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1. voda 12 november 2021 07:14

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   Interpipe Pipe Sales Surges by 17% MoM in 9 Months of 2021
   
   Strategic Research Institute
   Published on :
   12 Nov, 2021, 4:58 am
   
   Leading Ukranian producer of seamless pipes and railway products Interpipe announced that its pipe product sales grew up by 8.3% MoM to 60.9 KT. OCTG sales hit another peak in September, having surged by 20.3% MoM to 23 KT amid a growing OCTG consumption across all key markets driven by the rising number of active rigs, stable oil prices and positive outlook for global oil demand. Linepipe sales volume gained 4.1% MoM to 30.4 KT on the back of a robust demand globally. Mechanical pipe sale increased by 19.4% MoM to 2.9 KT due to higher shipments of cold-rolled pipes to Saudi Arabia while welded pipe sales declined by 15.8% MoM to 4.6 KT due to lower supplies of small diameter pipes to Europe after a surge last month. Sales volumes of railway products exhibited a 17.0% MoM growth in September 2021 at 17.1 KT fueled by a growth in sales in Ukraine and Europe.
   
   During 9 months of 2021 its pipe product sales grew up by 16.8% YoY to 419.6 KT. OCTG sales surged by 98.6% YoY to 127 KT. Linepipe sales volume gained 6.5% YoY to 235.5 KT. Mechanical pipe sale increased by 35.8% MoM to 17.9 KT while welded pipe sales declined by 35.7% YoY to 39.3 KT. Sales volumes of railway products reduced by 13.1% YoY in 9 months of 2021 to128.1 KT.
2. voda 12 november 2021 07:15

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   The Climate Group Welcomes Launch of First Movers Coalition
   
   Strategic Research Institute
   Published on :
   12 Nov, 2021, 5:01 am
   
   The Climate Group has welcomed the launch of the First Movers Coalition. The Climate Group has played a key role as part of the Design Committee for this initiative. The Climate Group Corporate Partnerships Director Mr Mike Peirce said “It’s welcome to see FMC bring a strong new voice to the push for decisive climate action. The Climate Group has been delighted to be part of the Design Committee for this initiative which complements our work in driving business demand for net zero solutions and the decarbonisation of high polluting industries. Our SteelZero initiative drives demand for net zero steel from across the entire value chain, with members from architects to designers to stockholders and contractors. Whilst EV100 commits members to zero emissions fleets by 2030, with an increasing focus on heavier modes of road transport as technologies develop and demand increases. By focusing on bringing breakthrough technologies and solutions to market by 2030, FMC are catalysing one critical part of the net zero transition for heavy industries.”
   
   US President Mr Joe Biden announced First Movers Coalition ahead of COP26 launch. The First Movers Coalition, announced at COP26, is a partnership between the World Economic Forum and US Special Presidential Envoy for Climate John Kerry. It’s a platform for companies to commit to buying zero-emission goods and services by 2030, to create demand for low-carbon technologies, make them cost-competitive and build the clean supply chains of the future. The aim is for these commitments to be “significant enough” that industrial decarbonization technologies are commercially widespread within the next nine years. In total, the new platform will operate across eight sectors, seven of which are responsible for more than a third of global carbon emissions, but do not have cost-competitive energy alternatives to fossil fuels. These are: steel, cement, aluminium, chemicals, shipping, aviation and trucking. The eighth sector is direct air capture, which could help to reduce levels of carbon dioxide in the atmosphere, but needs greater investment in technological innovation to make it commercially viable.
   
   Aviation
   
   Members commit to use sustainable aviation fuels and propulsion technologies for air travel by 2030. Airlines and airfare and air freight purchasers will replace at least 5% of their conventional jet fuel demand with sustainable aviation fuels and/or propulsion technologies that reduce life-cycle emissions reductions by 85% or more, compared with conventional jet fuel and without any offsets.
   
   Shipping
   
   Members commit to use zero-emission fuels in new and retrofitted zero emission vehicles by 2030. Carriers also set a target that at least 5% of their deep-sea shipping will be powered by zero-emission fuels by 2030, enabled by ships capable of using zero-emission fuels. Cargo owners set a target that at least 10% of the volume of their goods shipped internationally will be on ships using zero-emission fuels by 2030, on the way to 100% by 2040.
   
   Trucking
   
   Members commit to purchase or contract zero-emission medium and heavy-duty vehicles by 2030. These can include battery or fuel-cell electric vehicles and also incorporate renewable sources of electricity and hydrogen for charging. Trucking owners and operators also set a target that at least 30% of their heavy-duty and 100% of their medium-duty truck purchases will be zero-emission trucks by 2030. Retailers & manufacturers set a target that they will require all of their trucking service providers to meet the trucking owners and operators’ commitment by 2030.
   
   Steel
   
   Members commit to purchasing volumes of near-zero emissions steel by 2030. The deployment of breakthrough iron and steelmaking technology is needed to deliver a net-zero steel sector with minimal residual emissions. These technologies include hydrogen direct reduction, carbon capture use and storage, and electrolysis-based production processes. Steel purchasers set a target that at least 10% of their annual steel procurement volumes by 2030 meet or exceed the First Movers Coalition definition for ‘breakthrough steel’.
   
