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Nieuws en info hier plaatsen (deel 4)

1. voda 27 augustus 2021 17:10

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   Deel 3:
   
   Opslag versus waterstof
   Op donderdag 9 september wordt de toekomst van Tata Steel besproken in Den Haag. Op de agenda staan onder meer de economische continuïteit, een duurzame toekomst en de zorg voor een goede leefomgeving - hoewel een RIVM-onderzoek naar de samenstelling van stofdeeltjes in de omgeving waarschijnlijk niet op tijd openbaar is. Waaruit bestaan de verduurzamingsplannen van Tata Steel (CO2-opslag) en FNV (direct met waterstof), waarnaar consultant Roland Berger op dit moment een haalbaarheidsstudie doet?
   
   CO2-opslag Tata Steel wil de uitstoot van CO2 in de atmosfeer verminderen door carbon capture storage (CCS), de opslag van CO2, in leeggetrokken gasvelden onder de Noordzee. Dit moet vanaf 2030 jaarlijks 5 megaton CO2 uitsparen. Het is stap één, want zodra groene waterstof rendabel is wil Tata alsnog overstappen op staalproductie met waterstof en elektrische ovens. De inschatting is dat dit pas na 2040 is. Het plan vraagt daarbij om een dubbele investering: eerst in opslag, vervolgens in de waterstoffabriek.
   
   Waterstof FNV Metaal vreest dat Nederland slechts eenmaal wil investeren en presenteerde in mei een plan dat direct inzet op waterstof. Het plan slaat de fase met CO2-opslag over en wil eerder stoppen met kolen. Ook voor de omwonenden zou het perspectief bieden: deze route zou eerdere sluiting betekenen van fabrieksdelen die overlast veroorzaken. Het plan krijgt bijval vanuit de milieubeweging, zelfs al gaat het voorlopig uit van (blauwe) waterstof gemaakt met aardgas, tot er genoeg groene waterstof beschikbaar is.
   
   Lees het volledige artikel: fd.nl/weekend/1409451/het-scenario-wa...
2. voda 27 augustus 2021 20:47

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   Vietnamese HRC market languishes
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   The Vietnamese hot rolled coil import market continues to languish amid a strict lockdown in southern Vietnam, Kallanish notes.
   
   Offer prices for Indian-origin 2mm and up thickness SAE 1006HRC have come down below $900/tonne cfr Vietnam. Offers for material from three mills are heard at $880-900/t cfr, Vietnamese trading sources report. Similar grade and thickness HRC from a Russian mill is heard offered at $860/t cfr. While a Vietnamese trader has heard that a reroller has ordered the Russian HRC, others have not.
   
   The market is very quiet. “Buyers are worried that the current lockdown [in Ho Chi Minh City] can be extended to the end of September,” a trader says. The city's ongoing lockdown is scheduled to last till 15 September. Other provinces in southern Vietnam will follow if the city is under lockdown, he adds. Russian and Indian SAE 1006 HRC offers were at $880/t cfr Vietnam and $900-910/t cfr Vietnam during the week of 21 August.
   
   Chinese HRC is out of the market this month mainly because of the rumored export tax, Vietnamese traders note. Some suppliers are inviting bids for Chinese origin SS400 grade HRC at $890-900/t cfr Vietnam. “But no buyers will consider if they have to cover the risk of the export tax.” A Chinese mill’s current offer for SS400 grade at $910/t cfr Vietnam may be deemed low compared to other Chinese mills' target export price but it is higher-priced than Indian or Hoa Phat material.
   
   At the current time, Vietnamese customers are shying away from SS400 grade HRC, a local trader says. Demand for SS400 HRC, which is used for structural applications, has shrunk, he says. This is because there are few new construction projects and a labour shortage amid the Covid situation.
   
   Kallanish reduced its SAE 2-2.7mm thickness HRC assessment to $870-880/t cfr Ho Chi Minh City, down $20 on-week.
   
   Anna Low Singapore
3. voda 27 augustus 2021 20:48

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   Chinese HRC climbs slowly on weak demand
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   As demand remained weak and the market no longer expects an imminent upturn in demand, Chinese hot rolled coil futures fluctuated last week, alongside stable prices in domestic spot markets, Kallanish notes.
   
