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China Opens AD Duty Review on CRGO Imports from Japan, Korea & EU

Reuters repored that China's Ministry of Commerce has launched an anti-dumping investigation into grain oriented flat-rolled electrical steel imported from Japan, South Korea and the European Union following the expiry of tariffs in place for the last five years. Those tariffs will, however, be reinstated during the investigation which is due to be completed within a year. Japanese steelmakers including JFE Steel Corp, Nippon Steel & Sumitomo Metal will pay anti-dumping duty rates ranging from 39% to 45.7%. EU tariffs are 46.3% while for those for Korean companies are 37.3%.

The probe comes after China Baoshan Iron and Steel and unit of Beijing Shougang petitioned the ministry in May, arguing that an end to the tariffs could lead to further dumping and hurt the domestic steel sector.

Source - Strategic Research Institute
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Cleveland-Cliffs Reports Record Second-Quarter 2021 Results

US Steel maker & miner Cleveland-Cliffs Inc ha reported net income of USD 795 million in April-June 2021 over consolidated revenues of USD 5.0 billion. For the first six months of 2021, the Company recorded revenues of USD 9.1 billion and net income of USD 852 million. Cliffs Chairman, President & CEO Mr Lourenco Goncalves said “In the second quarter of 2021 we achieved all-time quarterly records in revenue, net income, and adjusted EBITDA. The numbers unequivocally confirm our efficiency in operating the new footprint, resulting from the integration of the two major steel companies acquired in 2020 as a single and indivisible mining and steel company. They also demonstrate our flawless execution in ramping up our state-of-the-art Direct Reduction plant in Toledo to the current level of production above nominal capacity. This quarter was also a clear illustration of our raw material cost and quality advantage over others in the industry, particularly the ones fully dependent on scarce prime scrap and dirty pig iron imported from polluting countries. The decision we made four years ago to invest USD 1 billion in our Direct Reduction plant has been proven to be not only right, but also perfectly timed. Our internal use of HBI has minimized our reliance on prime scrap in our BOFs and EAFs, as well as enhanced productivity and reduced emissions in our blast furnaces as demonstrated by our actual CO2 emissions figures.”

Q2 of 2021

Steel Sales - 4,205 net ton, up by 585% YoY

Revenues – USD 4,922 million, up by 381% YoY

Average price – USD 1,118 per ton, up by 7% YoY

H1 of 2021

Steel Sales - 8,349 net ton, up by 929% YoY

Revenues – USD 8,841 million, up by 550% YoY

Average price – USD 1,017 per ton, down by 1% YoY

Second-quarter 2021 steel product volume of 4.2 million net tons consisted of 33% hot-rolled, 30% coated, 17% cold-rolled, 6% plate, 4% stainless and electrical, and 10% other, including slabs and rail. Steelmaking revenues of USD 4.9 billion included USD 2.0 billion, or 40%, of sales to the distributors and converters market; USD 1.3 billion, or 27%, of sales to the infrastructure and manufacturing market; USD 1.1 billion, or 23%, of sales to the automotive market; and USD 532 million, or 10%, of sales to steel producers.

The Company expects third-quarter 2021 adjusted EBITDA of approximately USD 1.8 billion and free cash flow2 generation of $1.4 billion.

Source - Strategic Research Institute
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MMK Group Reports Financial Results for Q1 & H1 of 2021

Russian steel maker Magnitogorsk Iron and Steel Works revenue increased by 49.0% QoQ to USD 3,255 million due to an increase in sales volumes against the backdrop of an increase in global steel prices. EBITDA for the quarter nearly doubled quarter-on-quarter to USD 1,435 million, reflecting revenue growth on the back of favorable market dynamics. Net income was USD 1,031 million, more than doubling QoQ on the back of improved profitability amid favorable market conditions.

