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voda 14 maart 2023 06:22

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US Steeel Named One of World’s Most Ethical Companies® for 2023

United States Steel has been recognized by Ethisphere, a global leader in defining and advancing the standards of ethical business practices, as one of the 2023 World’s Most Ethical Companies. This is the second consecutive year that US Steel has been recognized and is the only integrated steel producer to be chosen. It is one of only two honorees in the Metals, Minerals & Mining industry.

Grounded in Ethisphere’s proprietary Ethics Quotient®, the World’s Most Ethical Companies assessment process includes more than 200 questions on culture, environmental and social practices, ethics and compliance activities, governance, diversity, and initiatives that support a strong value chain. The process serves as an operating framework to capture and codify the leading practices of organizations across industries and around the globe.

voda 14 maart 2023 06:23

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Mr. Paolo Rocca Opens Ceibo Building of Austral University in Buenos Aires

Mr. Paolo Rocca, President of the Techint Group, has inaugurated the new Ceibo building of the Austral University in Buenos Aires in Argentina, where starting this year engineering classes will be taught, says Infobae. The construction of the first stage of the building contemplates a total space of 1000 square meters and has three new laboratories for physics, chemistry and a BioLab, which is used by students of hard sciences, as well as for the development of various investigations. . One of the first uses will be dedicated to the processing of samples for genomic analysis of the MicrobiAr clinical study, which is carried out from the Austral University together with renowned institutions. The building facilities also have classrooms, coworking spaces and offices for teachers.

Mr. Rocca spoke to the students and commended their dedication and willpower towards studying engineering, recognizing that it is a crucial career path for the development and growth of their country. He emphasized the importance of attracting and retaining talent in the industry, stating that this can be achieved through three pillars: offering attractive projects for talent development, creating a work environment that values diversity and commitment, and maintaining a permanent commitment to sustainability.

Moreover, Mr. Rocca highlighted that education is a fundamental aspect of the Techint Group's social programs, recognizing that education is crucial for promoting social mobility and unlocking the potential of each individual.

Finally, Mr. Rocca shared his vision for Argentina, stating that the country has significant growth opportunities, not only in traditional sectors such as agriculture, but also in the energy value chain, including oil and gas, and renewable and transition energies. By embracing these opportunities, he believes that Argentina can achieve its full potential and contribute to the development of the region.

Mr. Paolo Rocca is the President of the Techint Group, a multinational conglomerate with operations in the steel, engineering, and energy sectors. He was born in Milan in Italy in 1952 and received his degree in Industrial Engineering from the Polytechnic University of Milan. Mr. Rocca joined the Techint Group in 1985 and worked in several different roles before becoming CEO in 1990 and President in 2003. Under his leadership, the company has expanded its operations globally and is now one of the largest steel producers in Latin America. Mr. Rocca is also involved in several industry associations and serves on the board of directors of several companies, including Ternium, Techint Engineering and Construction, and the Argentine-Italian Chamber of Commerce. In addition, he is a member of the Executive Committee of the World Steel Association and the International Iron and Steel Institute.

Mr. Rocca is known for his commitment to sustainability and social responsibility, and he has led the Techint Group in implementing several initiatives to reduce its environmental impact and promote social development in the communities where it operates.

voda 14 maart 2023 06:23

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US Steel Production Capacity Utilization Slips in Week 9

According to the American Iron & Steel Institute's report, in the week ending on March 11th, 2023, the US produced 1.677 million net tons of raw steel, with a capability utilization rate of 75.0%. This represents a 1.9% decrease in production compared to the same period in the previous year, when production was 1.710 million net tons and the capability utilization rate was 78.7%. However, there was a slight increase in production from the previous week ending on March 4th, 2023, when production was 1.664 million net tons and the capability utilization rate was 74.4%. The current week's production is up 0.8% from the previous week. Southern: 704,000 net ton
Great Lakes: 547,000 net ton
Midwest: 210,000 net ton
North East: 148,000 net ton
Western: 68,000 net ton

According to the American Iron & Steel Institute's report, the adjusted year-to-date production through March 11th, 2023, was 16.513 million net tons, with a capability utilization rate of 73.9%. This represents a 5.1% decrease in production compared to the same period last year, when the production was 17.394 million net tons, and the capability utilization rate was 79.7%.

