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voda 9 juni 2017 16:12

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India is a bright spot for global steel output growth - BMI Research

PTI reported that according to a report by BMI Research, a Fitch group company, India is seen as a bright spot for the global steel production growth on account of the government's push to augment capacity and demand from the construction, automotive and infra sectors.

It said "The government has been spearheading the push towards the boost in steel production capacity, with upgrades being made to existing steel mills and state-owned companies stepping in to build new steel plants. India will be the global steel production growth bright spot as demand from the construction, automotive and infrastructure industries continue to accelerate.”

BMI said "We forecast India's steel output to average annual growth of 8.9% during 2017-2021, higher than 2.9% during 2012-2016. India's steel output will grow from 88.4 million tonnes in 2017 to 128.6 million tonnes by 2021.”

It added “India’s share of global steel production will accelerate from 5.4% in 2017 to 7.7% in 2021.”

Source : PTI

voda 9 juni 2017 16:14

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US steel national security study to be completed soon - Mr Ross

US Commerce Secretary Mr Wilbur Ross said on Thursday that a national security review of the US steel industry will be completed very shortly and will seek to protect the interests of both domestic steel producers and consumers. Mr Ross told a Senate Appropriations subcommittee hearing that he believes there is a genuine national security issue that must be considered in this case.

He said “The steel review under a Cold War era trade law would result in a thoughtful set of recommendations for Trump to consider for action.”

Mr Ross identified three kinds of actions that could be recommended

1. Imposing tariffs above the current, country specific anti dumping and anti subsidy duties on steel products

2. Imposing quotas limiting the volume of steel imports

3. A hybrid "tariff rate quota" option that would include quotas on specific products with new tariffs for imports above those levels.

He said “Choosing the latter option would help mitigate concerns over steel price inflation from tariffs.”

This is the second major signal in two days that the Mr Trump administration is preparing new steel import restrictions. In a speech in Cincinnati on Wednesday, Mr Trump said "Wait until you see what I'm going to do for steel and for your steel companies. We're going to stop the dumping, and stop all of these wonderful other countries from coming in and killing our companies and our workers. You'll be seeing that very soon."

Source : Reuters

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voda 9 juni 2017 16:15

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Nippon Steel & Sumitomo Metal loses bid to protect former Usiminas CEO from lawsuit

Reuters reported that a Brazilian judge has ruled against Nippon Steel & Sumitomo Metal Corp's request to dismiss a lawsuit by Brazil's Usinas Siderúrgicas de Minas Gerais SA against a Nippon Steel-backed executive, deepening a dispute over control of the steelmaker.

In a Thursday securities filing, the steelmaker known as Usiminas said the judge's decision relates to Nippon Steel's claims that an Usiminas board decision to remove the executive, former Chief Executive Officer Rômel de Souza, was illegal.

The board removed Souza in March after board members accused him of breaching company policy during negotiations with a subsidiary last year.

Source : Reuters

voda 9 juni 2017 16:20

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Charter Steel to enter SBQ straight bar market with Primetals Technologies upgrade
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Complete mechatronic package supplied with electrics and automation
Unique stepless-reform and coil transfer technology works with existing compactor
Upgrade allows for rapid response to the varying demands of Charter Steel´s customers

Charter Steel has selected Primetals Technologies to supply the cooling bed, cold shear, abrasive saws, stackers, banders, bar bundling and banding machines necessary to support the steelmaker's new cut-to-length, Special Bar Quality (SBQ) line, part of a previously announced major expansion and upgrade for its steelmaking facilities in Cleveland, Ohio, USA. Charter Steel intends to leverage its advanced carbon and alloy steelmaking capabilities in Cleveland to introduce an engineered bar product to new and existing customers in sizes ranging from 19 to 83 mm (.75 to 3.25 inches) in diameter and bar lengths from 3.7 to 15.3 meters (12 to 50 feet). The upgrade allows for rapid response to the varying demands of Charter Steel´s customers. The new straight-bar and upgraded coil capability will be operational in the second half of 2018.

For the upgrading of the company's existing coiled rod and bar line in Cleveland, Primetals Technologies will supply new troughs, shears, water boxes and switches along with Primetals Technologies' unique stepless-reform and coil transfer technology for efficiency gains. The coil handling equipment will employ both vertical and horizontal pallet systems to improve coil package. The contract also includes a complete mechatronic package with electrics and automation for the new equipment.

