ArcelorMittal LU1598757687

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1. voda 22 augustus 2017 16:45

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   Australia to issue dumping notice on galvanished steel from Vietnam
   
   VNA reported that Australia has decided to impose anti-dumping duties on zinc-coated steel imports from Vietnam, India and Malaysia. According to the Vietnam Trade Office in Australia, the galvanized steel was subjected to the dumping duty notice following recommendations by Australia’s Anti-Dumping Commission.
   
   To compare export prices and normal value to determine whether dumping occurred and to determine the dumping margin the commission compared the weighted average of export prices with the weighted average of corresponding normal values between July 1, 2015 and June 30, 2016.
   
   The commission concluded that the export price of the goods is below their normal value, which could harm the Australian industry producing the goods, including of profits, reduced profitability, reduced employment and price depression.
   
   The commission estimated the dumping margins for the steel exported from a cooperative producer in Vietnam was 8.4% while uncooperative and all other exporters had a dumping margin of 14.2%.
   
   The commission also terminated a dumping investigation against Hoa Sen Group and Nam Kim Steel JSC on July 17 as their dumping margin was negligible.
   
   It also halted a subsidy investigation against all Vietnamese galvanized steel producers and exporters on the same day, concluding that the producers and exporters had received countervailable subsidies from the Vietnamese Government during the investigation period but the subsidies were negligible. The countervailing duty notice will only be published for those imported from India.
   
   Source : VNA
2. voda 22 augustus 2017 16:46

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   Visa steel plant closes on iron ore shortage - Report
   
   KalingaTV reported that thousands of labourers of Visa steel Plant on Monday staged a dharna at Biju Patnaik Marg, Kalinganagar here protesting against the plant authorities’ decision to shut the unit temporarily citing shortage of raw materials. The plant was temporarily shut due to a halt in transport of raw materials, including iron ore and chromite, allegedly by contractors backed by the ruling BJD. Eventually, the plant authorities sent notice to the labourers to cease work.
   
   Despite permission to have 5500 tonnes iron ore and 3700 tonnes chromite, the raw materials were not being transported to the plant due to a dispute between the plant authorities and transport contractors, alleged a VISA plant employee.
   
   A meeting, attended by Sukinda legislator Priti Ranjan Ghadai, District Collector, Plant authorities, a delegation of transport contractors and members of Kalinganagar labour union, held on Friday failed to resolve the dispute.
   
   As of now , the blast furnace, steel melt shop (SMS), rolling mill, DRI and Ferro chrome plant under the Visa steel plant have been shut due to shortage of iron ore and chromite. With the move, 3200 employees working under the contractors will lose their employment.
   
   Source : KalingaTV

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3. voda 22 augustus 2017 16:49

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   TMK Q2 and H1 pipe market review
   
   In 2Q 2017, the Russian pipe market grew by 15% compared to the previous quarter, largely driven by higher demand for industrial pipe.
   
   Source : Strategic Research Institute

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4. voda 22 augustus 2017 16:50

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   US Doc initiate investigations on imports of carbon and alloy steel wire rod
   
   On April 17, 2017, the Department of Commerce initiated less than fair-value investigations of imports of carbon and alloy steel wire rod (wire rod) from Italy, Korea, South Africa, Spain, Turkey, Ukraine and the UK. Currently, the preliminary determinations are due no later than September 5, 2017.
   
   Source : Strategic Research Institute
5. voda 22 augustus 2017 16:54

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   NMDC produces 11 million tonnes iron ore in Apr to July
   
   India's largest iron ore miner NMDC said that it produced 10.93 million tonnes of ore in April to July of 2017-18. The state-owned company produced 6.86 million tonnes iron ore from its mines in Chhattisgarh and 4.07 million tonnes in Karnataka during the first four months of 2017-18.
   
   National Mineral Development Corporation said that it sold 12.04 million tonnes iron ore in the period under review. Production and sales figures of iron ore are provisional.
   
