Beursonline.nl

voda 24 oktober 2016 16:03

0

Mobarakeh Steel developing higher API grades to serve oil & gas sector

Financial Tribune reported that the priority of Mobarakeh Steel Company is to supply material required by Iran’s downstream manufacturers, while export is of secondary importance, Mr Mahmoud Akbari deputy head of sales at Iran’s largest steel company said.

He said “There has been a rise in domestic demand for steel in the last few months, as a result of government policies. The construction industry is still quiet but other sectors’ consumption was boosted by water projects and recent investments in the oil industry.”

Mr Akbari noted that demand is also expected to grow as a result of gas pipeline projects and developments in the country’s auto industry. He said “Currently, the biggest consumer of MSC products in the country is the pipe and profile industry.”

MSC is developing products to supply Iran’s oil and gas industry and is now able to produce API grades of flat products, including X60, X65 and X70.

Source : Financial Tribune

voda 24 oktober 2016 16:05

0

Mr Wong Chao-tung appointed as new chairman of CSC
Published on Mon, 24 Oct 2016

Taipei Times reported that China Steel Corp president Mr Wong Chao-tung has been appointed as chairman of the company, ending weeks of speculation over who would lead Taiwan’s biggest steelmaker. Executive Yuan spokesman Hsu Kuo-yung said that Mr Wong would formally assume his new post soon.

Mr Wong, 62, was assigned to supervise the building of a cold-rolled steel plate plant in Vietnam six years ago. He returned to Taiwan in January to serve as the chairman of China Ecotek Corp, a subsidiary of China Steel.

After assuming the post of CSC president in June, Mr Wong said he would work with the government’s new southbound policy, which ties in with the company’s aim to reach out to ASEAN and South Asia to improve the competitiveness of Taiwan’s steel industry.

The company is to hold a board meeting on Nov. 8 to sign off on Wong’s appointment.

CSC vice president Liu Jih-gang might be promoted to take over Wong’s position as president and obtain the board’s approval the same day

Source : Taipei Times

Bijlage:

voda 24 oktober 2016 16:09

0

Steel ministry urges banks to guide steel makers out of their stressed state

Bsiness Line reported that with RBI’s schemes for speedy resolution of distressed assets yet to show results, the Steel Ministry has under-scored to banks the urgency of guiding steel units out of their current stressed state. The report quoted a senior public sector banker privy to the development as saying that the ministry wants long-term measures drawn up for turning around the steel sector’s fortunes

According to the Reserve Bank of India, a mapping of the risk profile of select sectors as at end-March showed that the iron and steel industry was not only highly leveraged but also bent by the interest burden. According to the central bank, the iron and steel industry is among the half a dozen industries where the percentage of ‘leveraged weak’ companies is relatively high. The RBI has already warned that such highly leveraged companies with low debt-servicing capability can exert pressure on the already strained asset quality of banks in adverse situations.

A macro stress test of sectoral credit risk by the RBI revealed that in a severe stress scenario, among the select seven sectors, the iron and steel industry (which had the highest gross non-performing assets ratio, GNPA, at 30.4 per cent as of March 2016) could see its GNPA moving up to 33.6 per cent by March 2017.

As per the latest RBI data on industry-wise deployment of gross bank credit, iron and steel sector loans amounted to INR 310,900 crore on August 19, 2016 against INR 311,500 crore as on March 18, 2016.

For speedy resolution of distressed assets, the RBI, had over the last two yearscome up with a variety of schemes by which ‘a more sensible capital structure can be crafted for projects’. These included the 5/25 (flexible structuring of long-term project loans to infrastructure and core industries) scheme, Strategic Debt Restructuring, and the Scheme for Sustainable Structuring of Stressed Assets. But bankers say the effectiveness of each of these schemes in turning around distressed assets through improvements to operational efficiencies and creating the right capital structure is yet to be proven.

Source : Bsiness Line

voda 24 oktober 2016 16:09

0

Indian steel makers facing heat from surge in coking coal price

Business Standard reported that good times for the Indian steel industry, led by the imposition of the minimum import price, anti dumping and safeguard duties, might be getting over soon, as steel production will be impacted by the coking coal price surge in the third and fourth quarters. Steel prices, since the imposition of minimum import price, has increased by INR 6,000, led largely by a recovery in international prices, but the sharp increase in coking prices is now threatening to wipe out the gains.