   In Shanghai on Friday afternoon, 5.5x1,500mm Q235 HRC was traded at around CNY 5,700-5,720/tonne ($880-883/t), up CNY 35/t from the previous Friday. On the Shanghai Futures Exchange, January 2022 contract for HRC futures closed CNY 93/t higher than Thursday and CNY 37/t higher than the previous Friday at CNY 5,495/t.
   
   Because of the previous week's decline in iron production costs and the patience of end users waiting for low transaction prices, HRC encountered strong resistance to higher prices. The market’s attitude towards early-September has become more negative, and traders now expect a later recovery in demand.
   
   China-origin HRC offers continued to fall last week and spread across a wide range, driven by the decline in bids and offers in overseas markets. The most competitive SS400 HRC offers, which are due for September/October shipment, were confirmed by sources in Chinese steel mills at $930/t fob China, while some mills are still offering at over $1,000/t fob.
   
   Quotations for Chinese HRC were given by some traders at $910-930/t cfr in Vietnamese markets at the same time. Chinese steelmakers denied their authenticity, and considered it as “the attempt of merchants to test buyers,” a source in a steel mill told Kallanish.
   
   The Ministry of Finance said nothing about HRC’s rumoured export tax on Friday. Time is running out for a tax to be annouced in time for 1 September. If there is now news on Monday or Tuesday, traders increasingly expect rumours of the tax to fade away.
   
   Kallanish assessed 2mm SAE1006 HRC at $905-915/t fob China on 27 August, a drop of $20/t compared to the previous week.
   
   By Kallanish Team
4. voda 27 augustus 2021 20:48

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   CIS slab market remains in deadlock over price
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   Pressure on CIS producers to reduce slab prices in order to secure sales continued in the past week, but judging by the lack of sales, suppliers remained firm in their offers, Kallanish understands.
   
   Despite the market's expectations of CIS merchant slab suppliers' making sales to the Mediterranean buyers, offers were kept at a minimum of $800/tonne fob last week, with only one major supplier, Ukrainian, in the market. A major Russian supplier, whose converter repairs have effectively removed around 250,000t of slab from the market was not offering. Although it was heard to be have been shopping for slab for its European and US re-rolling operations, it appears it stopped offering in the merchant market in order to replace in-house volumes, traders say.
   
   As flat product prices continue to slip in both Turkey and Italy, buyers continue to reject high CIS slab offers, and succumbing to booking much lower priced and less reliable Indian material. A major Italian re-roller was heard to have booked at least one, and possibly two, lots of Indian slab, which was offered at around $670/t fob, netting forward to around $740-750/t cfr Italy, $100-$110/t below CIS current offers, participants tell Kallanish. There is an understanding also that at least one lot of Indian slab was booked by a Turkish mill, at approximately the same price level.
   
   Re-rollers' resistance to book CIS slab at $800/t fob is based on softening flat product price sentiment in both Europe and Turkey, and buyers' reluctance to maintain a re-rolling marging price difference in booking CIS HRC and slab, which stands at around $60/t. Turkish mills have been buying slab at $60-70/t below HRC import prices for considerable amount of time, but since prices have migrated to the higher paradigm, they are aiming for a much larger spread of around $150/t, one market participant says.
   
   Meanwhile, with Latin American demand temporarily off after a string of sales in August, and Asia still bidding around $750/t cfr, with added pressure of expensive freight, the standout continues.
   
   Katya Ourakova UK
5. voda 27 augustus 2021 20:49

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   Thai, Indonesian billet buyers stay on sidelines
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   ASEAN mills are actively making export offers within the region, Kallanish notes. However, apart from a large booking of Vietnamese billet to the Philippines, buyers in Thailand and Indonesia are staying on the sidelines.
   
   Most offers for October shipment of blast furnace 150mm 5sp billet from Indonesia, Vietnam and India are prevailing at $673-678/tonne cif Thailand, a Thai trader says. But buyers are bearish and not placing bids, he says.
   
   Suppliers are inviting Thai buyers to place bids at $670-675/t cif for blast furnace billet, another Thai trader notes. But buyers are not keen and he thinks this is because they are strapped for cash amid tightened Covid curbs imposed in Bangkok since June. Thai authorities announced on 27 August that there will be an easing of movement and gathering measures effective 1 September.
   
