ArcelorMittal LU1598757687

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1. voda 31 maart 2016 16:13

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   Berenberg zet ArcelorMittal op Kopen
   
   Koersdoel verhoogd naar 5,20 euro.
   
   Berenberg heeft het advies voor ArcelorMittal verhoogd van Houden naar Kopen en het koersdoel daarbij opwaarts bijgesteld van 3,40 naar 5,20 euro. Dit bleek donderdag uit een sectorrapport van de Duitse zakenbank.
   
   Analisten van Berenberg hebben vertrouwen in hun ramingen voor dit jaar voor de staalreus. In 2016 zal het bedrijfsresultaat (EBITDA) volgens de marktvorsers uitkomen op 4.951 miljoen dollar en volgend jaar op 5.571 miljoen dollar. De risico's op de korte termijn zijn volgens Berenberg klein. Een seizoensmatige terugval van de vraag in het derde kwartaal van dit jaar, zal volgens de analisten worden opgevangen door een oplopende mondiale staalprijs en minder druk uit China, mede dankzij importheffingen in Europa en Amerika om het dumpen van goedkoop staal tegen te gaan.
   
   Op de langere termijn zal ArcelorMittal volgens Berenberg profiteren van het aantrekken van de economie in Brazilie en Rusland, in combinatie met de kostenbesparingen die de staalreus doorvoert.
   
   Het aandeel ArcelorMittal sloot woensdag op 3,85 euro.
   
   
   Door: ABM Financial News.
   
   
2. voda 31 maart 2016 16:56

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   Nippon Steel & Sumitomo Metal to postpone blast furnace shutdown
   
   Nikkei reported that Nippon Steel & Sumitomo Metal will delay a planned closure of a blast furnace in Fukuoka Prefecture by two years as part of a revised plan to reduce production costs
   
   The Tokyo-based company will also build a new continuous casting facility that will make high-performance steel material, according to the announcement. The moves are estimated to add tens of billions of yen to a project initially pegged at roughly 50 billion yen ($444 million).
   
   Source : Nikkei
3. voda 31 maart 2016 17:00

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   Tata Steel UK - Business Secretary Mr Sajid Javid flies back from Australia
   
   The Mirror reported that UK’s Business Secretary will return from New South Wales to South Wales. His touchdown in Sydney was marred within minutes as it emerged Britain's flailing industry faced losing up to 40,000 jobs. Now Mr Javid is ending his trip at least two days early to return to Britain for crisis meetings.
   
   Mr Javid said “The UK steel industry was absolutely vital for the country. I'm deeply concerned about the situation. I think it's absolutely clear that the UK steel industry is absolutely vital for the country and we will look at all viable options to keep steel making continuing in Port Talbot. At this stage, given the announcement from Tata has just come out, it's important I think we talk to them properly and understand the exact situation and we look at all viable options. I don't think nationalisation is going to be the solution because I think everyone would want a long-term viable solution. And if you look around Europe and elsewhere I think nationalisation is rarely the answer, particularly if you take into account the big challenges the industry faces.”
   
   Source : The Mirror
4. voda 31 maart 2016 17:01

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   Canada probing line pipe imports from China
   
   The Canadian International Trade Tribunal, pursuant to the provisions of section 42 of the Special Import Measures Act, has conducted an inquiry to determine whether the dumping and subsidizing of the subject goods, as defined below have caused injury or are threatening to cause injury to the domestic industry.
   
   The subject goods are defined as follows:
   
   carbon and alloy steel line pipe originating in or exported from the People’s Republic of China, welded or seamless, having an outside diameter from 2.375 inches (60.3 mm) up to and including 24 inches (609.6 mm), including line pipe meeting or supplied to meet any one or several of API 5L, CSA Z245.1, ISO 3183, ASTM A333, ASTM A106, ASTM A53-B or their equivalents, in all grades, whether or not meeting specifications for other end uses (e.g. single-, dual-, or multiple-certified, for use in oil and gas, piling pipe, or other applications), and regardless of end finish (plain ends, beveled ends, threaded ends, or threaded and coupled ends), surface finish (coated or uncoated), wall thickness, or length, excluding galvanized line pipe and excluding stainless steel line pipe (containing 10.5 percent or more by weight of chromium), excluding goods covered by the Canadian International Trade Tribunal’s finding in Inquiry No. NQ-2012-002 and goods covered by the Canadian International Trade Tribunal’s order in Expiry Review No. RR-2012-003.
   