MMK Group's revenue increased by 82.7% year-on-year to USD 5,440 million, reflecting an increase in sales volumes due to the completion of modernization of old mill and an upward trend in market prices for steel products. EBITDA more than tripled compared to H1 of 2020 to $ 2,161 million, driven by revenue growth and a low base last year. EBITDA margin reached 39.7%, up 17.3 pp. Net income increased significantly compared to the first half of last year and amounted to USD 1,508 million, mainly reflecting the growth of business profitability amid recovery in global markets.

Source - Strategic Research Institute
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PT Krakatau Steel Reports 91% Surge in Revenue in H1 of 2021

Indonesian publicly listed state owned steel maker PT Krakatau Steel has reported a 90.9%YoY increase in revenue to USD 1.05 billion in the first half of this year following rising steel demand and prices. The higher revenue helped net profit increase to USD 32.47 million in the first half of 2021, up sevenfold from its low base of USD 4.51 million amid last year’s global economic rout.

Krakatau Steel recorded sales volume of Hot Rolled Coil and Cold Rolled Coil of 995,000 tonnes compared to last year's 692,000 tonnes. Export sales also increased 15 times to 162,243 tonnes from 10,817 tonnes.

Krakatau Steel president director Mr Silmy Karim said "We are optimistic that Krakatau Steel can maintain the positive trend until the end of the year.”

Source - Strategic Research Institute
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Torpedo Ladle Leak Causes Fire at Rail Track in SAIL BSL BF

PTI reported that a major fire that broke out at Steel Authority of Inida Limiteds Bokaro Steel Plant on Friday morning could be controlled without any casualty. The fire broke out at about 8.40 AM, due to a leakage in the Torpedo Ladle in Blast Furnace 2. Hot metal spilled over on the tracks and caught fire during the morning shift with about 100 contract and regular workers on duty. However, no personnel were affected in this incident. Fire tenders were immediately pressed into sendee and in about one and a half hour, the flames were completely doused.

A portion of the cables in the cable gallery were affected by the fire and normal operations resumed within two horn's of the incident.

Source - Strategic Research Institute
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Metalloinvest Improves OEMK Ball Mill Productivity with New Crane

Russian steel maker Metalloinvest’s Alexey Ugarov Oskol Electrometallurgical Plant has installed an electromagnetic overhead crane at the ball rolling facility of the. The unit will move up to 700 tonnes of primary billets per day for the production of steel grinding balls, which is 300 tonnes more compared to an ordinary crane’s capacity.

The crane with load capacity of 10 tonnes and height of 12.7 metres was manufactured in Naberezhnye Chelny. The unit is able not only to move loads, but also to automatically determine the weight of a package of primary billets. The equipment was purchased as part of Metalloinvest's investment programme to increase the production capacity of the ball rolling facility.

Alexey Ugarov OEMK Rolling Mill 1 Chief Specialist in Technical Issues of the Mr Dmitry Koshelev said “Compared to the prior use of non-magnetic cranes, the new equipment allows to speed up the process of metal delivery and grow production volumes. Moreover, there is a significant reduction of the amount of manual labour required during loading, and the process is controlled from the crane cabin which increases the workplace safety.”

Source - Strategic Research Institute
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NLMK Group Reports Financial Results or Q2 of 2021

Russian steel maker NLMK Group’s EBITDA in Q2 2021 grew by 76% QoQ o USD 2.1 billion while EBITDA margin grew by 9 pp QoQ to 50%. Revenue grew by 44% QoQ to USD 4.1 billion, up 90% YoY, with an increase in steel product prices and production and sales volumes. NLMK Group CFO Mr Shamil Kurmashov said “In Q2 2021, steel prices continued to grow across all key markets. In the US and the EU, prices hit new highs. Steel product consumption grew due to the realization of deferred demand and government support measures. Steel capacity utilization rates reached pre-crisis levels as facilities that were stopped during the first wave of the pandemic were relaunched. The outstripping growth in steel consumption relative to production led to a decrease in inventories to all-time lows, which brought about a further increase in prices.”