   Thai-origin 150mm 5sp billet is offered at $680/t cfr Jakarta. The steel market is not good now because of the lockdown which has lasted for 2.5 months, a Jakarta trader says. The lack of credit among contractors and the lack of new government projects are the causes for weak demand, a Jakarta mill manager says.
   
   Earlier in the week, Philippine rerollers booked a total 45,000t of mostly 5sp billet from Vietnam at $675-680/t cfr. Offers are still at the same level. “The market is very slow,” a Manila mill source says. An offer for Vietnamese 130mm 5sp induction furnace billet for September shipment is circulated on 27 August at $670/t cfr. “Any interested buyer will surely bid lower,” a Manila trader says. “The market is slow but not dead. At the end of the day, there are still customers out there who will deal if they feel that the price is right,” he says.
   
   While the current market is weak, it is also volatile, a Manila importer says. “The Chinese market changes direction every two days,” he notes on the past week. Kallanish assessed 5sp/ps or Q275 120/125/130mm square billet on Friday at $670-680/t cfr Manila, up $5 on-week.
   
   Anna Low Singapore
6. voda 27 augustus 2021 20:49

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   China designates iron ore a strategic resource
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   China says it aims to vigorously develop domestic mineral resources, especially domestic iron ore mining. Soaring iron ore prices in recent years have led to an increase in steel prices in China, and higher production costs have also impacted the profits of Chinese steel mills, Kallanish notes.
   
   Last week, the Ministry of Natural Resources of China pointed out that the "Outline of Action for Domestic Prospecting of Strategic Minerals (2021-2035)" that is being formulated will set iron ore as a strategic mineral, making it a major focus for prospecting in China.
   
   Relevant departments stated that they will revise and improve some mining policies and regulations to encourage capital to enter commercial iron ore exploration, thereby stimulating the growth of the local mining industry. At the same time, the government will promote advanced and applicable iron ore mining and dressing technologies, techniques, and equipment to revitalize the estimaated 4.07 billion tonnes of iron ore resources which are difficult to extract or beneficiate.
   
   According to data from the China Association of Metallurgical and Mining Enterprises, China's scrap ratio will reach 30% by 2025. Meanwhile domestic iron ore supply will account for 25% of total supply. Based on the estimation that crude steel output will be 1 billion tonnes in 2025 and 1.6t iron concentrate will produce 1t crude steel, then 300mt of scrap will be used for steel production, 220mt of crude steel will be produced by domestic iron ore, leaving 480mt of steel production that will come from imported iron ore, according to the Association. This would decrease the external dependence of China's iron ore industry to about 68% from 80% in 2020, the Association said.
   
   Although China is also actively expanding overseas mine development, at present, the progress of Chinese companies in the international mining of iron ore is slow. Chinese companies control most of the Simandou mine in Africa since last year, but the mine still has several years before shipments begin to ramp up. The mine's ore reserves are estimated to be more than 2.4 billion tonnes, with around 65% iron content.
   
   By Kallanish Team
7. voda 27 augustus 2021 20:50

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   Chinese scrap recovers on lower supply
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   Chinese scrap prices rose last week, although both supply and demand remained weak, Kallanish notes.
   
   On Friday, Kallanish assessed Chinese 6mm+ heavy scrap delivered to mills in eastern China's Yangtze River Delta at CNY 3,739/tonne ($578/t) including VAT. This is CNY 5/t higher since Thursday and CNY 22/t higher compared with the previous Friday.
   
   Data from information provider Fubao shows that 49 independent electric arc furnace mills in China saw a 63.6% operating rate and 77.3% utilisation rate last week. The operating rate was down by 1.2% but utilisation increased by 1% compared with the previous week.
   
   An electric arc furnace steel plant in Jiangsu stopped production last week, reducing local demand for scrap. However, the power curtailment situation has eased, so it is expected that the electric arc furnace operating rate and capacity utilization rate will continue to rise.
   
