ArcelorMittal LU1598757687

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1. voda 16 december 2020 13:26

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   US Section 232 Steel & Aluminium Tariffs Exclusion Process Revised
   
   US Department of Commerce’s Bureau of Industry and Security revised aspects of the process for requesting exclusions from the duties and quantitative limitations on imports of aluminium and steel discussed in three previous interim final rules implementing the exclusion process authorized by the President under Section 232 of the Trade Expansion Act of 1962.
   
   There are three key changes to the exclusion process:
   
   1. The revised rule addresses the need to create a more efficient method for approving exclusions where objections have not been received in the past for certain steel or aluminium articles. This change will result in an estimated immediate decrease of 5,000 exclusion requests annually, resulting in a significant improvement in efficiency, with the possibility of more in the future. Unlike exclusion requests, General Approved Exclusions do not include quantity limits.
   
   2. The revised rule addresses a trend identified by commenters and validated in data reviewed by Commerce that certain exclusion requesters may have requested more volume than they may have needed for their own business purposes compared to past usage. This issue is addressed by adding a new certification requirement for volumes requested.
   
   3. The revised rule addresses an objector concern they were being held to a higher standard than foreign suppliers because of the interpretation that immediately meant the objector needed to be able to provide the steel or aluminium articles within 8 weeks, even though a foreign supplier may not be able to provide the same steel or aluminium article until much longer than 8 weeks.
   
   On March 8 2018, President Trump issued Proclamations 9704 and 9705 imposing duties on imports of aluminium and steel. The Proclamations also authorized the Secretary of Commerce to grant exclusions from the duties if the Secretary determines the steel or aluminium article for which the exclusion is requested is not produced in the United States in a sufficient and reasonably available amount or of a satisfactory quality or should be excluded based upon specific national security considerations and provided authority for the Secretary to issue procedures for exclusion requests.
   
   Source - Strategic Research Institute
2. voda 16 december 2020 13:27

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   US Steel Production Capacity Utilization Climbs to 71% in Week 50
   
   American Iron & Steel Institute announced that in the week ending on December 12, 2020, domestic raw steel production was 1,567,000 net tons while the capability utilization rate was 70.9 percent. Production was 1,815,000 net tons in the week ending December 12, 2019 while the capability utilization then was 78.5 percent. The current week production represents a 13.7 percent decrease from the same period in the previous year. Production for the week ending December 12, 2020 is down 0.8 percent from the previous week ending December 5, 2020 when production was 1,579,000 net tons and the rate of capability utilization was 71.4 percent. Adjusted year-to-date production through December 12, 2020 was 75,332,000 net tons, at a capability utilization rate of 67.3 percent. That is down 18.2 percent from the 92,079,000 net tons during the same period last year, when the capability utilization rate was 79.8 percent.
   
   Broken down by districts, here’s production for the week ending December 12, 2020 in thousands of net tons: North East: 144; Great Lakes: 558; Midwest: 165; Southern: 628 and Western: 72 for a total of 1567.
   
   Source - Strategic Research Institute
3. voda 16 december 2020 13:31

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   ArcelorMittal ranked at global leadership level on climate action
   
   Company maintains A- CDP grade for second consecutive year
   
   ArcelorMittal has once again been recognised by CDP for its strong performance in corporate transparency and action on climate change. ArcelorMittal successfully retained its A- score in the 2020 CDP Climate Change assessment, putting the company within the top quartile of all metal smelting, refining and forming companies and the top 10% of the steel industry.
   
   CDP, a not-for-profit charity that runs a global disclosure system for investors, companies, cities, states and regions, scores thousands of companies which disclose climate data through its platform each year. By doing so, the competitive spirit of business to raise ambition and spur action on corporate climate action is harnessed for positive change.
   
   ArcelorMittal’s A- grade is testament to the company’s efforts and contributions towards building a thriving economy that works for people and the planet in the long term. The grade compares favourably to the global average D grade for metal smelting, refining and forming companies, and C grade for the steel sector specifically. ArcelorMittal’s efforts are further reflected in the A grade scores achieved for governance, disclosure of climate related financial risk and opportunities, strategy and planning and emissions reduction initiatives.
   
