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Iranian Esfahan Steel to Export Rails to Afghanistan

The Iranian Steel Producers Association announced that Esfahan Steel Company has signed a USD 4.332 million deal to export rail tracks to Afghanistan. The new rail tracks will be utilised for various railway development projects. Afghanistan is currently working towards the development of its railway infrastructure.

Iran started the domestic production of rail tracks six years ago after the Islamic Republic of Iran Railways, known as RAI, made an agreement with ESCO on the manufacturing of rail tracks. In November 2016, ESCO signed a deal with RAI to produce 40,000 tonnes of U33 rails and subsequently launched its rail production line. In June 2018, RAI received the first domestically manufactured rail tracks, called National Rail.

Source - Strategic Research Institute
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Beursblik: UBS verhoogt koersdoel ArcelorMittal
Van 30,00 naar 32,00 euro.

(ABM FN-Dow Jones) UBS heeft het koersdoel voor ArcelorMittal maandag verhoogd van 30,00 naar 32,00 euro en herhaalde de koopaanbeveling voor het staalaandeel.

De analisten van UBS verwachten dat ArcelorMittal in het tweede kwartaal een EBITDA behaalde van 4,6 miljard dollar, een stijging van 42 procent op kwartaalbasis. In heel 2020 kwam de staalreus niet verder dan 4,3 miljard dollar. Voor 2021 rekent de bank op 18,7 miljard dollar.

Deze opleving schrijft analist Andrew Jones toe aan de recordprijzen die momenteel voor staal worden gerekend.

De vrije kasstroom zal hierdoor met 123 procent op kwartaalbasis stijgen naar 1,2 miljard dollar, aldus UBS, ondanks het werkkapitaal.

De schuld zal met 10 procent op kwartaalbasis dalen, denkt de bank.

Op een rood Damrak daalde het aandeel ArcelorMittal maandag 3,0 procent naar 24,73 euro.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999
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SSAB Launches Research Project Fossil Free Steel in Finland

SSAB has launched an extensive research project Fossil Free Steel in Finland. In the project, SSAB will work together with industrial and research partners to explore different solutions and alternatives to produce fossil free steel and thus the ways to withdraw entirely from the use fossil energy. The Towards Fossil-free Steel research project now launched supports SSAB’s strategic goal of gradually transitioning towards fossil free steelmaking by mapping the solutions and alternatives to replace fossil fuels with renewable energy in steelmaking. The FFS research project is a continuation of the 2020 Energy4HYBRIT prefeasibility project, which investigated the need and availability of biomaterial and bioenergy and the techno-economic possibilities to use these in the steel mill processes at SSAB Raahe. The FFS project will build on this work and the goal is to determine solutions to produce green forms of energy, i.e. hydrogen, biochar and biogas for the steel industry. In addition, the project will study the smelting of hydrogen-reduced sponge iron in an electric arc furnace, the manufacture of fossil-free lime and new solutions to utilize the by-products created in the steelmaking processes.

The FFS project will also build the new expertise needed and support billion-euro investment decisions that will correspondingly contribute to reaching goal of carbon neutrality. The project has a total budget of EUR 10.7 million and Business Finland is contributing EUR 5.6 million to the project for a period of two years.

The FFS project business consortium consists of SSAB, Ovako, Fortum, Valmet, Nordkalk, Tapojärvi and Luxmet. The University of Oulu, VTT Technical Research Institute of Finland and Åbo Akademi University are involved in the research part of the project. Other companies supporting the project are ABB, Andritz and Finnsementti. The project is part of the Association of Finnish Steel and Metal Producers’ strategic agenda, which is based on Finland’s goal to be carbon neutral by 2035.

SSAB aims to be completely fossil free and to remove the company’s fossil carbon dioxide emissions by 2045. In 2016, SSAB, LKAB and Vattenfall announced the HYBRIT initiative, where the blast furnace process, which causes around 90% of the carbon dioxide emissions originating in blast-furnace-based steelmaking, will be replaced by electric arc furnace technology using direct reduced iron, or sponge iron, obtained using green hydrogen. The new technology removes the use of fossil coking coal needed in the production of crude iron and the remaining fossil fuels needed in production will be replaced with biogas or by electrifying the processes.

