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1. voda 9 oktober 2012 16:39

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   Market opens with bang after Golden Week in China
   
   Marvelous Monday saw an amazing price rally in steel market by 2%. Coming on the heels of week long hiatus market started on refreshing note. Drenched in expectancy of rally in the last quarter with supported by slew of stimulus ranging from USD 150 billion infrastructural package and reduction in CRR ratio sentiments flared astonishingly . International economic situation enlivened during the week with lowest unemployment rate at 7.8% in the year and embalming QE3 worth USD 600 billion. Even though EU theatre remained muddled positive indications by the ECB to swap short term securities with 10 year bonds has given fillip to the market.
   
   Shanghai rebar steel futures rose nearly 2% on Monday to the highest in almost two months as Chinese traders returned from a week-long break armed with hopes demand in the world's top consumer will pick up as the economy stabilizes.
   
   Steel's rise suggests prices of raw material iron ore are likely to rebound this week, with Chinese mills also expected to return to the spot market to replenish stocks.
   
   The most active rebar contract for January delivery on the Shanghai Futures Exchange hit a session high of CNY 3668 (USD 580) per tonne, its loftiest since August 17 closing at 1.6% higher than last week at CNY 3656 per tonne.
   
   Resounding rally in finished price soared activity in iron ore market with mills looking for stock replenishment. Earlier major mills had stopped buying as fallout of production cuts to align supply with demand. Iron ore stockpile dipped by 1.5 million tonne from 3rd to 4th week of September to 95 million tonnes.
   
   Daily crude steel production as per latest statistics from the China Iron and Steel Association (CISA), major large and medium steel enterprises produced 1.52million tonnes of crude steel on a daily basis during Sep 11-20, down by 2.73% from the previous 10 days. And it is estimated that China’s average daily crude steel output reached 1.857mln tonnes in mid Sep, down by 2.01%.
   
   
   Source - Strategic Research Institute
   
2. voda 9 oktober 2012 16:42

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   ArcelorMittal to invest in a new AlSi galvanizing line at Florange
   
   ArcelorMittal Florange has recently started test runs at its new galvanizing line in Sainte-Agathe, France.
   
   The line will be used to coat Usibor®, a press-hardened boron steel used in automotive applications.
   
   This news comes six months after the announcement of a EUR 17 million investment in Florange for maintenance work, a new gas holder for the coke plant and the development of other products for the automotive industry.
   
   Usibor® is a press hardened steel with an aluminium silicon (AlSi) coating. This pre coated solution was patented in 1998 by Mouzon (First Alusi coating line) and Fos-Sur-Mer, both in France. Usibor® 1500P was then introduced by our Maizières research and development team in 2003.
   
   Between 2012 and 2016, demand for AlSi is expected to grow by 250%. Given the rapid increase in demand from car makers worldwide, ArcelorMittal is facing the urgent need to increase its production capacity for AlSi coating.
   
   Made of carbon, manganese and boron, Usibor® allows greater quenchability in the hot stamping process and is used mainly in structural and safety applications, including front and rear bumper beams, door reinforcements, windscreen upright reinforcements, b-pillar reinforcements and floor and roof reinforcements.
   
   Thanks to its very high mechanical properties after hot stamping, Usibor® meets the requirements of our automotive customers for lighter vehicles and has therefore been integrated into ArcelorMittal's highly successful S-in motion steel solutions.
   
   The main features of Usibor® 1500P are
   Exceptional fatigue and impact resistance
   High hot formability
   No spring-back on the final parts
   Excellent corrosion resistance
   Substantial thickness and weight reduction
   A significant decrease in the cost of car bodies manufacturing
   
   Source - ArcelorMittal
   
3. voda 9 oktober 2012 16:43

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   ArcelorMittal SA Saldanha plant may get hit by Sishen force majeure
   
   Reuters reported that ArcelorMittal South Africa said that its Saldanha plant could be negatively affected if the force majeure declared by Kumba's Sishen Iron Ore Company lasts more than 1-1/2 weeks.
   
