ArcelorMittal LU1598757687

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1. voda 30 juli 2021 08:14

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   Indian Metal Packaging Industry Seeks Relief from Steel Ministry
   
   India’s Metal Container Manufacturer’s Association said that INR 10,000 crore metal packaging industry of India, which is already facing dark times, is now in a major dilemma and stands directionless as the Ministry of Steel remains silent on Quality Control Order as the extension of the implementation of Quality Control Order till 17 July 2021 has ended. It said “Despite the repetitive representation and meetings with concerned ministries and departments. Even the new steel minister had given assurance to address the grievance. Yet there seems to be no relief for Industry which is largely operating under the MSME sector. Production is on hold, there is scarcity of raw material which is acting as a major hindrance to bridge the demand supply gap. Also as there is a shortage in domestic production therefore the industry cannot import. Steel and Steel Products QCO will restrict the supply of input materials to tin can making industry.”
   
   Also, there would be an exorbitant increase of prices of packaging material specially Pharma, food & beverages. Another setback would be shutting down small units and ultimately job losses.
   
   This industry which is largely dependent upon the import of tinplate/ tin free steel to meet demand supply gap from various countries is under tremendous pressure with the shortage of raw material and the prices have escalated more than 60% already with an indication that it is likely to increase further. Apart from prices another major issue of concern is availability of material as domestic is not geared up to meet domestic demand.
   
   Source - Strategic Research Institute
2. voda 30 juli 2021 08:15

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   Primetals to Extend Jindal Stainless Converter Meltshop at Jajpur
   
   Primetals Technologies has received an order from Indian steelmaker Jindal Stainless Ltd to extend the company’s meltshop in Jajpur, Odisha with a new production line. This will more than double JSL’s production capacity at the Jaipur production site to approximately 2.2 million tonnes per year. The order comprises a new AOD converter, a new ladle furnace, a new continuous casting machine and related dedusting facilities. The AOD production automation system delivers constant fast and low-cost production. Start-up is expected by the end of 2022.
   
   Primetals Technologies will supply the 150 tonne AOD plant with top blowing lance, an exchangeable converter with Vaicon Quick suspension, a tilting drive with damper system and a gas mixing station. Primetals Technologies Vaicon Damper leads to a more stable AOD production with reduced vibrations and extended tilting drive service life. The material handling system will be adapted. The basic automation system as well as the level 2 process optimization is also included. In 2019, Primetals Technologies already had installed successfully level 2 automation system for the existing AOD #1.
   
   The 150-tonne ladle furnace to be supplied by Primetals Technologies features a water-cooled roof and the well proven Melt Expert electrode control system. The scope of supply also includes the high-current system and the current conducting arms.
   
   The single-strand continuous slab caster is designed to produce slabs in a width range of 850 to 1,680 millimeters at thicknesses of 160 to 220 millimeters. The metallurgical length amounts to 25.65 meters. It will process ferritic and austenitic stainless 300 and stainless 400 series steels as well as Duplex stainless grades. The caster is equipped with latest state of the art technology, including LevCon mold level control, DynaFlex mold oscillation, Mold Expert breakout prevention and DynaPhase phase transformation modelling for maximum possible slab quality. Latest design DynaGap Soft Reduction 3D in all segments, Dynacs 3D spray cooling, and Quality Expert for on-line slab quality assessment are also provided.
   
   Jindal Stainless Ltd was founded in 1970 by Mr OP Jindal and is the largest stainless-steel producers in India. The company is one of the world's top ten stainless steel conglomerates. The Jindal Stainless Group has an actual annual crude steel capacity of 1.9 million tonnes.
   
   Source - Strategic Research Institute
3. voda 30 juli 2021 08:18

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   US Section 232 Steel Tariffs are Effective – Ms Gina Raimondo
   
   Bloomberg reported that US Commerce Secretary Ms Gina Raimondo said some tariffs on imported goods can be effective, citing the steel levies enacted by the Trump administration as helping to counter an oversupply of the product from China. She told “If China is not going to play by the rules, then there’s a place for tariffs, and they have been effective if you just look at how steel production has increased” in the US since the taxes were put in place.”
   
   Ms Raimondo added “To get a level playing field, we sometimes have to use tariffs. Sometimes tariffs can be very effective.”
   
   The Trump administration’s 2018 tariffs on aluminum and steel, which it justified on national-security grounds, remain in place.
   
