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1. voda 21 april 2016 17:24

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   Kentucky agrees to offer new incentives to AK Steel
   
   Associated Press reported that a measure to sweeten economic incentives aimed at swaying AK Steel to rejuvenate idled operations at its Ashland steel mill was signed into law last week by Kentucky Gov. Matt Bevin. The measure will extend existing economic development incentives and offer new incentives that West Chester-based AK Steel could draw upon if it met investment and employment benchmarks in resuming the mill operations at Ashland.
   
   Mr Bevin expressed a commitment to work with AK Steel executives and regional leaders to “navigate the current economic challenges” with the goal of resuming mill operations.
   
   Source : Associated Press
   
2. voda 21 april 2016 19:50

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   Interessant artikel!
   
   Sloop van olieplatforms is miljardenmarkt die maar langzaam op gang komt
   
   •Carel Grol
   
   De olieprijs is laag, de Noordzeevelden zijn oud, olieplatforms staan leeg. Sloop van deze enorme gevaartes — naar schatting staat er voor honderd Eiffeltorens aan metaal in de Noordzee — is de groeimarkt bij uitstek in de offshore. Maar de industrie moet er nog even aan wennen.
   
   'Een jaar geleden had onze organisatie 240 leden', zegt Karen Seath, waarnemend directeur van Decom North Sea. Dat is het Brits samenwerkingsverband van alle bedrijven die betrokken zijn bij de sloop van platforms ('decommissioning', in jargon). 'Nu zijn dat er 340.'
   
   Naar schatting staat voor honderd Eiffeltorens aan metaal in de Noordzee. (Foto: Bloomberg)
   
   Olieprijs
   
   Seath is Schotse, Decom North Sea is gevestigd in Aberdeen. Die stad is het hart van de Britse olie-industrie. Alleen al in Aberdeen zijn er 10.000 banen verdwenen door de enorme daling van de olieprijs. 'En dat zijn de officiële statistieken. Volgens sommige schattingen is het nog twee keer zoveel.'
   
   Vorige week was Seath even in Nederland, waar ze in Hoofddorp sprak op een congres van Nederlandse toeleveranciers voor de olie-industrie. Decommissioning spreekt tot de verbeelding. Vrijwel per definitie gaat het over kolossale aantallen: er zijn 600 installaties die moeten worden ontmanteld in de Noordzee, waar 25.000 kilometer aan pijpleidingen liggen die opgeruimd moeten worden.
   
   Alleen al in het Britse deel van de Noordzee worden de kosten de komende dertig jaar geraamd op bijna £ 50 mrd. 'Voor de hele Noordzee gaan de kosten richting de £ 100 mrd', zegt Seath. 'Een paar jaar geleden werd er gerekend op £ 30 mrd.'
   
   Geen gewin
   
   Bedrijven staan niet te springen om te beginnen met het ontmantelen van de platforms. 'Decommissioning is deel van de levenscyclus van een platform. Maar het wel aan het einde', zegt Seath. 'En het is niet de kernactiviteit van en oliemaatschappij.'
   
   Stigma of niet, oliemaatschappijen zijn gewoon bij wet verplicht de platforms te ontmantelen. Ze hebben er ook voor gereserveerd. Door de ontmanteling verdwijnt er een verplichting uit de boeken. Maar de decommissioning levert geen economisch gewin op.
   
   Het ontmantelen van de platforms is duur, en het is een traject dat jaren duurt. 'En oliebedrijven hebben nu een probleem met de kasstroom', zegt Seath. De inkomsten staan flink onder druk door de lage olieprijs. Het verwijderen van platforms wordt uitgesteld. Er zijn wel enkele projecten — onder meer van Shell in het vermaarde Brent-veld — maar het ontmantelen gebeurt nog niet grootschalig. Decom North Sea verwachtte aanvankelijk dat er in 2015 en 2016 al veel gesloopt zou worden. 'Nu rekenen we op een piek in 2018', zegt Seath.
   
   Vies woord
   
   'Het uitstel kost geld', zegt Jan Groot van Platform Brokers, een bedrijf dat adviseert in de sloop van platforms, tegen een zaal vol toeleveranciers. Daaronder zijn veel bedrijven die aanvankelijk vooral voor de reguliere oliewinning werkten, en hun aandacht nu verleggen naar de sloop.
   