   These commitments were made in consultation with technical experts from public, private and civil sectors and in partnership with these existing initiatives: Getting to Zero Coalition (shipping); Climate Group (steel); Clean Skies for Tomorrow (aviation); Road Freight Zero (trucking).
   
   Half the low-carbon technologies the world needs to reach net zero by 2050 and limit warming to 1.5 degrees are still in the early development or prototype stages. Decarbonization technologies needed to reach net zero by 2050 could be widely available in the next decade, according to a new coalition of companies aiming to drive demand.

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3. voda 12 november 2021 07:17

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   Russel Metals Announces 2021 Third Quarter Results
   
   Strategic Research Institute
   Published on :
   12 Nov, 2021, 5:03 am
   
   Canadian steel distributor Russel Metals Inc announced that revenues of CAD 1.1 billion in July-September 2021 quarter were higher than the CAD 615 million in third quarters of 2020 and CAD 1.1 billion in the 2021 second quarter. Gross margin percentage improved to 29.8% compared to 19.0% in the same quarter of 2020 and was down slightly from the 30.7% in the 2021 second quarter. EBITDA was CAD 196 million for the quarter compared to CAD 47 million in the same quarter of 2020 and CAD 178 million for the 2021 second quarter.
   
   Each of our business segments continued to generate strong operating profit as compared to the same quarter of 2020 and the 2021 second quarter. In the 2021 third quarter, metals service centers segment reported near record operating profits and returns, as this segment continued to maximize margin opportunities from the strong market conditions and realized the benefits from our value-added processing initiatives. Steel distributors segment continued to benefit from strong demand, higher steel prices and low inventories in the supply chain and reported growth in both revenues and operating profit. In our energy products segment, the continued recovery of oil and natural gas prices led to improved revenues from our field stores and supported the profitable liquidation of the US OCTG & line pipe inventory as we exit this segment of the industry.
   
   Steel prices continued to rise in the 2021 third quarter. Metals service centers experienced an increase in selling price per ton of 87% compared to the 2020 third quarter and 19% compared to the 2021 second quarter. Tons shipped in metals service centers increased 1% from the same period in 2020 but decreased by 12% from the 2021 second quarter, due to the seasonally slow summer months and the Quebec construction holiday. Steel distributors experienced an increase in demand and selling price per ton due to continued low inventory levels in the supply chain and product shortages. Demand in the energy products segment continues to recover.
   
   Outlook – “Steel availability has improved modestly and inventory in the supply chain has increased early in the fourth quarter, as steel mills return from their maintenance outage period. We expect this modest improvement to continue for the balance of the quarter. Demand is expected to remain strong for the remainder of 2021 and thereby result in a favourable supply and demand balance. We expect margins to retreat modestly in the fourth quarter of 2021 as a result of higher average cost of inventories. The energy sector activity is expected to continue to improve as a result of the recovery in oil and natural gas prices.”
4. voda 12 november 2021 07:17

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   • voda

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   Mr Alexey Kushnarev Appointed as First Deputy CEO of Metalloinvest
   
   Strategic Research Institute
   Published on :
   12 Nov, 2021, 5:05 am
   
   Leading Russian iron ore & HBI and steel producer Metalloinvest announced the appointment of Mr Alexey Kushnarev as First Deputy CEO Production Director. In his new position, Mr Kushnarev will be responsible for developing and implementing the strategy and production plans of Metalloinvest's enterprises, ensuring product quality and continuous production, improving technologies and processes, implementing major production projects.
   
   Mr Kushnarev was previously the Director of the Steel Division at Metalloinvest and Managing Director of Alexey Ugarov OEMK.
   
   Mr Kushnarev graduated from the Nosov Magnitogorsk Institute of Mining and Metallurgy with a degree in Metal Forming in 1982. In 1995, he completed the Manager in Market Conditions programme at the Academy of National Economy under the Government of the Russian Federation.
   
   From 1982 to 2002, he worked at the Magnitogorsk Iron and Steel Works, where he rose from Rolling Mill Operator to Chief Rolling Mill Manager of the enterprise. From 2002 to 2020, he was Chief Rolling Mill Manager, Chief Engineer and Managing Director of Evraz Nizhny Tagil Iron and Steel Works and Evraz Kachkanar GOK.
   
   Mr Kirill Chernov, Chief Engineer of OEMK, has been appointed as acting Managing Director of OEMK.
5. voda 12 november 2021 07:18

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   • voda

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   Klöckner & Co Increases Income to Record Level in Q3 of 2021
   
   Strategic Research Institute
   Published on :
   12 Nov, 2021, 5:07 am
   
   Klöckner & Co has continued its strong year, with a third quarter in which it once again delivered the highest ever quarterly operating income since the IPO in 2006. Considerably higher prices again led to very significant sales growth of 59.3% to EUR 2 billion in the third quarter of 2021 (Q3 2020: EUR 1.3 billion). Against the backdrop of a substantially improved market environment, operating income EBITDA before material special effects increased from EUR 40 million in the prior-year period to EUR 277 million. This puts operating income at the upper end of the EUR 260 million to EUR 280 million revised guidance range. Contributing factors to the positive performance include resolute application of the margin-over-volume strategy and positive effects of the restructuring measures under the Surtsey Project. Net income was likewise extremely strong at EUR 189 million (Q3 2020: net loss of EUR 5 million).
   