Source - Strategic Research Institute
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Taiwanese Steel Giant CSC’s Rolls over Steel Prices for August

Taiwan’s biggest steelmaker China Steel Corp would keep prices in the domestic market unchanged next month, despite surges in iron ore and coking coal prices. CSC said “We’ve held prices steady for August so businesses do not have to fret about their orders. We hope that domestic steel-dependent businesses can work together and take this opportunity to plan their future production accordingly.”

China Steel Corp also said that it’s total carbon steel sales for the first half of 2021 declined by 128,943 tonnes or 2.6% on year to 4.9 million tonnes. The on-year decrease was attributed to the fact that the company’s No 2 blast furnace was not operating at full capacity in the first quarter of this year, though it had resumed operations at the end of 2020 after an overhaul,

H1 Financial Performance

Consolidated Operating Revenues – NTD 213 million, up 42%

Consolidated Operating Income – NTD 33 million, up 873%

Consolidated Income Before Income Tax – NTD 35 million, up 822%

Source - Strategic Research Institute
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CORSMA Calls for Suspending HRC Exports & Cutting Import Duty

India’s Cold Rolled Steel Manufacturers Association in a letter to Steel Minster Mr RCP Singh has urged to take steps to bring down the domestic steel prices, increase domestic consumption and at the same time make required HR Coil available in the thickness range of below 2 mm and special quality steel through imports & domestic supplies by

Imposing export duty on HR Coil with the export duty or suspending export of HR Coil

Reducing basic custom duty on HR Coils from 7.5% to 0%

CORSMA ED Mr NK Sood said "The price of HR Coil has doubled to INR 68000 per tonne over a period of just one year. The price of HR Coil is considered the benchmark price for all the downstream CR products, Tube & Pipes and manufactured products. The cascading increase in the prices of various products leads to higher infrastructure and construction cost and that of domestic consumer durable and automobile products. The price increase has resulted an increase in inflation and reduction in the steel consumption.”

He argued “HR Coil & Semis constitute 64% to 69% of the total exports of finished steel and semis. HR Coil export alone constitutes 51 to 56% of the total exports of finished steel. China has withdrawn export rebates on HR Coil whereas continuing with the export rebate on most of the downstream products from May 2021. This only indicates that China is promoting exports of value added products rather than semis and intermediates unlike India.”

Mr Sood also said “Although global prices of HR Coil are high but domestic prices in China are INR 10,000 per tonne lower than that in India. Further, even on removal of Import Duty on HR Coil, import prices from China will be still costlier by Rs.6000 per tonne over the domestic prices.”

CORSMA represents the secondary & non integrated producers of Cold Rolled products spread all over the country with an annual production capacity of over 6 million tonnes of value added Cold Rolled products including Galvanised, Colour Coated, Tin plates and Electrical steel for supply to auto sector, consumer durable industry, electrical equipment manufactures, engineering industry and construction sector.

Source - Strategic Research Institute
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RINL VSP Reports Strong YoY Recovery in Apr-Jun Quarter of 2021

Rashtriya Ispat Nigam Limited, which is on the block or privatization, has reported strong results for April-June 2021 quarter. RINL recently tweeted following numbers

Saleable Steel Production – 1.237 million tonnes, up by 98% YoY

Total Sales – 1.043 million tonnes, up by 54% YoY

Domestic Sales – 0.743 million tonnes, up by 103% YoY

Derived Exports Sales – 0.300 million tonnes

Turnover - INR 5,223 crore, up by 126% YoY

During 2020-21, RINL achieved a turnover of INR 18,000 crore registering an impressive YoY growth of 13%. The sales volumes reached 4.45 million tonnes recording a YoY growth of 4%.

Source - Strategic Research Institute
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Tata Steel Mining & Jindal Stainless to Mine Chrome Ore at Sukinda

Tata Steel Mining Limited and Jindal Stainless Limited have signed a MoU to jointly unearth the chrome ore locked up in the boundary between their mines located in Sukinda of Jajpur district in Odisha. This would help conservation of chromite ore which otherwise would have been left unmined forever. This unique partnership sets an example for Sustainable Chrome Ore Mining in an innovative manner. Both the companies would now initiate steps to get necessary statutory approvals from concerned authorities before jointly starting mining operations.

Tata Steel Mining Managing Director Mr MC Thomas said, "I am very happy to commence this project today with JSL who has been a valued customer and partner. We are committed to sustainable mining and such a joint initiative will set examples for organizations especially in the mining industry to collaborate in the larger interest of mineral conservation and sustainability. These will redefine the way mining is done through technology, mineral conservation and safety".