   Groot schetst een grimmig beeld van de Noordzee. Oude olievelden zijn slecht gedocumenteerd. Daardoor is het onduidelijk waar de putten die gedicht moeten worden, zich exact bevinden. Oliebedrijven hebben geen, of onvoldoende, geld voor de ontmanteling. Bovendien wordt er al jaren gepraat en gebeurt er weinig. 'In presentaties zie ik al tien jaar dezelfde grafieken. Het enige dat veranderd is, dat zijn de jaartallen.' En de ontmanteling wordt dus steeds doorgeschoven.
   
   Kampt decommissioning met een stigma? 'Voorheen was dat zeker een probleem', zegt Seath. Maar volgens haar verandert dat. Vanuit de politiek is er aandacht voor de ontmanteling van platforms. 'Het is niet langer een vies woord.' Daarbij is het ook gewoon noodzaak dat de verouderde installaties in de Noordzee worden verwijderd, zegt Seath. 'Natuurlijk is dat een enorme uitdaging. Maar we kunnen het niet voor altijd blijven uitstellen.'
   
   Bron: FD.nl
   

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3. voda 21 april 2016 20:08

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   Pakistan’s steel imports to hit USD 2.2 billion as demand jumps - SBP
   
   Internews last week reported that Pakistan’s steel imports could cost the country up to USD 2.2 billion at the end of this fiscal year as demand for the commodity is on the rise amid robust construction activity. The commodity’s imports stood at USD 1.3 billion during the first eight months (July-February) of this fiscal year compared to USD 1.8 billion during the entire FY15.
   
   In a recent report, the State Bank of Pakistan said cheap imports from China and Ukraine has damaged the local production of iron and steel, which fell 8.6 per cent during first half of FY16 compared to a growth of 31 per cent during the same period of FY15.
   
   A significant rise in infrastructure projects in the wake of China-Pakistan Economic Corridor (CPEC) is also expected to accelerate the demand for iron, steel and cement. A detailed research report of Topline Securities said steel usage would be extensive in CPEC-related projects, and could run into millions of tonnes over the subsequent years. Steel would be used in civil works, tail tracks, pipelines (for instance of liquefied natural gas), etc. The CPEC involves $10 billion in infrastructure projects, of which up to 15pc will be used in cement.
   
   As per international standards, every five tonnes of cement used in infrastructure projects require one tonne of steel. This means an increase in domestic sales of 2.1m tonnes of cement during the first half of FY16 would have created demand for an additional 427,000 tonnes of steel during this period. The import unit value of finished steel declined by 13 per cent during July-December 2015-16.
   
   The SBP report said the availability of cheap imports from China and Ukraine hurt private producers in the domestic markets. Falling prices on the global market have increased imports of iron and steel by 20.1 per cent during the first half of this fiscal year, on top of 42 per cent during the same period a year ago.
   
   Source : Internews
   
4. voda 21 april 2016 20:17

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   Chinese steel scrap generation to swell threatening iron ore
   
   Bloomberg reported that as China’s booming middle class junks aging cars and home appliances, the next threat to the world’s ailing iron-ore producers is materializing. In a country that uses more steel than any other, it’s now become about as profitable to make the alloy by melting down scrap metal as it is from iron ore and coal in a traditional furnace, Bloomberg Intelligence calculates. China’s scrap supply will double in the next decade and then accelerate at an even faster rate, according to Morningstar Inc.
   
   Expanded use of recycled metal in China at a time of a global steel surplus means even less demand for the ore. The nation’s ore demand may contract 50 percent by 2040 as steel use dwindles and more recycled metal is used, according to Goldman Sachs Group Inc.
   
   Mr Oliver Ramsbottom, a Tokyo-based partner at McKinsey & Co, said “The scrap wave is coming. There’s no doubt that the iron ore industry is going to be pretty challenged over the next decade at least because you’ve obviously got a lot of supply out there.”
   
   Blast furnaces using coal and iron ore had been the better money-spinners before a fall in scrap prices in 2015 improved the profitability of mini-mills that use electricity to melt down scrap. The cost to China’s mills of producing steel with ore and coal was about 2,130 yuan ($330) a metric ton last year, Bloomberg Intelligence calculates. Electric-arc furnaces. spent about 1,853 yuan a ton. Scrap prices in China tumbled 48 percent last year, outpacing the slump in iron-ore, according to Metal Bulletin Ltd. data.
   