   Klöckner & Co SE CEO Mr Guido Kerkhoff said “The fact that we are once again able to present record earnings shows that we have set the right strategic course. Thanks to Surtsey Project, we have a strong operational base to successfully implement initial measures under our Klöckner & Co 2025: Leveraging Strengths strategy. We continue to work systematically to accommodate customer and societal needs. As a case in point, with our recent partnership with H2 Green Steel, we have secured early access to “green steel” for our customers and are developing into a pioneer of the sustainable steel industry.”
   
   As a key element of the Group strategy, Klöckner & Co has most recently focused on expanding its partner network and continues to drive ahead its sustainability activities in this context. The Company sees major opportunities here both societally and operationally. In order to exploit these opportunities, Klöckner & Co has entered into partnership with the Swedish start-up H2 Green Steel, thus becoming one of the first distributors to secure access to significant quantities of virtually CO2-emission-free “green steel”. Under the partnership, up to 250,000 tons of “green steel” is initially to be supplied from 2025 onwards, with the possibility of increasing the volume in future years. This cooperation has enabled Klöckner & Co to significantly expand its portfolio of sustainable products and services. At the same time, the Group is supporting customers in establishing an emission-free value chain and is leading the way as a pioneer of the sustainable steel industry.
6. voda 12 november 2021 07:21

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   • voda

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   Huadi to Make SS Seamless Pipes for Hydrogen Tanks for Vehicles
   
   Strategic Research Institute
   Published on :
   12 Nov, 2021, 5:09 am
   
   Leading Chinese manufacturer of stainless steel seamless pipes Huadi International Group Co Ltd has entered into a strategic cooperation framework agreement with Zhejiang Lanneng Gas Equipment Limited to jointly develop and produce high-pressure hydrogen storage tank stainless steel pipe. Pursuant to the Agreement, both parties will start off using their respective resources advantages to formulate a manufacturing plan of the high-pressure hydrogen storage tank stainless steel pipe. Then, HUDI will be responsible for producing the stainless steel liner pipes and delivering qualified liner pipes to Lanneng according to the manufacturing plan. Lanneng will complete the production of the high-pressure hydrogen storage tank with liner pipes wrapped by carbon fiber. The storage tank would be used for the new energy vehicles
   
   Zhejiang Lanneng Gas Equipment Limited, founded in 2009, headquartered in Shangyu Economy & Technology Development District, Hangzhou, Zhejiang Province. It is a professional gas storage and transportation equipment manufacturing company integrating R&D, manufacturing, sales, service and system integration.
   
   Huadi International Group Co Ltd is a leading manufacturer of industrial stainless steel seamless pipes and tubes products with extensive distribution facilities and network for over twenty provinces in China. It also has a big presence across international steel pipes industry.

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7. voda 12 november 2021 07:22

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   • voda

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   Test Results for Steel Used in US Navy Submarines Fudged
   
   Strategic Research Institute
   Published on :
   12 Nov, 2021, 5:12 am
   
   Associated Press reported that a metallurgist Ms Elaine Marie Thomas has pleaded guilty to fraud after she spent decades faking the results of strength tests on steel that was being used to make US Navy submarines. According to her plea agreement filed in US District Court in Tacoma, Ms Thomas falsified the results of strength and toughness tests for at least 240 productions of steel from 1985 through 2017 to show that the steel would not fail in a collision or in certain wartime scenarios. Ms Thomas faces up to 10 years in prison and USD 1 million fine when she is sentenced in February. However, the Justice Department said it would recommend a prison term at the low end of whatever the court determines is the standard sentencing range in her case.
   
   Ms Thomas was the director of metallurgy at a foundry in Tacoma that supplied steel castings used by Navy contractors Electric Boat and Newport News Shipbuilding to make submarine hulls. Ms Thomas' conduct came to light in 2017, when a metallurgist was being groomed to replace her noticed suspicious test results and alerted their company, Kansas City-based Bradken Inc, which acquired the foundry in 2008. Ms Thomas told investigators that she changed the findings of several tests using her engineering judgment. Ms Thomas criticized a test that was conducted at minus 73 degrees Celsius as a dumb requirement and a stupid number to test because nothing could survive at that temperature.
   
   Bradken is the major supplier of cast high-yield steel used in submarine hull construction by prime contractors such as General Dynamics and Huntington Ingalls Industries. The steel castings must exceed “stringent” naval strength and toughness criteria and approximately half of the Bradken castings failed laboratory tests.
   
   Between 1985 and 2017, the Pentagon received dozens of submarines, roughly 40 of which are still in service. There is no allegation that any submarine hulls failed, but authorities said the Navy had incurred increased costs and maintenance to ensure they remain seaworthy. The government did not disclose which subs were affected. But, after falsified steel tests, the US Navy has increased its monitoring of submarines.

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8. voda 12 november 2021 07:24

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   • voda

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   Stabiele winstgevendheid Aperam
   Schulden lopen op.
   
   (ABM FN-Dow Jones) Aperam heeft in het derde kwartaal de winstgevendheid op een hoog niveau zien stabiliseren, dankzij een gunstige prijsontwikkeling. Dit bleek vrijdag uit de kwartaalcijfers van het bedrijf in roestvaststaal.
   
   "De sterke vraag kwam tot uiting in een solide orderboek en hogere prijzen in combinatie met de eerste resultaten uit ons Leadership Journey Phase 4", aldus CEO Timoteo De Maulo in een toelichting.
   
