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1. voda 17 oktober 2017 16:34

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   Amerikanen eisen opheldering van Kobe Steel
   
   Gepubliceerd op 17 okt 2017 om 08:47 | Views: 1.229
   
   TOKIO (AFN) - Het Amerikaanse ministerie van Justitie wil opheldering van Kobe Steel over de fraude met productinformatie. Dat meldde het Japanse bedrijf dinsdag, vooralsnog zonder dat verder toe te lichten.
   
   De Japanse metaalproducent sjoemelde onder meer met de uitkomsten van kwaliteitsinspecties voor staaldraad, dat gebruikt wordt in onder meer automotoren en om banden te versterken. Ook vervalste het bedrijf gegevens over de stevigheid en levensduur van onder meer aluminium- en koperproducten.
   
   Naar verluidt gebeurde dat al meer dan tien jaar. Afnemers zijn momenteel druk bezig hun producten na te lopen waarin materialen zijn verwerkt die Kobe Steel heeft geleverd. Het bedrijf benadrukte dat de liquiditeit op de korte termijn niet in gevaar is, ook omdat Kobe Steel waar nodig onderdelen zal verkopen.
2. voda 17 oktober 2017 16:39

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   Japanse beurs zet opmars voort
   
   Gepubliceerd op 17 okt 2017 om 08:18 | Views: 689
   
   TOKIO (AFN) - De aandelenbeurs in Japan is dinsdag opnieuw hoger geëindigd. Ook elders in het Verre Oosten gingen de beurzen overwegend vooruit. Beleggers trokken zich op aan de nieuwe recordstanden op Wall Street.
   
   De toonaangevende Nikkei-index in Tokio sloot 0,4 procent in de plus op 21.336,12 punten. Het was de elfde winstdag op rij voor de Japanse hoofdindex. Dat is de langste winstreeks sinds mei 2015. Het Japanse telecomconcern Softbank daalde 1 procent. Beleggers namen wat winst in het aandeel na de sterke recente koersstijging.
   
   Het geplaagde Kobe Steel toonde wat herstel en steeg ruim 3 procent. Het Japanse staalconcern, dat heeft gesjoemeld met de uitkomsten van kwaliteitsinspecties van veel van zijn producten, zakte maandag nog tot het laagste niveau in vijf jaar.
   
   De All Ordinaries in Sydney ging 0,7 procent hoger de handel uit en de Kospi in Seoul klom 0,3 procent. In Hongkong dikte de Hang Seng-index tussentijds 0,3 procent aan.
   
   www.iex.nl/Nieuws/ANP-171017-044/Japa...
3. voda 17 oktober 2017 16:55

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   worldsteel Short Range Outlook 2017/2018
   
   16 October 2017 Brussels, Belgium
   
   Moderate but continued growth expected for global steel demand
   The World Steel Association (worldsteel) today released its October 2017 Short Range Outlook (SRO). worldsteel forecasts global steel demand will reach 1,622.1 Mt in 2017. In 2018, it is forecast that global steel demand will reach 1,648.1 Mt. worldsteel forecasts that global steel demand excluding China will reach 856.4 Mt, an increase of 2.6% in 2017 and 882.4 Mt, an increase of 3.0% in 2018.
   * Please see A special note on China below.
   
   Commenting on the outlook, Mr T.V. Narendran, Chairman of the worldsteel Economics Committee said, “progress in the global steel market this year to date has been encouraging. We have seen the cyclical upturn broadening and firming throughout the year, leading to better than expected performances for both developed and developing economies, although the MENA region and Turkey have been an exception.
   
   The risks to the global economy that we referred to in our April 2017 outlook, such as rising populism/protectionism, US policy shifts, EU election uncertainties and China deceleration, although remaining, have to some extent abated. This leads us to conclude that we now see the best balance of risks since the 2008 economic crisis. However, escalating geopolitical tension in the Korean peninsula, China’s debt problem and rising protectionism in many locations continue to remain risk factors.
    
   In 2018, we expect global growth to moderate, mainly due to slower growth in China, while in the rest of the world, steel demand will continue to maintain its current momentum. 
    
   So, world steel demand is recovering well, driven largely by cyclical factors rather than structural. The lack of a strong growth engine to replace China and a long term decline in steel intensity due to technological and environmental factors will continue to weigh on steel demand in the future.”
    