Since July, coking coal spot prices have increased from USD 90 a tonne to USD 245 a tonne and 40 per cent of India’s current steel production of 90 million tonne that uses the blast furnace technology will be affected. That includes all major players, Tata Steel, SAIL, JSPL, RINL, JSW Steel, Bhushan Steel and Essar Steel, to an extent.

JSW Steel Director for Commercial & Marketing, Mr Jayant Acharya, said “This is a serious concern for the industry. Coking coal prices have been moving up since July. Over the next two-three months, this increase will have to be passed on and it will have to be significant each month. In the next two to three months, this increase will reflect in steel prices.”

The price surge has led debt-stressed companies like Bhushan Steel to contemplate restarting its direct reduced iron based plant that doesn't use coking coal. Typically, the cost of production in a DRI-based plant is higher by Rs 4,000 a tonne vis-a-vis the blast furnace technology because it is a power-intensive technology. But if the additional cost on account of coking coal is Rs 6,000 a tonne, it might make sense if the surge is going to continue.

But till the companies are able to pass on the price to consumers, margins will be under pressure. The increase in earnings before interest, taxes, depreciation, and amortisation levels after the imposition of MIP-led lenders to appropriate 5-15 per cent from each sale proceeds for at least part-interest realisation.

Source : Business Standard

voda 24 oktober 2016 16:11

0

Chinese state owned steel giants on track to achieve 2016 capacity cut target

Xinhua reported that China's centrally administered state-owned enterprises will be able to hit their annual steel capacity reduction goal ahead of schedule. Mr Li Bing head of restructuring department with the State-owned Assets Supervision and Administration Commission said that by the end of October, central SOEs in the steel industry are expected to reduce capacity by at least 7.19 million tonnes combined, the official target assigned by the government for this year.

Mr Li told a forum “China has five central SOEs involved in steel production, whose crude steel capacity reached 138 million tonnes at the end of last year, accounting for 12.2 percent of the national total. These firms will cut their crude steel capacity by a total of 21.37 million tonnes in three years starting from 2016, according to government plans.”

He said “Baosteel Group and Wuhan Steel Group completed their targeted capacity cuts for this year. Anshan Steel Group is on track to meet its target on time.”

The targets are part of a wider 45 million-tonne reduction target for the country's steel sector in 2016.

Cutting overcapacity is high on the central government's reform agenda as excess capacity in sectors such as steel and coal have weighed on the country's overall economic performance. China has shut down steel plants with total capacity of over 90 million tonnes over the past five years and plans to reduce output by an additional 100 million to 150 million tonnes by 2020

By the end of July, China had slashed its steel capacity by 13 million tonnes, about 47 percent of the planned cuts for the whole year.
Efforts picked up speed notably in August and September, largely due to pressure from the central government.

Source : Xinhua

voda 24 oktober 2016 16:12

0

Vietnamese steel industry investing in new capacities

Nikkei reported that Vietnam's two largest steelmakers are readying to make multibillion-dollar capacity investments as the Southeast Asian nation tries to build up a domestic counterweight to its high dependence on Chinese steel even though a Taiwanese-led project by Formosa Plastics Group to start up Vietnam's first blast furnace has been set back by a toxic waste spill.

Hoa Sen Group plans to spend USD 10 billion on production facilities in southern Vietnam's Ninh Thuan, taking advantage of the province's deep-water ports to import raw materials and export finished steel. Construction will begin next year. Expected to go into operation in stages starting in 2019, the additional capacity is forecast to more than quadruple Hoa Sen's total to 16 million tonnes a year in 2031.

Hoa Phat Group plans to build a USD 2.7 billion steelworks in the Dung Quat Economic Zone of Quang Ngai Province, on a site that a Taiwanese steelmaker had picked for a project that it proved unable to finance. Hoa Phat aims to start the new steelworks as soon as 2020. Its 4 million tonnes of annual capacity will lift the group total 130%. Hoa Phat is also working on a $170 million steel plate mill in Hung Yen Province, near here. That facility, with a capacity of 400,000 tonnes, is supposed to start production in 2018

Vietnam's demand for steel is rising as the economy grows at a nearly 7% clip, one of the fastest paces in Southeast Asia. Imports satisfy nearly 60% of this demand. Steel imports jumped 33% last year to 15.7 million tons, 61% of which came from China.