It's worth noting that the raw steel production and capability utilization rate are important indicators of the health of the US steel industry, and fluctuations in these numbers can be influenced by a variety of factors, such as changes in demand, imports, and raw material prices.

voda 14 maart 2023 06:23

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BSRM Chairman Mr. Alihussain Akberali Honoured

The Federation of Bangladesh Chambers of Commerce & Industry has honoured 10 individuals and companies with the inaugural Business Excellence Awards in recognition of their contribution to the business and the economy. Mr. Alihussain Akberali, Chairman of Bangladesh Steel Re-Rolling Mills Group, has been honoured for shaping Bangladesh's steel industry and

Mr Alihussain Akberali is the Chairman ofr BSRM Steels, Chairman of Bangladesh Steel Re-Rolling Mills, Chairman & Managing Director of H Akberali & Co revolutionising the entire steel market.

The Bangladesh Steel Re-Rolling Mills, commonly known as BSRM, is a Bangladeshi steel manufacturing company based in Chittagong. It is the largest rebar manufacturer in Bangladesh. BSRM saga began with the first steel re-rolling mills to emerge in the then East Bengal in 1952. They have multiple manufacturing facilities and their annual production capacity is reportedly over 2 million metric tons.

voda 14 maart 2023 06:24

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Shipbreaking Business Firmly Poised

According to GMS, the world's leading buyer of old ships for recycling, the recycling markets are currently poised for another strong week, with the Bangladeshi market in particular showing a stunning resurgence and leading the price rankings board. Prices close to or over $ 600 per LDT (light displacement ton) are now being regularly presented on various vessels, prompting more Ship Owners to sell their aging tonnage, especially as freight rates in the dry bulk and container sectors are failing to improve sufficiently.

While Cape rates have rebounded, it remains unclear whether larger LDT dry units will hit recycling markets anytime soon. Overall, container and dry bulk chartering levels are still down from previous years. Tankers are not expected to come for recycling anytime soon, as wet tonnage continues to earn impressively high numbers.

On the local markets front, the Bangladeshi market has seen resurgence in recent weeks, with some excellent numbers reported for various LNGs, Capes, and Containers. India is still competitive on the raft of green HKC vessels that continue to be made available, and sentiments are firming again in Alang due to the repeal in import duty on floating assets for recycling. Pakistan, on the other hand, is struggling with LCs and competitive pricing, with little activity taking place in Gadani at present.

Finally, the Turkish market has reported a softening of import steel rates due to the plummeting value of the Lira against the US Dollar.
GMS demo rankings – India/Pakistan/Bangladesh – Week 10 up $ 15 WoW
Dry Bulk – $ 540-580 per LDT
Tankers – $ 550-600 per LDT
Containers - $ 60620 per LDT

voda 14 maart 2023 06:24

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Flack Global Metals Acquires Fabral Metal & Wall Roof Systems

Flack Global Metals closed their acquisition of Fabral Metal and Wall Roof Systems from OmniMax International on 28 February 2023. Terms of the transaction were not disclosed. Fabral is the premier supplier of metal building envelope solutions for multiple end markets including residential, commercial and post frame & agricultural.

The Fabral acquisition is the first venture of Flack Global Metals’s new direct equity investment platform which will invest directly in either full or partial ownership of OEMs where flat rolled products are the principal input to their manufacturing operations. v will invest additional capital in equipment, technology and people to enhance Fabral's capabilities, including implementing the supply chain and risk management practices that have led to Flack Global Metals's growth to the 32nd largest steel distributor in the US in just over a decade.*

Flack Global Metals is a hybrid organization combining an innovative domestic flat rolled metals distributor and supply chain manager with a financial services firm that focuses on delivering supply and pricing certainty within the metals space.

