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1. voda 14 augustus 2017 16:42

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   Metalloinvest declares dividends
   
   Metalloinvest announced that the Company will pay a dividend following its results in the first half of 2017.
   
   Source : Strategic Research Institute
2. voda 14 augustus 2017 16:44

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   Chelsea owner gets another GBP 100 million from Evraz
   
   Daily Nail reported that Chelsea owner Roman Abramovich gets another GBP 100 million richer as steel maker Evraz pays first dividend since 2014. As per report the Chelsea FC owner now looks set to add around GBP 100million to his GBP 6.4 billion fortune after steel maker Evraz, in which he owns a 31% stake, announced a GBP 331million interim dividend in its six-month figures its first payment since 2014.
   
   Evraz announced a dividend of USD 0.30 a share in its first-half results yesterday as higher coal and steel prices pushed total earnings up 100 per cent to GBP 890million.
   The firm stopped paying dividends in 2014 as part of a drive to reduce debt. Shares increased by 2.1%, or 5.5p, to 270.8p. Meanwhile, the FTSE drifted further away from record highs yesterday, falling 1.4% or 108.12, to 7389.94.
   
   Source : Daily Mail

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3. voda 14 augustus 2017 16:47

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   Glencore raises trading guidance
   
   Mining group Glencore raised earnings guidance for its trading business, citing higher commodity prices, and said on Thursday increased take-up of electric vehicles and demand for energy storage would boost demand for its products.
   
   Following the commodities downturn of 2015-16, big miners have repaired their balance sheets to help position themselves for growth. Glencore has cut debt and also has a mix of assets that could help it benefit from an upsurge in electric cars.
   
   The company raised full-year guidance for adjusted earnings before interest and tax in its trading or marketing business by USD 100 million to a range of between USD 2.4 billion and USD 2.7 billion.
   
   Ivan Glasenberg said on a conference call, noting demand for commodities looked strong and new supplies limited.
   
   First-half adjusted core earnings or EBITDA rose 68%, while EBIT rose 334 percent from a year before and net debt Mrfell USD 1.6 billion from the end of 2016 to USD 13.9 billion.
   
   Its net debt to EBITDA ratio shrank to 1.07 at the end of June, down from 1.51 at the end of 2016. A ratio of around 1 is considered healthy in the capital-intensive mining industry.
   
   As a leader in cobalt and with strong nickel, zinc and copper output, Glencore relishes the prospect of higher take-up of electric cars.
   
   Glasenberg said that "The potential large-scale roll-out of electric vehicles and energy storage systems looks set to unlock material new sources of demand for enabling underlying commodities, including copper, cobalt, zinc and nickel.”
   
   Source : Reuters
4. voda 14 augustus 2017 16:49

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   Strategic Minerals targets GBP 100 million value as iron ore deliveries ramp up
   
   Strategic Minerals PLC has set itself a target to quadruple in value over the next five years. The iron ore, tungsten and tin and cobalt group said that based on the potential in these businesses (plus some more acquisitions) it can see scope for its market value to rise to GBP 100 million from GBP 30 million currently.
   
   Revenues from New Mexico–based iron ore business Cobre Magnetite hit another record in July, though the quarter to June was affected by transport issues at the end of the three months.
   
   Volumes were 10,446 tonnes in the quarter to June against 14,264 tonne in the previous three months, but rebounded to 7,206 tonne in July as a new customer taking 4,000 tonne per month started to receive deliveries.
   
   Talks are still ongoing over a new extended tailings access contract at Cobre, but it said the mine owners have asked it to relocate its offices at the site, which it beleives indicates planning for an extended period.
   
   Cash at the end of June was USD 1.36 million, reflecting a prepayment from its new iron ore customer.
   
   Elsewhere, at Redmoor in Cornwall, two holes have been added to the drill programme for tin and tungsten while an air core drill programme is underway at Hanns Camp, the nickel/cobalt project in Australia.
   
   Mr Alan Broome chairman said that "In the March quarter, the addition and subsequent replacement of a new client for our Cobre operations points towards a profitable 2017. The board and management consider the company is in a strong position and are constantly reviewing both internal and external opportunities to ensure that cash resources are utilized most effectively in order to deliver value to our shareholders."
   
   Source : Proactive Investors

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5. voda 14 augustus 2017 16:57

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   Tata Steel commissions first solar project at Indian iron ore mine
   
   Clean Technica reported that India’s second largest steel maker, Tata Steel, recently commissioned the country’s first solar power project located at an iron ore mine. Tata Steel has commissioned a 3 megawatt solar power project at an iron ore mine in the state of Jharkhand. The solar power project, the first at an iron ore mine in India, will help Tata Steel replace a part of the electricity it consumes from the grid or diesel-based generators to power operations at the mine.
   
