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UK Government’s Green Steel Policy to Support Decarbonisation

The Mirror reported that UK’s Secretary of State for Business Energy and Industrial Strategy Mr Kwasi Kwarteng said the government wantsto support the sector as it battles to slash emissions. He told the Commons Business Select Committee “The kind of principle behind any long-term future for the industry, which I passionately believe in, means some deal around decarbonisation Government support for the industry. We are definitely looking at a potential steel consultation, steel deal, if you like. It's definitely something that's being considered.”

Mr Kwarteng also insisted ministers wanted to avoid the industry lurching from one crisis to another. Mr Kwarteng said “In the next few months we should have more clarity about what we will be coming out with, but I definitely hear the arguments that we have to think of steel on a longer-term basis because I and a number of my predecessors have dealt with steel crises over the last five or six years now on an ad-hoc basis. We had the Tata Steel crisis in 2016, we've had an on going issue with British Steel and Greybull and selling it onto Chinese firm Jingye after a period where it was being looked after by the Official Receiver and we've got issues now. I want to have a much more sustainable approach.”

UK’s All Party Parliamentary Group on Steel and Metal Related Industries Chairman British Member of Parliament Mr Stephen Kinnock said “When he was asked about whether the steel industry would be granted the type of sector deal awarded to industries such as automotive, aerospace and construction, all of which are underpinned by UK steel, the Business Secretary replied, almost satirically, We are definitely looking at a potential steel consultation. It is this type of vague non-commitment that has led UK steelmakers to wonder if the UK Government is really committed to the industry, and if it has any concept at all of how important UK steel is to our defence, our infrastructure, our national resilience, our industrial communities and to greening our economy. The Government must commit to a sector deal for steel, with decarbonisation and a just transition for workers at its heart, along with action on sky-high industrial electricity prices, and a commitment from UK Government agencies to buy British.”

Community steelworkers' union operations director Mr Alasdair McDiarmid said “Safeguarding the long-term future of our strategic industry means we have to decarbonise, which can only be achieved with government leadership and the full engagement of all stakeholders. Steelworkers must be at the centre of decision-making and a fair transition will require extensive investment that protects jobs and steel communities. There’s no doubt a strong British steel industry is essential for delivering our climate objectives. It should be a no-brainer because either we make the steels here, supporting tens of thousands of good jobs, or we give up those jobs and rely on high-carbon imports from countries playing by different rules.”

Source - Strategic Research Institute
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ArcelorMittal & SEKISUI CHEMICAL Ink Carbon Recycling Partnership

ArcelorMittal and SEKISUI CHEMICAL are partnering on a project to capture and re-use carbon waste gases from the steelmaking process, which holds the potential to reduce dependence on fossil resources and contribute to the decarbonisation of steelmaking. In the project CO2, which would otherwise have been emitted, will be separated and recovered from carbon-rich waste gas from the steelmaking process. An innovative chemical process, developed by SEKISUI CHEMICAL in Japan, then converts the waste CO2 into carbon monoxide rich Synthesis Gas, carbon monoxide and hydrogen. The Synthesis Gas is then returned to the steelmaking process as an alternative reduction agent for iron ore, thereby lowering the volume of fossil resources required in the steelmaking process.

Key to this work is SEKISUI CHEMICAL’s innovative technology that converts CO2 to carbon monoxide at high yield. To date, producing carbon monoxide in large volumes from CO2 has been very challenging. SEKISUI CHEMICAL aims to demonstrate the ability to scale up its new technology through this partnership with ArcelorMittal.

The technology will initially be trialled over a three-year period at one of ArcelorMittal’s research and development laboratories located in Asturias, Spain, commencing in the third quarter of 2021. The investment cost of the project is USD 1.9 million.