Revenue grew by 51% YoY to USD 7.0 billion amid higher average sales prices and an increase in the share of finished products in the sales portfolio. EBITDA grew by a factor of 2.7 YoY to USD 3.2 billion due to the widening of the steel products/raw materials price spreads and the implementation of Strategy 2022 projects. EBITDA margin was 46%, +21 p.p. YoY

Source - Strategic Research Institute
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Tata Steel Using Robotic in Wagon Tippler at Kalinganagar

APN News reported that Tata Steel Kalinganagar has introduced a new Robotic system for its Wagon Tippler operation. Tata Steel Limited CEO & MD Mr TV Narendran inaugurated the new system on 21st July 2021. Under the new system of operation, the Wagon couplers at outhaul, before getting coupled, will be inspected through and aligned by a Robotic system. This will eliminate the man machine interface completely during each cycle of tippling, ensuring safety while contributing to enhanced productivity.

The tippling operations at the Raw-material Handling System of the steel plant, involves critical activities like decoupling, coupling, rotation and CBC alignment of wagon through manual intervention at inhaul and outhaul side. During every cycle, after a Wagon tippling operation on Tippler table, the empty wagons are to be coupled with empty wagons in the outhaul area. For successful coupling of both Wagons, the couplers alignment is mandatory which is now being done manually by designated person under high risk potential. So, to eliminate the man-machine interface while handling Railway wagons after tippling operation during each cycle, a new system of “Robotics Operation” has been introduced for Wagon Tippler.

The new system has been installed in one of the Wagon Tipplers & will be horizontally deployed in others as well. This system is also supplemented by a uniquely designed Smart Fencing System with Automated Gate Locking Facility for restricting unauthorized entry during equipment operation.

Source - Strategic Research Institute
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SAIL BSL Purchases Wagons for 6 Rakes to Improve Logistics

The Pioneer reported that Steel Authority of India Limited’s Bokaro Steel Plant has tied up with Texmaco Rail & Engineering to acquire 6 rakes of Box N HL under General Purpose Wagon Investment Scheme approved by the Railways. The flag-off of the first rake procured by BSL under this agreement was done by BSL’s Director in Charge Mr Amarendu Prakash. The cost of this project of Bokaro Steel Plant is about INR 110 crore. These rakes will be operated on the route from Kiriburu-Meghataburu to Bokaro Steel Plant. BSL will also get 10% rebate from the Railways for 15 years on the transportation of iron ore from these rakes. Thus, BSL is expected to get a discount of about INr 400,000 per freight. Apart from this, due to delay in loading and unloading, there will also be savings in payment to railways as demurrage charges.

The color coding of these wagons has been separated from the wagons of the railways and will not be mixed with the wagons of the railways. This facility will also solve the problem of non-availability of rakes and ensure timely transportation of raw material from the mines to the plant.

Under this project 6 rakes are being provided to Bokaro Steel Plant, 4 rakes to Bhilai Steel Plant and 3 rakes to Durgapur Steel Plant in SAIL. BSL has got the distinction of getting the first rake among them.

Source - Strategic Research Institute
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India Approve PLI Scheme for Promoting Specialty Steel Production


Indian Government’s Union Cabinet has approved the Production Linked Incentive Scheme for specialty steel. The duration of the scheme will be five years from 2023-24 to 2027-28.As per government estimates “With a budgetary outlay of INR 6322 crores, the scheme is expected to bring in investment of approximately INR 40,000 crores and capacity addition of 25 million tonnes for speciality steel. Speciality steel production will become 42 million tonnes by the end of 2026-27.”

Specialty steel is value added steel wherein normal finished steel is worked upon by way of coating, plating, heat treatment, etc to convert it into high value added steel which can be used in various strategic applications like Defence, Space, Power, apart from automobile sector, specialized capital goods etc. The five categories of specialty steel which have been chosen in the PLI Scheme are:

Coated & Plated Steel Products

High Strength & Wear resistant Steel

Specialty Rails

Alloy Steel Products and Steel wires

Electrical Steel

Out of these product categories, it is expected that after completion of the Scheme India will start manufacturing products like API grade pipes, Head Hardened Rails, electrical steel needed in transformers and electrical appliances which are currently manufactured in very limited quantity or not manufactured at all.