   The project was commissioned jointly by Tata Steel, Tata Power Solar and Tata Power Trading Company - all part of the Tata industrial conglomerate. Power generated from the project will be purchased by Tata Steel at a fixed tariff. According to the information provided by the company in a press release, the mine currently draws electricity from the grid to carry out operations. In case the grid electricity is unavailable, the company shifts to diesel-based power generators.
   
   Mr TV Narendran, Managing Director, Tata Steel India, said that “We have constantly looked at opportunities to exploit renewable energy sources. This is yet another milestone in our quest to become a sustainability driven company, committed to exploring clean energy solutions. Renewable energy is the best way of mitigating the impact of climate change.”
   
   With the implementation of this solar power project, the company will be able to offset at least a part of the fossil fuel-based electricity coming from the grid or being generated using diesel. In addition to the solar power project, the company has also installed several solar-powered lights. The site of the project has enough area to increase the project size to 4.5 megawatts.
   
   Other metal companies in India are also looking to implement renewable energy projects to power their operations. Vedanta-owned Hindustan Zinc, the largest zinc producer in India, is planning to set up 115 megawatts of solar power capacity for captive power consumption.
   
   According to company officials, the capacity shall be set up in two phases — 15 megawatts and 100 megawatts. In the first phase, 10 megawatts capacity shall be set up near a smelter facility while a 5 megawatts project will be set up close to a zinc mine.
   
   Source : Clean Technica
6. voda 14 augustus 2017 17:01

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   Indian steel exports double to 8.2 million tonne on government safeguard steps - Survey
   
   Financial Express reported that steel exports doubled to 8.2 million tonnes and imports slashed by about one-third in 2016-17 on account of a slew of steps to safeguard domestic steel sector from the onslaught of cheap imports especially from China, the Economic Survey said today. The rise in exports of steel may also wipe away the excess capacity built up in the steel sector, the part II of the Survey tabled in Parliament said that “These steps (to safeguard industry) taken by the government have borne fruit. During 2016-17 imports of steel have declined, while exports of steel have doubled.”
   
   It said that alloy imports dipped by 36.6% to 7.4 million tonne in 2016- 17 as against 11.7 million tonne in the previous fiscal while exports doubled to 8.2 million tonne last fiscal over 4.1 million tonne in the corresponding year. The survey said that “It is interesting to note that Indian exports of steel have been growing amidst a stable exchange rate of the rupee. The rise in exports of steel may also wipe away the excess capacity built up in the steel sector.”
   
   It said that due to rise in demand for steel globally and a slowdown in imports, domestic production of steel has risen by 11% after accounting for the possible excess capacity in the sector. The domestic production of total finished steel in 2016- 17 has been 101.3 million tonne as compared to 91 million tonne in 2015-16. Against the backdrop of China’s recent economic slowdown, the global steel industry has faced major distress due to decline in global demand, including China’s demand for steel. In addition, excess capacity in steel production led to the dumping of steel by China, South Korea, and Ukraine into Indian markets at low prices.
   
   The Survey said that “In response to this, the government in 2016, introduced a host of measures like raising Basic Customs Duty, imposition of Minimum Import Price (MIP) and anti-dumping duties in order to shield the domestic producers. The government notified the MIP of steel in February 2016 for a period of one year. On April 12, 2016, India initiated countervailing duty investigation concerning imports of certain hot rolled and cold rolled stainless steel flat products, originating in China. The steel sector is one of the core industries in the economy. India is at present the third largest producer of Steel in the world.”
   
   Source : Financial Express
7. voda 14 augustus 2017 17:02

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   ThyssenKrupp Pursues merger with TATA Steel – Report
   
   Global Handelsblatt quoted thyssenKrupp’s CEO, Mr Heinrich Hiesinger as saying that he has been struggling since last year to reach an agreement to merge his industrial group’s European steel business with that of India’s Tata Steel. The merger plan, part of ThyssenKrupp’s strategy to focus on heavy equipment and other non-steel divisions deemed more potentially profitable, has been met with resistance by German trade unionists, who fear a merger will put at risk 27,000 steel jobs that have traditionally been considered part of the core of ThyssenKrupp’s business.
   
   Now, Mr Hiesinger faces a new challenge in his effort to move away from ThyssenKrupp’s steel business: its growing profitability.
   