   For greater certainty, the product definition includes unfinished line pipe (including pipe that may or may not already be tested, inspected and/or certified to line pipe specifications) originating in the People’s Republic of China and imported for use in the production or finishing of line pipe meeting final specifications, including outside diameter, grade, wall thickness, length, end finish or surface finish, and non-prime and secondary pipes (“limited service products”).
   
   Further to the Canadian International Trade Tribunal’s inquiry, and following the issuance by the President of the Canada Border Services Agency of final determinations dated February 24, 2016, that the aforementioned goods have been dumped and subsidized, the Canadian International Trade Tribunal hereby finds, pursuant to subsection 43(1) of the Special Import Measures Act, that the dumping and subsidizing of the above-mentioned goods have caused injury to the domestic industry.
   
   Furthermore, the Canadian International Trade Tribunal hereby excludes from its injury finding unfinished seamless carbon or alloy steel line pipe in the form of mother tubes having outside diameters of 184, 197, 210, 235, 260, 286, 328, 350, 368, 377, 394, 402, 419, 426, 450, 475, 480, 500, 521, 530, 560, 585 or 610 mm, in wall thicknesses from 9 mm to 110 mm and in lengths ranging from 7.72 m to 15.24 m, not stenciled as meeting any line pipe product specification, but imported for use in the production, and not solely for finishing, of seamless line pipe made to any one or several of API 5L, CSAZ245.1, ISO 3183, ASTM A333, ASTM A335, ASTM A106, ASTM A53 or their equivalents.
   
   The statement of reasons will be issued within 15 days.
   
   Source : Strategic Research Institute
5. voda 31 maart 2016 17:02

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   Sinosteel signs contract for steel mill at Al Mutun iron ore mine in Bolivia
   
   Latino Fox News reported that Bolivia's government and state-owned Chinese company Sinosteel signed a contract Wednesday for the construction of a steel mill at the massive El Mutun iron-ore mine, a project that will involve an investment outlay of USD 422 million. A Chinese loan will cover 85 percent of the USD 422 million cost of the steel mill, while the Bolivian government will provide the remaining 15 percent.
   
   The plant will have the capacity to process 650,000 tons of raw mineral reserve annually to obtain 250,000 tons of sponge iron and 150,000 tons of construction steel. Of the sponge iron that is produced, roughly 86,000 tons will be exported
   
   Bolivian President Mr Evo Morales attended the signing ceremony in Puerto Suarez, a town on the Andean nation's border with Brazil where the mine is located. Mr Morales said in his speech that Sinosteel must build the mill in 30 months and then remain in the country for a year to provide operational assistance to Bolivian technicians, who also are to receive training at Chinese universities.
   
   The contract marks Bolivia's third attempt in the past 10 years to set up a steel-making facility to process the output from El Mutun. Previous efforts involving Brazilian company EBX and India's Jindal failed.
   
   Source : Latino Fox News
   
6. voda 31 maart 2016 17:03

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   Tata Steel UK - Unfair to say decisions in 2007 were incorrect – Mr Koushik Chatterjee
   
   Business Standard reported that in a press meet, Mr Koushik Chatterjee, Tata Steel's group executive director (finance and corporate), talks about its plan to find a new owner for the unit and factors that led to the current situation.
   
   Edited excerpts
   
   On expectations from UK-government: We are in talks with the UK government. We have been having open, transparent engagement for the past several months. Being the largest manufacturing company, we have always kept them informed of the ground realities. Lately, we have engaged with them on a very intense basis, meeting them almost every week for the past eight weeks. We have been working together to find the most achievable objective under the circumstances and we'll continue to do so. No solution will come overnight. We'll have to consider newer options and any option will be considered to maintain jobs and keep the business going.
   