ArcelorMittal has a target of reducing CO2 emissions in Europe by 30 per cent by 2030 and producing carbon-neutral steel group-wide by 2050. To this end, ArcelorMittal is pioneering two breakthrough carbon-neutral technology pathways, Smart Carbon and Innovative-DRI. Within its Smart Carbon pathway, ArcelorMittal is already developing and deploying other carbon capture and re-use technologies including Carbalyst, a EUR 165 million project in Ghent, Belgium, which converts carbon-rich steelmaking waste gases into bio-ethanol, and IGAR, an industrial-scale pilot project in Dunkirk, France, to capture waste CO2 and waste hydrogen from the steelmaking process and convert it into synthetic gas to replace the use of fossil fuel in steelmaking.

Source - Strategic Research Institute
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UK Government Wants Mr Gupta to Control Liberty Steel

British media Business Live reported that UK’s Secretary of State for Business Energy and Industrial Strategy Mr Kwasi Kwarteng said that Mr Sanjeev Gupta should still be allowed to control Liberty Steel despite concerns over poor corporate governance and opaque financing at his company. He believes the GFG Alliance could raise the funds to save the firm but contingency plans are being drawn up should the Government need to step in. Taking questions from the BEIS select committee, Mr Kwarteng said “If for whatever reason the refinancing doesn’t work out we have options. We are considering options of how we can take things forward. I have always said that we’ve got to wait and see what happens because the nature of the collapse of the financing, the nature of the state of the business is actually in will determine Government’s action. It could well be that there’s another buyer and that’s something we would have to investigate.”

He also explained that a commitment had been made to allow GFG to continue to run the business, saying “Even though GFG and the Gupta family group had financial difficulties, if Mr Gupta could refinance those assets it’s only right for us to give him the chance to do that, to intervene now would breach that commitment. Previously GBP 170 million was asked for from the Government, which was rejected. He wants to find private financing with his lenders and we have to see that process through.”

MPs pointed out that the Government had provided support to Tata Steel in the past to save jobs, but the minister said the proposals from the rival firms were substantively different. He told “There was much more clarity and assurance that any support we provided would stay in the plant and stay in the UK. There was far less transparency in regards to Mr Gupta’s request than there was with Tata’s and the situation is completely different. GFG had an opaque financing structure.”

The minister insisted that Liberty Steel still has a viable future in the UK but needed investment to realise its potential.

Source - Strategic Research Institute
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LME Launches 3 New Steel Futures Contracts

London Metal Exchange has launched six new cash-settled futures contracts, including for scrap & HRC. New cash-settled futures trade monthly out to 15 months and priced in USD. LME Chief Sustainability Officer Georgina Hallett said “We are really pleased to be delivering an important element of our sustainability strategy, which positions transparency and access as the core components for making metals the cornerstone of a sustainable future. Our lithium and scrap contracts are the product of valuable engagement with the metals and mining industry, our members and core users, as we all seek to best support the growth of the circular and low carbon economies.”

Steel HRC NW Europe (Argus) - CSHNc1=LX

Steel Scrap CFR Taiwan (Argus) - CSSTc1=LX

Steel Scrap CFR India (S&P Global Platts) - CSSIc1=LX

LME CLOSING PRICES - Steel Scrap CFR India - Data valid for 19 July 2021

? Month 1 - 489.50 USD per tonne

? Month 2 - 493.50 USD per tonne

? Month 3 - 494.50 USD per tonne

? Month 6 - 493.00 USD per tonne

? Month 12 - 459.50 USD per tonne

? Month 15 - 451.50 USD per tonne

Source - Strategic Research Institute
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DRDO Develops High Strength Beta Titanium Alloy for Aerospace

India’s Defence Research and Development Organisation has indigenously developed a High Strength Metastable Beta Titanium Alloy containing Vanadium, Iron and Aluminium, Ti-10V-2Fe-3Al on industrial scale for applications in aerospace structural forgings. It has been developed by DRDO’s Hyderabad based laboratory Defence Metallurgical Research Laboratory , a premier. These alloys are already being used by many developed nations in recent times as beneficial substitute for the relatively heavier traditional Ni-Cr-Mo structural steels to achieve weight savings. The excellent forgeability of high strength-to-weight ratio Ti-10V-2Fe-3Al alloy facilitates manufacture of intricately configured components for aerospace applications with potential for significant weight savings. Some of the components which may be forged from this alloy include slat & flap tracks, landing gear, and drop link in landing gear, among several others.

