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1. voda 5 februari 2021 13:52

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   IG Metall Unclear overLiberty Steel's Funding plan forThyssenkrupp
   
   Reuters reported that German IG Metall union says that bid by Liberty Steel for the steel division of Germany's Thyssenkrupp still lacks clarity on financing. IG Metall's North Rhine Westphalian regional leader Mr Knut Giesler told Reuters "Liberty has an idea. But it is unclear how it will be funded. It hasn't been proven yet that it's a sustainable concept."
   
   Mr Giesler added "A spin off idea can be interesting, if it secures the whole company with 95,000 employees. IG Metall would benchmark all options against its key demands. Our red lines are known. We have a collective bargaining agreement. The commitments made on securing jobs, keeping sites and investments must be guaranteed."
   
   Liberty Steel last month submitted what it called a firmed up bid for the division, with sources saying the group had secured significant financial leeway to fund the transaction. But Thyssenkrupp is also exploring a spin-off of the steel unit, while a third option could entail keeping the business and developing it under the roof of the parent group.
   
   Source - Strategic Research Institute
2. voda 5 februari 2021 13:52

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   Opposition to Privatise RINL VSP Intensifying
   
   According to media reports, several trade unions, people’s organisations and members of the public are opposing the proposal of the Indian government’s to privatise Rashtriya Ispat Nigam Ltd. The agitation opposing the decision taken by Union Cabinet a few days ago to go in for 100% disinvestment in Visakhapatnam Steel Plant seems to be boiling into a major controversy and all trade unions and others are gearing up for massive agitation.
   
   The employees of VSP have been holding dharnas and protests for past three days and a major agitation on Friday is also being planned. The unions suspect that efforts are on to handover the plant to a major group. The employees are willing to contribute that amount without taking a bank loan to the Centre if it drops the proposal to go in for privatisation of the steel plant.
   
   The Forum for Development of North Andhra has given a call to the people to protect the RINL-Visakhapatnam steel plant from privatisation. General Secretary Mr A Aja Sarma noted that the steel plant is a jewel in the crown of Telugu states and condemned the decision of the Centre which proposed a strategic sale of the plant. He said “The plant is supported by strong technical personnel and it remains the only shore based steel plant in the country with assets worth about INR 2.5 lakh crore. The government has no right to sell it.”
   
   The Greater Visakha City Committee of the CPI (M) staged a protest at the Gandhi Statue near GVMC. Addressing the gathering, secretary Mr B Ganga Rao condemned the decision and demanded its immediate withdrawal, failing which he said the CPI (M) would launch a concerted struggle to oppose the privatisation proposal.
   
   Bharatiya Janata Party MLC from Visakhapatnam Mr PVN Madhav met Union Finance Minister Nirmala Sitharaman requesting her to consider dropping the proposal to privatise Visakhapatnam Steel Plant and look for alternate measures. Mr Madhav is learnt to have informed Ms Sitharaman that Visakhapatnam Steel Plant came into existence after a prolonged struggle and sacrifice of many people.
   
   India’s Union Cabinet has approved privatisation of Vizag based state owned public sector Rashtriya Ispat Nigam Ltd, in which the government currently holds 100% stake. A government official said “While approving the strategic disinvestment of RINL a few days ago, the Cabinet delegated powers to the Alternative Mechanism headed by the Finance Minister to decide whether the subsidiaries of RINL will be part of the transaction, depending on the feedback from potential investors.”
   
   Source - Strategic Research Institute
3. voda 5 februari 2021 13:53

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   Germany Imposes Cartelization Fines on Steel Forging Companies
   
   Germany's national competition regulator Federal Cartel Office Bundeskartellamt has imposed fines totalling approximately EUR 35 million on three steel forging companies and two senior staff members for their involvement in an anti-competitive exchange of information. The companies concerned are CDP Bharat Forge GmbH now Bharat Forge Global Holding GmbH and Bharat Forge CDP GmbH, both based in Ennepetal and part of the Indian Bharat Forge Group and the former Johann Hay GmbH & Co KG Automobiltechnik now Musashi Bockenau GmbH & Co KG. The Bundeskartellamt’s investigations were triggered by a leniency application filed by the forging company Hirschvogel Umformtechnik GmbH based in Denklingen. In accordance with the Authority’s leniency programme no fine was imposed on this company.
   