   Last week, the average daily volume of scrap delivered to 147 steel enterprises was 304,900 tonnes, a decrease of 10.4% on-week, Fubao data shows. The average daily scrap consumption of these mills last week was 342,000t, down by 2.95% on-week.
   
   In July this year, China's scrap imports amounted to 93,215 tonnes, an increase of 15% month-on-month and a surge of 3,404% year-on-year. This helped total scrap imports to reach 420,500t in the first seven months of this year. The import market remains quiet due to tight supply overseas and unattractive import prices. Kallanish assessed Chinese HRS 101 imports at $560/t cfr China, unchanged on-week.
   
   By Kallanish Team
8. voda 27 augustus 2021 20:50

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   Mechel's Q2 output, financials enjoy major gains
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   Russian miner and steelmaker Mechel clocked its "highest quarterly revenue in a decade" in the second quarter by ramping up sales of its products in response to favourable market conditions, ceo Oleg Korzhov says.
   
   Q2 saw continuing demand and rising prices for its key product - coking coal, on the back of lower mining volumes in China and reduced supply from Mongolia. Mechel expects the trend to continue at least until Q4. Mechel's Q2 coal mining volumes increased by 12% on-quarter to 2.96 million tonnes, although H1 mining volumes were down 44% to 5.6mt, after the sale of the Elga coal mining complex earlier this year.
   
   Prioritising coking coal mining over thermal coal has boosted washed coking coal production with merchant sales volumes up 121% on-quarter to 1.01mt, and a more than doubling of sales to southeast Asia and Russia. Merchant PCI sales increased by 27% on-quarter on higher shipments to Japan and South Korea to 322,000t, while merchant metallurgical coke shipments rose 53% on-quarter to 364,000t. Iron ore concentrate sales to third parties rose 27% on-quarter to 414,000t.
   
   Pig iron and steel dynamics have also improved, Kallanish notes. Sales of long steel products increased by 22% on-quarter in Q2 to 685,000t, while flat products sales rose 15% on-quarter to 121,000t, on the back of high demand and major repair completion.
   
   Subsequent financial gains in revenue amounted to 43% on-quarter reaching RUB 108.9 billion ($1.48 billion), with net profit more than tripling to RUB 23.9bn. Ebitda grew 85% on-quarter to RUB 33.7 billion, pushing profitability up 7 percentage point to 31%.
   
   Katya Ourakova UK
9. voda 27 augustus 2021 20:51

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   Iron ore gains further despite stock build
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   Seaborne iron ore prices continued their recovery last week despite rising port stocks. Price enjoyed their first full week increase since mid-July.
   
   The Kallanish KORE 62% Fe index increased $2/tonne on Friday and $13.15/t over the week to $153.88/dry metric tonne cfr Qingdao. The Kallanish KORE 65% Fe index gained $1.92/t on Friday and $12.22/t on-week to $177.70/dmt cfr, and the KORE 58% Fe index increased $2.24/t on Friday and $3.58/t on-week to $122.48/dmt cfr.
   
   On the Dalian Commodity Exchange, January 2022 settled up CNY 1/t at CNY 829.5/t ($128.05/t), while on the Singapore Exchange $4.36/t at $157.63/t. The same contract for 65% Fe and 58% Fe futures settled up $5.05/t at $177.64/t, and up $7.62/t at $126.17/t. In Tangshan, billet prices were unchanged at CNY 4,950/t.
   
   Across 35 ports, iron ore stocks increased another 1.12 million tonnes last week to 121.46mt, according to a count by SMM. Deliveries into port stocks have continued but are still being delayed due to the backlog of shipping at ports as Covid protection measures slow processing. Mills meanwhile have been restocking in limited amounts as the end of the month approaches and are wating to see how prices develop.
   
   Steel market sentiment has not been particularly strong. Traders are increasingly concerned that the seasonal recovery in demand after summer may be slower than expected. For iron ore markets however, there has been some respite as expectations for steel output levels have stabilised.
   
