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1. voda 16 november 2021 06:40

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   China Steel Corporation to Modernise Power Plant
   
   Strategic Research Institute
   Published on :
   16 Nov, 2021, 2:18 am
   
   Taiwanese steel maker China Steel Corporation’s board of director’s have approved a resolution of investing NTD 3,277 million to launch Phase Two Project of Replacement Program of Boiler-Turbine-Generators for No 1 Power Plant. The purpose of this project is to stabilize steam and power supply, improve power generating efficiency by increasing net generation capacity of 32.8MW, and meet environmental requirements of energy saving and carbon reduction by installing air pollution control facilities.
   
   With the completion of this project, CSC's self-owned power generation ratio will be increased from 43.5% to 54.9%, and it is expected to reduce emission of SOx of 154 MT/YR, NOx of 56 MT/YR, and CO2 of 140 thousand MT/YR, which is equivalent to carbon uptake of 360 Daan Forest Parks per year. This project will commence on December 1, 2021 and is scheduled for completion on March 31, 2026.
2. voda 16 november 2021 06:40

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   Steel Dynamics Named as One of World's Best Employers by Forbes
   
   Strategic Research Institute
   Published on :
   16 Nov, 2021, 2:20 am
   
   Forbes has named US steel maker Steel Dynamics Inc one of the World's Best Employers for 2021. Steel Dynamics was the only US steel producer receiving this designation and one of only 236 US based businesses to make the 2021 list, which is comprised of 750 global companies. Steel Dynamics Inc President and Chief Executive Officer Mr Mark D Millett said "We are especially honored by this recognition. Above all, we value the dedicated people whose drive, innovation, and commitment have helped successfully grow our company and serve our customers. Our teams are the foundation and driver of our success. Their passion compels us to the highest standard of excellence, and their health and safety is our number one value. I thank each of them for their dedication to each other, our customers, and our communities."
   
   Forbes and Statista selected the World's Best Employers for 2021 based on independent surveys of roughly 150,000 employees in more than 55 countries working around the world. Participants were asked to rate employers on aspects such as image, trust, gender equality, corporate social responsibility, culture and benefits. The 750 companies that received the highest total scores made the final list.
   
   Steel Dynamics is one of the largest domestic steel producers and metals recyclers in the United States based on estimated annual steelmaking and metals recycling capability, with facilities located throughout the United States, and in Mexico. Steel Dynamics produces steel products, including hot roll, cold roll, and coated sheet steel, structural steel beams and shapes, rail, engineered special-bar-quality steel, cold finished steel, merchant bar products, specialty steel sections and steel joists and deck. In addition, the company produces liquid pig iron and processes and sells ferrous and nonferrous scrap.
3. voda 16 november 2021 06:41

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   US Steel Production Capacity Utilization Remains at 84% in Week 45
   
   Strategic Research Institute
   Published on :
   16 Nov, 2021, 2:23 am
   
   AISI announced that in the week ending on November 13, 2021, US’s domestic raw steel production was 1,856,000 net tons while the capability utilization rate was 84.1 percent. Production was 1,621,000 net tons in the week ending November 13, 2020 while the capability utilization then was 73.3 percent. The current week production represents a 14.5 percent increase from the same period in the previous year. Production for the week ending November 13, 2021 is up 0.8 percent from the previous week ending November 6, 2021 when production was 1,841,000 net tons and the rate of capability utilization was 83.4 percent.
   
   Adjusted year-to-date production through November 13, 2021 was 82,576,000 net tons, at a capability utilization rate of 81.5 percent. That is up 20.0 percent from the 68,811,000 net tons during the same period last year, when the capability utilization rate was 67.7 percent.
   
   Broken down by districts, here’s production for the week ending November 13, 2021 in thousands of net tons
   
   North East: 177
   
   Great Lakes: 619
   
   Midwest: 203
   
   Southern: 782
   
   Western: 75
   
   Total 1856
4. voda 16 november 2021 06:42

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   Tata Steel (Thailand) Receives THSI Award 2021
   
   Strategic Research Institute
   Published on :
   16 Nov, 2021, 2:26 am
   
   Tata Steel (Thailand) Plc last monh received Thailand Sustainability Investment Award 2021 from The Stock Exchange of Thailand. THSI Award was granted to outstanding listed company for conducting sustainable business performance with responsibility for environmental, social and governance continuously.
   