   Electric-arc mills now account for around 60 percent of production in the U.S. and about 50 percent of steelmaking in Europe. The China Association of Metal Scrap Utilization has set a target for 20 percent of the nation’s crude steel output to come from scrap by end of 2020, said Liu Shuzhou, deputy secretary-general of its scrap steel division.
   
   Source : Bloomberg

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5. voda 21 april 2016 20:28

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   Country wise crude steel production in March and Q1
   
   Barring India, Turkey and Ukraine, all other top 10 crude steel producing nations have posted YoY negative growth for Jan-Mar quarter
   
   China’s crude steel production for March 2016 was 70.7 million tonnes, an increase of 2.9% compared to March 2015. Elsewhere in Asia, Japan produced 8.6 million tonnes of crude steel in March 2016, a decrease of -6.8% compared to March 2015. India’s crude steel production was 8.1 million tonnes in March 2016, up by 3.4% on March 2015.
   
   In the EU, Germany produced 3.8 million tonnes of crude steel in March 2016, a decrease of -1.6% compared to March 2015. Italy produced 2.0 million tonnes of crude steel, down by -3.5% on March 2015. France produced 1.1 million tonnes of crude steel, down by -21.4% compared to March 2015.
   
   Turkey’s crude steel production for March 2016 was 2.7 million tonnes, up by 1.3% on March 2015.
   
   In March 2016, Russia produced 6.0 million tonnes of crude steel, down by -2.0% over March 2015. Ukraine produced 2.2 million tonnes of crude steel, up by 28.1% compared to the same month in 2015.
   
   The US produced 6.7 million tonnes of crude steel in March 2016, an increase of 4.9% compared to March 2015.
   
   Brazil’s crude steel production for March 2016 was 2.5 million tonnes, down by -9.5% on March 2015.
   
   Source: World Steel

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6. voda 21 april 2016 20:30

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   Voestalpine bags major contract from Nord Stream 2 pipeline project
   
   Voestalpine has secured a major new contract in the ongoing economically challenging oil and gas industry for the Nord Stream 2 pipeline project between Europe and Russia. After having supplied 170,000 tonnes highest-quality linepipe plates for the first part of the offshore gas pipeline in the Baltic Sea between 2008 and 2010, the Group will now produce several hundred thousand tonnes for Nord Stream 2. The order quantities significantly exceeded expectations, which makes this order the largest one won by voestalpine Grobblech GmbH in the company's history.
   
   Nord Stream is a 1,200 km offshore pipeline transporting natural gas from the Yuzhno-Russkoye natural gas field and neighbouring fields in Siberia via the Baltic Sea to Germany. As such, it plays a major role in securing Europe’s access to natural gas supplies. Between 2008 and 2010, voestalpine Grobblech GmbH, a company belonging to the voestalpine Group’s Steel Division, via its partner OMK, a Russian pipeline specialist and long-term voestalpine partner, supplied 170,000 tonnes of highest-quality linepipe plates for two Nord Stream lines which were completed in 2012.
   
   As this pipeline is running almost at full capacity, having transported around 40 billion cubic meters of gas to the EU through both lines in 2015, construction of Nord Stream 2 with two further pipelines is to go ahead. With the biggest contract in its history voestalpine Grobblech GmbH has now secured the supply for several hundred thousand tonnes of special plate for these pipelines, which will again be handled together with strategic partner OMK between August 2016 and February 2018. OMK has most recently won 33 percent of the total order volume for Nord Stream 2 in a tender issued by the operating company.
   
   In view of today’s highly competitive market environment for investment in the oil and gas industry, this major contract is extremely welcome. It proves once again that voestalpine is seen as a reliable partner when it comes to highest-quality special products for technologically demanding pipeline projects.
   
   Source : Strategic Research Institute
7. voda 21 april 2016 20:32

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   Brazil's steel industry to remain under pressure – Moodys
   
   Brazil's steel industry will continue to struggle through the year, as the nation's poor growth outlook hinders the automotive, construction and capital goods industries, says Moody's Investors Service.
   
   Demand for steel has fallen in Brazil as credit conditions have tightened with rising interest rates and lower disposable incomes. The engineering and homebuilding sectors, which together account for 40% of Brazil's steel consumption, are also facing serious strains.
   