   On regrets for decision made in 2007: The business strategy is based on the long-term perspective. Then, we were based in an environment where demand conditions were robust in developed countries and the challenges were high when it came to putting up capacities or expanding domestically. No company in any sector had predicted the global financial crisis. Structural demand in Europe went down 30 per cent after 2008. Such changes led to the complete repositioning of the sector. So, it's unfair to say the decision made was incorrect. What happened was what happened to Tata Steel UK and not what happened within Tata Steel UK - and this is an important distinction to make. There were factors that the company could not control.
   
   On finding a new owner: We have an open mind and if divestment is an option, we need to look at it. It is difficult to give a timeline as to by when will we find the buyer as the decision has been taken just few hours back. Our endeavour will be to continue to operate till we find a buyer, but at the same time, given the cash drain we have from this unit, it's important to make this process a time-bound one.
   
   On UK-asset debt burden, earnings: There's no specific debt on the UK business apart from the small working capital churn. The total long-term debt is about €3 billion on the entire UK business. The assets are already impaired in the UK and so the book value is zero to nominal. The units have been Ebitda (earnings before interest, taxes, depreciation and amortisation) negative over the past few quarters. The call to sell the asset has been taken to reduce our exposure and not a valuation exercise. We are looking to contain the risk by sale of this asset.
   
   Source : Business Standard
   
7. voda 31 maart 2016 17:04

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   Evraz welcomes CITT ruling on 'dumped' Chinese steel pipe
   
   Regina Leader-Post reported that Evraz North America is applauding the Canadian International Trade Tribunal (CITT) finding that Canadian producers have been injured due to dumped and subsidized imports of certain line pipe products from China. The decision applies anti-dumping and countervailing duty measures established by the Canada Border Services Agency to restore market-based pricing to Chinese exporters, the company said in a news release Tuesday.
   
   Mr Conrad Winkler, Evraz North America president and CEO, said “Today’s decision allows Canadian pipe manufacturers to compete more effectively in an exceptionally difficult oil and gas market. Evraz and other steel operations continue to be impacted by the flood of unfairly traded line pipe imports. We are eager to compete globally on a level playing field based on actual economics and capabilities, but we cannot compete with government subsidies and dumping practices.”
   
   CITT said on Tuesday “Further to the Canadian International Trade Tribunal’s inquiry, and following the issuance by the president of the Canada Border Services Agency of final determinations dated Feb. 24, 2016, that the aforementioned goods have been dumped and subsidized, the Canadian International Trade Tribunal hereby finds … that the dumping and subsidizing of the above-mentioned goods have caused injury to the domestic industry.”
   
   The Chicago-based company has six production sites located in the U.S. (Portland, Ore., Pueblo, Colo.) and Canada (Regina, Calgary, Camrose and Red Deer). Evraz North America currently employs over 1,800 people in Canada across recycling, steelmaking, and pipe making operations. The company’s Canadian line pipe production facilities are in Camrose and Red Deer, Alta., and Regina.
   
   Source : Regina Leader-Post
8. voda 31 maart 2016 17:06

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   Tata Steel UK - Unions calling for steelmaking to be nationalised
   
   Hartlepool Mail reported that unions call for the steel industry to be nationalised have been brushed aside by a Government minister. The Government is calling on steel giant Tata to give enough time for buyers to be found for its UK business in a bid to save thousands of jobs.
   
   According to workers union the GMB “UK have to look at nationalising the steel industry even if it's only for a short time in order to protect it from failing.” Mr Dave Hulse, national officer of the GMB, said that as the industry saw crisis after crisis it was time for the government to step in. He said “We have to look at nationalising the steel industry, even over a short period of time, to protect the assets. Otherwise, we will end up with the same situation we had with SSI in the North East where the Government badly let everyone down.”
   
