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voda 6 april 2023 08:27

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Former Mesco Workers in Kalinganagar Suffer in Silence Due to Landlessness

Mesco Steel plant's closure three years ago in Kalinganagar, Jajpur district, has left the local displaced people in acute poverty. The company had acquired 530.68 acres of land, promising jobs for locals, but the residents have lost their livelihood means as the company failed to keep its promise. The state government had promised development, employment and that Kalinganagar will become the steel hub of India, which hasn't materialized. The company has allegedly duped people during land acquisition and illegally acquired mines, resulting in a fine of ?900 crore imposed by the government.

Despite protests and pleas, the people are facing daily hunger pangs, and they are waiting to vent their frustrations during the upcoming assembly elections. Kalinganagar ADM has informed the higher authorities of the state government about the jobless workers' plight, and it's up to them to take a call on the issue. The closure has led to severe hardship for the displaced people, and they don't know whether they will get their land back. The Odisha government's silence on the matter has irked the locals, and they are demanding the government takes over the plant and resumes operations.

"The closure of the plant has left us without any means of livelihood, and we are struggling to survive," said a resident of the area. The locals feel betrayed and forgotten by the company and the government, and they want justice. They believed that the establishment of the plant would bring prosperity and development, but the reality is entirely different. The closure has resulted in widespread unemployment and poverty, and the people are eagerly waiting for a solution to their problems. The state government needs to take necessary steps to ensure the displaced people's welfare and restart the operations of the plant.

voda 6 april 2023 08:28

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India's Import of Steel Scrap Falls below 5 Million Metric Tons in FY22

The import of steel scrap in India has decreased over the past three years, according to data provided by the Joint Plant Committee. In the 2019-20, the country imported 6.566 million metric tons of scrapped steel, which decreased to 5.571 million metric ton in 2020-21, and further to 4.845 million metric ton in 2021-22. Union Minister of State for Steel & Rural Development, Mr. Faggan Singh Kulaste, stated that the Indian government is committed to facilitating the growth of the steel industry in the country and promoting the establishment of metal scrapping centers. His statement came in a written reply to the Lok Sabha, the lower house of the Indian parliament.

To further promote the establishment of metal scrapping centers for scientific processing and recycling of ferrous scrap, the Ministry of Steel notified the Steel Scrap Recycling Policy on November 7, 2019. The policy provides standard guidelines for setting up dismantling centers and scrap processing centers, defining the roles of aggregators, and specifying the responsibilities of the government, manufacturers, and owners.
Steel Scrap.

voda 6 april 2023 08:28

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US Steel Shipments in February Down 3% MoM

The American Iron and Steel Institute has reported a decrease in U steel mill shipments for the month of February 2023. According to the report, the mills shipped 6.917 million short tons, which is a 4.4% decline from the 7.232 million short tons shipped in February 2022. The figures for January 2023 also show a decrease, with shipments down 3.2% from the previous month at 7.148 million short tons.

The decline in shipments is reflected across multiple sectors, with corrosion-resistant sheet and strip shipments down 5%, cold-rolled sheet shipments down 9% and hot-rolled sheet shipments down 10%. The AISI report suggests that this decline could be due to several factors, including supply chain disruptions and a slowdown in the construction industry.

Year-to-date shipments for 2023 have also fallen by 6.2%, with 14.066 million short tons compared to 14,990 million short tons for the first two months of 2022.

voda 6 april 2023 08:30

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SBI to Hold Swiss Auction for Visa Steel Debt

State Bank of India is set to conduct an auction for the sale of Visa Steel’s debt, after Acre ARC made a cash offer of ?243 crore for ?697 crore worth of loans. The Swiss challenge auction is expected to take place soon. Acre had initially offered ?230 crore in February but increased the offer in a bid to secure the deal. Sources suggest that Acre is likely to be declared the winning bidder, as rival Asset Reconstruction Co India (Arcil) has not yet made a competing bid.

The Swiss challenge auction is a method used in India to invite counter-bids after an initial bid has been made for a project. Under this process, the original bidder is given the opportunity to match or better the counter-bid submitted by a third party.