Jindal Stainless Limited Managing Director Mr Abhyuday Jindal said "This is a very unique collaboration where JSL & TSML will derive maximum value from a joint mining effort. This effort will enhance the availability of ore in the region without any adverse environmental impact, as it's an already explored area. The move will also benefit local economy. As responsible institutions, we are committed to sustainable mining activity in the region."

Source - Strategic Research Institute
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UK’s Steel Industry Urges Government to Block Energy Price Rise

The Mirror reported that UK’s All Party Parliamentary Group on Steel and Metal Related Industries Chairman British Member of Parliament Mr Stephen Kinnock, fearing UK’s energy watchdog Ofgem allowing a hike in power prices, has called on UK’s Business Secretary Mr Kwasi Kwarteng to intervene to prevent a crippling rise in electricity costs for the steel industry. Mr Kinnock wrote “Shockingly, Ofgem is proposing to implement the worst possible outcome for the steel sector, which would double network charges. Despite extensive and in-depth representation made to the energy regulator on the impact of this reform on the sector, its competitiveness, and ability to decarbonise, Ofgem still chose to propose a significant charge increase. When the sector faces increasing calls to decarbonise, it is astonishing that the regulator would choose to make this even harder and considerably damage the competitive business environment for energy intensive industries.”

UK Steel Director General Mr Gareth Stace said “The continued disparity between the electricity prices paid by UK steelmakers and our European competitors is huge, and a massive disincentive to investment in the UK. Every year, GBP 50 million extra is spent on electricity costs that could otherwise be productively invested. The cost for the decarbonisation of the steel sector will run into the billions, and failing to remove these barriers to investment only makes the route to decarbonisation harder. Ofgem themselves have acknowledged that UK steel producers are charged far more than those in other nations. “Recognising this is not enough, words are not enough. Only actions matter, and we urge the government to remove this millstone from the neck of our sector.”

Community steelworkers' union operations director Mr Alasdair McDiarmid said “Our steel industry has to decarbonise, but all the options require more electricity and we need urgent action to bring down the UK’s sky-high prices. Currently we pay twice as much for electricity as our EU competitors, which are a major competitive disadvantage as well as a barrier to delivering the Government’s climate objectives.”

A Business Department spokesman said “We remain committed to supporting UK steelmaking to make the industry more energy efficient, cutting their bills in the process. This includes our Decarbonisation Strategy to support industry to cut emissions, as well as hundreds of millions of pounds in support to the industry, both through dedicated funds and through relief from higher energy bills.”

An industry study, The Energy Price Scandal: A Fair Power Deal for UK Steel, showed the average electricity price for steel producers in the UK is about GBP 65 per megawatt hour, compared with GBP 31 per MWh in France and GBP 43 per MWh in Germany.

Source - Strategic Research Institute
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MMK Launches Modernized CR Mill 1700 at Magnitogorsk

Russian steel maker Magnitogorsk Iron and Steel Works recently celebrated the launch of modernized 1700 two stand reversing cold rolling mill at MMK's sheet rolling shop No 5 in the city of Magnitogorsk in Russia. In February 2020, the operation of mill 1700 was stopped, after which MMK began its reconstruction. The main mechanical equipment of the double-stand reversing mill was supplied by SMS group & the subcontractors for the electronic support of the mill were Primetals Technologies & IMS. Construction and installation works under the control of the capital construction management of PJSC MMK were carried out by OJSC Prokatmontazh and LLC United Service Company. At present, commissioning and hot testing have been completed at Mill 1700, the assortment is being developed and work is underway to achieve the guaranteed contractual parameters and technological parameters of the mill. In the near future MMK will reach the design capacity of the mill, which is about 60,000 tonnes per month, and in total this year MMKK will be able to produce 350,000 tonnes of cold rolled steel at the unit.

The modern automated unit has significantly expanded MMK's capabilities in the production of high-quality cold-rolled steel, including for the needs of the automotive industry. On the reversing mill, for the first time at the mill, a new system for adjusting the flatness of the rolled sheet was applied, excluding such phenomena as widespread in rolling practice as the difference in thickness of the sheet at the edges or in the center. The mill uses a special type of bottle-shaped rolls with a complex profile and their manoeuvrability when moving up and down and relative to each other makes it possible to more flexibly respond to changes in the process of work.

The reversing mill, built in 2002, became the first cold rolling mill commissioned at MMK in the post-Soviet era. The equipment for the mill with a capacity of 800,000 tonnes of cold-rolled steel sheet was supplied by the German engineering company SMS Demag. Since its start up, Mill 1700 has produced over 9.35 million tonnes of cold rolled steel.