Primetals Technologies has had a strong and successful working partnership with Charter Steel for many years and was selected to supply equipment that supported design criteria to enhance production flexibility, allowing Charter Steel to respond rapidly to the varying demands of its customers.

Charter Steel, a division of Charter Manufacturing Company, Inc., produces highly engineered steels for sophisticated applications utilizing aerospace, bearing, cold heading, free-machining, specialty spring and high carbon quality steels. It operates a steelmaking facility in Saukville, Wisconsin, USA in addition to the Cleveland, Ohio facility.

Straight bar on cooling bed. Primetals Technologies will supply upgrade equipment for Charter Steel Cleveland to enter SBQ straight bar market.

www.primetals.com/en/PressAndMedia/Pa...

voda 9 juni 2017 16:27

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Essar Steel expects restructuring approval by June end

Bloomberg reported that Essar Steel India Ltd expects lenders to decide on its debt restructuring plans by the end of this month as the company’s prospects brighten on increased output and an improved domestic demand outlook. Mr Shivramkrishnan Hariharan director commercial said in an interview “We are in discussions with lenders and the entire restructuring package should be done by June-end “We should be back to our normal operational routine without having the baggage of the stressed assets issue.”

He said “We are just getting over the hump and once the restructuring issues are resolved, Essar Steel will get back to the drawing board to see how it can join the India steel story.”

He told “Production at its plants is forecast to climb to 6.5 million tonnes in the financial year started April 1 from 5.6 million tonnes last year.”

The mill, which has about INR 400 billion (USD 6.2 billion) of debt, according to the company, had been hurt by weak demand, reduced gas supply and lower capacity use at its plants.

Essar Steel has a mill in Hazira in Gujarat with annual capacity of 10 million tonens and plans to commission a 6 million tonne pellet plant in Odisha by first quarter of 2018.

Source : Bloomberg

voda 9 juni 2017 16:32

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Materials Processing Institute strengthens ties with steel giant ThyssenKrupp

Insider Media reported that the Materials Processing Institute in Middlesbrough has played host to one of Europe's largest steel producers as part of plans to develop global relationships. Professor Hans Ferkel, Dr Jens-Ulrik Becker and Dr Stefan Petry from German multinational conglomerate Thyssenkrupp visited the Teesside campus for a tour of its facilities and to discuss potential collaborative opportunities.

Mr Chris McDonald, chief executive of the MPI, said "We have enjoyed longstanding working relationships with many of the world's leading steel producers and this latest visit highlights our intentions to engage with and support industry leaders with our expertise. It was a huge honour to welcome Thyssenkrupp to our facilities, as we look to develop international ties and collaborative opportunities with global partners, as the industry, as a whole, transforms. It is through continued investment in our capability and facility that has allowed us to be at the forefront of technological advances and improvements in the metallurgy sectors, which has allowed us to develop relations with industry leads, such as Thyssenkrupp."

Source : Insider Media

voda 9 juni 2017 16:33

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Indian steel sector is ripe for re rating - CLSA

Economic Times reported that CLSA, a brokerage and investment firm, said that it sees potential for Indian steel companies valuation multiples to re rate given supporting factors such as confirmation of anti dumping duties for the next four years and improving demand outlook.

CLSA in a note to clients said "Confirmation of anti dumping duties for the next four years has put a floor to Indian steel prices. Indian steel demand supply is on the cusp of a multi year tightening phase given lack of new capacity additions.”

It said "Steel demand outlook is also improving with the government's affordable housing program and likely start of an investment cycle by FY19."

Source : Economic Times

voda 9 juni 2017 16:42

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BHP Billiton and Rio Tinto eye ghost controlled ships and trains

Biz News reported that talk about Fourth Industrial Revolution Technologies (4IR) and the rise of automation has existed in economic circles for some time now but it’s clear that it will soon be actioned. Robot controlled ‘ghost’ ships and driverless trains are part of the mix for mining giants BHP Billiton and Rio Tinto when it comes to driving down future costs.

Bloomberg reported that BHP which charters about 1,500 voyages a year to transport its iron ore, copper and coal is eyeing crew-less ships and possible annual savings of at least USD 86 billion.