   Source : Strategic Research Institute
6. voda 22 augustus 2017 16:57

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   Fortescue full year net profit jump by 113%
   
   Fortescue has reported a full-year net profit after tax of AUD 2.093 million, against a market forecast of AUD 2.125 million. The result represents a 113% increase on the prior year, as the company took advantage of higher prices for iron ore combined with an increased focus on costs.
   
   This table from the company’s consolidated income statement illustrates how Fortescue increased revenue by almost AUD 1.5 billion while also reducing its cost of sales:
   
   Fortescue Annual Report
   
   _______________________2017____2016
   Operating sales revenues----- 8447---7083
   Cost of Sales-----------------4888---5064
   Gross Profit------------------3559---2019
   
   The company announced a final dividend of 25 cents (against a market forecast of 15 cents), taking full-year dividends to 45 cents fully franked.
   Free cash flow from operating activities rose by almost AUD 1.5 billion after capital expenditure.
   Fortescue used the excess funds to pay off an additional AUD 2.7 billion of debt, while arranging refinancing for a further AUD 1.5 billion.
   Fortescue CEO Nev Power said that “The whole Fortescue team has delivered these outstanding results against our key stretch targets of safety, production and cost. Safety improved by 33% compared to the previous year, while costs improved by 17% and we achieved a record low C1 operating cost of USD 12.16/metric tonne in the June quarter.”
   
   Source : Strategic Research Institute
7. voda 22 augustus 2017 16:59

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   Iran iron ore concentrate production up by 28pct
   
   Financial Tribune reported that major Iranian iron ore producers manufactured 12.49 million tonnes of iron ore concentrate during the first four months of the current fiscal year (March 21to July 22), registering a 28.3% growth compared with last year’s corresponding period.
   
   Acoording to Iranian Mines and Mining Industries Development and Renovation Organization, Gologhar Mining and Industrial Complex accounted for 4.46 million tonnes of the total output, followed by Chadormalu Mining and Industrial Complex with 2.84 million tonnes, Iran Central Iron Ore Company with 1.56 tonnes, Goharzamin Iron Ore Company with 1.41 million tonnes, Middle East Mines and Mining Industries Development Holding Company with 1.26 tonnes, Opal Parsian Sangan with 711,715 tonnes and Sangan Iron Ore Complex with 190,940 tonnes. The miners’ output for Tir, the fourth month of the Iranian year ending July 22, indicates a 5.4% year on year growth to 2.95 million tonnes.
   
   Source : Financial Tribune

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8. voda 22 augustus 2017 17:13

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   Beursblik: Barclays verwacht meer tegenwind voor ArcelorMittal
   
   Winsttaxaties voor dit jaar omlaag bij Britse bank.
   
   (ABM FN-Dow Jones) Barclays verwacht dat ArcelorMittal het moeilijker heeft in het tweede halfjaar en heeft daarom zijn winstverwachtingen omlaag gebracht. Dit bleek dinsdag uit een rapport van de Britse bank.
   
   De analisten voorzien lagere spreads in Europa en Noord-Amerika, terwijl er in Brazilië en Zuid-Afrika volgens hen sprake zal zijn van een aanhoudende zwakke vraag. Deze aspecten zullen echter gedeeltelijk worden opgevangen door de mijnbouw tak en de activiteiten in Rusland en omringende landen.
   
   Alles bij elkaar genomen besloot Barclays om de verwachtingen voor het bedrijfsresultaat (EBITDA) in het tweede halfjaar met 4 procent te verlagen tot 3,7 miljard dollar. Voor 2018 werd de taxatie gehandhaafd, maar Barclays blijft daarmee voor volgend jaar ruim onder de consensus zitten. De analisten blijven neerwaartse risico's zien, ondanks de huidige solide omstandigheden in de staalmarkten.
   