   Compounding the issues in the domestic market, the steelmakers also face a challenging international environment, according to the report "Weak Operating Environment Decreases Credit Quality of All Three Big Steelmakers." Moody's expects overcapacity in the global steel market to persist for several more years, as Chinese steel production remains elevated.
   
   "The short- to medium-term fundamentals for Brazil's steel industry have deteriorated sharply amid the industry's global challenges," said Barbara Mattos a Vice President and Senior Credit Officer.
   
   Moody's has downgraded the three big Brazilian steelmakers - Usinas Siderúrgicas de Minas Gerais (Usiminas, Ca stable), Companhia Siderúrgica Nacional S.A. (CSN, Caa1 negative) and Gerdau S.A. (Ba3 negative) - by several notches each, since the start of the year.
   
   While these producers are working on a range of initiatives to face the challenging operating environment, including cost-saving, reduced capital spending and asset sales, Moody's ratings reflect the uncertainty around their ability to execute their plans quickly and at favorable terms. A persistent market downturn without any prospects of recovery would worsen their credit quality.
   
   Source: Moodys
8. voda 22 april 2016 21:18

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   Anti dumping probe on CR imports from China, Japan, Korea and Ukraine initiated
   
   Business Standard, citing a person privy to the development, reported that on an application filed by JSW Steel, Steel Authority of India and Essar Steel, the Directorate General of Anti-Dumping & Allied Duties has initiated the investigation
   
   A government official confirmed to BS that “We have initiated investigation on CR steel products from China, Japan, Korea and Ukraine.”
   
   Both the anti-dumping applications, for the HR and CR steel products, were sent within a small time interval,” said the source.
   
   While the department of commerce recommends an ADD, it is the finance ministry which levies it. The petitioners should account for at least 25 per cent of total domestic production to appeal for an investigation. The probe normally takes a year and may be extended by six months. Preliminary findings are normally to be made within 60-70 days and a provisional duty may be imposed, for six months and extendable till nine months in certain circumstances.
   
   Source: Business Standard
9. voda 22 april 2016 21:18

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   JISF chief warns that Chinese exports could hit steel price rally
   
   Bloomberg reported that Japan’s steel industry is concerned that rising exports from China will nip an Asian steel rally in the bud, just as mills had begun to benefit from the gains in price as China’s March steel exports surged 30 percent to their highest level for the year, having already hit a record in 2015, as mills expanded output to all-time highs to take advantage of a more-than 50 percent surge in domestic steel prices in 2016.
   
   Japan Iron and Steel Federation Chairman and president of JFE Mr Koji Kakigi told reporters on Thursday in Tokyo that “Those exports are now a concern. At issue is how long the current price increase will last. We are unable to predict how long it will be.”
   
   Mr akigi told the briefing that steel suppliers in Japan had started to see a pickup in export inquiries spurred by earlier output cuts in China.
   
   Source: Boomberg
10. voda 22 april 2016 21:19

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    Zombie steel mills fire up furnaces in China on steelprice recovery
    
    Reuters reported that while the rest of the world’s steel producers may be pressuring Beijing to slash output to reduce a global steel glut, opposite is happening in the steel towns of China. As per report, a rapid rise in local prices this year has seen mills ramp up output andeven “zombie” mills, which stopped production but were not closed down, have been resurrected. Some mills also boosted output ahead of mandated cuts around a major horticultural show later this month in the Tangshan area.
    
    But a survey by Chinese consultancy Custeel showed 68 blast furnaces with an estimated 50 million tonnes of capacity have resumed production. The capacity utilization rate among small Chinese mills has increased to 58 percent from 51 percent in January. At large mills, it has risen to 87 percent from 84 percent, according to a separate survey by consultancy Mysteel. More than 40 million tonnes of capacity out of the 50-60 million tonnes that were shut last year are now back on, said Macquarie
    
    The rise in prices has thrown a lifeline to ‘zombie’ mills, like Shanxi Wenshui Haiwei Steel, which produces 3 million tonnes a year but which halted nearly all production in August. It now plans to resume production soon, a company official said, declining to be named as he’s not authorized to speak publicly.
    
    Another similar-sized company, Jiangsu Shente Steel, stopped production in December but then resumed in March as prices surged, a company official said.
    