Bloomberg also stated that Rio Tinto, which already uses a fleet of about 76 driverless trucks, will deploy autonomous trains in Western Australia by the end of next year.

Source : Biz News

voda 9 juni 2017 16:56

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US Steel monitoring Burns Waterway and Lake Michigan following hexavalent chromium spill
Published on Fri, 09 Jun 2017

NWI Times reported that US Steel is continuing to monitor the waters of the Burns Waterway and Lake Michigan following a spill of hexavalent chromium on April 11.

Company officials appeared before the Portage City Council Tuesday night after officials here made repeated requests for an explanation of the spill and why the city was not immediately contacted when the incident happened.

Spokesperson Meghan Cox said the company sent representatives Tuesday after an exchange of emails. While city officials had requested the company send representatives last month and blasted the company for not doing so, Cox said the company did not have the answers at that time.

Council president Mr Mark Oprisko said they felt it was important, when the waterway within the city is threatened, to get answers from the company. He said that "Our intention was not to beat you up.”

Mr Ron Kostyo general manager operations - automotive, told council members and residents that the spill came from a failed expansion joint in a wastewater pipe from the tin and tin free plating process. The operation was shut down immediately when the spill was discovered, necessary notifications were made and remediation began. He said that "We worked collaboratively and with transparency with the government agencies.”

Mr Joe Hanning director of environmental for the company's local mills, said that there are eight expansion joints in the operations. The one which failed has been replaced along with another. The other six will also be replaced. He said they are being inspected every four hours.

He apologized that the response plan chain of notification did not expand to Portage and told officials that has been corrected in case there were ever another incident.

Mr Hanning further said the company has entered into a long term plan with the US EPA to make sure there is no long term impact from the April 11 spill. Water tests are taken on a weekly basis with results given to the EPA and National Park Service. He said the latest tests indicated no chromium in the water. He added that the chemical dissolves and disburses in water and becomes diluted.

Source : NWI Times

voda 9 juni 2017 16:58

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Update on Iranian production in 2 months period

Financial Tribune reported that iron ore concentrate had the biggest share in Iran’s mineral production during the two month period with 6.053 million tonnes, registering a 43.27% growth year on year.

Golgohar Mining and Industrial Complex accounted for 2.14 million tonne of the total output, followed by Chadormalu Mining and Industrial Complex with 1.65 million tonne, Iran Central Iron Ore Company with 718,802 tonne, Middle East Mines and Mining Industries Development Holding Company with 538,633 tonne, Goharzamin Iron Ore Company with 671,367 tonne and Opal Parsian Sangan with 335,579 tonne.

The above companies posted double-digit production growth rates with the exception of MIDHCO, which posted a 6.32% drop YOY. Golgohar registered the highest growth with a 55.09% upsurge in output.

Production of granulated iron stood at 1.01 million tonne, down 6.34%. Iran Central Iron Ore Company was the biggest producer with 332,880 tonne, followed by Jalalabad Iron Ore Company with 225,359 tonne, Iran Central Plateau Iron Ore Company with 170,776 tonne, Sangan Iron Ore Complex with 153,624 tonne, Chadormalu with 73,050 tonne, and Mishdavan Iron Ore Company with 60,289 tonne.

Pellet had the second largest share with a total output of 5.16 million tonne, up 20.39% YOY. Golgohar was the largest producer with 1.76 million tonne, followed by Mobarakeh Steel Company with 1.232 million tonne, Khouzestan Steel Company with 1.038 million tonne, Chadormalu with 639,839 tonne and MIDHCO with 489,496 tonne.

Direct-reduced iron came next with 3.244 million tonne in output, showing a 13.52% rise YOY. Mobarakeh had the lion’s share, producing 1.35 million tonne, followed by KSC with 718,477 tonne, Hormozgan Steel Company with 299,878 tonne, Saba Steel Complex with 218,476 tonne, South Kaveh Steel Company with 205,450 tonne, Khorasan Steel Company with 173,657 tonne, MIDHCO with 142,801 tonne and Ghadir Iron and Steel Company with 135,286 tonne.

Downstream Steel Sector
Semi-finished steel had the fourth largest share among mineral products produced during the period. Iranian steel mills produced 2.742 million tonne of slab, bloom, billet and ingot, up 9.58% YOY.