   Source - Reuters
   
4. voda 9 oktober 2012 16:44

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   ILVA to keep biggest furnace active until 2015
   
   ANSA reported that the ILVA steelworks in southern Italy plans to keep one of its blast furnaces operating for another two and a half years, despite a court order for immediate shutdown issued last July to address what prosecutors and judges say is an ongoing environmental disaster endangering the lives of local residents and poisoning the environment.
   
   A calendar of remediation measures at ILVA's Taranto plant shows Blast Furnace 5, the biggest in Europe, will be shut down July 1, 2015 to December 31, 2015 for reconstruction.
   
   Source - ANSA
   
5. voda 9 oktober 2012 16:44

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   General outlook for EU steel industry remains worrying - EFR
   
   With demand 25% below its 2007 level and in light of the current 25% to 30% overcapacity in this sector, the general outlook for the EU steel industry remains worrying, major European recycling organizations lamented at the latest general assembly of the European Ferrous Recovery and Recycling Federation.
   
   European Ferrous Recovery and Recycling Federation said that compared to the same period in 2011, EU crude steel production was 4.5% lower in the first six months of 2012 at 88.986 million tonnes whereas steel scrap use by EU steel mills suffered a smaller decline of 3.4% to 51.39 million tonnes. As a result, steel scrap usage in crude steel increased to around 57%.
   
   At the same time, delegates to the EFR meeting recognized that the closure of some steelworks, mergers and environmental issues represent a serious threat to the steel sector.
   
   According to the federation, these developments led to a significant decrease in order volumes for the EU scrap collection and processing sector. It said that "In consequence, scrap prices dropped, thereby discouraging scrap collection and processing because of little, or sometimes even no margins at all."
   
   Additionally, scrap operators witnessed a considerable reduction of scrap availability. The EFR reasons that "A lower demand in manufactured steel products resulted in less production scrap, and in parallel EU citizens tends to keep steel products longer and consequently less obsolete steel material becomes available."
   
   To make matters worse, surging rebar volumes are currently flooding the Turkish market at prices well below domestic production costs.
   
   Mr Tom Bird president of EFR said that "Now Turkey, the main scrap purchaser, is being squeezed out of its traditional market, the EU markets for steel and steel scrap will undoubtedly be affected."
   
   Source - www.efr2.org
   
6. voda 9 oktober 2012 16:45

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   Italy Govt working hard to save ILVA steel plant - Report
   
   The Italian government said that it is working hard on a deal to keep Europe's largest steel plant open.
   
   Mr Corrado Clini environment minister of Italy said that "We are working on an environmentally integrated authorization. As soon as we have the details, they will be made public."
   
   Ms Susanna Camusso from the CGIL union said that "We can't act on an ultimatum, but certified regulations will set out an investment plan and timings for it to be implemented."
   
   Toxic emissions from the plant have been blamed for abnormal levels of tumors and respiratory disease in the region. Owners ILVA have been given five days to comply with an order to begin shutting down operations at the site in the southern Italian city of Taranto.
   
   The case is a major headache for the government, which must balance demands for a clean up against the need to protect jobs in a region already suffering above average unemployment. The unions are calling for flexibility.
   
   12,000 people are employed directly at the site and another 8000 indirectly. Initial news of the closure in August 2012 brought thousands out onto the streets of Taranto for an angry protest.
   
   Source - Euro News
   
   
7. voda 9 oktober 2012 16:53

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   China to need 55 million tonne extra iron ore in Next Year
   
   According to Mr Paul Gray principal iron ore market analyst with Wood Mackenzie Ltd, China’s additional iron ore requirements in 2013 may total between 45 million tonnes and 55 million tonnes.
   
   Mr Gray said at the 7th EU Iron Ore Conference in Vienna that about 25 million tonnes will be needed to meet increased crude steel production and restocking will account for the remainder.
   
   Source - Bloomberg
   
8. voda 9 oktober 2012 16:54

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   Iron ore prices would not bounce soon - Mr Wood
   
   The West Australian reported that WA's top development mandarin says iron ore prices are unlikely to rebound from USD 100 a tonne in the near term, undercutting more optimistic forecasts from the state's miners and placing a fresh question mark on projects, including Oakajee port.
   