The high strength beta titanium alloys are unique due to their higher strength, ductility, fatigue, and fracture toughness, making them increasingly attractive for aircraft structural applications. Furthermore, their relatively lower lifetime cost, owing to superior corrosion resistance in comparison to steels, is an effective trade-off to justify the use of this expensive material in India too. The DMRL has carried out raw material selection, alloy melting, thermo-mechanical processing, ultrasonic-based Non Destructive Evaluation heat treatment, mechanical characterization, and type certification in active collaboration with several agencies. Aeronautical Development Agency has identified over 15 steel components which may be replaced by Ti-10V-2Fe-3Al alloy forgings in the near future with a potential of 40% weight savings. The landing gear drop link is the first component forged successfully by ADA at HAL, Bengaluru with DMRL’s involvement and duly certified for airworthiness.

Source - Strategic Research Institute
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Nucor to Acquire Hannibal Industries

Charlotte based US Steel Maker Nucor announced an agreement to acquire Los Angeles based steel racking manufacturer Hannibal Industries Inc for USD 370 million for Hannibal. Hannibal has two manufacturing facilities, one in Los Angeles and one in Houston, and three distribution centers. It provides racking for warehouses in the e-commerce, industrial, retail and food storage segments.

The Hannibal announcement comes after Nucor announced one of it’s largest-ever acquisitions last month. Nucor said in June it would buy the insulated metal panel business of Cary-based Cornerstone Building Brands for USSD 1 billion. Nucor say those two recent acquisitions complement each other well.

Nucor is touting the acquisition as one that can improve its ability to provide supply chain efficiencies along with its other businesses. Nucor Corp President & CEO Mr Leon Topalian said "Acquiring Hannibal Industries gives us a new growth platform and broadens our offering to the fast-growing warehouse channel, and complements our current product capabilities, including beams, joists and deck, metal buildings and insulated metal panels. This acquisition reflects our strategy of expanding beyond our core steel businesses and establishes a new area for Nucor to pursue a market leadership position."

Source - Strategic Research Institute
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Tata Steel Starts Water Treatment Plant at Manganese Mines in Joda

Tata Steel’s Ferro Alloys & Manganese Division has inaugurated a 400 kilolitres per day Water Treatment Plant at manganese mines at Bichakundi under Joda block of Keonjhar district of Odisha on 19 July 2021. Water Treatment Plant will treat water from the Suna River and will address the drinking water need of around 2800 people residing in Bichakundi including the employees of the company and people from the community in and around Bichakundi. The water treatment plant will produce potable water that meets all quality parameters set by World Health Organization.

Raw water is taken to the treatment plant from the river through intake pumps and pipelines and is stored in the reservoir. After chemical dosing of the raw water, the coagulation process activates post which, the first filtration is done through Pressure Sand Filter and Manganese Oxide Filter. The water then goes through the second filtration process involving Ultrafiltration to achieve turbidity of less than 1 Nephelometric Turbidity Units which meets the quality parameter set for drinking water. The wastewater generated during the filtration process will be collected in a pit and will be used for gardening purposes.

Source - Strategic Research Institute
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Indian Tinplate Maker Warn on Low Grade Tinplate in Food Packaging

Indian Tinplate Manufacturers Association Chairman Mr RN Murthy wrote in Business Line that rampant use of cheaper non prime tinplate continues to be a dampener in India, posing threat to the health and safety of Indian population at large and it is time for India to recognise the threat and take actions to ban usage of non prime tinplate, like other developed economies. He wrote “Despite having adequate capacity to manufacture tinplate to meet domestic demand, India imports 35-40% of its requirement of tinplate, much of it of low quality. Nearly 70% of tinplate used in India is for packing foods and 80% of imports by India are non-prime and low quality. In fact, nearly 25% of the non-prime low-grade tinplate produced globally is dumped into India every year, causing severe health and safety hazards to a large population. When used for packaging food, higher grades of tinplate are recommended by regulators, including the Food Safety and Standards Authority of India, as low-quality tinplate may contaminate food.”