   Tomas Gutierrez UK
10. voda 30 augustus 2021 07:28

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    SAIL & Tata Steel Opt for Natural Resources Benefits in Jharkhand
    
    According to media reports several Indian steel & related sector companies signed MoU with Jharkhand government in 2 day investor meet at Delhi. The two-day Summit witnessed a commitment of nearly INR10,000 crore worth investments in Jharkhand in the coming months, leading to around 20,000 direct and around 1.5 lakh indirect employment. Wooing investors, Jharkhand Chief Minister Mr Hemant Soren also unveiled the Industrial and Investment Promotion Policy 2021, which was passed by the state cabinet couple of months back. He said “The state government wants to move forward with the cooperation of the investors. We are trying to leverage the infinite resources that nature has gifted to Jharkhand and walk the path of development.”
    
    State owned Steel Authority of India Ltd expressed commitment to invest INR 4,000 crore in the next three years in Jharkhand to augment capacity of its Gua mines. The investment will be to expand the capacity of SAIL's captive Gua mines to 10 million tonnes from the existing 4 million tonnes. As SAIL deepen the mines, the quality of ore becomes inferior, hence SAIL is going for a beneficiation technology there to upgrade ore quality from existing 61% to 63%% along with a 4 million tonne pallet plant in three years
    
    Tata Steel has expressed commitment to invest INR 3,000 crore in Jharkhand in the next three years to augment capacities of coal and iron ore mines and downstream value added steel portfolio
    
    The Dalmia group signed the MoU pledging investment worth INR 758 crore in the field of cement grinding, solar power generation and municipal waste management
    
    Adhunik power pledged investment worth INR1900 crore in developing an industrial park.
    
    Under the new policy, the state is offering subsidy up to INR 25 crore, besides up to 100%subsidy on state GST for up to 9 years. In the case of ultra-mega projects, the state GST subsidy will be 75% for up to 12 years on a case to case basis. Additional subsidy has been assured for companies that have 35 percent of their staff from schedule caste and schedule tribe communities.
    
    Source - Strategic Research Institute
11. voda 30 augustus 2021 07:29

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    Russia Launches Rebar Price Fixing Probe
    
    The Russian Federal Antimonopoly Service has made a decision to check the key local rebar suppliers regarding possible unfair price agreements, taking into account the significant increase in domestic prices seen this year. FAS have decided to check the activities of NLMK, Novostal-M, Tulachermet and Industrial Metallurgical Holding in order to see if there is in fact an agreement between the suppliers which is against the local antimonopoly law. FAS will handle the checking of the pricing processes at the mentioned mills and will study the possible reasons for unjustified price increases.
    
    According to the data collected by FAS, local rebar prices in Russia have increased by over 50% in 2021 as compared to last year's figures. The producers indicated the solid uptrend in the global market as the main reason for the situation. However, FAS stated that the local prices in Russia have been increasing even in periods when global prices were falling.
    
    Source - Strategic Research Institute
12. voda 30 augustus 2021 07:35

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    10 Km Human Chain Chants Visakhapatnam Steel Plant Not for Sale
    
    Employees of Visakhapatnam Steel Plant, their family members and displaced persons on Sunday organised over 10-km long human chain to protest against the Central government’s decision to privatise the steel plant. Nearly 10,000 took part in the programme from Aganampudi to Akkireddypalem in the steel plant area, raising slogan, Visakhapatnam Steel Plant Not for Sale, against privatisation to mark the completion of 200-days of protests.
    
    Ukku Parirakshana Committee leaders Ch Narasinga Rao, D Adinarayana, Mantri Rajasekhar, J Ayodhyaram, Gandham Venkatarao, former TDP MLA Palla Srinivasa Rao, Jana Sena Party leader Kona Tatarao, YSRCP leader Tippala Deven Reddy and others led the protests.
    
    The convener of the committee Mr J Ayodhya Ram said the stir against the Centre will continue with the same spirit until the decision against VSP's strategic sale is withdrawn and they will not allow those who are planning to sell and buy the plant to enter Visakhapatnam.
    
    Committee chairman Mr D Adinarayana warned that protests would be intensified in various forms in the coming days in Vizag city as well as in other parts of the state and in Delhi, too.
    
    Committee members Mr G Venkata Rao and Mr V Srinivas said private management representatives will not be allowed into the company at any cost as VSP is the pride of Vizag and Andhra Pradesh.
    
