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voda 10 mei 2023 08:52

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Ahmsa Struggles to Resume Operations amid Legal, Financial & Labor Woes"

Mexican steelmaker Ahmsa is set to resume operations this week after a prolonged hiatus of almost five months. The company, one of Mexico’s largest, has been grappling with complex financial and labor issues since last year, forcing it to halt production in December. With the arrival of natural gas supply from state-owned oil giant Pemex, CEO Mr. Luis Zamudio Miechielsen confirmed that operations could resume in about a month and a half.

However, the situation remains precarious due to a lack of a board of directors and the failure of US asset manager Argentem Creek Partners to take control of the company, which it agreed to acquire last month.

In the absence of the first tranche of $50 million of the agreed $250 million, the steelmaker has been compelled to sell scrap metal and coal to survive, but payments have not been forthcoming. The CEO has vowed to pay the salaries of the workers as the first order of business with the money, to avoid any further conflicts.

The chairman of Ahmsa client Grupo Industrial Monclova (Gimsa) has expressed concern over the recovery prospects of Ahmsa and the city of Monclova, which was once the capital of steel production in all of Latin America.

The situation is complicated, and the steelmaker is in a kind of limbo, with the previous owners having left and the new ones yet to take control. With the lack of a board of directors, the situation appears to be precarious, and the CEO has acknowledged experiencing similar situations in the past when the steel company was privatized. The ongoing labor issues and strikes, along with the bankruptcy protection, have led to distressed companies and bankruptcy, raising concerns over the future of the steel industry in Mexico.

voda 10 mei 2023 08:53

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ArcelorMittal to Resume Acería Compacta de Bizkaia Plant in Sestao

ArcelorMittal, the world's leading steel and mining company, has announced the resumption of operations at its t, Spain, after a period of maintenance. The ACB plant uses electric arc furnaces to produce hot-rolled coil and corrosion-resistant steel.

The plant had been shut down for maintenance in August of last year, but due to weak demand in the domestic market, ArcelorMittal postponed the restart. In February of this year, the company temporarily resumed production to complete an order.

Bijlage:

voda 10 mei 2023 08:54

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Walsin Lihwa Moves Up in Stainless Steel Chain with SMP Acquisition

Walsin Lihwa, a prominent player in the field of stainless steel, has recently made a significant stride by acquiring 70% equity of Special Melted Products, indirectly holding majority stake in the UK-based firm. The Italian subsidiary of Walsin Lihwa, Cogne Acciai Speciali, signed the agreement with German private equity fund Mutares for the acquisition of 100% equity of SMP for a whopping sum of £144 million.

Walsin Lihwa has been actively investing in various sectors over the past year, including Indonesian nickel pig iron, matte nickel, coal mines, and green energy electric vehicles. With the acquisition of SMP, the company aims to take another step forward in realizing its vision of becoming a global leader in the stainless steel industry.

This acquisition holds a significant position in the industry activities as Walsin Lihwa continues to expand its footprint in the stainless steel market. The move also showcases the company's commitment to the finance and economy sector by taking bold steps in investing in different areas.

voda 10 mei 2023 08:55

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Acciaierie d'Italia to Restart BF 2

Italian steelmaker Acciaierie d'Italia has announced plans to restart its No. 2 blast furnace in May or June, in an effort to reduce lead times and alleviates slab supply pressure at ArcelorMittal. The restart of the No. 2 blast furnace will enable AdI to boost its production capacity and meet growing demand for steel products.

The company, which currently operates its No. 1 and 4 blast furnaces, has been experiencing lengthy lead times, with orders placed in April scheduled for delivery as late as August, compared to competitors who can provide delivery in June or July. The European steel market is currently facing difficulties, with weak demand after restocking.

Bijlage:

voda 10 mei 2023 08:56

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MMK Metalurji HSM Suspended Again in Turkey

MMK Metalurji in Turkey has faced downward pressure on its hot-rolled coil production line due to various adverse factors. The production line, which had resumed operations in early April to meet the demand for hot-rolled coil following an earthquake, has been suspended again. The reasons for the suspension include lower-than-expected demand for hot-rolled coil in reconstruction projects, slower demand before the election, and low prices of imported resources dominating the local market. These factors have resulted in a decrease in output and ex-factory prices, putting further pressure on the production line.