Another factor in the Vietnamese steelmakers' planned investments is the trouble surrounding Formosa Plastics Group's blast furnace project in Ha Tinh Province. The Taiwanese company was hit with a $500 million fine at the end of June for pollution from the site . Expected to start up as early as this year, that facility will have a capacity of 22.5 million tonnes at full operation, making it the core of the country's steel industry. "Blowing in," as the the initial lighting of a blast furnace is called, was supposed to take place on June 25.

Source : Nikkei

voda 24 oktober 2016 16:22

0

Egypt production of steel reached 4.801 million tonnes in 8 months

Egypt's total production of steel reached 4.801 million tonnes during the first eight months of 2016 versus 4.750 million tonnes at the same period of 2015.

Mr Mohammed Hanafi executive director of metallurgical industries chamber at Federation of Egyptian Industries asserted that steel firms produce around 700,000 tonnes monthly.

The official pointed out that the expectations about the raise in production volume depend on providing dollar for companies to import raw materials as the chamber has received a lot of complains about the shortage in dollar liquidity.

Source : Amwalalghad

Bijlage:

voda 24 oktober 2016 16:24

0

Metinvest postpones deadline of eurobond restructuring closure until Dec 31

Metinvest international vertically integrated mining and steel group has postponed the deadline for closing the deal on restructuring the eurobonds of Metinvest B.V. parent company (the Netherlands) from November 30, 2016 until December 31, 2016.

According to a report by the issuer on the website of the Irish Stock Exchange, the company is holding final negotiations for signing an agreement on debt restructuring. It is expected that the deal, which will start the restructuring process, will be officially announced before November 30, and then some more time will be required to close the deal. For this purpose the deadline of the deal closure will be considered on December 31, 2016.

As reported, Metinvest in late December 2015 addressed to eurobonds holders with the request to approve the introduction until May 27, 2016 of a moratorium on payments on securities, during which it planned to reach an agreement on their restructuring, as well as restructuring pre-export financing.

The agreement concerns eurobonds with the maturity terms of up to 2016, 2017 and 2018, as well as pre-export financing worth $1.07 billion.
Source : Inter Fax

voda 24 oktober 2016 16:25

0

BlackRock acquires POSCO and Shinhan stakes

The world’s largest asset management company BlockRock has acquired 5.13 percent stake each in POSCO and Shinhan Financial Group, according to Financial Supervisory Service’s data on Oct. 20.

BlackRock Fund Advisors and 14 others in special relationship reported that they have newly acquired 4,415,820 shares of POSCO and 24,320,723 shares of Shinhan Financial Group.

Source : Korea Herald

voda 24 oktober 2016 16:26

0

EU 28 - Crude steel production in 9 months of 2016
Published on Mon, 24 Oct 2016

EU 28 - Crude steel production in 9 months of 2016

Source : worldsteel

Bijlage:

voda 24 oktober 2016 16:27

0

ArcelorMittal Galati celebrates 50th anniversary

Published on Mon, 24 Oct 2016

On the 50th anniversary of ArelorMittal Galati, Mr LN Mittal wrote that “October 2016 represents an important milestone in the history of ArcelorMittal Galati.

Source : Strategic Research Institute

Bijlage:

voda 25 oktober 2016 17:24

0

Hogere output Anglo American

Alleen koperproductie lager in derde kwartaal.

(ABM FN-Dow Jones) Anglo American heeft in het derde kwartaal van 2016 vrijwel over de gehele linie meer geproduceerd, waarbij alleen de output van koper daalde. Dit bleek dinsdag uit het productierapport van de Britse mijnbouwer.

De productie van diamanten, de grootste onderliggende drijfveer voor groei in de eerste zes maanden van het jaar, steeg in het derde kwartaal met 4 procent tot 6,3 miljoen karaat op jaarbasis. De output van ijzererts nam met 14 procent toe tot 16,3 miljoen ton, na de herstructurering van de Sishen-mijn in Zuid-Afrika en het opvoeren van de productie bij de Braziliaanse mijn Minas Rios. Verder steeg de productie van platina met 1 procent op jaarbasis.

