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Vietnam Steel Association Protest against 5% Export Tax on Billets

VN Express reported tha the Vietnam Steel Association has protested the latest proposed adjustments to tariff rates on steel products saying they will hurt domestic manufacturers. VSA argued that the prices were impacted by the global raw materials market rather than the current tariff policies or any trade remedies applied to steel products. VSA chairman Mr Nghiem Xuan Da noted that most of the input materials for steel production are imported. A price hike in these materials will immediately affect domestic manufacturers causing output prices to skyrocket, whereas the global steel prices have declined since late May.

Under the proposal made by the Ministry of Finance, export tariff for billets would rise from 0 to 5%, while the most favoured nation import rates for certain steel products would be reduced to 10% from 15 percent. The proposal is aimed at cutting the prices of construction steel, which have shot up 40-50% compared to early 2020.

Source - Strategic Research Institute
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Iranian PERED Technology Based Sponge Iron Plant Launched in China

Tehran Times reported that Iranian Mines and Mining Industries Development and Renovation Organization announced that Iran’s Mines and Metals Company has established China’s first gas-based sponge iron production unit using the Persian Direct Reduction, PERED, technology. The deal for the construction of the first gas-based sponge iron plant was concluded between China’s CSTM Company and MME Company from Iran as the license owner of PERED technology. With a capacity of 300,000 tonnes, the plant has been launched in China’s Taiyuan city.

PERED is a new technology for producing sponge iron using natural gas as fuel, which according to MME is a masterwork of the Iranian steel industry and is more efficient and effective in all respects such as the degree of metallization of the product, fuel consumption, operating costs and ease of operation compared to similar technologies. The main difference of the PERED technology with other technologies is the high and tangible quality of the sponge iron metallization, which has been reached above 95 percent on the initial day. In other technologies, however, it is very difficult to achieve a degree of metallization above 95 percent during the first months of a unit’s operation.

This technology is already being used in several production units across Iran including Shadegan Steel, Miyaneh Steel, Neyriz Steel, and Baft Steel companies.

As a subsidiary of IMIDRO, MME was registered in Germany in 1996.

Source - Strategic Research Institute
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Thai Millcon Steel to Ramp Up Special Automotive Steel Output

Bangkok Post reported that Thai Millcon Steel Public Company Limited and Japanese Kobe Steel’s Joint Venture Kobelco Millcon Steel Co plans to take advantage of the global economic recovery by increasing premium steel production to serve higher demand from the automotive industry. Kobelco Millcon Steel CEO Mr Shinichi Yasuki said “The automotive industry is growing thanks to the global economic recovery and this will increase demand for steel from car companies. Though the pandemic affected demand for steel in early 2020, we saw good signs in the domestic car industry, which has recovered slowly since September last year. Our factory in Rayong has a production capacity of 480,000 tonnes a year, half of which is speciality steel.”

His company plans to increase the production of premium steel, which is used to build car structures, to more than 50% of its capacity in 2-3 years to serve growing demand in the market.

Kobelco Millcon Steel Co expects total car production in Thailand to rise to 1.72 million units this year, up from an earlier forecast of 1.60 million units.

Kobelco Millcon Steel Co also supplies steel products, including high-quality wire rod steel, to the home appliance industry and high-tech industries in the Eastern Economic Corridor. The government wants factories nationwide to upgrade their steel production efficiency to meet international standards and increase the value of steel products as part of the Industry 4.0 scheme, which encourages manufacturers to apply digital technology and data analysis to manufacturing.

Source - Strategic Research Institute
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Jindal Stainless Reports Strong Results in Q1 of 2021-22

Indian stainless steel maker Jindal Stainless Limited has announced financial results for April-June 2021 quarter and said that its sales volume surged by 168% YoY to 237,852 tonnes. The company increased its share of export sales to cover the temporary challenges in domestic market during the Covid restrictions & localized lockdowns in Q1FY22. The domestic-export share of sales volumes during the quarter, on a YoY basis, was

Domestic - 67%

Export - 33%

Q1 Standalone performance:

Revenue at INR 3,841 crore, up by 204% YoY

EBITDA at INR 580 crore, up by 647% YoY

PAT recorded at INR 271 crore (vs loss of INR 87 crore in Q1FY21)

Q1 Consolidated performance:

