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1. voda 14 juli 2021 09:41

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   US Court of Appeals Overturns US CIT Ruling on Section 232
   
   US Court of Appeals for the Federal Circuit issued a majority 2-1 opinion on 13 July 2021 reversing the ruling of the US Court of International Trade that former US President Mr Donald J Trump violated the provisions of Section 232 of the Trade Expansion Act of 1962 by increasing tariffs on steel imports from Turkey beyond those previously implemented under an earlier Presidential proclamation. The Federal Circuit, however, ruled that former President Trump did not depart from the finding of the Secretary of Commerce of a national security threat and did not violate the process and timing standards applicable to the Secretary’s finding of a national security threat. According to the decision, the statute empowers and directs the President to act to alleviate threats to national security from imports and the key issue is whether the statute permits the President to announce a continuing course of action within the statutory time period and then modify the initial implementing steps in line with the announced plan of action by adding impositions on imports to achieve the stated implementation objective. We conclude that the President does have such authority in the circumstances presented here.
   
   The Federal Circuit decision made clear that the judges were not addressing other circumstances that would present other issues about presidential authority to adjust initially taken actions without securing a new report with a new threat finding from the Secretary. As a result, the Federal Circuit indicated, the immediate impact of this ruling should be limited to the facts and issues surrounding the implementation of additional duties on imports of Turkish steel.
   
   After remand to the CIT, the plaintiffs group led by Transpacific Steel LLC have the option of challenging the decision by either seeking a review by the full Federal Circuit or appealing to the US Supreme Court.
   
   Mr Trump initiated a 25% steel tariff and 10% aluminum tariff on metal imports from most countries under Section 232 in March 2018. The tariff was imposed following Commerce's investigation which found that surging steel and aluminum imports posed a national security threat. Serving as the plaintiffs, US based steel importer Transpacific Steel and a group of Turkish steel producers challenged Trump's action in the CIT in January 2019 and received a favorable ruling.
   
   Source - Strategic Research Institute
2. voda 14 juli 2021 09:44

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   NMDC Board Approves Demerger of Steel Business
   
   Indian iron ore giant NMDC Ltd announced that its board of directors has approved the Scheme of Arrangement for Demerger between NMDC Limited and NMDC Steel Limited and their respective shareholders, pursuant to Sections 230 to 232 and other applicable provisions of the Companies Act 2013. The said Scheme is subject to necessary statutory and regulatory approvals including the approval of the Securities and Exchange Board of India, Stock Exchanges, Ministry of Corporate Affairs, Government of India and respective shareholders and creditors, if any, of each of the companies involved in the Scheme.
   
   NMDC Steel Limited is a wholly-owned subsidiary of NMDC Limited. NMDC Steel Limited currently does not have any business operations. It is authorized by its Memorandum of Association to carry on the business of, amongst others, manufacturing, prospecting, raising, operating, buying, selling, importing, exporting or otherwise dealing in various categories of steel and iron ore.
   
   Source - Strategic Research Institute
3. voda 14 juli 2021 09:45

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   Hoa Phat Rebars Used in Several Infrastructure Project in Vietnam
   
   Vietnam’s largest steel producer Hoa Phat announced that since the beginning of the year, a series of public investment projects across the country have used Hoa Phat steel for construction. Specifically, Vinh Tuy Bridge’s phase 2 Hanoi, sections of the North-South Expressway, My Thuan 2 Bridge, Tan Son Nhat International Airport renovating and upgrading project have used tens of thousands of tonnes of Hoa Phat’s construction steel.
   
   After more than 10 years of putting Vinh Tuy Bridge into operation, Ha Noi City decided to implement phase 2 of this bridge to complete the ring road II, creating more convenient and safer traffic conditions for people. Started in January 2021, Vinh Tuy Bridge phase 2 has a total investment of more than VND2.5 trillion. The bridge which has a total length of more than 3.4 kilometres, a cross section of 19.25 metres (4 lanes) is expected to be completed in 2022.
   
   In the North-South Expressway project, Hoa Phat’s construction steel is being supplied to a series of construction packages for Mai Son National Highway 45, Dau Giay Phan Thiet, Phan Thiet Vinh Hao, Trung Luong My Thuan sections. In June, the construction contractor of My Thuan 2 Bridge ordered 2,000 tonnes of Hoa Phat’s D40 steel 18 metre long which will be delivered in July and August 2021. According to contractors, there are very few companies in Vietnam capable of producing and supplying such long D40 steel. With a total investment of more than VND5 trillion, the My Thuan 2 Bridge and the two bridge leads project has a total length of 6.6 kilometers in the two provinces of Tien Giang and Vinh Long. My Thuan 2 Bridge will connect two highways of Trung Luong - My Thuan and My Thuan - Can Tho to complete the expressway from Ho Chi Minh City to Can Tho when it comes into operation.
   