   Earlier this year, the company announced a group-wide commitment to becoming carbon neutral by 2050, while it is targeting a reduction of 30% by 2030 in its European business. ArcelorMittal recognises the important role of disclosing climate related financial risks and opportunities in achieving this goal, as well as developing the company’s two low-emissions technology pathways, Smart Carbon and Innovative DRI.
   
   Commenting, Brian Aranha, Executive Vice President and Head of Strategy, CTO, R&D, CCM, Global Automotive, Communications and Corporate Responsibility, ArcelorMittal, said:
   
   “Receiving an A- from CDP for the second consecutive year is testament to the significant efforts we are making to lead the industry’s efforts to decarbonise steelmaking. Having previously outlined our commitment to the objectives of the Paris agreement, earlier this year we set ourselves the target of being carbon neutral by 2050. To achieve this, we are developing a broad range of ground-breaking, low-emissions steelmaking technologies, with several industrial-scale projects across our European operations at an advanced stage. Our target is ambitious and will be challenging. Meeting it will require a supportive policy framework, but the progress with have made with our technologies provides us with confidence that we are on the right path.”
   
   The full list of companies assessed, as well as other publicly available climate change scores are available on CDP’s website at: www.cdp.net/en/companies/companies-sc...
   
   corporate.arcelormittal.com/media/new...
4. voda 17 december 2020 15:10

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   Nucor rekent op winststijging
   
   FONDS KOERS VERSCHIL VERSCHIL % BEURS
   Nucor
   $ 56,44 0,00 0,00 % NYSE
   
   (ABM FN-Dow Jones) Nucor verwacht in de laatste maanden van dit jaar meer winst te boeken. Dit maakte de Amerikaanse staalreus donderdagmiddag bekend.
   
   Voor het vierde kwartaal mikt Nucor op een winst per aandeel van 1,15 tot 1,20 dollar. Dat is bijna het dubbele van de 0,63 dollar per aandeel die het in het derde kwartaal verdiende. In de laatste drie maanden van 2019 was de winst 0,35 dollar per aandeel.
   
   Nucor zegt te profiteren van hogere prijzen.
   
   Door de coronacrisis is het volgens Nucor lastig om vooruit te kijken. Maar de recente prijsstijging lijkt er op te duiden dat het positieve sentiment ook in het eerste kwartaal van 2021 doorzet.
   
   Door: ABM Financial News.
   info@abmfn.nl
   Redactie: +31(0)20 26 28 999
   
   © Copyright ABM Financial News B.V. All rights reserved.
5. voda 17 december 2020 15:13

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   AMNS India Chairman Mr Aditya Mittal Shares India Vision
   
   Financial Express reported that ArcelorMittal Nippon Steel India, marking its first anniversary, vowed to become a new type of steel company using its parent’s unmatched technological prowess, innovation and Research and development capabilities, as it marked its first anniversary. AM/NS India Chairman Mr Aditya Mittal in a note to the company’s workmen said “Covid-19 has in no way dampened the long term potential we see for AM/NS India. India is a growing, resilient economy and it will bounce back of this, I have no doubt. Over the last year I have become even more convinced about the potential. We are currently working on further growing our production, and I expect we will be able to provide some further details on how we plan to do this next year. And that is undoubtedly what the vision is.”
   
   Stating that the scale is important and, on that company’s, long term production intentions to reach between 12 and 15 million tonnes of annual production still stands, Mr Mittal said AM/NS India will stand out in India by improving capacity to produce higher added value auto products and introducing other high value products from the ArcelorMittal range. Downstream capabilities will also be developed.
   
   Mittal added “In the short-term, the focus will be on debottlenecking our existing operations so we can increase annual production to around 8.5 million tonnes. We are currently working on further growing our production, and I expect, we will be able to provide some further details on how we plan to do this next year.”
   