   Source - Strategic Research Institute
4. voda 30 juli 2021 08:19

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   CSN Reports Surge in Net Profit in Q2 of 2021
   
   Brazilian steelmaker Companhia Siderurgica Nacional’s net profit in Q2 this year surged up 1,136% YoY to BRL 5.51 billion (USD1.1 billion) while net revenues in rose 147% YoY to BRL 15.39 billion (USD 2.9 billion), due to stronger iron ore and steel selling prices Adjusted EBITDA in Q2was BRL 8.17 billion (USD 1.58 billion), 324% YoY. Steel sales volumes in Q2 this year reached 1.28 million tonnes, up 28% YoY while iron ore sales volumes grew by 18% YoY to 9.11 million tonnes.
   
   CSN's Plate Production in Q2 of 2021 totaled 971,000 tonnes, 4% lower than in Q1 of 2021, due to preventive maintenance of the Blast Furnace #3, started in early June. The production of Flat Laminates, which is our main market, had an increase of 5% compared to the previous quarter. In the second quarter of 2021, CSN's Total Sales reached 1,281,000 tonnes, 27% higher than in the second quarter of 2020, mainly due to the continuous observed recovery in the domestic market. Compared to the previous quarter, there was a 2.7% drop in sales due to the lower volume of exported products and a small decrease in SWT sales. Domestic Sales totaled 896,000 tonnes of steel products, an amount only 2% lower than in Q1 of 2021. Of this total, 840,000 tonnes refer to flat steel and 56,000 tonnes to long steel. The foreign market sales Q2 of 2021 totaled 386,000 tonnes, practically stable compared to the same period of the previous year and 4.7% lower than in Q1, as a consequence of the lower exported volume (prioritization of the domestic market) and the reduction of SWT sales. In this period, 26,000 tonnes were directly exported, 360,000 tonnes were sold by subsidiaries abroad, 64,000 tonnes by LLC, 200,000 tonnes by SWT and 96,000 tonnes by Lusosider.
   
   CSN's iron ore production totaled 10.5 million tonnes in Q2 of 2021, a volume 25.4% higher than in the previous quarter, due to the seasonality of the drought period, allowing a better production yield. Additionally, there was also an increase in purchases of ore from third parties throughout Q2, taking advantage of the strong price conditions observed in the period. Sales volume reached 9.1 million tonnes,10.8% higher than the previous quarter due to the increased availability of ore and a heated transoceanic market.
   
   Source - Strategic Research Institute
5. voda 30 juli 2021 08:20

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   MMK Group Improves Production Efficiency in H1 of 2021
   
   At the end of the first half of 2021, the implementation of programs to improve production efficiency in the PJSC MMK Group brought the company more than 2.4 billion rubles of additional profit. Leadership in operational efficiency is one of the priority areas for the development of the MMK Group within the framework of the updated strategy for the period up to 2025. For several years, the company has been consistent and comprehensive work to reduce the consumption of material, fuel, energy and other types of resources and to search for reserves for further efficiency gains. Production efficiency improvement programs are implemented in all production and functional divisions of the company. Thanks to this, for the period from 2016 to 2020, additional profit was received in the amount of 27.1 billion rubles in relation to 2015, including due to low-cost and fast-payback projects (baby capex) more than 4.0 billion rubles.
   
   The search for reserves for improving efficiency continued in 2021. For 6 months of this year, an economic effect of more than 2.4 billion rubles was obtained. In particular, 1 billion rubles of additional profit was brought by measures to improve the efficiency of technological processes. The introduction of baby capex yielded an economic effect of 468 million rubles in the first half of the year. Energy saving projects brought the company 534 million rubles, and more than 357 million rubles - rationalization activities.
   
   From the point of view of the distribution of the saved resources, the greatest economic effect was provided by the saving of fuel and energy resources (1.134 billion rubles), raw materials and basic materials (528 million rubles), as well as auxiliary materials (367 million rubles). In the second half of 2021, it is planned to obtain an effect that is not inferior to the indicators of the first six months of this year.
   
   Source - Strategic Research Institute
6. voda 30 juli 2021 08:21

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   Vallourec Supplies Tubes for Offshore Carbon Storage Project
   
   Vallourec Umbilicals has been awarded a contract to supply 200 kilometers of tubes for umbilicals on a groundbreaking Norwegian project in the North Sea that will capture, transport and geologically store industrial CO2 emissions. The super-duplex tubes were manufactured at new plant in Vénarey-Les-Laumes in early 2021.
   
