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voda 9 maart 2023 06:19

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Bekaert Partners with Chapter Zero Brussels

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

Belgium headquartered steel wire transformation & coatings specialist Bekaert has announce its partnership with Chapter Zero Brussels, the Belgian chapter of the Climate Governance initiative in collaboration with the World Economic Forum. The collaboration with Chapter Zero Brussels underpins the importance of knowledge and awareness sharing in the fight against climate change, says Bekaert

At Bekaert, we believe that we all share the responsibility of addressing climate change. That's why we have established targets that align with the latest climate science and support the creation of a sustainable future over the long term. Through our sustainable solutions and practices, we are committed to making a positive impact and generating value for all stakeholders. Our partnership with Chapter Zero Brussels is an exciting opportunity for us to share our ambitions and exchange best practices with fellow members, as we believe that every company's climate journey begins in the boardroom. As VP of Sustainability, I am thrilled about the prospect of collaborating with other organizations to tackle the climate crisis says Ms. Ann-Françoise Versele

From our very first interactions with Bekaert's Board, we recognized the company's valuable experience and insights regarding their sustainability journey and climate governance. Bekaert's contributions to our network are essential in sharing lessons learned and demonstrating how they have successfully integrated sustainability into their governance structures and overall corporate strategy. We are proud to partner with Bekaert and appreciate their support in helping us achieve our mission of Bringing Climate on Board. As Chair of the Board of Chapter Zero Brussels, I look forward to working closely with Bekaert and other members to drive sustainable practices and address the pressing climate challenges facing our society, adds Ms. Natacha Lippens.

voda 9 maart 2023 06:20

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POSCO Progressing HBI Plant at Boodarie SIA in Australia

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

As part of POSCO’s strategy to achieve carbon neutrality by 2050, POSCO is actively engaged in activities to secure low-carbon steel raw materials in Australia. On the 30 January 2023, Western Australia Premier Mr Mark McGowan visited POSCO and discussed with Mr. Jeong-woo Choi, CEO of POSCO Group, about future new business cooperation, such as investment cooperation in hydrogen and core minerals.

Then, Mr. Yong-soo Kim, POSCO’s Head of Purchasing and Investment Division, visited Western Australia during 8-10 March 2023 and asked for active cooperation and support for POSCO’s HBI project in Western Australia through follow-up working-level meetings with key government officials.

POSCO has established a plan to produce HBI in Australia in 2021 and has been conducting feasibility studies. In May 2022, POSCO applied for a land lease in the Boodarie Strategic Industrial Area to the Western Australian government to promote the HBI project in Western Australia. At the end of December 2022, the site allocation was approved by the Western Australian government and as the site is secured, the full-scale project is expected to be carried out soon.

Hot Briquetted Iron is made by molding Direct Reduced Iron into a briquette shape. It is an essential raw material for producing high-quality steel during electric operations. POSCO is moving forward with the introduction of an electric furnace for a phased transition to a carbon-neutral production system, so a stable supply and demand of high-quality HBI is pivotal.

voda 9 maart 2023 06:21

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thyssenkrupp Materials Offers Emissions Reduction Certificates VCC

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

Through its subsidiary thyssenkrupp Materials Trading, thyssenkrupp Materials Services now offers emission reduction certificates. With these Voluntary Carbon Credits (VCCs) customers can offset emissions along their own production and value chains and contribute to achieving climate targets. thyssenkrupp Materials Services, the biggest mill-independent materials distributor and service provider in the Western world, is thus the first company in its sector to offer Voluntary Carbon Credits.

The certificates are selected in accordance with careful criteria that must be reviewed and developed continuously. In addition, coordination takes place with the customers regarding their wishes. When selecting projects, the question of whether they are sustainable and accompanied by additional measures plays a critical role. Examples of such projects include reforestation, expansion of drinking water supplies and direct air capture carbon and storage. This involves extracting CO2 out of the atmosphere or a vent, compressing it into rock layers and storing it in mine tunnels, for example. The portfolio also includes biochar projects. Biochar is a process in which biomass is compressed under extreme heat so that no CO2 can escape. The resulting product is used as a plant fertilizer, for example.