   ArcelorMittal and Nippon Steel 60:40 JV AM/NS India had acquired Essar Steel’s Hazira plant for INR 42,785 crore last December through the insolvency route.
   
   Source - Strategic Research Institute

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6. voda 17 december 2020 15:13

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   Coimbatore Foundries Shut Shop as Input Prices Surge
   
   Economic Times reported that about 400 small and tiny foundries in the Coimbatore district of Kerala remained silent as part of their indefinite strike to draw the attention of the Centre to the spiralling price of raw materials since the last two months. The foundries, affiliated to the Coimbatore Tiny and Small Foundry Owners Association, stopped production indefinitely, resulting in a loss of INR 30 crores daily. COSMAFAN President Mr Shiva Shanmughakumar said “The increasing prices would not only affect the foundries but also related industries such as wet grinder, pump and motors, textiles and automobiles, who are the large scale customers of foundry products. The price increase was from 30 to 55 per cent as compared to the period before the lockdown due to the pandemic.”
   
   He added “Moreover, the hoarding by the traders creating artificial scarcity of the materials also contributed to the price hike. The entire industrial sector is seeking the intervention to the Centre to bring down the prices for its survival.”
   
   Meanwhile, the Coimbatore and Tirupur Medium Industries Association with nearly 50,000 units has also given a call to down shutters for a day on to express solidarity with striking foundries. A total of 19 associations of small and medium industries had already staged a demonstration here on Tuesday, urging the Centre to take steps to bring down the price of raw materials.
   
   Source - Strategic Research Institute
7. voda 17 december 2020 15:14

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   Latin American Steel Consumption Reaches Pre Pandemic Levels
   
   Latin American steel association Alacero announced that the growth rate of steel activities continues its upward trend, despite the prospects for an uneven recovery in Latin American countries. In September, consumption totalled 5,025 million tonnes, an increase of 6.4% compared to August. This recovery was mainly leveraged by Brazil, Mexico and Peru, respectively. In the month, flat steel accounted for more than 85% of the recovery in consumption, while longs accounted for 17.5%. Steel consumption reached 14,245 million tonnes in the third quarter, which represents an increase of 15.9% compared to the second quarter.
   
   In October, crude steel production totalled 5,058 million tonnes, an increase of 1.7% compared to the same month of 2019. In this period, Altos Hornos production grew 4.8%, to 2,546 million tonnes, compared to September, while Electric Furnaces reached 2,512 million tonnes, a recovery of 10.2% compared to the previous month. Regarding rolled products, October production reached 4,438 million tonnes, which represents an increase of 8.1% compared to September and 2.6% compared to October 2019. The production of seamless tubes had the highest growth of 26%, followed by flats, with an increase of 8.4%, and longs with 7.3%.
   
   Exports played an important role in the growth of production, representing 14.6% of it in September, when the average for the first 8 months was 17.6%. This performance contributed to the reduction of the trade deficit.
   
   Imports represented 27.6% of consumption in September, below the 34.6% identified as the average for the first 8 months of the year. However, the excess productive capacity that the region is experiencing means that local production has a way to go. These import figures force us to be vigilant and identify unfair trade.
   
   Source - Strategic Research Institute
8. voda 17 december 2020 15:15

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   Guangdong Nanfang Donghai Opts for ABB ArcSave for 2 EAFs
   
   ABB has been chosen to supply its patented ArcSave electromagnetic stirrers as part of a substantial refit at leading Chinese iron and steel producer Guangdong Nanfang Donghai’s steelmaking plant in Guangdong Province in southern China. The order comprises two ArcSave systems for use with two new electric arc furnaces. ArcSave will be delivered as part of the contract between Tenova, a leading company specialized in innovative solutions for the metals and mining industries, and Guangdong Nanfang Donghai, within Tenova’s Consteerrer concept, an innovative solution consisting of Consteel EAF and ABB ArcSave electromagnetic stirrer. Commissioning is planned for October 2021.
   