In 2010, Flack Global Metals was founded with the mission to reinvent how metal is bought and sold. Twelve years later, the company has evolved into a hybrid organization combining an innovative domestic flat-rolled metals distributor and supply chain manager with a financial services firm supported by the most sophisticated ferrous trading desk in the industry known as Flack Metal Bank. Together, Flack Global Metals and Flack Metal Bank deliver certainty and provide optionality to control commodity price risk in the volatile steel industry.

voda 14 maart 2023 06:25

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Slab demand remains strong, prices steady
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Merchant slab market activity remained relatively steady in the past week, with the main growth observed in the western hemisphere. It went in line with increases Brazilian producers have been implementing in the pig iron market, as well as ongoing US flat steel price growth and higher March-trading US scrap settlements, Kallanish notes.

With the end of the Carnival season came the series of sales, which filled Brazilian suppliers' order books up to June, at steadily rising prices. Having sold at $810-820/tonne fob to Mexico and the US around fortnight ago, and raised prices further, one producer achieved just under $850/t fob in a new sale of a large lot to the US. This depleted its availability further and prompted regional buyers to start looking eastwards for more slab.

Indeed, Chinese slab volumes are replacing Russian volumes lost to sanctions in the US and Europe. Chinese hot rolled coil is generally being offered at only $30-40/t above slab, which is now indicated at $640-650/t fob, while concessions can be negotiated for both products, sources say. These prices are offered everywhere – including the US, where Russian companies' mills are unable to bring their in-house produced material and are forced to buy in the merchant market. At $650/t fob and freight at $100/t, they still remain at an advantage over mills buying from Brazil, traders note.

Meanwhile, Asian suppliers are offering to Europe and Turkey, with some Asian mills replacing Russian supply and selling on a regular basis. Prices in Europe are circling $750/t cfr equivalent, and there is no shortage of material, while Turkey is getting offers at $710-730/t cfr. The only downside of Asian supply right now is lead times, but only when compared to relatively prompt Russian availability. The latter, however, is not much prompter for non-sanctioned material, and only a little for the sanctioned slab.

The price difference on an fob basis is around $60/t, in other words $600/t fob versus $640-670/t depending on destination. However, considering the sanctioned Russian slab is exported through the Baltic, and the mill is relatively close to the port, the ex-works cost is probably in equilibrium, sources note. Russian slab availability is quite restricted amid high internal requirements fuelled by strong domestic demand for finished products, and export demand for slab in Asia, Turkey and Europe.

Katya Ourakova UK

voda 15 maart 2023 08:45

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EUROFER Calls for Deeper Electricity Market Design Reforms

The European Commission has proposed electricity market reforms to speed up the transition to renewables, phase out gas, and make consumer bills less dependent on volatile fossil fuel prices. The proposed changes aim to better protect consumers from price spikes and market manipulation and promote clean and competitive industries. The proposed reform includes revisions to key EU legislation, including the Electricity Regulation, Electricity Directive, and REMIT Regulation. The changes incentivize longer term contracts with non-fossil power production and introduce clean, flexible solutions like demand response and storage to compete with gas. This will decrease the impact of fossil fuels on consumer electricity bills and ensure lower renewable energy costs are reflected. Additionally, the proposed reform enhances market transparency and integrity, promoting open and fair competition in the European wholesale energy markets. The proposed reform will now have to be discussed and agreed by the European Parliament and the Council before entering into force.

The European Steel Association, EUROFER, has expressed concern that it is still unclear how industrial energy consumers will access the significant amounts of renewable and low-carbon electricity necessary for their decarbonization efforts in the years ahead, following the European Commission's recent proposal on the Electricity Market Design.

Mr. Axel Eggert, the Director General of the European Steel Association, EUROFER, highlighted the significant price shock being experienced by the European electricity market, precisely when steelmakers are ramping up their decarbonization efforts through direct and indirect electrification. He emphasized that the ongoing review of the EMD presents the final opportunity to increase power capacity volumes urgently while maintaining affordability and sustainability objectives. However, the current proposal falls short of industry and society's expectations. EUROFER is committed to collaborating with co-legislators to deliver a deeper and more comprehensive approach to address this issue.

