.97 million tonne, down by 13% YoY

Karnataka - 1.23 million tonne, up by 8% YoY

Total - 4.2 million tonne, down by 8% YoY

------------------------

Sales January 2023

Chhattisgarh - 2.73 million tonne, down by 5% YoY

Karnataka - 1.11 million tonne, down by 18% YoY

Total - 3.84 million tonne, down by 9% YoY

-------------------------------------

Production April-January 2023

Chhattisgarh - 21.94 million tonne, down by 5% YoY

Karnataka - 9.2 million tonne, down by 7% YoY

Total - 31.14 million tonne, down by 5% YoY

------------------------------

Sales April-January 2023

Chhattisgarh - 20.89 million tonne, down by 11% YoY

Karnataka - 8.75 million tonne, down by 4% YoY

Total - 29.64 million tonne, down by 9% YoY

voda 2 februari 2023 07:44

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CELSA Cuts Carbon Emissions in Steel Making at Nervacero mill

Strategic Research Institute
Published on :
2 Feb, 2023, 5:51 am

Spain-based long steel producer CELSA Group announced that it has carried out the transformation of the melting furnace of its Nervacero steel mill in Basque Country in Spain to make it even more efficient and reduce carbon emissions derived from the smoke purification process which uses natural gas as energy. Thanks to the transformation of the furnace, Nervacero’s CO2 emissions as a whole will be reduced by 10% per year and natural gas consumption will decrease by 12% to 452Kw/t of steel produced.

Nervacero’s electric arc furnace until now included a smoke purification system that consumed natural gas. After the investment made, the furnace will be similar to the ones that the Group has in the rest of its facilities in Spain, and that has a more environmentally sustainable scrap melting process.

The initiative to reduce emissions and improve efficiency in Nervacero is in line with the company’s strategy and its sustainability roadmap, which has set itself the objective of reducing its CO2 emissions (scope 1 and 2) by 50% by 2030 (compared to 2019 in CO2 intensity) and becoming a Net Positive company by 2050.

Regarding its circularity objectives, CELSA Group expects to reach 98% circularity in 2030, and complete its circularity and be a Zero Waste company in 2050.

CELSA Group is the first European producer of low-emission circular steel with the largest circular supply chain in Europe. It recycles ferrous scrap to produce steel in electric arc furnaces, using the most sustainable technology and the most environmentally and energy efficient. The company is made up of 6 business groups and has 120 work centers, 7 steel mills, 11 rolling mills and 45 recycling plants, as well as transformation and distribution companies, which generate direct, indirect and induced employment for more than 70,000 professionals. It is present in Spain, France, United Kingdom, Denmark, Finland, Norway, Poland, Switzerland and Ireland.

voda 2 februari 2023 07:45

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EUROFER Seeks Policy Support for Steel Sector Decarbonization

Strategic Research Institute
Published on :
2 Feb, 2023, 5:51 am

European Steel Association EUROFER, following the Commission Communication on the Green Deal Industrial Plan, has highlighted that as the foundations of the Net-zero Age are made of steel, from wind turbines to electric vehicles, the new EU Industrial Plan must have an overall vision, while its implementation will be crucial to adopt a value chain approach focusing on all key upstream and downstream sectors that are indispensable for reaching the EU’s climate and circular economy objectives. EUROFER said “The Green Deal Industrial Plan must provide a business case for investment in Europe comparable to the U.S. one. Otherwise, green steel projects as well as other clean tech investments risk not happening in Europe. Competitiveness will be key to attract clean investment in the EU as the Inflation Reduction Act will do in the US.”

EUROFER Director General Mr Axel Eggert said “The IRA shows that it is possible to have a proactive, structural, carbon-neutral industrial policy centered on incentives and industrial competitiveness, rather than relying primarily on obligations and targets complemented only by piecemeal, uncertain. We estimate that the IRA, combined with additional resources from the US Department of Energy, can provide at least USD 85 billion of funding available for green steel production and upstream decarbonized energy.’