    Source - Strategic Research Institute
    
    
13. voda 30 augustus 2021 07:37

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    ArcelorMittal to Modernize Aviles Galvanizing Line for Magnelis
    
    Voor meer zie link.
    
    www.steelorbis.com/steel-news/latest-...
14. voda 30 augustus 2021 07:39

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    AHMSA Revokes Stake Sale Agreement with Villacero
    
    Mexican integrated steelmaker Altos Hornos de Mexico has revoked a sale agreement it had with a group of investors led by Villacero Group due to Alianza's incompliance of contract clause. Grupo Acerero del Norte, which owns AHMSA, notified Alianza of the company's decision on August 17. It said “In a notice signed by Alonso Ancira Elizondo, as the representative of GAN's controlling shareholders, the contract document had legal irregularities and lacked validity and, as such, was ineffective.”
    
    AMMI said in a statement that it will fully comply, in due time and form, with the purchase agreement signed with the Ancira family, in its capacity as shareholders of GAN.
    
    Alianza Minerometalurgica Internacional, a group of investors led by Villacero, was to buy 55% stake in Grupo Acerero del Norte, the holding company that controls Mexican steelmaker Altos Hornos de Mexico. Ahmsa and Villacero agreement, announced in June last year, is expected to add operational synergies and consolidate their capacity in steel production and processing.
    
    Source - Strategic Research Institute
    
    
15. voda 30 augustus 2021 07:40

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    Emirates Steel Selects Tata Consulting Engineers Flat Steel Plant
    
    Abu Dhabi headquartered integrated steel company Emirates Steel has awarded General Designer contract to Tata Consulting Engineers in Abu Dhabi, for its planned fully automated Hot Rolled Coils plant. The scope of the 10 month contract covers comprehensive evaluation and study of all phases of the project including logistics and environmental issues, technology, budgets and business cases, among others.
    
    The new plant, designed to have the lowest carbon footprint in the region, will boost Emirates Steel’s production capacity to more than 5 million tonnes per annum, the statement noted.
    
    Emirates Steel is the first steelmaker in the world to capture its CO2 emissions, with the possible exception of some North American manufacturers, according to the statement.
    
    Source - Strategic Research Institute
16. voda 30 augustus 2021 07:49

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    NMDC Assists NINL to Start Iron Ore Mining at Mithirda in Odisha
    
    NMDC has stepped in to provide technical and financial assistance to Neelachal Ispat Nigam Limited for resumption of their mining operations in Odisha. The operations of NINL iron ore mines at Mithirda mine block have resumed.
    
    To provide impetus to the supply of high grade iron ore in the state of Odisha, NMDC signed a MoU to extend assistance to NINL.
    
    NINL, a Joint Venture Company of MMTC, IPICOL, OMC, NMDC and others set up a 1.1 MTPA Integrated Steel Plant at Dubri, Jajpur in Odisha. The company acquired the mining lease for captive production of iron ore in January 2017. NINL received permission for merchant sale of iron ore for one million ton per year for two years to augment the iron ore production in the state and meet the expenses of the company.
    
    Source - Strategic Research Institute
17. voda 30 augustus 2021 07:50

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    Severstal Delivers Large-Diameter Pipes to Greece
    
    Russian steel giant Severstal has delivered large diameter pipes to Greece for the first time. Pipes with a diameter of 1,016 mm were produced at the Izhora Pipe Plant. Under the contract, LDP was supplied with an external three-layer polyethylene coating according to DIN 30670 and an internal coating according to AWWA C-210. At the request of the client, the Izhora Pipe Plant developed the technology for the first time and applied an internal coating in accordance with the requirements of the AWWA C-210 standard.
    
    The supply of large-diameter pipes to the Izhora Pipe Plant located at the production site in the Kolpinsky District of St. Petersburg was carried out to the client by road.
    
    Severstal already has experience in supplying large-diameter pipes to Europe, including Bulgaria, Poland, Slovakia, Holland and other countries. One of the key features of order fulfillment for European clients is the delivery of pipes to the doors of the final consumer's warehouse.
    