De koperproductie vormde een uitzondering, met een productiedaling van 9 procent op jaarbasis, onder meer vanwege de impact van stakingen bij de Chileense mijnen Los Bronces en El Soldado. Collahuasi leverde daarentegen een "sterke" prestatie.

Outlook

Anglo American herhaalde dinsdag de outlook voor heel het jaar voor de productie van platina, koper en nikkel. De productie van ijzererts bij de Zuid-Afrikaanse Kolomela-mijn zal waarschijnlijk iets hoger liggen dan de output van 12 miljoen ton die eerder werd verwacht. De productie van metallurgische kolen komt waarschijnlijk lager uit dan eerder voorzien, op 20,5 miljoen tot 21,5 miljoen ton. Aanvankelijk rekende Anglo American nog op 21,0 miljoen tot 22,0 miljoen ton.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

Copyright ABM Financial News. All rights reserved

(END) Dow Jones Newswires

voda 25 oktober 2016 20:07

0

JISF regrets Canadian AD imposition on welded large dia steel pipes

Japan Iron & Steel Fedration announced that during the anti-dumping investigation by CITT, the Japanese steel industry stated that exports of Welded Large Diameter Carbon and Alloy Steel Line Pipes from Japan have caused no injury to the domestic steel industry in Canada, on October 20, the Canadian International Trade Tribunal determined as a result of an anti-dumping investigation that Welded Large Diameter Carbon and Alloy Steel Line Pipes exported from Japan have caused injury to the domestic steel industry in Canada.

Source : Strategic Research Institute

voda 25 oktober 2016 20:07

0

Saving UK steel has fallen down agenda after Brexit - Report

BBC reported that according to a Welsh Assembly committee, efforts to solve the steel industry crisis in Wales are in danger of losing momentum, Members of the economy committee said the steel industry had fallen down the agenda following the Brexit vote. AMs on the committee have now written to Prime Minister Theresa May calling for swift action to secure a stable and sustainable future for steel production in Wales and the wider UK.

Mr Russell George, chairman of the economy, infrastructure and skills committee, said "When Tata announced it was looking to sell its steel operations earlier this year, there was a groundswell of opinion that something must be done to safeguard jobs. A coordinated approach involving all sides, including the UK and Welsh governments, was quickly set up to consider what support could be offered. The evidence we heard during our meeting suggests that that momentum is in danger of being lost, and that since the Brexit referendum the steel industry crisis has fallen down the agenda. But the crisis is still very real and there are thousands of people across Wales wondering and worrying about what the futures holds for them and their families."

The UK government said last week that it was focused on working with the industry. A spokesman said: "As we said in our evidence to the committee, a great deal of work has been done to support the steel industry including tackling the dumping of cheap imports into the EU and buying British. The recent reopening of the plate mills in Scotland and the British Steel site at Scunthorpe, which has since hired more people, shows the sector can remain competitive with the right investment."

Source : BBC

voda 25 oktober 2016 20:08

0

EAF explosion kills one at Sentuo Steel in Ghana

Ghana Web reported that one person was reported dead and seven others in critical condition following an explosion Saturday night at Sentuo Steel Ltd, a Chinese steel manufacturing company in the Tema Heavy Industrial Area I Ghana. The deceased was said to be among eight workers, including a Chinese national, reportedly caught in a blaze after the steel smelting equipment they were working with exploded, splashing the hot liquid on them.

Some of the workers who spoke to DAILY GUIDE indicated that the incident occurred when they went on a night shift. According to them, the explosion happened in the arc furnace where the workers were busily melting metals to manufacture iron products.

Source : Ghana Web

voda 25 oktober 2016 20:09

0

Government plans to hand over management of stressed assets in power, steel and shipyards to PSUs

Business Line reported that Indian government seems to have zeroed in on a new solution to tackle the issue of stressed assets in power, steel and shipyards. It has now decided to allow, in some cases, banks to take over some stressed assets and hand these over to established public sector undertakings for an interim period. A management team of established PSUs in certain sectors will operate some of the plants and facilities of the stressed assets.

Briefing reporters Finance Minister Arun Jaitley said banks would invoke their contract, convert debt to equity and appoint a management team. He told “The concerned secretaries have been asked to coordinate with the banks. The measure will be taken immediately. Today, one of the problems is when stressed assets are put out for auction, there are no takers. Now takers will be created.”