   They will be incorporated into the umbilicals that will remotely control the equipment on the seabed.
   
   Source - Strategic Research Institute
7. voda 30 juli 2021 08:22

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   OMK Launches Coil Slitting Line at Tatarstan Plant
   
   The United Metallurgical Company OMK’s Vyksa Metallurgical Plant’s pipe plant in Tatarstan has launched a new slitting line for coils with a capacity of more than 125 thousand tonnes per year. Investment in the project is over 200 million rubles. The new equipment is used for longitudinal dissolving of coils with a metal thickness of 4.5 to 8 mm, which were previously ordered from suppliers in finished form, for pipe production. Now the OMK plant in Almetyevsk can more quickly fulfill customer orders for pipes and profiles with a wall thickness of 4-8 mm, as well as offer a new type of product in the company's nomenclature commercial hot-rolled strip with a width of 400 to 1,850 mm.
   
   The South Korean production line includes a coil unwinding section with a double conical unwinder, which accepts coils with a wide range of inner diameters, a circular knife section with a quick stand change device, a tension and rewinding section for subsequent uniform, dense winding of cut metal strips.
   
   The new unit provides high quality cut edges at speeds of up to 120 m / min and maintaining the minimum tolerances, which is an important requirement for tube blanks. Modern equipment technologies make it possible to switch to other cutting sizes in the shortest possible time.
   
   Source - Strategic Research Institute
8. voda 30 juli 2021 08:23

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   Historic Bipartisan Infrastructure Deal Signed in US
   
   US President and the bipartisan group announced agreement on the details of investment in our infrastructure, which will be taken up in the Senate for consideration. In total, the deal includes USD 550 billion in new federal investment in America’s infrastructure. The Bipartisan Infrastructure Deal will grow the economy, enhance our competitiveness, create good jobs, and make our economy more sustainable, resilient, and just. American Iron and Steel Institute President & CEO Mr Kevin Dempsey said “AISI welcomes today’s agreement by President Biden and a bipartisan group of senators to implement a plan for infrastructure investment. AISI supports the framework that would make historic and much-needed investments in our nation’s infrastructure. This is a key development in the process to fix America’s deteriorating roads and bridges and to use American steel to do so. We also applaud the bill’s provisions to ensure that the steel products for water infrastructure projects be made in the US. This package ensures that American steel,which is the cleanest in the world, will be used to build back America. We urge the Congress to pass this critical legislation as soon as possible.”
   
   Roads, Bridges, and Major Projects - One in five miles, or 173,000 total miles, of highways and major roads and 45,000 bridges are in poor condition & bridges in poor condition. The Bipartisan Infrastructure Deal will invest USD 110 billion of new funds for roads, bridges, and major projects, and reauthorize the surface transportation program for the next five years building on bipartisan surface transportation reauthorization bills passed out of committee earlier this year. This investment will repair and rebuild roads
   
   Safety - America has one of the highest road fatality rates in the industrialized world. The deal invests USD 11 billion in transportation safety programs, including a new Safe Streets for All program to help states and localities reduce crashes and fatalities in their communities, especially for cyclists and pedestrians.
   
   Public Transit - America’s transit infrastructure is inadequate with a multibillion-dollar repair backlog, representing more than 24,000 buses, 5,000 rail cars, 200 stations, and thousands of miles of track, signals, and power systems in need of replacement. The deal invests USD 39 billion of new investment to modernize transit, and improve accessibility for the elderly and people with disabilities, in addition to continuing the existing transit programs for five years as part of surface transportation reauthorization.
   
   Passenger and Freight Rail - Unlike highways and transit, rail lacks a multi-year funding stream to address deferred maintenance, enhance existing corridors, and build new lines in high-potential locations. The deal positions Amtrak and rail to play a central role in our transportation and economic future. The deal invests USD 66 billion in rail to eliminate the Amtrak maintenance backlog, modernize the Northeast Corridor, and bring world-class rail service to areas outside the northeast and mid-Atlantic.
   
   EV Infrastructure - US market share of plug-in electric vehicle sales is only one-third the size of the Chinese EV market. The President believes that must change. The bill invests USD 7.5 billion to build out a national network of EV chargers.
   