According to Mr. Eggert, the events of the last few months have demonstrated that long-term markets are interlinked with short-term market pricing signals and are not adequately equipped to offer a structural solution for energy-intensive industries. Thus, the EMD reform must thoroughly evaluate all options concerning the wholesale market's functionality to enhance the energy system's overall cost-effectiveness. "We must take a comprehensive approach to address this issue," he concluded.

EUROFER reports that the European steel sector currently consumes approximately 75TWh of electricity annually. However, as the industry shifts towards breakthrough low-carbon technologies, this electricity consumption is expected to rise significantly to 160TWh by 2030 and 400TWh by 2050. This emphasizes the urgent need for the Electricity Market Design reform to address the issue comprehensively to ensure the transition to low-carbon technologies is both achievable and affordable.

voda 15 maart 2023 08:45

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OECD Steel Committee Concerned over World Steel Trade Disruptions

During its 93rd session on March 13-14, 2023, the OECD Steel Committee expressed concern over Russia's aggression against Ukraine and its impact on global steel markets. The Committee noted that the conflict has contributed to stagnation in world steel trade, raw material market disruptions, and increased market uncertainty. The delegates affirmed the Committee's readiness to support Ukraine, a long standing member of the Committee, in the reconstruction and decarbonization of its steel industry.

According to OECD Steel Committee Vice-Chair Ms. Sheryl Groeneweg and Mr. Lieven Top, the consequences of the war in Ukraine are having an impact on the international steel supply chain, leading to more export restrictions on steelmaking raw materials like scrap. These developments are making the already challenging steel market conditions worse, as steel producers face increased cost pressures and excess steelmaking capacity.

In response to the challenges facing the global steel market, the OECD Steel Committee has launched a Global Steel Supply Chain Observatory. The Observatory is designed to help members and industries monitor raw material markets and related policy measures in real-time. It will provide a platform for finding solutions to the challenges facing the steel industry and help reduce risks and vulnerabilities. Ms. Groeneweg and Mr. Top highlighted the importance of such initiatives in the current context of global steel trade disruptions and market uncertainties.

The Committee also discussed its role and ambitious work program on steel Decarbonisation, recognizing the urgent need for the industry to reduce its carbon footprint. They emphasized how the Committee's mandate of ensuring a level playing field and open markets can support this fundamental industry transformation through different instruments and at various speeds worldwide. This includes facilitating the exchange of best practices, supporting research and development, and promoting international cooperation to address the significant challenges that the industry faces in achieving a low-carbon future.

Participants at the meeting expressed concerns about the further increase in global steel excess capacity. They noted that global crude steelmaking capacity rose to 2,463 million metric ton in 2022, with significant capacity expansions particularly in Southeast Asia and the Middle East contributing to the growing gap between global crude steelmaking capacity and production. In 2022, this gap reached 632 million metric ton, up from 517 million metric ton in 2021. The participants stressed that the modest longer-term outlook for steel demand growth risks exacerbating these challenges.

voda 15 maart 2023 08:45

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Jindal Shadeed Plans 5MPTA Green Steel Project in Oman

Jindal Shadeed Group, under the leadership of CEO Mr. Harssha Shetty, has announced plans to begin construction on a 5 million metric ton green hydrogen-ready steel complex in the Special Economic Zone in Duqm, Oman in 2023. Once completed, it will be the largest green hydrogen-ready steel plant in the world and the first of its kind in the GCC region. The facility will produce premium quality auto-grade flat products catering to the auto, wind turbine, and domestic appliances industries across Europe, Japan, and other countries.

The proposed $3 billion green steel complex in the Special Economic Zone in Duqm, will feature two production lines, each capable of producing 2.5 million metric ton. The production process will include Direct Reduced Iron, Electric Arc Furnace, Hot Strip Mill, and downstream facilities, Mr. Shetty, confirmed the details of the project to Zawya Projects.