Mr Eggert stressed “We call on the Commission to work out, jointly with industry, a concrete plan that secures access to timely, abundant and affordable fossil-free energy and hydrogen for steel and other sectors which are ready to speed up decarbonization, as well as access to Carbon Capture, Utilization and Storage, together with more certainty for and swifter access to funding and permitting of projects. A structured, comprehensive and long-term EU proposal on industrial policy should aim at matching the level of incentives provided by our international competitors. Implementation will be key.”

He concluded “This is why we should consider a re-assessment of the EU policies, based on the principles of competitiveness and level-playing field, with an open and target-focused discussion between policymakers and the industry. They can be mainstreamed and actively promoted in all relevant policy areas for industry, as the US has already done with the IRA.”

According to EUROFER’s projections, the US measures will result in a significant reduction of the cost of green hydrogen by about USD 3 and up to USD 4 per kilogram of hydrogen. This means that the IRA subsidies risk widening the current gap in steel cost production between the EU and the US up to 60%.

voda 2 februari 2023 07:47

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Cade to Relook at Siderurgica do Pecem Sale to ArcelorMittal

Strategic Research Institute
Published on :
2 Feb, 2023, 5:52 am

Brazilian media has reported that, following a request for review of market conditions made by Usiminas, the purchase of Companhia Siderúrgica do Pecém CSP by ArcelorMittal remains open and should be analyzed the Court of the Administrative Council for Economic Defense Cade, which was earlier approved. According to CADE, Usiminas has added new and valuable technical data to the process, requiring further discussion on the sale.

Cade said “The risk of market closure was considered; the consequent increase in costs for competitors; and the possibility of sharing your sensitive data. The process was then forwarded to the Court so that the body could better deal with the case and eventually request clarifications and instructive steps that definitively rule out possible gaps in the analysis of the Merger Act.”

Cade said “It is noted that, despite the approval of the Operation without restrictions, the Interested Party contributed valuable technical foundations, all backed by data that allow admitting, even if a priori, the need to deepen the technical debates within the scope of the Court, with the collaboration of the interested parties. In this specque, it is indispensable to verify if the Operation can affect the activities of the other companies that operate in the market.”

The Brazilian antitrust authority CADE had approved recently, without restrictions, the acquisition of Companhia Siderurgica do Pecem by ArcelorMittal, for USD 2.2 billion. According to Cade, elements relative to imports and competition in the slab market can mitigate the possibility of market power abuse in the future.

ArcelorMittal had signed an agreement with the shareholders of Companhia Siderúrgica do Pecém to acquire CSP for an enterprise value of approximately USD 2.2 billion.

CSP and Ternium are the main players in the Brazilian slab domestic market, with market share ranges respectively of 30-40% and 50-60%, while ArcelorMittal, CSN, Gerdau and Usiminas have less that 10% each of market share.

Located in Ceará in Brazil and founded in 2008, CSP is a joint venture between Vale 50%, Dongkuk 30% and Posco 20%. CSP was originally a JV of Vale with 50%, Dongkuk 30% and POSCO 20%. It operates a 3 million tonne capacity blast furnace and has access via conveyors to the Port of Pecém, a large scale deep water port located 10 kilometers from the plant. CSP operates within Brazil’s first Export Processing Zone and benefits from various tax incentives including a low corporate income tax rate.

Bijlage:

voda 2 februari 2023 07:48

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British Steel Considering Cutting Jobs in Scunthorpe Coke Oven

Strategic Research Institute
Published on :
2 Feb, 2023, 5:52 am

British Steel is considering cutting up to 1,200 jobs at its steelworks in Scunthorpe in UK as officials told union leaders at a meeting on Wednesday afternoon that they are considering closing coke ovens at the plant and making hundreds more cuts across its operations. Unions have been informed that the future of British Steel’s coke ovens and its 300 jobs were under review, but it could also make between 600 and 900 cuts across the broader operations. British Steel has not started a formal consultation on the job cuts and it did not outline a timeline in the meeting

The Unite General Secretary Ms Sharon Graham said “This proposal is down to a greedy employer and a shambolic government. Unite completely rejects the plans of British Steel’s multibillion-pound Chinese owners to cut over 1,000 jobs at its plant in Scunthorpe. Steelworkers are suffering from a catastrophic failure in leadership from both the Jingye Group, who own British Steel, and by the government.”