Source - Strategic Research Institute
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Steel Dynamics Reports Record Second Quarter 2021 Results

US steel maker Steel Dynamics Inc has announced second quarter 2021 financial results. The company reported record second quarter 2021 net sales of USD 4.5 billion and net income of USD 702 million. Steel Dynamics Chairman & Chief Executive Officer Mr Mark D Millett said "The team performed exceptionally well, achieving record quarterly operational and financial results, including record sales, operating income, cash flow from operations, and adjusted EBITDA. During the second quarter, steel demand remained robust as shipments and product pricing continued their positive momentum across our entire steel platform. Higher steel selling values drove significant metal spread expansion across the entire platform and were most prominent within the flat roll steel operations, as continued demand strength and historically low customer inventories persisted throughout the supply chain and supported prices. Domestic steel consumption was strong from the automotive, construction, and industrial sectors, while the energy sector continued to show signs of rebounding.”

Second Quarter 2021 Highlights

Record steel and fabrication shipments of 2.9 million tons and 189,000 tons, respectively

Record net sales of USD 4.5 billion

Record operating income of USD 956 million

Record net income of USD 702 million

First half 2021 net sales increased 72% and operating income increased 258% to over USD 1.5 billion, when compared to the same period in 2020. Higher earnings were primarily the result of steel metal spread expansion, as significantly higher average steel selling values, more than offset higher average ferrous scrap costs across the steel platform, especially within the company's flat roll steel operations. Compared to first half 2020, the average first half 2021 external selling price for the company's steel operations increased by USD 403 to USD 1,169 per ton. The average first half 2021 ferrous scrap cost per ton melted at the company's steel mills increased USD 140 to USD 406 per ton.

Mr Millett said "We remain confident that macroeconomic and market conditions are in place to support strong domestic steel demand in 2021 and beyond. We continue to see strong steel demand coupled with extremely low customer steel inventories throughout the supply chain. The automotive sector continues to be strong, despite the electronic chip shortage, and other sectors such as construction, equipment and transportation remain solid. Order entry activity continues to be robust across our businesses, and when coupled with low inventory, supports strong steel selling values. We believe this momentum will continue throughout the year and that our third quarter 2021 earnings could represent another record performance. Based on solid domestic steel fundamentals and customer confidence, we continue to be positive regarding North American steel market dynamics. This constructive environment coupled with our strategic growth initiatives provide firm drivers for our further growth in the coming years.”

Source - Strategic Research Institute
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Construction Starts for Metinvest Polytechnic University Complex

Ukrainian Metinvest Group has started construction of the university campus of the first non state mining and smelting university Metinvest Polytechnic in Mariupol. The symbol of the project start has become a dummy of the future university main building, which was assembled by the managers of the Group, university, Ministry of Education and Science of Ukraine, and also by the managers of regional and city authorities. The campus will be located in the city centre, on the Mira Avenue, 105 A, behind the Svoboda Square. At present an area of 3.5 hectares is unoccupied. And already in 2022 here will appear all necessary infrastructures for student’s education and comfort life educational building, dormitory, sports centre and a park. For this, the university has obtained the required authorization documents for work commencement. For example the land allotment project has been approved, an agreement on the lease of a plot of land has been signed, a permission for the preparation work performance and a positive conclusion of the project construction expertise have been obtained, and also the documents for building and construction works permission have been submitted.

The design project of the educational building has been developed by the Dutch bureau MASA Architects of Hiroki Matsuura architect.

A 12-floor building with a total area of about 11,000 square meters will house 15 laboratories, a conference room for 400 people, lecture halls, a modern technical library and classrooms for computer science. The building of the university will be built according to modern technologies from Metinvest steel. At the same site will appear a 6-floor dormitory for students with a total area of about 6000 square meters. A block room system is provided by the project, where each block for two or three rooms will have its own kitchen-dining room and a water closet. Training and fitness studios, medical room and laundry room have been also projected. The university campus will have its own sports centre and park, concept of which is now being developed. By the way, they will be opened for all Mariupol citizens.