   Electric Buses - American school buses play a critical role in expanding access to education, but they are also a significant source of pollution. The deal will deliver thousands of electric school buses nationwide, including in rural communities, helping school districts across the country buy clean, American-made, zero emission buses, and replace the yellow school bus fleet for America’s children. The deal invests USD 2.5 billion in zero emission buses, USD 2.5 billion in low emission buses, and USD 2.5 billion for ferries.
   
   Reconnecting Communities - Too often, past transportation investments divided communities, like the Claiborne Expressway in New Orleans or I-81 in Syracuse, or it left out the people most in need of affordable transportation options. In particular, significant portions of the interstate highway system were built through Black neighborhoods. The program will fund planning, design, demolition, and reconstruction of street grids, parks, or other infrastructure through $1 billion of dedicated funding.
   
   Airports, Ports, and Waterways - The United States built modern aviation, but airports lag far behind competitors. The bill invests USD 17 billion in port infrastructure and USD 25 billion in airports to address repair and maintenance backlogs, reduce congestion and emissions near ports and airports, and drive electrification and other low-carbon technologies.
   
   Resilience and Western Water Infrastructure - Millions of Americans feel the effects of climate change each year when their roads wash out, airport power goes down, or schools get flooded. The deal with an investment of over USD 50 billion includes funds to protect against droughts and floods, in addition to a major investment in weatherization.
   
   Clean Drinking Water - Currently, up to 10 million American households and 400,000 schools and child care centers lack safe drinking water. The deal’s USD 55 billion investment represents the largest investment in clean drinking water in American history, including dedicated funding to replace lead service lines and the dangerous chemical PFAS
   
   High-Speed Internet - Broadband internet is necessary for Americans to do their jobs, to participate equally in school learning, health care, and to stay connected. The deal’s USD 65 billion investment ensures every American has access to reliable high-speed internet with an historic investment in broadband infrastructure deployment, just as the federal government made a historic effort to provide electricity to every American nearly one hundred years ago.
   
   Environmental Remediation - In thousands of rural and urban communities around the country, hundreds of thousands of former industrial and energy sites are now idle. The deal invests USD 21 billion in environmental remediation, making the largest investment in addressing the legacy pollution that harms the public health of communities and neighborhoods in American history
   
   Power Infrastructure - As the recent Texas power outages demonstrated, aging electric grid needs urgent modernization. The deal’s USD 73 billion investment is the single largest investment in clean energy transmission in American history. It upgrades our power infrastructure, including by building thousands of miles of new, resilient transmission lines to facilitate the expansion of renewable energy.
   
   Source - Strategic Research Institute

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9. voda 30 juli 2021 08:45

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   Beursblik: Deutsche Bank verhoogt koersdoel ArcelorMittal
   Aandeel blijft op kooplijst.
   
   (ABM FN-Dow Jones) Deutsche Bank heeft vrijdag het koersdoel voor ArcelorMittal verhoogd van 36,00 naar 40,00 euro met een onveranderde koopaanbeveling.
   
   Volgens de Duitse bank kwam ArcelorMittal donderdag met sterke kwartaalcijfers. De EBITDA van 5,1 miljard dollar was hoger dan voorzien door de consensus. Deutsche had gerekend op 4,6 miljard dollar.
   
   De analisten van Deutsche verhogen hun taxaties voor 2021 tot en met 2023 met 7 tot 13 procent. Daarmee zit de bank circa 13 procent boven de analistencosnensus voor dit jaar.
   
   Ondanks deze verhogingen denkt Deutsche Bank dat er wellicht nog meer in het vat zit, nu de prijzen in Azië herstellen en er sprake is van krapte in Europa. "Dit kan wel eens op een perfect moment komen voor de onderhandelingen over de jaarcontracten in het vierde kwartaal", aldus de bank.
   
   Door: ABM Financial News.
   
   info@abmfn.nl
   
   Redactie: +31(0)20 26 28 999
10. voda 30 juli 2021 09:34

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    Pilbara Port Throughput in June Shrinks by 7% YoY
    
    Pilbara Ports Authority has delivered a total monthly throughput of 63.2 million tonnes for June 2021. This throughput was a decrease of seven per cent compared to the previous June.
    