Emissions that are harmful to the climate may only be offset and thus retired once. It is therefore crucial that the process is transparent and recorded in accessible registers to ensure that emission values are assigned to specific VCCs. A prerequisite for offsetting is knowledge of one's own CO2 footprint. At thyssenkrupp Materials Services this is achieved with the Product Carbon Footprint Calculator introduced in 2022. This calculator measures all emissions along a product's supply chain and thus provides clarity on the status quo. The aim is for these emissions to also be offset directly via VCCs in the future.

The VCC Desk at thyssenkrupp Materials Trading handles the careful selection, procurement and transparent and orderly retirement of emission reduction certificates centrally for thyssenkrupp Materials Services and for its own customers. The resulting offset is relevant both for the company's own emissions, Company Carbon Footprint, and for emissions in connection with the customer's trading products, Product Carbon Footprint.

The Voluntary Carbon Credit Desk is part of thyssenkrupp Materials Services' sustainability strategy BEYOND, which is based on internationally recognized ESG criteria but goes beyond legal requirements and standards, hence BEYOND.

thyssenkrupp Materials Trading is an international trading and service company headquartered in Essen, Germany. The product range includes raw materials such as alloys, nonferrous metals, minerals, coke, coal and ores, various raw materials for future technologies, metallurgical products such as steel and tubes, pipe accessories, finished steel and stainless steel, as well as trading in new and used industrial equipment, machine tools, spare parts and construction elements for hydraulic steelwork and the offshore sector, and material and logistics services of all kinds. The range is rounded off by customized offers including financing and shipping.

voda 9 maart 2023 06:22

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US DOE Adds $ 6B to Grants for Decarbonizing Heavy Industry

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

The Biden-Harris Administration, through the US Department of Energy (DOE), has announced approximately $ 6Bin funding to accelerate decarbonization projects in energy-intensive industries and provide American manufacturers a competitive advantage in the emerging global clean energy economy. Funded by President Biden’s Bipartisan Infrastructure Law and Inflation Reduction Act, the Industrial Demonstrations Program will focus on the highest emitting industries where decarbonization technologies will have the greatest impact, such as iron and steel, aluminum, cement and concrete, and other energy-intensive industrial processes.

"Today's announcement marks a significant milestone in our journey towards achieving full decarbonization of heavy industries. By drastically reducing harmful pollution, we're not only protecting our environment, but also strengthening America's manufacturing sector, making it more competitive and sustainable," commented Ms. Jennifer M Granholm, US Secretary of Energy. "Thanks to President Biden's visionary investments in innovation and clean energy, American industries are now able to seize new economic opportunities while setting global standards in clean manufacturing technologies."

This funding announcement represents more than a $ 12B opportunity to dramatically reduce industrial emissions, which includes $ 430M from the Bipartisan Infrastructure Law and $ 5.46B from the Inflation Reduction Act combined with more than $ 6B in projected private sector cost share. To maximize the transformative potential of these funds, DOE will prioritize a portfolio of projects that

- Accelerate industry towards deep decarbonization;

- Spur follow-on investments for widespread adoption of the demonstrated technologies;

- Enable new markets for cleaner products; and,

- Benefit local communities.

voda 9 maart 2023 06:22

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China's Steel Exports Cross 12M Ton in Jan-Feb 2023

Strategic Research Institute
Published on :
9 Mar, 2023, 6:01 am

China’s General Administration of Customs latest data reveals that China's finished steel exports totaled 12.19M tonnes during January-February 2023, up 49% YoY, mainly due to the low base in January-February 2022 when the country exported just 8.23M ton

Following the relaxation of COVID prevention and containment measures in China last December, the domestic steel market experienced a surge in sentiment. Despite this, the recovery rate within the home steel market proved to be slower than anticipated. As a result, Chinese steel mills have shifted their focus towards exports.

Regarding steel imports, China imported 1.23M ton of finished steel products during January-February, down by 44.2% YoY

China’s General Administration of Customs latest data China began to release combined trade data for January-February in 2020 to factor out disruptions to trade caused by the Chinese New Year holiday, which either falls in January or in February each year.

voda 9 maart 2023 06:23

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British Steel to Supply Rail Sleepers to CBG in Guinea

Strategic Research Institute
Published on :
9 Mar, 2023, 6:01 am

British Steel has won its largest ever order of 244,000 ton for rail sleepers export to Guinea in West Africa. British Steel’s contract with the Guinea Bauxite Company (CBG) will see it deliver 20,000 ton of its 436 profile steel sleepers over the next year.