    Source: Reuters
    
11. voda 22 april 2016 21:21

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    China cracks whip on banks funding to steel sector
    
    Xinhua reported that Chinese government has ordered its banks to adopt a differentiated approach to loans to companies and individuals affected by the reorganization of the over-capacity steel and coal industries. According to a guideline jointly released by financial regulators including the central bank on Thursday, lenders should ensure they meet reasonable capital demand but halt loans to loss-making enterprises
    
    It said “No credit should be extended to new projects that were not encouraged by current policy.”
    
    The guideline allowed loans to companies capable of repaying debts to be rolled over to help them weather hardships, and it encouraged lending to laid-off workers starting their own businesses.
    
    Banks should help deal with corporate debts and non-performing assets through debt restructuring and bankruptcy liquidation and prevent isolated cases from growing into systemic and regional risks, the guideline said.
    
    The document was released by the People's Bank of China, China Securities Regulatory Commission, China Banking Regulatory Commission and China Insurance Regulatory Commission.
    
    China has already cut crude steel output by 90 million tonnes in recent years and intends to further reduce capacity by 100 million to 150 million tonnes in the coming five years.
    
    Source: Xinhua
12. voda 22 april 2016 21:22

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    British government UK willing to take 25% in Tata Steel UK rescue deal
    
    Belfast Telegraph reported that UK government has offered to take a 25% stake in Tata Steel's UK business as part of a package of support worth hundreds of millions of pounds. UK and Welsh governments announced that the money will be made available on commercial terms to potential buyers of the company
    
    It is expected that all, or the large majority, of the support package, will be through the provision of debt financing.
    
    Other options include providing hybrid (convertible debt) or alternative forms of financing and s upporting a purchaser's financing by taking a minority equity stake of up to 25% to support any sale.
    
    The Government said it was actively working with Tata Steel and the British Steel Pension Scheme's trustees to find a solution that will help minimise its impact on a potential purchaser, and potentially separate it from the business.
    
    Mr Javid said "This Government is committed to supporting the steel industry to secure a long-term, viable future and we are working closely with Tata Steel UK on its process to find a credible buyer. The detail of our commercial funding offer is clear evidence of the extent of that commitment."
    
    First Minister of Wales Carwyn Jones said: "We're committed to supporting any credible bid to secure steel making in Wales. We have worked with the UK Government to put in place this significant package of support and we believe that this will help secure a successful sale of Tata Steel's operations in Wales and the rest of the UK."
    
    In addition to the support package, the UK and Welsh governments said they will also be willing to consider additional grant funding support, for example to support the development of power plant infrastructure, energy efficiency and/or environmental protection measures, R&D and training.
    
    Source: Belfast Telegraph
13. voda 22 april 2016 21:23

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    POSCO operating profit jumps by 94% YoY in Q1
    
    POSCO Group posted an operating profit of KWR 659.8 billion (USD 582 million) in the first quarter, a 93.7 percent increase over the same period last year. The combined net profit also skyrocketed 221.9 percent to KWR 352.5 billion won in the same period, thanks to performance improvements in steel-making and trading businesses. Revenue of POSCO and its key affiliates including POSCO Daewoo, however, fell 10.3 percent to KWR 12.46 trillion won in the January-March period from the previous quarter.
    
    POSCO spokesperson said “The business upturn in the group’s steel-making unit in the first quarter was attributed to product price hikes by Chinese steelmakers and surge in sales of POSCO’s high-value added premium products like the automotive steel products.”
    
    POSCO logged its first-ever net loss of 96 billion won in 2015, due to weak global demand for steel products and adverse currency movements.
    
    As to the performance outlook for 2016, POSCO has set a consolidated sales target of 58.7 billion won.
    
    Source: Posco
14. voda 22 april 2016 21:24

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    Mahindra Intertrade expands Electrical Steel processing operations at Vadodara
    
    In a move that will redefine the manufacture of steel cores for the power distribution segment in India, Mahindra Intertrade has set up a new state of the art, fully automated, high speed lamination line with dual stacking (a first of its kind in India) and a Built-up cores facility at its Electrical Steel Service Centre in Vadodara.
    
    Steel cores, play a crucial role in the power distribution process. This segment is pre-dominantly catered to by unorganized players. Most of these use manual cutting machines, which has an adverse impact on the quality of transformer cores produced. Combining modern technologies with Mahindra Intertrade’s existing manufacturing expertise, this new line will not only automate the process, but will also ensure higher precision, quality and speed of operation.
    