Visa Steel is a debt-laden company that manufactures and sells iron and steel products, with facilities in Odisha and Jharkhand. The company had availed a term loan from SBI in 2009 and other banks. However, due to difficulties in the steel sector, the company faced financial challenges, leading to delays in loan repayments. In 2020, the National Company Law Tribunal approved the resolution plan submitted by Acre ARC for Visa Steel, which included the acquisition of the company's debt.

Founded in 1994 by former Tata Steel Director Raw Materials Mr. Vishambhar Saran, Visa Steel is an integrated steel producer with a production capacity of 0.5 million metric tons per annum. The company has two manufacturing facilities located in Kalinganagar, Odisha, which include 150,000 metric tons per annum Ferro Chrome plant and 400,000 metric tons per annum steel plant. The steel plant produces billets and rebars. Visa Steel also has a 100 MW captive power plant to support its manufacturing operations.

voda 6 april 2023 08:30

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Aperam to Cut Energy Consumption by 30% with Facility Upgrades

Luxembourg-based stainless steel producer Aperam has announced plans to invest in upgrading its facilities to reduce energy consumption by 30%. The move comes after the company suffered significant impact from energy prices, which soared during peak prices in the summer of 2022. Aperam procures its energy through forward hedges, spot, and fixed-price contracts, according to its annual report. In 2022, spot prices for natural gas TTF rose by 150% compared to 2021, while electricity values also peaked in August 2022, with annual averages in Belgium and France increasing by around 150% YoY.

By reducing its energy consumption, Aperam hopes to improve its energy mix and reduce its exposure to price volatility. The company reported strong results in 2022, with a turnover of nearly €8.2 billion, up from €5.1 billion the previous year. However, its EBITDA was slightly €1 billion, down from €1.1 billion in 2021.

Aperam currently has an annual production capacity of 2.5 million metric tonnes across six facilities located in Brazil, Belgium, and France, and employs 10,700 workers. The upgrades to its facilities will likely have a positive impact on the company's environmental footprint and help to reduce its carbon emissions. Aperam is committed to sustainability and is aiming to reduce its CO2 emissions by 30% by 2030.

Bijlage:

voda 6 april 2023 08:31

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Centravis to Expand Presence in European Automotive Market

Ukrainian stainless seamless pipe producer, Centravis, is set to strengthen its position in the European market, particularly in the automotive segment. The company is aiming to increase production volumes and reduce logistics costs by launching production in Uzhgorod, where it opened a new production facility specializing in instrument pipe for automotive brands like Volkswagen, Audi, BMW, and Chevrolet in February.

The company is planning to expand production at the site, with the construction of the second phase scheduled for completion this summer. This will allow Centravis to increase its production volumes and reduce logistics costs, as the new facility will be closer to its European customers.

Centravis was founded in 2000 and has become a leading supplier of high-quality pipes to customers around the world. The company specializes in the production of stainless steel seamless pipes and tubes and operates two production facilities in Ukraine, located in the cities of Nikopol and Zaporizhia.

The facilities are equipped with modern technologies and equipment that enable the company to produce a wide range of stainless steel pipes and tubes in various sizes and thicknesses. The company's product portfolio includes pipes and tubes for various applications, such as oil and gas.

With the expansion of its production facilities in Uzhgorod, Centravis is set to further strengthen its position in the European market and become a more competitive supplier of high-quality stainless steel pipes and tubes to the automotive and instrument segments.

voda 6 april 2023 08:32

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Intelligent Steel Solutions in Durham Collapses

Intelligent Steel Solutions, a structural steel supplier based in County Durham in UK, is set to be placed into liquidation, causing a loss of at least £1.4 million to its supply chain and leaving 23 staff unemployed. The company relied heavily on supplying structural steel for projects being carried out by Henley Construct, which shares the same directors, Mr. Kashif Zafir Usmani and Mr. Tariq Zafir Usmani. The company has incurred a loss of £4 million in the last 15 months, including inter-company loans, and has 55 unsecured creditors.

The insolvency specialist handling the case, 360 Insolvency, reports that the creditors are not expected to receive any payment for their unpaid invoices. The liquidation of Intelligent Steel Solutions highlights the importance of proper risk management in business relationships and the need to thoroughly vet potential partners before entering into contracts.