There are 3 slabs of PLI incentives, the lowest being 4 % and highest being 12% which has been provided for electrical steel CRGO. The PLI Scheme for specialty Scheme will ensure that the basic steel used is ‘melted and poured ‘within the country which means that finished steel used for making specialty steel will be made in India only, thereby ensuring that scheme promotes end to end manufacturing within the country.

Speciality steel has been chosen as the target segment because out of the production of 102 million tonnes steel in India in 2020-21, only18 million tonnes value added steel & speciality steel was produced in the country. Apart from this out of 6.7 million tonnes of imports in the same year, approximately 4 million tonnes import was of specialty steel alone resulting in FOREX outgo of approximately INR 30,000 crores.

Source - Strategic Research Institute
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JFE Steel Signs Long-term Charter for 3 LNG Fueled Ships

JFE Steel Corporation has signed long-term deals with NYK Line, Kawasaki Kisen Kaisha and Mitsui OSK Lines to charter three 210,000-ton LNG-fueled bulk carriers for transporting iron ore and coal from overseas locations to JFE Steel’s steelworks in Japan. JFE Steel will become the first company in Japan to deploy LNG-fueled ships in the 210,000-ton class. The ships, which have been designed by Nihon Shipyard and will be built by Japan Marine United and Imabari Shipbuilding, are scheduled to be completed successively from the beginning of 2024. Each ship will have an overall length of less than 300m, beam of up to 50m, freeboard of up to 25m and draft of up to 18.4m. Maximum gross tonnage will be 110,800 tons and maximum deadweight capacity will be 210,000 tons (see illustration).

JFE Steel’s shift to LNG-powered transportation will support global efforts to create a more carbon-neutral world by reducing greenhouse gas emissions generated during international shipping. Using LNG instead of conventional heavy-oil fuels can reduce emissions of carbon dioxide by around 25-30%, sulfur oxides by roughly 100%, and nitrous oxides by around 85%.

JFE Steel also plans to consider using zero-emission ships powered by other eco-friendly fuels such as ammonia and carbon-recycling methane.

Outline of vessel

Length overall: approx. 299.9 meters

Breadth (moulded): approx. 50.00 meters

Draft (scantling): 18.4 meters

Deadweight Tonnage: approx. 210,000 tons

Contractor: Nihon Shipyard Co., Ltd.

Source - Strategic Research Institute
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Nippon Steel Engineering Bags Thai Natural Gas Contract

Nippon Steel Engineering Co. has won a large-scale, long-term contract for a new phase of an offshore natural gas development project from a Thai state-run company. It will construct about 40 wellhead platforms and lay around 280 kilometers of pipeline in the Gulf of Thailand over five years under the JPY 100 billion (USD 910 million) deal signed between its local unit, Thai Nippon Steel Engineering & Construction Corp., and PTT Exploration and Production Public Co.

The Thai subsidiary will carry out designing, procurement and construction of locally built wellhead platforms as well as reconstruction of existing platforms. The parent company will be engaged in ocean transport and offshore installation of platforms while designing, procuring and installing pipelines.

It will be the third phase of the bundled project in the gulf for Nippon Steel Engineering, which had undertaken the five-year scheme from 2011 and is engaged in the ongoing segment scheduled to be completed this year.

The Nippon Steel Engineering group has built and installed about 230 wellhead platforms and subsea pipelines spanning 2,300 km in the Gulf of Thailand in the series of projects it has been involved in since the 1970s.

Source - Strategic Research Institute
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Beursblik: winst ArcelorMittal nog verder omhoog
Staalprijzen stuwen winst.

(ABM FN-Dow Jones) ArcelorMittal heeft de winst in het tweede kwartaal vermoedelijk nog verder weten op te voeren. Dit verwachten analisten bijdroegen aan de consensus.