    Mr Sumit Issar MD of Mahindra Intertrade Ltd said “The expansion of our operations at Vadodara is in line with our on-going efforts to play our part in the Government’s Mission of ‘Power for All’. At Mahindra, we are always looking at options to provide the best service to our customers. This expansion will substantially boost the manufacturing capacity at our Vadodara plant and will enable us to meet the demand for built-up cores from the rapidly growing Distribution Transformer market in India.”
    
    Mahindra Intertrade is among the global leaders in electrical steel processing for the higher-end Power transformer segment, and this expansion will establish it as a prominent player in the Distribution Transformer segment in India. Mahindra Intertrade plans to open localised core- building facilities in key markets across India, to further enhance its service to its customers.
    
    Mahindra Intertrade is a wholly owned subsidiary of Mahindra and Mahindra Ltd. Intertrade owns and operates the country’s largest network of independent steel service centres in Automotive, Power and Home Appliance verticals. Intertrade is a leading player in the processing of automotive steel in Western India, and in electrical steel for power and home appliance applications. Mahindra Intertrade operates steel service centres at Pune, Nashik, Vadodara, Bhopal and Chakan, in India, and at Sharjah in the Middle East.
    
    Source:
    
    Mahindra Intertrade
15. voda 22 april 2016 21:25

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    Tata Steel MBO consortium say government plan is a wonderful news
    
    South Wales Evening Post reported that the consortium hoping to buy Tata Steel's UK operations has welcomed news the Government could take a 25 per cent stake after any takeover. They said it gave them more confidence of achieving their goal.
    
    The man leading the consortium, Newport-born Mr Roger Maggs, said: "It's wonderful news and it gives legitimacy to the efforts that other people are making. It shows someone believes in the idea."
    
    He said the management's rescue plan, rejected by Tata in India, could be delivered by 2018 and was "viable".
    
    He met workers at the plant last week and said "The feeling I got from everyone - not what I was expecting - it was obsession with what they were doing, they absolutely love their jobs and I think that's another reason to get stuck in.
    
    Mr Maggs, who was recently appointed chairman of the new Port Talbot Waterfront enterprise zone, has 27 years experience of the metals industry. He worked for Alcan Aluminium globally and is the founder, along with Sir Terry Matthews, of investment firm, Celtic House Venture.
    
    Workers, managers, customers, and Neath Port Talbot Council are represented by the consortium, which includes economists and Swansea Bay City Region chairman Sir Terry.
    
    Source: South Wales Evening Post
    
    
16. voda 22 april 2016 21:27

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    Primetals Technologies receives FAC from Rizhao for the first three Arvedi ESP lines
    
    Chinese steel producer Rizhao Steel Group Co., Ltd (Rizhao) awarded Primetals Technologies the final acceptance certificate (FAC) for three of a total of five Arvedi ESP lines. For two of the lines, the FACs where received in January, for the third one on April 1.
    
    Although the project schedule was very tight, the ambition was to complete all phases on time, what was successfully achieved.
    
    The first two lines were ordered in 2013 and went on stream within 20 and 22 months, respectively. The start-up of ESP plant 3, ordered in 2014, was achieved within 15 months. The lines are designed for a total annual production of 7.65 million metric tons of high quality, ultra-thin hot strip, in widths up to 1,600 millimeters and thicknesses down to 0.8 millimeters. The lines produce carbon steel, high-strength, low-alloy grades, and two-phase steels. The production ranging from 0.8 to 6 mm thickness is now focused on hot strip with a thickness of 0.8 millimeters, leading to production sequences in which more than 50 percent of the products have a thickness of less than one millimeter.
    
    The Arvedi ESP plants enable Rizhao to tap into the attractive domestic and foreign markets for high quality, ultra-thin products. With a length of just 180 meters, the plants are considerably more compact than conventional casting and rolling mills. Energy consumption is up to 45 percent lower than in a conventional casting and rolling process, and CO2 emissions are also significantly lower.
    
    Primetals Technologies was responsible for the engineering of the Arvedi ESP plants, and supplied the mechanical equipment, media systems, technology packages and automation system. The entire line is controlled by an integrated basic automation (level 1) and process automation (level 2). This ensures finely tuned interaction between the casting and rolling processes. The project also included a comprehensive training and support package. This covered not only the theoretical and practical training of the customer's personnel on the existing ESP plant belonging to Acciaieria Arvedi SpA in Cremona, Italy, but also support provided by specialists from Acciaieria Arvedi for starting up and operating the new plants.
    