   Bundeskartellamt President Mr Andreas Mundt said “For many years leading German steel forging companies participated in various antitrust infringements. At meetings of a working group which met up to three times a year, senior staff of the companies exchanged competition-sensitive information with other forging companies from other European countries. This included information in particular about the respective cost situation of the companies, their pricing strategies and concrete negotiations with suppliers and customers. The aim of the participating steel forging companies was to pass on cost increases to the fullest extent possible to their customers without having to fear being undercut by their competitors. The working group was set up within Euroforge, the umbrella organization of the European national associations for the forging industry.”
   
   The exchange of information, which regularly took place at least from October 2002 to December 2016, was aimed at passing on the companies’ own costs for manufacturing forged steel products and any changes in costs in full to their customers. The company representatives involved also pursued this aim in numerous bilateral and multilateral contacts outside the meetings of the working group.
   
   Among the principal customers of the steel forging companies are the large car manufacturers and the automotive supply industry.
   
   In calculating the fines the Bundeskartellamt took account of the fact that each of the companies had cooperated extensively with the authority throughout the proceedings. Furthermore, settlements could be reached with the companies involved, which also helped to reduce the level of their fines.
   
   The fines imposed are not yet final and can be appealed to the Düsseldorf Higher Regional Court. The Bundeskartellamt did not initiate a proceeding against the foreign forging companies for discretionary reasons.
   
   Source - Strategic Research Institute
4. voda 5 februari 2021 13:54

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   UK Steel Electricity Price Report Flags Huge Disparities
   
   A new report released from UK Steel shows the significant electricity price disparity the UK Steel sector faces compared to its European counterparts, with the sector facing an extra GBP 54 million of energy costs compared to German steelmakers. Over the last five years the price disparity has cost the sector GBP 254 million or 130% of annual capital investment. Closing the Gap shows the huge structural barrier faced by the UK steel sector as it faces the core challenges of adapting to a trading environment outside the EU, looks to recover in the aftermath of the pandemic, and embarks upon the major challenge of decarbonisation. The report makes a powerful argument for the UK Government to put forward a bold programme of support for the sector to level the playing field. Consistently higher UK electricity prices increase production costs, reduce available capital and deter inward investment, severely reducing the sector’s ability to invest in decarbonisation and transition to CO2 free steel production.
   
   UK Steel Director Mr Gareth Stace said “Our new report plainly demonstrates UK steelmakers face systemic disadvantages in higher electricity prices than our competitors. Electricity is one of the biggest costs for the steel industry, it undermines our competitiveness and it damages our ability to invest when we are consistently forced to pay significantly more than our closest competitors. This year, the disparity has cost the UK steel industry GBP 54 million. That’s another GBP 54 million which should have been invested in the sector, modernising and making it more competitive, on top of the GBP 200 million of additional costs just since 2016.”
   
   Mr Stace said “And the issue is becoming even more urgent with the growing need to rapidly decarbonise. All options available to us will hugely increase electricity consumption across the sector how on earth can companies attract massive investment for such a transition in a country with the highest industrial power prices in Europe?”
   
   He urged “Government needs to be bold and decisive. We have put forward six easily implemented measures to provide the British steel sector with the best possible foundation to thrive. To provide valuable jobs, to boost the UK economy, and to ensure we continue to be a great trading nation.”
   
   Source - Strategic Research Institute
5. voda 5 februari 2021 13:54

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   US Court of International Trade Upholds Section 232 Tariffs
   
   New York based US Court of International Trade has upheld former US president Mr Donald Trump’s Section 232 national security tariffs on steel imports into the United States, issuing a decision denying a steel importer’s challenge to the duties. A three judge panel said “There have been proposals put forward suggesting greater Congressional oversight, including hearings, or statutory amendments which would expand Congress’s role in the implementation and review of tariffs. Ultimately, of course, these are policy matters that fall within the province of the legislative branch. It is not the role of the court to opine about them.”
   
   Universal Steel Products Inc, PSK Steel Corporation, The Jordan International Company, Dayton Parts LLC and Borusan Mannesman Pipe US Inc challenged the steel tariff, claiming injury from the duty. The plaintiffs argued procedural deficiency behind the Section 232 implementation process. In addition, they claimed the president and then-Secretary of Commerce Wilbur Ross did not identify an impending threat when imposing the tariffs. They also claimed Trump violated provisions of Section 232 by not setting duration for the action.
   
   It is unclear if the new Biden administration will ultimately rescind the tariffs. The US Chamber of Commerce said “The Biden administration should terminate the Section 232 tariffs and quotas and reject further national security trade threats against America’s allies. Not only have these tariffs and quotas missed their intended target and instead hit close US allies and partners, US workers, farmers, and companies have paid a steep price for their use. It’s time to change course.”
   