The fallout from the failure of Intelligent Steel Solutions is likely to be significant for all those involved, including Henley Construct, which heavily relies on the supplier for structural steel.

The liquidation of Intelligent Steel Solutions comes at a time when the construction industry is facing numerous challenges, including rising material costs and supply chain disruptions.

voda 6 april 2023 08:33

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Rebar import market weakens in East Asia
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The rebar import market continues to weaken in East Asia, Kallanish notes.

A Vietnamese mill sold around 55,000 tonnes of rebar last week to Singapore and Hong Kong. Some 30,000t were sold at $635/tonne cfr Singapore theoretical-weight basis and the remaining 25,000t at $645/t cfr Hong Kong actual-weight basis, say sources in Vietnam and Singapore.

"The Vietnam market is quite slow," a manager at an EAF mill in Vietnam says. He hears the Vietnamese exporter has raised its offer to $650/t cfr Singapore after concluding the deal, but he believes it will accept a firm bid at lower prices. "They [the exporter] are hungry," he adds.

The Vietnamese rebar was sold at a competitive rate, a Singapore trader observes. Offers for Middle Eastern and Malaysian theoretical-weight rebar are similarly priced now, he notes. Middle Eastern rebar is currently offered at $640/t cfr Singapore, while Malaysian rebar is offered at $645/t delivered Singapore, which is equivalent to around $635/t cfr Singapore.

Last week, rebar from Malaysia was offered at $655/t theoretical weight delivered to Singapore, while Middle Eastern rebar was offered at $655/t cfr Singapore. “In the current market context, prices are likely to be negotiable,” the Singapore trader says. "The overall market sentiment is weak, not only in China," another Singapore trader opines.

Anna Low Singapore

voda 7 april 2023 11:44

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Baosteel Starts Mass Production of BeyondECO®-30% Green Steel

Baosteel, China's leading steel manufacturer, has officially produced and supplied its first mass-produced low-carbon emission automotive sheet product on March 27. This marks an important milestone for Baosteel's cooperation project with Beijing Benz to jointly build a low-carbon green steel supply chain. The first roll of electro-galvanized low-carbon steel, named BeyondECO®-30%, strictly complied with relevant carbon reduction measures and production process routes.

Baosteel's BeyondECO®-30% is a high-quality electro-galvanized low-carbon steel with excellent surface quality, deep-drawing performance, and weldability. It has broad applications in the automotive industry, household appliances, and construction sectors.

The launch of the BeyondECO® -30% low-carbon steel product has significant environmental benefits, such as reducing greenhouse gas emissions and air pollution. This is a crucial step towards a sustainable future, and Baosteel is leading the way in promoting the use of low-carbon steel products and helping to achieve China's carbon emission reduction goals.

The successful mass production and supply of BeyondECO®-30% marks a significant achievement in Baosteel's efforts to promote sustainable development, reduce carbon emissions and drive innovation in the steel industry. It also demonstrates Baosteel's determination to develop new environmentally-friendly materials that meet the changing needs of its customers and contribute to a better future for everyone.

The production of low-carbon steel is an essential part of Baosteel's commitment to sustainable development and the company's determination to reduce carbon emissions. Baosteel's professional team calculated that the carbon reduction strength of this electro-galvanized low-carbon steel coil is more than 30% lower than that of the steel coil produced by the non-carbon reduction route of the original part. The company's internal evaluation of steel coil quality and other key indicators have also met the requirements of the target parts.

voda 7 april 2023 11:45

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German Steel Industry Resists IG Metall's 32-Hour Week Demand

The German steel industry is facing an existential challenge due to the transformation brought about by exorbitantly increased energy costs and the economic effects of the Ukraine war. Against this backdrop, the Steel Employers' Association has criticized IG Metall's demand for the introduction of a 32-hour workweek as untimely. The Association has argued that any additional cost increases at this juncture would further jeopardize the success of the transformation. The demand for the introduction of the 32-hour workweek, which would result in reduced working hours and increased wages for workers, comes at a time when the industry is already grappling with multiple challenges. Despite these challenges, the industry has been making significant efforts to transform and adapt to changing circumstances. However, the Steel Employers' Association argues that the introduction of the 32-hour workweek would be a step in the wrong direction and could impede the industry's ability to navigate these challenges successfully. The Steel Employers' Association argues that such a move would be counterproductive at a time when the industry is already facing multiple challenges.