He wrote “The government of India had sought to prevent the use of non-prime tinplate in food cans through the Steel and Steel Product Quality Control Order dated July 17, 2020. The implementation has, however, been deferred twice.”

He added “While tinplate demand in India was around 0.6 million tonne in FY 2020-21, domestic installed capacity is at 0.73 million tonne, which is enough and more for domestic demand. The virtual free access to Indian tinplate market for cheap imports has led to Indian tinplate mills running at 70% capacity. In the last three years it has also led to closure of close to 0.15 million tonne of indigenous capacity.”

He also highlighted “An anti-dumping investigation, carried out by Director General Trade Remedies in 2020, found that imports were being dumped into India at unfair prices causing injury to the domestic tin-mills and had since proposed anti-dumping duty ranging between USD 222-334 per tonne on tinplate imports from countries such as the US, EU, Korean Republic and Japan, except Nippon steel. The anti-dumping duty recommendation has not been implemented.”

India’s tin can making industry association Metal Container Manufacturers Association has urged the government to drop the steel and steel products quality control order for now, issued by the Ministry of Steel to impose mandatory BIS certification. The government had issued the order on July 17, 2020, pushing units for BIS certification for the major input material required such as tinplate, tin-free steel, and had also imposed restrictions on various steel products like easy-open ends, peel off ends etc. MCMA said “Considering Covid-19 situation with restriction on movements in and out of the country including International travel, MCMA recommends to defer this notification till March 2022. It is virtually impossible to force the international suppliers for BIS certifications as the procedure of BIS registration is highly cumbersome.”

Source - Strategic Research Institute
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Modernization of BF & SMS at Magnitogorsk Works Continues

Russian steel maker Magnitogorsk Iron and Steel Works on the eve of the Day of Metallurgist MM GD Mr Pavel Shilyaev briefed the Governor of the Chelyabinsk Region Mr Alexey Teksler with the implementation of several investment projects of Magnitka. One of them is the reconstruction of a complex of gas cleaning units for capturing fugitive (secondary) emissions from the converter department of the oxygen-converter shop. The BCC of PJSC MMK with an annual capacity of over 10 million tonnes of steel per year is one of the most powerful among similar shops in the world. It was commissioned in 1990. The main task of the project for the reconstruction of dust and gas collection units and gas exhaust ducts of converters No 1, 2, 3 and the overflow section of cast iron at KKTs is to reduce emissions of pollutants into the atmosphere and into the working space of the converter department of KKTs due to more efficient collection and cleaning of flue gases generated when pouring cast iron from a mixer into a ladle, pouring cast iron into a converter and blowing a melt. As part of the project, in February 2020, a contract was signed with Primetals Technologies Austria GmbH for the supply of basic engineering and equipment for the reconstruction of a complex of gas cleaning units of the converter department of the KKTs. The construction cost is 3.5 billion rubles. As a result of the reconstruction of dust and gas collection units, the efficiency of dust and gas cleaning will increase; it is planned to completely eliminate fugitive emissions from converters in all operating modes. Thus, the negative impact on the environment will be minimized. After the project implementation, gross dust emissions of the BCC will be reduced by at least 500 tons per year.

An equally important environmental project is being implemented in the electric arc furnace shop. By May 2022, a new gas cleaning unit for the electric arc furnace No. 1 with a capacity of 2400 thousand cubic meter per hour will be built here . As a result of the project, dust emissions will be reduced by 300 tons per year. Construction cost of 2.7 billion rubles. A real breakthrough for MMK's blast furnace production will be the construction of the blast furnace No 11 complex. The contract for the implementation of this investment project between PJSC Magnitogorsk Iron and Steel Works and Paul Wurth, a subsidiary of the SMS GmbH group of companies, entered into at the end of June. The project is designed for 3.5 years. The cost of building blast furnace No. 11 is 61.3 billion rubles. The working volume of the new blast furnace will be 3.8 thousand cubic meters, the capacity of 3.7 million tons of pig iron per year. The new blast furnace will be built using the world's best technology.