   Unite leader Len McCluskey said: “We are now in the grip of an industrial crisis. Decisions taken in the days to come will determine not just the futures of 19,000 workers and their families, across 14 sites, but the very success of this Government’s own economic programme. This is the time for the Government to say categorically, without hesitation, that these assets will be taken into safe-keeping by the nation because without them our economy will not flourish. We are already seeing jobs going in the supply chain because of the uncertainty over Tata’s future - our fear is this will snowball if insecurity is allowed to swirl around our steel sector. The unity of voices - from business to government - to say that temporary nationalisation is the way forward must not be ignored. Such is the scale of the matters before us that the Prime Minister must assume charge of the strategy from here on in. This will send the clear signal to the workforce, the industry and potential buyers that the Government is serious and driven about saving this foundation industry.”
   
   Business minister Anna Soubry said: “We want enough time to be able to secure a buyer. That will take months. Government is considering all options and raised the possibility of management and unions being involved in any future plans. She was not sure nationalising the industry was the right way forward, adding that the focus was on finding a buyer. We have to make sure we find a successful buyer. That is the dream. That is what we want to do. We want to establish a good period so we can sell it on. That is our priority, to look for a buyer. But we are being realistic about the state of the industry. There is an absolute determination by the Prime Minister and myself to see steel being made at Port Talbot. I don’t want it split up too much.”
   
   Source : Hartlepool Mail
9. voda 31 maart 2016 22:50

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   Beste lezers,
   
   Om voor mij moverende redenen heb ik besloten om de IEX voorlopig te laten voor wat het is. (Door een IEX actie)( geen ban, noch waarschuwing). Ik weet niet wanneer ik weer terug kom.
   Voorlopig geen nieuwsberichten (van mij dus), noch posts op enkele draden/andere forums.
   
   Ik hoop alleen maar dat de koers (koersen) flink mogen (kunnen?) herstellen.
   
   Tot in de toekomst,
   
   Met vriendelijke groet,
   
   Voda
10. [verwijderd] 1 april 2016 00:40

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    quote:

    voda schreef op 31 maart 2016 22:50:

    Beste lezers,
    
    Om voor mij moverende redenen heb ik besloten om de IEX voorlopig te laten voor wat het is. (Door een IEX actie)( geen ban, noch waarschuwing). Ik weet niet wanneer ik weer terug kom.
    Voorlopig geen nieuwsberichten (van mij dus), noch posts op enkele draden/andere forums.
    
    Ik hoop alleen maar dat de koers (koersen) flink mogen (kunnen?) herstellen.
    
    Tot in de toekomst,
    
    Met vriendelijke groet,
    
    Voda
    

    Jee jammer!! Ik waardeer je post enorm. Ga je missen!
    
11. herbie bell 1 april 2016 14:48

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    RPT-Tata's UK steel exit raises expectations of European mergers
    
    09:02 (31/03) - Bron: RTRS
    
    (Repeats Wednesday item)
    * European steel consolidation seen making a lot of sense
    * Shedding UK could enable Tata Europe-Thyssenkrupp merger
    * Consolidation waves seen at times of distress or
    empire-building
    
    By Georgina Prodhan
    FRANKFURT, March 30 (Reuters) - Tata Steel's plan
    to sell its British steelmaking business has raised expectations
    of a long-awaited consolidation in the European steel sector,
    which is suffering from years of unaddressed overcapacity.
    
    Since the multi-billion-euro takeovers of Europe's Arcelor
    and Corus by Indian giants Mittal and Tata in 2006 and 2007,
    dealmaking in Europe's steel industry has been all but paralysed
    as cash-starved producers battled the global economic crisis and
    a slowdown in China that encouraged it to export cheap steel.
    Lacking the means to consolidate further, which would have
    brought capacity reductions, Europe's steel mill owners
    continued to produce more than was needed, trying to protect
    their market share and jobs but feeding into a vicious circle of
    gluts and falling prices.
    At stake is an EU industry with annual turnover of about 170
    billion euros ($193 billion) that directly employs 330,000
    people, with many times that number in manufacturing industries dependent on it for a living.
    "The consolidation of the steel sector in Europe makes tons
    of sense but the problem is that the industry has waited for so
    long and the crisis is so big that you are dealing with
    businesses which are really cash flow-negative," said a
    London-based metals and mining banker who asked not to be named
    because he is not authorised to speak publicly.
    Now, Tata at least has reached a pain point that it says
    forced it to act, even if this could mean shutting down the
    British operations it has spent almost a decade trying to turn
    around if it fails to find a buyer.
    Tata said it had extended "substantial financial support" to
    its UK business, which employs about 15,000 people, and written
    its assets down by more than 2 billion pounds ($2.9 billion).
    "Selling over running it at a loss may clearly be a priority
    for Tata. If nobody comes they will shut it down," said
    Berenberg analyst Alessandro Abate.
    