   The Stock Exchange of Thailand created the Thailand Sustainability Investment list in 2015, which comprises of the listed companies that conduct sustainable business operations. The listed companies on the THSI continuously create long-term returns by valuing their responsibility to society (Social) and the environment (Environmental), and by managing their business with transparency, in line with corporate governance principles (Governance). THSI serves as another choice for investors who desire to adopt a responsible investment approach.
5. voda 16 november 2021 06:42

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   Swiss Steel Continues to Increase Profitability in Q3 of 2021
   
   Strategic Research Institute
   Published on :
   16 Nov, 2021, 2:28 am
   
   Swiss Steel announced that at 410 kilotons, 23.5 % more steel was sold in the third quarter of 2021 than in the same quarter of the previous year (Q3 2020: 332 kilotons), reflecting the ongoing post COVID-19 recovery in the major end markets. The average sales proceeds per ton of steel continued to rise in the third quarter of 2021 on the back of climbing raw material prices and, at EUR 1,868, was significantly higher than the average sales proceeds achieved in the same quarter of the previous year (Q3 2020: EUR 1,534 per ton). The increased sales volumes and positive price development led to revenue of EUR 765.0 million, an increase of 50.2 % on the prior-year quarter (Q3 2020: EUR 509.4 million). The uptick in revenue was spread across all product groups, with the strongest growth in quality and engineering steel. By region, revenue increased in all sales markets. Europe, our largest sales market, which was hit particularly hard by the measures to contain the COVID-19 pandemic in the prior-year quarter, saw sales increase by 55.8 %.
   
   At EUR 41.8 million in the third quarter of 2021, adjusted EBITDA was considerably higher than in the prior-year quarter (Q3 2020: EUR - 21.1 million). One-time effects amounted to EUR 0.3 million. Including these one-time effects, EBITDA was EUR 41.5 million (Q3 2020: EUR - 28.8 million). In the third quarter, the adjusted EBITDA margin rose to 5.5 % (Q3 2020: - 4.1 %) and the EBITDA margin to 5.4 % (Q3 2020: - 5.7 %).
   
   Outlook for fiscal year 2021 - Extremely volatile input prices combined with rapidly shifting demand patterns on the part of our customers in the automotive industry are significantly impairing the ability to forecast future market trends and performance. Our focus over the coming weeks and months will be to react swiftly and flexibly to fluctuations in demand and volatile factor costs. Despite a momentary softening of demand from the automotive industry, high raw material prices and extreme volatility in energy prices, we confirm our guidance of adjusted EBITDA in the range of EUR 150 to EUR 180 million for 2021.
6. voda 16 november 2021 06:42

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   Arabian Pipes Signs another Deal to Supply Steel Pipes to Aramco
   
   Strategic Research Institute
   Published on :
   16 Nov, 2021, 2:30 am
   
   Arabian Pipes Company has signed a contract worth SAR 190 million with Saudi Arabian Oil Company for supply of steel pipes. The contract duration is 12 months from the date of signing the deal.
   
   Arabian Pipes Co had secured an orders worth SAR 305 million (USD 81 million) for the supply of steel pipes to Saudi Aramco last week also
   
   Arabian Pipes Co manufactures welded steel pipes for Oil and Gas, Structural and commercial utilization with sizes range from 6 to 48 inch. The company owns and operates two factories, the first plant in Riyadh with average capacity of 160 thousand tonne per year of ERW pipes with sizes range from 6 to 20 inch and the second plant in Jubail industrial city with average capacity of 300 thousand tonne per year of LSAW pipes with sizes range from 16 to 48 inch to reach a total average capacity to 460 thousand tonne per year. Also the company has threading line for casing pipes, a coating facility and slitting line for steel coils.
7. voda 16 november 2021 06:43

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   US DoC Opens AD Probe on OCTG from Argentina, Mexico & Russia
   
   Strategic Research Institute
   Published on :
   16 Nov, 2021, 2:33 am
   
   US Department of Commerce finds that the petitioners demonstrated sufficient industry support for the initiation of the requested LTFV investigations. The products covered by these investigations are OCTG from Argentina, Mexico, and Russia.
   
   On October 6, 2021, the Department of Commerce received antidumping duty petitions concerning imports of oil country tubular goods from Argentina, Mexico, and Russia filed in proper form on behalf of Borusan Mannesmann Pipe US Inc, PTC Liberty Tubulars LLC, US Steel Tubular Products Inc, the United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers International Union, AFL-CIO, CLC (the USW), and Welded Tube USA Inc. The Petitions were accompanied by countervailing duty petitions concerning imports of OCTG from the Republic of Korea and Russia.
   