   Het huidige jaar is volgens de marktvorsers een uitzondering voor staalbedrijven, die zijn geholpen door maatregelen in China om de overcapaciteit daar aan te pakken, en een goede vraag in Europa. Voor 2018 voorzien de analisten daarentegen een daling van de ijzerertsprijzen en lagere marges op staal. Ze merkten op dat het verbeteringsprogramma van ArcelorMittal voor de helft afhankelijk is van marktontwikkelingen. Daarom blijft het advies van Barclays Onderwogen, met een koersdoel van 17,00 euro.
   
   Op een groen Damrak noteerde het aandeel ArcelorMitttal dinsdag 0,2 procent hoger op 22,22 euro.
   
   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
9. [verwijderd] 23 augustus 2017 10:23

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   Ha….. hebben we het Nederlands weer gevonden ??? Jammer vind ik het dat op dit forum zoveel in het Engels wordt geschreven, en het vaak veel VODA berichten zijn. Misschien daarom ??? Maar gisteren … in een keer weer even wat mooi bijgepraat in het Nederlands, Dank. Groetjes EJM.
10. voda 23 augustus 2017 16:46

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    Big rise in steel prices unlikely - CISA
    
    China's steel prices have begun to rise, but an industry group tried to calm the market Tuesday, saying the increase will be limited as new production capacity is set to ease supply. China Iron and Steel Association said on its website “The steel price index climbed to this year's peak of 106.49 at the end of July, lifted by higher iron ore costs, improved demand as well as lower supply due to government policies to cut steel overcapacity and enhance environmental protection.”
    
    The country's crude steel output rose 5.1 percent year on year to 492 million tonnes in the first seven months this year, while apparent consumption of crude steel increased 10.9 percent to 450 million tonnes, according to CISA data.
    
    Although production restrictions amid tighter enforcement of environmental rules during the winter heating season will cap supply in the coming months, expanding competitive capacity will help contain large price rises, the CISA said.
    
    China has been striving to close small mills that churn out low-quality steel made from scrap metal, this year, leading to decreased supply.
    
    The crackdown on the small low-end furnaces, accounting for 4 percent of total steel output, came as Beijing aims to cut excess capacity, tackle pollution and improve safety measures at these mills.
    
    Source : Xinhua
11. voda 23 augustus 2017 16:50

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    Anti-dumping duties on rebar may worsen Egypt's economy - Report
    
    Al Monitor reported that many Egyptians are questioning the usefulness of imposing anti-dumping duties on imported steel at the risk of suffering an unprecedented rise in steel prices. The rise in steel prices does not affect citizens directly; it is rather reflected in higher real estate prices, as steel is one of the basic construction materials.
    
    Ahmed al-Zainy, head of the Building Materials Division at the Federation of Egyptian Chambers of Commerce, told Al-Monitor, “Steel prices will lead to higher real estate prices by 25% to 50%. The decision to impose anti-dumping duties has yet to produce its desired objectives. It did not promote and support the national industry. The price increase of a ton of steel from 4,700 Egyptian pounds to 12,000 pounds will trouble numerous real estate and construction projects and lead to a stagnation of domestic steel demand.”
    
    In turn, Abdel Nasser Mohamed, a professor of economics and public finance at Mansoura University, told Al-Monitor, “The government must prove its good intention by canceling the anti-dumping duties, because this only serves the interest of a group of monopolists.”
    
    On Aug 15, the price of rebar in Egyptian factories ranged between EGP 11,500-12000 (USD 647- 675) per tonne. The price has been rising gradually since June, when the Ministry of Trade and Industry imposed anti-dumping duties on rebar imported from Turkey, China and Ukraine for four months. Before the government imposed these duties, a ton of rebar cost from EGP 9,400-9900 (USD 530-558); thus, the cost has risen by around 22% in just two months since the decision.
    
    The anti-dumping duties reached 17% of the customs cost for Chinese rebar, 10% to 19% for Turkish rebar and 15% to 27% for Ukrainian rebar.
    
