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voda 6 maart 2023 06:54

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Union Bank to Sell ? 410 Crore Visa Steel Loan

Strategic Research Institute
Published on :
6 Mar, 2023, 4:49 am

Union Bank of India has put on sale ? 410-crore loan of bankrupt Visa Steel and fixed the reserve price at ? 164.28 crore, entailing a recovery of 40%, says Economic Times, citing two people aware of the development

Union Bank's ask is higher at 40% compared to 33% recovered by SBI and, therefore, we will wait to see if Union will receive bids at this price, says a senior executive at an asset reconstruction company.

Last month, State Bank of India had sold ? 697 crore Visa Steel loan to Ares SSG-backed Asset Care Reconstruction Company for 230 crore.

voda 6 maart 2023 06:55

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Ramkrishna Forgings Plans 8MW Solar Power at Plant Rooftop

Strategic Research Institute
Published on :
6 Mar, 2023, 4:51 am

Ramkrishna Forgings is planning multi-crore investments to set up around 85MW renewable energy capacity over the next 12 months, says PTI. Out of the planned 85MW, about 8MW roof-top solar project will be set up at the company's forging plants at Sariekella and Dugni in Jamshedpur at estimated investment of ? 35 crore, says CFO Mr. Lalit Khetan

Our commitment is responsible business practices and dedication to reducing carbon footprint. We look to explore setting up another solar capacity of up to 75 MW in Jamshedpur, adds Mr. Khetan

The power generated will be used for captive consumption, reducing the company's dependence on grid power, he said.

Kolkata-based Ramkrishna Forgings is a manufacturer and supplier of closed-die forgings of carbon and alloy steel, micro-alloy steel and stainless steel forgings. The company also has presence in countries like the US, Mexico, Istanbul, Turkey and Belgium.

voda 6 maart 2023 06:55

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JSW Infrastructure Bids for Berth 5 at Haldia Dock Complex

Strategic Research Institute
Published on :
6 Mar, 2023, 4:54 am

JSW Infrastructure has submitted a bid for a 30 year concession to mechanise and operate a Berth no 5 at Haldia Dock Complex, entailing investments of about ? 350 crore, says The Telegraph, on design, build, finance, operate and transfer basis. The scope of work envisages fully mechanized operation involving unloading from ship by a mobile harbor crane, putting the cargo on conveyor belt to yard and then loading on to railway rakes by wagon loading station. The other entities in the fray include OSL, IRC and a consortium of Ripley & Co.

The optimal capacity of the berth is projected to be 5M metric ton cargo per annum and the targeted cargo is bulk items such as coal, iron ore and manganese ore.

The automated process will increase the cargo handling capacity by weeding out the existing semi-mechanized system in which the cargo is moved from the berth by truck to the yard and then loaded on to railway rakes by cranes. Faster evacuation of cargo would translate into savings on logistic cost for the trade. However, it could also mean more ships sailing into the dock navigating the narrow riverine channel of river Hooghly from Bay of Bengal. Due to siltation on the riverbed, large ships cannot dock at Haldia, limiting cargo load up to 30,000 tonne per vessel.

Syama Prasad Mookerjee Port, Kolkata, which operates Haldia Dock Complex, hopes to conclude the process to identify the successful bidder by September. The aspirants need to secure several permissions from the Centre, including a national security clearance, before submitting the price bid which will be called later.

voda 6 maart 2023 06:57

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Bamboos Replace Steel Crash Barrier on a Highway in Maharashtra

Strategic Research Institute
Published on :
6 Mar, 2023, 4:58 am

The creation of the world’s first 200m long bamboo made crash barrier, known as Bahu Balli, is built on the Vani-Warora Highway in Vidarbh, Maharashtra offering an environmental friendly alternative to steel. The bamboo species used in making this barrier is Bambusa Balcoa, which is treated with creosote oil and coated with recycled High-Density Poly Ethylene.