   Making no physical contact with the bottom of the EAF, ArcSave improves the melting of large scrap items, reducing stratification via forced convection and leaving no dead zones in the melt. This improves furnace operation by helping to maintain an even temperature and homogenizing chemical composition, while accelerating scrap and ferroalloy melting compared with natural convection alone.
   
   A more even melt temperature gives a higher eccentric bottom tap hole free opening frequency, reducing tapping delays and enabling a safer, more reliable EAF operation. ArcSave also helps reduce environmental impact by lowering electricity usage and process additions such as alloys and lime, and
   
   Typically, ABB’s ArcSave can improve yield by around one percent, with productivity improvements of between five and seven percent. The solution also reduces consumption of electrical energy by three to five percent.
   
   Source - Strategic Research Institute
9. voda 17 december 2020 15:16

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   SMS Upgrades Villacero Galvanizing Line in Apodaca in Mexico
   
   SMS group and Lamina y Placa Comercial SA de CV, part of the Villacero Group, have successfully completed the hot commissioning of the revamped galvanizing line in Apodaca in Mexico. For the project, SMS supplied a new four-high inline skin-pass mill, a new tension leveller, new fluid equipment and new electrical and automation systems. The project consisted of four consecutive phases, starting with the relocation of the existing equipment on a new bridge structure, thus allowing the installation of the new foundations and equipment, including cold commissioning, to be executed in shadow mode with the line in production. Thanks to this solution, the overall shutdown period could be reduced to a minimum.
   
   The revamping of the galvanizing line allows Lamina y Placa Comercial to meet the growing demand for skin-passed products. The company is now able to produce skin-passed strips, galvanized profiled sheet and coils, galvanized steel roof ridge cap, and pre-painted coils and sheet for structural engineering. Enhanced strip surface quality, improved flatness, and better thickness and elongation accuracy and control are the main benefits of the plant modernization.
   
   The Mexican manufacturer is now in a position to supply the market with galvanized steel SAE 1006, 1008 and 1010 and steel strip products with yield strengths between 210 and 560 MPa, thicknesses from 0.23 up to 2.0 millimetres and widths from 812 to 1,282 millimetres.
   
   Source - Strategic Research Institute
10. voda 17 december 2020 15:17

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    Tata Steel Recognised as Global Leader in Climate Disclosure
    
    Tata Steel Group’s climate disclosure has been rated “A-” by the environmental non-profit CDP, based on review of potential opportunities, risks and strategies, related to the environmental performance on behalf of investors representing USD 106 trillion in assets. Over 9,600 companies, with over 50% of global market capitalisation, disclosed through disclosure programmes managed by CDP at the request of investors and corporate buyers. Climate disclosure was sought from 67 steel companies and only six steel companies are rated in the leadership band. This is Tata Steel’s highest-rating in last 3 years and this puts the Company amongst top six steel companies, globally. The latest rating released by CDP reaffirms the position of the Company on climate response.
    
    The scope of climate disclosure is for the entire Tata Steel Group and covers following entities and is based on third party certification of CO2 emissions.
    
    Subsidiaries (Tata Steel Europe, Tata Steel Thailand, NatSteel Holdings, Tata Steel BSL, Tata Steel Long Products, Tata Metaliks, The Tinplate Company of India Ltd., ISWP, JEMCO, Tata Steel Downstream Products Ltd, Tata Pigments, Tata Steel Utilities and Infrastructure Services Limited, Bhubaneswar Power Private Limited) and; Joint Ventures (Tata BlueScope Steel, Industrial Energy Ltd., Jamshedpur Continuous Annealing & Processing Company Private Limited, Tata NYK Shipping, Jamipol)
    
    Tata Steel’s climate governance, risk disclosure, emission reduction initiatives and emission reporting received highest ratings.
    
    Tata Steel aspires to be the global steel industry benchmark for Value Creation and Corporate Citizenship. The Company’s integrated steelworks at Jamshedpur is the most efficient steel plant in India while its site in IJmuiden in the Netherlands is one of the most carbon efficient integrated steelworks in the world. IJmuiden and Kalinganagar plants are included in the list of Global Lighthouse Network for being the beacon of fourth industrial revolution.
    