The debate over the 32 hour workweek demand is likely to continue, with both sides putting forth their arguments. In the meantime, the German steel industry will continue to navigate the challenges it faces and work towards a more sustainable and prosperous future.

The German trade union IG Metall is pushing for the introduction of a four-day workweek with full wage compensation in the steel industry during the upcoming collective bargaining round, scheduled to begin in November. The proposed reduction in weekly working hours from 35 to 32 would provide employees with much-needed relief and improve their quality of life and health, according to Mr. Knut Giesler, chief negotiator for IG Metall in the north-west German steel industry. In addition, Giesler hopes the four-day week will make the industry more attractive to young people and prevent future job losses. Mr. Giesler believes the introduction of a four-day workweek will be particularly important as the coal-based heavy industry in Germany is converted to green steel. It is hoped that a reduction in working hours will provide some relief for employees who are expected to face job losses during this transition. However, the proposed reduction in weekly working hours may be easier to implement in administration and two-shift operation, rather than in three-shift operation, according to the newspaper.

The demands of IG Metall come as some of the applicable tariffs in the industry expire this year. Successful negotiations typically result in a pilot agreement for the north-west German steel industry, covering North Rhine-Westphalia, Lower Saxony, Hesse, and Bremen, which is then implemented in other federal states. However, Giesler acknowledged that the switch to a four-day workweek could take some time, especially in companies where employees work in three shifts.
IG Metall is a powerful German trade union that represents metalworkers, electricians, and other industrial workers in various sectors of the economy. It is the largest trade union in Germany and one of the most influential labor organizations in the world. IG Metall was founded in 1949 and has its headquarters in Frankfurt. It has approximately 2.2 million members who work in a range of industries, including the automotive, machinery, steel, and electronics sectors.

voda 7 april 2023 11:45

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Slowdown in Construction Sector Affects Rebar Consumption in India

Bars and rods continue to dominate India's consumption of steel products with a staggering 41% share, according to the Union Minister of State for Steel & Rural Development, Mr Faggan Singh Kulaste. The data presented by the minister shows that in the year 2022-23, India consumed 119 million metric tons of steel, out of which 49% was long products and 51% was flat products. Among the long products, bars and rods accounted for 49.1 million metric tons

The dominance of bars and rods in India's long products consumption can be attributed to the country's booming infrastructure and construction sectors. The government's focus on building highways, airports, and affordable housing has led to a surge in demand for steel products, especially bars and rods.

On the other hand, it is interesting to note that the growth in rebar consumption in 2022-23 is projected to be 7.1%, which is substantially lower than the overall yearly growth rate of 12.7% in steel consumption. This suggests a weak demand for the construction sector, which is usually a key driver of steel demand in developing economies like India.

Typically, as a developing economy builds its infrastructure and expands its construction activities, the demand for long products such as bars and rods increases. However, in a developing economy like India, where infrastructure is already in place, the demand for flat products such as hot-rolled coils, cold-rolled coils, and coated steel, tends to drive the steel demand.

The lower growth rate in rebar consumption in 2022-23 could be attributed to a slowdown in the construction sector, which could be a result of factors such as rising interest rates, a slowdown in the real estate market, or delays in infrastructure projects. It is worth noting that the Indian government has been taking measures to boost the construction sector, such as implementing the affordable housing scheme, investing in infrastructure projects, and promoting the use of steel in construction.

voda 7 april 2023 11:45

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JFE Steel Develops Thin AFD Steel with Improved Resistance