The bamboo crash barrier was rated as Class 1 during the fire rating test carried out at the Central Building Research Institute in Roorkee. It underwent rigorous testing at numerous government run institutions, including the National Automotive Test Tracks in Pithampur, Indore. It has also received approval from the Indian Road Congress.

voda 6 maart 2023 06:58

0

Odisha Approves 8 Steel Project

Strategic Research Institute
Published on :
6 Mar, 2023, 5:00 am

Odisha Government’s State Level Single Window Clearance Authority has approved 25 industrial projects with a cumulative investment of 5,827 crores. A total of 8 projects received approval in the steel segment, including 3 projects in the steel downstream segment and 2 projects in the steel, & ferroalloys segment.

The 8 projects are estimated to provide employment opportunities to over 3000 people of the state. While 3 of the units are set to come up at Kalinga Nagar, the rest of them will be set-up in various other parts of the state like Mandiakudar, Bonai, Lathikata, Rairangpur and Jamda Block. A total of 2418 crore will be invested by these 8 organizations from the steel sector.

voda 6 maart 2023 06:58

0

SAIL to Sell SSP Non-Core Land to Tamil Nadu for Privatization

Strategic Research Institute
Published on :
6 Mar, 2023, 5:13 am

An internal note of the Ministry of Steel reveals that Steel Authority of India Ltd has reportedly agreed to give up non-core land, which is not covered under the divestment process, to the Tamil Nadu government to facilitate divestment of Salem Steel Plant, says Hindu Business Line reports

SAIL will part with 1,600 acres of land at market rate, which is anticipated at ? 2,000 crore and this land parcel is to be used by the Tamil Nadu government for its defense corridor and SAIL will be left with 600 acres of non-core land still.

According to the ministry’s note, the transaction advisor could not arrange visits of the short-listed bidders due to law and order issues and DIPAM has taken up the matter with the Ministry of Home Affairs and Government of Tamil Nadu.

The Union Cabinet had approved the divestment of Salem Steel Plant in October 2016. Bidding documents were issued to short-listed bidders on December 2020. The last date for submission of comments on definitive draft agreements was extended to July 2022, whereas the last date for submission of non-financial bids and financial bids was extended to August 2022.

SAIL has appointed SBI Capital Markets as the transaction advisor, Saraf & Partners as the legal advisor, Protocol Insurance Surveyors & Loss Assessors as Asset Valuer and KPMG as the tax-cum-accounting consultant.

Salem Steel Plant, a special steel unit, pioneered the supply of wider-width stainless steel sheets and coils in India. The plant can produce stainless steel in the form of coils & sheets, with an installed capacity of 70,000 metric ton per year in a Cold Rolling Mill, and 364,000 metric ton per year in a Hot Rolling Mill. The steel melting shop can produce 180,000 metric ton of slabs per annum.

voda 6 maart 2023 06:59

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Sims to Expand Steel Scrap Business amid Shift to Green Steel

Strategic Research Institute
Published on :
6 Mar, 2023, 5:15 am

Australia headquartered metal recycling giant Sims intends to sell its 50% stake in renewable energy group LMS Energy, which operates 36 plants turning biogas into energy and six solar plants, after a strategic review of assets that it is better-off putting more funds into its core business of metal recycling, says Sims Chief Executive Mr. Alastair Field, reports AFR

Green steel represents a big opportunity because customers and end users would require more scrap metal to be able to meet decarbonization targets, says Mr. Field

The opportunities in green steel are vast for Sims as steel scrap is used as a feedstock for steel producers running electric arc furnaces, which are viewed as slightly better for the environment than traditional coal-fired blast furnaces.

voda 6 maart 2023 06:59

0

Tata Steel Pays Homage to JN Tata on 184th Birth Anniversary

Strategic Research Institute
Published on :
6 Mar, 2023, 5:17 am

Tata Steel has paid homage to its Founder Jamsetji Nusserwanji Tata, also regarded as the legendary ‘Father of Indian Industry’ on his 184th Birth Anniversary. Celebrated as the Founder’s Day, the flagship event happens every year at Jamshedpur on3 March to pay tributes to the founder’s vision of an industrial future with community welfare at its core. The theme of this year’s celebrations is “Geennovation - Make Tomorrow Green”.