    The Port of Port Hedland achieved a monthly throughput of 50.8 million tonnes, of which 50.4 million tonnes was iron ore exports. This was a three per cent decrease when compared to June 2020. Imports through the Port of Port Hedland totalled 173,000 tonnes, a decrease of 10 per cent from the same month in 2020.
    
    The Port of Dampier delivered a total throughput of 11.3 million tonnes t, a 23 per cent decrease from June 2020. Imports through the Port of Dampier totalled 77,000 tonnes, a decrease of 39 per cent from the same month in 2020.
    
    Source - Strategic Research Institute

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11. voda 30 juli 2021 09:50

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    Beursblik: cijfers Aperam indrukwekkend
    ING vol vertrouwen over 2021.
    
    (ABM FN-Dow Jones) Aperam heeft in het tweede kwartaal een indrukwekkende meevaller laten zien en ook een sterke outlook voor het derde kwartaal afgegeven. Dit stelde analist Stijn Demeester van ING vrijdag.
    
    Aperam presenteerde een aangepaste EBITDA van 262 miljoen euro, terwijl ING slechts rekende op 215 miljoen euro. Daarmee zat de bank wel iets onder de consensus van 223 miljoen euro.
    
    Demeester wees erop dat de volumes iets daalden, maar dat dit ruimschoots werd gecompenseerd door de hogere prijzen in combinatie met lagere kosten.
    
    Op basis van de toekomstgerichte uitspraken van Aperam meent Demeester dat de analistenconsensus voor 2021 van een EBITDA van 743 miljoen euro al voor 94 procent is gerealiseerd na drie kwartalen, blikte de analist vooruit. Dit bekent volgens Demeester dat de consensus met 15 tot 20 procent omhoog kan.
    
    En daarbovenop kondigde Aperam ook nog eens een aandeleninkoopprogramma aan van 100 miljoen euro. In combinatie met het dividend van 1,75 euro per aandeel brengt dit het rendement op 5,7 procent.
    
    Het aandeel Aperam steeg vrijdag 1,3 procent naar 53,70 euro. ING heeft een koopadvies met een koersdoel van 58,00 euro.
    
    Door: ABM Financial News.
    
    info@abmfn.nl
    
    Redactie: +31(0)20 26 28 999
12. voda 30 juli 2021 16:56

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    ArcelorMittal investeert in CO2-reductie-technologie
    Reductie uitstoot van 60 procent.
    
    (ABM FN-Dow Jones) ArcelorMittal en de Canadese regering investeren 1,765 miljard Canadese dollar in CO2-reductie-technologieën in de Dofasco-fabriek van de staalreus. Dit meldde ArcelorMittal vrijdag.
    
    De investering van omgerekend 1,37 miljard euro zal de jaarlijkse CO2-emissie in de fabriek in Hamilton in de provincie Ontario in de komende zeven jaar met circa 3 miljoen ton verminderen, ofwel circa 60 procent van de uitstoot.
    
    De regering van Canada investeert 400 miljoen Canadese dollar in het project. ArcelorMittal voert nog gesprekken met de provincie Ontario over eventuele financiële ondersteuning.
    
    Door: ABM Financial News.
    
    info@abmfn.nl
    
    Redactie: +31(0)20 26 28 999
13. voda 31 juli 2021 08:30

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    ArcelorMittal (MT) CEO Aditya Mittal on Q2 2021 Results - Earnings Call Transcript
    Jul. 30, 2021 3:05 AM ET
    
    ArcelorMittal (NYSE:MT) Q2 2021 Earnings Conference Call July 29, 2021 9:30 AM ET
    
    Company Participants
    
    Daniel Fairclough - IR
    
    Lakshmi Mittal - Executive Chairman
    
    Aditya Mittal - CEO
    
    Genuino Christino - EVP and CFO
    
    Simon Wandke - EVP and CEO, Mining
    
    Conference Call Participants
    
    Alain Gabriel - Morgan Stanley
    
    Jack O'Brien - Goldman Sachs
    
    Tom Zhang - Barclays
    
    Luke Nelson - JP Morgan
    
    Philip Gibbs - KeyBanc Capital Markets
    
    Patrick Mann - Bank of America Merrill Lynch
    
    Justin Cook - Exane
    
    Alan Spence - Jefferies
    
    Rochus Brauneiser - Kepler
    
    Bastian Synagowitz - Deutsche Bank
    
    Grant Sporre - Bloomberg
    
    Christian Georges - Societe Generale
    
    Carsten Riek - Credit Suisse
    
    Myles Allsop - UBS
    
    Philip Gibbs - KeyBanc Capital Markets
    
    Daniel Fairclough
    
    Good afternoon, and good morning everybody. This is Daniel Faircloth from the ArcelorMittal Investor Relations team. Thank you very much for joining today's call.
    