Sleepers will be used to upgrade the railway line at a bauxite mine in the mineral-rich country. British Steel has partnered on the project with Trackwork, which processes the rolled sleeper into its finished form, and Pandrol, which is providing the railway fastenings to secure the sleepers.

Guinea is estimated to possess more than a quarter of the world’s supply of bauxite and as it continues to increase its export capacity, it needs to upgrade existing freight lines.

Steel sleepers are stronger and more durable than wooden sleepers, which have been traditionally used in African regions. Steel sleepers are also 100% recyclable. Additionally, the transportation of steel sleepers is much more efficient than the transportation of their concrete equivalents as they are lighter and easily stacked. Trucks can carry 3 times more steel sleepers than concrete, meaning lower transportation costs.

voda 9 maart 2023 08:17

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GCC mills eye billet exports to Turkiye
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Integrated mills in the Gulf Cooperation Council are receiving many billet enquiries, mainly from Turkiye, and are mulling increasing billet supply and reducing rebar production during the upcoming Ramadan, Kallanish observes.

Jindal Shadeed in Oman, Emirates Steel in United Arab Emirates, Qatar Steel in Qatar and Hadeed in Saudi Arabia have received multiple billet enquiries from Turkey and are preparing to issue quotes. However, mills in the bloc are having difficulty assessing the Turkish market since rebar and billet quotes there have softened this week, while there have been no steps taken to remove Turkey’s import duty on rebar and billet.

The Omani mill is heard targeting $625-635/tonne fob, equating to $675-680/t cfr Turkiye, while Iranian-origin billet is available at $625-635/t cfr depending on tonnage, both for April shipment.

Sellers are throwing out 150mm 3sp billet offers at $640-650/t cfr Turkiye for April shipment to test the Turkish market, but even this price is not inducing interest.

"After natural gas and electricity prices declined in Turkiye, costs decreased and Turkish mills are not ready to pay more than $630/t cfr, if the producer's country has no free trade agreement with Turkey," comments a senior mill official familiar with the Turkish market.

“The mills based in the earthquake area in Turkiye were granted a privilege, extending the inward processing regime from four months to the end of 2023. That means when they import billet they can export re-rolled rebar until the end of the year and mills won’t be under time pressure,” comments a sector analyst. “Mills in the rest of the country applied for the same regulation but, so far, no positive response was received from the Turkish government. Moreover, removing the import duty on billet and rebar has been rejected by the Turkish government.”

“I think a workable billet price for the Turkish market is $625-630/t cfr. If Russian billet would soften to $580-590/t fob from today’s $620/t fob, then billet buying activity will boost in Turkey,” opines a trader.

“Mills in the GCC should see the picture more realistically. Turkish plans for 4 million tonnes of rebar purchasing in 3-4 months, announced in mid-February, are not realistic, and gave a false message to the market and increased scrap and semis prices. I expect to see a price correction,” he adds.

Last week, the UAE and Turkey signed a free trade agreement, although it is unclear to what extent this will impact ferrous trade.

Burak Odabasi Turkey

voda 10 maart 2023 07:50

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ArcelorMittal CEO says decarbonization would raise steel prices as much as 20%

Mar. 09, 2023 4:53 PM ET ArcelorMittal S.A. (MT)By: Carl Surran, SA News Editor3 Comments
ArcelorMittal Merger Creates Major Steel Company
Mark Renders/Getty Images News

Stripping out carbon from steel production would drive up prices by 10%-20%, potentially invalidating green producers' business model, ArcelorMittal (NYSE:MT) CEO Aditya Mittal said Thursday.

"The cost to decarbonize steel is not so prohibitive, so the system could take it," the CEO said at a World Trade Organization event, according to Reuters, but 10%-20% for the steel industry is a lot because we have low margins... If someone comes in and undercuts, and then steel companies which are producing decarbonized steel will not have a viable business mode."

Separately, ArcelorMittal (MT) said it has completed the acquisition of Companhia Siderúrgica do Pecém in Brazil for an enterprise value of ~$2.2B.