   In addition, the runways construction for take-off and landing, renovation and upgrading at Tan Son Nhat Airport, K Hospital 2 Ha Noi, Cu Chi General Hospital, Binh Thuan Provincial General Hospital, Hoc Mon General Hospital are also public investment projects using Hoa Phat steel.
   
   Source - Strategic Research Institute
4. voda 14 juli 2021 09:46

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   NLMK Reports Surge in Production & Sales in Apr-Jun Quarter
   
   Russian steel maker NLMK Group announced that its sales increased by 11% QoQ & 26% YoY to 4.3 million tonnes in Q2 of 2021, supported by a 5% QoQ production growth to 4.6 million tonnes, up 19% YoY, due to NLMK equipment ramp-up after the overhaul. Sales to the Russian market increased by 8% QoQ to 1.8 million tonne, up 26% YoY, as well as an increase in the supply of slabs and pig iron to export markets. Sales of semi-finished products to third parties increased by 57% QoQ mainly due to the shipment of slabs; sales of finished products increased by 1% QoQ to 2.7 million tonnes amid a recovery in demand in key markets. Sales in the ‘home’ markets totalled 2.8 million tonnes, up 1% QoQ & 19% YoY. Sales in export markets increased by 20% QoQ to 1.4 million tonnes but down 30% YoY
   
   Average Steel Product Prices
   
   1. Quotations for steel products grew in all key regions. In the US and the EU, end demand for steel was high, stocks remained lean.
   
   2. In Russia, dollar-denominated prices for uncoated flat rolled products increased by 36% QoQ & 114% YoY and by 13% QoQ & 78% YoY for rebar.
   
   3. Slab export price FOB Black Sea increased by 29% QoQ & 154% YoY, the increase was supported by high demand and prices for finished products in international markets.
   
   4. Average flat steel prices in the US grew by 28 % QoQ & 179 % YoY. In June 2021, prices for hot-rolled products reached an all-time-high, approaching USD 1,900 per tonne.
   
   5. In the EU, dollar-denominated prices for flat rolled products set a record since 2008 with an increase of 44% QoQ & 155% YoY
   
   Segment Sales in Q2 of 2021
   
   1. NLMK Russia Flat - 3.527 million tonnes, up 18% QoQ & up 3% YoY
   
   2. NLMK Russia Long - 0.818 million tonnes, up 11% QoQ & up 38% YoY
   
   3. Raw material mining and processing - 5.159 million tonnes, up 8% QoQ & up 6% YoY
   
   4. NLMK USA - 0.502 million tonnes, up 17% QoQ & up 52% YoY
   
   5. Dansteel - 0.162 million tonnes, down 7% QoQ & up 33% YoY
   
   6. NBH Sales - 0.329 million tonnes, down 34% QoQ & down 30% YoY
   
   Source - Strategic Research Institute
5. voda 14 juli 2021 09:46

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   Protest Planned at Parliament on Aug 2-3 against RINL VSP Sale
   
   Local media reported that amid the ongoing opposition against the centre's move of privatizing Rashtriya Ispat Nigam’s Visakhapatnam Steel Plant, all political parties in Andhra Pradesh, except the Bharatiya Janata Party and its ally Jana Sena Party have decided to unite against the decision and decided to stage a protest in New Delhi to oppose the centre's privatization plan on August 2-3. The alliance of the opposition also raised the demand to the state government to lead an all-party delegation to Delhi and even sought their direct participation in the Dharna. Representatives of the committee would leave for Delhi on July 20 to explain the situation to the Parliamentary party leaders and elicit their support. They described the privatisation move as a measure to play with the self respect of the people of Andhra.
   
   The move is supported by five political parties including Congress, TDP, CPI, CPM, AAP and other mass organizations of union workers. The Visakha Ukku Parirakshana Porata Committee has called upon the steel plant workers to make the Chalo Parliament a success.
   