    The focus is to discuss the results of the first half 2021 and the strategic progress of the team at ArcelorMittal. This was covered in depth in a detailed presentation published alongside our results this morning.
    
    So as usual, the format of this call will be some opening remarks from Mr. Mittal and Aditya followed directly by a Q&A session. So as such, we should be able to complete this call in about 45 minutes to an hour.
    
    First, some housekeeping. [Operator Instructions]. I'd also like to remind you of the disclaimers in our presentation, and also the fact that this call is being recorded. And with that very brief opening, I'll hand over to Mr. Mittal.
    
    Lakshmi Mittal
    
    Thank you, Daniel. Good day, everyone. Thank you for joining today's call. I hope you're all keeping safe and well. I'm joined on this call by Aditya Mittal, our CEO; Genuino, CFO and our Head of Mining, Simon Wandke. Today's an important day.
    
    We have reported our best set of results since 2008, even keeping in mind the reduced scope, which is very satisfying to see. We have also announced a new target for the Group to reduce our carbon emissions by 25% by 2030. These targets are very important.
    
    Turning first to our financial performance, as I mentioned, this was the best quarter since 2008 by some margin. Performance improved in all the steel segments. Net income for the first half was $6.3 billion and includes a $1 billion contribution from JV's highlighting strong performance at ArcelorMittal Nippon Steel India, and ArcelorMittal Nippon Steel, Calvert.
    
    Now I will hand over the floor now to Aditya. Aditya?
    
    Aditya Mittal
    
    Great, thank you. And good day to everyone. I hope you're all keeping safe and well. Before I attend to our second announcement of the day, which is a carbon report let me first address our health and safety performance.
    
    In the first six months of the year, we have reinvigorated our Global Health and Safety Council, which provides leadership and guidance to all our segments. We have done this because although we compare favorably with the industry, we're not satisfied with our safety performance. All segments are adopting new initiatives and I'm hopeful we will see improvement in our safety performance as time progresses.
    
    Despite the COVID-related turbulence of the last 18 months, our actions to streamline and optimize our business and balance sheet put ArcelorMittal on the strongest footing it has been for many years and positions us well to address one of the biggest challenges the global economy has faced, decarbonization. As we talked about, at the time of our 2020 results in February, our ambition is to lead our industry's efforts to decarbonize. This, I hope is reflected in our second Group Climate Action Report, which we have published today.
    
    The report details the new Group wide target of a 25% reduction in carbon emissions by 2030. We have also increased our European target to 35%. These are ambitious targets and it will be a big challenge. But there's a lot of positive engagement across the company to show the world what steel is capable of. As you know, engineers love a good challenge. And there's arguably no greater than this.
    
    We estimate capital investments of $10 billion to achieve these targets. Given the technologies that will enable these reductions are not yet competitive, we're looking for equal support through targeted policy that takes into account both the initial capital spend and the higher operating costs during the transition period. We're continuing to base our transition plans on the two technology routes we've talked about previously i.e., Innovative DRI and Smart Carbon. But as it stands today, the 2030 target will lead more towards Innovative DRI, particularly in Europe, where national governments are prioritizing the availability of green hydrogen at competitive prices.
    
    This underpins our recent exceptional announcement that ArcelorMittal Sestao will become the world's first full scale zero carbon emission steel plant by 2025. There is a lot of information in the report about how ArcelorMittal will decarbonize, which I hope you will find useful. Steel is already the material of choice due to its lower carbon footprint and infinite recyclability. The world will continue to need ever increasing amounts of steel. That won't change. But the way steel is made will. We hope to be at the forefront of this change.
    
    So in summary, we continue to enjoy strong market conditions, and are doing all that we can to ensure that we take maximum benefit from them, while simultaneously transitioning for longer term success. Thank you. We're happy to take your questions.
    
    Question-and-Answer Session
    
    Voor meer, zie pdf.