The use of advanced technologies, high equipment of the new blast furnace complex with environmental protection facilities, as well as the decommissioning of obsolete furnaces will allow MMK only within the framework of this project to reduce emissions of harmful substances into the atmosphere by 6.6 thousand tons per year and CO2 emissions by 1 million 123 thousand tons per year.

Source - Strategic Research Institute
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Salzgitter Flachstahl Constructing New Hot-Dip Galvanizing 3

In June 2019, Salzgitter Flachstahl began building Hot-Dip Galvanizing 3 at the Salzgitter location, one of the largest single investments in the past ten years. The project partner as a plant manufacturer is the SMS Group from Düsseldorf. Kümper + Schwarze and Max Kroker have the foundations and the process hall was built by Donges SteelTec. With an annual capacity of 500,000 tonnes, the new production facility complements the two existing hot-dip galvanizing plants at Salzgitter Flachstahl. The new plant will produce hot dip galvanized sheet metal with thicknesses between 0.7 and 2.5 millimeters and widths between 900 and 1,700 millimeters.

After the construction of the process hall and the switching houses had progressed well, the company SMS started to build the actual plant at the beginning of June. Parts of the furnace, the belt storage and engine parts have already been delivered to Salzgitter. The tanks for pre-cleaning were installed as the first parts.

Hot-dip galvanizing 3 will start operating in 2022. The aim is to produce high-strength steel grades for body and chassis applications, which play an important role in lightweight automotive construction and vehicle safety.

The innovations of the system are preferably to be found in the technologically relevant units in the furnace area. The spectrum of materials will range from ultra-high-strength dual-phase steels to complex-phase steels and 3rd generation Advanced High Strength Steel. The configuration of the entire system also offers the structural and technical prerequisites for implementing further innovative material concepts.

Source - Strategic Research Institute
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Bajaj Group to Acquire Additional Stake in Mukand

PTI reported that the Competition Commission of India has approved acquisition of certain equity shareholding of Mukand Ltd by Bajaj Group entities. The proposed transaction envisages the acquisition of up to 16.57% of the equity share capital of Mukund by the acquirers Bajaj Sevashram Pvt Ltd, Bachhraj and Company Pvt Ltd, Bachhraj Factories Pvt Ltd and Sanraj Nayan Investments Pvt Ltd, all part of the Bajaj Group of companies. The acquisition is in addition to the around 57.7% of the issued and paid-up equity share capital presently held by the Bajaj Group.

The sellers are co-promoters of Mukand along with the Bajaj Group.

The acquirers are investment and lending companies, while Mukand is engaged in the business of manufacturing, marketing, selling, exporting distribution of specialty steel long products and heavy machinery, the release said.

Source - Strategic Research Institute
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JFE Steel AI System for Analyzing Steel Sheet Surface Textures

JFE Steel Corporation has developed and deployed the world’s first steel-sheet surface-inspection system that uses human perceptiveness to distinguish subtle visual differences in surface textures, resulting in improved defect detection. The system, which is now part of a hot-dip galvanized-steel-sheet manufacturing process at the Kurashiki facility of JFE Steel’s West Japan Works, eventually will be deployed company-wide to enhance the surface quality of a range of products for enhanced customer satisfaction.

JFE Steel has been developing inspection systems to further improve the quality of its steel products, including surface-inspection systems that automatically process images for defect detection. The systems use multiple light sources and cameras to highlight luminance differences in images of normal and defective surfaces. But because these differences can be very subtle at times, human inspection is still required sometimes. In response, JFE Steel has developed and is now using a proprietary system that incorporates a novel defect-detection method. Similar to the visual cognitive functions of humans, the system calculates the degree of similarity between captured images and striped patterns of various lengths and orientations, which it then uses to calculate the probability of defects. The system calculates degrees of abnormality by quantifying differences in patterns compared to normal surface images, even when shading differences are minor, a challenge for conventional automatic inspection systems.