   The period of investigation for these LTFV investigations is October 1, 2020, through September 30, 2021
8. voda 16 november 2021 06:43

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   Steel Tube Industry Activity in EU to Recover by 21% in 2021
   
   Strategic Research Institute
   Published on :
   16 Nov, 2021, 2:35 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 tube sector increased by an exceptional by 30.7% year-on-year, mostly due to the comparison with the very low output volumes recorded one year before. After a series of six quarterly decreases in a row, the negative trend started reversing already in the first quarter of 2021, with a growth of 3.4%.
   
   Production activity in the EU steel tube industry has become increasingly aligned with downstream sectors such as construction, automotive, metal goods and mechanical engineering. Nonetheless, the tube industry had proven relatively resilient during 2019, showing more moderate decreases in output compared to other steel-using sectors. This can be partly explained by the links with the construction sector in the EU, which had a positive impact on demand for steel tubes at least up to the first quarter of 2020. The trend ended with the pandemic, which impacted also the construction sector.
   
   A rebound in steel tube output of 12.5%, revised upwards from 9.8% in the previous Outlook is expected for 2021, followed by more moderate growth of 2.3% in 2022. Steel tube output fell for the third consecutive year in 2020, at a much faster rate than in 2019 minus 14% vs minus 0.3%.
9. voda 16 november 2021 06:44

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   Indian Institute of Metals Celebrates 75 Years of Service
   
   Strategic Research Institute
   Published on :
   16 Nov, 2021, 2:37 am
   
   This year, the Indian Institute of Metals is celebrating its 75 years of glorious service to the Nation. The International Conference and 75th Annual Technical Meeting of IIM, an annual mega event, was organised virtually, from November 13-15, 2021 to celebrate the legacy of the institution. The Indian Institute of Metals President and CEO & MD of Tata Steel Mr TV Narendran said “This is the Platinum Jubilee year of the Indian Institute of Metals. Celebrations for the Platinum Jubilee started in February 2021. Several competitions and webinars have been held. It is a landmark for any professional body to continue its journey for 75 years.”
   
   In his Presidential address, Mr Narendran stressed upon that going forward IIM should play a prominent role in the emerging eco-system of start-ups. IIM could provide a platform where young, energetic entrepreneurs with bright ideas would meet industries that would provide mentorship and opportunities to scale up.
   
   This was followed by the annual award function. Individual metallurgists and materials scientists as well as organisations have been recognised by IIM for contributions towards industrial, academic brilliance and societal well-being. Post this, three memorial lectures, two plenary lectures were conducted, and eight parallel sessions commenced. Finally, on November 15, 2021, the event concluded post the eight parallel sessions, valedictory session, and ATM prize distribution.
   
   The legacy of IIM, in many ways, is deeply intertwined with the legacy of the Indian metals sector. IIM was created around the same time India gained its independence and has since played a vital role as a nation-building institution. Over the last seven and half decades, IIM has not only been a temple of knowledge for metallurgists and other professionals in the metals industry, but also an active participant enabling its growth in India. The 75 years celebration marks a new chapter for IIM and its members and an opportune time to explore new frontiers of innovation, sustainability and excellence to enable India in becoming a manufacturing hub.
   
   The idea of formation of an Indian Institute for Metallurgists was conceived as early as in 1945. The final shape took place in the year 1947 and The Indian Institute of Metals was founded. Since then, the Institute has grown phenomenally into a reputed Institution, devoted for promotion and advancement in the study, practice and research of metallurgical science and technology. The vision of the Indian Institute of Metals is to "Build a community of scientists, engineers and technologists that will take India to global leadership in minerals, metallurgical and materials science and engineering, and be the premier advocate for materials and manufacturing innovation”.
10. voda 16 november 2021 06:44

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    SSAB & Autoliv to Collaborate on Fossil Free Steel inAuto Products
    
    Strategic Research Institute
    Published on :
    16 Nov, 2021, 2:40 am
    
    Steel company SSAB and automotive safety supplier Autoliv have initiated collaboration to research and develop fossil-free steel components for automotive safety products, such as airbags and seatbelts. SSAB President & CEO Mr Martin Lindqvist said “We are looking forward to working with Autoliv and to start the process of research and development of innovative fossil-free steel components for their automotive safety products. We are initiating a number of pilot projects together with Autoliv with the aim to reduce climate impact and strengthen competitiveness.”
    