   Department of State Development director general Mr Steve Wood made the comments to the Upper House's Estimates and Financial Operations Committee.
   
   Mr Wood said in the absence of a massive but unlikely new stimulus package in China, which would boost demand for the key steelmaking ingredient, prices would stagnate around, or slightly below, the current USD 104 per tonne for the foreseeable future.
   
   He told “Some would say that the iron ore price has come back to levels that are more historic for the state, and I think that is the case. No one would expect that it's headed back up to the USD 160 per tonne to USD 180per tonne level unless there is a major stimulus package in the Chinese market. My view is that it stays somewhere just above or below the USD 100 per tonne mark.”
   
   However, a raft of miners including Andrew Forrest and Gindalbie's George Jones predict the price will recover to between USD 110 per tonne and US 120 per tonne, giving them a crucial buffer from rising costs.
   
   Analysts suggest that sustained falls below $US100/t will force companies to cut expenditure and will stall prospective projects. It will also hit the state's royalty income.
   
   Source - The West Australian
   
9. voda 9 oktober 2012 22:39

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   Kwartaalverlies voor Alcoa
   Gepubliceerd op 9 okt 2012 om 22:27 | Views: 119
   
   PITTSBURGH (AFN) - Aluminiumproducent Alcoa heeft in derde kwartaal een verlies geboekt van 143 miljoen dollar, circa 111 miljoen euro. Dat maakte het bedrijf dinsdag na de sluiting van de Amerikaanse beurzen bekend. Alcoa zei last te hebben van de lage prijzen voor metaal. In dezelfde periode vorig jaar boekte de onderneming nog een winst van 172 miljoen dollar en analisten hadden er op gerekend dat Alcoa dit ook dit jaar zou evenaren.
   
   De omzet kwam uit op 5,8 miljard dollar. Dat was iets hoger dan de verwachting van analisten.
   
   Alcoa bevestigde de eerder uitgesproken lange-termijnverwachting dat de vraag naar aluminium tussen 2010 en 2010 zal verdubbelen. Het bedrijf zei ook de doelstellingen voor dit jaar te zullen halen.
   
10. [verwijderd] 10 oktober 2012 00:49

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    AMSTERDAM (Dow Jones)--Aluminiumproducent Alcoa Inc. (AA) heeft over het derde kwartaal van 2012 een nettoverlies geleden, onder andere als gevolg van kosten die gerelateerd zijn aan schikkingen met een staatsbedrijf uit Bahrein en de Environmental Protection Agency, hoewel de omzet de verwachting van analisten overtrof.
    De resultaten van het concern zijn daarnaast aangetast door een afname in de aluminiumprijs; een resultaat van een zwakke vraag in Europa, wereldwijde onzekerheden, een overmatige productie en hogere grondstofkosten.
    Alcoa boekte een nettoverlies van $143 miljoen, of $0,13 per aandeel. In dezelfde periode vorig jaar wist Alcoa de winst nog te verdubbelen door hogere volumes en prijzen, en realiseerde toen een winst van $172 miljoen, ofwel $0,15 per aandeel.
    De omzet daalde met 9,1% naar $5,83 miljard. Analisten geraadpleegd door FactSet hadden een omzet van $5,54 miljard voorzien.
    De verslagperiode omvat een item van $175 miljoen, gerelateerd aan de schikking met de Environmental Protection Agency en de afwikkeling van een rechtszaak met Aluminium Bahrain BSC.
    Eerder op dinsdag kwam Alcoa een schikking overeen met Aluminum Bahrain BSC, waarmee een einde kwam aan de vier jaar durende juridische strijd. Alcoa zal $85 miljoen overmaken aan Alba, zoals het productiebedrijf ook wel bekend staat. Van dit bedrag is $40 miljoen opgenomen als kostenpost in het derde kwartaal.
    
    Door Nathalie Tadena. Vertaald en bewerkt door Ellen Proper; Dow Jones Nieuwsdienst: +31-20-5715200; ellen.proper@dowjones.com
    
    (END) Dow Jones Newswires
    October 09, 2012 16:58 ET (20:58 GMT)
    Copyright (c) 2012 Dow Jones & Company, Inc.
    