   *A special note on China:
    
   China closed most of its outdated induction furnaces in 2017, a category which was generally not captured in official statistics. With closure of the induction furnaces, the demand from this sector of the market is now satisfied by mainstream steel makers and therefore captured in the official statistics in 2017. Consequently, the nominal growth rate for steel demand in China increased to 12.4% or 765.7 Mt. Disregarding this statistical base effect worldsteel expects that the underlying growth rate of China’s steel demand for 2017 will be 3%, which will make the corresponding global growth rate 2.8%.
    
   Global economic momentum bodes well for steel demand growth in the short term
    
   Both advanced and developing economies are exhibiting stronger economic momentum this year. Confidence and investment sentiments are improving in a large part of the world despite some financial market volatility and growing concern of stock market overvaluation.
   
   Also on a positive note, global trade is gaining momentum despite worries about rising protectionism and talks of rearranging existing free trade agreements.
    
   Developed economies gain strong foothold for recovery
   
   The US economy continues to exhibit robust fundamentals supported by strong consumer spending and rising business confidence. Concern about tensions within the EU particularly over migration policies is receding and the EU economic recovery is broadening. Japanese steel demand is showing better than expected performance benefitting from the government stimulus package, improving exports and preparations for the 2020 Olympic games. South Korea’s steel demand is suffering from high consumer debts, weakening construction and a depressed shipbuilding sector, while escalated tension around the North Korean nuclear weapons threat poses a serious and highly unpredictable risk.
   
   With these generally favourable developments steel demand in the developed economies is expected to increase by 2.3% in 2017 and 0.9% in 2018.
    
   China
   
   The Chinese economy, which has been gradually decelerating, is increasingly supported by consumption while investment continues to decelerate. However, government stimuli, particularly a moderate boost to the construction programme, contributed to increased GDP growth in 2017.
   
   China’s steel demand is expected to increase by 3.0% in 2017, an upward revision over the previous forecast. The recent closure of induction furnaces will lead to a one-off jump in measured steel use in 2017 to 12.4% (please see A special note on China above).
   
   The outlook for China’s steel demand in 2018 remains subdued, showing no growth over 2017 as the government resumes and strengthens its efforts on economic rebalancing and environmental protection.
    
   Developing countries are benefitting from the global recovery and economic reforms, but to varying degrees
   
   Developing countries benefit from a strengthening global economy. The reform agendas in many developing countries such as Egypt, Brazil, Argentina, Mexico and India are expected to enhance their growth potential over time.
   
   India had a slowdown in economic activity in 2017, but accelerating government reforms are expected to bring about a better investment environment leading to growth in the coming years. Investment activities are still driven by government initiatives and private sector investment is still restrained due to leveraged corporate balance sheets.
   
   ASEAN remains a high growth region, especially Vietnam and the Philippines, while more mature economies such as Thailand and Malaysia are showing slower growth.
   
   In the CIS steel demand is expected to strengthen in 2017-2018 and specifically Russia is likely to maintain its slow recovery.
   
   Turkish steel demand is expected to resume growth momentum in 2018.
   
   The MENA region’s outlook has suffered from low oil prices, geopolitical strife and high inflation. The region would benefit from reconstruction efforts once the major conflicts are ended. GCC countries continue to struggle with the low oil price environment.
   
   Countries in South America have been slow so far to benefit from the recovery in the global economy. In Brazil continuing depressed construction activity has held demand recovery back in 2017 but a stronger recovery is expected in 2018.
   
   Steel demand in the developing economies excluding China is expected to grow by 2.8% in 2017 and 4.9 % in 2018.
    
   The construction and machinery sectors are likely to benefit from improving investment sentiments while the automotive sector might moderate
   
   The construction sector in the developed economies, which had been slow to recover from its collapse after the 2008 economic crisis, is now showing more positive signs both in the residential and commercial sectors due to rising incomes and improving investment sentiments. Infrastructure investment, which has been driving steel demand in developing countries, is likely to get some additional support from the developed world’s infrastructure renewal initiatives.
   
   The global automotive sector is reporting a strong performance in 2017 with an especially strong performance in Turkey and Mexico. However, in the US and China the auto sector could moderate and this trend is likely to extend to other countries in 2018.
   