Monday’s meeting was attended by officers of the Department of Financial Services, Department of Economic Affairs, and the Prime Minister’s Office as well as chairpersons of important banks. Representatives of three departments, power, steel and shipping, also attended the meeting as well as Chairman and Managing Directors of three important PSUs: NTPC, SAIL and Cochin Shipyard.

Source : Business Line

voda 25 oktober 2016 20:10

0

BaoSteel posts biggest profit in Q3 since 2012

Bloomberg reported that the listed unit of Baosteel Group Corp swung to its largest profit in more than four years in the third quarter, boosted by a rebound in prices in 2016. Baoshan Iron & Steel Co posted net income of CNY 2.13 billion (USD 315 million), from a loss of about CNY 920 million a year ago, best quarterly performance since 2012. Its revenue surged by 34% YoY to CNY 55.5 billion.

It also said it expects a 600-800% YoY surge in 2016 net profit.

Baoshan Steel said in the statement “The steel market on the whole picked up in the third quarter.But the industry situation of supply exceeding demand still persists.”

Source : Bloomberg

Bijlage:

voda 25 oktober 2016 20:10

0

UK steel union Unite seeks guarantees from Mr Ratan Tata

Buiness Line reported that one of the largest unions representing Tata Steel employees in the UK has said it will be looking for reassurances from Mr Ratan Tata, the new interim Chair of Tata Sons.

Unite national officer Mr Harish Patel said “Unite will be seeking guarantees about their jobs and pensions from Tata’s new interim chairman, who needs to act to bring certainty to the steelmaking business along with the promise that Tata will continue to act as a responsible employer. Steelworkers at Tata UK are world class and have been making some of the best steel in the world against a backdrop of continued uncertainty.”

Tata Steel is engaged in talks with ThyssenKrupp over the potential merger of its main strip steel business.

Source : Buiness Line

voda 25 oktober 2016 20:11

0

China skips Paris talks on tackling global steel glut

Nikkei reported that China on Friday missed a meeting in Paris meant to get the ball rolling on a global forum for addressing the world's steel glut, spurring speculation that the country is trying to delay the effort. Japan, US, European countries and India were among those that attended. China reportedly gave advance notice of its absence.

At the latest Group of 20 summit, chaired by China in September, member nations called for creation of the forum. The OECD's steel committee, which includes China, also signed off on the effort immediately after the Hangzhou summit. Japan, US and Europe, who want to kick off the forum soon, are said to be at odds with China, which remains cautious on the initiative.

China is said to have crude steel production capacity of about 1.2 billion tons annually, with at least 400 million tons of that seen as surplus. The Chinese government aims to reduce this by 100 million to 150 million tons by 2020 but output in the January-September period did not shrink due in part to a rise in steel prices.

Source : Nikkei

voda 25 oktober 2016 20:12

0

US DOC determines dumping duties on steel pipe from Pakistan, Oman, UAE & Vietnam

The US Department of Commerce has issued an affirmative final determination in its antidumping investigation of circular welded carbon-quality steel pipe from Oman, Pakistan, the UAE and Vietnam, and its countervailing duty investigation of Pakistani output.

Source : Strategic Research Institute

Vertraagd	7 mrt 2025 17:36
Koers	30,480
Verschil	-1,690 (-5,25%)
Hoog	31,770
Laag	30,480
Volume	4.319.928
Volume gemiddeld	2.986.909
Volume gisteren	8.534.283

09 mrt	ArcelorMittal, Air France-KLM en bank...
03 mrt	Video: beursexperts somber gestemd vo...
02 mrt	Experts somber gestemd voor maart maa...	8
11 feb	Von der Leyen verwerpt Amerikaanse im...	2
10 feb	Trump dreigt met importheffingen op s...
09 feb	ArcelorMittal en Aperam weekwinnaars
07 feb	Deutsche Bank verhoogt koersdoel Arce...
06 feb	Beursblik: ArcelorMittal overtreft ve...
06 feb	AEX opent waarschijnlijk hoger. Let o...	2
06 feb	ArcelorMittal ziet verlies afnemen	1

Arcelor Mittal « Terug naar discussie overzicht

Nieuws en info hier plaatsen (deel 4)

Meedoen aan de discussie?

Direct naar Forum

Detail

ArcelorMittal nieuws meer