    OPPORTUNITIES
    Initial interest from potential buyers appeared muted, with
    the business seen as unattractive because of Britain's
    vulnerability to cheap Chinese imports, its high energy prices
    and the cost of transporting steel to customers in continental
    Europe, as well as a disadvantageous exchange rate for exports.
    But severing its cash-bleeding British operations one way or
    another would allow Tata to seek a partner such as Germany's
    Thyssenkrupp TKAG.DE for its profitable Dutch business - a
    combination that would create Europe's second-biggest steelmaker
    after ArcelorMittal ISPA.AS .
    Thyssenkrupp has signalled clearly in recent months it would
    like to combine its European steel operations with those of
    another player - as long as it does not involve spending cash.
    "We have always had over the last years overcapacity in the
    European sector and this definitely needs to be addressed and
    therefore we think there are opportunities," Chief Financial
    Officer Guido Kerkhoff told analysts on a call last month.
    "Combinations could address that issue, and therefore be
    value-accretive overall."
    Such a merger would support prices for other European
    players such as ArcelorMittal, Salzgitter SZGG.DE and
    Voestalpine VOES.VI - a development that could strengthen
    their hand to pursue their own acquisitions.
    "Tata Steel's exit from the UK might spark European
    consolidation in the steel space," Berenberg bank wrote in a
    note. European steel stocks rose on Wednesday on the news of
    Tata's move.
    
    But Seth Rosenfeld, a steel analyst at Jefferies, was
    sceptical.
    "Unfortunately, if other steelmakers gain in terms of higher
    prices thanks to consolidation, this may only provide them more
    headroom to maintain the status quo for years to come," he said.
    "This is an industry that has seen waves of consolidation in
    times of either extreme distress or empire building. This
    environment is neither."
    A successful sale could depend on sweeteners that Tata or
    the British government may be prepared to offer, said
    commodities trader Liberty House, which last week agreed to buy
    two of Tata's Scottish plants.
    A spokesman said the firm was potentially interested in the
    slab processing operations but not the more commoditised iron
    and steelmaking activities. "We are waiting to see what sale
    proposal is on the table before deciding whether to bid for any
    of the assets," he said.
    ($1 = 0.8828 euros)
    ($1 = 0.6956 pounds)
    
    (Additional reporting by Clara Denina, Freya Berry and Tom
    Pfeiffer in London; editing by David Stamp)
    ((georgina.prodhan@thomsonreuters.com; +49 69 7565 1279;
    Reuters Messaging:
    georgina.prodhan.thomsonreuters.com@reuters.net))
    
    
    
12. herbie bell 1 april 2016 14:49

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    quote:

    voda schreef op 31 maart 2016 22:50:

    Beste lezers,
    
    Om voor mij moverende redenen heb ik besloten om de IEX voorlopig te laten voor wat het is. (Door een IEX actie)( geen ban, noch waarschuwing). Ik weet niet wanneer ik weer terug kom.
    Voorlopig geen nieuwsberichten (van mij dus), noch posts op enkele draden/andere forums.
    
    Ik hoop alleen maar dat de koers (koersen) flink mogen (kunnen?) herstellen.
    
    Tot in de toekomst,
    
    Met vriendelijke groet,
    
    Voda
    

    vind het ook jammer..
    Sinds je gestopt bent met posten is Arcelor mittal aan het stijgen. ooit was het anders.
13. [verwijderd] 7 april 2016 23:05

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    quote:

    herbie bel schreef op 1 april 2016 14:49:

    [...]
    
    vind het ook jammer..
    Sinds je gestopt bent met posten is Arcelor mittal aan het stijgen. ooit was het anders.
    