Analisten rekenen gemiddeld op een EBITDA in het tweede kwartaal van 4.668 miljoen dollar. Dat zou flink meer zijn dan de 3.242 miljoen dollar in het eerste kwartaal van dit jaar, of zelfs 707 miljoen dollar in het tweede kwartaal van 2020.

Deze enorme stijging schrijft analist Andrew Jones van UBS toe aan de recordprijzen die momenteel gevraagd worden voor staal. Ook Barclays wijst op de hoge prijzen en meent dat ArcelorMittal hier bovengemiddeld van kan profiteren. De Britse bank voorziet voor 2021 een EBITDA van 16,9 miljard dollar. In 2020 kwam ArcelorMittal niet verder dan 4,3 miljard dollar.

ArcelorMittal gaf bij de cijfers over het eerste kwartaal aan te verwachten dat de wereldwijde vraag naar staal dit jaar met 4,5 tot 5,5 procent zal groeien.

De staalreus opent donderdag voorbeurs de boeken. Maandag noteerde het aandeel ArcelorMittal bijna 3 procent hoger op 27,95 euro.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999
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Beursblik: sterke resultaatstijging bij Aperam verwacht
Dankzij gestegen prijzen.

(ABM FN-Dow Jones) Aperam heeft in het tweede kwartaal de EBITDA op kwartaalbasis fors zien stijgen. Dit bleek uit de consensus samengesteld door het bedrijf in roestvaststaal.

De 11 analisten die aan de consensus bijdroegen, rekenen gemiddeld op een aangepaste EBITDA van 219 miljoen euro in het tweede kwartaal. De taxaties van de analisten liggen tussen de 203 en 250 miljoen euro.

In het eerste kwartaal boekte Aperam nog 175 miljoen euro aan aangepaste EBITDA.

Bij de laatste kwartaalcijfers liet Aperam weten zelf voor het tweede kwartaal te rekenen op een aangepaste EBITDA die hogere uitvalt dan in de eerste drie maanden. Ook rekent de fabrikant op een kleine daling van de nettoschuld. Die lag in het eerste kwartaal op 56 miljoen euro.

Volgens analist Frank Claassen van Degroof Petercam profiteert Aperam van de stijgende staalprijzen. Claassen rekent op een aangepaste EBITDA van 223 miljoen euro voor het tweede kwartaal.

Naar de mening van Degroof Petercam is het Europese landschap voor roestvrij staal structureel verbeterd en in dat licht is de waardering van het aandeel aantrekkelijk. Degroof Petercam hanteert dan ook een koopadvies voor Aperam met een koersdoel van 60,00 euro.

Aperam komt woensdag voorbeurs met cijfers.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999
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EU's Carbon Border Adjustment Mechanism Violates WTO Principles

Reuters reported that China’s Ministry of Ecology and Environment spokesman Mr Liu Youbin said that the European Union's plan to impose the world's first carbon border tax will expand climate issues into trade in violation of international principles and hurt prospects for economic growth. He told "CBAM is essentially a unilateral measure to extend the climate change issue to the trade sector. It violates WTO principles and will seriously undermine mutual trust in the global community and the prospects for economic growth.”

He reiterated China's stance that each country's response to climate change should take into account its level of economic development and CO2 tariff would severely harm the willingness and capability of countries to tackle the issue.

The European Commission this month outlined plans to impose a Carbon Border Adjustment Mechanism or CO2 tariff, on polluting goods from 2026, forcing some companies importing into the European Union to pay carbon costs at the border on carbon-intensive products such as steel.

Source - Strategic Research Institute
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US Senators Introduce Bill to Support Clean Steel Technologies

US Representatives Mr Anthony Gonzalez (OH-16) and Mr Conor Lamb (PA-17) introduced last week the Steel Upgrading Partnerships and Emissions Reduction Act of 2021 (SUPER Act), bipartisan legislation that would support the development of clean steel breakthrough technologies, protect and grow good-paying jobs, and ensure the United States remains a global leader in steel production. Mr Gonzalez said “Steel is the backbone of Northeast Ohio manufacturing and critical to the success of our local economy. As the industry shifts towards emission-free production, its imperative the US take the lead on developing breakthrough technologies in order to stay competitive, create more high-paying jobs, and continue growing our economy.”