    In 2026, SSAB plans to supply the market with fossil-free steel at a commercial scale after a conversion of its Oxelösund blast furnaces into an electric arc furnace and by using iron made with the HYBRIT technology, which replaces coking coal traditionally needed for iron ore-based steelmaking, with fossil-free electricity and hydrogen. This process virtually eliminates carbon dioxide-emissions in steel production. On August 18, SSAB showcased the first steel made of hydrogen reduced iron.
11. voda 16 november 2021 06:44

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    Posco to Expand Capacity of Electric Steel for EV Motors
    
    Strategic Research Institute
    Published on :
    16 Nov, 2021, 2:43 am
    
    Korea Joon-gang Daily reported that South Korean steel maker Posco will invest KWR 1 trillion (USD 850 million) by 2025 to quadruple its capacity to produce electrical steel sheets used to make traction motors for electric vehicles. The new factory will raise Posco’s capacity to produce electrical steel for traction motors to 400,000 tonnes annually by 2025 from its current 100,000 tonnes. Posco will be able to produce more efficient electrical steel for traction motors at the new factory. The location of the factory was not revealed.
    
    Traction motors, consisting of a stator and rotors, play a pivotal role in generating electricity, and are the engines of electric vehicles.
12. voda 16 november 2021 06:45

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    ArcelorMittal Poland Investing in Coke Plant in Kraków
    
    Strategic Research Institute
    Published on :
    16 Nov, 2021, 2:45 am
    
    ArcelorMittal Poland’s coke plant in Kraków will invest in the modernization of the dedusting installation of the coke oven battery as well as in construction of desorption column and ammonized water installation. Thanks to these investments, worth PLN 31.5 million and due to start at the end of this year the company will reduce its environmental footprint. The coke produced at the Kraków unit of the company goes mainly to the plant in Dabrowa Górnicza. It is produced in a coke oven battery that has a comprehensive dedusting system. Now this system will be modernized.
    
    The works will cover the entire transmission line: from the coke oven battery through the installation of coke dry quenching to the dedusting plant. The structure, including thermal insulation, of the dedusting caps used when emptying the coke from the battery will also be modernized. ArcelorMittal Poland’ will replace 980 bag filters in dedusting plant in Kraków coke plant. The works are to start at the end of 2021 and last until April 2022.
    
    Another significant investment is the construction of desorption column and construction of the ammonized water installation. This installation is key to maintain the parameters of coke oven gas cleaning according to Best Available Techniques. These works will also commence at the end of 2021 and last for about 12 months.

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13. voda 16 november 2021 06:46

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    AISI Hails Infrastructure Bill Signing Using American Made Steel
    
    Strategic Research Institute
    Published on :
    16 Nov, 2021, 2:48 am
    
    US President Mr Joe Biden signed Infrastructure Investment and Jobs Act and the creation of a task force to implement the new law delivering on a major campaign promise that aims to revitalize the nation's roads, bridges, waterways and public transit. The president signed the bill as a bipartisan group of lawmakers, governors, mayors, and business and union leaders looked on. The bill earned the support of 19 Republicans in the Senate and 13 GOP members of the House. He said "The world has changed, and we have to be ready. My fellow Americans, today I want you to know, we hear you and we see you. The bill I'm about to sign into law is proof that despite the cynics, Democrats and Republicans can come together and deliver results. We can do this. We can deliver real results for real people. Today, we're finally getting this done. So my message to the American people is this: America is moving again, and your life is going to change for the better."
    
    Formally known as the Infrastructure Investment and Jobs Act, the law includes USD 550 billion in new spending on the nation's physical infrastructure and represents the largest investment in roads, bridges, ports, water and rail in years. The full bipartisan bill contains USD 550 billion in new spending; the USD 1.2 trillion figure comes from including additional funding normally allocated each year for highways and other infrastructure projects. The new spending includes:
    
    USD 110 billion for roads and bridges
    
    USD 66 billion for railroads
    
    USD 65 billion for the power grid
    
    USD 65 billion for broadband
    
    USD 55 billion for water infrastructure
    
    USD 47 billion for cyber security and climate change
    
    USD 39 billion for public transit
    
    USD 25 billion for airports
    
    USD 21 billion for the environment
    
    USD 17 billion for ports
    
    USD 11 billion for safety
    
    American Iron and Steel Institute President & CEO Mr Kevin Dempsey said “This day is long-awaited, not just by those of us in the steel industry but by all Americans. Modernizing our roads and bridges, ports and waterways, water infrastructure, the electric grid, and investing in electric vehicle systems, is critical to our safety and security. We applaud the fact that the new law, and the executive order implementing it, have a strong focus on enhancing U.S. competitiveness and using American-made products – including by using American-made steel, which is cleaner and more sustainable than steel made in the other leading steel-producing countries. Today’s announcement also calls for the building of more resilient infrastructure to combat the climate crisis, and American steel will provide that resilience. Steel’s strength and durability make it an essential component for building a more sustainable future for our country, including through increased investment in clean energy production and other 21st century infrastructure innovations.”
14. voda 16 november 2021 06:47

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    Voestalpine Awarded Certificate for Sustainable Steel Production
    