   # Ends #
   
   Notes to Editors:
   The World Steel Association (worldsteel) is one of the largest and most dynamic industry associations in the world. worldsteel members represent approximately 85% of the world's steel production, including over 160 steel producers with 9 of the 10 largest steel companies, national and regional steel industry associations, and steel research institutes.
   
   Voor meer info. zie pdf

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4. voda 17 oktober 2017 16:59

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   SAIL supplies special grade steel for INS Kiltan
   
   Once again proudly partnering nation’s ‘Make in India’ drive, Steel Authority of India Ltd. (SAIL) has supplied defence grade DMR 249A steel plates for the indigenously built Anti-Submarine Warfare (ASW) stealth corvette INS – Kiltan which was commissioned into Indian Navy.
   
   Source : Strategic Research Institute

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5. voda 17 oktober 2017 16:59

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   Kobe Steel scandal to hit global manufacturing industry
   Published on Tue, 17 Oct 2017
   
   The Mainichi reported that the recent announcement of data fabrication by Japanese steel giant Kobe Steel Ltd could undermine global confidence in the country's manufacturing industry. Its impact on the industrial community is immeasurable. Kobe Steel said the firm systematically fabricated inspection data on the strength and measurements of aluminum and copper products. Data falsification was found in the firm's core iron and steel businesses as well as in the operations of group companies, and it has been learned that products with fabricated data were shipped to some 500 firms, creating a ceaseless, negative ripple effect.
   
   The seriousness of the scandal is reflected in its spread overseas. Foreign automakers including American auto giant General Motors Co and major aircraft manufacturers have launched probes into the effects of Kobe Steel's misconduct.
   
   Data fabrication was found in a total of roughly 20,000 metric tonnes of aluminum and copper products manufactured at four domestic plants over a period of one year up until August this year. These products were used in a wide variety of items, such as car doors, parts for H-IIA rockets and Japan's Mitsubishi Regional Jet aircraft, as well as defense equipment used by the Self-Defense Forces.
   
   The scandal will not simply end with damage to the reputation of a single company; it has displayed how large a problem can become when it hits a global industry.
   
   The expanding scandal has also highlighted the fact that the problem pervades Kobe Steel as a whole as it has been additionally confirmed that at least one of its group companies was involved in misconduct including data fabrication regarding nine product lines in China and other overseas plants.
   
   Kobe Steel rewrote inspection certificates when shipping aluminum and copper products, making it appear as if they met specifications agreed upon in contracts with its clients. The firm also pretended in its data that it had carried out an adequate number of inspections.
   
   Several dozen plant workers, including those in managerial positions, were involved in the data fabrication and silent approval was given to the practice. Officials said it had been going on for at least 10 years. This is a clear compliance violation and a malicious act. Kobe Steel should fully cooperate with its clients in inspecting the safety of the products it shipped. The company is unlikely to be able to escape the responsibility of covering the cost of such inspections.
   
   Source : The Mainichi
6. voda 17 oktober 2017 17:00

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   Steel Minister urges quality upgradation; timely implementation of SPVs, joint ventures
   
   Union Steel Minister Chaudhary Birender Singh has directed the CMDs of Public Sector Units (PSUs) under the ministry of steel to finalize and implement all SPVs and joint ventures in a time-bound manner, adding that the ramping up of modernized units also has to be completed with all seriousness and commitment within stipulated timelines. The Minister, who chaired the Brainstorming Session with key stakeholders in the steel industry here, remarked that there are pockets of excellence in each plant and unit, which need to be replicated to transform the steel plant into a hallmark of excellence, which, he said, is possible only when the plant is at par with international benchmarks of excellence in production and quality.
   
   He said "To encourage a healthy competition amongst the PSU Steel Plants, the ministry will assess and declare a 'Plant of Excellence' based on overall performance vis-a-vis international standards. I will review the performance at the plant and unit level, and production performance will be closely monitored by the ministry. Responsibility for time and cost overruns will be fixed as a norm from now on, and any genuine difficulties and constraints could be highlighted in such review meetings so that quick remedial action could be taken.”
   
   Mr Singh further said the lack of coordination, one-upmanship, groupism, egocentricity and micro-vision at the Board level not only impacts the company adversely in short term, but also leads to long term harmful consequences. Accountability and responsibility, he said, has to begin from the top, and mechanism for rewarding good performance and disincentives for poor performance should be applicable at all levels.
   