Community said job cuts could directly endanger workers by giving them little choice but to work longer hours. Community’s national officer Mr Alun Davies said “He is extremely concerned about the plan. This move would represent a betrayal of their loyal workforce and British Steel’s commitments to invest in the business. We believe this would put staff at risk and is completely unworkable. British Steel is already putting staff at risk by making them work overtime every single week. Cutting hundreds of jobs in this situation will endanger workers by pushing them to work even longer hours in extreme temperatures.”

Jingye took over British Steel in 2020 after it collapsed and the UK government was forced to step in to keep it running. Jingye pledged to invest GBP 1.2 billion in the plant by the end of the decade, although those plans are not thought to have been carried out.

voda 2 februari 2023 07:48

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Indian Steel Industry Captains Welcome Budget 2023

Strategic Research Institute
Published on :
2 Feb, 2023, 5:53 am

India’s Finance Minister Ms Nirmala Sitharaman made a slew of proposals while presenting the Union Budget 2023, including capital outlay of INR 2.04 lakh crore for Indian Railways, 50 new airports, helipads, water aerodromes, and advanced landing grounds for improving regional air connectivity, 100 critical transport infrastructure projects for last- and first-mile connectivity for ports, coal, steel, fertilizer and food grain sectors etc, that can benefit India’s steel sector.

Indian Steel Association President and CEO of AM/NS India and Executive Vice President of ArcelorMittal Mr Dilip Oommen has said that “A progressive ‘Saptarishi’ Budget, the first in Amrit Kaal, has hit the right notes to fuel growth across industries and propel India to become a global manufacturing hub. A significant 33% increase in capital expenditure to INR 10 lakh crore, 3.3 % of the GDP, thrust to fast-track infrastructure development, and the highest ever INR 2.40 lakh crore for railways will translate into robust domestic steel demand, thus spurring private investments and job creations. First and last-mile connectivity for sectors like steel, ports, coal, etc. with an investment of INR 75,000 crore will improve logistics efficiency. This Budget is focused on growth and improving consumption. At the same time, there is a focus on the green economy and digitalization. Reforms are on the right trajectory of fiscal consolidation to reach the targeted fiscal deficit level below 4.5% by 2025-26. The Budget underpins a long-term plan that shows the right path to drive economic revival at a time when advanced economies are facing a tough time.”

Tata Steel MD & CEO Mr TV Narendran said “The finance minister has presented a high-quality budget that focuses on increasing capital expenditure to build infrastructure while at the same time not compromising on the fiscal discipline that is so essential in an era of rising interest rates. The finance minister has also taken multiple actions to support the agriculture sector and the rural economy. The focus on health expenditure also assuages concerns of the underprivileged sections of the society about unplanned medical expenditure. There is also a more holistic focus on logistics with significant investments in the Railways as well as proposed work on coastal shipping. The budget also assigns resources for the long-term and important transition to a greener future. The support to the tourism sector and to MSME’s were also much needed as these sectors suffered the most during covid. Overall a very comprehensive budget which has something for everyone.”

A quick search of Budget Highlights shows that Ms Sitaraman, except to facilitate availability of raw materials for the steel sector, exemption from Basic Customs Duty on raw materials for manufacture of CRGO Steel, ferrous scrap and nickel cathode is being continued, did not include any suggestions from the long wish list of Indian steel industry, which had included

1. Safeguard Duty of up to 25% on HR coil, sheets and plates as well as color coated and wire rods

2. Increase in basic customs duty to 12.5%for all steel products including semis, flats and longs

3. Inclusion of import of steel products in quality control order

4. Import of all non-prime steel products to be restricted to select ports for 100% testing and inspectionMumbai, February 01, 2023

voda 3 februari 2023 06:52

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EC Unveils Green Deal Industrial Plan for Transition to Net Zero

Strategic Research Institute
Published on :
3 Feb, 2023, 5:36 am

The Plan aims to provide a more supportive environment for the scaling up of the EU’s manufacturing capacity for the net-zero technologies and products required to meet Europe’s ambitious climate targets. The Plan builds on previous initiatives and relies on the strengths of the EU Single Market, complementing ongoing efforts under the European Green Deal and REPowerEU. It is based on four pillars: a predictable and simplified regulatory environment, speeding up access to finance, enhancing skills, and open trade for resilient supply chains.