ArcelorMittal (MT) has said the deal will expand its position in the high-growth Brazilian steel industry and add 3M metric tons of high-quality and cost-competitive slab capacity.

Now Read: ArcelorMittal eyes April restart of idled French blast furnace

seekingalpha.com/news/3946224-arcelor...

voda 14 maart 2023 06:19

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ArcelorMittal Becomes Official Partner of Paris 2024 Olympic & Paralympic Games

ArcelorMittal, a leading player in the steel industry, has recently announced its partnership with the Paris 2024 Olympic and Paralympic Games as an Official Partner. Utilizing its expertise and innovative capabilities, ArcelorMittal will be responsible for producing several significant icons of the Paris 2024 Games, including the Olympic and Paralympic torches and cauldrons, as well as the iconic steel rings and agitos that will be prominently displayed throughout the host city. In keeping with its commitment to sustainability, ArcelorMittal will manufacture these symbols using low CO2 footprint steel, further showcasing their dedication to environmentally conscious practices.

ArcelorMittal will manufacture the Olympic torches which will bring the sacred fire from Olympia to Paris after going through France for 2 months, and the Paralympic torches which will be used for the relay from Stoke Mandeville to Paris. ArcelorMittal will also manufacture the Olympic and Paralympic cauldrons which will be lit during the opening ceremonies and will shine throughout the Paris 2024 Games, along with the large rings and agitos which will be installed in the host city, in locations to be disclosed in 2024.

The steel torches and cauldrons produced by ArcelorMittal, the design of which will be revealed later this year, will have a low CO2 footprint, for instance through the use of recycled steel or low carbon energy, thus contributing to the Paris 2024 Olympic and Paralympic Games environmental ambition. ArcelorMittal will draw on its expertise in the decarbonisation of steelmaking, using its strong track record in R&D, its technological edge, and the skills of its teams.

voda 14 maart 2023 06:19

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Mr. Mukherjee Assumes Additional Charge of CMD NMDC

Mr. Amitava Mukherjee, Director Finance, has taken additional charge as Chairman Cum Managing Director at NMDC Limited, India’s largest producer of iron ore under the Ministry of Steel on 1 March 2023, after former CMD Mr. Sumit Deb was relieved from the services on attaining the age of superannuation on 28 February

Mr. Mukherjee belongs to the 1995 Batch of Indian Railway Accounts Service. He is also Cost Accountant and holds Master’s Degree in Commerce from Guru Ghasidas Vishwavidyalaya, Bilaspur.

He has spearheaded implementation of ERP (S4/HANA), and has been driving other digitalization initiatives like Mine Transportation & Surveillance System, Fleet Management System. Under his stewardship the demerger of NMDC Steel Ltd from NMDC Ltd. was completed in a time bound manner and shares of NSL were listed in stock exchange on 20.02.2023. Project Management, digital initiatives, and policy formulation are his forte. He has led the Australia operations of NMDC to pre-production stage (Gold) and also finalized a strategic tie up with a large international mining giant Hancock Prospecting expeditiously, monetizing Iron Ore mining tenement.

Prior to joining NMDC, he was General Manager Finance in Rail Vikas Nigam Limited. During his service in IRAS from 1996-2016, he held key position in the Eastern Railways. Before joining IRAS, he worked in Indian Oil Corporation Limited from 1994-1997.

voda 14 maart 2023 06:19

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SWOCTEM Makes Offer to Increase Stake in Klöckner & Co

The Management Board of German headquartered leading global steel processor & distributor Klöckner & Co has noted the announcement by SWOCTEM of its intention to make a voluntary public takeover offer for the whole issued share capital of Klöckner & Co SE at a price of € 9.75 in cash per share. The Management Board and the Supervisory Board are evaluating the situation and will inform the shareholders in their reasoned statement about the assessment of the offer and its conditions in a timely manner after submission of the offer document. Shareholders of Klöckner & Co should in view of the company wait for the publication of this statement and should not take any actions regarding the takeover offer of SWOCTEM in the meantime.