   Trade unions and labour unions have been agitating since the past five months at the Steel Plant. But the Union government is going ahead with the privatization process. On July 8, the central government has decided to appoint financial, legal and technical advisors for fastening the process of privatization of Visakhapatnam Steel Plant. The decision faced backlash as agitating workers and union leaders staged an impromptu sit-in protest for over two hours, some of the workers were not even allowed to enter the plant.
   
   A was also filed in the Andhra Pradesh High Court last week challenging the Central government’s decision of privatization. The High Court issued notices to both State and Central governments.
   
   Source - Strategic Research Institute
6. voda 14 juli 2021 09:47

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   Hungary PM Signs Decree to Restrict Steel Exports from October
   
   According to a recent ministerial declaration signed by Hungary’s Prime Minister Mr Viktor Orban, the Hungarian government could restrict exports of strategically important raw materials and goods, including steel products from October to help rein in inflation in the sector mandating Hungarian exporters seeking government’s approval to export their products under restrictions of the governmental registration procedure. Hungary's Interior Minister Mr Sandor Pinter will determine whether export of the goods will significantly impede or make impossible the critical establishment, operation, maintenance and development of infrastructures, thereby endangering public supply or risk to security of supply in the construction industry. If export is deemed to threaten the security of supply, the goods must stay within the country.
   
   Hungary will start a registration procedure for companies wishing to export the goods, meaning they will need government approval to sell outside of the country. Shipments can be tracked using the country's electronic trade and transport control system EKAER and police and customs authorities will ensure exporters adhere to the legislation.
   
   Such an export ban would require approval from EU authorities in Brussels, with whom the Hungarian leader has clashed on a range of issues
   
   Any reduction to shipments outside of Hungary could have severe repercussions for the Hungary's domestic steel producer Dunaferr, which is already in crisis because of a lack of investment and constrained working capital. Dunaferr has a 2 million tonne per year capacity but is reported to be operating below 50%.
   
   When implemented, Hungary will oin Russia & Ukraine, which have announced restrictions on steel exports to reduce commodity price inflation by securing domestic supply.
   
   Source - Strategic Research Institute
7. voda 14 juli 2021 09:48

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   IEA See CCUS as Important Pillar for Southeast Asia Climate Change
   
   International Energy Agency last month said that Southeast Asia would need to fast accelerate its collective investment in carbon capture technologies, to the tune of an average of USD 1 billion per year between 2025 and 2030, or risk missing Paris Agreement temperature targets. That would mean developing capture potential from essentially zero today up to 200 million tonnes or more by 2050. But Southeast Asia continues to lean heavily on fossil fuels like coal for power generation, and some plants have many years of operation ahead of them. At the same time, the uptake of renewable electricity has been slow in several countries. Carbon capture, utilisation and storage can help to put the fastgrowing economies of Southeast Asia on the path to net-zero emissions.
   
   Since 2000, almost 90% of Southeast Asia’s energy demand growth has been met by fossil fuels and the region is home to major coal and liquefied natural gas exporters. While the opportunity for CCUS goes beyond fossil fuel applications, the technology can be an important pillar for helping the region transition from its current energy mix to one that is aligned with future climate goals. CCUS can contribute to emissions reductions in many parts of the region’s energy systems. The deployment of CCUS can enable some of the more recently built power plants and industrial facilities in Southeast Asia to continue to operate with substantially reduced emissions, contributing to economic development and energy security objectives. CCUS is one of the few scalable solutions available for decarbonising heavy industries like cement and steel, and its deployment could also unlock new economic opportunities associated with low-carbon hydrogen or ammonia production. CCUS can also play a critical role in reducing emissions along the supply chain for natural gas.
   
   Meeting climate goals will require countries to accelerate the deployment of CCUS technology. In pathways consistent with the Paris Agreement’s temperature goals, CCUS would build from a limited base in the region today to 200 million tonnes or more of CO2 capture by 2050. Investment in carbon capture technologies in Southeast Asia would need to reach an average of almost USD 1 billion per year between 2025 and 2030.
   
   Momentum for CCUS is growing in the region. Interest in CCUS in Southeast Asia has been growing in line with international trends. Worldwide, plans for more than 30 commercial CCUS facilities were announced in the first half of 2021 alone. In Southeast Asia, at least seven potential projects have been identified and are in early development - in Indonesia, Malaysia, Singapore and Timor-Leste. Singapore has identified an important role for CCUS in its long-term emissions-reduction strategy and is actively pursuing research and international partnerships, including with Australia. The establishment of the Asia CCUS Network in June 2021, with the objective of facilitating collaboration and the deployment of CCUS, is another significant milestone and opportunity to advance CCUS in the region.
   