In response to the US Inflation Reduction Act, the EU Commission is relying on a relaxation of EU state aid rules until the end of 2025, which would allow member states to grant their companies tax breaks. Since not all EU states would have the necessary financial resources, the remaining money from the Corona reconstruction fund could be used to grant tax breaks. In addition, the remaining EUR 250 billion from the reconstruction fund and the Repower EU programme, as well as a further €100 billion from the EU structural funds, could also be used in response to the US aid package. In general, companies from those sectors that are relevant for the transformation should be promoted. Companies that receive subsidies for investments in third countries should be able to receive the same amount of funds from the respective EU state in order to keep them in the country. On 9 February, the heads of state and government are to discuss the Green Deal industrial plan at a special summit. The EU Commission wants to present concrete legislative proposals before the next summit in March.

European Commission President Ms Ursula von der Leyen said “We have a once in a generation opportunity to show the way with speed, ambition and a sense of purpose to secure the EU’s industrial lead in the fast-growing net-zero technology sector. Europe is determined to lead the clean tech revolution. For our companies and people, it means turning skills into quality jobs and innovation into mass production, thanks to a simpler and faster framework. Better access to finance will allow our key clean tech industries to scale up quickly.”

voda 3 februari 2023 06:55

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ETC Lays Roadmap for Steel Decarbonization in UK

Strategic Research Institute
Published on :
3 Feb, 2023, 5:38 am

the Energy Transitions Commission highlights the key actions needed by industry and government to enable a first wave of near-zero emissions primary ore-based steelmaking projects in the UK. ETC said “Currently, such projects face a gap to a viable investment case, so urgent action is needed to create certainty for investors and financiers to make final investment decisions and take this vital step in the net-zero transition. The necessary breakthrough iron and steelmaking technologies are available today, and the UK can join countries around the world in pioneering their deployment.”

ETC said “The right conditions for encouraging project proposals and enabling FIDs in the UK are within reach. Crucial actions include implementing effective carbon pricing on steel imports as well as domestic production, lowering electricity prices to make scrap recycling more economical, premium forward off take agreements, guarantees to manage technology risk, and direct government support, particularly for the high upfront costs of developing breakthrough projects. All these actions are feasible in the short term and could unlock a first wave of breakthrough steel investments in the UK.”

Key conditions for a viable investment case

A final investment decision represents a critical point in the steel investment process, signaling a firm financial commitment upon which contractors can proceed with procurement, construction, design, and engineering works. FID status, therefore, represents a vital step to realizing a steel project in the real world. This report demonstrates that progressing UK breakthrough steel projects to FID is possible. Creating the conditions to enable this will rely on the following interventions by government, industry, buyers, and financial institutions:

Effective carbon pricing – The UK government is reported to be considering support measures totaling £600 million to maintain and green production at the country’s existing integrated steelmaking sites. Investing to transition the sites to breakthrough technologies would be a good use of this funding, but not if the resulting plants remain systematically uncompetitive with steel imports that face lower or zero carbon costs. Implementing a UK carbon border adjustment mechanism (or equivalent measure) to ensure both steel imports and domestic production face the same progressive carbon pricing would be essential.

Lower electricity prices to enable scrap recycling – Lowering electricity prices would help reduce a key cost driver for breakthrough steel production. In particular, it would reduce the electricity costs associated with recycling steel, enabling breakthrough projects to better leverage the UK’s supply of scrap steel, which is currently underutilized and exported in volumes of around 8 million tonnes per year.

Premium forward off take agreements – Forward purchase agreements from steel buyers, involving an initial price premium commensurate with the costs of producing breakthrough products, will be important for firming up revenue streams for breakthrough projects and underpinning their investment case.