According to Mr. Shetty, Jindal Shadeed Group's plans to establish the world's largest green hydrogen-ready steel plant in Oman are aligned with the country's 2040 vision of Decarbonisation. He stated that Oman's natural resources, including its strategic location close to the Sea of Oman and the Indian Ocean, provide a global advantage for green steel production. With a dedicated 600m jetty and ground transport through the Muscat-Dubai highway, Jindal Shadeed Iron & Steel will have unimpeded access to raw materials and the ability to ship steel products globally. Mr. Shetty also emphasized the company's commitment to Oman and its vision for growth in the coming decades, having been based in the country for over 12 years.

Mr. Shetty also emphasized that Oman's favorable solar and wind resources make it a world leader in commercially competitive Green Hydrogen production. Oman has one of the best solar profiles globally, ranking fifth, with one of the highest photovoltaic power potentials. Oman also has remarkable wind potential with wind speed of 5.45m per second and wind energy density of 248W per square meters, which is comparable to rich wind resources in Europe, such as in the Netherlands where wind speed is 5.76m per second and wind energy density is 255W per square meters.

voda 15 maart 2023 08:46

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HBIS Serbia to Restart Smederevo BF No 1

HBIS Group Serbia Iron & Steel, a Serbian steelmaker owned by Chinese company Hebei Iron & Steel Group, is set to restart its blast furnace No. 1 at the Smederevo plant by the end of this week, as reported by Steel Orbis. The furnace has an annual capacity of 900,000 metric tons but was temporarily shut down in July 2022 due to weak steel demand, lower prices, and high costs.

Following the recovery of benchmark HR steel prices to €800 per metric ton from their earlier dip to around €600, several European steel producers have restarted their idled blast furnaces. These producers had earlier shut down their furnaces and reduced production due to lower demand and higher energy costs. Five blast furnaces have already been restarted, with two more planned to resume production soon.

The restarted blast furnaces include:
1. BF 3 at ArcelorMittal Dabrowa Gornicza in Poland
2. BF A at ArcelorMittal Gijon in Spain
3. BF 2 at Dunaferr in Hungary
4. BF at SSAB Raahe in Finland
5. BFs at US Steel Kosice in Slovakia
In addition, Liberty Galati's blast furnace in Romania is to restart in March, while ArcelorMittal Fos-sur-Mer's furnace in France is planned to resume production in April.

However, following BFs remain idled
1. ArcelorMittal Sestao in Spain
2. Liberty Ostrava in Czech Republic
3. Salzgitter in Spain

voda 15 maart 2023 08:47

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GFG Alliance to Move to Court to Stop Aartee Bright Bar Bankruptcy

According to a report by City AM, Sanjeev Gupta, the chairman of GFG Alliance, has announced a plan to prevent UK steel producer Midlands Aartee Bright Bar from being forced into bankruptcy. The company was acquired by Liberty Steel in February 2023. GFG Alliance plans to ask a court to block New York investment fund FGI from pushing Aartee Bright Bar into insolvency. The company will also pledge financial support to aid the recovery of Aartee Bright Bar. However, GFG Alliance has not disclosed the amount of money it is willing to provide.

Mr. Jeffrey Kabel, Chief Transformation Officer of GFG Alliance, has stated that the company's plan for Aartee Bright Bar would safeguard jobs and offer better outcomes for its creditors immediately. According to Kabel, the administration process at Aartee Bright Bar is unwarranted, unnecessary, and unsupported by the majority of its creditors and employees who are at risk of losing their jobs. He has encouraged Aartee Bright Bar's creditors, employees, and stakeholders to support GFG Alliance's efforts to rescue the company.

GFG Alliance has provided £620,000 to settle the wage arrears of Aartee Bright Bar's employees, and now intends to merge the company into Liberty Steel, with the goal of retaining all 250 employees.