The resumption of the production line will depend on orders, and it is expected to be fully restored in June.

MMK Metalurji is facing a challenging market environment as the steel industry continues to grapple with low demand and pricing pressures. However, the company remains committed to maintaining its position in the market and meeting the needs of its customers.

voda 10 mei 2023 08:56

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ArcelorMittal Kryvyi Rih Orders Employees to Stay at Home

ArcelorMittal Kryvyi Rih, Ukraine's largest steel producer, has ordered its employees to either work remotely or take Tuesday off due to the threat of Russian air strikes. The company, which employs approximately 20,000 people, is situated in the central city of Kryvyi Rih, President Mr. Volodymyr Zelenskiy's hometown, frequently targeted by Russian drone and missile attacks.

The spokesperson for the company said the decision was taken due to the escalation of enemy attacks throughout the country and the downing of a reconnaissance drone in Kryvyi Rih on Saturday, reflecting the increasing severity of the situation.

Russia has stepped up air strikes this month in anticipation of Ukraine's counteroffensive against their invasion, and vowed to retaliate after accusing Kyiv of a drone attack on Moscow's Kremlin citadel, which Ukraine denied.

voda 10 mei 2023 08:56

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US Steel Capaciity Utilization Climbs to 76%

The American Iron & Steel Institute announced that US’s raw steel production figures for the week ending May 6, 2023, the capability utilization rate was 76.1 percent, with production reaching 1.712 million net tons. This shows a decrease of 3.4 percent from the same period last year when production was 1.773 million net tons, and the capability utilization rate was 81.2 percent. However, it is noteworthy that production for the previous week ending April 29, 2023, was only 0.2 percent higher than the current week, with production of 1.716 million net tons and a capability utilization rate of 76.3 percent.

Production figures vary according to district, with the North East producing 139,000 net tons, Great Lakes producing 580,000 net tons, Midwest producing 208,000 net tons, Southern producing 717,000 net tons, and Western producing 68,000 net tons

Year-to-date production through May 6, 2023, has been adjusted to be 30.098 million net tons, with a capability utilization rate of 74.7 percent. This reflects a decrease of 4.3 percent from the same period last year when production was 31.461 million net tons, with a capability utilization rate of 80.3 percent.

voda 10 mei 2023 08:57

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USITC Reviews AD Probe on CTL Plates

The United States International Trade Commission has released its fourth review report on the adequacy determinations for cut-to-length carbon-quality steel plate from India, Indonesia, and South Korea. The report, which was made public on May 8, 2023, provides a detailed analysis of the impact of imports on the domestic industry and evaluates whether the continuation of the subject imports is likely to lead to material injury to the domestic industry.

The report notes that the domestic CTL plate industry has been facing tough competition from imports, particularly from India and South Korea, which have been flooding the US market with low-priced CTL plate. The USITC has found that the subject imports are causing material injury to the domestic industry, and that there is a likelihood of continued injury if the imports are allowed to continue.

The USITC has recommended that the US government take measures to address the issue, including the imposition of antidumping and countervailing duties on imports of CTL plate from India, Indonesia, and South Korea. The report emphasizes the importance of ensuring that the domestic industry is able to compete on a level playing field, without being undermined by unfair trade practices.

voda 10 mei 2023 09:02

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Arvedi reiterates support for Europe scrap export restriction
569 Views

Mario Arvedi Caldonazzo, head of the Arvedi Group and vice-president of Eurofer, has reiterated his concern over the future availability of scrap in Europe and the need to ensure the strategic resource stays in the continent.

During Tuesday’s Made In Steel event in Milan, Caldonazzo said the export of some 20 million tonnes/year of scrap from Europe – mainly to Turkey – represents a significant loss for the European economy. As European steelmakers are increasing their demand for scrap to further reduce CO2 emissions, scrap has become even more strategic for the future of European steelmakers.

“There are over 50 countries in the world that significantly limit the export of scrap. Europe cannot implement such an export ban, but we need to start making sure that ferrous scrap is defined as a critical raw material, not only waste,” Caldonazzo commented at the event attended by Kallanish. “We need to make sure that scrap remains in Europe. We seem to be the only ones concerned with WTO requirements on this topic.”