   Source : Global Handelsblatt
8. leonardus65 15 augustus 2017 16:22

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   www.msn.com/nl-be/auto/nieuws/japans-...
9. Nasdaq2021 15 augustus 2017 16:26

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   quote:

   leonardus65 schreef op 15 augustus 2017 16:22:

   www.msn.com/nl-be/auto/nieuws/japans-...
   

   Dat is slecht nieuws voor AM. Dit zal dan ook buiten auto industrie gebruikt gaan worden. Kwestie van tijd.
10. statie1 15 augustus 2017 16:40

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    quote:

    Meloen2016 schreef op 15 augustus 2017 16:26:

    [...]Dat is slecht nieuws voor AM. Dit zal dan ook buiten auto industrie gebruikt gaan worden. Kwestie van tijd.
    

    zeer oud nieuws
11. voda 16 augustus 2017 16:39

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    BHEL to use Indian steel only for Rampal power plant in Bangladesh
    
    Bangladesh’s Financial Express reported that Indian contractor responsible for constructing the controversial Rampal power plant in the Sundarbans has blocked participation of local companies in the bids for supplying steel for the plant. Insiders said that the tender floated by the contractor has only allowed Indian companies to submit bids for supplying steel to build the 1,320 MW power plant at Rampal. The Bharat Heavy Electricals Ltd floated the tender for procuring steel for the coal-fired Rampal power plant in south-western district of Bagerhat. BHEL, in a clause of its tender, said that "The bidder should have integrated blast furnace in India with minimum annual capacity of production of steel of 50,000 MT (metric tonne)."
    
    The Bangladesh-India Friendship Power Company Limited has appointed BHEL to build the thermal power station, which has evoked serious criticisms by environmentalists and others for its faulty site selection.
    
    Some local steel manufacturers said they are not allowed to participate in the tender due to conditions set in the tendering by the BHEL. As per terms and conditions, only the Indian companies will be able to participate in the bid which is totally unethical and unacceptable for Bangladeshi manufacturers, they added.
    
    An official of a renowned local steel manufacturing company said that "We have enough capacity to supply steel for the Rampal Power plant. We are supplying thousands of tonnes of steel to some big projects like Padma Bridge and Rooppur Nuke Power Plant. But we cannot participate in the bid.”
    
    Source : Financial Express

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12. voda 16 augustus 2017 16:40

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    Ludhiana bicycle industry slams hike in steel prices
    
    Times of India reported that a meeting of United Cycle and Parts Manufacturers Association was convened last week at Ludhiana to discuss the incessant hike in the price of steel by major steel companies post the goods and services tax. President UCPMA, Mr Charanjit Singh Vishivkarma, said “Prices of steel raw material like wire rod, MS Round, HR Sheet, CRC Sheet have gone up by INR 3000-4000 per tonne ever since July 1 when GST was launched. This has happened even after claims by Union ministers that the rates will stabalise and even decrease after GST. This is a very worry some situation for us, as on one side, we are facing slump after GST and the rise in prices of steel has led to an increase in our cost of production."
    
    According to a senior member of UCPMA and leading bicycle parts manufacturer Avtar Singh Bhogal, Ludhiana is the Manchester of the bicycle industry but as per the present scenario, small units are closing due to the flawed policies of the government. When demonetization happened, we suffered a big jolt and now after GST the impact is worse with industrialists struggling for orders and big steel industries wreaking havoc by increasing prices of steel without any reason.
    
    Both Vishivkarma and Bhogal claimed that the rise in prices of steel has led to a situation that businessmen will now have no other option except to increase the price of bicycle by upto INR 250.
    
    Businessmen have also cautioned the government against the cartelization and increase in prices of steel and demanded that the minimum import price (MIP) levied on import of steel raw material should be abolished so that cheaper raw materials can be imported.
    
    Source : Times of India
13. voda 16 augustus 2017 16:41

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    SMS completes modernization of RINL Vizag Steel converter shop
    
    The start-up of the third converter at Visakhapatnam Steel Plant (Vizag Steel) in India marked the successful completion by SMS group of the modernization of converter shop No 1. The modernization will help to increase annual steel production from three to 3.5 million tons while achieving highly effective environmental protection.
    
    Source : Strategic Research Institute

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14. voda 16 augustus 2017 16:42

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    Explosion kills two at Gerdau steel plant coke oven in Brazil
    
    Reuters reported that an explosion at a Brazilian steel plant operated by Gerdau SA killed two people on Tuesday. The blast occurred at a coke oven at Gerdau's plant in the center-south state of Minas Gerais around 10 AM local time
    
    The plant's operations were not affected, although the union is preparing a protest over the maintenance of equipment.
    