Revenue stood at INR 4,033 crore, up by 193% YoY

EBITDA at INR 601 crore; up by 839% YoY

PAT at INR 306 crore

JSL said “Q1of FY22 witnessed further increase in raw material prices and freight cost globally. Ferro chrome and nickel prices continuously rose globally. Stainless steel demand in Q1FY22 was impacted by state-wise lockdowns due to second COVID wave. Demand in key segments like auto, pipe & tube segment, railways and special grades started to stabilize towards the end of the quarter. Outlook for stainless steel demand remains robust on the back of faster vaccination drive, improvement in availability of liquidity and overall economic recovery spurred by improved business sentiments and infrastructure stimulus by government.”

Source - Strategic Research Institute
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US Steel Capacity Utilization Inches up to 85% Mark in Week 29

American Iron and Steel Institute announced that n the week ending on July 24, 2021, domestic raw steel production was 1,868,000 net tons while the capability utilization rate was 84.6 percent. Production was 1,350,000 net tons in the week ending July 24, 2020 while the capability utilization then was 60.3 percent. The current week production represents a 38.4 percent increase from the same period in the previous year. Production for the week ending July 24, 2021 is up 0.5 percent from the previous week ending July 17, 2021 when production was 1,859,000 net tons and the rate of capability utilization was 84.1 percent.

Adjusted year-to-date production through July 24, 2021 was 52,655,000 net tons, at a capability utilization rate of 79.8 percent. That is up 18.4 percent from the 44,464,000 net tons during the same period last year, when the capability utilization rate was 66.7 percent.

Broken down by districts, here’s production for the week ending July 24, 2021 in thousands of net tons: North East: 149; Great Lakes: 642; Midwest: 200; Southern: 802 and Western: 75 for a total of 1868.

Source - Strategic Research Institute
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Tenova Hydrogen Ready SmartBurner for Heat Treatment Furnaces

Tenova announced the accomplishment of a key milestone towards a more sustainable combustion process: the development of the first burners for heat treatment furnaces using up to 100% hydrogen while keeping NOx emissions largely below the strictest limits. After the recent launch of the multi-megawatt TSX SmartBurner family for reheating furnaces fueled with a mixture of natural gas and hydrogen, up to 100%, the company is now ready to bring onto the market a self-recuperative burner for heat treatment furnaces. The new 200-kilowatt TRKSX, Tenova Self-ReKuperative Flameless, SmartBurner was successfully tested with a variable fuel mixture of natural gas and hydrogen to potentially eliminate CO2 emissions during the combustion process. The system works in flame and flameless mode with the aim to keep nitrogen dioxide emissions well below the strictest future limits.

The TRKSX SmartBurner i designed in consideration of the decarbonization goals of the steel industry, and will be first installed in a heat treatment furnace for pipes at the productive site of Tenaris in Dalmine in Italy.

Source - Strategic Research Institute
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JSPL to Launch Competitive Bidding for Jindal Power Divestment

Jindal Steel & Power Ltd said that it will launch an additional transparent competitive bidding process so as to realise the highest value possible from the proposed stake sale in its wholly owned subsidiary Jindal Power Ltd. It also said that the revised offer of INR 7,401 crore, earlier offer was INR 3015 crore, made by company owned by the promoter group of JSPL Worldone Pvt Ltd, would be used as the base offer in the competitive bidding. The company will advertise the transparent revised bidding process in the public domain and will present an equal opportunity for interested bidders from around the world to come forward and improve the present revised offer of INR 7,401 crore

According to the revised offer, Worldone will buy out all the equity shares and redeemable preference shares of JPL held by JSPL for a total of INR 7,401 crore of which Rs 3,015 crore will be payable by cash and the balance of INR 4,368 crore will be through the assumption and takeover of liabilities and obligations of JSPL. With the revised offer, the company said there would not be any continuation of financial linkage between JSPL and JPL after the disinvestment takes place.

It said the decision is based on the feedback it received from the JSPL investors.

Source - Strategic Research Institute
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Tata Steel BSL Appoints Mr Pratik Chatterjee as CFO

Tata Steel BSL board of directors have approved the appointment of Mr Pratik Chatterjee as the Chief Financial Officer and Key Managerial Personnel of the Company. Mr Chatterjee has succeeded from Mr Sanjib Nanda who has stepped down from the role to take up a role at the parent company, Tata Steel. Mr Chatterjee joined the Tata Steel Group in 2001 and has worked in various Tata Steel Group companies such as Tata Ryerson where he served as Chief Financial Officer and Tata Steel, Nippon Steel & Sumitomo Metal JV JCAPCPL where also he served as CFO before joining Tata Steel Limited in 2017.