   Targeting industrial clusters will support economies of scale and kick-start deployment CCUS in the region. A hub approach can enable CO2 capture from multiple industrial and power facilities and promote greater efficiencies in the planning and construction of capital-intensive transport and storage infrastructure. Separating capture from the transport and storage elements of the CCUS supply chain can also facilitate dedicated business models for transport and storage, recognising that the specific skills and expertise needed for large-scale carbon management may not be available in most emissions-intensive sectors. Globally, plans to develop CCUS hubs are progressing in more than 12 locations, with potential to capture more than 50 Mt CO2 per year. In Southeast Asia, some of the largest industrial clusters can be found in Indonesia, Malaysia, Thailand and Viet Nam.
   
   Regional approaches to C02 transport and storage infrastructure can build on international experience. Regional approaches to CO2 transport and storage infrastructure could enable faster and more widespread uptake of CCUS in Southeast Asia. In particular, the development of large, shared C02 storage resources that can be accessed by multiple facilities and countries could support CCUS investment in locations where storage capacity is either limited or where its development faces delays. Such an approach could incorporate offshore C02 storage together with C02 shipping, providing additional flexibility and contingency in the CCUS value chain where several storage facilities are available. Efforts to develop shared infrastructure in Southeast Asia could be informed by international experience. For example, the Northern Lights C02 transport and storage project in Norway will accept C02 from facilities across Europe and has sparked plans for several new CCUS projects.
   
   Source - Strategic Research Institute

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8. voda 14 juli 2021 09:52

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   Bisalloy Bags Armour Steel Plate Order for LAND400 of Rheinmetall
   
   Australian steel plate manufacturer Bisalloy Steels has announced the receipt of a significant order from Rheinmetall for highly specialised Australian Made BISALLOY Armour steel. The steel, developed by Bisalloy to meet the protection levels required for the BOXER 8×8 Combat Reconnaissance Vehicles and tested and certified by the German Government and the German Government testing authority BAAINBw in collaboration with Rheinmetall Defence Australia, will be used for Rheinmetall’s Australian-built BOXER 8×8 CRV in the LAND400 Phase 2 program. This first purchase order marks Bisalloy’s firm presence in the German defence prime contractor’s global supply chain, and follows the successful completion of an extensive testing and evaluation program.
   
   Bisalloy and Rheinmetall began collaborating in 2017 and since that time have strengthened their relationship through a teaming agreement that enabled the two companies to collaborate on R&D, reciprocal technical visits, various plant and production tours, technical discussions, and the sharing of information.
   
   Bisalloy is Australia’s only manufacturer of high strength and high hardness quenched and tempered steel plate used for armour, structural, protection and wear-resistant steel applications. Bisalloy has a long history of collaboration with the Australian Defence Force. Originally developed in the 1980s for use in the hulls of the Royal Australian Navy’s Frigates, BISALLOY Armour steel has since been used in many domestic defence projects, including the Collins Class Submarine, Bushmaster Infantry Mobility Vehicles, Hawkei Protected Mobility Vehicle (Light) to name just a few.
   
   Source - Strategic Research Institute

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9. voda 14 juli 2021 09:57

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   Tata Metaliks Reports Record YoY Profit Swing in Apr-Jun Quarter
   
   Tata Steel’s subsidiary Tata Metaliks Ltd has reported a net profit of INR 94.72 crore for the April- June 2021 quarter as compared to net loss of INR 12.36 crore in the year ago quarter. Total income during April-June 2021-22 increased INR 606.45 crore from INR 210.99 crore in the year-ago period. Expenses were at INR 471.62 crore during the quarter under review, up from INR 227.46 crore a year ago. Tata Metaliks Managing Director Mr Sandeep Kumar said "The company has delivered strong results primarily due to record sales and booming prices of pig iron. DI pipe business got impacted mainly due to COVID-induced restrictions by state governments. However, demand for DI pipes continues to remain robust on the back of significantly increased allocation in this year's Union budget for water infrastructure.”
   
   Tata Metaliks has manufacturing facilities at Kharagpur in West Bengal, which produces pig iron and DI pipes. The plant annually produces around 5.50 lakh tonne of hot metal, out of which over 200,000 tonne is converted into DI pipes and the rest into pig iron.
   