Aartee Bright Bar is owned by Mr. Ravi Trehan, who was previously a director of Liberty Steel Newport, other Liberty companies, and several entities closely linked to the Gupta Family Group Alliance. Mr. Trehan had also held a minority stake in Liberty Commodities. Mr. Gianpiero Repole, a former director of Liberty Commodities and business development manager at GFG, had resigned from his role as chief executive of Aartee Bright Bar in August 2022.

voda 15 maart 2023 08:47

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thyssenkrupp Breaks Ground for Annealing & Insulation Line at Bochum

German steelmaker thyssenkrupp Steel has started construction on a new annealing and insulation line at its Bochum site, which will produce steel grades for electromobility. The new unit will be capable of producing thinner electrical steel strips with homogeneous mechanical and magnetic properties, designed to meet the requirements of highly efficient motors used mainly in electric vehicles. The plant will have a production capacity of up to 218,000 metric ton per year and will produce non-grain oriented electrical steel. The project is a joint effort between thyssenkrupp Steel and plant builder SMS group and is expected to be completed by 2024. The investment for this project is around €150 million.

Length: 364m
Height: up to 13.5m
Capacity: 218,000 metric ton per annum
Strip widths: 700mm to 1,350mm
Strip thicknesses: 0.2mm to 1.0mm

It is important for steel producers to keep up with the demands of the electric mobility trend by developing and producing high-quality electrical steel grades that can increase the efficiency of electric motors used in vehicles. With the new annealing and insulation line at thyssenkrupp Steel's Bochum site, the company is making a significant investment to enhance its capabilities and capacities for non-grain-oriented electrical steel production. The process involves recrystallizing the microstructure of the cold-rolled strip during annealing, adjusting it to the corresponding texture, and providing it with an insulating layer. This will enable the production of thinner electrical steel strips with particularly homogeneous mechanical and magnetic properties, which are crucial for the efficient performance of electric motors.

voda 15 maart 2023 08:48

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Jindal Stainless to Install Rooftop Solar Plants at Jajpur & Hisar Plants

Jindal Stainless has announced its plans to reduce its carbon footprint by installing two rooftop solar plants, with capacities of 21MWp and 6MWp, at its Jajpur and Hisar units respectively. The installation of these plants will take place on the roofs of various shop floors, with an overall investment of more than ?120 crores. Both projects are expected to be completed by March 2024.

The two planned rooftop solar plants at Jindal Staginess’s Jajpur and Hisar units are expected to generate about 795 million units of electricity, which will result in a carbon abatement potential of 564,450 ton over their lifespan of 25 years. In addition to the significant environmental benefits, the rooftop solar plants will also conserve 108 acres of land that would have been required if the plants were located on the ground.

Jindal Stainless Hisar has already commissioned a rooftop solar project of 4.1MWp capacity, which is capable of generating 111 million units of electricity and reducing 78,597 tonnes of CO2 emissions.

Jindal Stainless is making significant strides towards achieving its Net Zero carbon emissions goal by implementing sustainable initiatives and adopting renewable energy solutions. The company has introduced the position of Chief Sustainability Officer and has become India's first stainless steel company to install a Green Hydrogen Plant at Hisar.

In addition, Jindal Stainless has successfully reduced its carbon emissions by 140,000 ton in 2021-22. The company has also signed a contract with ReNew Power to develop a utility scale captive renewable energy project for its plant in Jajpur. This project will generate 700 million units of electricity per year using a combination of solar and wind power generation technologies.

voda 15 maart 2023 08:49

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John Cockerill to Install Two Acid Regeneration Plants at JSPL Angul

Jindal Steel & Power Limited is committed to reducing the environmental impact of its Odisha steel plant by leveraging green technology solutions. To this end, the company has partnered with John Cockerill Industry to install two Fluidized Bed Acid Regeneration Plants at the plant. These ARPs have a capacity of 3,600 liters per hour each and are designed to achieve extremely low dust and acid mist emissions. The plants will also enable the recycling of almost 100% of the spent pickling liquor generated during the steel manufacturing process, further reducing the environmental impact of the plant.