   The meeting was also attended by the Minister of State for Steel-Vishnu Deo Sai, Steel Secretary Dr Aruna Sharma, senior officials from the Ministry, CMDs and other officials from the PSUs under the ministry of steel. (ANI)
   
   Source : ANI
7. voda 17 oktober 2017 17:03

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   US Steel to go ahead with finishing line plant with Kobe Steel
   
   NWI Times reported that US Steel announced in late September it planned to partner with Kobe Steel on a continuous galvanizing line in Ohio was supposed to be a joint venture with the troubled Japanese steelmaker to build a new USD 400 million finishing line for lightweight vehicles in northwest Ohio.
   
   Within less than two weeks, Kobe Steel got swept up in a scandal after it admitted to falsifying data about the quality of some of its aluminum, copper, iron ore and steel products. The company estimates it has shipped substandard products to as many as 500 customers, including copper tube, wire, plane and bullet train makers.
   
   Kobe Steel said in a news release that "Causing this serious matter has brought overwhelming shame to the company. The company deeply regrets this incident and sincerely apologizes for the enormous worry and trouble this incident has caused to its customers and other related parties. The company will report again as further progress of the investigation is made."
   
   US Steel said it still plans to go forward with plans to build a new continuous galvanizing line for advanced high strength steels for the automotive industry at the PRO-TEC Coating Co subsidiary in Leipsic, Ohio.
   
   US Steel spokeswoman Meghan Cox said that "US Steel remains committed to our new Advanced High Strength Steel CGL and bringing solutions to our customers.”
   
   Ms Cox did not specify whether the line would still be built as a joint venture.
   
   Source : NWI Times
8. voda 17 oktober 2017 17:05

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   Recycled steel could herald new era for batteries
   Published on Tue, 17 Oct 2017
   
   Researchers from the Chinese Academy of Sciences and Jilin University have developed an innovative, environmentally friendly method of recycling stainless steel to make novel electrodes for potassium-ion rechargeable batteries.
   
   Source : Strategic Research Institute
9. voda 17 oktober 2017 17:05

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   Brahmani heads for liquidation as TATA steel back out
   
   DNA India reported that with Stemcor affectively scuttling efforts of Tata Steel to buy out its demerged iron ore assets in India, the assets have lost its last remaining lifeline and may soon go into liquidation. Aryan Mining and Trading Corp, controlling the iron ore processing plants in Odisha, part-owned by Stemcor and partly by Indian shareholders, has now approached National Company Law Tribunal to prevent Stemcor from disrupting the asset sale and avoid liquidation.
   
   Saraf Group, a substantial minority shareholder of Aryan Mining, has claimed before NCLT that while they have freed Brahmani from the lenders by paying off their dues, Stemcor is trying to push the company towards liquidation.
   
   DNA Money on October 11 reported about Tata Steel’s pact with Aryan Mining hitting a roadblock following a Calcutta High Court order.
   
   After the publication of the report, Tata Steel on the same day told exchanges that it is no longer pursuing the buyout and its pact has turned void.
   
   “The transaction has not been completed with the long stop date…In absence of clear approvals, the shares couldn’t, in our opinion, be transferred with a clear title,” Tata Steel had said on October 11th 2017 regarding its earlier pact to acquire 100% of Brahmani River Pellets, the owner of the Odisha plants, from Aryan Mining and Trading Corp and other companies in the Moorgate Industries Group at an enterprise value of INR 900 crore.
   
   Why Aryan Mining, which owns 99.99% of Brahmani, has now gone to NCLT against its own subsidiary?
   
   The British mineral trading major owns 73% in Aryan Mining, via Stemcor Iron Ore Holdings which has 27% stake and a Cyprus-registered entity holding another 46%. The balance 27% stake in Brahmani is held by Kolkata-based Sanjay Saraf and other entities.
   
   With a majority control over Aryan, Stemcor has a shareholders’ agreement where a clause gives it an absolute right to take all decisions in relation to Brahmani.
   
   Citing this clause, Stemcor last week got a stay on Aryan Mining trying to sell the assets to suitors.
   
   Following this ruling, Tatas cancelled the pact with Aryan on October 11.
   