Mr Lamb said “America has the best steelmakers and the most innovative scientists, and we need both to develop the industry of the future. Manufacturing low-carbon steel is a critical piece of the puzzle to create American jobs and fight climate change. This bill is another bipartisan step, building on the success of the Energy Act of 2020, toward those goals.”

American Iron and Steel Institute President and Chief Executive Officer Mr Kevin M Dempsey said “The focus of the SUPER Act is the Department of Energy’s coordination of research and development efforts related to future breakthrough technologies that will facilitate further reductions in emissions by steel producers in the United States. AISI supports these goals. Focusing Federal efforts on research and development into breakthrough technologies, rather than funding investments into existing technologies that are already deployed by the private sector, is an important and appropriate role for government.”

Looking forward, consumers, investors, and policymakers will face increasing pressure to meet carbon reduction goals. Reducing carbon emissions will therefore become a critical component of maintaining international competitiveness and ensuring American jobs are protected. The SUPER Act would stimulate and focus more research and development on breakthrough technologies that will reduce the carbon footprint in steel production. These efforts would include applied research on innovative production methods, public-private partnerships to scale-up and commercialize breakthrough low emission technologies, and new tools for quantifying the benefits of advanced steel technologies.

Source - Strategic Research Institute
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Import Share in Indian Steel Consumption Declining Since 2019-20


27 Jul, 2021, 5:38 am
India’s Steel Minister Mr RCP Singh informed Lower House of Parliament that the share of domestic steel in the consumption of finished steel during the last three years has gone up while share of steel imports has come down.

2018-19 -98.71 million tonne consumption & 7.84 million tonne import ie 7.9%

2019-20 - 100.17 million tonne consumption & 6.77 million tonne import ie 6.8%

2020-21 - 94.89 million tonne consumption & 4.75 million tonne import ie 5.0%

Apr-Jun’21 - 24.85 million tonne consumption & 1.16 million tonne import ie 4.7%

The details of export and import of finished steel during last three years and current year indicate that India has been a net exporter of finished steel since 2019-20.

2018-19 - 7.84 million tonne import & 6.36 million tonne exports

2019-20 - 6.77 million tonne import & 8.36 million tonne exports

2020-21 - 4.75 million tonne import & 10.78 million tonne exports

Apr- Jun'21 - 1.16 million tonne import & 3.56 million tonne exports

Source - Strategic Research Institute
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Jindal Stainless Limited Announces Mega Expansion Plans

The Board of Directors of Jindal Stainless Limited have approved a brownfield expansion plan for JSL to leverage ready availability of world class infrastructure in Jajpur, such as land, roads, railways, utilities etc. The estimated capex of this brownfield expansion is INR 2,150 crore, which is less than one-third of greenfield capex cost for the corresponding enhancement. JSL Managing Director Mr Abhyuday Jindal said “Our plan for the near future is unleashed today; we , are going to double our melt capacity in the next 18 months. The expansion will strengthen our ability to serve domestic and international customers across different market segments. With the post pandemic recovery, rigorous internal efficiencies, ongoing merger, and slated expansion plan JSL is geared to maximise the value for all its stakeholders.''

The three-pronged expansion plan constitutes expansion of melting capacity, and commensurate strengthening of backward and forward linkages

Melting Capacity: Expansion of steel melting capacity from existing 1.10 million tonnes per annum to 2.10 million tonnes per annum at an estimated capex of INR 530 crore. Estimated completion by Q3 of FY23.

Downstream enhancement: Commissioning Combo Line for downstream expansion. 1.5x expansion of Hot Rolled Annealed Pickled capacity and 1.7x expansion of Cold Rolled Annealed Pickled capacity. HRAP and CRAP capacities to be enhanced from 0.8 million tonnes per annum and 0.45 million tonnes per annum to 1.25 million tonnes per annum and 0.75 million tonnes per annum respectively at an estimated capex of INR 1,250 crore. Estimated completion by Q4 of FY23.