The installation of the two Fluidized Bed Acid Regeneration Plants at Jindal Steel & Power Limited's Odisha steel plant will not only significantly reduce dust and acid mist emissions but will also allow for close to 100% recycling of spent pickling liquor. Furthermore, the installation will work in conjunction with a tank farm to efficiently manage all consumables, thereby eliminating or reducing other waste streams, including waste water and solid hazardous waste. Through the adoption of these technologies, the plant will achieve a high level of process security, throughput, and plant availability.

voda 15 maart 2023 08:49

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SMS to Revamp Electric Arc Furnace & Caster for Beam Blanks

SULB Company BSC, situated in the Kingdom of Bahrain, has selected SMS group for the refurbishment of their 130 metric ton electric arc furnace and the modernization of the four-strand continuous caster to produce billets and beam blanks. The primary objectives of this project are to improve safety, increase efficiency, and boost productivity, ultimately resulting in higher quality products. Production is set to begin in 2024.

The installation of the CONDOOR® slag door enhances operating personnel safety by enabling automatic slag cleaning of the furnace breast, eliminating the need for slag removal by forklift. This modernization also helps to reduce specific energy consumption and increase production yield, while significantly reducing the iron oxide content in the slag. The upgrade is expected to improve efficiency and productivity, ultimately leading to upgraded product quality.

To improve the productivity and efficiency of its four strands continuous caster, SULB has commissioned a modernization project that includes additional cooling and strand support in the upper segments. The project aims to increase casting speeds and productivity, and to achieve this, segment 1 will be rebuilt for bloom and beam blank sections. This will involve the installation of a new spray cooling system, water deflectors, a new hydraulic system, and an expanded steam extraction system. By modernizing its caster, SULB will have greater production flexibility, enabling it to respond more effectively to market demand.

The SULB Bahrain plant, located in Hidd industrial area, has a melt shop and a medium and heavy section rolling mill supplied by SMS, encompassing the whole process from DRI to finished steel.

SULB is a leading fully integrated producer of medium and heavy beams as well as structural steel sections in the Middle East. It is a joint venture between Foulath Holding and Japan’s Yamato Kogyo, which is also a producer of beams and structural sections. SULB operates two plants, one located in the Kingdom of Bahrain in Hidd and the other in the Kingdom of Saudi Arabia in Jubail. The Jubail plant is a mill for light-to-medium steel sections, also supplied by SMS group.

voda 15 maart 2023 08:49

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Tube Investments to Venture into API CDMO

Tube Investments of India, which manufactures precision steel tubes and industrial chains, is diversifying its business portfolio by entering the Contract Development & Manufacturing Organization (CDMO) sector. The company has identified CDMO and Active Pharmaceutical Ingredients (API) as potential areas for growth. Tube Investments of India, has recently signed an agreement with Mr. N Govindarajan, a professional with extensive experience in the pharmaceutical industry, to establish a new subsidiary and venture into the CDMO business.

Tube Investments of India plans to invest ?285 crore in its new subsidiary in the form of equity and compulsorily convertible preference shares in tranches. Additionally, Mr. N Govindarajan, who has rich experience in the pharmaceutical industry, would also invest up to ?15 crore in equity and compulsorily convertible preference shares in tranches. As per the agreement, subject to performance and other specified terms and conditions, Mr. Govindarajan would be entitled to receive up to 25% of the equity for his investment.

Tube Investments of India is a part of the Murugappa Group, which is a diversified conglomerate with interests in various industries such as engineering, abrasives, fertilizers, and more.

voda 15 maart 2023 08:49

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CSPA Urges Government to Protect Canadian Steel Industry from Imports

The Canadian Steel Producers Association has called on the Canadian Government to take measures to protect the competitiveness of the local steel industry and safeguard jobs. This comes as Canadian steel import share has been on a continuous rise, increasing from 19% in 2014 to 39% in 2022. Ms. Catherine Cobden, the President & CEO of the Canadian Steel Producers Association, emphasized the importance of Canadian steel producers in supporting workers and communities across the country. She added that, while the country is making efforts to reduce climate emissions, they are losing market share to high carbon, offshore steel at an unprecedented rate.