    Source - Strategic Research Institute
18. voda 30 augustus 2021 07:51

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    One Injured in Molten Steel Spill at Steel of West Virginia
    
    The Herald Dispatch reported that molten steel spilled at Steel of West Virginia plant in Huntington. Huntington firefighters were met with the smoke plume coming from a building and plant personnel who said hot molten steel had somehow gotten out of its container and led to at least one person being injured and taken to a hospital. Goal of the fire department was to cool everything down near the spill until the steel was no longer a threat. While assessing the building for hot spots, firefighters found fire still burning near the roof of the building. Fire had been extinguished and the fire department was no longer on scene. No further details were available.
    
    Steel of West Virginia Vice President & General Manager Mr Chuck Abbott, said “We are thankful for the Huntington Fire Department and paramedics for their quick and professional response. An investigation is underway and we will work closely with the appropriate authorities throughout this process. The company’s thoughts and prayers were with the injured man and his family as he begins recovery.”
    
    Steel of West Virginia Inc, a wholly owned subsidiary of Steel Dynamics Inc, was incorporated in 1982 after its beginnings as West Virginia Rail Company in 1907. Steel of West Virginia Inc is the parent company of SWVA Inc, SWVA Kentucky, LLC, Marshall Steel Inc and Steel Ventures Inc.
    
    Source - Strategic Research Institute
    
    
19. voda 30 augustus 2021 07:59

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    Mechel Reports EBITDA of USD 701 Million in H1 of 2021
    
    Leading Russian mining and steel maker Mechel has announced its financial results for the first half of the current year. In the January-June period this year, Mechel saw a net profit of RUB 31.80 billion (USD 429.48 million) compared to a net profit of RUB 10.19 billion in the same period of the previous year. This was the result of foreign exchange gains on foreign currency liabilities. In the given period, Mechel's sales revenues increased by 40 percent year on year to RUB 184.91 billion (USD 2.49 billion). The operating profit was RUB 43.35 billion (USD 585.42 million), compared to RUB 5.67 billion in the first half of the previous year. Meanwhile, the company’s EBITDA in the first half amounted to RUB 51.97 billion (USD 701.74 million), rising by 136 percent compared to the corresponding period of the previous year.
    
    Mechel General Director Oleg Korzhov said “In the second quarter, prices for our main product coking coal on CFR China and FOB Australia bases continued to grow steadily, positive dynamics of export quotations supported the domestic market as well. The main reason is the reduction in the production of coking coal in the PRC during this period. The growth of import quotations of coking coal in China was also influenced by the fact that the supply from Mongolia did not recover due to the worsening epidemiological situation in the country. We believe that demand from large metallurgical companies in China will continue to support prices for imported coal at a fairly high level throughout the Asian region. The correction is expected not earlier than the fourth quarter. We estimate the reporting period as a time of smooth recovery of production indicators. Coal production increased by 12% in relation to the previous quarter. We signed contracts for the supply of about 40 more units of mining transport equipment, which will be delivered to our enterprises in the second half of the year. In the current environment, the company's management decided to cut steam coal production in the second quarter, giving priority to coking coal amid favorable market conditions. This had a positive impact on the volumes of processing and sales of coking coal concentrate (+ 71% QoQ). Product sales both in the Asia-Pacific region and in the Russian market more than doubled.”
    
    Pulverized coal sales were up 27% driven by higher shipments to consumers in Japan and South Korea. Anthracite sales were broadly flat in the previous quarter.
    
    The share of exports in the structure of sales of coal products to third-party consumers in the second quarter amounted to 86%.
    
    Sales of iron ore concentrate (iron ore concentrate) increased by 27% due to an increase in stripping and iron ore production. This indicator was positively influenced by the commissioning of new mining and transport equipment.
    
    The dynamics of indicators of production of pig iron and steel smelting in the second quarter came to positive values. Taking into account the warehouse stocks prepared a quarter earlier, in anticipation of a seasonal recovery in demand, Mechel ensured a significant increase in sales of almost all types of products of the metallurgical division.
    
    Total sales of long products in the second quarter increased by 22%. Mechel has increased the capacity utilization of the universal rail and structural mill for the sale of high-value-added structural shapes. As a result, sales of URBS shaped rolled products grew by 41% quarter-on-quarter, which was largely due to the implementation of the strategy to expand sales of high-margin products through the Mechel-Service sales network. Valve sales in the second quarter increased by 24%, while sales of these products in export markets, primarily in the CIS countries, more than doubled. The sale of rails to Russian Railways in the reporting period was not carried out due to the absence of an application from the customer. The bulk of rail products in the second quarter were shipped to export destinations.
    