    Tata Steel has established Energy Efficiency and Carbon Reduction programmes at all its Steel Plants in the Netherlands, the UK, and India to pursue short-term energy efficiency initiatives and to work on long-term decarbonisation initiatives. The Company is collaborating with peers, industry associations and other relevant stakeholders on a number of initiatives to debottleneck the challenges for an effective and speedy climate response.
    
    Source - Strategic Research Institute
11. voda 17 december 2020 15:18

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    Laminoirs des Landes Operating Danieli Hydraulic Plate Shear
    
    French steel-plate producer Laminoirs des Landes is operating a new Danieli hydraulic hot shear in Tarnos. It cuts hot plates 600-900 degree Celsius to a wide range of thicknesses up to 50 mm and widths up to 3,500 mm. After a brief and smooth commissioning, the Danieli shear successfully performed all the cuts in time and quality, exceeding the design capability in terms of thickness and temperature, and demonstrating the robustness of the Danieli design and manufacturing. The new shear is powered by two, in-house designed hydraulic cylinders fed individually by servo-valves and controlled for position and force. Thanks to the hydraulic knife-angle and knife-gap adjustment systems, the machine is able to perform an optimal cut with excellent edge quality for thick and thin products. An entry pinch roll combined with a set of measuring rolls guarantee tight tolerances in terms of final plate length.
    
    This new shear design reduces requirements for maintenance time and number of spares parts. The knives and knives holders are interchangeable between top and bottom, and each knife has four cutting edges to extend service life.
    
    Source - Strategic Research Institute
12. voda 17 december 2020 15:18

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    Metalloinvest Alexey Ugarov OEMK Ships Record Volume of SBQ
    
    Metalloinvest’s Alexey Ugarov OEMK has shipped a record volume of Special Bar Quality to its customers in November 2020. The total monthly shipment amounted to 103,493 tonnes, the highest volume since 2016. The enterprise shipped 68% of its merchant SBQ products to Russia and CIS markets, while 32% was shipped internationally.
    
    SBQ is a high-quality rolled steel product which has been developed specifically for the automotive industry. It is used for building connecting rods, camshafts and crankshafts of internal combustion engines, gears, shafts and gear shafts of gearboxes, steering parts, rods, struts and shock absorber springs. In addition, SBQ is used in the production of parts for planes and vessels.
    
    The quality of SBQ steel produced at Alexey Ugarov OEMK is defined by a narrow range of chemical composition, low harmful gasses and additives content, high durability and plasticity and increased machinability. These characteristics are achieved by using pure original charge.
    
    Key consumers of the enterprise’s SBQ products include Hot Roll, Sona AutoComp, Timken, Schaeffler, SKF, SKODA, Volkswagen, Peugeot, AVTOVAZ, KAMAZ, UAZ, EPK, Minsk Tractor Works, Severstal Metiz, Bervel, and Belebey-Avtonormal.
    
    Source - Strategic Research Institute
13. voda 17 december 2020 15:23

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    Outokumpu Upgrades Guidance for Fourth Quarter
    
    Outokumpu has upgraded its guidance for the fourth quarter of 2020 as the adjusted EBITDA is expected to be higher compared to the third quarter. Stainless steel deliveries are estimated to increase by approximately 5-10% due to stronger than expected market recovery. The result is also expected to be supported by improved cost efficiency and positive raw material impacts.
    
    The company had earlier expected its fourth-quarter adjusted EBITDA to remain at the same level compared to the third quarter of 2020 (Q3/20: EUR 22 million).
    
    Source - Strategic Research Institute
14. voda 17 december 2020 15:24

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    Olympic Steel Names Mr Jeffrey A Carson as General Manager Iowa
    
    Leading US metals service center Olympic Steel Inc announced that Mr Jeffrey A Carson has joined the Company as General Manager for the Bettendorf in Iowa facility. In this position, Mr Carson will be responsible for driving the safe, profitable growth of temper mill processing, fabrication and metal distribution for the facility and the geographic region it serves. He will report directly to Mr Thomas J Sacco, Regional Vice President.
    