   Research by the Federal Reserve Bank of New York has affirmed that the tariffs imposed by the Trump administration continue to be almost entirely borne by US firms and consumers. However, the same study found that tariffs have caused foreign exporters of steel to substantially lower their prices into the US market. As a result, steel producers in the EU, South Korea, Japan, and elsewhere bore part of the cost.
   
   Introduced in two waves, in March and July of 2018, the US Section 232 tariffs of 25% on steel and 10% on aluminum were applied to metal imports from nearly every country in the world. Argentina, Brazil, and South Korea agreed to quotas instead of tariffs; uniquely, Australia got a full exemption. Only in the case of Canada and Mexico have they been dropped in May 2019.
   
   Source - Strategic Research Institute
6. voda 5 februari 2021 13:55

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   Supreme Court Orders PSM Management Sacking
   
   Pakistani media reported that Pakistan’s Supreme Court’s two member bench led by Chief Justice Gulzar Ahmed and comprising Justice Ijazul Ahsan observed that the management of the Pakistan Steel Mills is responsible for its downfall as no misdeed can be carried out without the consent of the administration and ordered that the officers of the mega industrial unit should first be sacked before the 3,700 staff is forced to resign. Observing that the entity was not making profit, it further directed that the payments to all the PSM employees should be stopped.
   
   During the course of proceedings, the top court was informed that the privatisation of the PSM has entered an advanced stage. Industries and Production Ministry secretary told the SC bench that the process of PSM's privatisation would be completed by September,
   
   Source - Strategic Research Institute
7. voda 5 februari 2021 13:56

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   Jindal Stainless Reports Strong Results for Oct-Dec Quarter
   
   Jindal Stainless Limited announced the financial results for October-December 2020 quarter. Jindal Stainless said “A V shaped recovery in stainless steel demand in the domestic markets bolstered JSL's sales volume to 250,562 tonnes in Q3of FY21. The Indian economy gained momentum and registered a faster than expected recovery after the peak COVID-19 period in 2020. The third quarter witnessed healthy revival in end-user segments like automotive, pipes & tubes, and industrial fabrication. Backed by R&D efforts to indigenize various stainless steel grades in the automotive sector, JSL was able to capitalize on the demand growth in the two-wheeler and passenger vehicle segments. Aided by the second wave of its nationwide co-branding initiative Jindal Saathi, the Company registered nearly 40% growth in the ornamental pipe & tube segment during the quarter. Sales in the Hollowware segment grew by about 40% in Q3FY21 as compared to previous quarter. JSL's sales in the railway wagon and metro rail segments also remained strong during the quarter.”
   
   Q3FY21 Highlights - Standalone performance:
   
   Sales volume registered at 250,562 tonnes, up by 5% YoY
   
   Domestic Sales 85% up 13%
   
   Exports 15% down 27%
   
   Revenue at INR 3,452 crores, up by 9% YoY
   
   EBITDA at INR 445 crores; EBITDA margin at 12.9%
   
   PAT at INR 152 crores; PAT margin at 4.4%
   
   Q3FY21 Highlights - Consolidated performance:
   
   Revenue stood at INR 3,585 crores, up by 9% YoY
   
   EBITDA at INR 473 crores; EBITDA margin at 13.2%
   
   PAT at INR 170 crores; PAT margin at 4.7%
   
   Jindal Stainless said “The global stainless steel market saw escalation of raw material prices throughout the quarter. Over the six-month period of July-December 2020, Nickel prices jumped by about40%, while prices of Molybdenum, Copper and Ferrous Scrap grew by nearly 27%, 24%, and 45% respectively. Additionally, the shipping cost for imported raw materials went up by 30-35% in comparison to the pre-COVID period, resulting in higher landed cost of raw-materials. Steadily increasing input costs had a direct bearing on the prices of stainless steel. With imports constituting nearly 27% of domestic stainless steel consumption, and input materials imported from global sources, the domestic prices of finished goods remained inevitably linked with the prevailing international prices.”
   
   Source - Strategic Research Institute
8. voda 5 februari 2021 13:56

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   Fire Damages Conveyor Belt at RINL VSP Sinter Plant
   
   HANS India reported that a minor fire broke out at sinter plant in Visakhapatnam Steel Plant of Rashtriya Ispat Nigam Limited on 4 February 2020 evening. The incident happened when the welding work was in progress. It is learnt that the heat generated near the coal area led to the fire mishap at the conveyor belt. About 200 metres of the belt were said to be damaged in the accident. Fire extinguishers rushed to the spot and doused the flames. Fortunately, no one was injured in the mishap.
   