The concern expressed by Caldonazzo was also confirmed by Giampietro Benedetti, president of Danieli. He said the availability of scrap resources in Europe will be one of the most important challenges for steelmakers going forward, as integrated producers continue to increase the use of scrap in their production cycle.

At the end of last year, the European Parliament changed the Waste Shipment Regulation, limiting the export of scrap to non-OECD countries, such as India, China and Pakistan. Eurofer welcomed some of the changes implemented by the new regulation, but stressed the need to also monitor exports to OECD countries, such as Turkey.

Emanuele Norsa Italy

voda 10 mei 2023 10:49

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Glimpsing the Indian Steel Industry
(2022-23)

Exclusive Report by SteelGuru

A Year of Somnambulistic Reversal

Bijlage:

voda 11 mei 2023 07:57

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JSW Steel Achieves Remarkable Growth in April 20231

JSW Steel, a prominent player in the steel industry, has achieved a remarkable feat in the month of April 2023 as standalone production of crude steel witnessed a stupendous growth of 7% compared to the same period last year

The production of flat rolled products surged to a commendable 1.392 million metric tons, exhibiting a substantial growth rate of 16% vis-à-vis the corresponding period in the previous year. However, the production of long rolled products experienced a slight dip, amounting to 0.321 million metric tons, which denotes a marginal decline of 9% year-on-year.

The disparity in the production figures of long rolled products can be attributed to planned capital shutdowns implemented at the Vijayanagar plant during the month of April 2023.

voda 11 mei 2023 07:58

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Emirates Steel Arkan Q1 Profit Soars

Emirates Steel Arkan, the preeminent publicly traded steel and building materials company in the UAE, has witnessed an extraordinary surge in its first-quarter net profit, catapulting an astounding 110% to AED152.2 million ($41.45 million). This substantial increase stands in stark contrast to the net profit of AED72.6 million recorded during the initial three months of 2022.

The stellar performance in Q1 2023 can be attributed to a confluence of factors, including augmented volumes from the Steel division, the successful expansion into untapped export markets, and heightened sales of value-added products with augmented margins.

In Q1 2023, the Steel division reaped revenues totaling AED2.14 billion, surpassing the AED1.81 billion achieved during the corresponding period in 2022. The division's profit for the first three months of 2023 soared to AED137.5 million, in stark contrast to the net profit of AED61.1 million registered during the same period in the previous year, showcasing an impressive increase of 125%.

voda 11 mei 2023 07:58

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All 7 Laborers Succumb to their Injuries in Devastating Steel Mill Blast

The harrowing aftermath of an explosion that rocked a steel mill in Rupganj upazila of Narayanganj in Bangladesh has claimed yet another life. This distressing development marks the demise of all seven injured laborers from Rahima Industrial Complex Limited Steel Mill.

The heart-wrenching incident unfolded on May 4, around 4:00 pm, during a labor-intensive operation involving approximately 15 workers. In a sudden and catastrophic turn of events, an explosion ripped through the furnace, unleashing a torrent of molten iron that engulfed the bodies of these unfortunate individuals.

voda 11 mei 2023 07:58

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Bowim Suffers in 2022 as Cost & Sales Price Pressure Take a Toll

Bowim, Poland's largest listed steel distributor, has reported a significant decline in its first-quarter earnings. According to the firm's preliminary figures, standalone revenue dropped by 9% year-on-year to PLN 563.6 million ($136.2 million), while net profit plummeted by a staggering 95% to PLN 2.2 million.

The company attributes this decline to a persistent downward price correction that has been witnessed since May 2022, primarily due to the ongoing war in Ukraine, escalating energy costs, rampant inflation, and interest rate hikes.

In the entirety of 2022, Bowim experienced a 7% year-on-year decrease in consolidated shipments, amounting to 499,883 metric tons. Sheet shipments witnessed a decline of 4%, reaching 196,413 metric tons, while rebar deliveries plunged by 15% to 64,424 metric tos. Sales of structural steel works remained the largest segment, although it experienced a 2-percentage-point decrease compared to the previous year, settling at 26%. On the other hand, the machine industry saw a 2-percentage-point increase, raising its share to 11%.

voda 11 mei 2023 07:58

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Pennar Group Secures Several Orders Across Multiple Business Verticals

Pennar Group has recently announced that it has secured orders worth INR 682 crores across its various business verticals. The pre-engineered building vertical has received orders from Tata Steel, Hindustan Coca Cola, API Squad Processing, and Zim Laboratories. The Ascent Buildings, USA vertical has also received orders from S&S, J&S, Smithson, and other major contracting companies.