The event in Jamshedpur was graced by Mr. Noel N Tata, Vice Chairman, Tata Steel and Mr. TV Narendran, CEO & MD, Tata Steel. Other senior company officials, as well as Union members, were also present during the occasion.

Today we celebrate the pioneering spirit of our Founder, who spearheaded the founding of this inspiring city, as well as successive generations of leaders, each of whom played a key role in nation-building – not only in industrialization but also in community support, says Mr. Noel N Tata.”

voda 6 maart 2023 07:00

0

Nippon Steel Corporation Issues Green Bond

Strategic Research Institute
Published on :
6 Mar, 2023, 5:18 am

Nippon Steel has determined the terms and conditions for the issue of its 7th and 8th Series of Unsecured Straight Bonds with inter-bond pari passu clause to fund production facilities for non-oriented electrical steel sheets for eco-friendly car motors and a part of the proceeds will be allocated to replenish cash reserves previously used for to fund the construction of the non-oriented electrical steel sheets production facilities

Nippon Steel Corporation 7th Series

¥ 30B

Denomination of each bond ¥ 100M

Interest rate 0.564% per annum

Maturity date 17 March 2028

Nippon Steel Corporation 8th Series

¥ 20B

Denomination of each bond ¥ 100M

Interest rate 1.150% per annum

Maturity date 3 March 2023

Nippon Steel has formulated the Nippon Steel Green Bond Framework in accordance with the International Capital Market Association’s “Green Bond Principles 2021” and the Ministry of the Environment's “Green Bond Guidelines 2022”.

voda 7 maart 2023 06:38

0

Shipbreaking Business Continues to Roll

Strategic Research Institute
Published on :
7 Mar, 2023, 5:26 am

A strong showing from nearly all of the major recycling markets over the last few weeks has left a far rosier picture, especially in India, Bangladesh and even Turkey, and has encouraged a few more Sellers to market their vessels for sale for recycling, says World’s leading buyer of old ships for recycling GMS

Indeed, several sales market and reportedly even private units have also been concluded last week, including another large LDT LNG, rich in non-ferrous, and another Capesize Bulker. However, it has been a good week for dry charter rates, Capes in particular with some healthy gains posted to alleviate some of the doom and gloom witnessed over the last few weeks. Recycling markets can therefore rest easy that the hitherto expected deluge of tonnage is unlikely to materialize any time soon, says GMS

Overage containers and dry bulk units are still the most likely to head for recycling, amidst a healthy outlook in the tanker & wet sector at last, but the recent bullishness displayed in freight sectors has overall put a bit of a dampener on the expected output of supply, adds GMS

On the local markets front, India has done away with the GST tax on the import of ships for recycling, in order to improve margins for End Buyers by about 2.5% and this has already started to reflect in the local markets that are showing greater positivity this week.

Bangladesh has been the main proponent of the surging markets for the week, with prices pushing on and sentiments soaring as demand has built up after a fairly inactive 6-8 months. This is in contrast to a glum Pakistani market, where LC approvals are struggling even more than Bangladesh, whereas the Bangladeshi market is starting to ease up somewhat on LCs for select Buyers with private banking means for financing on fresh vessels.

At the far end, the Turkish market spent a week of inactivity, with steady plate prices, import & local, strong offerings, and still no confirmation on local fixtures.

GMS demo rankings – India/Pakistan/Bangladesh – Week 09 up USD 10 WoW

Dry Bulk – USD 525-580 per LDT

Tankers – USD 535-600 per LDT

Containers - USD 545-620 per LDT

voda 7 maart 2023 06:39

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POSCO Joins Recovery Projects in Typhoon Hinnamnor Hit Areas

Strategic Research Institute
Published on :
7 Mar, 2023, 5:29 am

South Korean steel giant POSCO has signed an agreement with Government of North Gyeongsang Province in Andong, the provincial capital, for recovery efforts in the areas inflicted by Typhoon Hinnamnor last year, says Korea Herald

Under the agreement, POSCO will supply resources, including steel products, to be used in construction sites in Pohang and Gyeongju, the hardest-hit areas. POSCO has pledged to prioritize the production of the steel products needed and offer guidance on building disaster-resilient infrastructure.