   However, the exact extent of damage is yet to be ascertained. Meanwhile, production resumed after few hours.
   
   Source - Strategic Research Institute
9. voda 5 februari 2021 13:57

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   HAL & MIDHANI to Develop Composites Raw Materials
   
   HAL and MIDHANI signed a Memorandum of Understanding at the ongoing Aero India 2021 for development and production of composite raw materials. This is the first time that such a MoU has been signed for composite raw materials. This is the major step forward in the area of composite materials. There is no equivalent proven Indian approved & qualified supplier for various types of Prepregs Carbon, Aramid, Glass types etc for the Aircraft applications. This creates dependency on foreign OEMs, which is likely to continue in future indigenous programs. Efforts need to be made to develop and manufacture such Prepregs in India through collaboration.
   
   The usage of composites in the Aerospace is going to exist and increase, particularly for fighter Aircrafts & Helicopter because of its inherent advantages over metallic raw materials. In addition, similar requirement exists for other Aerospace and Defense programs including those of Indian Space Research Organization, Defence Research Development Organization and National Aerospace Laboratories.
   
   Source - Strategic Research Institute
10. voda 5 februari 2021 14:00

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    POSCO Erects 8 Raw Material Storage Silos at Pohang
    
    POSCO has recently invested more than KRW 200 billion to complete eight silos at Pohang Works. Since 2012, Pohang Works has utilized nine circular silos and one cell silo to manage raw material. With the completion of eight additional 50,000 tonne silos last month, Pohang Works now possesses a total of 18 silos that are capable of storing up to 1,035,000 tons of raw materials. The eight silos reaching about 56 meter have full scale murals painted on them with the phrase I LOVE POHANG WITH POSCO. The newly added silos are expected to reduce air pollutants and dust generated while processing raw material at the steelworks. In the future, Pohang Works plans to increase the number of silo facilities gradually and keep raw materials sealed within them.
    
    A silo is a sealed raw material storage facility that prevents the scattering of raw material particles by wind. By storing raw materials within a closed area, raw materials such as coal and limestone are kept from being blown away. Utilizing silos improves efficiency in raw material management since the sealed silos help minimize the loss of raw materials due to various weather conditions, such as wind and rain. In addition, the efficiency of stowing the raw materials is much better than that of raw material processing facilities in open space. The silos provide a significant increase in storage space for raw materials and enable a stable supply of the raw materials.
    
    Source - Strategic Research Institute
11. voda 5 februari 2021 14:01

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    Primetals to Supply Hyper UC Mill to SUNSCO in VietnamVietnamese steel producer Maruichi Sun Steel Joint Stock Company SUNSCO is in a deal with Primetals Technologies to introduce light duty Hyper Universal Crown mill, Hyper UC-mill, at a SUNSCO production site in Binh Duong Province in Vietnam. This mill will be installed as its first application in Vietnam. It is a compact, light duty type of Hyper UC-mill, a RCM, employing smaller diameter work rolls, thus reducing rolling loads. It allows the production of thinner materials of high quality at fewer costs. Also, the mill concept saves investment and maintenance costs. The solution set up at SUNSCO will be the first case of Hyper UC-mill to expand the original mill concept to the production of thinner and soft material by using optimized roll forces. The new mill will enable SUNSCO to build a stable position in the market with the growing demand for thinner materials for the building and construction industries.
    
    Primetals Technologies scope of supply encompasses the complete mechanical and electrical equipment. Primetals Technologies will be responsible for the supervision of installation and commissioning as well. The light mill will process thin sheets with end-product thicknesses down to 0.2 millimetres and a width of 1,250 millimetres. This particular mill can produce sheets as thin as 0.1 millimetres. It, along with No 1 CRM previously delivered by Primetals Technologies, will increase its annual production capacity to total 250,000 tons.
    
    Hyper UC-mill was developed by Primetals Technologies to achieve high performances of strip gauge and flatness control for High Strength Steel (HSS) rolling. This technology is also applicable for rolling high grades of non-grain oriented silicon steel and thinner products. The technology stands on an optimized roll diameter combination (small work, intermediate and back-up rolls,) a “work roll driven system” to achieve high flatness controllability, and the development of a high strength small diameter spindle to drive the work roll.
    