JFE Steel has announced the development of a thin version of its Anti-Fatigue-Damage steel with improved fatigue resistance. The new product has been registered (KT-220231-A) in the New Technology Information System managed by Japan's Ministry of Land, Infrastructure, Transport and Tourism. The thin AFD steel, with a minimum thickness of 9mm, is expected to be deployed in a wider range of applications, including bridge structural members that are prone to cracking over time. The steel plate retains the mechanical properties of conventional plates while offering improved fatigue resistance. The steel meets the standards for rolled steel used in bridges, including welded structures (JIS G3106 SM490) and high-yield-strength steel plate (JIS G3140 SBHS500).
The thin-walled members of bridges are susceptible to fatigue cracking over time, and such cracks are at risk of increasing in size between inspections and maintenance. The AFD steel reduces the fatigue-crack growth rate to half or less of the upper limit of ordinary steel and roughly doubles product life compared to ordinary steel, both of which reduce lifecycle costs associated with long service life.
The new thin AFD steel is produced at the Keihin facility of JFE Steel's East Japan Works using the Super-RQ system with advanced cooling control. The plate mill started operating in March 2020, and the steel plate is expected to be deployed in a wide range of applications such as bridges, ships, construction machinery, and industrial machinery.
JFE Steel will continue to improve the performance and quality of steel materials to achieve superior durability, safety, and economy in steel structures. The company aims to contribute to a more sustainable world in the future.

voda 7 april 2023 11:45

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Zhanjiang Hydrogen Shaft Furnace Shell's Last Section Hoisted Successfully

Baosteel Zhanjiang Iron and Steel has successfully hoisted the last section of the hydrogen-based shaft furnace shell, marking a significant milestone in the hydrogen-based shaft furnace project construction. The first million-ton hydrogen-based shaft furnace in China is expected to reduce carbon dioxide emissions by over 50 metric tons per year, compared to traditional blast furnace iron smelting of the same scale. The furnace shell is divided into five sections, with the last section being hoisted into place on April 10, 2023, and weighing around 3.12 metric tons. The hydrogen-based shaft furnace project is expected to be completed by the end of 2023.

The furnace body shell comprises five sections and constitutes the shaft furnace body, which can reach an internal temperature of 1050°C under normal production conditions. The pellet is heated, reduced, carburized, and undergoes other reactions, finally producing direct reduced iron of qualified quality. The hydrogen-based shaft furnace project construction entered the peak period of furnace roof structure installation after the successful completion of the hydrogen-based furnace shell.

The project has been laying its first pile since February 2022, and after more than 15 days of intense construction, the important moment of hoisting the final section has finally arrived. During the period, the ironmaking project team worked with construction, design, supervision, and other units to efficiently promote the implementation of each construction node to ensure that project safety, quality, and progress were fully controlled.

The hydrogen-based shaft furnace project is an innovative platform for domestic independent integration and research and development of all-hydrogen smelting technology, and an action of Zhanjiang Iron and Steel to help achieve the national "dual carbon" goal and practice green and low-carbon development. Zhanjiang Iron and Steel will continue to cooperate with relevant units to accelerate the smooth commissioning of the hydrogen-based shaft furnace and contribute to the green and low-carbon development of the steel industry in the future.

voda 7 april 2023 11:46

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Chinese Firms in Advanced Talks to Buy Pakistan Steel Mills

According to Pro Pakistani, a consortium of Chinese companies is in advanced talks to acquire Pakistan Steel Mills as part of the process to privatize the state-owned company. The Privatization Commission is leading the efforts to sell PSM and is reportedly in contact with several firms already involved in the bidding process.

Four Chinese companies are said to be in the lead to acquire PSM, with two of them already having visited the company, according to officials from the Ministry of Industries and Production. In total, eight companies have expressed interest in acquiring PSM, and a group of six companies has submitted eligibility documents for participating in the bidding process.

Steel Corp Private Limited has reportedly acquired PSM's main plant and 1,229 acres of company property. The National Electric Power Regulatory Authority has also issued a power generation license in the name of Steel Corp. Meanwhile, efforts are underway to pay off the pending dues of Sui Southern Gas Company Limited owed by Pakistan Steel Mills.