Guarantees for technology risk – Financial guarantees, normally backed by government or public financial institutions, would help de-risk the uncertainty associated with novel breakthrough technologies and gives the financiers the confidence to commit to FIDs.

Government funding – Breakthrough projects that preserve iron making capacity in the UK will likely require a level of direct government support. Subsidies for their high upfront capital expenditures would allow government to provide adequate support in a one-off mechanism. Subsidies for operational expenditures, chiefly for green hydrogen, would also be very impactful but would involve a longer-term commitment on the part of government.

Cross-value chain collaboration is needed, particularly government intervention.

voda 3 februari 2023 06:56

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Vietnam to Hold Consultation on Billet & Long Products Safeguards

Strategic Research Institute
Published on :
3 Feb, 2023, 5:38 am

The Trade Remedies Department of Vietnam will hold a consultation session so that relevant parties can present their views on the case of the final review of the application of safeguard measures for billet and long steel products imported into Vietnam on 3 March 2022.

On July 18, 2016, the Ministry of Industry and Trade of Vietnam issued Decision No. 2968/QD-BCT on the application of official safeguard measures to billet and long steel products imported into Vietnam.

On August 22, 2019, the Ministry of Industry and Trade of Vietnam issued Decision No. 2605/QD-BCT on the final review of safeguard measures for billet and long steel products imported into Vietnam.

On March 20, 2020, the Ministry of Industry and Trade of Vietnam issued Decision No. 918/QD-BCT extending the application of safeguard measures to billet and long steel products imported into Vietnam.

On July 7, 2021, the Ministry of Industry and Trade of Vietnam issued Decision No. 1726/QD-BCT amending and supplementing Decision 918/QD-BCT dated March 20, 2020, of the Minister of Industry and Trade.

On August 12, 2022, the Vietnam Trade Remedies Department issued Notice No. 13/TB-PVTM on the receipt of the dossier requesting the final review of safeguard measures for billet and long steel products.

On November 4, 2022, the Ministry of Industry and Trade of Vietnam issued Decision No. 2323/QD-BCT on the second final review of the application of safeguard measures to billet and long steel products.

voda 3 februari 2023 06:56

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Worthington Industries Announces Leadership Teams

Strategic Research Institute
Published on :
3 Feb, 2023, 5:39 am

effective upon completion of Worthington’s planned separation of the Steel Processing business. New Worthington will be a market-leading company with premier brands in attractive end markets in Consumer Products, Building Products and Sustainable Energy Solutions. In addition to President and CEO Andy Rose, the New Worthington leadership team will comprise the following:

Joe Hayek, Executive Vice President and Chief Financial and Operations Officer: Hayek has been with Worthington since 2014 and was named vice president and chief financial officer in November 2018. Prior to Worthington, Hayek held leadership roles at PCM, Inc. and spent 10 years in investment banking with Raymond James.

Eric Smolenski, President, Building Products and Sustainable Energy Solutions: Smolenski joined Worthington Industries in 1994 and has served in several leadership roles across the organization including vice president of Human Resources, Chief Information Officer and president of Pressure Cylinders. He was named president of Building Products and Sustainable Energy Solutions in June 2021.

Steve Caravati, President, Consumer Products: Since joining Worthington over 17 years ago, Caravati has taken on several roles within Worthington’s Consumer Products business, including national account manager, director of sales, product director, business director and general manager. He was named president of Consumer Products in June 2021.

Sonya Higginbotham, Senior Vice President and Chief of Corporate Affairs, Communications and Sustainability: Higginbotham joined Worthington in 1997 and in 1999 helped form Worthington’s Corporate Communications department. She was named vice president of Corporate Communications and Brand Management in September 2018 and leads Worthington’s internal and external communications, brand strategy, marketing, government relations, philanthropic activities and most recently, sustainability initiatives.