   De omzet daalde op kwartaalbasis licht van 1,27 miljard naar 1,26 miljard euro en de aangepaste EBITDA steeg van 262 miljoen naar 278 miljoen euro. De analistenconsensus rekende op een EBITDA van 273 miljoen euro. De taxaties van de analisten lagen tussen de 255 miljoen en 290 miljoen euro.
   
   In het derde kwartaal van 2020 behaalde Aperam bij een omzet van 841 miljoen euro een aangepaste EBITDA van 65 miljoen euro,
   
   De nettoschuld lag aan het einde van het derde kwartaal op 59 miljoen euro tegen 1 miljoen euro eind juni en 111 miljoen euro aan het einde van het derde kwartaal een jaar eerder.
   
   Netto verdiende Aperam afgelopen kwartaal 201 miljoen euro, min of meer stabiel ten opzichte van de 213 miljoen euro een kwartaal eerder en beduidend meer dan de 24 miljoen euro een jaar eerder.
   
   De vrije kasstroom bedroeg 90 miljoen euro tegen 87 miljoen euro een kwartaal eerder.
   
   Outlook
   
   Voor het vierde kwartaal verwacht Aperam een iets hogere aangepaste EBITDA dan in het derde kwartaal. Ook de vrije kasstroom zal in het lopende kwartaal iets hoger uitkomen. Wel waarschuwde CEO Di Maulo voor de hogere energieprijzen en een seizoensgebonden zwak kwartaal in Brazilië.
   
   Door: ABM Financial News.
   
   info@abmfn.nl
   
   Redactie: +31(0)20 26 28 999
9. voda 12 november 2021 07:24

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   MMK to Set Up Service & Logistics Metal Center for Auto Makers
   
   Strategic Research Institute
   Published on :
   12 Nov, 2021, 5:15 am
   
   Russian steel maker Magnitogorsk Iron and Steel Works, KAMAZ and Automobile Plant URAL have signed a strategic partnership agreement within the framework of the international industrial exhibition Metal-Expo 2021. The agreement provides for joint work aimed at effective cooperation in the supply of rolled metal and products from it, optimization of logistics, warehouse resources and services. Within the framework of the agreement, it is planned to create a Service and Logistics Metal Center located at the site of the MMK Industrial Park. The Service and Logistics Metal Center will be created on the basis of the anchor resident of the park - the M-Steel Group of Companies and with the direct participation of JSC AZ URAL. The parties are considering the possibility of attracting the transport company Intertrans-KAMAZ LLC to participate in the project, for the transportation of parts and blanks from the rolled metal of PJSC MMK by road trains running on liquefied gas.
   
   The pricing for rolled metal products of PJSC MMK under transactions for PJSC KAMAZ, LLC OMG, JSC AZ URAL and partners will be carried out on preferential terms using a single individual discount system.
   
   The creation of the Service and Logistics Metal Center at the site of LLC MMK-INDUSTRIAL PARK is in line with PJSC MMK's strategy for working with key customers in the automotive and mechanical engineering segments of the Russian Federation. At the same time, it is planned to increase the share of deliveries of rolled metal products of PJSC MMK for the needs of the United Machine-Building Group, KAMAZ and partners by optimizing logistics; increasing the share of deliveries by road; picking orders in warehouses of temporary storage warehouses.
   
   The site of the MMK industrial park is a ready-made property complex with an area of 65 hectares, with all engineering infrastructure, a developed railway network - all conditions have been created here for a quick start of almost any new production. LLC "MMK-Industrial Park" has been accredited by the Ministry of Industry and Trade of the Russian Federation, which enables investors to apply the system of tax incentives. At the moment, 37 residents are carrying out production activities at the site.
10. voda 12 november 2021 07:25

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    • voda

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    EU Automotive Sector to Rebound in 2021 & 2022
    
    Strategic Research Institute
    Published on :
    12 Nov, 2021, 5:17 am
    
    European Steel Association EUROFER in its latest Economic and steel market outlook 1121-2022 Fourth quarter 2021 report, which has data up to second quarter 2021, reported that over the second quarter of 2021 output in the automotive sector increased year-on-year by an exceptional 70.5%, almost entirely due to the comparison with the record lows of minus 52.4%) of the second quarter of 2020 when industrial production was idled because of the pandemic. Since the third quarter of 2020, the sector has seen a faster-than-expected rebound, thanks also to the rebound in external demand, resulting in increases in output year-on-year in the fourth quarter of 2020 and the first quarter of 2021 of 0.8%. After a severe slump of minus 21.2%, revised downwards from minus 20% in the previous Outlook) in 2020 due to the pandemic, automotive output is set to rebound by 9% in 2021 and more pronouncedly by 12.1% in 2022.
    
    Ongoing disruptions on the supply side, as well as hikes in energy prices and shipping costs at global level, have been curbing output growth considerably. They have also contributed to continued depressed demand and consumer uncertainty. The latest car passenger registration data in September 2021 recorded the most severe slump since 1995 minus 23% year-on-year. Also commercial vehicle registrations dropped, by minus 5.4% year-on- year in August. This major decrease in sales is largely caused by a lack of supply of vehicles due to the ongoing semiconductor shortage. On the other hand, over the first nine months of 2021 the number of passenger car registrations increased overall by +7% compared with the same period of 2020.
    