As part of the announcement of the voluntary public takeover offer, SWOCTEM has informed that it will increase its existing shareholding in Klöckner & Co to over 30%. Thereby, SWOCTEM wants to obtain more flexibility for future share purchases. However, SWOCTEM GmbH declares that it does not intend to acquire a majority stake in Klöckner & Co. The Company shall remain listed on the stock exchange.

In case of a successful offer, a shareholding of SWOCTEM of more than 30% will provide the company, from the Management Board's point of view, with additional flexibility, e.g., to execute share buybacks.

SWOCTEM GmbH, whose owner is Prof. Dr. E.h. Friedhelm Loh, is by far the largest shareholder of Klöckner & Co. Klöckner & Co Management Board of the company welcomes the fact that Mr. Prof. Dr. E.h. Friedhelm Loh, as long-term oriented investor and a long-standing member of the Supervisory Board, supports the Management Board of Klöckner & Co in the successful implementation of its strategy Klöckner & Co 2025: Leveraging Strengths and that he underlines his interest in the long-term successful development of the company with the announcement.

Klöckner & Co is one of the largest producer-independent distributors of steel and metal products and one of the leading steel service companies worldwide. Based on its distribution and service network of around 150 sites in 13 countries, Klöckner & Co supplies more than 90,000 customers. Currently, the Group has around 7,300 employees. Klöckner & Co had sales of some € 9.4 billion in fiscal year 2022. With the expansion of its portfolio of CO2 reduced materials, services and logistics options under the new Nexigen® umbrella brand, the company is underscoring its role as a pioneer of a sustainable steel industry.

The shares of Klöckner & Co are admitted to trading on the regulated market segment (Regulierter Markt) of the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse) with further post-admission obligations (Prime Standard). Klöckner & Co shares are listed in the SDAX® index of Deutsche Börse.

voda 14 maart 2023 06:20

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RINL Seeks Steel Minstry Help to Manage Iron Ore Shortage

Rashtriya Ispat Nigam Ltd is facing a shortage of iron ore and coking coal, which has impacted its production ramp up plans, and RINL CMD Mr. Atul Bhatt in his l 22 February letter to Steel Ministry has saught Steel Secretary Mr. Narendranath Sinha’s intervention, says Business Line

Mr. Bhatt in his letter has mentioned that there is a minimum daily requirement of 4 rakes of iron ore fines, 2 rakes of slimes and 2 rakes of iron ore lumps for meeting the consumption and also to build up the stock levels, which are at critical levels of 5 days. Despite the matter “being pursued with NMDC and Railways for augmenting the despatches of iron ore as per the said requirement”, improvement is not happening, the letter said.

Incidentally, the Steel Ministry, in a recent internal note, has expressed concerns over the financial health of the steel-maker and has pointed out to the possibility of it going in for insolvency in the immediate short run.

voda 14 maart 2023 06:20

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thyssenkrupp Steel Selects MIDREX Flex™ for Duisberg Plant

Midrex Technologies and Paul Wurth will partner to engineer, supply, and construct a 2.5 million metric ton per year MIDREX Flex™ direct reduction plant for thyssenkrupp Steel Europe AG at its Duisburg in Germany. The plant will initially operate on reformed natural gas, which contains 50% or more hydrogen at the inlet to the furnace, until sufficient H2 is available, at which time it will be transitioned to up to 100% H2 operation. Furthermore, the direct reduction plant will be combined with advanced SMS group melting technology to significantly increase operating efficiency and reduce CO2 emissions by more than 3.5 million metric ton per year. Plant start-up is planned for end of 2026.

MIDREX Flex technology provides the flexibility to operate on different ratios of natural gas and hydrogen, up to 100% H2. It will allow thyssenkrupp to use natural gas, which already provides significant CO2 savings over the conventional coke oven-blast furnace ironmaking route, until H2 is available in sufficient quantities, which is expected in 2027.

The hydrogen-based DRI plant is a major step in thyssenkrupp’s conversion of its integrated steelworks to a climate-neutral production site.