The privatization of Pakistan Steel Mills is viewed as vital for the country's economic growth by government officials. The plan aims to attract foreign direct investment, generate employment opportunities, and create the necessary productive capacity to sustain domestic infrastructure development, with access to steel also slated for export from Pakistan's strategic location.

voda 7 april 2023 11:46

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ASEAN-6 Economic Growth Decelerates in Q4 2022

The South East Asia Iron & Steel Institute reports strong economic growth for ASEAN-6 countries (Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam) in 2022 despite multiple challenges, including the Ukraine war, volatile commodity prices, high inflation, and increasing interest rates. The GDP growth for all ASEAN-6 countries exceeded or matched pre COVID year 2019 figures, indicating a return to a growth path. The quarterly results show a positive trend for the economies in 2022. In Q4 2022, Indonesia's GDP growth was 5.3%, Malaysia's was 8.7%, the Philippines' was 7.6%, Singapore's was 3.6%, Thailand's was 2.6%, and Vietnam's was 8%.

While ASEAN-6 countries showed strong economic growth throughout 2022, the Oct-Dec quarter revealed a slowdown in some economies. Indonesia experienced a slight dip to 5% in Q4 from 5.7% in Q3, while Malaysia also saw a slowdown to 7% from a remarkable 14.2% in the previous quarter. The Philippines saw a modest increase to 7.2% from 7.6%, while Singapore experienced a significant decline to 2.1% from 4%. Thailand also experienced a slowdown to 1.4% from 4.6%. Vietnam, which had shown robust growth, saw a notable slowdown to 5.9% from 13.7%.

The growth in Q4 2022 was primarily driven by several factors, including an increase in household consumption by 4.4%, which was aided by the opening up of the economy. Investments also increased by 1.1%, mainly in machinery & equipment (22.4%) and vehicles (10.3%), as well as investments in buildings (0.9%). Exports also saw a significant boost of 14.9%, particularly in services (56.4%) and non-oil and gas goods (16.3%), supported by high commodity prices. However, government consumption declined by 4.8%, mainly due to reduced spending on health support compared to the previous year. In the construction sector, there was a slight increase in growth at 1.6% in Q4 2022, compared to the 0.6% growth registered in Q3 2022. In the manufacturing industry, there was a growth of 5.6%, and the steel-related manufacturing industry also expanded. The base metals industry grew by 15.1%, followed by machinery & equipment (7.0%) and transportation equipment (11.0%). The mining sector also expanded by 6.5%, led by expansion in non-oil & gas sectors. Coal & lignite mining expanded 14.8%, while metal ore mining expanded 16.2% in Q4 2022.

In Q4 2022, Malaysia's economy grew 7.0%, primarily due to increased consumption as containment measures were eased. Private consumption, accounting for over half of GDP, grew by 7.4%, and government consumption also increased by 2.4%. Gross fixed capital formation grew 8.8%, with private investment accounting for the majority at 67.1%. Exports and imports continued to grow, and construction and mining sectors expanded.

In Q4 2022, the Philippine economy grew by 7.2%, with household consumption contributing the most at 7.0%, followed by government consumption at 3.3%, and investments at 5.9%. Exports grew by 14.6%, while imports grew by 5.9%. All economic sectors, except agriculture, forestry, and fishing, expanded during the quarter. The construction sector grew by 6.3%, while the manufacturing sector expanded by 4.2%, with the transport equipment cluster leading the growth at 10.9%. The mining sector grew by 1.7%, significantly slower than the previous quarter.

The Singaporean economy grew by 2.1% in Q4 2022, with all industry sectors expanding except for manufacturing, which contracted by 2.6%. The construction sector grew by 10.0%, driven by an increase in private and public sector construction works. Construction demand increased by 8.1%, and certified progress payments grew by 17.7%. The transport engineering and precision engineering clusters were the only ones to show growth in manufacturing, with output in the aerospace segment rising by 24.4%.

Thailand's GDP grew by 1.4% YoY in Q4 2022, compared to a growth of 4.6% the previous quarter. Private consumption expanded by 5.7%, while government consumption contracted by 8.0%. Fixed investments grew by 3.9%, but exports and imports contracted. The construction sector expanded by 2.6%, while the manufacturing sector contracted by 4.9%. The light industry declined by 2.3%, the raw material industry declined by 7.3%, the capital and technology industry declined by 4.4%, and the mining and quarrying sector declined by 6.9%.

Vietnam's GDP grew by 5.9% YoY in Q4 2022, down from 13.7% in the previous quarter, marking the fifth consecutive quarter of growth after the Q3 2021 contraction. Construction activities grew by 6.7% YoY in Q4 2022, while the manufacturing sector expanded by 3.0% YoY. The mining sector declined by 5.1%, led mainly by a contraction in coal and lignite mining.