    In annual terms, automotive output fell by 21.2% in 2020 following the same negative trend of 2019 of minus 5.9%. The EU automotive sector had already experienced its worst slump during the euro area crisis of 2009-2012, when the recession was even bigger at minus 26.3%. Nonetheless, the automotive sector in 2020 has been hardest hit compared to all other steel-using sectors. Its output has been on a downward path since the third quarter of
    
    2018: sluggish domestic and export demand, trade-related uncertainties, emissions rules, shifting patterns in ownership and model ranges had been felt all over 2019 before the onset of the pandemic.
    
    The ongoing disruptions in the supply chain have continued to affect the automotive industry in the first half of 2021 and are expected to persist up to the first quarter of 2022. The rebound underway since the third quarter of 2020 has led to sharp quarter-on-quarter rises in output, but still around historically low levels. General economic uncertainty across the EU during the ongoing pandemic and subdued consumer confidence, due to poor disposable income developments, has continued to impact car demand from consumers. The manufacturing cycle began to rise again over the fourth quarter of 2020 and up to the second quarter of 2021, but uncertainty factors have been weighing on the fragile industrial recovery, which appears to be already losing momentum.
    
    Even assuming that from the second half of 2022 onwards the current supply chain issues will disappear, it will take time before pre-pandemic activity levels will resume. Another source of uncertainty is the consumer demand for new cars, which is expected to remain weak at least until the macroeconomic picture and consumer disposable income substantially improve.
11. voda 12 november 2021 07:25

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    • voda

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    Primetals & Sicon to Digitalize Scrap Yards
    
    Strategic Research Institute
    Published on :
    12 Nov, 2021, 5:19 am
    
    Primetals Technologies and SICON recently signed a cooperation agreement concerning the development of holistic solutions for the digitization of complete scrap yards. Primetals Technologies specializes, among other things, in optical scrap identification and the automation of production processes and logistics. SICON is a specialist in the processing, analysis and sorting of scrap. For the production of high quality steel grades, steel producers usually need solutions to all these issues, as well as a scrap composition matched to the end product. This "design scrap" allows a greater amount of scrap to be used in higher quality grades. This means that, when transforming a scrap yard into a digitalized and thus "smart" scrap yard, an integrated solution from Primetals Technologies and SICON saves a lot of work at the implementation stage and enables the processing of input materials for the production of high-quality end products.
    
    Primetals Technologies and SICON have been cooperating for some time, especially with steel producers, to automate and digitalize processes related to scrap handling. Due to the continuously growing demands on the steel grades produced, the optical detection of foreign materials in scrap and the complete automation of logistics processes are becoming increasingly important in addition to the chemical purity and pre-sorting. As part of the cooperation, both companies are now developing holistic solutions for the digitalization of complete scrap yards. The solution portfolio covers the complete chain from the delivery of scrap to the feeding of the melting units. Interfaces between different modules are standardized. Data and information can be used across all solutions. This saves steel producers time and effort in defining and programming interfaces and in coordinating implementation. Depending on the project requirements, individual modules can be selected and, if necessary, added at a later date.
    
    SICON is a medium-sized machine and plant manufacturer with an international orientation and focus on the development and implementation of customer-specific solutions for ferrous and non-ferrous metal processing in the scrap and steel industry. Founded in 1998 as a planning and consulting office, SICON today offers as a manufacturer and supplier the complete spectrum of scrap and metal processing, ranging from shredding to the separation of all materials according to type.
12. voda 12 november 2021 07:26

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    DIPAM Invites Bids from Asset Valuers for Ferro Scrap Nigam Sale
    
    Strategic Research Institute
    Published on :
    12 Nov, 2021, 5:21 am
    
    India’s Department of Investment and Public Asset Management has invited bids from asset valuers to assist the government in the strategic sale of Ferro Scrap Nigam Ltd. DIPAM said “The Department of Investment and Public Asset Management requires the services of a reputed asset valuer entity, registered with the Insolvency and Bankruptcy Board of India, to carry out the company's asset valuation and assist the government in the process of strategic disinvestment of FSNL till the completion of the transaction."
    
    DIPAM added “The broad scope of work for the asset valuer is to carry out the valuation of all assets of FSNL, including its plant and machinery, land and buildings, furniture, civil infrastructure and associated intangibles on as is where is basis and keeping in view the objective of disinvestment.”
    
    Ferro Scrap Nigam Ltd, a miniratna CPSE under the administrative control of the steel ministry, is a 100% subsidiary of MSTC. Ferro Scrap Nigam Ltd provides steel mill services and is currently working through eight steel plants across the country.
13. voda 12 november 2021 07:27

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    • voda

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    Algoma Steel to Switch to Electric Arc Steel Making
    
    Strategic Research Institute
    Published on :
    12 Nov, 2021, 5:23 am
    
    Canadian steel maker Algoma Steel Group Inc announced that its Board of Directors has authorized the Company to construct two new state-of-the-art electric-arc-furnaces to replace its existing blast furnace and basic oxygen steelmaking operations. The transformation is expected to reduce Algoma’s carbon emissions by approximately 70%. Following the transformation to EAF steelmaking, Algoma’s facility is anticipated to have an annual raw steel production capacity of approximately 3.7 million tons, matched to Algoma’s downstream finishing capacity, and is also anticipated to include new vacuum degassing capability to expand Algoma’s offering of steel plate grades.
    