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14. voda 31 juli 2021 11:59

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    Beursblik: Jefferies verhoogt koersdoel Aperam
    
    Door ABM Financial News op zaterdag 31 juli 2021
    Views: 523
    
    (ABM FN-Dow Jones) Jefferies heeft het koersdoel voor Aperam verhoogd van 47,00 naar 54,00 euro met een onveranderd Houden advies. Dit blijkt uit een rapport van analist Alan Spence.
    
    Kijkend naar de lange termijn, meent Spence dat het Leadership Journey programma van Aperam grote winst heeft opgeleverd voor het bedrijf. In combinatie met een marktherstel leidde dit in het tweede kwartaal tot recordresultaten. De aangepaste EBITDA steeg tot 262 miljoen euro, bijna een kwart meer dan de consensus had voorzien.
    
    En ook het derde kwartaal belooft goed te worden, voorziet Spence, die rekent op een verhoging van de consensus.
    
    De analist benadrukte de prestaties in Brazilië, waar de marges dubbel zo hoog zijn als in Europa.
    
    Het aandeel Aperam sloot vrijdag op 52,80 euro.
15. voda 2 augustus 2021 10:36

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    CISA Expects Wider Steel Production Cuts in China
    
    Bloomberg reported that world’s biggest steel producer and exporter China, which is revamping the industry to curb pollution, limit production and keep more supply at home, may face wider crude-steel output cuts as the nation moves to reduce emissions in key sectors. China Iron & Steel Association said on its Wechat channel on Sunday that “There will be more notable reductions in crude steel output along with government-led environmental checks, the, outlining the prospects for the steel market in the second half. Daily crude-steel output at major mills fell 5.6% in the first ten days of July from June, with most of the cuts taking place at plants in Shanxi, Hubei and Hebei provinces and mills including China Baowu Steel Group and HBIS Group. Steel exports may drop after the country imposed higher tariffs on overseas shipment. Domestic demand for steel will also slow in the second half after industries front loaded consumption.”
    
    China Iron & Steel Association added “Steel prices may stabilize at the current range if supply and demand is relatively balanced, though continued increases in iron ore and other raw material prices are expected to squeeze mills’ margins, it said. Mills should focus on reducing costs of raw materials to maintain operational stability.”
    
    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. 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.”
    
    Chinese government’s attempts to cap steel output at below last year’s record have had limited success so far, with production climbing 12% in the first half from a year earlier as surging steel prices lifted margins. Still, June output declined 5.6%.
    
    Source - Strategic Research Institute
    

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16. voda 2 augustus 2021 10:38

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    COVID Spread Hits Construction Steel Demand in Thailand
    
    Bangkok Post reported that the one-month shutdown of construction worker camps to contain the spread of Covid-19 is expected to decrease demand for steel in the construction sector in Thailand by 30-40% as Tata Steel Thailand has already seen sales drop by 20-30% during the shutdown. Tata Steel Thailand CEO Mr said Rajiv Mangal said "The pandemic is still a risk factor for businesses and the economy. We need to closely monitor how the outbreak will develop.”
    
    The escalating Covid-19 situation had earlier caused the government to impose a shutdown on places where infections were found, including camps of construction workers in Bangkok and neighbouring provinces as well as in the four southernmost provinces of Pattani, Yala, Songkhla and Narathiwat. The shutdown period for the camps lasted from June 28 until July 27.
    
    Source - Strategic Research Institute
17. voda 2 augustus 2021 10:39

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    Kutch Steel Users Seek Steel Export Ban from India
    
    ToI reported that the skyrocketing price of steel has badly dented the profit margins of companies belonging to the engineering and pipe manufacturing industries in Kutch. Federation of Kutch Industrial Association MD Mr Nimish Phadke said “In current financial year major steel suppliers have exported 50% of their production resulting in shortage for domestic consumers. We request the government to ban exports for six months for the survival of small domestic players. This is the steepest price since 2008.”
    
    of Rajkot engineering association former vice president Mr Brijesh Dudhagara added “We can't bear the high cost because currently we are not in a condition to recover proportionate price from our customers. I am paying INR 20 per kg higher for steel but I recover only INR 11 from my customer as he is not ready to pay more. Prices of some other raw materials have also gone up which is eating away our profit.”
    