    SUNSCO was established in 1996 as the first 100% foreign capital invested steel company in Vietnam. The company produces and sells the following items: molten zinc, 55% Al-Zn galvanized steel coil, color coated steel coil, and steel pipe. SUNSCO´s products are mainly used for civil and building construction, structural uses, furniture, bicycle and motorbike parts and other industrial uses. The company is part of the Maruichi Group, with Maruichi Steel Tube Ltd. holding 72.53% of the shares.
    
    Source - Strategic Research Institute
12. voda 5 februari 2021 14:04

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    SEIFSA Concerned over Slow Manufacturing Recovery in South Africa
    
    The Steel and Engineering Industries Federation of Southern Africa is concerned about the slow pace of recovery in the manufacturing sector, as depicted by the lower manufacturing PMI index number of 50.9 in January, which is lower than the 2020 fourth quarter average. According to SEIFSA Chief Economist Chifipa Mhango, the signs of this slow pace in recovery show that the sector is in for a bumpy ride in 2021. He said the price trends for intermediate products, which were discouraging new investment into the manufacturing sector, were also a concern. He said “Prices are a key component of decision-making by businesses on how revenue will be generated, either taking the approach of growing price or volume. Within the manufacturing sector, historical patterns show that on average, since January 2013, prices of goods have increased below 10% year on year. This is for both final manufactured goods and intermediate goods, of which most M&E products are part.”
    
    Mr Mhango said there is a prevailing discouraging trend of generally decreasing price patterns in both the intermediate and final manufactured goods PPI since 2016. He said “It is important to keep electricity price increases under control in order to ensure business’s sustainability, since their negative effect on turnover can lead to the shutting down of businesses and more job losses in the short to medium term.”
    
    According to the Bureau for Economic Research, South Africa’s Absa Manufacturing PMI rose slightly to 50.9 in January from 50.3 in December 2020. Despite the improvement, the latest reading is much lower than the average recorded in the final quarter of 2020. Indeed, the business activity index declined for a fourth consecutive month, pointing to a further loss of momentum in recovery. Meanwhile, there were gains in the sub-indices tracking new sales orders and expected business conditions in six months’ time.
    
    Producer price index data suggests that in 2020 electricity prices increased at a much faster pace than that of intermediate manufactured goods. However, prices for mining products increased more than both electricity and intermediate manufactured goods between January and December 2020. Mr Mhango said this reflects the prevailing difficulty in the operating environment, characterised by rising intermediate inputs costs from the mining sector.
    
    The manufacturing sector remains key to the growth and development of South Africa due to its multiplier effect into other sectors of the economy, such as the construction sector, especially through the Metals and Engineering industry as a supplier of crucial inputs such as steel.
    
    Source - Strategic Research Institute
13. voda 5 februari 2021 14:06

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    US Steel Imports in January 2021 Seen at 2.1 Million Net Tons
    
    Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis data, the American Iron and Steel Institute reported that steel import permit applications for the month of January totalled 2,126,000 net tons. This was a 0.1% decrease from the 2,128,000 permit tons recorded in December and a 42.4% increase from the December preliminary imports total of 1,494,000 net tons. Import permit tonnage for finished steel in January was 1,202,000 net tons, down 10.3% from the preliminary imports total of 1,340,000 in December. The estimated finished steel import market share in January was 16%.
    
    Finished steel imports with large increases in January permits vs. the December preliminary imports include heavy structural shapes up 105%, reinforcing bars up 82%, light shapes bars up 23% and structural pipe and tubing up 15%.
    
    In January, the largest finished steel import permit applications for offshore countries were for South Korea 125,000 net tons down 48%, Turkey 75,000 net tons up 451%, Japan 52,000 net tons down 11%, Brazil 40,000 net tons down 18% and Taiwan 30,000 net tons down 23%.
    
    Source - Strategic Research Institute
14. voda 5 februari 2021 14:06

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    MSCI Launches Build Now Campaign in US
    
    US’s Metals Service Center Institute announced a new continent-wide grassroots social media campaign to encourage residents of the United States and Canada to make their voices heard in favor of increased public and private investment in infrastructure. Metals Service Center Institute chair Mr Edward J Lehner said “For decades now we have treated infrastructure investment as some kind casual choice that could be deferred indefinitely and addressed through superficial platitudes. Whether it is the unmistakable lessons of the global pandemic in how we respond to life and death, or a colossal landslide wiping out a large stretch of Highway 1 in Big Sur, or our climate, drinking water, energy, communications, mobility or commerce, the lack of infrastructure investment is a primary cause of many of society’s current problems. The good news is, if we finally have the will to act, we can fix what we’ve neglected for far too long. It is imperative we wait no longer to get started and ‘BUILD NOW.’ Please mark these words: after a period of sustained investment in infrastructure, we will begin to see meaningful improvements in public health, income inequality, shared prosperity, and overall quality of life for our families, our communities, and our businesses.”
    