    Source : Al Monitor
12. voda 23 augustus 2017 16:51

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    Tesla Model 3’s body structure is a strategic blend of aluminum and ultra high-strength steel
    
    Telsarati reported that new photos from Tesla Model 3’s Body Repair Tech Note reveal a metal composition for the vehicle’s structure that strikes a perfect balance between world class safety and cost effectiveness. Photos, posted to Twitter and shared on Reddit, illustrate just how Tesla has been able to achieve a Model 3 body structure design that’s lightweight and has unparalleled strength at an entry level price point.
    
    Looking at a front quarter exploded view of the Model 3 body, one can see the various compositions of steel the Tesla engineers used across the machine-stamped, multi-layer structure.
    
    Tesla uses three different grades of steel, from mild steel used on the outer body structure where it’s designed to absorb initial impacts, and high-strength, to ultra high-strength used in the vehicle’s core. For instance, the A-pillar and B-pillar (noted in red on the graphic) is fabricated from ultra high-strength steel in order to provide maximum rollover protection. Model 3’s front frame rail is a composition between high-strength and ultra high-strength steel, and serves as the main support for the front “crumple zone”.
    
    Tesla Model 3’s body repair manual notes that “Structural Pulling” is not allowed, meaning that any structural component that’s welded, weld-bonded, riveted, or rivet-bonded to the vehicle can not undergo a process wherein the straightening of structural parts are facilitated through a hydraulic pulling machine. Doing so would compromise the yield strength of the metals being used.
    
    Also noted in the Model 3 structural diagram is the “underbelly” that serves as the main support for Model 3’s skateboard style battery pack, similar to what’s used in its older Model S and Model X siblings. The entire underside of the vehicle is fabricated from high-strength steel.
    
    Side impact safety on the Model 3 is bolstered by a fully fortified closed steel structure in ultra high-strength steel. Looking at the crash test video showing a side-pole impact test performed on Tesla’s Model 3 and Volvo’s S60, one can easily see the level of deformity the Volvo has over the Model 3.
    
    Lastly, lightweight aluminum is introduced in areas of the body structure that are less susceptible to accidental impact such as the trunk floor and wheel wells. Using aluminum helps Model 3 maintain a relatively light curb weight of 3,549 lbs. for the standard version and 3,814 lbs. for the Long Range Model 3 with larger (and heavier) battery pack.
    
    All in all, Tesla’s use of various steels and aluminum in Model 3’s body structure can be seen as a learning experience and first iteration towards even more affordable and higher volume production down the road – Model Y.
    
    Source : Telsarati

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13. voda 23 augustus 2017 16:59

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    Latijns-Amerika leverde in de eerste helft van 2017 een verbetering van de staalproductie en -verbruik voor
    
    > Productie van ruw staal: 31,6 miljoen ton
    > Productie van gewalst staal: 26,2 miljoen ton
    > Schijnbaar staalverbruik: 33,1 miljoen ton
    > De totale staalimport in Latijns-Amerika groeit met 13%
    
    Alacero - Santiago, Chili, 22 augustus 2017 . De regionale staalmarkt in januari-juni van dit jaar had een positief resultaat. De productie van ruwstaal groeide met 11% en de productie van gerolde staal 4%, in vergelijking met dezelfde periode vorig jaar. Van haar kant is het verbruik uitgebreid met 4%.
    Dit scenario wordt echter beïnvloed door de invoer die de regionale consumptie met 33% heeft geleverd, met 3 procentpunten ten opzichte van dezelfde periode in 2016 (30%). Aan de andere kant blijft het handelsbalans van de regio negatief, waardoor het tekort versus de eerste helft van 2016 met 17% wordt verhoogd.
    
    productie
    Ruw staal. De regio heeft in januari-juni 2017 een productie van 31,6 miljoen ton (Mt) ruwe staal geproduceerd, 11% hoger dan in 1H 2016 (28,6 Mt). Brazilië blijft de belangrijkste producent met 53% van het regionale totaal (16,7 Mt), met een stijging van 12% tegenover de eerste zes maanden van 2016.
    Gelamineerd staal In dezelfde periode produceerde de regio 26,2 Mt gewalst staal, 4% hoger dan in januari 2016. De belangrijkste producenten zijn Brazilië 10,9 Mt (42% van het Latijns-Amerikaanse totaal) en Mexico met 9,4 Mt , Met 36%.
    