Before Tata Steel Group, Mr Chatterjee worked in various positions in McDowell India Ltd, United Breweries Ltd. and Frigoglass Group of Greece. With a professional career spanning over 24 years, Mr Chatterjee has held various positions in accounting and financial management covering various roles including Plant Financial Controller, Financial Reporting, Corporate Finance and Treasury, Enterprise Risk Management, Business Strategy, Corporate Valuations etc.

Mr Chatterjee is a Chartered Accountant and Cost Accountant (Inter). He is a member of the Direct Tax and Indirect Tax Committee of the Bengal Chamber of Commerce, Kolkata and the Finance, Accounts and Banking Committee of CII, Eastern region.

Source - Strategic Research Institute
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OMK Belgorod to Supply Waste Heat Boilers to RUSAL

Russian pipe maker United Metallurgical Company OMK’s Belgorod plant Belenergomash-BZEM will manufacture two high-power waste heat boilers for the construction of the Taishet Anode Factory, a large-scale import substitution project for RUSAL. OMK has already shipped over 800 tons of boiler elements out of the planned 1,300 tonnes for this order; deliveries will continue until the end of 2021. The boilers will operate as part of a complex for combined heat power generation by utilizing waste gas heat from anode calcining furnaces. Having compact dimensions, waste heat boilers will be able to produce up to 113 tonnes of steam per hour each. This will allow generating up to 50 MW of electricity to meet the needs of the anode factory.

The Belgorod plant has already supplied boiler frames, superheater blocks, furnace screens, burners, etc. The order is shipped in transportable blocks, which will ensure ease of assembly in the future. Specialists of the OMK Belgorod plant will also provide installation supervision and commissioning services.

Source - Strategic Research Institute
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European Ombudsman Opens Steel Pipe Sector Case for EU's ETS

European Ombudsman has opened CASE 971/2021/SF on 21 July 2021 regarding European Commission’s assessment of steel pipe sector in the context of the European Commission’s revision of the State Aid Guidelines for the EU's Emissions Trading Scheme. The Ombudsman has no binding powers to compel compliance with their rulings, but the overall level of compliance is high. The Ombudsman primarily relies on the power of persuasion and publicity.

The European Ombudsman is the ombudsman for the European Union, based in the Václav Havel building in Strasbourg. The European Ombudsman was established by the Maastricht Treaty. The current Ombudsman Ms Emily O'Reilly of Ireland took office on 1 October 2013. Any EU citizen or entity may appeal the Ombudsman to investigate an EU institution on the grounds of maladministration: administrative irregularities, unfairness, discrimination, abuse of power, failure to reply, refusal of information or unnecessary delay. The Ombudsman can not investigate the European Court of Justice in its judicial capacity, the General Court, the Civil Service Tribunal, national and regional administrations (even where EU law is concerned), judiciaries, private individuals or corporations.

Source - Strategic Research Institute
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GMS Market Commentary on Ship Breaking in Week 29

World's leading cash buyer of ships for recycling GMS said that “As the Bangladeshi market surpasses the previously unreachable threshold of USD 600/Ton, the supply of tonnage appears to have dried up once again as the summer & monsoon holiday months continue at pace & Eid holidays conclude last week. Several deals were reportedly concluded into Chattogram this week, at levels well above the USD 600/LDT mark. However, competing markets have yet to follow suit, with both Pakistan and India stranded some ways behind the market leader. A lot of the recent bullish optimism can be attributed to the fact that domestic construction projects are going ahead at great pace in Bangladesh, and China is still importing most of their steel in order to satisfy domestic demand. On the far end, Turkey remained closed for the entire working week, as Turkish Recyclers celebrated Eid.”

GMS added “Vaccine roll-outs continue across the globe as humanity learns to cope with Covid-19 (in addition to the now increasingly dangerous Delta variant) and this weekend saw some of the highest air traffic numbers in the USA and UK, as attempts to get global travel back on its feet in the most vaccinated countries, finally steps up. Covid cases across the sub-continent show few signs of slowing. However, many are observing that the peaks have passed and a dire need for oxygen supplies to be re-directed to hospitals, is no longer as urgent a requirement as it recently was.”