Source - Strategic Research Institute
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Mr Gunnar Groebler Takes Over as CEO of Salzgitter AG

Salzgitter announced on 1 July that Mr Gunnar Groebler will take over the chairmanship of the Executive Board of Salzgitter AG on July 1, 2021 and will succeed Prof. Dr Ing Heinz Jörg Fuhrmann, who is going to retire as his employment contract expires due to age. Mr Groebler has been a member of the Executive Board since May 17, 2021. Mr Groebler previously held leading positions in the international energy company Vattenfall, most recently as a member of the Executive Group Management, responsible for the Wind Business Area.

Mr Groebler said “I am looking forward to my tasks and challenges in the Salzgitter Group and have already used the opportunity over the past few weeks to get to know many colleagues during visits to various locations and with you to get into conversation. Thanks to the good work of the past few years and despite the challenges of the corona pandemic, the company is on very solid feet, for which I would like to thank the entire team and in particular Prof Fuhrmann. Now it is a matter of continuing to develop the group as a steel and technology group with a focus on the future, with a particular focus on SALCOS Salzgitter Low CO 2 steelmaking. With this transformation project for CO 2 low-carbon steel production, Salzgitter AG is a leader in the steel industry. We will now quickly expand our good starting position. With the start of construction on our µDRAL direct reduction plant in Salzgitter, the next steps have already been initiated. "

Source - Strategic Research Institute
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Severstal Reports Strong Results for Q2 & H1 of 2021

Russian steel giant Severstal has announced results or April-June 2021 quarter & H1 of 2021. Severstal Management CEO Mr Alexander Shevelev said “In terms of macro factors, Q2 results 2021 proved to be exceptionally strong. The on going recovery in industrial production has supported steel and raw material prices in all key regions. This allowed for strong financial results in the reporting quarter. Revenue increased by 33% QoQ to USD 2.9 billion driven by higher average realized prices and higher sales volumes, as well as improvements in the product mix, with the share of high value-added products growing by 3pp and amounted to 49%. EBITDA increased by 42% to USD 1.6 billion due to higher revenues and sales prices.”

April-June 2021 Quarter

Revenue – USD 2,946 million, up 33% YoY

EBITDA – USD 1,647 million, up 42% YoY

Net profit – USD 1,139 million, up 58% YoY

Production Pig iron - 2.627 million tonnes, down 2% YoY

Production Steel - 2.776 million tonnes, down 6% YoY

Sales Steel products – 2.678 million tonnes, up 2% YoY

Sales High added value -1.308 million tonnes, up 7% YoY

Sales Iron ore - 1.310 million tonnes, up 28% YoY

Sales Coal - 0.282 million tonnes, down 18 YoY

H1 of 2021

Revenue - USD 5,165 million, up 56.8% YoY

EBITDA – USD 2,809 million, up 166% YoY

Net profit – USD 1,860, up 4x YoY

Production Pig iron – 5.301 million tonnes, up 12% YoY

Production Steel 5.737 million tonnes, up 1% YoY

Sales Steel products - 5.308 million tonnes, up 4% YoY

Sales with high added value – 2.530 million tonnes, up 12% YoY

Sales Iron ore - 2,334 million tonnes, down 26% YoY

Sales Coal – 0.627 million tonnes, down 17% YoY

Mr Shevelev said “Steel demand was high in Q2 of 2021 thanks to industrial recovery, low stock levels and optimistic expectations for the progress of vaccination programs. The supply exceeded demand, which led to an increase in delivery times to the EU and the USA. The seasonal increase in consumption supported Asian markets in the spring of 2021, but demand growth slowed in June. In this regard, supplies from Asia to the Middle East and Europe increased, which caused a weakening of export prices in the Black Sea region. Demand in Turkey also fell, which put additional pressure on prices. At the same time, market conditions in Europe and the United States remain under pressure from import barriers and insufficient domestic supply. The Chinese government has begun to tackle price increases with a policy of curbing steel exports and tighter regulation of futures trading. The Russian Government is introducing a temporary 15% export duty on steel, which comes into force from August 1, 2021 to December 31, 2021.”

Mr Shevelev added “The COVID-19 pandemic continues to spread around the world, and Russia is no exception. The number of new cases has increased significantly in recent weeks. The health of our employees is our number one priority, which is why we have strengthened all preventive measures. An important area of our work to reduce the risk of infection has become an information campaign urging our employees and contractors to get vaccinated. Already today, more than 50% of our employees have collective immunity, and we plan that by the end of the summer this share will reach 80%.”