    Verbruik van gewalst staal
    In de eerste zes maanden van het jaar nam de regio een verbruik van gewalst staal van 33,1 Mt, 4% hoger dan in 1H 2016 (31,7 Mt). De belangrijkste landen die hun consumptie hebben verhoogd, zowel in absolute als in percentages, waren Mexico (1,2 extra Mt en 10% groeiend), Colombia (74 duizend extra ton en 4%) en Chili (44 duizend extra ton en +3 %).
    Anderzijds, in Argentinië, kwam het verbruik van gewalst staal op 120 duizend ton en viel 5% ten opzichte van januari-juni 2016. Terwijl Bolivia, Ecuador, Guatemala en Honduras geregistreerd zijn, valt respectievelijk 52%, 21%, 42% en 21%.
    
    Van het Latijns-Amerikaanse totaal komt 58% overeen met platte producten (19,1 Mt), 41% tot lange producten (13,7 Mt) en 2% naar naadloze buizen (586 duizend ton).
    
    Handelsbalans
    Invoer. In januari-juni 2017 importeerde Latijns-Amerika 10,9 Mt gewalst staal, 13% meer dan in dezelfde periode van 2016 (9,6 Mt). Van dit totaal komt 69% overeen met platte producten (7,5Mt), 29% tot lange producten (3,1 Mt) en 3% naar naadloze buizen (286 duizend ton).
    
    Momenteel vertegenwoordigt de invoer van gewalste producten 33% van de consumptie van de regio, waardoor de plaatselijke industrie, de handelswrijving en de arbeidskrachten in gevaar komen.
    
    Export. Latijns-Amerikaanse export van gewalst staal bereikte 4,7 Mt, 9% meer dan in Jan-Jun 2016 (4,3 Mt). Van dit totaal komt 50% overeen met platte producten (2,3 Mt), 40% tot lange producten (1,9 Mt) en 10% naar naadloze buizen (475 duizend ton).
    
    Saldo tekort. In januari-juni 2017 heeft de regio een tekort op het handelsvolume van 6,2 Mt gewalst staal geregistreerd. Deze onbalans is 17% hoger dan waargenomen in januari-juni 2016 (-5,3 Mt).
    Brazilië en Argentinië zijn de enige landen die een overschot handhaven in hun gelamineerde staalhandel, respectievelijk 1,4 Mt en 96 duizend. Daarentegen werd het grootste tekort in Mexico (-2,9 Mt) opgenomen. Het werd gevolgd door Colombia (-1,2 Mt), Chili (-838 duizend ton), Peru (-754 duizend ton) en Ecuador (-551 duizend ton).
    
    De evolutie van de handelsstromen en het saldo worden weergegeven in Chart 02.
    Productie juli 2017 - Advance informatie
    Voorlopige informatie vanaf juli 2017 geeft aan dat de productie van ruwe stalen 5,2 Mt in de maand bereikte, 2% meer dan in juni 2017 en 1% minder dan in juli 2016. Cumulatief, tussen januari en juli 2017 Bereikte 36,8 Mt, 9% meer dan in januari-juli 2016 (33,8 Mt).
    