   Source - Strategic Research Institute
10. voda 14 juli 2021 09:57

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    Danieli to Modernize Abinsk Electric Steel Works Rolling Mill
    
    Abinsk Electric Steel Works has placed a new order with Danieli for the supply of two ESS energy-saving cantilever stands which will be installed at Abinsk production site in Krasnodar region in Russia. The Danieli ESS stands will replace housingless stands 15 and 16 as part of a rolling mill for rebar supplied by another plantmaker. The new cantilever stands will ensure the reduction of the product-size changing time for rebars 8-25 mm-dia, increase the rolling tolerances and maximize the mill utilization factor. The commissioning is planned by mid 2022.
    
    Abinsk Electric Steel Works already operates Danieli cantilever stands in rolling mill #2, the second Danieli wirerod mill supplied by Danieli to the Russian steelmaker, and this will lead to spare parts optimization.
    
    Source - Strategic Research Institute
11. voda 14 juli 2021 09:58

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    Mechel BMK Starts Installation of New Wire Drawing Equipment
    
    Mechel Group’s Beloretsk Metallurgical Plant has started assembling the second batch of new drawing machines for the production of steel wire. In June, the first 4 mills were launched at the plant. In total, it is planned to install 12 machines under the project for the modernization of steel wire and rope production. The cost of four new units manufactured by the Italian company Mario Frigerio SpA amounted to about 220 million rubles. The launch is scheduled for the 4th quarter of this year. The machines are installed in the alloy wire workshop of BMK. At the same time, work is underway to build a new closed circulating water supply cycle for this equipment.
    
    The new drawing mills are equipped with scale breakers and belt grinding devices for mechanical cleaning of the wire rod surface (wire blanks) from scale instead of the chemical acid pickling method. Thanks to single-flow drawing with quality cooling, the new machines can ensure necessary pliability and even spreading of mechanical properties lengthwise, rule out kinks and damage to wire surface while drawing. Each bench’s annual capacity is 13,000 tonnes of wire used to produce rope and spring wire.
    
    It is planned to use the machines to produce high-quality wire, from which products for construction, mechanical engineering, etc. will be produced in the future.
    
    The project is being implemented with the support of the RF Industry Development Fund. It is designed until 2023 and is aimed at increasing the efficiency of the steel wire and rope production of BMK, improving the quality of products, as well as solving an environmental problem.
    
    Source - Strategic Research Institute
12. voda 14 juli 2021 09:59

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    Italian Feralpi Group Continued Investments in 2020
    
    Lonato del Garda Brescia based Italy’s Feralpi Group’s investments in 2020 rose to EUR 55.6 million, confirming that, despite the uncertainties caused by the pandemic, the Company continues to implement its industrial plan, one of the pillars to sustain increased productivity both in the construction steel business unit and in the special steels business unit and to achieve increasingly ambitious environmental KPIs, in order to combine competitiveness with a reduction in the direct and indirect impact of production activities. In effect, energy efficiency projects continued to optimise the consumption of both electricity and natural gas. In order to optimise energy consumption and reduce CO2 emissions at the same time, in line with the European Green New Deal, the Company is committed to developing research projects to support production processes, aimed at increasing energy efficiency and reducing impacts and emissions, in a 4.0 perspective, with the help of artificial intelligence and in partnership with international research centres and universities.
    
    During the year, the experimental phase of using engineering plastics, obtained from plastics recovered from urban recycling that cannot be reused and has to be disposed of in landfills, in EAFs instead of coal and its derivatives was also completed at the Lonato del Garda plant. This will help counteract climate change by reducing CO2 emissions. As from 2021, with transition to the industrial phase, the consumption of coal will be cut by about 4,000 tonnes, thereby reducing CO2 emissions by around 2,000 tonnes per year and contributing to the decarbonisation of the production process.
    
    Mineral based lubricants are gradually being replaced by fully biodegradable vegetable-oil based products. In a circular approach, the use of products made using company residues, or sub-bases and asphalts made from black slag resulting from the iron and steel process, has also continued.
    
    The Quality Integration project was born as a part of investments aimed at strengthening and integrating the internal supply chain in high value-added steels between Acciaierie di Calvisano steel mill and Caleotto rolling mill. Actions have been taken to improve plants efficiency, in addition to operational practices and the implementation of Industry 4.0 simulation and control systems. These include testing for the development of new steel qualities, plant development for the rolling mills with the introduction of thermo-mechanical treatment (Caleotto), the implementation of Industry 4.0 logic software systems for monitoring and controlling the entire production chain. Besides, the development of measurement systems along the entire production chain to minimize defects and the implementation of continuous product tracking systems.
    