Source - Strategic Research Institute
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US Steel Production Capacity Utilization Climbs to 84% in Week 28

American Iron & Steel Institute announced that in the week ending on July 17, 2021, US’s domestic raw steel production was 1,859,000 net tons while the capability utilization rate was 84.1%. Production was 1,350,000 net tons in the week ending July 17, 2020 while the capability utilization then was 60.3%. The current week production represents a 37.7% increase from the same period in the previous year. Production for the week ending July 17, 2021 is up 0.4% from the previous week ending July 10, 2021 when production was 1,852,000 net tons and the rate of capability utilization was 83.6%.

Broken down by districts, here’s production for the week ending July 17, 2021 in thousands of net tons

North East: 146

Great Lakes: 632

Midwest: 199

Southern: 803

Western: 79

Adjusted year-to-date production through July 17, 2021 was 50,787,000 net tons, at a capability utilization rate of 79.6 percent. That is up 17.8% from the 43,114,000 net tons during the same period last year, when the capability utilization rate was 66.7%.

Source - Strategic Research Institute
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VALYNT Unveils Low Cost Super Shred Metal Scrap Product

VALYNT has launched its innovative Super Shred as the new raw material for a rapidly evolving American steel industry. Super Shred is a low copper content, shredded-steel material intended for a wide variety of mill applications including coils and bars. Developed specifically by VALYNT to help propel the booming steel market, Super Shred is already being supplied to industry leaders like Alton Steel Inc. VALYNT President & Managing Director Charles Smith said "Supply and demand for steel is at an all time high right now. The global manufacturing market is betting on a major rebound after the devastating economic effects of the Covid-19 pandemic, but production is having a hard time keeping up with the demand. Adding to the pressure, the largest iron ore miners are having some major operational issues while still recovering from the last two years driving up prices sharply for steel producers. So we're extremely pleased to introduce our Super Shred product to the world. In addition to the specialized hot briquetted iron we already supply, Super Shred is an excellent low-cost, renewable substitute that will galvanize the industry, absolutely revolutionizing how steel is produced."

VALYNT is a Missouri-based firm specializing in steel & aluminium production, additives to enhance crude oil production and refinement, and supply line logistics for both government and private sector interests. At the forefront of radical technical process enhancements that reduce supply-chain friction and overall costs, other products and services provided by VALYNT include:

Oilfield Products: High efficiency, lower-cost oilfield products in bulk quantities, including the patent-pending VX-25, a hybrid additive package that catalytically optimizes heavy and medium crudes for energy improvement.

Logistics: Complete management of shipping and receiving of carbon, scrap metals, and petrochemicals, end to end.

VALYNT partners include Saudi Aramco, Kuwait Oil Company, Kataman Metals, Energy Supply & Services Company, Alton Steel Inc, Liberty Steel and Wire, and Engineered Lubricants.

Source - Strategic Research Institute
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Nippon Steel Engg Starts Denitration Facility at BNA CGL in China

Nippon Steel Engineering Co Ltd last month said that it has completed construction of the No 4 Continuous Galvanizing Line denitration facility ordered by Baosteel NipponSteel Automotive Sheet Co Ltd in Baoshan District in Shanghai. The Facility has smoothly commenced operation. With the tightening of NOx gas emissions regulations by the Chinese government, the catalytic denitration facility was newly installed on the radiant tube heating furnace's combustion exhaust system with the objective of reducing the amount of NOx emissions from NSE's No 4 CGL, delivered in 2015. NSE contracted the design of the denitration facility set, produced the devices (catalyst, blower, and electrical items), and the supervision of the adjustments made during installation and test run.

It was a difficult project carried out amid concern of the impact of the COVID-19 pandemic. However, we received the high recognition of our customer by achieving the following two matters.

Minimization of the scope of remodelling and shortening of the construction period - By utilizing a space-saving design that adopted a configuration wherein a catalyst unit reaction tower were shipped in pieces to be assembled on site, we achieved minimization of the scope of remodelling the existing line as well as the shortening of the construction period.

High, stable denitration performance - Achievement of high, stable denitration performance through control of the ammonia injection amount into one tailored to the operational characteristic of a continuous annealing furnace for steel sheets and an ammonia diffusion structure.

Source - Strategic Research Institute
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GMS Market Commentary on Ship Breaking in Week 28

World's leading cash buyer of ships for recycling GMS said that “Demo markets continue their upward trajectory this week and the USD 600 per LDT barrier, as suspected last week, was indeed breached on a number of select units. This may be due to a general paucity in the overall supply of tonnage over these quieter summer & monsoon months, whilst local steel plate prices have regained momentum of late, especially after stalling a few weeks ago. Just how much longer this momentum will last, remains to be seen. But for now, fundamentals for this seemingly sustained rally of demand and pricing from sub-continent. End Buyers are clearly far from being satisfied at this time.”