    De productie van laminaat is gesloten op 4,5 Mt, 1% meer dan in juni 2017 en ook 1% meer dan in juli 2016. Cumulatief bereikte de laminaatproductie tussen januari en juli 2017 30,6 Mt, 3 % Meer dan in januari-juli 2016 (29,7 Mt).
    
    woordenlijst
    Ruw staal: Het is het staal in zijn meest basale presentatie, zoals het resultaat is na het proces van gieten (platen, billet, enz.). Om de benodigde kwaliteiten te verkrijgen voor het gebruik ervan, vereist dit staal om latere processen door te gaan (lamineren, enz.).
    Gelamineerd of afgewerkt staal: verwijst naar staal in een van de 3 groepen: lange producten (betonstaal, staafstaaf, profielen, rails), platstaal (lakens en spoelen gelamineerd, bekleed, voorverfd, roestvrij staal, blikje, zink , Chrome) en naadloze buizen.
    
    Over Alacero
    Alacero - Latijns-Amerikaanse Staalvereniging - is de non-profit burgerlijke entiteit die de staalketen van Latijns-Amerika combineert om de waarden van regionale integratie, technologische innovatie, uitmuntendheid in menselijke hulpbronnen, veiligheid op het werk, maatschappelijke verantwoordelijkheid te bevorderen En duurzaamheid op sociaal-milieugebied. Opgericht in 1959 bestaat het uit 49 bedrijven uit 12 landen in Latijns-Amerika, waarvan de productie bijna 70 miljoen ton per jaar bedraagt. Alacero wordt erkend als een speciaal adviesorgaan door de Verenigde Naties en als een internationale niet-gouvernementele organisatie door de regering van de Republiek Chili, het gastland van Alacero.
    Neem contact met ons op
    comunicaciones@alacero.org
    (56-2) 2233-0545, bijlage. 23
    
    translate.google.nl/translate?hl=nl&a...

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14. voda 24 augustus 2017 16:40

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    Wereldstaalproductie opnieuw omhoog
    
    Gepubliceerd op 24 aug 2017 om 13:02 | Views: 1.124
    
    ArcelorMittal 16:23
    22,26 +0,08 (+0,34%)
    
    BRUSSEL (AFN) - De wereldwijde staalproductie is in juli wederom toegenomen. Dat blijkt uit cijfers van de internationale brancheorganisatie World Steel Association (WSA). De productie dikte met 6,3 procent aan ten opzichte van een jaar eerder, tot 143,2 miljoen ton.
    
    In China, verreweg de grootste staalproducent, werd met een totaal van 74 miljoen ton dik 10 procent meer staal gemaakt. Ook in landen als India, Duitsland en de Verenigde Staten zat de productie in de lift. In de Japan was wel sprake van een daling.
    
    Bij de WSA zijn zo'n 160 staalproducenten aangesloten, waaronder negen van de tien grootste staalconcerns ter wereld. Zij zijn gezamenlijk verantwoordelijk voor zo'n 85 procent van de wereldwijde productie.
15. voda 24 augustus 2017 16:56

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    International steel have room to go up further - Mr TV Narendran Tata Steel MD
    
    Money Control reported that in an interview to CNBC-TV18, Mr TV Narendran, MD of Tata Steel spoke about global prices. He said ”If you look at international prices, while it has gone up in the last six weeks or so, but even today, it is lower than the average of the last 10-15 years. Typically, if you look at hot rolled coil prices, for most of the time, till two years back, it was USD 600 plus. So it went down to about USD 400 or USD 375 and even lower than that and that set the tone for our expectations for the last couple of years. But now, it is going back to levels where it should be because if you look at coking coal prices at USD 200 and above and if you look at iron ore prices at USD 75-80 and historically if you look at steel prices when coking coal and iron ore prices were at these levels, hot rolled coil prices were in the region of USD 600 and higher. So, international prices, at today's level of raw material prices, there is actually room to go up further.
    
    He said “What has also happened is China is growing faster than we had thought. So the Chinese steel consumption has actually grown by 10 percent in the last seven months from January to July whereas the production has only grown 5 percent. So as a consequence, China which used to export almost 10 million tonnes a month, is today exporting 5-6 million tonnes a month. And that 40-50 million tonnes coming out of the global markets has shifted the balance a bit and that is why the international prices are going up.”
    