    Gerdau confirmed the accident occurred and the number of casualties but did not immediately provide further details.
    
    This is the second major accident in less than one year at the steel plant that employs roughly 2,000 people, according to the union. An explosion at a blast furnace killed four in November.
    
    Source : Reuters
15. voda 16 augustus 2017 16:43

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    Iran government implements new steel pricing mechanism
    
    Financial Tribune reported that Iranian government is making another foray to enforce pricing, as the so called Competition Council has announced a new pricing mechanism for steel. Based on average global prices and foreign exchange rates in Iran, the pricing method for less than 5-mm-thick hot-rolled coil, for instance, is meant to regulate a seemingly monopolized market. Consequently, the base price of all HRC offered on Iran Mercantile Exchange is set to be determined by multiplying the average of Metal Bulletin’s CIS FOB Black Sea price for the last 15 days by the SANA rate, which is the daily average trade rate in the forex market.
    
    HRC suppliers are mandated to sell at least 25% of their materials at IME and also communicate their supply schedule for each material to consumers a week before each quarter starts. The council must be made aware of any deviation in the plan within a maximum of one week. The producers addressed include Mobarakeh Steel Company, Ferro Gilan Complex and Ahwaz Rolling and Pipe Mills Company.
    
    The Competition Council is a government-backed body that monitors and, in some cases, sets prices of local products. The name has so far usually resonated in cases related to the auto sector.
    
    Source : Financial Tribune
16. voda 16 augustus 2017 16:44

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    Steel rebar price hikes spark concern in Egyptian construction industry
    
    Ahram Online reported that the price of steel rebars in Egypt has increased rapidly over the past three months, with price instability causing concern within the construction sector, resulting in possible knock-on effects for both companies and consumers. According to the housing ministry, rebar prices increased from an average of EGP 9,700 per tonne in June to EGP 10,350 in July. The price on 9 August hit EGP 10,900 per tonne. The figures suggest a 12.37% increase over the three-month period.
    
    The most recent increase followed the 9 August decision by Ezz Steel to raise its prices to EGP 11.050. Ezz is one of the biggest steel rebar manufacturers in Egypt.
    
    Ahmed El-Zainy, the head of building materials at the Cairo Chamber of Commerce, told Ahram Online that prices have been rising more rapidly than usual over the past few months. He said “The increase in steel rebar prices should occur once per month. Now it's taking place once per week, or on a semi-daily basis. This confuses the market and causes great harm, not only to construction companies, but also to citizens."
    
    However, Mohamed Hanafy, director of the Cairo Chamber of Metallurgy at the Egyptian Industrial Federation, told Ahram Online that the recent price rise is normal, because Egyptian rebar prices are affected by the global metals market, which tends to fluctuate. He told "The cost of steel for contractors has only risen by 10 percent, which will not affect construction costs.”
    
    Source : Ahram Online

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17. voda 16 augustus 2017 16:45

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    Tata Steel UK fined GBP 1 million for breach of health, safety act
    
    Business Standard reported that the former owner of the Scunthorpe steel works, Tata Steel UK, was fined GBP 1 million at Hull Crown Court for two breaches of the Health and Safety Act. It was handed a GBP 930,000 fine, plus ordered to pay GBP 70,000 costs, UK media reports said on Friday. Last November, the company, which sold the Scunthorpe site to British Steel last year, pleaded guilty to the breaches that happened in 2011.
    
    In July, Dr Austin Stoton, prosecuting, told the court the case involved a processing facility in Scunthorpe in the Benzol Plant at the Appleby Coke Ovens area and a five-metre wide vapour cloud.
    
    Source : Business Standard
18. voda 16 augustus 2017 16:46

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    JSW Steel likely to get smaller land in Odisha - Report
    
    Business Standard reported that Odisha pulls the plug on Posco project, hope brightens for rival JSW Steel JSW Steel gets nod for INR 50,000 crore mega steel plant in Odisha Posco closes last chapter in Odisha project Odisha steel units balk at high iron ore linkage prices by OMC. Sajjan Jindal-led JSW Steel might have to settle for a smaller land parcel for its mega steel plant of 10 million tonne capacity proposed in Odisha. The steel company has asked for 4,500 acres of land near Paradip to install the shore-based steel plant in phases.
    