   Source : DNA India
10. voda 17 oktober 2017 17:14

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    Andes Iron project in Chile turn down by environmental officials
    
    Independent reported that a waddle of penguins has stopped a USD 2.5 billion (GBP 1.9 billion) mining project in Chile. The creatures, which have been protected since 1990, live in the National Humboldt Penguin Reserve, in the Coquimbo Region, almost 300 miles north of the capital, Santiago.
    
    Andes Iron had planned to build a mine and a port near the site, where it planned to churn out up to 12 million tonnes of copper and ore every year.
    
    But the company's planning permission was challenged by Oceana, a conservation and advocacy organisation.
    
    The National Humboldt Penguin Reserve is made up of the islands of Dama, Choros and Gaviota, a nature trail which attracts whale, sea-lion and penguin watchers.
    
    Oceana argued that a rise in the number ships in the region would put the area at a greater risk of oil spills.
    
    Chilean environmental officials agreed and rejected the plan in March. Andes Iron appealed but its proposal was rejected in August, by ministers concerned about the penguins' welfare.
    
    Source : Independent

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11. voda 17 oktober 2017 17:15

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    India's iron ore output totaled over INR 18K crore in 7 months
    
    PTI reported that India produced INR 18,396 crore worth of iron ore during the first seven months of this year. According to official data, in January, iron ore's contribution to the total value of mineral production was INR 2,657 crore. The following month the contribution was INR 2,763 crore.
    
    In March, it was INR 2,960 crore, April (INR 2,870 crore), May (INR 2,551 crore), June (INR 2,526 crore) and INR 2,069 crore in July. The total value of mineral production (excluding atomic and minor minerals) in the country during July 2017 was INR 18,037 crore.
    
    During January to July 2017 the domestic production of iron ore was at 1,211 lakh tonne, up 12% from 1,082 lakh tonne in the corresponding period last year.
    
    Steel Minister Chaudhary Birender Singh had said recently that India will achieve more than 50 per cent of its 300 million tonne steel production target by 2018-19, assuring stakeholders that there will not be any shortage of raw material such as iron ore for making steel.
    
    Source : PTI

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12. voda 17 oktober 2017 17:20

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    Discovery Metals gets drill permits in Mexico
    Published on Tue, 17 Oct 2017
    
    Discovery Metals Corp announced that it has been granted drill permits for five of its projects from Mexican regulator SEMARNAT (Mexico’s Secretary of Environment and Natural Resources). The Company has option agreements on seven projects (including the five for which permits have just been granted), all located in northern Coahuila State within an historic high-grade and past producing silver-zinc-lead belt. All projects display alteration and mineralization styles suggestive of carbonate-replacement style mineralization, and include numerous historical artisanal workings. The projects have not been explored with modern methods and all are virtually undrilled. The newly granted permits cover the La Kika, Renata, Santa Rosa, La Minerva, and Jemi-Rare projects.
    
    Discovery Metals President and CEO, Mr Taj Singh commented that “This is a significant step for us. Our company came into existence in August, so we are very pleased to have received these permits in such a short time. Our newly-formed team has been working diligently to develop a detailed exploration plan and has prioritized a number of high-impact targets. We expect to be drilling on at least one project before the end of the year.”
    
    The preparation of the application documents for submission to SEMARNAT for Discovery Metals’ other two projects, Puerto Rico and Monclova, is also underway.
    
    Source : Strategic Research Institute
13. voda 17 oktober 2017 17:22

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    Nunavut Inuit call for public hearing on iron mine expansion
    
    Nunatsiaq Online reported that the Qikiqtani Inuit Association and the Hamlet of Pond Inlet have called on the Nunavut Planning Commission to hold a single in-person public hearing in the North Baffin community before the commission considers a land use plan amendment that would allow a new railway and winter shipping route to service the Mary River mine. The call comes by way of public submissions made to the NPC after Baffinland Iron Mines Corp. submitted a proposed amendment to the land use plan, August 31, for the second phase of its iron ore project.
    
    The amendment asks to construct a 110-km railway along the route of the existing tote road between the mine and the Milne Inlet port and to allow winter icebreaking in Milne Inlet and Eclipse Sound so freight can be shipped in December, January and February.
    
    It’s not the first time the mine’s expansion plans have been put before the planning commission.
    
    In 2015, the NPC said the mine’s second phase plans did not conform with the North Baffin Regional Land Use Plan.
    