    Ik denk dat hij net als andere keren gewoon vakantie heeft, gebeurde wel vaker stoppen en als de vakantie voorbij is weer verder.
    
14. Robeke 9 april 2016 09:08

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    Ik vind het ok jammer en vrees dat het met auteursrechten te maken heeft of zo iets. Succes Voda (Hans) en bedankt voor alles.
15. [verwijderd] 11 april 2016 21:52

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    Héél erg slim bezig, dit bedrijf!
    
    ArcelorMittal wil obligaties terugkopen
    
    Staalbedrijf gebruikt opbrengst claimemissie om schulden af te lossen.
    
    ArcelorMittal heeft een bod uitgebracht op een aantal uitstaande obligaties, nadat de onderneming recent met een claimemissie 3 miljard euro heeft opgehaald. Dit meldde de staalreus maandag.
    
    ArcelorMittal wil drie obligaties uit de markt halen. Het betreft de obligatie die aflost in 2018, met een coupon van 6,125 procent. Onder deze obligatie staat momenteel nog 1,5 miljard dollar uit. De tweede lening die het staalbedrijf wil terugkopen heeft 1 miljard euro opgebracht en lost af in 2017. Hier is de coupon 4,625 procent. De laatste lening loopt tot 2018 en heeft een uitstaand bedrag van 500 miljoen euro, tegen een rentevergoeding van 4,5 procent.
    
    Begin februari liet de onderneming weten dat de opbrengst van de claimemissie zou worden gebruikt om de schuldenlast te verminderen en de balans te versterken.
    
    Op een groen Damrak noteerde het aandeel ArcelorMittal maandagmiddag 6,9 procent hoger op 4,32 euro.
    
    
    Door ABM Financial News. Info@abmfn.nl: +31(0)20-26 28 999
16. voda 13 april 2016 16:26

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    Nee, niet doen waarde heer L. Mittal!!
    
    Beursblik: ArcelorMittal meest logische koper voor ILVA
    
    Deadline voor biedingen op Italiaanse staalfabriek verloopt op 23 mei.
    
    
    ArcelorMittal is de meest logische kandidaat om de noodlijdende Italiaanse staalfabriek ILVA over te nemen. Dit schreven analisten van Berenberg woensdag.
    
    Naast ArcelorMittal noemde de Duitse zakenbank ook het Turkse Eregli een geschikte kandidaat en in mindere mate ook Arvedi. Eregli wordt gesteund door Turkse pensioenfondsen en bezit daarnaast veel kennis van de Italiaanse staalmarkt. Maar de marktvorsers achten het logischer dat ArcelorMittal ILVA koopt, hetgeen de staalfabrikant met een notering op het Damrak significante synergievoordelen zal opleveren.
    
    De grootste staalproducent ter wereld zou met de overname volgens Berenberg zijn Europese bezittingen verder kunnen optimaliseren, waardoor de volatiliteit in de Europese staalprijzen afneemt en ArcelorMittal zelfs hogere prijzen zou kunnen bedingen.
    
    ILVA zal aan de andere kant ook profiteren van een overname door ArcelorMittal, aldus de analisten. Het onmiddellijke positieve effect van de eventuele overname op de bezettingsgraad van ILVA zou tot een hogere operationele kasstroom voor de Italianen leiden.
    
    Strenge milieuregels zouden volgens Berenberg ArcelorMittal van een acquisitie van ILVA kunnen weerhouden. Tevens heeft de onderneming net 3 miljard dollar opgehaald met nieuwe aandelen, wat officieel bedoeld is om de grote schulden van de staalonderneming terug te brengen. Een bod op ILVA zou volgens de marktvorsers lastig te rechtvaardigen zijn, omdat dit juist weer een uitstroom van kapitaal betekent. Aan de andere kant heeft ArcelorMittal recent ook kapitaal binnengehaald met de verkoop van bezittingen die niet meer tot de kern behoorden, zo merken de marktvorsers op. ArcelorMittal verkocht recent onder meer Gestamp voor circa 1 miljard dollar.
    