    The Company believes this planned growth investment will provide a number of key competitive and strategic advantages:
    
    Lower conversion cost structure more correlated to market pricing drivers
    
    Lower carbon tax liabilities
    
    Lower sustaining capital investments
    
    Flexible production, scalable to market conditions
    
    Reduced single furnace risk through dual furnace strategy
    
    Enhanced product quality and diversification
    
    Positions Algoma as an attractive Environmental, Social, and Governance investment
    
    The Company plans to invest approximately CAD 700 million in the EAF transformation, funded with previously announced financing commitments and the proceeds related to the Company’s recently completed merger. Algoma anticipates a 30-month construction phase for the EAF facility, coming online in 2024, and expects to transition away from blast furnace steelmaking thereafter as more electric power on the grid supplying Algoma becomes available.
    
    Coupled with Algoma’s current investments in the Direct Strip Production hot rolling mill and its modernized plate mill project, the Company believes the enhanced capabilities expected to result from the EAF transformation will position Algoma as a competitive, energy-efficient, lower environmental impact steelmaker.
    
    Based in Sault Ste Marie in Ontario Canada, Algoma is a fully integrated producer of hot and cold rolled steel products including sheet and plate with a current raw steel production capacity of an estimated 2.8 million tons per year.

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14. voda 12 november 2021 07:29

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    NMDC Delivers Strong Perormance in Q2 & H1 of 2021-22
    
    Strategic Research Institute
    Published on :
    12 Nov, 2021, 5:26 am
    
    India's largest iron ore producer NMDC has delivered another strong financial performance, with a 205% and 196% increase in turnover and PBT respectively in the second quarter of FY22. NMDC CMD Mr Shri Sumit Deb said “The demand for iron and steel has witnessed a boom in the emerging markets. As a key player in the mining industry, We responded with proactive production enhancement initiatives and are now reaping benefits of our agile response to the demand with an exceptional quarter. We aim to focus on capacity expansion initiatives and enforcement of digital infrastructure.”
    
    During Q2, NMDC has been able to outperform both production and sales over the CPLY. In this quarter, NMDC produced 8.77 million tonnes and sold 8.99 million tonnes of iron ore. NMDC’s turnover for the Q2 of 2021-22 is INR 6794 crore as against INR 2230 crore over CPLY. NMDC’s Profit before Tax for the Q2 of 2021-22 is INR 3142 crore as against Rs. 1063 crore during Q2 of 2020-21, an increase by 196%. Profit after Tax for Q2 of 2021-22 increased by 202% to INR 2341 crores against INR 774 crores during Q2 of 2020-21.
    
    NMDC has produced 17.68 million tonnes & sold 18.43 million tonnes during the H1 of FY22 which is 44% & 43% more than CPLY. NMDC’s Turnover during the H1 of FY22 is INR 13,306 crore and PBT is INR 7,405 Crore in H1 which is 219 % and 306% more respectively than CPLY. This is the best ever H1 results for the company.
15. voda 12 november 2021 07:32

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    Tata Steel BSL Merged with Tata Steel
    
    Strategic Research Institute
    Published on :
    12 Nov, 2021, 5:28 am
    
    Tata Steel BSL has completed its merger with its parent company Tata Steel Ltd on November 11, 2021. Tata Steel announced that Tata Steel, Bamnipal Steel Limited and Tata Steel BSL Limited have in terms of Scheme of Amalgamation, filed the Certified Copy of the NCLT Order, sanctioning the Scheme of Amalgamation with the respective jurisdictional Registrar of Companies on November 11, 2021. With this filing, the Company, BNPL and TSBSL have now complied with all the conditions specified in Clause 25.1 of the Scheme of Amalgamation. Accordingly, in terms of Clause 3.1 read with Clause 1.9 of para III of Part I of Scheme of Amalgamation, the captioned Scheme of Amalgamation has become operative from November 11, 2021
    
    The Composite Scheme of Amalgamation of Bamnipal Steel Limited and Tata Steel BSL Limited into and with Tata Steel Limited was approved and sanctioned by the Hon’ble National Company Law Tribunal, Mumbai bench vide Order dated October 29, 2021.
16. voda 12 november 2021 07:32

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    India’s Crude Steel Output Continues to Surge in in October
    
    Strategic Research Institute
    Published on :
    12 Nov, 2021, 5:32 am
    
    According to provisional estimates by the Joint Plant Committee, India’s crude steel production rose 21% YoY in January-October 2021 to 96.86 million tonne, up from 80.36 million tonne in January-October 2020, raising the possibility of 2021 output rising to more than 115 million tonne from 100.31 million tonne in 2020. January-October steel consumption, at 86.11 million tonne, was up strongly on the year from 69.86 million tonne as lockdowns had dented steel production between April-June 2020.
    
    October 2021
    
    October 2021 provisional crude steel production was 9.75 million tonne, up from 9.56 million tonne in October 2020 and 9.55 million tonne in September 2021.
    
    Tata Steel - 1.64 million tonne, up 8% MoM & 6% YoY
    
    Steel Authority of India Ltd - 1.54 million tonne, up 6% YoY & 7% MoM
    
    JSW Steel – 1.43 million tonne, up 6% YoY & 6% MoM
    
    Finished steel production in October 2021, at 9.03 million tonne, was unchanged MoM and was down 1% onYoY from 9.15 million tonne inn October 2021.
    