    But the scope of the project has changed since then and a revised version of the Phase 2 proposal is back before the planning commission.
    
    The QIA, in a submission said the commission can’t responsibly make amendments without first consulting with the community. The seven-page Oct. 2 submission by the QIA to the NPC reads that “Shipping through ice is not akin to shipping in open water. Treating these activities as one and the same is inappropriate. Development of a railway, a unique piece of infrastructure, to facilitate ore transport is not akin to a smaller scale trucking operation on a pre-existing roadway.”
    
    It said that “From QIA’s public consultations, it is very clear that the proposed addition in the marine transportation corridor of ice breaking and the rail route have raised serious concerns.”
    
    Pond Inlet Mayor Joshua Katsak said that members of his hamlet council and residents of his community want to be heard. He wrote that “They think it will have an impact on the breeding season.”
    
    Mr Katsak’s letter states that councillors fear that the mine’s second phase will go on without adequate consultation, and that concerns already expressed about the first phase of the project are not being addressed.
    He wrote that “It impacted our environment and sea. Also, the Inuit employees are decreasing [at the mine]. The community has to be well respected, since there are concerns that are showing up.”
    
    Given those concerns, “it would be inappropriate for the commissioners to make any final determinations without hearing directly from the residents of Pond Inlet,” the QIA said in its submission.
    
    Source : Nunatsiaq Online

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14. voda 18 oktober 2017 16:07

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    Lagere ijzerertsproductie BHP
    
    Outlook gehandhaafd.
    
    (ABM FN-Dow Jones) BHP Billiton heeft in het eerste kwartaal van het gebroken boekjaar minder ijzererts geproduceerd dan een jaar eerder, maar handhaafde wel de verwachtingen. Dit meldde de Australische mijnbouwer woensdag.
    
    BHP merkte op dat een verbeterde productiviteit en recordvolumes bij de Jimblebar-mijn teniet werden gedaan door de impact van gepland onderhoud en lagere voorraden als gevolg van een brand bij een van de mijnen van het concern.
    
    In de periode tot eind september kwam de ijzerertsproductie uit op 55,6 miljoen ton, hetgeen circa drie procent minder was dan een jaar eerder. BHP blijft voor het huidige boekjaar evenwel onverminderd mikken op een productie van 275 miljoen tot 280 miljoen ton, op een volledige basis.
    
    Het aandeel BHP Billiton sloot dinsdag 0,6 procent hoger.
    
    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
15. voda 18 oktober 2017 16:07

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    Amerikaanse toezichthouder beschuldigt Rio Tinto van fraude
    
    Mijnbouwer schetst rooskleuriger beeld activiteiten Mozambique.
    
    (ABM FN-Dow Jones) De Amerikaanse toezichthouder Securities and Exchange Commission heeft Rio Tinto en twee voormalige bestuurders van het bedrijf beschuldigd van fraude in Mozambique.
    
    De mijnbouwer zou de waarde van zijn steenkoolactiviteiten in het Afrikaanse land hebben opgepompt. Volgens de Amerikaanse toezichthouder zouden Rio Tinto, voormalige topman Tom Albanese en voormalig financieel directeur Guy Elliott de accountingsstandaarden hebben genegeerd en beleggers hebben misleid met de waardering van koolafzettingen, die het bedrijf had gekocht voor 3,7 miljard dollar en later heeft verkocht voor slechts 50 miljoen dollar.
    
    De SEC stelde dat de betrokkenen het feit hebben verdoezeld dat de miljardentransactie een mislukking was. Volgens Rio Tino is er geen sprake geweest van fraude en de mijnbouwer gaat, indien nodig in de rechtbank, tegen de claims van de SEC in.
    
    Het aandeel Rio Tinto sloot dinsdag 0,2 procent lager.
    
    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
16. voda 18 oktober 2017 16:20

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    JSW Steel plans to scale up Odisha capacity to 12 million tonne - Report
    
    Business Standard reported that JSW Steel is set to redraw its project design for the mega steel plant proposed in Odisha near Paradip. The company is now keen on 12 million tonnes per annum instead of 10 mtpa mill proposed initially. The report quoted a senior government official with direct knowledge of the matter as saying that “JSW Steel has of late evinced interest to set up a higher capacity steel plant. They have not elaborated on the reasons to go for 12 mtpa project or the technology they are going to introduce.”
    