GMS said “As such, sub-continent recycling markets remain positively poised going into the second half of the year. Notwithstanding, there is always a note of caution for a market that has doubled in offerings in the space of a year as what goes up, must eventually come down!”

GMS Pricing

India/Bangladesh/Pakistan – Week 29, Improving

Dry Bulk – USD 550-590 per LDT

Tankers - USD 560-600 per LDT

Containers - USD 570-610 per LDT

Source - Strategic Research Institute
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China Considering Imposing 10-25% Tax on Steel Exports

After 30% YoY surge in Chinese steel exports in H1 of 2021 to 37.4 million tonnes, the news of Chinese government imposing a tax on steel exports to cool export is in forefront recently and now South China Morning Post reported that China is considering imposing more tariffs on steel exports as it seeks to achieve twin goals of capping domestic production and taming the surging prices that have fanned concerns about inflation. According to people familiar with the matter “Potential rates being discussed range from 10 to 25% and products include hot rolled coil. Officials are seeking to implement the levies in the third quarter, though they are still subject to final approval.”

The move to concentrate on domestic supply comes after resurgent demand lifted prices to a record earlier this year. Some Chinese suppliers may raise export prices as a result, foreign buyers must either stump up or source competitively priced material elsewhere. But it might not be adequate to fill the potential deficit created by the expected crude steel output cuts in China in the second half, domestic prices will remain on the strong side for rest of the year. But, the move may tighten global markets that are seeing a steel boom as economies navigate their recovery from the pandemic. Potential imposition of export duty on steel in China will make exports lucrative for other sources.

China has already scrapped rebates on export taxes and raised tariffs on some products from the start of May to keep more supply at home and the new levies will target some products not covered by the earlier round.

China is undertaking an industrial overhaul that has seen it vow to reduce output in 2021 to curb carbon emissions from one of its dirtiest industries and has pledged to limit crude steel output in 2021 at no higher than the 1.065 billion tonnes in 2020. But China's crude steel output in H1 of 2021 grew 11.8% YoY to 563.3 million tonnes signalling that stricter measures are required

Amid escalating tensions with Australia, China has been progressively tightening the noose around iron ore for months now, with some success given recent fall in iron ore prices. Measures so far have included

Releasing strategic reserves

Punishing speculators and limiting futures bidding

Constraining steel output

Removing restrictions on scrap imports

Removing steel export rebates

Source - Strategic Research Institute
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Hyundai Steel Reports Strong Results for Q2 of 2021

South Korean steelmaker Hyundai Steel has posted a non consolidated net profit of KRW 275 billion for the second quarter this year, compared to a net profit of KRW 220 billion in the first quarter of 2021.

Revenue – KRW 4,866 billion, up by 14% QoQ & 32% YoY

Gross Profit – KRW 721 billion, up by 41% QoQ & 218% YoY

Net Profit – KRW 275 billion, up by 19% QoQ & 9067% YoY

Its net profit and sales revenues increased as global steel market recovered. In the second quarter this year, the company's finished steel production amounted to 4.66 million tonne, decreasing by 0.6% YoY, while its steel sales volume totalled 5.03 million tonne, up by 7.7 YoY, amid the recovery in the steel market.

During the quarter, Hyundai Steel started supplying cryogenic rebar, expanded sales of special steel plates for ships, develop new products to improve safety for car crash and seismic & fire in building

Supplied cryogenic rebar for LNG storage tank

Supplied cryogenic (9% Ni steel) heavy plate for LNG powered container ship

Expanded high strength steel (A/D/E 500) for LNG icebreaker

Developed 1.5G integral high tolerance hot stamping steel with Improved crash energy absorption

Anti-seismic high strength rebar (yield strength 17%)

Anti-seismic & fireproof H-beam for building( YS420Mpa)

Hyundai Steel expect economic growth be accelerated by fiscal support & vaccine distribution in advanced countries & f forecast global steel demand to be strong as downstream industries are in recovery phase.