    Mr Carson has more than 30 years of experience in manufacturing operations management, including roles with global manufacturers such as Case New Holland, Carver Pump Co, Donaldson Company Inc, Hon Company and RA Jones (a Coesia Company). Most recently, he was responsible for North American manufacturing and driving P&L improvement as the Sr Director of Manufacturing for a national metals service center. Mr Carson earned his Bachelor of Business Administration degree from Mount Mercy in Cedar Rapids, Iowa. He earned his Masters of Business Administration degree from Saint Ambrose University in Davenport in Iowa.
    
    Founded in 1954, Olympic Steel is a leading US metals service center focused on the direct sale of processed carbon, coated and stainless flat-rolled sheet, coil and plate steel, aluminium, tin plate, and metal-intensive branded products. The Company's CTI subsidiary is a leading distributor of steel tubing, bar, pipe, valves and fittings, and fabricator of value-added parts and components. Headquartered in Cleveland, Ohio, Olympic Steel operates from 36 facilities in North America.
    
    Source - Strategic Research Institute
15. voda 17 december 2020 15:24

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    Pomina Steel to Clear Debt with Development Fund
    
    VN Express reported that Ho Chi Minh City based Vietnamese steel producer Pomina is seeking shareholders’ permission to use VND 450 billion (USD 19.4 million) from its development fund to cover mounting losses. The cash, accounting for 88% of its development fund, would be transferred to its post-tax profit account and used to wipe off the VND202 billion in post-tax losses the company had accumulated as of the end of September this year.
    
    The Ho Chi Minh City Stock Exchange had in April issued a warning to investors about Pomina’s POM shares as the company was yet to address its losses.
    
    Pomina had recorded six consecutive quarter losses in a row before posting a post-tax profit of VND 16.18 billion in the third quarter. Pomina's board said that the construction of a blast furnace last year had financially burdened the company. The furnace, located in the Pomina 3 steel factory in southern Ba Ria-Vung Tau Province, began operations last month and is set to produce high quality products for the construction of airports and roads.
    
    Source - Strategic Research Institute
16. voda 17 december 2020 15:25

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    US DOC Imposes 51% AD Duty on Seamless Pipes from Czech Republic
    
    US Department of Commerce announced an affirmative preliminary determination in the antidumping duty investigation of seamless carbon and alloy standard, line, and pipe from the Czech Republic. Commerce preliminarily determined that exporters from Czech Republic have dumped seamless carbon and alloy standard, line, and pipe in the United States at rates of 51.07 percent to 51.70 percent. Commerce will instruct US Customs and Border Protection to collect cash deposits from importers of seamless carbon and alloy standard, line, and pipe from the Czech Republic based on the preliminary rate noted above.
    
    The petitioner is Vallourec Star LP of Houston in Texas.
    
    Commerce is scheduled to announce its final determination in this case on or about March 2, 2021. This deadline may be extended. If Commerce makes an affirmative final determination, the US International Trade Commission will be scheduled to make its final injury determination on or about April 15, 2021. If Commerce makes an affirmative final determination in this investigation and the ITC makes an affirmative final injury determination, Commerce will issue an AD order. If Commerce makes a negative final determination of dumping or the ITC makes a negative final determination of injury, the investigation will be terminated and no order will be issued.
    
    In 2019, imports of seamless carbon and alloy steel standard, line, and pressure pipe from the Czech Republic were valued at an estimated USD 37.1 million.
    
    Source - Strategic Research Institute
17. voda 17 december 2020 15:26

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    Severstal Izhora Pipe Plant Passed API Certification Online
    
    Severstal Russian Steel division Izhora Pipe Plant has once again successfully passed a supervisory audit conducted by American Petroleum Institute certification body. For the first time for both sides, it was held online. For Izhora Pipe Plant, this is one of the most serious audits for which the company prepares throughout the year. As a result of the audit, ITZ received certificates of compliance of the ITZ quality management system with the requirements of API Specification Q1 and ISO 9001: 2015, as well as a certificate giving the right to use the official API monogram for products manufactured in accordance with the requirements of API Specification 5L.
    