Headquartered in Columbus in Ohio, Worthington operates 52 facilities in 15 states and nine countries, sells into over 90 countries. For over six decades, the Company has been delivering innovative solutions to customers spanning industries such as automotive, energy, retail and construction. Worthington is North America’s premier value-added steel processor and producer of laser welded solutions and electrical steel laminations that provide light weighting, safety critical and emission reducing components to the mobility market.

voda 3 februari 2023 06:57

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CDP Awards Leadership Status for German Steel Maker SHS Group

Strategic Research Institute
Published on :
3 Feb, 2023, 5:40 am

Carbon Disclosure Project awards top marks again to the sustainability management at the SHS – Stahl-Holding-Saar, Saarstahl and Dillinger. The companies of the SHS Group have obtained leadership status with an overall grade of A- in the “Metal smelting, refining & forming” industry. By signing the Science Based Targets Initiative declaration of commitment, the steel producer is strengthening its position as a responsible company.

The SHS Group with Dillinger and Saarstahl achieved the top “A” grade in seven of eleven categories. The steel producer achieved an overall A- rating and was therefore awarded leadership status. This puts SHS – Stahl-Holding-Saar above the industry average in Europe (B rating) and worldwide (C rating). The result of the current CDP ranking is available for interested customers.

The aim of the annual rating by the non-profit organization CDP is to achieve the greatest possible transparency in the environmental data of companies, organizations, or cities. For this purpose, CDP collects voluntarily provided data and information and evaluates these according to eleven different categories. This includes business and financial planning, supply chain responsibility, governance, and energy savings or emissions reduction initiatives.

voda 3 februari 2023 06:58

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Baowu’s Masteel Supplies Rail Wheels to Turkey & South Korea

Strategic Research Institute
Published on :
3 Feb, 2023, 5:40 am

A new subway line connecting Istanbul Airport and the city center in Turkey was officially opened on 22 January 2023. It is reported that this subway line is the first high-speed subway line in Turkey and also the fastest running subway line in Turkey's history. The wheels used for the subway trains running on this line are all provided by Masteel.

Also, recently a South Korean high-speed train loaded with high-speed wheels and axles supplied by Masteel Wheel & Axle was officially delivered to the Ministry of Railways of South Korea and entered the trial operation stage. This is the first high-speed rail axle project exported to South Korea, which was independently produced and designed by Masteel Wheel & Axle. The high-speed rail line will begin official operations in 2024.

In August 2021, Masteel Wheel & Axle won the qualification of designing and manufacturing the batch supply of GTX high-speed wheels and axles in South Korea, and obtained an order totaling more than one thousand pieces of GTX high-speed wheels and axles with a design speed of 200km per hour. At present, GTX wheels and axles have been supplied in batches.

voda 3 februari 2023 06:58

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Severstal Plans USD 1.1 Billion CAPEX for 2023

Strategic Research Institute
Published on :
3 Feb, 2023, 5:41 am

Russia’s leading steelmaker Severstal plans to invest USD 1.1 billion in a number of major projects in its Severstal Russian Steel and Severstal Resource divisions. In addition, the Company continues to focus on implementation in key areas, namely information technology, industrial safety and the environment. Severstal CEO Mr Alexander Shevelev said “In a volatile environment, flexibility and a quick response to changes, including in investments, are especially important. We continue to implement large-scale projects that help us maintain a leading position among our peers in terms of production costs and to enter new markets and niches. Thanks to the impact of investment projects that we have already implemented, we are able to maintain leadership in terms of reducing costs and to respond flexibly to environmental challenges. As a major business, we certainly understand the importance of supporting people in the regions where we operate, and we will continue to implement charity projects. According to our plans, our capital investments for 2023 will be comparable to last year’s investments.”

In 2023, Severstal will invest USD 544 million on projects to maintain existing capacities, and USD 59 million on improving its system for industrial safety, occupational health and the environment

Investments in IT and digital projects will amount to USD 76 million: the top projects include the development of the domestic software industry within the framework of industrial competency centres, the modernization and development of IT infrastructure, as well as projects related to the further digitalization of production.

The Company plans to allocate USD 449 million for development projects: improving product quality, reducing costs and developing new types of products.

Severstal plans to invest RUB 3.1 billion in charity and social programs this year, RUB 1.5 billion of which will be invested in the first stage of a project Assistance in Cherepovets urban environment improvement, the reconstruction of Sovetsky Prospekt and Serpentine Park.

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