    Sources close to the development said: JSW Steel has initiated talks with some overseas companies for some technology collaboration for the Odisha project. The top steelmaker is likely to opt for Corex technology for its proposed Odisha steel plant.
    
    The reconfigured project plan with the use of upgraded technology means JSW Steel would settle for a smaller patch of land for the steel mill. Even the Odisha government is not prepared to allot more than 2,700 acres of land- the same patch of land acquired earlier for the now-shelved Posco project, to JSW Steel. In its project proposal submitted to the state government, JSW Steel had asked for 4,500 acres of land for the steel project and associated facilities. It sought the same land which the state-owned Odisha Industrial Infrastructure Development Corporation (Idco) procured from betel vine growers and other farmers. JSW Steel had asked for the transfer of all land parcels at the rate of Rs four lakh per acre.
    
    Source : Business Standard
17. voda 18 oktober 2017 16:20

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    US authorities asks Kobe Steel USA to submit documents on data scandal
    Published on Wed, 18 Oct 2017
    
    On October 16th 2017, Kobe Steel USA Inc, a US subsidiary of Kobe Steel Ltd, received a document from the US judicial administrative authority requesting the production of documents related to non conformity with the specification of products sold by the Company, the US subsidiary or our affiliated companies to U.S. customers. The Company and its subsidiaries will sincerely cooperate with the investigation.
    
    Source : Strategic Research Institute
18. voda 18 oktober 2017 16:21

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    Gerdau may sell US facilities to CMC - Report
    
    Newspaper Valor Econômico reported that Brazilian steelmaker Gerdau SA could raise about BRL 2 billion with the potential sale of its rebar-producing facilities in the United States this year. As per report, Gerdau expects to sell its Rancho Cucamonga, California, Sayreville, New Jersey, and Knoxville, Tennessee, units to US based Commercial Metals Co by the end of the year and that Gerdau’s Jacksonville, Florida, and Beaumont, Texas facilities were also up for sale
    
    The potential deal would help the largest steelmaker in the Americas cut debt, according to the newspaper.
    
    Gerdau said while it does not comment on market rumors, it will maintain its strategy of focusing on more profitable assets.
    
    Gerdau earlier this month agreed to sell a Chilean long steel unit to local firms Matco SA and Ingeniería & Inversiones SA for about out USD 154 million.
    
    Source : Reuters
19. voda 18 oktober 2017 16:21

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    Mexico extends steel tariffs citing global surplus
    
    BNAmericas reported that Mexico extended a tariff on steel imports, citing a continued global production surplus. The 15% tariff, first introduced in October 2015 for 180 days and extended three times previously, will run for a further 180-day period from Tuesday (Oct 17). The tariff, which expired earlier in October, covers 97 steel products from countries with which Mexico has no free trade agreement.
    
    The economy ministry said “While the global steel market has seen modest recovery in 2017, the increased demand has not eliminated the surplus output. Given the continued absence of conditions allowing healthy competition between steel industries of different countries, it is necessary and urgent to continue to impose the tariff on the import of 97 steel products.”
    
    The tariff is seen as a key measure to tackle dumping, a significant threat to Mexico's steel sector, with China seen as a major culprit. It is also seen as underpinning investment in the sector, including projects totaling more than US$2bn recently announced by Ternium and ArcelorMittal.
    
    Source : BNAmericas
20. voda 18 oktober 2017 16:27

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    Chinese steel products exports to Latin America reached to 5.0 million tons during Jan/Aug 2017
    
    China exported to the world 52.6 million tons (Mt) of steel. Of that amount, 5.0 million tons (Mt) were shipped to Latin America.
    
    Chinese steel received by Latin America increased 1% compared with Jan/Aug 2016. The flow to the world contracted 30%.
    The region´s share of Chinese steel exports reached 9.5% (vs. 6.6% in Jan/Aug 2016).
    
    Alacero - Santiago, Chile, October 16, 2017.  Between the first eight months of the year 2017, the total exports of steel from China to the world -including finished (long steel, flat steel and seamless pipes) and steel-derivatives products (wire products and welded tubes)- decreased 30% versus Jan/Aug 2016, reaching 52.6 million tons (Mt). Of this volume, 48.2 Mt were finished steel and 4.3 Mt were steel-derivatives products. 
    