    During 2020, the Presider plant, a member of the Group that leads the way in the processing of steel for large-scale construction projects around the world, underwent a major intervention to completely redesign the layout, from internal logistics to new 4.0 plants.
    
    In the latter months of the year, in view of reinforcing its leadership role in the building steels business, the Feralpi Group invested in launching the conversion of the business at the Nave plant (Brescia), which has passed to Presider, which will thus be able to take full advantage of all the opportunities arising from the revamping of infrastructure works, thanks to its objectives and the resources made available by the European Recovery Fund.
    
    Source - Strategic Research Institute
13. voda 14 juli 2021 10:00

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    EU to Unveil Fit for 55 Plans for Emissions Reduction
    
    The European Commission is set to unveil a vast package of draft green legislation designed to govern a faster transition to a low carbon economy on 14 July 2021. A dozen legal texts already under attack from political interests, industry lobbies and environmentalists-will seek to ensure emissions are cut by 55% over 1990 levels by 2030. The Fit for 55 package includes: the revision of the EU Emissions Trading System, a Carbon Border Adjustment Mechanism, revision of the Energy Tax Directive, amendments to the Renewable Energy and Energy Efficiency Directives to implement the ambition of the new 2030 climate target, as well as others on reduction of methane emissions from the power sector, emissions from land use and rules on passenger cars and alternative fuels.
    
    European Steel Association EUROFER Director General Mr Axel Eggert said “EU institutions have agreed to more ambitious cuts to greenhouse emissions over a fairly short time frame. This package of new laws to be proposed by the Commission is intended to legislatively implement the political ambition. The European steel industry has long established plans to reduce emissions by 55% compared to 1990 levels, and has over a hundred highly-advanced low-carbon projects spread across Europe. However, the success of these projects its contingent on being able to direct the appropriate resources and find markets for the resulting ‘green’ steels, which will come at a higher cost than conventional steel. For Fit for 55 and the associated Green Deal to become successful growth strategies, they must provide three things: effective carbon leakage protection, affordable low-carbon energy, and firm support for the development and roll-out of breakthrough technologies”.
    
    But environmentalists will denounce the laws as not going far enough, even as industry and some EU member states more dependent on coal-fired power push back against the effort. The ETS cap and trade system covers power generation, steel plants, cement, chemicals and commercial aviation-between them representing around 40% of European greenhouse emissions. Wednesday’s package would extend this with a parallel market for shipping, road transport and construction. To placate them, pollution quotas that are currently distributed freely to EU-based producers to help them compete with cheaper less-regulated imports would be phased out.
    
    Source - Strategic Research Institute

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14. voda 14 juli 2021 10:04

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    Beursblik: Degroof Petercam verhoogt koersdoel Aperam
    Aandeel blijft op kooplijst.
    
    (ABM FN-Dow Jones) Degroof Petercam heeft woensdag het koersdoel voor Aperam verhoogd van 58,00 naar 60,00 euro met een onveranderde koopaanbeveling.
    
    Analist Frank Claassen wees op de aanhoudende stijging van de prijzen voor roestvast staal in Europa. De vraag blijft sterk en de import van goedkoop staal wordt ingeperkt door maatregelen tegen anti-dumping.
    
    Claassen verhoogde zijn taxaties voor de EBITDA in zowel het tweede kwartaal als heel 2021 met dubbele cijfers en voor 2022 verhoogde de analist zijn ramingen met nog eens 3 procent.
    
    In het afgelopen kwartaal behaalde Aperam volgens Degroof een EBITDA van 223 miljoen euro. Dat is 30 miljoen euro meer dan de analist eerder voorzag. Ook zit Claassen daarmee boven de consensus van 215 miljoen euro. In heel 2021 zal Aperam een EBITDA realiseren van 744 miljoen euro en in 2022 van 695 miljoen euro, aldus de bank.
    
    Het aandeel Aperam steeg woensdag 1,3 procent naar 47,03 euro.
    