    Source: Primetals Technologies
17. voda 22 april 2016 21:28

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    ThyssenKrupp to build new ladle furnace in Duisburg
    
    thyssenkrupp’s steel division has awarded contracts for the construction of a ladle furnace in Duisburg. The new furnace will allow the steelmaker to expand its product portfolio to include high-alloy grades. Demand for these special steels is rising, especially from the automotive industry. Around EUR 40 million will be invested in the project at BOF melt shop 2 in Duisburg-Beeckerwerth.
    
    In the steel production process, a ladle furnace is located between the converter and the continuous caster and is used for secondary metallurgy. The new twin ladle furnace in Duisburg will have a capacity of 265 metric tons per treatment. Its main task will be to heat the melt, which will improve the energy efficiency of the production process and reduce operating costs. In addition to the ladle furnace, this project will also include the construction of dedusting and alloying systems in melt shop 2. Alongside the technical innovations, the new unit will be completely encased in soundproofing panels to reduce noise levels and thus enhance working conditions.
    
    Start of construction is planned for fall 2017.
    
    The ladle furnace will be used to treat high-alloy steel grades with an alloy content (e.g. manganese) of more than five percent. The unit will make it possible to optimize cleanness levels and thus improve quality. It will also allow the development and production of innovative high-tech materials such as high-strength, highly durable steel grades for lightweight automotive construction.
    
    Mr Andreas Goss, CEO of thyssenkrupp Steel Europe AG said “This step will enable us to offer innovative new steel grades and thus substantially and sustainably improve our competitive position. Given the uncertainties surrounding the steel sector, the decision to build the ladle furnace was not made lightly,” says Goss. “But at the same time we want to send out a positive signal about the future of the German steel industry and our site.”
    
    Source: ThyssenKrupp
18. voda 22 april 2016 21:36

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    Severstal reports Q1 2016 financial results
    
    PAO Severstal has announced its Q1 2016 financial results for the period ended 31 March 2016.
    
    Q1 2016 vs. Q4 2015 ANALYSIS:
    Group revenue decreased 21.4% q/q to $1,097 million (Q4 2015: $1,396 million). This reflects both a further decline in average selling prices, which started to bottom out in March 2016, and weaker sales volumes at both Russian Steel and Resources;
    
    Despite lower raw materials costs in USD-terms and RUB devaluation having a positive impact on the cost base during the period, group EBITDA declined 31.9% q/q to $273 million (Q4 2015: $401 million) reflecting a sharp decline in average selling prices. The Group EBITDA margin compressed 3.8 ppts q/q to 24.9% (Q4 2015: 28.7%). However, it remains one of the highest in the industry;
    
    Net profit of $270 million (Q4 2015: net loss of $114 million) reflects an FX gain of $175 million and a $4 million impairment of non-current assets. Adjusting for these non-cash items, Severstal would have posted an underlying net profit of $99 million (Q4 2015: $267 million excluding FX losses and non-current assets impairment);
    
    Reflecting unprecedented difficulties in the global steel market with global steel prices reaching their lowest level in the last ten years the Company’s free cash flow turned negative at $32 million (Q4 2015: positive $305 million);
    
    Cash outflow on capex of $119 million was 2.5% lower q/q (Q4 2015: $122 million). Severstal’s FY 2016 capex target is RUB 43 billion, subject to FX fluctuations;
    Recommended dividend payment of 8.25 RUB per share for the three months ended 31 March 2016.
    
    Q1 2016 vs. Q1 2015 ANALYSIS:
    Group revenue decreased 28.3% y/y to $1,097 million (Q1 2015: $1,531 million) primarily impacted by a substantial decline in average selling prices as well as a marginal reduction in sales volumes at both Russian Steel and Resources;
    
    Group EBITDA decreased 53.2% y/y to $273 million (Q1 2015: $583 million) as operational enhancements only partially mitigated lower selling prices;
    Capex of $119 million was 15.5% higher y/y (Q1 2015: $103 million).
    