    Source - Strategic Research Institute
18. voda 2 augustus 2021 10:39

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    India’s Forging Industry Raises Concern over High Steel Prices
    
    Can India reported that India’s Association of Indian Forging Industry has written to Prime Minister Mr Narendra Modi expressing their concern about the high steel prices by the Indian steel industry and sought his immediate intervention for withdrawal on the high prices in order to save the Indian forging and auto component industries from a major crisis. AIFI President Mr Vikas Bajaj said “After the impact of Covid-19 pandemic, the forging industry is gradually returning to normalcy, owing to increased domestic demand from the auto industry as well as a favorable export opportunity. Due to the Chinese factor, there are currently a large number of new inquiries from both North America and Europe. Unless and until the government intervenes to stop this disproportionate and unreasonable steel increase, the entire Indian automobile, auto component, and forging industry would become uncompetitive on a global stage.”
    
    Mr Bajaj said “Currently, the industry is still going through a difficult period and is unable to absorb losses. We have written to the Honorable Prime Minister requesting their intervention in this matter and demanding that the unjustified price rise imposed by the Indian steel industry be withdrawn immediately. We are hoping for positive responses and action from the government.”
    
    Based on the most recent biennial survey conducted by AIFI in March 2020, the Indian forging industry has an estimated turnover of INR 40,000 crores, of which exports contribute INR 14000 crore. For fiscal year 2021-22, forging production in India is expected to grow at a CAGR of more than 10 per cent between 2021 and 2024.
    
    Source - Strategic Research Institute
19. voda 2 augustus 2021 10:42

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    SAIL Opts for Media Post to Penetrate Rural Market of Rebar
    
    The Hindu reported that Steel Authority of India Limited has undertaken a brand awareness campaign for its newly launched SAIL SeQR TMT bars through the Media Post arm of the Department of Posts. This would help SAIL maintain its thrust on meeting the needs of people in remote corners. The per capita consumption of steel is only 19 kg in rural parts against India average of 74 kg. SAIL has taken up the campaign in the State to create awareness about its rural presence through the department, which has a wide network of post offices.
    
    SAIL has also launched a portal www.sailsteelonline.com for online sales of its launched SAIL SeQR TMT. The three pronged media campaign highlights
    
    PureSeQR
    
    Minimum levels of sulphur and phosphorous
    
    Uniform properties of strength, ductility, bendability throughout
    
    Retains properties in normal and extreme weather conditions
    
    Internally strong
    
    Corrosion and fire resistant
    
    Excellent bonding with cement
    
    DuctilcSeQR
    
    Ensures higher security
    
    Greater endurance during natural calamities
    
    Surpasses minimum specified level of BIS
    
    BendSeQR
    
    Resistant to breakage even when bent and re-bent
    
    Convenient to transport in small vehicles
    
    Easier for on-site usage
    
    Saves labour hours
    
    India Post offers a unique advertisement concept to help the Indian corporate and the Government organizations reach potential customers through Media Post. Media Post offers a range of advertising mediums such as Postal Stationery, Postal Premises etc.
    
    Source - Strategic Research Institute

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20. voda 2 augustus 2021 10:43

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    Welspun Corp to Create Pipe & Steel Verticals
    
    Welspun Corp Ltd has decided to create 2 independent verticals pipe & steel. Steel Vertical will comprise of company's DI business through its subsidiaries WML and WDI. Along with that, the TMT bars would become part of the Steel Vertical. The global pipe operations have now converged into a "Pipe Vertical" which would be headed by a Chief Executive Officer. This position will be accountable for end-to-end Marketing, Operations, Supply Chain, Finance, Commercial and HR functions of the pipe business across all geographies including USA and also represent the interests in Saudi JV through Ex-Com.
    
    The company has announced the elevation of Director and Business Unit Head (India, APAC and EMENA) Mr Godfrey John, as the Chief Executive Officer of Pipe Vertical) for our global pipe operations, with immediate effect.
    
    Mr Godfrey is a Science graduate with honors from Aligarh Muslim University and has a MBA degree in Marketing and Advertising from the same University. Godfrey has been associated with Welspun Corp for a period of over 21 years and has an overall industry experience of 33 plus years. He has handled several key leadership roles in the areas of Global Marketing, Supply Chain, and Operations. In his new role, Mr Godfrey will continue to report to Welspun Corp MD and CEO Mr Vipul Mathur.
    
    Source - Strategic Research Institute