    Door: ABM Financial News.
    
    info@abmfn.nl
    
    Redactie: +31(0)20 26 28 999
15. voda 15 juli 2021 08:46

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    K1-MET to Drive Steel Decarbonisation at Metinvest
    
    Ukrainian steel maker Metinvest has signed a memorandum of understanding with leading Austrian competence centre for the development of advanced metallurgical and environmental processes K1-MET to implement joint projects aimed at addressing climate and environment-related challenges in the steel industry in line with the European Green Deal, presented by the European Commission in December 2019. The memorandum was signed during the International Decarbonisation Forum that took place in Kyiv in Ukraine on 14 July 2021. As part of its long-term vision to develop emissions-free steelmaking, Metinvest is considering ways to decarbonise and increase the sustainability of its production facilities and is interested in gaining experience of leading technologies aimed at reducing environmental footprint. Meanwhile, ?1-??? has profound experience and expertise regarding the implementation of research and development projects focusing on energy efficiency, the circular economy, carbon capture, storage and usage, climate-neutral metal production and other related areas in collaboration with leading industrial players, research organisations and institutes.
    
    Metnvest CEO Mr Yuriy Ryzhenkov said “We understand the urgent need to decrease the negative impact that steelmaking has on climate. Metinvest is constantly looking at various technological solutions to reduce its emissions today and in the future. The partnership with K1-MET represents an important part of a comprehensive approach to decarbonising the steel industry in the long run, and we will continue to actively explore this and other areas.”
    
    Located in Austria, K1-MET is one of the leading and internationally renowned metallurgical competence centres for ferrous and nonferrous metallurgy. It cooperates with established national and international partners from the sector to cover issues such as energy efficiency, the circular economy and carbon-neutral metal production. Only through collaborative research in all technical areas can resource efficiency and product quality be increased to ensure that Europe remains competitive in the long term. Cooperation with partners is the foundation for the fruitful development of K1-MET, and has been under way for almost 20 years. K1-MET and its partners are working on process solutions to advance the transformation of the European metallurgical industry.
    
    Source - Strategic Research Institute
16. voda 15 juli 2021 08:47

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    Chinese Crude Steel Output in H1 of 2021 up by 12% YoY
    
    National Bureau of Statistics announced that China's crude steel output fell by 5.6% MOM to to 93.88 million tonnes in June 2021 from a record level of 99.45 million tonnes in May 2021 but up 1.5% YoY. For the first half of 2021, China's crude steel output grew 11.8% YoY to 563.3 million tonnes
    
    Production at some mills in the steel hub of Tangshan city was restrained in late June, with some urged by the government to idle their blast furnaces to try to ensure clean skies for the ruling party's centenary celebration.
    
    China pledged to limit crude steel output in 2021 at no higher than the 1.065 billion tonnes in 2020.
    
    Source - Strategic Research Institute

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17. voda 15 juli 2021 08:48

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    EU Unveils Carbon Border Adjustment Mechanism on Steel Imports
    
    The European Commission, as part of its 'Fit for 55' climate package, has adopted a Carbon Border Adjustment Mechanism. The CBAM will apply to imports into the EU of iron and steel, aluminium, cement, fertilizers and electricity. During a transition period from 2023 to 2025, importers will have to report the emissions embodied in the goods brought to the EU without paying any duties. Definitive measures will come into force in 2026, and importers will then have to declare annually the quantity of goods and the amount of embedded emissions in the total goods they imported into the EU in the preceding year, and surrender the corresponding amount of CBAM certificates.
    
    CBAM will apply to direct emissions but, by the end of the transition period, the EC will evaluate whether an extension of the measures is needed, possibly including indirect emissions.
    
    However, CBAM should not apply to certain products including ferrous scrap, ferroalloys and certain fertilizers whose production does not entail meaningful emissions
    
    EU importers of goods can also buy CBAM certificates. The price of the certificates will be calculated depending on the weekly average auction price of EU ETS allowances expressed in Euro per tonne of CO2 emitted, in the week prior to purchase. The number of CBAM certificates that are required to be purchased will be adjusted to reflect the number of EU ETS allowances that are allocated free of charge to Europe-based producers.
    
    European steel and aluminum producers' associations expressed concerns indicating that they considered the CBAM proposals incomplete as the package limits itself to covering products' direct or embedded emissions, not including indirect emissions, and does not give clarity on which emission scopes will finally be included.
    