GM said “Bangladesh leads the way once again with a stellar showing on levels this week, while Gadani Recyclers remains hot on the heels of their Chattogram competitors. Meanwhile, India remains positioned some ways behind its sub-continent recycling contemporaries, even though Alang Buyers are starting to narrow the gap once again, especially after a downward trend that prevailed over the last few weeks. Lastly, the Turkish market remains suspended and relatively unchanged since last week, given the onset of Eid Holidays until July 26th, and an overall quieter time coming up for this market.”

GM added “Reopening days loom in the UK, with several states in the U.S. already starting to fully re-open, as the vaccine push ramps up so that economies can firm up again and some form of normality can finally ensue. However, the troubling Delta variant is starting to take hold and resuming the spread once again, especially amongst those who are yet to be vaccinated. Of course, there is still some resistance in certain countries where vaccine supplies and uptake have yet to fully take hold, but it will be interesting to see how those countries that is reopening, fare in the near future, as the world looks to put the worst of the pandemic behind.”

GMS Pricing

India/Bangladesh/Pakistan – Week 28, Improving

Dry Bulk – USD 540-580 per LDT

Tankers - USD 550-590 per LDT

Containers - USD 560-600 per LDT

Source - Strategic Research Institute
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BHP Reports 2% Increase in Iron Ore Production for FY 2021-22

BHP Chief Executive Officer Mike Henry said "BHP safely delivered another year of excellent operational performance and its second consecutive financial year with zero fatalities at our operated assets. We set several production records and brought on four major projects safely, on schedule and on budget. We achieved production records at our Western Australia Iron Ore operations and the Goonyella Riverside metallurgical coal mine in Queensland. We maintained all-time high concentrator throughput at our Escondida copper mine in Chile. Olympic Dam in South Australia had its highest annual copper production since BHP acquired the asset in 2005, and its best-ever gold production. South Flank, the largest and one of the most technically-advanced iron ore mines in Australia, began production in May and will boost the overall quality of BHP’s iron ore product suite. In the same month, the Ruby project in Trinidad and Tobago started production. Atlantis Phase 3 in the Gulf of Mexico and the Spence expansion in Chile began production in the first half of the year.”

Total iron ore production increased by two per cent to 254 million tonne. Production of between 249 million tonne and 259 million tonne is expected in the 2022 financial year.

WAIO production increased by one per cent to a record 252 million tonne (284 million tonne on a 100 per cent basis), reflecting record production at Jimblebar and Mining Area C, which included first ore from South Flank in May 2021. This was achieved despite significant weather impacts, temporary rail labour shortages due to COVID-19 related border restrictions and the planned Mining Area C and South Flank major tie-in activity. Strong operational performance across the supply chain reflected continued improvements in car dumper performance and reliability, and train cycle times.

Vandi resource has commenced its end-of-life ramp-down as South Flank ramps up and is expected to continue to provide supply chain flexibility with a lower level of production to continue for a few years.

Production of between 246 million tonne and 255 million tonne (278 million tonne and 288 million tonne on a 100 per cent basis) is expected for the 2022 financial year as WAIO continues to focus on incremental volume growth through productivity improvements. We continue with our program to further improve port reliability and this includes a major maintenance campaign on car dumper one planned for the September 2021 quarter.

Samarco production was 1.9 million tonne following the recommencement of iron ore pellet production at one concentrator in December 2020. Production of between 3 and 4 Mt (BHP share) is expected for the 2022 financial year. Production capacity of approximately 8 Mtpa (100 per cent basis) is expected to be reached in the second half of the 2022 financial year.

Metallurgical coal production decreased by one per cent to 41 million tonne (73 million tonne on a 100 per cent basis), in line with original guidance. Production is expected to be between 39 million tonne and 44 million tonne t (70 million tonne and 78 million tonne t on a 100 per cent basis) in the 2022 financial year as we expect restrictions on coal imports into China to remain for a number of years. Production is expected to be weighted to the second half of the year due to planned wash plant maintenance in the first half of the year. At Queensland Coal, strong underlying operational performance, including record production at Goonyella facilitated by record tonnes from Broadmeadow mine, was offset by significant wet weather impacts across most operations earlier in the year, as well as planned wash plant maintenance at Saraji and Caval Ridge in the first half of the year. At South Walker Creek, despite record stripping, production decreased as a result of higher strip ratios due to ongoing impacts from geotechnical constraints and lower yields.