11. voda 10 oktober 2012 16:57

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    Daily iron ore snapshot for China on October 08
    
    Steel Home reported that mainstream prices of Chinese iron ore averaged CNY 829 per tonne on October 08 the very first trading day after Chinese holiday up CNY 9 from September 29th.Prices in North China’s Hebei, Northeast China’s Liaoning and East China’s Jiangsu rose whilst other markets stabilized.
    
    In Liaoning, market price is speeding its growth. In West Liaoning, Lingyuan steel raises purchase price by CNY 20 to CNY 870, 66% and offers a max CNY 90 in price markup. But suppliers are less motivated than expected due to rises across steel, semis and imported iron ore market.
    
    In East Liaoning, Benxi steel raise purchase price by CNY 20 to CNY 900, 65% fe content. We expect local mills to be more committed to build stocks in preparation for the coming winter. Average Chinese iron ore stocks at Liaoning mills was around 25 days in our survey on September 28, far lower than 1 to 2 month's worthy of stocks they supposed to have at this time.
    
    Imported iron ore market quotations for offshore deliveries to China and port prices picked up in the day. Although part large trading houses did not announce latest price policies, we learnt they have a strong wish for a rise of CNY 50. Enquiries increased significantly in the morning and we see more transactions made.
    
    Source - Steel Home
    
    
    
12. voda 10 oktober 2012 17:03

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    Dit moet de die-hard longers in Staal toch wel wat moed geven!
    
    Chinese import dependence on iron ore set to rise 80% by 2015
    
    China Economic Review reported that China's dependence on imported supplies of iron ore, a raw material for making steel is poised to rise to almost 80% of consumption by 2015.
    
    Mr Paul Gray analyst of the researcher's principal iron ore market said that imports account for about 70% Chinese supply now. He said that the country's medium term import need for the commodity at 50 million tonnes a year.
    
    Source - China Economic Review
    
13. voda 10 oktober 2012 17:03

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    Australia shares end up by 0.5% after iron ore price jump
    
    The Wall Street Journal reported that Australia's share market resumed its recovery from the euro zone sovereign debt crisis, hitting a 14 month high as resources took positive leads from iron ore prices and China's share market.
    
    Fortescue Metals soared 6.5% after spot iron ore jumped 6% on the return of Chinese buyers from Golden Week celebrations and as a strike continued at South Africa's largest iron ore mine. BHP Billiton, Rio Tinto, Newcrest and Woodside Petroleum rose 0.7% to 1.8% helped by a 1.9% rise in China's Shanghai Composite.
    
    However, Oil Search jumped 3.2% after France's total agreed to buy half of Oil Search's interest in exploration licences in the Gulf of Papua region of Papua New Guinea. Acer Energy surged 7.4% after Senex took a 6.4% stake in the company, which is currently the subject of a takeover attempt by Drillsearch Energy.
    
    The benchmark S&P/ASX 200 closed up 0.5% at 4505.3, although share trading volume remained light at AUD 3.3 billion versus the 2011 average of AUD 3.9 billion.
    
    Mr John Milroy adviser of Macquarie Private Wealth investment said that "Our market was pretty solid above the psychological 4500 level. Investors moved into the banks last week after the Reserve Bank of Australia cut interest rates. Now you have the iron ore price surging after China's holidays, so resources are recovering."
    
    Mr Taylor said that "If you start with the premise that we are in a low growth phase for the next 5 years, stocks offering structural growth, or high sustainable dividend yields should remain in demand."
    
    Source - The Wall Street Journal
    
14. voda 11 oktober 2012 16:56

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    Aperam advies omlaag naar hold van buy - ING
    
    
    AMSTERDAM (Dow Jones)--ING heeft het advies op Aperam (056997440.LU) verlaagd naar hold van buy, en ook het koersdoel naar EUR12,50 van EUR13,00, omdat het aandeel recent sterk is gestegen (+40%) door sterke macro-economische cijfers. ING geeft aan ondanks hun positieve oordeel over de levendige kostenbesparingen, en de verwachting dat Aperam zal kunnen profiteren van een meer geconsolideerde Europese markt voor roestvrij staal, weinig ondersteuning te verwachten van de derdekwartaalcijfers van het bedrijf. Woensdag eindigde het aandeel op EUR12,03. (EVG)
    