The provincial government plans to complete the necessary environmental impact assessments as soon as possible to commence the construction projects in April.

voda 7 maart 2023 06:40

0

US Steel Production Capacity Utilization Slips in Week 9

Strategic Research Institute
Published on :
7 Mar, 2023, 5:32 am

American Iron & Steel Institute reported that in week ending on March 4, 2023, US’s domestic raw steel production was 1.664M net ton while the capability utilization rate was 74.4%. Production was 1.729M net ton in the week ending March 4, 2022 while the capability utilization then was 79.6%. The current week production represents a 3.8% decrease from the same period in the previous year. Production for the week ending March 4, 2023 is down 0.6% from the previous week ending February 25, 2023 when production was 1.674M net ton and the rate of capability utilization was 74.9%.

Southern: 717,000 net ton

Great Lakes: 533,000 net ton

Midwest: 206,000 net ton

North East: 143,000 net ton

Western: 65,000 net ton

Adjusted year-to-date production through March 4, 2023 was 14.836M net ton, at a capability utilization rate of 73.7%. That is down 5.4% from the 15.683M net ton during the same period last year, when the capability utilization rate was 80.2%.

Broken down by districts, here’s production for the week ending March 4, 2023 in thousands of net tons:

voda 7 maart 2023 06:40

0

Mr. Ian Darby is New MD UK’s Association of Steel Service Centers

Strategic Research Institute
Published on :
7 Mar, 2023, 5:34 am

UK’s National Association of Steel Service Centers has announced that Mr. Martin Maley has left the post of Director General with effect from the 28 February 2023 and Mr. Ian Darby has been employed on an interim basis to the post, tasked with bringing in new, and hopefully encouraging previous members to re-join the Association.

Mr. Ian has been working as the Finance Manager for NASS, and his father, Mr. John Darby who worked in the same position for many years before him.

voda 7 maart 2023 06:41

0

CMC Acquires Tennessee Metal Recycler Roane Metals

Strategic Research Institute
Published on :
7 Mar, 2023, 5:36 am

Commercial Metals Company has acquired all the assets of metal recycling company Roane Metals Group. Roane is capable of processing 85,000 net ton of ferrous and nonferrous materials annually at its two facilities located in Tennessee. The majority of volumes relate to obsolete ferrous scrap grades consumed by CMC's long product mills.

The acquired assets are expected to enhance the security and supply of competitively priced inputs to CMC's steelmaking operations.

voda 7 maart 2023 06:42

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Inox Ri Phat Expands Industrial Stainless Steel Product Line

Strategic Research Institute
Published on :
7 Mar, 2023, 5:39 am

Inox Ri Phat, Vietnam’s stainless steel equipment manufacturing company, has announced the expansion of its industrial stainless steel product line and the addition of new processing services. The company has been a leading manufacturer of stainless steel products for restaurants, hotels, and other commercial businesses for years, and is now expanding to meet the growing demand for industrial stainless steel products.

Inox Ri Phat specializes in the production of high-quality stainless steel equipment, including tanks, pipes, and other products for industrial use. The company has been serving customers in Vietnam and abroad for many years, providing top-quality products at competitive prices. With the expansion of its industrial product line, Inox Ri Phat is poised to become a leading supplier of stainless steel equipment for a variety of industries, including food processing, pharmaceuticals, and more.

The new industrial product line from Inox Ri Phat includes a range of tanks, vessels, and other equipment designed for use in a variety of industrial applications. In addition to its standard product line, Inox Ri Phat also offers custom manufacturing services, allowing customers to design and build products tailored to their specific needs.

To support its expanded product line, Inox Ri Phat is also adding new processing services to its offerings. The company has invested in state-of-the-art equipment and technology, allowing it to provide a range of processing services to customers. These services include cutting, bending, welding, and other fabrication services, as well as finishing services such as polishing and surface treatment. With these new services, Inox Ri Phat can now offer a complete range of stainless steel processing solutions to customers, from initial design to final fabrication and finishing.

voda 7 maart 2023 06:43

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US Drops Circumvention Probe on Steel Pipes from Oman & UAE

Strategic Research Institute
Published on :
7 Mar, 2023, 5:41 am

The US Department of Commerce has determined that imports of certain welded carbon steel standard pipes and tubes, completed in Oman &the United Arab Emirates from hot-rolled steel produced in India, are not circumventing the antidumping duty order on pipe and tube from India. Accordingly, US Department of Commerce is making a negative finding of circumvention of the Order.