Midrex and Paul Wurth are also collaborating on the world’s first greenfield steel mill based on totally green technology for H2 Green Steel in Boden, Sweden. MIDREX H2™ technology will be used to produce 2.1 million metric ton per year of HDRI and hot briquetted iron. The MIDREX Plant is expected to begin production in 2025 and ramp up during 2026.

voda 14 maart 2023 06:20

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Unigel & thyssenkrupp nucera to Increase Bahia Hydrogen Capacity

thyssenkrupp nucera and Unigel have signed a Memorandum of Understanding to increase the capacity of the green hydrogen plant that Unigel is developing in Bahia in Brazil, from 60MW to 240MW of water electrolysis. This is a key step for both companies continue their good collaboration to accelerate the green transformation through the development of the green hydrogen economy worldwide.

Unigel's facility will be the first industrial-scale green hydrogen plant in Brazil. It is planned to be delivered at the end of 2023. In the first phase, the plant will have a total water electrolysis capacity of 60MW with thyssenkrupp nucera standard electrolyzers and an initial production capacity of 10,000 metric ton per year of green hydrogen and 60,000 metric ton per year of green ammonia. Unigel is one of the largest chemical companies in Latin America and the largest producer of nitrogen fertilizers in Brazil. The new plant will be an important stimulus for the development of the entire region.

voda 14 maart 2023 06:20

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Tata Steel UK to Improve Energy Efficiencct at Corby Tube Mill

Tata Steel UK's tube mills in Corby are set to receive a significant boost in their efforts towards sustainability, with a £ 5 million investment in electric induction furnaces. This investment is expected to significantly reduce emissions, with at least 2000 metric ton of CO2 being eliminated annually. Speaking on the initiative, Works Manager of Tata Steel UK Corby, Mr. Gary Blackman, emphasized the importance of this move, stating that it is the first step towards the site's aim of becoming CO2 neutral, in line with Tata Steel's global goal of achieving net zero by 2045. The investment is also part of Tata Steel UK's broader commitment to sustainability, which covers a range of areas, including biodiversity, material efficiency, and the development of sustainable products.

Inductotherm Heating and Welding will carry out the work in a two week period at the end of October 2023. The new induction furnaces will replace the original ones that first came into operation in 1980, since which the mill has produced around 2.5 million metric ton of tubes in its lifetime: enough to stretch around the world five times.

The Stretch Reduction Mill 2 takes 169mm diameter steel tubes and heats them to around 1100 degree Celsius before they are stretched into hollow sections as small as 40mm diameter with wall thicknesses as thin as 3.2mm.

The tube mills in Corby, owned by Tata Steel UK, are a prominent part of the company's manufacturing facilities. These mills play a vital role in producing high-quality steel tubes that are utilized in a diverse range of industries, including construction, automotive, and engineering. The line produces branded product Celsius® in rectangular, square and round sections that is used extensively in mechanical applications such as tow bars, tower cranes and even ski lifts. Celsius® is Tata Steel UK’s range of fully normalized hot finished hollow sections to EN 10210 and is the ultimate hot finished structural hollow section. Celsius® is available in a range of grades, including the popular S355NH and weight-saving high strength S460NH as well as in weathering grade steel for the ultimate durability in long-life, low-maintenance structures. The size range available for Celsius® is one of the broadest on the market.

voda 14 maart 2023 06:21

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Tenaris & Ecopetrol Renew Supply Agreement in Colombia

Leading seamless pipe supplier Tenaris has renewed its contract with Ecopetrol until February 2025, reinforcing the relationship between both companies. The renewed agreement covers the supply of pipes under the Rig Direct® service model, which supports customers throughout their drilling projects. It begins with well planning, where our technical experts optimize product selection to maximize performance while streamlining costs. Through supply chain integration, Tenaris manufactures and delivers pipes RunReady™, ready to be installed in the well. The service contributes to a streamlined, sustainable operation.

Tenaris will supply both casing and tubing with premium technologies such as TenarisHydril Blue® and Wedge 513®, Wedge 523®, Wedge 521® connections and TXP® Buttress connections to serve Ecopetrol’s operations in diverse environments, from complex deep wells to mature fields.

voda 14 maart 2023 06:21

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Surya Roshni to Supply API 3LPE Coated Steel Pipes to HPCL for CGD

India’s leading steel pipes & tube maker Surya Roshni has secured an order amounting to ? 96.39 crore from Hindustan Petroleum Corporation for City Gas Distribution projects in three geographical areas in the state of Rajasthan, Bihar, Jharkhand and West Bengal.