    He added “As long as China continues down this path and they acting more than we thought on polluting capacities and they have closed down a fair amount of capacities, so the world's steel industry trade flows is coming to a balance that we had seen before 2013 and so steel prices should also trend towards what it was before 2013.”
    
    Source : Money Control
16. voda 24 augustus 2017 16:57

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    Tata Steel & Posco express interest in buying Essar Steel - ETNow
    
    Global majors including Tata Steel and Posco are reportedly expressing an interest in buying the assets of the troubled Essar Steel. Tata Steel has expressed a preliminary interest in Essar Steel and its assets, ET Now reported citing unidentified sources, adding that global strategic firms including Posco may also have expressed a preliminary interest. Tata Steel has reached out to Essar Steel’s IRP (interim resolution professional) Alvarez & Marsal India, which is overseeing Essar Steel’s insolvency under the Insolvency & Bankruptcy Code, ET Now reported.
    
    All the financial troubles of the steel major aside, the ET Now report said that Essar Steel’s healthy EBITDA per tonne and its geographical presence is attracting multiple suitors.
    
    The National Company Law Tribunal had admitted Essar Steel’s insolvency case earlier this month, after the Gujarat High Court had dismissed the company’s petition against the Reserve Bank of India in the bankruptcy process initiated on the firm. Essar Steel owes more than INR 45,000 crore in unpaid dues to lenders. The banks have already declared INR 31,671 crore as non-performing as of March 31, 2016. An SBI-led consortium of 22 creditors accounts for 93% of this amount.
    
    Source : ET Now
17. voda 24 augustus 2017 16:58

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    Brazilian government standing firm on tax incentives for Brazil steel industry
    
    BNAmericas reported that Brazilian steel producers' long-running claim for tax incentives was on the agenda once again this week, but significant changes in the government's stance are not on the horizon. Mr Pedro Galdi, chief analyst at São Paulo brokerage Magliano Corretora, told BNamericas steelmakers are especially keen for greater incentives under the Reintegra tax rebate program.
    
    He said "President Michel Temer [pictured] signaled that he is evaluating all possibilities regarding the Reintegra program, but I don't believe that something new will come up in the short term.”
    
    The analyst's remarks follow Temer's speech on Tuesday at the opening of the 28th Brazilian steel congress in Brasília, organized by industry trade group IABr. According to Temer, the Reintegra issue is still being debated within the government. He told “The initial idea was to eliminate the [current] 2% rate, but we ended up keeping it. Now our intention is to adjust the rate, by promoting a dialogue to analyze if it is possible to make any changes.”
    
    Mr Temer said that "Difficulties, there are too many at this point and we all know that, but we're talking and ... let's see if there's room for a revision" of the current rate.”His remarks underscore how politicians in Latin America's No. 1 economy are reluctant to end benign tax regimes to sectors with strong lobbying power. Temer's plan to raise borrowing costs on subsidized credit has been met with fierce resistance from businesses and opposition lawmakers, who earlier in the day blocked a vote on the matter.
    
    Mr Temer further said efforts to eliminate Brazil's budget gap before interest payments would require five to seven years, and not by the end of the decade. He reiterated his commitment to getting lawmakers to approve an overhaul of Brazil's pension and tax codes this year.
    
    Due to the weak domestic market, in the last few yars IABr has constantly urged the government to bring back the original Reintegra format, which was designed to bolster local manufacturers by reimbursing them the equivalent of 5% of the value of exports, which was later reduced to 2%.
    