    FINANCIAL POSITION HIGHLIGHTS:
    
    As at the end of Q1 2016, cash and cash equivalents were at $1,547 million (Q4 2015: $1,647 million) which primarily reflects the negative free cash flow;
    
    Severstal’s gross debt in USD-terms decreased a marginal 0.7% at the end of Q1 2016 to $2,434 million (Q4 2015: $2,452 million);
    
    Reflecting a decline in cash and cash equivalents net debt increased to $887 million at the end of Q1 2016 (Q4 2015: $805 million). The Net Debt/EBITDA ratio increased to 0.5x at the end of Q1 2016 (Q4 2015: 0.4x), which reflects the sharp decline in earnings y/y, but still remains one of the lowest ratios amongst steel companies globally;
    
    Strong liquidity, with $1,547 million in cash and cash equivalents and unused committed credit lines of $625 million, more than covers short-term debt principal requirements of $543 million.
    
    Mr Vadim Larin, CEO of JSC Severstal Management, commented “Before moving on to review our results in the quarter I would like first to reflect on the tragic events of February 2016 and pay tribute to the 31 Severstal employees and five rescue workers who tragically died in the accident at the Severnaya mine. We are providing full support to the families of those affected. At the time of writing, we are working with the authorities to identify the cause of the accident, which has initially been assessed as being caused by geological reasons. One of the Company’s key objectives is to eliminate all fatalities across the business, and health and safety remains a key priority and focus of investment as we strive to ensure tragedies such as this are not repeated. The Company is still considering different options for the mine’s recovery. Meanwhile, the decision on handling the underground fire in the mine by flooding with water was taken. The operation is estimated to last until June 2016. The timeframe for reopening the mine is currently unclear and the Company will provide further updates as soon as information becomes available. As we review the quarter, concerns regarding China’s economic outlook and the lack of growth in global steel demand continue to put pressure on the steel market. While the start of the year appeared to mark the low point in steel prices globally, the subdued picture changed significantly in March 2016 with global hot rolled coil prices rallying more than 40% compared with the previous month. The Company remains consistent in the execution of its stated strategy focusing on customer care and product quality improvement, cost efficiency, and investment optimisation. This, combined with a strong financial position, enables the Company to constantly deliver long-term shareholder value. lthough visibility remains limited, we are seeing resilience in domestic steel demand supported by our flexibility to shift sales between regions, which enables us to target full utilisation.””
    
    Source: Strategic Research Institute

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19. Alterak 23 april 2016 13:03

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    Vakbond wil grote acties in Duitse metaalsector
    
    Met stakingsacties in de Duitse metaal- en elektro-industrie wil de vakbond IG Metall komende week de werkgevers onder druk zetten in de loononderhandelingen.
    De partijen gaan donderdag nog met elkaar om tafel, maar ze hebben zichzelf al zo diep ingegraven dat een snelle oplossing ver weg lijkt.
    
    Vrijdag om middernacht moeten nachtploegen van bedrijven in Beieren en Noordrijn-Westfalen voor zogenoemde waarschuwingsstakingen het werk neerleggen.
    
    De bond eist 5 procent loonsverhoging, maar de werkgevers bieden niet meer dan 0,9 procent. Een aanbod van eenmalig 0,3 procent extra is door de bond als "provocatie" van de hand gewezen. De werkgevers wijzen er op dat de lonen in de afgelopen jaren meer zijn gestegen dan de inflatie en dat de productiviteit nauwelijks is toegenomen.
    
    Door: ANP
20. voda 25 april 2016 16:17

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    Beursblik: ArcelorMittal behaalt flink minder winst
    
    Analistenconcensus voorziet daling operationele winst met een derde in eerste kwartaal.
    
    ArcelorMittal heeft de winstgevendheid in het eerste kwartaal van 2016 stevig zien afnemen. Dit bleek maandag uit de bedrijfsconsensus van de staalreus, waaraan 22 analisten bijdroegen.
    
    De marktvorsers verwachten dat ArcelorMittal afgelopen kwartaal een bedrijfsresultaat (EBITDA) behaalde van 920 miljoen dollar. Dat is ruim 33 procent minder dan het bedrijfsresultaat van 1.378 miljoen dollar in hetzelfde kwartaal een jaar terug.
    
    In het vierde kwartaal van 2015 kwam het bedrijfsresultaat van ArcelorMittal uit op 1.815 miljoen dollar.
    
    Het staalbedrijf maakt de kwartaalcijfers bekend op 6 mei.
    
    Het aandeel ArcelorMittal noteerde aan het eind van de ochtend op een rood Damrak 4,3 procent lager op 4,88 euro.
    
    Door ABM Financial News. Info@abmfn.nl: +31(0)20-26 28 999