    Exports in October 2021, at 1.06 million tonne, slipped 21% MoM from 1.35 million tonne but was up 89% on the year from 0.56 million tonne.
    
    Imports fell 7% MoM to 0.38 million tonne in October 2021 from 0.41 million tonne in September 2021 but were up 5% YoY from 0.36 million tonne in October 2020.
    
    Overall consumption of 8.28 million tonne in October 2021 was up 1% on the month, but down 12% on the year, from 9.40 million tonne.
17. voda 12 november 2021 07:33

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    ArcelorMittal Reports USD 414 per Tonne EBIDTA for Q3 of 2021
    
    Strategic Research Institute
    Published on :
    12 Nov, 2021, 5:36 am
    
    World’s leading integrated steel and mining company ArcelorMittal has announced results for the three months and nine-month period ended September 30, 2021. ArcelorMittal Chief Executive Officer Mr Aditya Mittal said “Our third quarter results were supported by the continuing strong price environment, resulting in the highest net income and lowest net debt since 2008. Despite the volatility we continue to see as a result of the on going presence and repercussions of COVID-19, this has been a very strong year for ArcelorMittal. The outlook remains positive: underlying demand is expected to continue to improve; and, although marginally off the recent record highs, steel prices remain at elevated levels, something which will be reflected in the annual contracts for 2022.”
    
    July-September 2021 Quarter
    
    Sales – USD 20,229 million, up 5% QoQ
    
    Operating income – USD 5,345 million, up 21% QoQ
    
    EBITDA – USD 6,058 million, up 20% QoQ
    
    EBITDA per tonne – USD 414, up 32% QoQ
    
    Crude steel production - 17.2 million tonnes, down 3% QoQ
    
    Steel shipments - 14.6 million tonnes, down 9% QoQ
    
    Total group iron ore production – 13 million tonnes, up 16% QoQ
    
    Steel shipments
    
    NAFTA shipments declined by 12%, largely due to operational disruptions (including the impacts of hurricane Ida) in Mexico
    
    Brazil shipments declined by 4.6%, due largely to export shipment delays at the end of the quarter
    
    Europe scope adjusted shipments declined by 7.7%, impacted by weaker demand, including lower automotive sales (driven by the late cancellation of orders), as well as the impacts on shipments caused by the severe floods in Europe in July 2021
    
    ACIS shipments declined by 15.5% due to weaker market conditions in the CIS as well as export shipments delays at the end of the quarter.
    
    January – September 2021
    
    Sales - 55,765 million, up 43% YoY
    
    Operating income - 12,418 million, up 10988% YoY
    
    EBITDA - 14,352 million, up 457% YoY
    
    EBITDA per tonne - USD304 per tonne, up 508% YoY
    
    Crude steel production - 52.6 million tonnes, up 0% YoY
    
    Steel shipments - 47.2 million tonnes, down 9% YoY
    
    Total group iron ore production - 37.5 million tonnes, down 12% YoY
    
    Decarbonization
    
    Post 2Q 2021 results, ArcelorMittal and the Government of Canada announced a plan to invest CAD 1.8 billion in order to reduce CO2 emissions at Dofasco by 2.9Mt; finalizing Government of Canada support and in discussions with Government of Ontario
    
    ArcelorMittal Mines Canada to invest CAD 205 million in its Port-Cartier pellet plant, enabling this facility to convert its entire 10Mtpa annual pellet production to DRI pellets by the end of 2025
    
    The Company signed a letter of intent with the governments of Belgium and Flanders, supporting EUR 1.1 billion investment in decarbonization technologies at its flagship Gent plant
    
    ArcelorMittal joined Breakthrough Energy’s Catalyst program as an anchor partner
    
    The Company contributed to the development of the Mission Possible Partnership’s Net Zero Steel Strategy, published in October 2021 with Energy Transitions Commission and the Rocky Mountain Institute
    
    Strategic Growth
    
    ArcelorMittal has signed on September 10, 2021, with the Government of the Republic of Liberia an amendment to its Mineral Development Agreement which, upon ratification, will lead to the acceleration of construction of the 15Mtpa concentrator plant project phase 2 expansions; with further expansion opportunities to 30Mtpa
    
    AMNS India completed construction of a 6Mtpa pellet plant in Odisha taking its pellet capacity up to 20Mtpa and commenced operations at the Ghoraburhani-Sagasahi iron ore mine in Odisha with 7.2Mtpa capacity
    
    During the quarter, the Company approved strategic investments to strengthen its Long products businesses in Brazil (Monlevade expansion, previously “on hold”) and further vertically integrate its Mexico operations through investments at Las Truchas (Mexico) and Serra Azul (Brazil) iron ore mines.
18. voda 12 november 2021 07:35

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    AMNS India Reports Strong Performance in Q3 of 2021
    
    Strategic Research Institute
    Published on :
    12 Nov, 2021, 5:30 am
    
    World’s leading integrated steel and mining company ArcelorMittal announced that AMNS India, 60% equity interest, delivered another strong performance in Q3 of 2021. ArcelorMittal Chief Executive Officer Mr Aditya Mittal said “In India, our joint venture with Nippon Steel continued to perform strongly despite headwinds from higher energy prices and the pandemic. Steel production at Hazira rose further in the third-quarter and the JV is making good progress with its expansion and vertical integration plans. While the pandemic continues to introduce higher than normal levels of volatility across the world, our confidence in India’s domestic steel industry and long-term economic growth prospects remains intact.”
    