    
    Dow Jones Nieuwsdienst: +31-20-5715200; amsterdam@dowjones.com
    
    
    
15. voda 11 oktober 2012 17:14

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    7 steel giants bid for ThyssenKrupp steel mills - Report
    
    Reuters, a person close to the process reported that 7 global steel companies have made first round bids for ThyssenKrupp steel mills in Brazil and the United States
    
    As per report following firms have shown interest
    1. ArcelorMittal
    2. US Steel
    3. POSCO
    4. Nucor
    5. JFE Steel Corp
    6. BaoSteel
    7. CSN
    
    It is not immediately clear whether the bidders made offers for just one steel plant or for both mills, which are part of ThyssenKrupp's Steel Americas unit.
    
    But the report added that POSCO, ArcelorMittal, US Steel and JFE declined to comment. BaoSteel had no immediate comment and Nucor was not immediately available.
    
    The plants were meant to give ThyssenKrupp a foothold in the Americas, but the mills have had to struggle with rising costs and sluggish demand. ThyssenKrupp said in May it was considering all options for the loss-making steel mills, including a partnership or a sale, to halt the losses and concentrate on its European business.
    
    Source - Reuters
    
16. voda 11 oktober 2012 17:15

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    Mr LN Mittal eyes cement from Anglo American and Lafarge.
    
    Mr Mark Kleinman of Sky News learns that a string of cement plants and quarries are being bid for by Britain's richest man Mr LN Mittal. Britain's richest man is bidding to take control of a portfolio of assets that would turn him into of the country's biggest construction materials tycoons.
    
    Mr Kleinman said that "I have learned that Mr LN Mittal, whose GBP 12.7 billion fortune was generated largely in steel manufacturing, has thrown his hat into the ring to buy a string of cement plants and quarries put up for sale by Anglo American and Lafarge. The assets are being sold under orders from the Competition Commission to offload them as a pre condition for approving the merger of Tarmac, Anglo’s UK construction business, and Lafarge's UK operation."
    
    His involvement in the auction may, nevertheless, raise eyebrows because Mr Bruno Lafont, the chairman & CEO of Lafarge, is also a board member of ArcelorMittal.
    
    The merger of the Anglo and Lafarge businesses will create an operation with more than 7,000 employees and almost GBP 2 billion of annual turnover.
    
    In a statement in May 2012, the Competition Commission said it wanted to see the asset portfolio sold to a single buyer in order to avoid a diminution of competition in an important industrial market.
    
    Mr Roger Witcomb chairman of the Anglo Lafarge inquiry group said that "A large scale disposal like this is the only way to get a new entrant of sufficient scale to break into the UK cement market and thereby ensure that this joint venture does not damage competition. In bulk cement, there are currently only four UK producers and there is evidence that competition is not as effective as it could be. So, if the joint venture is to go ahead, it is essential to maintain the number of cement producers by bringing in a new player through the sale of the Hope cement plant one of the largest in the country."
    
    It is unclear whether Mr Mittal is interested in all of the assets being sold or whether he will look to join forces with another bidder. Other suitors for the cement plants and quarries are understood to include Breedon Aggregates.
    
    The other major players in the building materials market, which include Heidelberg, owner of Hanson, Aggregate Industries and Cemex, have been ruled out of the auction process on competition grounds.
    
    The sale process is being led by Goldman Sachs and UBS, the investment banks.
    
    An ArcelorMittal spokesman declined to comment.
    
    Source - Sky News
    
17. voda 11 oktober 2012 17:17

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    ArcelorMittal to supply 2000 tonnes of steel for Pakistan tallest skyscraper
    
    ArcelorMittal will supply 2,000 tonnes of steel beams and 72,000 square meter of decking for the Bahria Icon Tower in Karachi.
    
    The EUR 2.8 million order was signed in early September and the first delivery of beams is planned for November 2012. At 260 meters high and with 62 floors, the Bahria Tower will become the tallest building in Pakistan when completed in 2014.
    