    The campaign can be found at www.build-now.org and by using #LetsBuildNow on social media platforms. The website encourages individuals to join MSCI’s movement and to help the organization build momentum, build awareness and build support for infrastructure investment. It also allows users to share their stories by posting photos on social media using #letsbuildnow.
    
    Source - Strategic Research Institute
15. voda 5 februari 2021 14:07

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    Severstal Reports 43% Decline in Net Profit in 2020
    
    Russian steel maker Severstal has announced its financial results for the fourth quarter and twelve months of 2020. Severstal CEO Mr Alexander Shevelev said “In a challenging year under the auspices of the pandemic, our strategic priorities and transformational goals have never been more relevant and relevant our continued focus on cost reduction, a commitment to customer satisfaction, and the pursuit of new business opportunities - have enabled us to keep our business running smoothly throughout all the time and save jobs, as well as continue to implement the long-term development plan.”
    
    The Group's revenue decreased in 2020 by 15.8% YoY to USD 6,870 million. The decrease in revenues compared to the previous year was due to lower prices for steel products and a decrease in sales for the period.
    
    Group EBITDA decreased in 2020 by 13.7% YoY to USD 2,422 million, mainly reflecting a decline in revenues, partially offset by a decrease in cost of sales. EBITDA margin increased YoY to 35.3% as compared to 34.4% in 2019
    
    Group net profit decreased in 2020 by 42.5% YoY to USD 1,061 million.
    
    Source - Strategic Research Institute
16. voda 8 februari 2021 16:27

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    Beursblik: licht hogere EBITDA Aperam voorzien
    
    FONDS KOERS VERSCHIL VERSCHIL % BEURS
    Aperam
    37,09 1,33 3,72 % Euronext Amsterdam
    
    (ABM FN-Dow Jones) Aperam heeft in het vierde kwartaal van 2020 een licht hogere EBITDA geboekt dan een jaar eerder, maar op kwartaalbasis was er vermoedelijk sprake van een groter herstel. Dit verwachten analisten die bijdroegen aan de consensus.
    
    Voor het vierde kwartaal verwachten de dertien analisten die bijdroegen aan de consensus gemiddeld een aangepaste EBITDA van 88 miljoen euro. De schattingen lopen daarbij uiteen tussen 85 miljoen en 92 miljoen euro. Voor het vierde kwartaal rekent ING op een aangepaste EBITDA van 87 miljoen euro, ofwel een stijging van 33 procent op kwartaalbasis, dat gedreven wordt door het herstel in Europa van de volumes en prijzen.
    
    In het vierde kwartaal van 2019 was dit resultaat nog 85 miljoen euro. Op kwartaalbasis zou er sprake zijn van een fors herstel, gezien Aperam in het derde kwartaal nog een EBITDA-resultaat boekte van 65 miljoen euro.
    
    Bij publicatie van de cijfers over het derde kwartaal in november sprak Aperam de verwachting uit in het vierde kwartaal een aantrekkende EBITDA te kunnen realiseren ten opzichte van het resultaat in het derde kwartaal. Ook verwachtte de fabrikant van roestvast staal toen dat de schulden verder zullen afnemen.
    
    Voor heel 2020 mikken analisten inmiddels op een EBITDA van 272 miljoen euro. Dat is hoger dan de 234 miljoen euro waarop nog werd gerekend voorafgaand de cijfers over het derde kwartaal. De kwartaalcijfers en de outlook voor 2021 zullen de toon zetten voor en sterk 2021, meent ING.
    
    ING is te spreken over het aantrekkelijke rendement op de vrije kasstroom van 9 procent, naast het duurzame dividendrendement van 5 procent. Analist Stijn Demeester van ING sluit niet uit dat er positieve koersaanjagers met de kwartaalcijfers zullen komen, wijzend op een mogelijke herstart van het aandeleninkoopprogramma. JPMorgan verwacht dat Aperam weer voor 50 miljoen euro aan eigen aandelen gaat inkopen. Ook de Amerikaanse zakenbank voorziet dat dit bij de jaarcijfers aangekondigd zal worden.
    