Source - Strategic Research Institute
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Ludhiana Traders & Users Lament Severe Drop in Steel Demand

Times of India reported that whiel despite correction in steel prices, Ludhiana based micro, small and medium enterprises are purchasing only limited quantities as they are anticipating further fall, steel traders are unable to sell their stocks due to huge drop in demand. Ludhiana Beopar Mandal President Mr Maninder Pal Guliani told ToI "In the last two months, there has been no buyer in the market for steel due to low demand in the domestic sector. On the other hand, steel companies are not correcting the prices, though there has been a small drop. Present market rate of HR coil is INR 62,000 per tonne, which means there is a correction of around INR 7,000 per tonne in two months, but still the demand is low as the buyer is expecting more correction. The price correction in long products is around INR 8,000 per tonne, but that too has failed to bring an upward movement in demand.”

Another steel trader Mr Sachin Singla told ToI “Business has been badly impacted due to the sluggish demand. The biggest concern right now is the huge quantity of unsold stocks piling at our stores. There is no hope of any change in this situation and it is likely that we will suffer record losses.”

Echoing the sentiments of traders, Fasteners’ Suppliers Association Ludhiana President Mr Rajkumar Singla added “As of now we are buying steel raw material in very limited quantities as there is no demand of end products, like fasteners, cycle parts, auto parts, sewing machine parts, among others, due to lockdowns. Moreover, the rates of raw material are on a lifetime high and have witnessed an increase of almost 100% in some cases. The prices must come down to the earlier level.”

Source - Strategic Research Institute
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Pangang Group Facing Criminal Charges in DuPont Trade Secret Case

Reuters reported tha 9th US Circuit Court of Appeals Judge Daniel Collins, rejecting their argument that they were immune under the Foreign Sovereign Immunities Act, pronounced that Pangang Group Co Ltd and its three affiliates with connections to the Chinese government must face criminal claims over an alleged conspiracy to steal du Pont de Nemours & Co's trade secrets related to a white pigment used in a variety of products. Sidestepping the question of whether the Foreign Sovereign Immunities Act applies to criminal cases, Judge said the Pangang Group Co Ltd and its three affiliates failed to show they were Chinese government entities under the law, a baseline requirement for Foreign Sovereign Immunities Act immunity.

Pangang Group and its three affiliates were indicted in 2016 in the US District Court for the Northern District of California for violating the Economic Espionage Act by allegedly conspiring to steal DuPont trade secrets related to titanium dioxide, a white pigment used in products ranging from paints to plastic to paper, for the Chinese government. The court said no Chinese company had been able to develop a clean and efficient way to produce the pigment, and DuPont wouldn't sell or license its technology to Chinese companies.

The Pangang companies asked US District Judge Jeffrey White in Oakland to dismiss the case in 2019, arguing they were immune from the claims under the FSIA as instrumentalities of the Chinese government. The indictment said Pangang Group is a state-owned enterprise controlled by the Chinese government's State-owned Assets Supervision and Administration Commission of the State Council, and the other three companies are its subsidiaries. Judge White denied the motion, finding that even if the FSIA applied to criminal cases, Pangang wasn't immune because it had engaged in commercial activity in the US and waived its immunity by participating in the case.

The trade secrets relate to TiO2 technology from DuPont. DuPont had developed the technology and controlled a significant amount of the world’s TiO2 sales. The defendants are alleged to have obtained confidential trade secret information including photographs related to TiO2 plant technologies and facilities. Further, the defendants are alleged to have paid an Oakland company at least $27,000,000 between 2006 and 2011 for assistance with TiO2 technology, including obtaining DuPont trade secrets. The defendants also allegedly attempted, between 2008 and 2011, to commit economic espionage related to DuPont’s TiO2 processes.

As per Wikipedia, Panzhihua Iron and Steel (Group) Company Limited is the state-owned enterprise in Panzhihua in Sichuan in China. It is the largest steel maker in Western China. It is also the largest vanadium product manufacturer in China, and the second largest in the world. It has three subsidiaries listed on the Shenzhen Stock Exchange and they are Panzhihua New Steel and Vanadium, Changcheng Special Steel and Chongqing Titanium. In total, the firm has eight subsidiaries and associates, who are engaged in smelting, processing and distributing iron and steel as well as vanadium products.