    Source : BNAmericas
18. gpjf 24 augustus 2017 16:58

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    quote:

    voda schreef op 24 augustus 2017 16:40:

    Wereldstaalproductie opnieuw omhoog
    
    Gepubliceerd op 24 aug 2017 om 13:02 | Views: 1.124
    
    ArcelorMittal 16:23
    22,26 +0,08 (+0,34%)
    
    BRUSSEL (AFN) - De wereldwijde staalproductie is in juli wederom toegenomen. Dat blijkt uit cijfers van de internationale brancheorganisatie World Steel Association (WSA). De productie dikte met 6,3 procent aan ten opzichte van een jaar eerder, tot 143,2 miljoen ton.
    
    In China, verreweg de grootste staalproducent, werd met een totaal van 74 miljoen ton dik 10 procent meer staal gemaakt. Ook in landen als India, Duitsland en de Verenigde Staten zat de productie in de lift. In de Japan was wel sprake van een daling.
    
    Bij de WSA zijn zo'n 160 staalproducenten aangesloten, waaronder negen van de tien grootste staalconcerns ter wereld. Zij zijn gezamenlijk verantwoordelijk voor zo'n 85 procent van de wereldwijde productie.
    

    Tja Voda allereerst ik lees niet alle artikelen die je hier plaatst want dat is me teveel maar hogere productie kan je natuurlijk twee kanten uitleggen t.w er is meer vraag en daarom etc , je kan ook denken de voorraden lopen op en op ?
19. voda 24 augustus 2017 16:59

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    Solidarity, Numsa & Seifsa seal 7% wage deal for steel industry in South Africa
    
    Fin24 reported that following four months of negotiations, union members working in the South African steel industry will benefit from a 7% wage increase. The settlement agreement was signed by unions Solidarity and the National Union of Metalworkers of South Africa (Numsa), among others, and the federation of employers, the Steel and Engineering Industries Federation of South Africa (Seifsa).
    
    The increase covers all hours worked and related allowances. The agreement comes into effect from July 1 2017 and June 30 2018. An increase of 6.75% will come into effect for the following period and a 6.5% increase is agreed to for the period between July 2019 and June 2020.
    
    Numsa general secretary Mr Irvin Jim said the agreement follows challenging engagements with employers. He said “The settlement we reached today constituted a compromise, in that we would have taken a strike as Numsa that strike would not have settled unless we got 10%.” But this would have resulted in a number of employers not agreeing. The 7% agreement ensures that an agreement has been secured with the bulk of employers.”
    
    He said the agreement sends a message to employers in other sectors, particularly the plastic industry, that no less than 7% will be accepted by the union.
    
    Source : Fin24
20. voda 24 augustus 2017 17:00

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    Banks have stopped trusting data provided by steel companies - SBI Chairman
    
    Business Standard reported that State Bank of India chairman asked promoters of highly indebted steel companies to bring in more capital on the table as investment to ensure better profile and reduce stress. Ms Arundhati Bhattacharya, while addressing Centrum Broking’s steel industry conference, said “Steel firms are working on very thin margins, leaving them with little room to face adverse events. They must have a robust business models with sufficient margins to provide cushion to absorb shocks as well as resources for research and development.”
    
    Ms Bhattacharya said many steel units were fraught with project delays and cost overruns. She told “At the start of the project, promoters bring in initial capital but in later phases, they express inability to bring in additional money as their contribution. This is the start for delays and escalation of financial burden as interest on loans continues to accumulate.”
    
    Pointing to trust deficit between lenders and management or promoters of companies, the SBI chief said banks have stopped trusting data provided by steel companies and that there was a need for better transparency and corporate governance.
    
    She said “The problem in the banking industry is that if a bank were to give more money to non-performing assets, bankers would be open to questions. If the unit turns around, there will be no one to pat your back but if it goes bad, you will face questions on why you threw good money after bad and what was the consideration you received?”.
    
    "With that kind of environment, if you believe that banks can go ahead and support NPAs, that belief is wrong," Ms Bhattacharya added.
    
    Ms Bhattacharya said that banks would be in a better position to provide loans to the steel industry if the industry were to get priority or infrastructure status. Under these dispensations, banks would be able to lend money for a longer tenure.
    
    Source : Business Standard