    For its part, the region accounted for 9.5% of total global exports, increasing its participation in 3.6 percentage points versus Jan/Aug 2016 (6.6%) and standing at third place as China’s preferred destination. The region is preceded by South Korea (8.2 Mt, 16% of the global total) and Vietnam (5.4 Mt, 11% of the total).
    
    China shipped 5.0 Mt of steel to Latin America, which 4.4 Mt were finished steel and 562 thousand tons were steel-derivatives products. This volume is 1% higher than the 5.0 Mt (4.4 Mt of finished products and 546 thousand tons of steel-derivatives products) recorded in Jan/Aug 2016.
    
    In the case of steel-derivatives products, the region received 562 thousand tons from China, being the main global destination for these steel, representing 13.0% of the total. The region is followed by the Philippines (281 thousand tons, 6.0% of the total) and India (267 thousand tons, 6.0% of the total).
    
    In August 2017, Latin America received 449 thousand tons of steel from China. Of this volume, 380 thousand tons were finished steel and 68 thousand tons were steel-derivatives products. This total is 40% lower than registered in the previous month which entered 749 thousand tons (670 thousand tons of finished products and 79 thousand tons of derivatives products) and 47.0% lower versus 852 thousand tons from Aug 2016 (774 thousand tons of finished products and 78 thousand tons of derivatives products)
    
    Finished steel imports from China by destination
    The main destinations for Chinese steel (finished + steel-derivatives) in Latin American during Jan/Aug 2017 were: Central America which received 1.0 Mt (20% of the region); Chile with 916 thousand tons (18%); and Peru, 698 thousand tons (14%). 
    
    In this eight months of the year, the countries that increased their imports of Chinese steel (in percentage terms) versus Jan/Aug 2016 were Ecuador (+57%), Dominican Republic (+37%), Brazil (+35%), Argentina (+35%) and Chile (+13%). 
    On the other hand, the countries that have reduce their imports of Chinese steel products versus Jan/Aug 2016 were: Cuba (-50%), Venezuela (-50%) and Paraguay (-19%).   
    
    Imports from China by products
    Flat steel were the main products imported by Latin America from China during Jan/Aug 2017, reaching 3.4 Mt (67% of total). The most relevant products in terms of volume were:
    Other alloyed steel sheets and coils (983 thousand tons, 29% share of flat steel imported from China)
    
    Hot dip galvanized sheet (825 thousand tons, 24%)
    Cold rolled coil (586 thousand tons, 17%)
    Long steel: China exported to Latin America 901 thousand tons (18% of the total), mainly concentrated in:
    Wire rod (473 thousand tons, 52% share of long steels)
    Bars (341 thousands tons, 38% )
    The region received 172 thousand tons of seamless pipes (3% of the total). 
    Meanwhile, steel-derivate products represent 11% of total imports of Chinese steel in the region, with a volume of 562 thousand tons, where: 
    Welded tubes (463 thousands tons)
    Wire (99 thousands tons)
    
    Glossary
    Finished steel: Refers to steel included in one of these 3 groups: Long products (e.g.: reinforcing bars, bars, wire rod, light sections, heavy sections, rails), flat steel (e.g.: sheets and coils, coated sheets, pre-painted, stainless steel, chrome-plate sheets, hot dip galvanized sheet etc.) and seamless tubes.
    
    Steel- derivatives products: Refers to the products that come from finished steel (welded tubes being the most significant item). 
    Central America: Considers Guatemala, Belize, Honduras, El Salvador, Nicaragua, Costa Rica and Panama.
    
    Ton: A unit of weight or volume of sea cargo, equal to a metric ton (1,000 kg).
    About Alacero
    
    Alacero –the Latin American Steel Association– is the organization that brings together the Steel Value Chain of Latin America to promote the values of regional integration, technological innovation, corporate responsibility, excellence in human resources, safe working environments, and social and environmental sustainability. Founded in 1959, Alacero is formed by 49 companies in 12 countries of Latin America, whose production of about 70 million annual tons. Alacero is a Special Consulting Organization to the United Nations and is recognized as International Non-Government Organization by the Republic of Chile, host country of Alacero´s headquarters.
    Contact
    comunicaciones@alacero.org
    (56-2) 2233-0545, ext. 23
    
    Voor grafieken, zie link:
    
    www.alacero.org/en/page/prensa/notici...