Source - Strategic Research Institute
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BlueScope Announces Guidance for H2 of FY2021

Australian steel maker BlueScope expects preliminary unaudited underlying earnings before interest and tax for FY2021 to be approximately AUD 1.72 billion. The record second half contribution is expected to be approximately AUD 1.19 billion, compared to prior guidance of AUD 1.0 billion to AUD 1.08 billion. The results are subject to finalisation, net realisable value inventory provisioning, and external audit. BlueScope Managing Director and CEO Mr Mark Vassella said “This is an outstanding result, our best underlying EBIT performance since demerger in 2002. The business has gone from strength to strength in the second half of FY2021 and all operating segments have delivered significantly better results than FY2020. The results reflect the positive macroeconomic environment with strong demand for our products, and the quality of our diverse portfolio. While the COVID challenge remains, our performance is a great tribute to the professionalism and dedication of the entire BlueScope team who have operated with great resilience through the pandemic.”

2H FY2021 Business Update

Since the 27 April market update, the two most significant contributors to Group performance have been:

US Midwest benchmark HRC steel prices continued to increase, surpassing prior expectations and favourably impacted realised spreads at North Star and the North America coated business

Stronger demand and realised spreads in Australia and New Zealand

Looking across the Group's reporting segments during the June 2021 half year:

ASP delivered a substantially better preliminary result, up by around 60 per cent on 1H FY2021. The domestic construction, distribution and manufacturing segments' demand continued to strengthen, particularly for coated and painted products - leading to domestic mill sales volumes of over 1.3 million tonnes, the highest since 2008. Further, realised steel spreads were considerably stronger than 1H FY2021. The contribution from export coke continued strongly, exceeding 1H FY2021.

At North Star, realised spreads were significantly stronger, leading to a record preliminary 2H FY2021 underlying EBIT of around $600 million. Mill operation remained at 100 per cent of available capacity.

The Building Products Asia & North America segment delivered a preliminary result that was around 20 per cent higher than 1H FY2021, mainly due to expanding margins in the North America coated business driven by rapidly increasing steel prices. ASEAN performance was similar to 1H FY2021. China's performance was weaker on typical seasonality.

The Buildings North America segment delivered a lower result in 2H FY2021 - as foreshadowed because of no contribution in the half from the BlueScope Properties Group. Demand conditions in the engineered building solutions business remained robust, however margins remained under pressure due to rapidly escalating steel input costs.

New Zealand and Pacific Islands' performance was around 25 per cent higher than 1H FY2021 with strong domestic demand and higher realised steel pricing more than offsetting higher energy costs.

Source - Strategic Research Institute
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Primetals to Supply Wire Rod Mill Upstream Equipment to Kaptan

In completion to a recent order for a new wire rod outlet, Primetals Technologies has been contracted by Turkish Kaptan Demir Çelik to supply the upstream mill for the Marmara Ereglisi in Turkey production site. The mill will prepare the round feedstocks to be further rolled and finished in the wire rod outlet. It will have a yearly capacity of 650,000 tonnes. High value products will be processed such as carbon, SBQ and austenitic stainless steel grades, catering to the engineering and automotive industries in both domestic and export markets. The hot commissioning of the complete installation is expected in mid-2022.

The upstream mill will have a maximum rolling rate of 130 tonnes per hour, and will process billets with square dimensions of 130, 160 and 200 mm and length of 12 meters. The diameters of the prepared feedstocks will range from approximately 17 mm to 33 mm, as required by the roll pass design of the wire rod outlet. The layout, equipment and process of the new upstream mill will be optimized and compatible with an additional bar outlet to be futurely added, which will make the Kaptan's installation a modern combined mill of quality and austenitic stainless steel. Said future bar outlet will be capable to produce round bars with up to 130 mm diameter.

The main scope of Primetals Technologies’ mechanical supply includes the weighing, charging and discharging systems for billets, a high-pressure water descaler, twenty rolling stands of Red Ring Series 5 with scaled sizes and grouped in roughing, intermediate, pre-finishing and finishing trains. The last eight rolling stands will be served by quick change devices. Five hot shears for cropping and emergency will also be included, as well as all the other auxiliary components. The electrical supply of Primetals Technologies includes the main and auxiliary drives and motors, a new L1 automation system and HMI with the interface to the existing L2 automation, central and local operator stations. The project scope is rounded off by operating parts, guide equipment, offline devices for stand preparation, media systems, engineering services for other components, advisory services to erection and commissioning and personnel training services.