    The state government, however, has decided to appraise this land requirement as modern, greenfield steel mills are usually more compact structures due to use of latest technology and this reduces the area. Besides this, acquisition of large patches of land in the state has been a sore point historically with local land losers and investors locking horns. Having burnt its fingers over the mega projects of Posco and ArcelorMittal that were mothballed primarily due to protracted land protests, the state government is acting with caution. ArcelorMittal aborted its 12 million steel plant in Odisha in 2013 primarily over land acquisition hassles and law & order problems at the chosen site. More recently, Posco wrote to the state government to surrender the land acquired for its project of equal capacity.
    
    A senior Odisha government bureaucrat said that “New steel plants can manage with less area since they make use of more efficient technologies. The same can be the case for JSW Steel. Though they have asked for 4500 acres of land, we feel the projected land requirement can be rationalised. But, the state government, on its own cannot do it due to lack of expertise. So, we are thinking of hiring an agency like Mecon.”
    
    Last week, JSW Group chairman Sajjan Jindal called on the chief secretary and other key officials. The state government has asked JSW Steel to submit the detailed layout of the land and how it intends to develop it.
    
    Source : Business Standard

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19. voda 16 augustus 2017 16:46

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    ArcelorMittal South Africa may get a lifeline - Report
    
    Financial Express reported that ArcelorMittal South Africa may get a lifeline from its empowerment partner Likamva Resources which is willing to increase its stake in Africa’s biggest steel producer. Last year, there was urgent government intervention after ArcelorMittal’s threatened closure of one of its plants put the lives of the entire town of Vanderbijlpark, south of Johannesburg, in jeopardy through unemployment. Now AMSA’s Black economic empowerment partner Likamva Resources says it is willing to increase its 17 per cent stake in Africa’s biggest steel producer despite its loss making record, the weekly Sunday Times reported.
    
    Noluthando Gosa, a partner at LR, told the weekly that if resources and funds permitted it, the company would inject the capital needed to help AMSA. But any changes in this increased shareholding would have to be sanctioned by the company’s London-based parent.
    
    Amid speculation about a possible sell-off, AMSA remained optimistic about its prospects in the face of these challenges. “Several initiatives are under review by AMSA’s executive team to improve the company’s performance,” an AMSA spokesman said.
    
    Analysts appeared to concur that it would not be viable to sell AMSA.
    
    Wade Napier at Avior Capital Markets gave two reasons for this the hard work Mittal had done in securing an operating licence in South Africa; and the fact that any sale was likely to involve a significant discount demand. Makwe Masilela at BP Bernstein suggested that AMSA might just need to sell off parts of its business and secure the support of the government. Such support has already come in the form of safeguard duties on imports, due to be implemented in the second half of this year, which AMSA is banking on to help grow its earnings.
    
    Source : Financial Express
20. voda 16 augustus 2017 16:50

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    ArcelorMittal replaces aging systems to boost efficiencies at I/N Tek and I/N Kote plants in New Carlisle
    
    NWI Times reported that ArcelorMittal has boosted productivity at its I/N Tek and I/N Kote plants in New Carlisle, where it is replacing 19 automatic guided vehicles that move steel coil around the facilities. Mr Mike Utterback, division manager, cold rolling and annealing said that “The original AGVs were 25-years-old. They were becoming the Achilles heel of the operation, causing numerous shutdowns and interruptions. Replacing them was extremely important to the division.”
    
    The automated vehicles were designed specifically for I/N Tek and I/N Kote, where they move coil from the cold mill to the continuous anneal process line and the continuous galvanize line, and then to a storage area. The automated process is computer controlled.
    
    IT Process Systems Analyst Jack Totten said that “We weren’t buying something off the shelf. Our team designed these vehicles, so that added to the timeline – about two years from start to commissioning.”
    
    ArcelorMittal, one of Northwest Indiana's largest employers, is hailing the project as "one of the most critical upgrade projects ever attempted at the New Carlisle facility." It's a 60-40 joint venture between ArcelorMittal and Nippon Steel & Sumitomo Metal Corp. from Japan that largely processes steel made at ArcelorMittal's nearby steel mills in Burns Harbor and Indiana Harbor.
    
    The steelmaker is investing USD 5 million in the project, and already has replaced five of the automatic vehicles.
    
    New safety features were added, including audible alarm systems, emergency E-stop button and waist-high laser sensors.
    
    Mr Totten said that “If you get too close, the machine will automatically stop and not move again until someone comes out and manually resets it. It’s a good safety feature."
    
    He said the automated transport system improves safety and efficiency.
    
    Mr Totten said that “We have virtually no coil damage. We know where every single coil is located at any given moment. There’s no writing down where you put a coil and who’s keeping track of the list."
    
    Source : NWI Times