    During the re-certification audit, both parties used the online format for the first time.
    
    Izhora Pipe Plant has also confirmed that it has met the requirements for expanding the certification area for API Specification 5L (Appendix N). This will allow the company to declare to its customers the production of pipes with higher strength properties for zones of active tectonic faults and to significantly promote its product on the pipe products market abroad.
    
    Source - Strategic Research Institute
18. voda 17 december 2020 15:26

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    Liberty Subsidiary Launches Full Buyout Bid for LIBERTY Skopje
    
    SeeNews reported that North Macedonia's Liberty AD in a bourse filing on informed that its majority shareholder Liberty Holdco Galati & Skopje Limited, owned by London-headquartered Liberty House Group, has launched an offer to buy the shares it does not already own in the steel manufacturer. The offer refers to 2,227,750 shares with voting rights in Liberty AD, representing a 6.76% stake in the company, and values each of the shares at EUR 0.6. Liberty Holdco Galati & Skopje has not set a success threshold for its buyout bid. The offer will be valid until January 12.
    
    North Macedonia's securities and exchange commission, on December 14,said that it has given the green light to Liberty Holdco Galati & Skopje to submit an offer to acquire full ownership of Liberty AD. Liberty Holdco Galati & Skopje became a majority shareholder in the Skopje based firm in July 2019. Previously, the firm was owned by Luxembourg-based steel producer ArcelorMittal.
    
    LIBERTY Skopje is one of the largest steel product manufacturers in the Balkans offering cold rolled and galvanized coils & sheets as well as pre-painted coils mainly for the construction and the general industrial sectors across the Balkans and South East Europe markets. Starting from hot-rolled coils as input material, the plant owns all the necessary equipment required to carry out a full range of production techniques: pickling, rolling, annealing, coating and packing.
    
    Source - Strategic Research Institute
19. voda 17 december 2020 15:27

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    Tata Steel Takes FACOR Alloys Chrome Plant on Wet Lease
    
    FACOR Alloys Ltd has entered into a conversion agreement with Tata Steel Ltd for conversion of chrome ore into ferro chrome, wef 28th November, 2020. Post-execution of the above arrangement with Tata Steel, FACOR Alloys’ plant will be operational now at its 100% capacity.
    
    Ferro Alloys Corporation Limited, incorporated in 1955 is one of the India's largest producers of ferro alloys. Facor Group, started its journey in 1956 from a ferro manganese plant at Shreeramnagar in Andhra Pradesh. Now, FACOR, as per their website, has the capacity to produce 65,000 tonnes per annum of ferro chrome and 250,000 tonnes per annum of chrome ore at its plant in Orissa. It has also established a mining complex at Bhadrak in Orissa for the mining of chrome ore, the main raw material for the production of ferro chrome. Stringent quality control for both raw materials and finished products is maintained.
    
    Source - Strategic Research Institute
20. florida7 18 december 2020 07:56

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    ArcelorMittal hikes prices again; European HRC hits nine-year high
    
    Dec. 17, 2020 8:14 AM ETArcelorMittal (MT)By: Carl Surran, SA News Editor
    ArcelorMittal (NYSE:MT) reportedly has raised its Europe-wide hot-rolled coil and hot-dip galvanized coil offers to €700/ton and €800/ton, respectively, for April-May deliveries.
    The price hike continues the current rally in the European steel market, where HRC prices are now at a nine-year high, according to S&P Global Platts.
    The price increase marks ArcelorMittal's third in less than a month, amounting to a cumulative €150/ton jump; the company announced it was targeting €650/ton for European HRC on Dec. 4, helping propel the market higher.
    ArcelorMittal's recent price increases have been far more successful than those tabled over 2019, as buyers negotiating 2021 prices have been left with little room to maneuver, given the surging spot market and higher contract settlements with general industry participants.
    MT shares have surged 28% in December alone alongside soaring steel prices.