Kaptan Group has operations in iron and steel production, shipping, port operations, transportation, energy, mining, recycling, and shipbuilding. Kaptan Demir Çelik began production in its first rolling mill in 1964 and continues their presence at Marmara Ereglisi. Its products, which include steel billets, deformed and plain round reinforcing bars, and square, equal angles, flat, and profile bars, are now used in more than 100 countries worldwide.

Source - Strategic Research Institute
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Godawari Power & Ispat to Set Up Flat Steel Plant in Chhattisgarh

Raipur based Godawari Power and Ispat Limited’s is proposing to set up an integrated steel plant with a capacity of 1.5-2 million tonnes of flat products in Chhattisgarh under Production Linked Incentive Scheme. The estimated capital outlay shall be around INR 3000-4000 crores. The Company has initiated the process for land acquisition, obtaining of environmental clearances, etc for setting up of the said project and the final cost of project shall be finalized in due course.

The board also approved investment up-to INR 70.20 crores for acquisition of additional equity shares proposed to be offered by Hira Ferro Alloys Limited on preferential basis to Godawari Power and Ispat Limited, subject to approval of shareholders of Hira Ferro Alloys Limited. Hira Ferro Alloys Limited is an Associate Company of Godawari Power and Ispat Limited, in which Godawari Power and Ispat Limited is already holding 48.45% of the equity shares. Consequent upon aforesaid further investment, Hira Ferro Alloys Limited will become subsidiary of Godawari Power and Ispat Limited with 56.45% of enhanced share capital of HFAL. Hira Ferro Alloys Limited, engaged in the business of manufacturing of ferroalloys is setting up of a 70 MW Solar Power Plant in Rajnandgaon in Chhattisgarh for its captive use with a project cost envisaged at INR 230 Crores. The project will be financed partially through equity and partially through bank finance.

Source - Strategic Research Institute
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MMK Increases Shipment of Steel Products Containers in H1 of 2021

Russian steel maker Magnitogorsk Iron and Steel Works shipped over 575 thousand tonnes of metal products in specialized containers in the first half of 2021, which is more than double the figures for 2020. The main recipients of metal products in containers are companies in the automotive industry, pipe companies, equipment manufacturers, and regional storage sites. In particular, products in containers are delivered in small batches to the warehouses of OOO MMK Trading House using multimodal delivery schemes.

Among the main advantages of using containers for the transportation of metal products: simplicity, convenience and speed of unloading from specialized containers in comparison with open wagons, as well as the absence of the need to unload, store and load reusable fasteners (frames) used for delivery in open wagons, which reduces the costs of the consignee. In addition, the use of containers allows you to increase the level of service by organizing multimodal delivery schemes directly to the consignee's gate, thereby ensuring the delivery of small consignments to points where there are no own railways.

The development of the technology for the shipment of products in large-tonnage containers provides additional opportunities to optimize transport logistics, diversify delivery methods, and meet the client's requirements for covered transportation without the use of returnable metal fasteners.

Source - Strategic Research Institute
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US Lawmaker Seeks Probe in Safety at AK Steel Dearborn Plant

The Detroit News reported that US Rep Ms Debbie Dingell is calling on the Occupational Safety and Health Administration to conduct a full and thorough investigation into the safety standards at a Dearborn factory following the death of Mr Khaled Saleh Nasser of Dearborn on July 16 after falling from an elevated catwalk at the Cleveland-Cliffs Dearborn Works facility. Ms Dingell wrote in a letter to US Department of Labor’ s Occupational Safety and Health Authority’s acting assistant secretary Mr James Frederick “Nasser’s death has drawn serious questions about working conditions at the facility and the need to ensure that these workers are safe. As of last year the facility employed 1,325 people and Nasser’s death highlights credible fears and concerns that more must be done to protect these.”

She is requesting that OSHA investigate concerns from employees and union members, provide a detailed explanation of current safety measures and issues, and release any past complaints at the facility. She wrote “Companies should be held to the highest standard to guarantee that their employees receive proper protections when working in dangerous environments.”

Ms Dingell said she's also seeking data on the process and frequency with which OSHA reviews safety measures at these facilities.

Mr Nasser worked for AK Steel, a subsidiary of Cleveland-Cliffs that manufactures flat-rolled steel and iron ore pellets.

Source - Strategic Research Institute
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