JFE is actively deploying digital transformation initiatives for improved productivity and operational stability, including by opening its JFE Digital Transformation Center and introducing cyber-physical systems in all production processes. JFE Steel is committed to contributing to a more sustainable world by deploying DX in solutions that help to resolve pressing needs in the manufacturing field.

Source - Strategic Research Institute
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Metalloinvet’s OEMK Ball Rolling Facility Producing 90mm Balls

Metalloinvest’s Alexey Ugarov Oskol Electrometallurgical Plant has implemented the production of a new type of product, balls 90 mm in diameter of the second and third hardness groups, at its ball rolling facility. Balls of this diameter are intended for mills where rock mass is ground through abrasion. This makes it possible to obtain finely ground raw materials for the production of higher quality iron ore concentrate. The new products will be supplied to Metalloinvest’s own enterprises, Lebedinsky and Mikhailovsky GOKs, as well as to external consumers.

The ball rolling facility was launched at OEMK in November 2020. The facility also produces balls with a diameter of 100-120 mm, weighing 4.6 and 8kg and of 2nd and 3rd hardness groups in accordance with the GOST 7524-2015 standard.

In order to implement the production of balls with a 90mm diameter, documentation on the calibration and ball production technologies was developed, and the purchase and delivery of work roll bands and guide fittings were carried out.

The annual production capacity of the BRF is around 43,000 tonnes of rolled steel grinding balls. Metalloinvest’s investment in the project was around 1 billion roubles.

Source - Strategic Research Institute
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Steel Rebar Prices in Pakistan Cross USD 1000 Mark

The Express Tribune reported that Pakistan’s steel rebar manufacturers have continued to jack up prices and with the latest increase of PKR 5,000 (USD 30), the price has surged to around PKR 160,500-162,500 per tonne (USD 1000-1010). This is in addition to the earlier increase of PKR 5,000 per tonne in previous week. According to the brokerage HOUSE Taurus Securities, since November 2020, the rebar prices have gone up by 38%.

Association of Builders and Developers of Pakistan Chairman Mr Fayyaz Ilyas said “The government, understanding the importance of construction industry for economic growth, had earlier announced a special package for its revival. But when construction activities resumed, the cartel of steel manufacturers raised prices of steel bars, an important component for construction, many times, making construction more costlier. We demand that the federal government abolish regulatory duty and additional regulatory duty on the import of steel bars to stabilise their prices so that construction industry could be saved from collapse."

Pakistan Association of Large Steel Producers Secretary General Syed Mr Wajid Bukhari said that “The reason behind the price hike was a consistent increase in international prices of steel scrap. Currently, the prices of scrap in the international market are USD 550 per ton, whereas a few months ago, they were USD 500 and even lesser before that. This is how they impact local steel prices. We have to set local rates according to the international prices. Nevertheless, prices in Pakistan are 7% lower than those in Turkey and 4% less than those in China.”

Source - Strategic Research Institute
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Vallourec verhoogt jaardoelstellingen
Producent van stalen buizen wijst op betere ijzerertsprijzen.

(ABM FN-Dow Jones) Vallourec heeft zijn doelstellingen voor 2021 verhoogd. Dit maakte de Franse producent van stalen onderdelen als buizen en pijpleidingen voor met name de energiesector woensdag bekend.

Vallourec mikt nu voor dit jaar een operationeel resultaat (EBITDA) van 475 tot 525 miljoen euro met een negatieve kasstroom van 240 tot 160 miljoen euro.

Het Franse bedrijf sprak woensdag van gunstiger ijzerertsprijzen dan eerder verwacht, waardoor de bijdrage van zijn ijzerertsmijn in Brazilië naar verwachting hoger uitvalt.