The ASEAN-6 countries are optimistic about economic growth in 2022, with China's growth expected to boost the region. However, the outlook for Western economies remains weak, and escalating geopolitical tensions and high interest rates will continue to impact ASEAN countries. Indonesia is forecast to grow at 5.3%, while Malaysia is expected to grow at 8.7% in 2022, followed by the Philippines at 7.6%, Vietnam at 8%, Singapore at 3.6%, and Thailand at 2.6%. In 2023, growth is expected to slow down for most countries, with Malaysia projected to grow at 4.0-5.0%, the Philippines at 6.0-7.0%, Singapore at 0.5-2.5%, Thailand at 2.7-3.7%, and Vietnam at 6.5%.

voda 7 april 2023 11:47

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Olympic Steel Appoints Ms. Burroughs as VP for Action Stainless & Alloys

Olympic Steel has named Ms. Jessica L. Burroughs as Vice President for the company's Action Stainless & Alloys subsidiary, a newly created role. Burroughs brings over 18 years of metals industry experience to the position, which encompasses commercial, sales, and marketing functions. She will report directly to Mr. Andy Markowitz, President Specialty Metals, Olympic Steel.

Mr. Markowitz stated, "Specialty metals is one of our fastest-growing business segments, and we look forward to Jessica’s fresh perspective on ways to grow the business through new customer-driven partnerships, products and value-added services. Continuing to increase the return on our investment in Action Stainless & Alloys and grow our stainless and aluminum business segments are essential pieces of our business strategy, and Jessica’s experience, expertise, and industry relationships will allow her to have an immediate impact."

Ms. Burroughs holds a bachelor's degree in anthropology and psychology from the University of Toledo, and a Master of Business Administration in international banking and finance from Texas A&M International University.

Established in 1954, Olympic Steel is a preeminent metals service center in the United States that specializes in the direct sale of processed carbon, coated, and stainless flat-rolled sheet, coil, and plate steel, aluminum, tin plate, and branded metal-intensive products. In addition, the Company's CTI subsidiary is a top distributor of steel tubing, bar, pipe, valves and fittings, and a fabricator of value-added components and parts. With its headquarters situated in Cleveland, Ohio, Olympic Steel currently operates from over 44 facilities throughout North America.

voda 7 april 2023 11:47

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Baowu Debuts Weather Resistant Steel for Photovoltaic Brackets

Baowu Central Research Institute has announced the world premiere of its super weather-resistant tie rod steel for photovoltaic brackets. This innovative product can offer a maintenance-free solution for the whole life cycle of steel used for tie rods in the photovoltaic industry without coating plating, highlighting Baowu's reform and innovation. The steel is expected to empower the "dual carbon" strategic goal and provide Baowu solutions for the photovoltaic industry from "green manufacturing" to "green manufacturing".
The photovoltaic industry in China has ranked first globally in terms of new installed capacity and cumulative installed capacity for many years. In 2022, the total output value of China's photovoltaic industry will exceed 1.4 trillion yuan. With the rapid growth of the industry, the annual demand for steel for photovoltaic brackets exceeds 500 million tons.

The tie rod is an essential component of the photovoltaic bracket system, which supports and protects the solar panels. However, tie rods are prone to corrode and fail when facing natural environmental erosion. Currently, the tie rod for photovoltaic bracket is mainly made of low-grade steel, which undergoes cold drawing and hot-dip galvanizing, resulting in a production process that is long and has a high level of pollution. Traditional hot-dip galvanized layers are thin and easy to peel off, making it difficult to meet the requirements of the entire life cycle of photovoltaic projects. Regular maintenance and renovation are required in the later stage, making the process expensive and energy-consuming.

Baowu Central Research Institute, under the background of "dual carbon," understood that the photovoltaic industry has become a new track for green and low-carbon development. The institute worked with relevant units to develop and apply energy-saving and environmentally friendly materials, with the application of weathering steel in the photovoltaic industry expected to become a trend. The successful development of the super weather-resistant tie rod steel for photovoltaic brackets with completely independent intellectual property rights meets the application requirements of coating-free and maintenance-free throughout the life cycle of photovoltaic projects and improves material toughness by more than 150%.