The ICD vertical of Pennar Group has received orders from various leading companies such as Ashok Leyland, Yamaha, Emerson, Endurance, Haldex, Wabco, Tecumseh, SI Airspring, Kone, Fujitech, Schwing Stetter, INEL, Hydraulics, Elkhart, Sicor, Venus, Fleetguard, and Jost. The railways vertical has also received orders from ICF, Rites, Orienteal, Wabtec, SCR, ECR, Titagarh, and Texmaco.

The tubes vertical of Pennar Group has received orders from various renowned companies such as ALF Engineering, Thermax, IFB Automotive, Hindalco, Kirloskar Toyota, Patton International, Interoll India, RSB Transmissions, GI Auto, Scott Industries, Andrew Race Cars, LMW, Rakhoh Industries, Nash Industries, Oriental Electrical, Innova Rubbers, Toyota Boshoku, Coetz Technologies, and Steel Tube Investments.

Lastly, the steel vertical of Pennar Group has also received orders from many big names such as Tata Power, Saint Gobain, Waree, Thermax, VECV, IFB Industries, L G Balakrishnan, Johnson Lifts, Bimetal Bearings, Mudra Fine Blanc, Navayuga Engg, VRL, Miba Drivetech, Contour Steel, JSSL, Prasad Seeds, Amar Raja Infra, PMG Structurals, and JM Frictech.

voda 11 mei 2023 07:59

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US Maintains AD Duty on Steel Pipes from Three Countries

The United States Department of Commerce has affirmed the need to retain the current anti-dumping duty orders on specific welded carbon steel pipes and tubes originating from India, Thailand, and Turkey. This decision was made in light of the anticipated repercussions that would ensue from the revocation of these AD orders, which would likely result in a continuation or recurrence of dumping practices.

The dumping margins identified for India, Thailand, and Turkey were determined to be 87.93%, 15.60%, and 23.12%, respectively. These figures underscore the magnitude of the unfair trade practices employed by the respective countries in relation to welded carbon steel pipes.

The sunset review, spanning the period from 2018 to 2022, aimed to assess the necessity of maintaining AD measures to protect domestic industries from the adverse effects of dumping. The USDOC's findings reaffirm the continued need for robust trade regulations and the enforcement of anti-dumping measures to safeguard the integrity of the steel market and uphold fair competition.

voda 11 mei 2023 07:59

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Steel & Tube Faces Profits Plunge Amidst Economic

New Zealand’s Renowned building products firm Steel & Tube, while displaying commendable resilience amidst a milieu of contracting economic conditions and climatic upheavals over the span of 10 months, anticipates a substantial blow to its earnings and profits. Notwithstanding a marginally superior revenue of N$489 million for the 10-month period culminating in April, the company's profit during the same interval stood at a modest N$12.4 million, in stark contrast to the preceding year's N$24.1 million.

Mr. Mark Malpass, the esteemed chief executive, attributed the prevailing circumstances to the convergence of amplified international pricing, which facilitated revenue growth, and the adverse repercussions arising from elevated input prices and escalating cost pressures, thereby eroding margins.

Consequently, the company now projects its normalised operating earnings for the full fiscal year to range between N$48 million and N$52 million, in juxtaposition to the previous year's more substantial figure of N$66.9 million.

voda 11 mei 2023 07:59

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ITSP Joins EUROMETAL as Associate Member

ITSP GmbH, a venerable entity engaged in the trade and processing of surplus stocks encompassing both prime and non-prime steel, has ascended to the esteemed ranks of associate membership within EUROMETAL.