    Several ArcelorMittal teams worked together to make the project a reality. The order was taken by DSTC, part of Distribution Solutions’ projects division. Supply is being coordinated by Jean Philippe Patesson global offer sales within Construction Projects, Distribution Solutions International. Local operations were managed by Theodore Mantho, DSTC project manager.
    
    The 2,000 tonnes of W beams will come from ArcelorMittal’s Long Carbon operations in Luxembourg, through ArcelorMittal International, with 72,000 square meters of Cofrastra 56 decking supplied by ArcelorMittal’s Construction France mill in Contrisson. Production of Cofrastra decking is expected to start in October 2012.
    
    Technical support is being jointly provided by Long Carbon Europe, Construction France and Distribution Solutions’ design and engineering office.
    
    Source - ArcelorMittal
    
18. voda 11 oktober 2012 17:24

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    Iron ore stockpiles rise in Chinese ports
    
    Xinhua reported that iron ore stockpiles rose at 25 major Chinese ports during the week ending on October 8.
    
    According to Xinhua's latest iron ore price report released, inventories of imported iron ore at the ports stood at 101.64 million tonnes, up by 360,000 metric tonne week on week.
    
    According to the report, the price index for 63.5% grade iron ore imports fell two points to hit 109 points during the period, while the index for 58% grade imports also retreated two points to stand at 90 points.
    
    The country's steel companies have been burdened with overcapacity and economic pressures since the start of the year, making them reluctant to replenish raw materials and leading to increasing stockpiles at ports.
    
    However, Xinhua analysts said confidence among steel producers will pick up and steel prices will likely rebound slightly in the short-term, as the country approved a series of infrastructure projects last month that will probably create huge demand for building materials including steel and cement.
    
    Xinhua analysts said that along with increases in domestic steel prices, import prices of iron ore are also expected to rise slightly in the short term.
    
    Source - Xinhua
    
19. voda 11 oktober 2012 17:25

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    Japan iron ore imports up by 21.7%
    
    According to statistics released by Japan's Ministry of Finance, Japan's iron ore imports totaled 12.3 million tonnes in August this year, rising by 21.7 percent month on month and up slightly by 0.2% compared to August 2011.
    
    In the first eight months of 2012, Japan's iron ore imports amounted to 88.4 million tonnes, increasing by four percent year on year.
    
    In August this year, Japan's iron ore imports from Australia rose by 2.4% compared to the same month of last year to 8.4 million tonnes, while Brazil exported 2.7 million tonne of iron ore to Japan in August, falling by 15.7% YoY
    
    Source - Steelorbis
    
20. voda 11 oktober 2012 17:58

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    ArcelorMittal Princeton wins NMA Sentinel of Safety Award
    
    The US National Mines Association (NMA) has presented ArcelorMittal Princeton’s Mine no. 40 with a Sentinel of Safety Award for achieving 117,034 employee hours worked without a lost workday injury.
    
    The award was in the “large underground coal” category, for Princeton’s safety record in 2011.
    
    The annual Sentinels of Safety Awards aim to recognise outstanding safety performance, to stimulate greater interest in safety and to encourage the development of more effective accident prevention programmes among the US mineral mining operations.
    
    “Our workers at the ArcelorMittal Princeton Mine no. 40 are an outstanding example of the safety performance that can be reached when we work together. A year without a lost time injury is an important milestone in the journey to Zero. Princeton was one of the first mines to embark on Courageous Leadership and is well on its way to create a sustainable safety culture. Congratulations to all the workers at Princeton who by working together have been recognised as earning this prestigious award,” said Suresh Rajapakse, vice president health, safety, environment, security, and sustainability for Mining.
    
    In receiving this recognition, ArcelorMittal Princeton was considered along with all similar operations that in 2011 reported at least 4,000 employee hours of exposure without a work injury that resulted in lost workdays and that have a no days lost (NDL) injury incidence rate no greater than the national average.
    
    “We congratulate everyone who participated in the exemplary group achievement in the prevention of injuries at Mine no.40. The commitment and dedication you have shown through your outstanding safety performance presents a shining example to all of us,” said Hal Quinn, president and CEO of the NMA.
    
    Source:
    
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