The successful development of super weather-resistant tie rod steel for Baowu photovoltaic brackets will reduce the construction and operating costs of photovoltaic projects, meet the needs of multiple application scenarios of photovoltaic power generation, promote the sustainable development of China's photovoltaic industry, and open up a new track for the development of steel for tie rods for photovoltaic brackets. It will also effectively promote the green and low-carbon development of the steel and photovoltaic industry chain.

voda 7 april 2023 11:47

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Turkey's Rebar under Re-Investigation in Canada as Deadline Extended

The Canada Border Services Agency has announced that it is extending its re-investigation to update the normal values and export prices of certain rebar imported from Turkey. The decision was made due to the complexity and novelty of the issues presented by the re-investigation. However, the agency has not reported the new conclusion date. The CBSA has advised importers and exporters to monitor its website for updates and consult with their legal counsel if necessary.

Previously, the re-investigation was supposed to be concluded by April 4, 2023.
However, due to the extended timeline, importers and exporters of rebar from Turkey may face continued uncertainty over the pricing and availability of these products.

The rebar in question is subject to anti-dumping and countervailing duties, which were first imposed in 2019. The CBSA initiated this re-investigation in response to an expiry review, which was launched in April 2021. The Canadian International Trade Tribunal will conduct a review of the duties in May 2023. The CITT will determine if the expiry of the duties is likely to result in injury to the domestic industry.

voda 7 april 2023 11:47

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US Makes Change in AD Duty on Steel Flanges from India

US Department of Commerce has issued a correction notice for the final results of the administrative review of the anti-dumping duty order on finished carbon steel flanges from India. The review covered the period from August 1, 2020, through July 31, 2021. In the notice, Commerce incorrectly identified one company as "USK Export Private Limited" instead of "USK Exports Private Limited" in the producer/exporter and weighted-average dumping margin table.

The corrected table now shows the correct name of the company and its associated weighted-average dumping margin percentage of 1%.

The final results of the administrative review of the anti-dumping duty order on finished carbon steel flanges from India were published on March 14, 2023, in the Federal Register.

voda 7 april 2023 11:48

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Hoa Phat Group's Steel Sales Plunge by 42% in First Quarter of 2023

Vietnamese steelmaker Hoa Phat Group produced 440,000 metric tons of crude steel in March 2023, marking a 6% increase compared to the previous month. Its sales of steel billet, construction steel and hot rolled coil also increased by 5% month-on-month, reaching 500,000 metric tons. Despite these increases, Hoa Phat Group's sales of construction steel and high-quality wire rod were down by 45% compared to the same period last year, due to lower demand in both domestic and export markets. HRC output in March was 210,000 metric tons, up 13% compared to February, with an export volume of 30,000 metric tons to the markets of Indonesia and Malaysia.

In the first quarter of 2023, Hoa Phat Group produced 1.2 million metric tons of crude steel, marking a 42% year-on-year decrease. Sales volume of construction steel, steel billet and HRC reached 1.37 million metric tons, a 37% reduction from the corresponding period last year. Construction steel reached 869,000 metric tons, down 35%, while HRC sales reached 482,000 metric tons, equivalent to more than 60% over the same period last year. Hoa Phat Group's downstream steel products recorded nearly 53,000 metric tons of steel pipes and 22,000 metric tons of coated steel sheets, reducing 41% and 39%, respectively, compared to the same period last year. Steel pipes and galvanized steel products supplied to the market in the first three months of the year were 160,000 metric tons and 69,000 metric tons, respectively, down by 23% and 34% compared to the same period in 2022.
Hoa Phat Group's crude steel capacity is 8.5 million metric tons per year, the largest in Southeast Asia. The group plans to closely monitor market developments in the coming months and regulate production accordingly.

Vertraagd	21 feb 2025 17:35
Koers	27,050
Verschil	+0,230 (+0,86%)
Hoog	27,270
Laag	26,840
Volume	1.778.340
Volume gemiddeld	2.622.761
Volume gisteren	2.493.470

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