    "Aperam blijft een kwaliteitsaandeel in de staalsector", stelden analisten van Deutsche Bank. De kans op opnieuw een meevaller in het afgelopen vierde kwartaal kan volgens de bank dan ook niet worden uitgesloten.
    
    ING heeft een koopadvies op Aperam met een koersdoel van 38,00 euro, terwijl Deutsche Bank een Houden advies heeft met een koersdoel van 36,00 euro. JPMorgan Cazenove heeft een Neutraal advies met een koersdoel van 30,70 euro.
    
    Aperam opent woensdag voorbeurs de boeken. Het aandeel noteerde maandag bijna 4 procent in de plus op 37,17 euro.
    
    Door: ABM Financial News.
    info@abmfn.nl
    Redactie: +31(0)20 26 28 999
    
    © Copyright ABM Financial News B.V. All rights reserved.
17. voda 9 februari 2021 06:26

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    EU Carbon Border Adjustment to Puncture Carbon Leakage Protection
    
    European Parliament’s Environment Committee voted On 5 February on the Carbon Border Adjustment Mechanism with 58 votes for, 8 against and 10 abstentions. The resolution aims to have a WTO compatible measure on all imported products currently under the EU ETS, to encourage less carbon-ambitious countries to also work towards decarbonisation. While the resolution indicates the intention that the EU’s increased ambition on climate change must not lead to carbon leakage, the proposal to phase out rapidly free allocation in parallel to the introduction of a Carbon Border Adjustment would create a major threat to the survival of the EU steel industry.
    
    The European Steel Association EUROFER said “At today’s carbon price of EUR 38 per tonne CO2, production costs of EU primary steel would increase by around EUR 75 per tonne. This would have a disruptive impact on the EU steel industry and the related value chains, as it would expose EU steel producers and downstream sectors to such high costs, undermining the financial ability to invest in low carbon technologies and jeopardising the competitiveness of 20 million EU exports to third countries. While these projects are upscaled at industrial level and reach market penetration, carbon leakage protection with free allocation and indirect costs compensation at the level of the most efficient installations remain essential measures to preserve the competitiveness of the sector and allow its ability to invest in low carbon technologies. CBA needs to cover the CO2 costs which the current system is already causing despite the existing carbon leakage measures, and not replace them until a sustainable market for CO2 low steel has been established in the EU. However, the results of the ENVI vote include a compromise amendment, 20, that explicitly calls for the rapid ‘phase out’ of existing carbon leakage measures, such as free allocation of allowances under EU ETS that form the linchpin of the current decarbonisation strategy.”
    
    EUROFER added “Higher climate ambition requires strengthened carbon leakage measures, in particular for sectors at highest risk due such as steel – not their weakening. The CBAM can provide strengthened carbon leakage protection only if it complements free allocation at the level of the current benchmarks and addresses the shortcomings of the existing measures for a transition period. This transition period should run until a market for green steel is fully formed. The outcome of the ENVI vote jumps the gun. A CBAM with full auctioning would see EU producers paying their full carbon costs facing third-country exports to the EU who can cross-subsidise their export share (usually less than 5%) with their remaining non-EU-bound output. In EU steel export markets, the situation would be even worse, with EU exporters competing on third markets against exporters who face no carbon costs at all. The consequences of the ENVI vote would be a death sentence for the European steel sector. We urge the parliament to rethink this during the plenary stage, as CBAM is not a substitute for free allocation under the EU ETS, it is a necessary complement.”
    
    Source - Strategic Research Institute
18. voda 9 februari 2021 06:26

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    INOX Air Products to Construct Fifth ASU for AM/NS India
    
    Air Products’ India joint venture company INOX Air Products has received a contract from AM/NS India to set up its fifth cryogenic Air Separation Unit at Hazira Plant. At an investment of INR 300 crore, INOXAP’s fifth cryogenic ASU at AM/NS India’s Hazira plant, would have the capacity to generate 700 tonnes per day of Gaseous Oxygen and 300 tonnes per day of Gaseous Nitrogen along with other liquid gases. Once completed, the Gas Complex would have a combined production capacity of more than 9000 tonnes per day of industrial gases.
    
    The 5th cryogenic Air Separation Unit at its Hazira Plant would supply the Oxygen and Nitrogen gases required to meet the additional demand due to the phased brownfield expansion of AM/NS India’s capacity from the current 7.2 million tonnes per year to 8.6 million tonnes per year. This expansion is a part of their larger expansion plans across India.
    