Mobarakeh Steel Company was at the forefront with 1.501 million tonne. KSC followed with 638,044 tonne, Esfahan Steel Company with 346,066 tonne, Khorasan Steel Company with 92,149 tonne, Iran Alloy Steel Company with 75,251 tonne, South Kaveh Steel Company with 70,826 tonne and Iran National Steel Industries Group with 18,295 tonne.

A total of 1.73 million tonne of steel products, including hot- and cold-rolled coils, rebar, beams, pipes, wide and galvanized sheets were produced during the two months, up 7.13% YOY.

MSC and its subsidiary Saba Steel had the largest share of production with 1.017 million tonne, followed by ESCO with 344,435 tonne, Oxin Steel Company with 110,158 tonne, Khorasan Steel Company with 78,875 tonne, IASCO with 49,038 tonne, INSIG with 47,244 tonne, Chaharmahal-Bakhtiari Automotive Sheet Company with 37,684 tonne, Ahwaz Rolling and Pipe Mills Company with 31,253 tonne and Azarbaijan Steel Company with 15,032 tonne.

Source : Financial Tribune

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voda 9 juni 2017 17:14

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Hyundai Heavy awarded deal to build 3 iron ore carriers

Yonhap quoted a South Korean shipping firm as saying that it has placed an order with Hyundai Heavy Industries Co., a major shipyard here, to build three very large iron ore carriers. The terms of the deal were not disclosed.

Polaris Shipping Co., a mid-sized shipping firm, said that the 325,000-ton iron ore carriers will replace some of its aged ships. A cargo ship operated by Polaris Shipping sank in the Atlantic Ocean in April this year with its crew still missing.

Source : Yonhap

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voda 12 juni 2017 16:31

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India moves to WTO for US not complying verdict on steel duty

Financial Express reported that India has moved World Trade Organization against the US as it has not yet complied with the rulings of the multi-lateral body related to imposition of high import duty on certain Indian steel products. In December 2014, the World Trade Organization had ruled against the US imposing high duty on imports of certain Indian steel products. The WTO’s appellate body had ruled that the high duty imposed by the US on the certain Indian steel imports was ‘inconsistent’ with various provisions of the Agreement on Subsidies and Countervailing Measures.

The WTO said in a statement that “India has requested WTO dispute consultations with the US to address US compliance with an earlier WTO ruling concerning US countervailing duties on imports of carbon steel products from India.”

A government official said that “India has sought consultation with the US for compliance of the WTO’s rulings. If the issue would not be resolved, then India will approach the WTO’s compliance panel.”

The US will have to amend its domestic norms to comply with the WTO’s verdict on countervailing duties on imports of hot-rolled carbon steel products from India. Earlier, the US had dragged India to the arbitration panel of the WTO alleging that India had failed to remove trade restrictions on American poultry.

Source : Financial Express

voda 12 juni 2017 16:35

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China condemns EU over new tariffs on HR steel imports

China has condemned the European Commission for imposing new anti-dumping duties on its steel products, accusing the EU’s executive of making China an industrial scapegoat. Commerce ministry official Mr Wang Hejun said in a statement on Friday “The European Commission ignores the fact that China’s steel exports to Europe clearly declined in 2016,

Source : Strategic Research Institute

voda 12 juni 2017 16:36

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Canada launches investigation into line pipe imports from South Korea

The Canada Border Services Agency announced that it has launched an investigation into whether or not certain carbon and alloy steel line pipe from the Republic of Korea are being sold at unfair prices into the Canadian market.
Source : Strategic Research Institute

voda 12 juni 2017 16:36

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Mexico imposes anti-dumping tariffs on steel firms from Taiwan & China

Mexico has slapped anti-dumping tariffs on certain flat coated steel exporters from Taiwan and China after the Latin American country concluded that these firms sold their products at unfairly low prices in its market. Mexico’s Ministry of Economic Affairs made the announcement last week in a final ruling after an anti-dumping investigation, deciding to impose duties on imports of flat coated steel products.

Source : Strategic Research Institute

voda 12 juni 2017 16:37

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SAIL’s Kandrori rebar unit in HP to start in few months

PTI reported that a steel processing unit in Himachal Pradesh will be operationalized in few months. India’s Steel Minister Chaudhary Birender Singh said “The SPU project in Kangra in Himachal Pradesh will be operationalized within the next couple of months. This involves an investment of around INR 76 crore.”