The contract, which is for the supply of 4” & 16” API 3LPE Coated Steel pipes, has to executed within a period of 8.5 months.

Surya Roshni is the largest GI steel pipe manufacturer and the second largest in lighting products and manufacturing conglomerate with business interest spanning steel pipes, cold rolled sheets and 3LPE coated API pipes, LED and conventional lighting products, fans, electric appliances, PVC pipes etc.

voda 14 maart 2023 06:21

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Algoma Steel Appoints EllisDon as Construction Manager for EAF Project

Leading Canadian producer of hot and cold rolled steel sheet and plate products Algoma Steel has appointed EllisDon as Construction Manager for completion of its transformative Electric Arc Furnace project. EllisDon brings over 70 years of industrial and civil construction management expertise and experience to the project bolstering Algoma’s internal project team as Algoma’s EAF facility continues to progress.

Based in Sault Ste. Marie, Ontario, Canada, Algoma is a fully integrated producer of hot and cold rolled steel products including sheet and plate. Algoma is on a transformation journey, modernizing its plate mill and adopting electric arc technology that builds on the strong principles of recycling and environmental stewardship to significantly lower carbon emissions.

Algoma Steel chose Danieli as sole technology supplier for its full transition from integrated to electrical steelmaking in December 2021 with two 250 ton electric arc furnaces at its core, powered by two Q-One digital power systems with a rated capacity in excess of 190 MVA each. The selected Digimelter melting technology powered by Q One digital power system will lead to a reduction of approximately 70% of carbon emissions, positioning Algoma as a leading provider of green steel in North America.

Algoma’s Electric Arc Furnace project continues to advance on time and on budget, and as now enters the more complex phases of construction with expected EAF start up in mid 2024. Once the project is completed, we expect Algoma will be one of the lowest-cost green-steel production facilities in North America, expanding annual steelmaking capacity from 2.8 million ton to 3.7 million ton with a significant reduction (estimated at approximately 70%) in carbon emissions.

EllisDon is an employee-owned, C$ 5 billion a year global construction services company. With over 3,000 salaried and hourly employees across fifteen national and international offices, EllisDon has become a leader in every sector and nearly every facet of the construction industry.

voda 14 maart 2023 06:22

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Canada Initiates AD Duty Expiry Review for Steel Piling Pipe from China

The Canadian International Trade Tribunal has initiated an expiry review of its order made on 4 July 2018 to determine if the expiry of the order is likely to lead to continued or resumed dumping or subsidizing of steel piling pipe from China and is likely to result in injury to the domestic industry.

No later than 10 August 2023, the Canada Border Services Agency will determine if there is a likelihood of resumed or continued dumping or subsidizing. In the event of a positive determination, the Tribunal will determine, no later than 17 January 2024, whether the continued or resumed dumping or subsidizing is likely to result in injury to the domestic industry.

voda 14 maart 2023 06:22

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Pelco Structural Former President Mr. Albert Pleads Guilty to Tax Evasion

US Attorney's Office, Northern District of Oklahoma, has announced that Oklahoma man has pleaded guilty to evading over $ 1 million in income taxes. Mr. Phillip Barry Albert of Tulsa was President of Pelco Structural and directed it’s outside payroll service company to pay him over $ 2.6 million. Mr. Albert instructed that the payments be classified as reimbursements rather than income, so that federal income taxes would not be withheld, and the payments would not be reported on his Forms W-2 as wages.

Mr. Albert filed individual income tax returns for 2014 through 2019 that did not report the payments, totaling $ 2.6 million, thus causing a tax loss to the IRS of $ 1,0 million.

Mr. Albert faces a maximum penalty of 5 years in prison. He also faces a period of supervised release, restitution, and monetary penalties. A federal district court judge will determine the sentence after considering the US Sentencing Guidelines and other statutory factors.

IRS-Criminal Investigation and the FBI are investigating the case.

Pelco Structural had accused former president Mr. Phil Albert of embezzling $ 7.4 million from the steel pole manufacturing company between 2010 in November 2019.

Claremore, Oklahoma based Pelco Structural designs, manufactures, and markets steel poles. The Company offers steel tapered and multi-section transmission, steel distribution, lighting, traffic, and communication poles. Pelco Structural serves clients in North America.

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