Since its inception in 2010, ITSP has zealously dealt in a diverse array of rolled steel products, encompassing alloyed and non-alloyed variants, manifesting as flat steel coils, strips, sheets, and plates. Furthermore, their repertoire extends to the realm of round steel, encompassing resplendent bars, tubes, and pipes, as well as the provision of long steel products in the form of rebar, billets, beams, profiles, and the like.
The undeniable allure of ITSP GmbH's offerings lies in the swiftness of their deliveries, bolstered by a commitment to ensuring competitive pricing. By harnessing the potential of existing stockpiles, ITSP GmbH deftly curtails the necessity for fresh steel production, thereby making remarkable strides towards eliminating a staggering 100% of CO2 emissions attributed to these quantities. Additionally, the company's illustrious roster of product specialists diligently undertakes comprehensive product evaluations and quality analyses to cater to the discerning requirements of their esteemed clientele.

Underpinning their diverse product portfolio is an extensive sourcing network, encompassing European mills, prominent traders, major producers, and esteemed steel mills hailing from third countries such as Vietnam, Turkey, Taiwan, Brazil, and India. The safeguarding of these invaluable materials finds solace within meticulously curated, fortified, and climate-controlled warehouses located in Duisburg, Bochum, and Kreuztal, boasting formidable crane capacities of up to metric 100 tons.
To bestow an unmatched degree of convenience upon their esteemed.

voda 11 mei 2023 07:59

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US Maintains AD Duty on Steel Pipes from Four Countries

The United States Department of Commerce has determined that the revocation of existing anti-dumping duty orders on specific circular welded non-alloy steel pipes from Brazil, Mexico, South Korea, and Taiwan, as well as circular welded carbon steel pipes and tubes from Taiwan, would likely result in the continuation or recurrence of dumping practices.

Should the AD orders be lifted, the expected dumping margins for these countries are substantial. Brazil may witness margins of up to 103.38%, Mexico 7.32%, South Korea 1.20%, and Taiwan 27.65% for circular welded non-alloy steel pipes. In the case of Taiwan's circular welded carbon steel pipes and tubes, the projected dumping margin stands at 8.91%.

These findings underscore the imperative of maintaining strong anti-dumping measures to protect domestic industries from the detrimental effects of unfair trade practices. By upholding these AD orders, the USDOC aims to preserve fair competition and safeguard the integrity of the steel market.

voda 11 mei 2023 08:00

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Real coil consumption to rebound from September: Marcegaglia
193 Views

A slight downward price adjustment is seen happening for hot rolled coil and its derivatives, but there will be no drastic demand or price reduction, Antonio Marcegaglia, chairman of Italian re-roller and steelmaker Marcegaglia, told Kallanish on the sidelines of the Made in Steel tradeshow in Milan this week.

While European order intake is now going through a slow patch, particularly from the distribution sector, some service centres and re-rollers managed to achieve positive results in the first quarter. Marcegaglia grew Q1 shipments by 3% compared to Q1 2022 when record results were achieved.

European coil quota restrictions, logistics price increases and the slowing transport value chain, together with coil supply shortages from European producers, have pushed prices up. This has resulted in the current substantial spread between European coil prices and international values.

The gap between values in Europe and Asia is causing buyers to manage their purchases cautiously and adopt a wait-and-see attitude. The slow demand is seen lasting in the short term, with buyers expecting European prices to fall and narrow the gap to Asian quotes.

Chinese futures, as well as the physical market, have seen a positive albeit small rebound this week, which may signify that some Chinese and other Asian steel producers cut output instead of risking overcapacity and declining prices, Marcegaglia observed.

In Europe, the balance between stock management, and supply and demand is creating "mini-cycles", he explained. Until July, Marcegaglia sees order intake continuing to be slow and the destocking process persisting due to uncertainty, but a more robust real demand should resurface in September. Although demand trends are mostly aligned in all European countries, Germany and northern Europe are showing stronger and more stable consumption compared to the more “nervous” and sensitive-to-price-change southern and Eastern European countries, the chairman said.

At present, Asian HRC offers into Italy for service centre material are at below €650/tonne ($713) cfr, with bids at €600/t cfr, while domestic HRC prices are at €810-820/t base delivered, Kallanish notes.

The best-performing downstream products, according to the re-roller, are heavy plate but also pipe for the energy industry. Europe is feeling the global slab supply shortage. Without Ukrainian and Russian slab and plate, European producers are enjoying more space in the market and high prices. Demand for plate in Europe remains strong thanks to infrastructure project investments. In the medium term, strong plate consumption is expected to be driven by European on- and offshore wind turbine projects.

Natalia Capra France

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