Vallourec publiceert op 28 juli de kwartaalcijfers.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999
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3D Printed Steel Footbridge Unveiled in Amsterdam

A 3D printed steel pedestrian bridge has been unveiled in Amsterdam’s Red Light District. Crossing the Dutch capital’s Oudezijds Achterburgwal canal, the 12-metre-long structure has been four years in the making and was developed by engineers at Imperial College London in partnership with Dutch company MX3D. To get from the conceptual stage to the installed footbridge, the Steel Structures group at Imperial conducted the underpinning research and validation, including testing destructive forces on printed elements, advanced digital twin computer simulations, non-destructive real world testing on the footbridge and the development of an advanced sensor network to monitor the bridge’s behaviour over its life.

According to Imperial, the bridge will act as a ‘living laboratory’ in Amsterdam’s city centre. Using its vast network of installed sensors, the Steel Structures team will measure, monitor and analyse the performance of the novel structure as it handles pedestrian traffic. The data from the sensors will be put into a 'digital twin' of the bridge - a computerised version which will imitate the physical bridge with growing accuracy in real time as sensor data come in. The performance and behaviour of the physical bridge will be tested against the twin, which will help answer questions about the long-term behaviour of 3D-printed steel, as well as its use in real world settings and in future novel construction projects.

Data captured from the bridge will be made available to other researchers worldwide who are interested in contributing to the study.

Source - Strategic Research Institute
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POSCO Income Skyrockets as Ship Builders Pay High Steel Bill

South Korean steel maker POSCO has reported net profit of KWR 1.81 trillion (USD 1.6 billion) in April-June 2021 quarter on surge in steel prices, up 1710% YoY while operating profit rose by 1194% YoY to KWR 2.2 trillion over sales of KWR 18.29 trillion, up 33.3% YoY. POSCO has raised the prices of steel plates for ships to KWR 1.15 million per tonne (USD 1,000), up nearly two times from a year ago.

On the other hand, South Korea’s ship builders, on expected lines, have started declaring losses during April-June quarter of 2021 due to surge in steel plate prices, which takes up about 20% of the overall expense of the ship construction. Korea Shipbuilding & Offshore Engineering, which is a holding company of three leading shipbuilders Hyundai Heavy Industries, Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries, has reported net loss of KWR 722.1 billion (USD 627 million), compared with a net profit of KWR 400 million a year earlier over sales of KWR 3.79 trillion, down 3% YoY. KSOE said that the main reason for the huge net and operating losses was due to increased cost from a surge in prices of steel plates.

The leading local shipbuilders Korea Shipbuilding & Offshore Engineering Co, Daewoo Shipbuilding & Marine Engineering Co and Samsung Heavy Industries Co have bagged better-than-expected new orders in the January-June period. Korean shipbuilders led by Hyundai Heavy Industries Co won new orders worth USD 26.7 billion that amounted to 10.88 million compensated gross tonin the January-June 2021, up 724% as compared with a year ago. It marked the biggest amount of orders since 2008, when the shipbuilding industry boomed before the global financial crisis.

Source - Strategic Research Institute
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Acerinox & Técnicas Reunidas to Decarbonize Plant in Cádiz

Acerinox and Técnicas Reunidas have reached an agreement to work together in the study of the decarbonization process of the Acerinox Europa facilities, the plant that the former owns in Los Barrios in Cádiz, a comprehensive stainless steel production plant with more than 1,800 employees and a production capacity of more than one million tonnes per year. The project will identify the decarbonization technologies that are most suitable for each industrial sub-process, with special attention to electrification from renewable energies, green or blue hydrogen, bioenergies, or carbon capture and storage. The technologies finally selected will make complying with the operational requirements of the facilities compatible with the decarbonisation objectives, thus anticipating the new regulatory requirements on the matter that the European Union has just announced.

Based on this previous analysis, the roadmap will be designed, with medium and long-term objectives, to which the investment calendar that Acerinox will assume to achieve its decarbonization objectives will be adjusted. This calendar will be based on criteria of technological and business maturity of each technology, as well as on the optimization of Acerinox's investment.