Kandrori steel plant of Steel Authority of India Ltd in Kangra district will produce TMT bars approximately 100,000 tonne per annum, he said.

The plant was announced when Mr Virbhadra Singh was the Union Minister for Steel. Its foundation stone was laid by then Union Minister for Steel Mr Ram Vilas Paswan in 2009. However, the plant could not start production despite an investment of about Rs 70 crore due to objection from the Army. Army officials objected to the presence of steel plant near their ordinance depot in Kandrori. The objection from the Army was cleared in 2015. Even after that, over two years were consumed in clearing other bottlenecks.

Source : PTI

voda 12 juni 2017 16:37

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Ukrainian steel is not threat for EU producers - Ms Mykolska

112 reported that one of the tasks of the Ukrainian Government is to prove for EU market that Ukrainian metallurgic production is not the threat for the EU. Ms Natalia Mykolska deputy Minister of Economics claimed this at 112 Ukraine airing. She commented on EU anti dumping investigation towards Ukrainian steel production.

Ms Mykolska said that “Our aim as the government is to show to European Commission two important things. Ukrainian export to EU is not the threat to their national producers. Moreover, our producers are the part of the so-called value added chain. Our metal-roll is used by the European companies to produce the end product and export it, including the third-countries markets.”

According to her, Ukrainian producers act honestly on the EU markets and there is no dumping. She said that “The second important thing is that we do not dump that our Ukrainian companies act honestly on the EU markets. And it is very important that we want to make up the free trade with EU and we should act like well-behaved partner.”

EU provides anti-dumping investigation towards Ukrainian metal production, particularly hot-rolled coil and heavy plate.

Source : 112 International

voda 12 juni 2017 16:38

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Krakatau Nippon Steel Sumikin galvanized plant to start in September

The Jakarta Post reported that Indonesia’s Industry Ministry has said PT Krakatau Nippon Steel Sumikin, a joint venture between Krakatau Steel and Nippon Steel & Sumitomo Metal Corporation, will start operating its galvanized steel plant at Cilegon Banten in September.

The ministry’s director general for metal, machinery, transportation equipment and electronics industries, Mr I Gusti Putu Suryawirawan, said on Friday that the plant would have an annual production capacity of around 500,000 tonnes.

Mr Putu spoke to journalists after accompanying Industry Minister Airlangga Hartarto in a meeting with managing director Mr Yoichi Furuta of Nippon Steel & Sumitomo Metal Corporation in Jakarta.

KNSS, established in late 2012, is a joint venture between NSSMC and state-owned steel maker PT Krakatau Steel.

Investment for the plant, which is expected to employ at least 300 people, is estimated at USD 400 million.

Source : The Jakarta Post

voda 12 juni 2017 16:39

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Latin America receives 15% more steel imports from China in Jan-Apr’17

Latin American steel association Alacero announced during January to April 2017, China shipped 2.6 million tonne of steel to Latin America, which 2.3 million tonne were finished steel

Source : Strategic Research Institute

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voda 12 juni 2017 16:41

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Indian steel minister pushes for permanent CMD for NMDC

Financial Express reported that peeved at inordinate delay in the selection of a permanent chairman and managing director for state run miner NMDC, steel minister Mr Birender Singh has requested the appointments committee of the Cabinet to speed up the process or depute a senior IAS officer to run the firm on a full-time basis in the interim.

Mr Singh told FE in an interview that “I don’t want things to be prolonged to such an extent where it becomes detrimental to the interest of the PSU. I made a request to the appointing authority, asking them to take a decision in such cases speedily, and if there is no proper selection, at least I should be provided with someone of the rank of additional secretary to run PSUs like NMDC.”

He added that “For the time being, if things take time, let’s have a senior administrative officer, but not on additional charge.”

The CMD’s position at the iron ore miner has been lying vacant for around 18 months now since the retirement of incumbent Narendra Kothari in December 15, on attaining the age of superannuation. The Public Enterprises Selection Board had recommended the name of the company’s technical director Mr NK Nanda for the top post in September 2016.

Source : Financial Express

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