    Hoewel beleggers in eerste instantie negatief reageerden op de mogelijke overname van ILVA, zou dit volgens Berenberg kunnen veranderen naarmate de staalprijzen aantrekken. Als ArcelorMittal vervolgens de verwachtingen voor het bedrijfsresultaat (EBITDA) verhoogt, dan zou de markt volgens de analisten nog enthousiaster kunnen worden. De zakenbank voorziet dat de staalreus bij de komende kwartaalcijfers op 6 mei de outlook zal verhogen. Geïnteresseerde partijen hebben tot 23 mei de tijd om een bod in te dienen op de Italiaanse staalfabriek.
    
    Berenberg heeft een koopadvies op ArcelorMittal met een koersdoel van 5,20 euro. Op een groen Damrak noteerde het aandeel 8,5 procent hoger op 4,87 euro.
    
    
    Door ABM Financial News. Info@abmfn.nl: +31(0)20-26 28 999
    
    
17. voda 13 april 2016 16:28

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    Fractionele krimp wereldwijde staalvraag voorzien
    
    In 2017 weer groei voorzien door World Steel Association.
    
    
    De mondiale vraag naar staal zal dit jaar opnieuw dalen, maar in een lager tempo dan in 2015. Dit is de verwachting van de World Steel Association.
    
    Voorzitter TV Narendan wees op de aanhoudende uitdagende omstandigheden voor de staalsector, met name door de groeivertraging in China. Dit jaar zal, in tegenstelling tot China, de vraag naar staal in andere regio's, zoals Noord-Amerika, Mexico en de Europese Unie "langzaam maar geleidelijk" toenemen.
    
    De brancheorganisatie verwacht dat de mondiale vraag naar staal dit jaar met 0,8 procent krimpt, nadat de vraag in 2015 nog met 3,0 procent terugliep.
    
    In 2017 zal de vraag echter weer groeien, zo voorziet de World Steel Association, met 0,4 procent. Alle regio's wereldwijd zullen daaraan bijdragen, met uitzondering van China. Exclusief de groeikrimp in China rekent de brancheorganisatie zelfs op een groeiversnelling van 3,0 procent voor volgend jaar.
    
    Voor de Europese Unie voorziet de World Steel Association "een mild herstel" van de vraag. Dit jaar zal de vraag volgens de brancheorganisatie met 1,4 procent stijgen en in 2017 met 1,7 procent.
    
    
    Door ABM Financial News. Info@abmfn.nl: +31(0)20-26 28 999
    
    
18. voda 13 april 2016 16:38

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    Beursblik: Joint venture staaltak ThyssenKrupp en Tata Steel IJmuiden zou positief zijn
    
    Combinatie zou begin zijn van noodzakelijke consolidatie Europese staalsector.
    
    Een joint venture tussen de staaldivisie van ThyssenKrupp en Tata Steel IJmuiden zou positief zijn voor beide bedrijven en zou het begin betekenen van de noodzakelijke consolidatie in de Europese staalsector. Dit schreven analisten van UBS woensdag.
    
    Tata Steel liet recentelijk weten zijn Britse staalactiviteiten in de etalage te willen zetten en sommige analisten concludeerden hieruit dat een joint venture tussen de staaldivisie van het Duitse ThyssenKrupp en de staalfabriek van Tata in IJmuiden hierdoor tot de mogelijkheden behoort. De marktvorsers van UBS berekenden dat een dergelijk scenario 3,30 euro zou toevoegen aan de waardering van ThyssenKrupp.
    
    De Zwitserse bank stelde woensdag in het rapport dat een verkoop van de Britse onderdelen positief zou zijn voor Tata Steel, omdat de onderneming hierdoor zes jaren van verslechterende schuldratio's achter zich kan laten. ThyssenKrupp heeft bovendien geen interesse in het VK, dus wil Tata samengaan met de Duitsers dan is een verkoop van de Britse onderdelen noodzakelijk, aldus de analisten.
    