    Highlights
    
    3Q’21 crude steel production of 1.9 million tonnes vs1.8 million tonnes in 2Q’21); 7.6 million tonnes annualized production
    
    3Q’21 EBITDA of USD 551 million vs USD 607 million in 2Q’21 primarily due to a negative price cost-impact, including higher iron ore and energy costs; 9M’21 EBITDA annualizing > USD 2.0 billion
    
    AMNS India completed construction of a 6Mtpa pellet plant in Odisha taking its pellet capacity up to 20Mtpa and commenced operations at the Ghoraburhani-Sagasahi iron ore mine in Odisha with 7.2Mtpa capacityWorld’s leading integrated steel and mining company ArcelorMittal announced that AMNS India, 60% equity interest, delivered another strong performance in Q3 of 2021. ArcelorMittal Chief Executive Officer Mr Aditya Mittal said “In India, our joint venture with Nippon Steel continued to perform strongly despite headwinds from higher energy prices and the pandemic. Steel production at Hazira rose further in the third-quarter and the JV is making good progress with its expansion and vertical integration plans. While the pandemic continues to introduce higher than normal levels of volatility across the world, our confidence in India’s domestic steel industry and long-term economic growth prospects remains intact.”
    
    Highlights
    
    3Q’21 crude steel production of 1.9 million tonnes vs1.8 million tonnes in 2Q’21); 7.6 million tonnes annualized production
    
    3Q’21 EBITDA of USD 551 million vs USD 607 million in 2Q’21 primarily due to a negative price cost-impact, including higher iron ore and energy costs; 9M’21 EBITDA annualizing > USD 2.0 billion
    
    AMNS India completed construction of a 6Mtpa pellet plant in Odisha taking its pellet capacity up to 20Mtpa and commenced operations at the Ghoraburhani-Sagasahi iron ore mine in Odisha with 7.2Mtpa capacity.

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19. voda 12 november 2021 07:59

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    Salzgitter boekt forse winst
    Profiteert van hogere prijzen.
    
    (ABM FN-Dow Jones) Salzgitter heeft in de eerste negen maanden van dit jaar een forse winst geboekt, terwijl er een jaar eerder nog een verlies onder de streep stond. Dit maakte het Duitse staalbedrijf vrijdagochtend bekend.
    
    In de afgelopen negen maanden werd een winst voor belastingen geboekt van 604,5 miljoen euro, waar dit in dezelfde periode een jaar eerder nog een verlies van 224,4 miljoen euro was.
    
    De handelstak heeft daarbij het beste kwartaal ooit in de boeken gezet, zo stelde Salzgitter. Deze divisie genereerde een winst van 282 miljoen euro tegen een verlies van 23 miljoen euro een jaar eerder en draagt daarmee het meeste bij aan de winst. De divisie Strip Steel droeg 238 miljoen euro bij. De divisies profiteerden van hogere prijzen.
    
    De groepsomzet bedroeg 7,0 miljard euro tegen 5,3 miljard euro een jaar eerder.
    
    Wel drukte een hoger werkkapitaal op de balans. De kaspositie bedroeg 615 miljoen euro negatief tegen 432 miljoen euro negatief per eind 2020 en 498 miljoen euro in de min aan het einde van het derde kwartaal van 2020.
    
    CEO Gunnar Groebler sprak van "uitstekende" resultaten.
    
    Salzgitter bevestigde de outlook voor heel het jaar. Daarmee mikt het staalbedrijf onverminderd op een omzet van meer dan 9 miljard euro en een winst van 600 tot 700 miljoen euro.
    
    Door: ABM Financial News.
    
    info@abmfn.nl
    
    Redactie: +31(0)20 26 28 999
20. voda 12 november 2021 08:46

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    Beursblik: recordresultaten Aperam
    Jefferies handhaaft Houden advies.
    
    (ABM FN-Dow Jones) Aperam heeft in het derde kwartaal van dit jaar recordresultaten geboekt. Dit stelde analist Alan Spence van Jefferies vrijdag.
    
    Aperam boekte een aangepaste EBITDA van 278 miljoen euro, hetgeen 4 procent hoger was dan waar Jefferies op mikte en 2 procent hoger dan waar de consensus vanuit ging.
    
    Aperam verwacht voor het lopende vierde kwartaal dat de aangepaste EBITDA op kwartaalbasis licht zal stijgen. Dit zal volgens Spence leiden tot een opwaartse bijstelling van de consensus met 3 tot 5 procent. De consensus mikt nu nog op een resultaat van 277 miljoen euro.
    
    Verder wees de analist op het nieuws dat Aperam het inkoopprogramma van eigen aandelen afrondde in het afgelopen kwartaal met de aankoop van krap 2 miljoen aandelen voor een bedrag van 100 miljoen euro.
    
    Jefferies heeft een Houden advies op Aperam met een koersdoel van 48,00 euro. Het aandeel sloot donderdag op 51,80 euro.
    
    Door: ABM Financial News.
    
    info@abmfn.nl
    
    Redactie: +31(0)20 26 28 999