Energy coal production decreased by 17 per cent to 19 million tonne. Production is expected to decrease to between 13 million tonne and 15 million tonne in the 2022 financial year, reflecting the announced divestment of our interest in Cerrejbn in June 2021 and those Cerrejbn volumes will now be separately reported from 1 July 2021 until transaction completion.

NSWEC production decreased by 11 per cent to 14 million tonne t despite increased stripping. This decrease reflects significant weather impacts and higher strip ratios, as well as lower volumes due to an increased proportion of washed coal in response to widening price quality differentials, consistent with our strategy to focus on higher quality products, and reduced port capacity following damage to a shiploader at the Newcastle port in November 2020. The shiploader is expected to be back in operation during the September 2021 quarter. Production is expected to be between 13 million tonne and 15 million tonne in the 2022 financial year reflecting a continued focus on higher quality products.

Cerrejbn production decreased by 30 per cent to 5 million tonne mainly as a result of a 91-day strike in the first half of the year and subsequent delays to the restart of production, as well as the impact of a reduced operational workforce due to COVID-19 restrictions. On 28 June 2021, BHP announced it had signed a Sale and Purchase Agreement with Glencore to divest its 33.3 per cent interest in Cerrejbn. The transaction has an effective economic date of 31 December 2020. Subject to the satisfaction of customary competition and regulatory requirements, we expect completion to occur in the second half of the 2022 financial year.

Source - Strategic Research Institute
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Om zo'n boete lachen ze. Het is goedkoper om te lozen i.p.v. betalen voor verwijderen.

Milieudienst legt Tata Steel dwangsom op
Van onze redacteur 07:58

Tata Steel in IJmuiden moet stoppen met het lozen van kwik en andere schadelijke stoffen op het riool. Doet het bedrijf dat niet, dan legt de provincie Noord-Holland het staalbedrijf een dwangsom op van €20.000 per overtreding.

De Omgevingsdienst Noordzeekanaalgebied heeft dit vorige week bekendgemaakt. De provinciale instelling noemt een termijn van vier weken waarbinnen Tata Steel de lozingen van schadelijke stoffen moet hebben beëindigd. Ook wordt van Tata geëist dat het op de juiste wijze verslag doet van de chemische analyses van het afvalwater.

Tata ligt al geruime tijd onder vuur van de toezichthouder. In maart kreeg de staalfabrikant een waarschuwing. Daarbij zei de milieudienst dat Tata geen vergunning heeft voor het lozen van kwik. Tata stelde wel een vergunning te hebben voor het lozen van kwik op het riool.

Lees het volledige artikel: fd.nl/ondernemen/1404015/milieudienst...
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9 ArcelorMittal Plant in Europe Get Responsible Steel Certification

ArcelorMittal announced that it has achieved ResponsibleSteel site certification in Belgium, Germany and Luxembourg. The company’s steelmaking sites at Geel, Genk, Gent and Liège in Belgium, Belval, Differdange and Rodange in Luxembourg and Bremen and Eisenhüttenstadt in Germany have been independently audited and found to meet the standards required for ResponsibleSteel, the industry’s first global multi-stakeholder standard and certification initiative. The ResponsibleSteel audit process enables each site to prove that its production processes meet rigorously defined standards across a broad range of social, environmental and governance criteria including

? Climate change and greenhouse gas emissions

? Water stewardship and biodiversity

? Human rights and labour rights

? Community relations and business integrity

The standard is based on 12 principles with a variety of criteria and underlying requirements. To be awarded with ResponsibleSteel certification, each site has to undergo a detailed third-party audit, with an independent Certification Committee making the final certification decision. ArcelorMittal worked with international auditor AFNOR and its German subsidiary GUTcert, both specialist companies providing certification and assessment services.

ArcelorMittal Europe Long Products is also targeting ResponsibleSteel certification, at more of its sites during 2022.

After the initial phase in Europe, further ArcelorMittal sites around the world will be part of the programme.

In 2021, ResponsibleSteel will launch a standard for the certification of steel products, which will include stringent requirements for raw materials supply chain. ArcelorMittal will continue to play an active role in developing this aspect of the programme.

Source - Strategic Research Institute

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