    Source - Strategic Research Institute
18. voda 15 juli 2021 08:48

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    Cabinet Approves India Russia Coking Coal MoU
    
    India’s Union Cabinet, chaired by the Prime Minister Mr Narendra Modi, have approved the Memorandum of Understanding between India’s Steel Ministry and Russia’s Ministry of Energy on cooperation regarding coking Coal, which is used for Steel making. The objective of the MoU is to strengthen cooperation between Govt. of India and Govt of Russia in the steel sector. The activities involved in the cooperation are aimed at diversifying source of coking coal.
    
    The MoU will provide an institutional mechanism for co-operation in the coking coal sector between India and Russia. The MoU shall benefit the entire Indian steel sector by reducing their input cost. This may lead to reduction in cost of steel in the country.
    
    Source - Strategic Research Institute
19. voda 15 juli 2021 08:49

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    BEIS Committee Seeks Answers on Liberty Steel & GFG Alliance
    
    UK Parliament’s Business, Energy and Industrial Strategy Committee Chair British Member of Parliament Mr Darren Jones has written to GFG Alliance owner Mr Sanjeev Gupta with a series of questions relating to the Committee’s inquiry on Liberty Steel & the future of the UK steel industry. Mr Jones said “In the evidence we have heard so far in our inquiry, a story has emerged of the unusual extent to which Sanjeev Gupta personally controls the finances of Liberty Steel and its associated companies. Liberty Steel companies have received hundreds of millions in taxpayer-backed loans and the GFG Alliance has been in receipt of millions more in Government guaranteed-funding.
    
    Given the taxpayer’s considerable exposure to GFG Alliance, it is right for Parliament, and the public, to expect Mr Gupta to emerge from behind his lawyers and come forward with meaningful responses to key questions relating to Liberty Steel and the GFG Alliance.”
    
    The Committee’s correspondence to Mr Gupta covers a number of areas relating to the BEIS Committee’s inquiry, including
    
    Access to Government support
    
    The Liberty Steel-GFG Alliance relationship
    
    Liberty Steel’s financial position
    
    Greensill Capital’s and Wyelands Bank’s financing of GFG Alliance
    
    Circular financing
    
    Accounting and audit practices
    
    Mr Sanjeev Gupta refused to give oral evidence in public to the Committee’s inquiry. Mr Gupta has indicated he would answer questions in writing. The question topics of the letter mirror the subject areas which would have been raised in the previously scheduled public evidence session with Mr Gupta.
    
    GFG’s companies were paid GBP 350 million across seven Government-backed Coronavirus Large Business Interruption Loan Scheme loans from Greensill.
    
    Several other investigations are taking place into GFG Alliance and Greensill Capital alongside the one by the Business Committee. These include inquiries by the Treasury Select Committee the Public Accounts Committee and the Public Administration and Constitutional Affairs Committee. The Serious Fraud Office has launched an investigation into GFG and its financing arrangements with Greensill. The National Audit Office is probing Greensill’s involvement in a Government-backed pandemic loan scheme, which is also being looked at by the British Business Bank. The accounting watchdog, the Financial Reporting Council, is also investigating the auditors of Greensill and Wyelands Bank.
    
    Source - Strategic Research Institute
20. voda 15 juli 2021 08:59

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    Metinvest & Primetals Sign MoU for Decarbonization of Steel
    
    Ukranian steel maker Metinvest and Primetals Technologies signed a memorandum of understanding, during the first International Decarbonisation Forum held in Kyiv, for plant building and lifecycle services for the metals industry. The parties expressed their intentions and mutual expectations about streamlining their interaction regarding the implementation of joint sustainability projects in the sector. These include joint R&D initiatives under the Horizon Europe and Research Fund for Coal and Steel funding umbrella related to climate and environmental challenges in the steel industry. The cooperation will include working on existing technological solutions that can be implemented jointly at Metinvest’s production facilities, as well as prospective technologies and solutions that may be deployed across the metals and mining supply chain to accelerate Metinvest’s decarbonisation journey. Areas of mutual interest include energy efficiency, innovative DRI-based steelmaking, carbon capture and utilization and metallurgical gas utilization.
    
    Metinvest CEO Mr Yuriy Ryzhenkov “As Metinvest continues looking for opportunities and ways to become carbon neutral in the future, we believe that joining efforts with such an experienced technological leader as Primetals Technologies will support the intermediate decarbonization goal and significantly contribute to achieving climate-neutrality with net-zero greenhouse gas emissions. This is the goal of the European Green Deal and in line with the commitment of both the EU and Ukraine to the global climate action under the Paris Agreement.”
    
    Source - Strategic Research Institute