Acerinox will contribute to this project its extensive know-how, facilities and commitment to innovation in the industry, as well as the opportunity for improvement as part of our culture.

In turn, Técnicas Reunidas will contribute to the project its extensive knowledge and experience in the different technologies associated with the energy transition and their integration into complex industrial processes. This project with Acerinox is one of the first steps of Técnicas Reunidas in its objective of diversifying the actions in the matter of decarbonisation and energy transition that it has been developing in recent years in the usual areas of its activity to extend them to other industries that are intensive in energy consumption.

Source - Strategic Research Institute
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SDI’s Sinton Galvanizing Line to Start in August

US steel maker Steel Dynamics Inc Chairman & Chief Executive Officer Mr Mark D Millett in quarterly financial report issued an update on the progress of the company’s new EAF flat roll mill in Sinton in Texas. He said “We and our customers continue to be extremely excited about our Sinton Texas EAF Flat Roll Steel Mill investment. It represents transformational competitively-advantaged strategic growth, with associated long-term value creation for all of our stakeholders. We are currently hot-commissioning the value-added paint line, and we expect the galvanizing line to be operational next month. The entire Sinton team is doing a tremendous job. Due to the excessive heavy rains in Texas, actual steel production will be delayed and is now planned to start mid fourth quarter 2021. Based on current plans, we believe shipments from Sinton could be in the range of 100,000 tons during the remainder of 2021 and between 2.2 million tons to 2.4 million tons in 2022.”

He added “"We also plan to invest approximately USD 450-500 million in four additional value-added flat roll steel coating lines comprised of two paint lines and two galvanizing lines with Galvalume coating capability, a set of which will be located in the Southern US to provide Sinton with the same diversification and higher-margin product capabilities as our two existing flat roll steel divisions. The other two lines will be located in the Midwest to support growing coated flat roll steel demand and to further increase the diversification and cash generation capacity of our existing Midwest operations. Based on current estimates, we believe these four lines will likely begin operating sometime in the second half of 2022.”

Source - Strategic Research Institute
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SSAB Report Historic Results for Apr-Jun 2021 Quarter

Swedish steel maker SSAB has reported the highest quarterly operating profit ever in Q2 of 2021, driven by strong demand, high steel prices and stable production. Its second quarter revenue was SEK 23,673 million (SEK 15,155 million in Q2 of 2020), EBITDA was SEK 4,899 million (705) ·& operating profit was SEK 4,083 million (-251).

SSAB Special Steels’ shipments remained high and rose to 388 (266) k tonnes. Operating profit increased to SEK 1,109 (485) million and the operating margin to 19% (12%). Growth in high-strength steel is a key element in our strategy for improved profitability. Our special steels are also important for the sustainability strategies of our customers to reduce their climate footprint, since our steels contribute to lighter weight and a longer useful life in many applications.

SSAB Europe’s operating profit rose to SEK 1,512 (-566) million and the operating margin increased to 15% (-9%), driven by a strong market, stable production and an improved product mix. SSAB America’s operating profit increased to SEK 1,151 (-10) million, driven by rising market prices for plate. The operating margin rose to 24% (0%).

SSAB has long been at the forefront of the green transition in the steel industry. It said “During Q2, we took further steps towards being first in the world to get fossil-free steel on the market. For the first time ever, iron ore has been directly reduced at a pilot scale using hydrogen made from fossil-free electricity. This ground breaking step took place at HYBRIT’s plant in Luleå. So far, over 100 tonnes of sponge iron of good quality have been produced. We have also initiated a strategic collaboration with Volvo Cars, which will be the first carmaker to secure SSAB steel made from hydrogen-reduced iron ore. The great interest shown by customer’s means that we are exploring the prerequisites to convert to fossil-free production in Luleå earlier than the original plan. We see positive effects from our leading position in sustainability and in June, we issued a five-year sustainability-linked (SLBP) bond of SEK 2bn. This gives us better conditions to finance activities and to reach our sustainability goals.”

Source - Strategic Research Institute
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