    For INOXAP, the new contract is a continuation of a relationship that dates back to 2005, when Essar Steel, under the Ruias, had awarded a contract for an 885 tonnes per day Cryogenic ASU on a BOO basis. Later, INOXAP was chosen as a preferred partner to outsource the majority of its captive ASUs resulting into INOXAP acquiring all three ASU assets of 1,700 tonnes per day capacity each from Essar Steel in 2015, and entered into a long term contract for supply of all industrial gases on a BOO basis.
    
    Source - Strategic Research Institute
19. voda 9 februari 2021 06:27

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    POSCO Center in Seoul Becomes Eco Friendly
    
    The POSCO Center in Seoul has been transformed into a building where disposable cups are not of use. The campaign is a practice of POSCO executives and employees to achieve carbon neutrality in their daily lives. From February 1, POSCO decided to operate the POSCO Center in Seoul as a building with no use of disposable cups, an initiative to reduce CO2 emission in daily life by using tumblers.
    
    Last month, POSCO had provided its own stainless steel tumbler with the slogan Reduce CO2, Save Tomorrow to all employees.
    
    The headquarters in Pohang and technology research institutes will be operated as a “building with no use of disposable cups” and group companies are also expected to participate in the future.
    
    Last year, POSCO became the first Asian steelmaker to officially announce its plan for carbon neutrality. The company declared to take the lead in creating a sustainable world by achieving carbon neutrality.
    
    Source - Strategic Research Institute
20. voda 9 februari 2021 06:27

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    Canada Finds Dumping of Heavy Plate from Chinese Taipei & Germany
    
    The Canadian International Trade Tribunal found that the dumping of certain heavy plate, originating in or exported from the Separate Customs Territory of Taiwan, Penghu, Kinmen, and Matsu (Chinese Taipei) and the Federal Republic of Germany has caused material injury to the domestic industry. Anti dumping duties will therefore be collected by the Canada Border Services Agency. Tribunal found that the volume of dumped goods originating in or exported from the Republic of Turkey is negligible. As such, the Tribunal terminated its inquiry regarding the dumping of the above-mentioned goods originating in or exported from the Republic of Turkey. The Tribunal will issue the reasons for its findings on February 22, 2021.
    
    Hot rolled carbon steel plate and high strength low-alloy steel plate, not further manufactured than hot-rolled, heat-treated or not, in cut lengths, in widths greater than 72 inches (+/- 1,829 mm) to 152 inches (+/- 3,860 mm) inclusive, and thicknesses from 0.375 inches (+/- 9.525 mm) up to and including 4.5 inches (+/- 114.3 mm), but excluding:
    
    Plate in coil form
    
    Plate having a rolled, raised figure at regular intervals on the surface also known as floor plate
    
    Exclusion
    
    1. Hot-rolled carbon steel plate manufactured to the following specifications and grades:
    
    ASME SA-285/SA-285M or ASTM A-285/A-285M
    
    ASME SA-299/SA-299M or ASTM A-299/A-299M
    
    ASME SA-515/SA-515M or ASTM A-515/A-515M
    
    ASME SA-516/SA-516M or ASTM A-516/A-516M (including, but not limited to, SA/A516 Grade 70)
    
    ASME SA-537/SA-537M or ASTM A-537/A-537M
    
    ASME SA-841/SA-841M or ASTM A-841/A-841M
    
    2. Hot-rolled carbon steel plate in grade ASME SA-516 Grade 70 or ASTM A-516 Grade 70 normalized (heat treated) with a thickness greater than 3.28 inches.
    
    3. Hot-rolled carbon steel plate produced to the following specifications and grades:
    
    ASME SA-516/SA-516M or ASTM A-516/A-516M, normalized
    
    ASME SA-299/SA-299M or ASTM A-299/A-299M, normalized
    
    ASME SA-537/SA-537M or ASTM A-537/A-537M, normalized
    
    4. Heavy plate imported by Irving Shipbuilding Inc for use in the Arctic and Offshore Patrols Ships shipbuilding project.
    
    The complainant in this case was Algoma Steel Inc of Sault Ste Marie in Ontario. The other manufacturers of like goods in Canada are Janco Steel Ltd, SSAB Central Inc, Samuel, Son & Co Ltd, Tidy Steel-Fab Ltd and Varsteel Ltd.
    
    The Canadian International Trade Tribunal, pursuant to the provisions of section 42 of the Special Import Measures Act (SIMA), has conducted an inquiry to determine whether the dumping of certain
    
    Source - Strategic Research Institute