Backward integration: 1.4x expansion of Ferro chrome capacity from 0.25 million tonnes per annum to 0.35 million tonnes per annum to scale up backward integration and cost efficiency at an estimated capex of INR 315 crore. Estimated completion by Q3 of FY24

Remaining capex will be expended on enhancing quality assurance for new generation grades in high-end segments, balancing of units, and other necessary improvement activities.

Source - Strategic Research Institute
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Metinvest to Acquire DMK’s Steel Production Complex

Metinvest Group’s Dnipro Coke has won an auction to acquire assets relating to the integral property complex of PJSC Dneprovsky Iron & Steel Integrated Works, DMK, in Kamianske in Ukraine for UAH 9.17 billion (USD 340 million). The auction was held on 26 July 2021 in the ProZorro system and Dnipro Coke was the only participant. Dnipro Coke won the tender by offering a price significantly higher than the starting one. The auction was held as part of DMK's bankruptcy proceedings. The integral property complex of DMK consists of the equipment necessary for the production of pig iron and steel goods. The acquisition also includes the right to use the land and to work under licenses and permits issued to DMK. About 9,000 plant employees will get a job at Dnipro Coke.

The purchase of DMK's production complex will allow Metinvest to expand its product mix by effectively replacing production of square billets, wire rod, rebar and shapes, which used to be produced at an asset located on non-controlled territory of Ukraine. The acquisition will also provide Promet Steel, the Group’s rolling mill in Bulgaria, with square billets for processing. DMK has also been one of the Group’s top purchasers of iron ore and coke in Ukraine, which gives Metinvest additional synergies throughout the entire production chain.

DMK was one of the largest steelmakers in Ukraine with a full-cycle metallurgical production facility. The capacities of DMK’s integral property complex include production of 3.9 million tonnes of crude steel a year. The bankruptcy of DMK had been initiated in May 2019 as a result of a suit brought by one of its creditors. The total amount of DMK’s debts to various companies recognised by the Commercial Court of Dnipropetrovsk region is UAH 87 billion (USD 3.2 billion) as at 26 July 2021. The sale of DMK's assets at an auction was a required condition under the bankruptcy proceedings, aimed at preventing the shutdown of production and the liquidation of the company.

Source - Strategic Research Institute
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US Total Steel Imports in H1 of 2021 Up 19% YoY

Based on preliminary Census Bureau data, the American Iron and Steel Institute reported that the US imported a total of 2,897,000 net tons of steel in June 2021, including 2,018,000 net tons of finished steel, up 14.8% and 8.7%, respectively vs May final data. Through the first six months of 2021, total and finished steel imports are 14,688,000 net tons and 9,995,000 net tons, up 18.5% and 15.6%, respectively, vs. the same period in 2020. Annualized total and finished steel imports in 2021 would be 29.4 net tons and 20.0 million net tons, up 33.4% and 23.9%, respectively, vs. 2020.

Finished steel import market share was an estimated 21% in June and is estimated at 19% over the first six months of 2021.

Key finished steel products with a significant increase in imports in June compared to May are hot rolled sheets (up 48%), heavy structural shapes (up 38%), oil country goods (up 35%), line pipe (up 30%), wire rods (up 21%), cold rolled sheets (up 19%), cut lengths plates (up 17%), plates in coils (up 13%), reinforcing bars (up 12%) and hot rolled bars (up 11%).

Products with a significant year-to-date (YTD) increase vs. the same period in 2020 were hot rolled sheets (up 63%), plates in coils (up 41%), cut lengths plates (up 35%), sheets and strip all other metallic coatings (up 31%), wire rods (up 26%), wire drawn (up 22%), tin plate (up 18%), hot rolled bars (up 13%) and sheets and strip galvanized hot dipped (up 12%).

Source - Strategic Research Institute
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