CSPA has expressed concern over the rise of offshore steel imports into Canada, which has grown significantly from 19% in 2014 to 39% in 2022. This has led to Canadian steel producers being undercut by countries with a history of unfair trade practices. Hundreds of thousands of tons of steel in 2022 alone came from countries with active anti-dumping cases against them.

CSPA emphasized that Canadian steel is currently one of the most environmentally friendly steel in the world, as per international benchmarking studies. The industry is continually reducing their carbon emissions and has already announced significant projects that will decrease greenhouse gas emissions by over 45% by 2030. However, to achieve the goal of net-zero emissions, further efforts are necessary. Ms Cobden noted, “To enhance our competitiveness and maintain our climate leadership, we urge the government to adopt a comprehensive industrial strategy that includes investment support, prioritizes the use of low carbon steel, strengthens our trade defenses, and ensures carbon pricing schemes facilitate rather than hinder decarbonization investments in Canada.”

CSPA emphasizes that the United States' Inflation Reduction Act provides various incentives to encourage the adoption of new technologies and the use of domestically produced steel, offering up to $369 million in support for transformative investments. Similar actions are being taken by other allies, such as the EU.

voda 15 maart 2023 08:50

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Ramakrishna Forging & Titagarh Wagons JV Lowest Bidder in Wheels Tender

According to sources cited by the Times of India, the consortium of Ramakrishna Forgings and Titagarh Wagons has emerged as the lowest bidder for the manufacturing and supply of 80,000 forged wheels for the Indian Railways annually for 20 years. The consortium has quoted a price of ?17,875 crore, beating out two other bidders, Steel Authority of India Limited, which quoted ?18,817 crore, and Bharat Forge.

Under the bid terms, the winning bidder will be required to manufacture 80,000 wheels in the first three years and maintain an annual production of 80,000 wheels thereafter.

The forged train wheels produced by the winning bidder will be utilized in semi-high speed and high speed trains. As part of the agreement, the Indian Railways will purchase almost 80,000 of these wheels per year from the proposed facility for a total of ?600 crore annually. Additionally, the manufacturer will have the opportunity to export the wheels to Europe and other countries, but only after fulfilling the Indian Railways' requirements.

voda 15 maart 2023 08:51

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German Labor Minister Mr Heil Visits ArcelorMittal Eisenhüttenstadt

During a recent visit to ArcelorMittal Eisenhüttenstadt, Germany's Federal Minister of Labor, Mr. Hubertus Heil, met with Mr. Reiner Blaschek, CEO of ArcelorMittal Germany and Chairman of the Board of Management for the company's production plants in Bremen and Eisenhüttenstadt. He was joined by the Labor Directors, Works Council, and representatives from IG Metall to discuss the implementation of social transformation initiatives at these sites.

During the meeting, Mr. Blaschek updated Mr. Heil on the company's strategy, stating that “Dual vocational training and dual courses of study are instrumental in our efforts to prepare for the ongoing transformation. To ensure future success, we need to urgently recruit more skilled professionals. Legislative initiatives on immigration could be a solution. We're making significant investments in future technologies at both locations and our clear location concepts offer prospects not just for our employees, but also for partner and supplier companies. Our employees are integral to our transformation strategy, and we plan to take all necessary measures collectively through agreements that secure our future.”

Mr. Heil commented on the significance of the steel industry in Germany, stating that "The steel industry plays a crucial role in our country. The plans presented by ArcelorMittal to decarbonize steel production are both impressive and challenging. Additionally, I'm pleased to see that the company recognizes the value of investing in education and training as a way to secure skilled workers. This approach benefits both parties ArcelorMittal gains access to top-notch professionals who are essential for meeting the challenges of the future, while employees feel valued and supported in their personal and professional growth."

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