    Sales of flat products increased by 15% QoQ due to the expansion of production of these products at Chelyabinsk Metallurgical Plant following the completion of major repairs in the first quarter of 2021.
    
    Source - Strategic Research Institute
20. voda 30 augustus 2021 08:00

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    Mechanical Engineer Output in Europe to Recover by 10% in 2021
    
    According to the Economic and Steel Market Outlook 2021-2022/Q3 2021 Report from the Economic Committee of the European Steel Association EUROFER, EU mechanical engineering output has fallen by 12.1% in 2020, that is for the second consecutive year, further to minus 0.8% in 2019, and is set to rebound later by 10.6% in 2021 and +3.6% in 2022.
    
    Output in mechanical engineering had been falling since the second quarter of 2019, in connection with the continued downturn in manufacturing. In line with expectations, production activity in the EU mechanical engineering sector registered record recession in the second quarter of 2020, which was equally affected by the industrial lockdown in response to the COVID-19 outbreak as the lack of new orders took its toll on production activity. As a result, the downward trend in output observed in previous quarters was considerably exacerbated, with a fall by 22.2% year-on-year in the second quarter, during the most severe COVID-19-related lockdowns. Over the third quarter, further to the removal of lockdown measures and the restart in industrial production, output in the EU mechanical engineering industry in the third quarter of 2020 rebounded significantly quarter-on-quarter but still fell year-on-year by 9.7%, as a continuation of the existing negative trend and reflecting low activity levels. The rebound seen over the third quarter has led to sharp quarter-on-quarter improvement, but activity remains well below historical output levels seen before the downturn that started in the second quarter of 2019. In addition, the second wave of the pandemic has resulted in continued uncertainty and hampered the industrial recovery as well as the global manufacturing cycle. In the fourth quarter, this trend has continued, resulting in another fall year-on-year (-5.4%), albeit lower than in the third quarter, and the continued quarter-on-quarter rebounds have finally led to year-on-year growth in the first quarter of 2021 (+3.8%), for the first time since the second quarter of 2019. Recovery in orders and output is ongoing quarter but remains fragile and exposed to the general uncertainty of the economic recovery in the EU, as long as the COVID-19 threat is not over. Output growth is not set to gain speed before the second half of 2021, provided that the negative effects of the pandemic are diminished and no other external shock will materialise. Over the entire year 2020, mechanical engineering has experienced a drop in output (-12.1%), following that of 2019 (-0.8%).
    
    The pandemic took a heavy toll on the mechanical engineering sector in 2020. Due to the relatively strong reliance of the mechanical engineering sector in the EU on export markets and the investment climate, prospects for the post-pandemic scenario will depend on the intensity and stability of the global trade recovery, which appears to be stronger than expected as main export destination countries such as the US and China are experiencing a stronger than expected economic recovery and trade flows are also improving at a rather fast pace. However, due to the asymmetry in economic recoveries at the global level, with the EU lagging behind in comparison to other major world economic regions, the above scenario remains exposed to risks. The combined effect of persistently low business confidence, trade friction, weakened demand in key domestic markets in the EU, and policy uncertainty in general may continue to put the brake on investment decisions at least until the second half of 2021.
    
    By contrast, the manufacturing sector has also rebounded quickly in the EU and its recovery is expected to continue, albeit at historically low levels of output. During the 2019 downturn and throughout 2020, companies in most downstream sectors refrained from investment in new machinery and equipment and have instead favoured maintenance and the upgrading of existing machinery. Confidence in the sector has been improving constantly since the third quarter of 2020, together with general conditions of the manufacturing sector, which is likely to benefit new business investment, which will continue to be supported by interest rates at record lows. There are still, however, disruptive influences linked to the COVID-19 pandemic affecting the global supply chain (high transportation costs, high oil prices, shortages of components etc) which still prevent it from functioning normally, but this is expected to ease substantially and then disappear by the third quarter of 2021.
    
    Source - Strategic Research Institute