The products covered by- the Order include certain welded carbon steel standard pipes and tubes with an outside diameter of 0.375 inch or more but not over 16 inches. For a full description of the scope of the Order, see the Issues and Decision Memorandum.

voda 7 maart 2023 06:43

0

POSCO Supports Red Cross with $ 1M for Turkish Relief

Strategic Research Institute
Published on :
7 Mar, 2023, 5:43 am

South Korean steel giant POSCO decided to donate $ 1M to the Korean Red Cross for emergency relief for the victims of the earthquake in southeastern Turkey on the 6th. The earthquake in Turkey has caused many victims and the cold winter weather in the region is making it difficult to recover and POSCO will participate in efforts to speed up the recovery, says POSCO.

POSCO operates a stainless steel cold-rolled production corporation POSCO ASSAN TST, the manufacturing center POSCO-TNPC, and the POSCO International Istanbul branch in Turkey. The three facilities are located far from the epicenter of the disaster and remain unaffected. However, relatives of some local workers have been affected, granting special leave and providing relief supplies.

voda 7 maart 2023 06:44

0

Hoa Phat Reports YoY Shrinkages in Production & Sales in February

Strategic Research Institute
Published on :
7 Mar, 2023, 5:46 am

Vietnam’s leading steelmaker Hoa Phat has produced 416,000 metric ton of crude steel, equal to 60% of the same period in 2022. Its sales volume of construction steel, hot rolled coil steel and steel billet reached 475,000 metric ton, equal to nearly 70% compared to February 2022.

Hoa Phat’s consumption of steel products in both domestic and foreign markets decreased over the same period. This reflected two different states of the construction market in early 2022 and 2023. In the first quarter of 2022, the construction steel consumption reached a record high thanks to strong growth in market demand. In 2022, the market was quiet due to weak demand, leading to negative steel consumption.

voda 7 maart 2023 06:44

0

SAIL RSP Achieves Record Single Day Hot Metal Production on4 March

Strategic Research Institute
Published on :
7 Mar, 2023, 5:48 am

Steel Authority of India Limited’s Rourkela Steel Plant has registered its best-ever single day hot metal production of 16,201 metric ton on 4 March 2023, up from previous record of 16,167 metric ton on 29 March 2022.

The feat was achieved due to the integrated team effort of all the associated departments like Sinter Plant, Raw Material Handling Plant, Coke Ovens, Traffic and Raw Material, Captive Power Plant, Oxygen Plant, Production, Planning and Control Department and Research and Control Laboratory, the quality supply of raw materials and the determined efforts of the Blast Furnace collective.

voda 7 maart 2023 06:45

0

MENETA to Use Fossil-Free Steel from Swedish steelmaker SSAB

Strategic Research Institute
Published on :
7 Mar, 2023, 5:50 am

Meneta Group, a leading global supplier of high-quality brake components and composite materials to the automotive industry since 1953, is pioneering in the international automotive industry by committing to fossil-free steel from Swedish steelmaker SSAB for its global production of components and sealing materials, mainly for the automotive industry. From 2026, Meneta expects initial Scope 3 CO2 reductions of 5,500 to 6,000 metric ton, growing to approximately 60,000 metric ton in subsequent years when its global brake component and sealing and decoupling material productions fully incorporate fossil-free steel from SSAB.

Steel remains the main component of most of Meneta’s products and one of its biggest challenges from a Scope 3 emissions reduction perspective. Meneta expects a very positive market reaction to their fossil-free steel shims, backplates, clips and sealing and decoupling materials, further strengthening their market position as they meet general industry and end-user demand for sustainable products and solutions.

By Meneta piloting their fossil-free steel-based shim materials in Denmark, it lays the groundwork for expanding their use in their international subsidiary companies in the US, China, Germany, Brazil, and India.

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