    Wel zou volgens UBS het verkoopproces voor Tata gecompliceerd en waarschijnlijk tijdrovend zijn, vanwege meerdere obstakels zoals pensioenen, vakbonden en het vinden van een koper. Ook de eventuele combinatie van IJmuiden en de Duitse staaldivisie is volgens de analisten en ingewikkeld en zal daarom tijd kosten.
    
    De joint venture zou de op één na grootste staalproducent in Europa creëren en de sector veranderen. Dit zou volgens UBS leiden tot verdere capaciteitsreducties en daarmee positief zijn voor de marges in de staalsector.
    
    Op een groene DAX noteerde het aandeel ThyssenKrupp 4,9 procent hoger op 20,31 euro.
    
    
    Door ABM Financial News. Info@abmfn.nl: +31(0)20-26 28 999
19. voda 13 april 2016 18:43

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    Here we go again! :-)
    
    India Ratings and Research puts Tata Steel on rating watch post business restructuring
    
    India Ratings and Research has placed Tata Steel on ‘rating watch’ following its announcement of restructuring European operations. It said “While cutting down losses by curtailing overseas operations would be a credit positive for TSL, the uncertain timelines associated with this goal could delay the expected recovery in its credit profile.”
    
    The company has placed Tata Steel’s long-term issuer rating on “Rating Watch Evolving (RWE)”. The outlook on its rating was negative.
    
    The agency has also placed the ratings on all of the company’s debt instruments on RWE, which indicates the ratings can be either upgraded, or downgraded or affirmed.
    
    Ind—Ra said the decision to place the ratings on RWE follows the company’s announcement that it is exploring options for restructuring its loss-making European operations, including the potential divestment of the UK operations in whole or in parts.
    
    Ind—Ra’s rating view on the company is on a consolidated basis. The rating approach factors in a one notch uplift for its strong operational and strategic linkages with the Tata Group, it said.
    
    It added the sale of its UK businesses would enable the company to reduce losses substantially. However, its execution will determine the extent of recovery in Tata Steel’s credit profile.
    
    “The extent to which the UK businesses will be divested, the timeline over which this is achieved, the amount realised from such divestiture, the amount by which debt is reduced and deleveraging achieved will be key factors for determining whether any change in the ratings is warranted,” it said.
    
    Ind—Ra said it expects to resolve the rating watch by June 2016, by which time it believes that some of the stated objectives will be achieved.
    
    Ind—Ra said Tata Steel has been rationalising its UK workforce to reduce losses in a scenario of weak demand and low steel prices in Europe.
    
    The business environment in FY16 continued to be aggravated by large scale imports of steel from Russia and China, it said.
    
    In third quarter of FY16, it announced the shutting down of its plate business in the UK, with the associated rationalisation of employee strength by around 1,200. The most recent job losses were announced in January 2016 and are likely to involve an estimated 1,050 employees across various steel plants and support functions in the UK, Ind—Ra added.
    
    “Tata Steel is in talks with Greybull Capital LLP (a UK based investment firm) for the sale of its long products business, while also exploring options to reduce additional workforce,” it said.
    
    Ind—Ra said the financial profile of the company has weakened and it essentially stems from the fall in realisations in both domestic and European operations, due to a weak demand together with large global overcapacity overhang, leading to a high level of cheap imports into India as well as Europe.
    
    Source : The Hindu

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20. voda 13 april 2016 18:46

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    GMS update on shipbreaking in China in Week 14 - DEVOID OF SALES!
    
    Despite the recent rally in local steel plate prices, the Chinese ship recycling market remained muted and devoid of international activity for another week.
    
    The gap of USD 150/LDT with the sub-continent markets is unlikely to secure them much of the tonnage in play. Moreover, with a lack of demand for steel and the overall economic slowdown underway, it is unlikely that any fresh steel would be exported.
    
    Government owned vessels (COSCO, China Shipping etc.) that remain eligible for the prevailing state subsidies would continue to be scrapped over the course of the year and this seems likely to be the only tonnage that domestic yards will be seeing for some time in the foreseeable future.
    
    Source : GMS Weekly

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