    Strategic Research Institute
    Published on :
    16 Nov, 2021, 2:50 am
    
    Austrian steel maker voestalpine’s Linz-based Steel Division is now one of the first steel companies worldwide to have been officially certified as a sustainable production site by the non-profit organization ResponsibleSteel. The precondition for certification was to fulfill 200 criteria which included the responsible procurement of raw materials, reducing CO2 emissions, and the management of labor and human rights. voestalpine AG CEO Mr Herbert Eibensteiner said “Our corporate strategy prioritizes corporate responsibility. We have been living up to our ecological and social responsibility for many years. greentec steel is our ambitious phased plan to reduce CO2 emissions in steel production. Using a hybrid technology and electric arc furnaces would allow CO2 emissions to be reduced by around 30% in a first step to 2030. Over the long term, the goal is to successively increase the share of green hydrogen used in steel production, arriving at carbon-neutral steel by 2050.”
    
    ResponsibleSteel is the first global certification initiative for sustainability in the steel industry. Certification required the entire location to be subjected to detailed examination by a third party, with the decision made by the independent certification body LRQA.
15. voda 16 november 2021 06:47

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    SAIL BSL Begins Trial of AI Based Predictive Monitoring System
    
    Strategic Research Institute
    Published on :
    16 Nov, 2021, 2:53 am
    
    Analytics India Magazine reported that Steel Authority of India Limited’s Bokaro Steel Plant recently began the trial of its Artificial Intelligence based Predictive Monitoring System. SAIL BSL has collaborated with Hyderabad-based MINTO AI for enhancing the predictive system. Under the following trial, current based smart sensors have been installed at equipment such as cold screen motor of Sinter Plant, rotation motor for material distribution in blast furnace and crane main hoist motors at Hot Strip Mill, which work on the Spidersense and an Industrial Internet on Things platform of MINTO AI.
    
    SAIL BSL Chief of Communication Mr Manikant Dhan said “A big leap has been achieved by BSL in the strategic direction of digital transformation with the beginning of trials of the Artificial Intelligence-based Predictive Monitoring System at various shops such as blast furnace, sinter plant and hot strip mill. These sensors use AI, deep process knowledge and physics to provide operational intelligence to plant engineers and operators which help in planning the maintenance based on predictive monitoring and alerts.”
16. voda 17 november 2021 06:31

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    Green Steel Inventor Prof Sahajwalla Named Australian of Year
    
    Strategic Research Institute
    Published on :
    17 Nov, 2021, 4:30 am
    
    University of New South Wales Sydney scientist, engineer and inventor Prof Veena Sahajwalla has been recognised for her pioneering research into waste, turning it into a new generation of green materials and products. NSW Premier Mr Dominic Perrottet presented Prof Veena Sahajwalla with the 2022 NSW Australian of the Year award. Founding director of the Centre for Sustainable Materials Research and Technology at University of New South Wales Sydney, Prof Sahajwalla is an internationally recognised materials scientist, engineer and inventor who has revolutionised recycling science. She also heads the new ARC Microrecycling Research Hub and the Australian governments new National Environmental Science Program's Sustainable Communities and Waste Hub. She is renowned for pioneering the high temperature transformation of waste in the production of a new generation of green materials.
    
    Prof Sahajwalla is renowned for her internationally commercialised EAF ‘green’ steelmaking process that is utilising millions of waste tyres otherwise destined for landfill as a partial replacement for coke. The conceptual and scientific breakthroughs that underpin ‘green steel’ have paved the way for an unparalleled portfolio of new ‘waste to value’ science, built over years of research at the SMaRT Centre, with valuable contributions from industry partners. This approach is enabling her to transform many of the world’s most challenging waste streams -like e-waste, automotive waste, batteries into value-added materials that can be redirected back into manufacturing.
    
    In 2018, Prof Sahajwalla launched the world's first e-waste microfactory and in 2019 she launched her plastics microfactory, a recycling technology breakthrough. In 2019, she was appointed inaugural Director of the Circular Economy Innovation Network by the NSW government through its Office of Chief Scientist and Engineer. In 2019, she was also honoured by Engineers Australia as a Centenary Hero for her work.
    
    Prof Sahajwalla was elected a Fellow of the Australian Academy of Science in 2018. In 2016, Engineers Australia named her one of Australia’s Most Innovative Engineers and in 2015, one of Australia’s 100 Most Influential Engineers. In 2013, Prof Sahajwalla received the Howe Memorial Lecture Award, Pittsburgh, USA, in appreciation for her lecture on ‘The Power of Steelmaking – harnessing high temperature reactions to transform waste into raw material resources’.
17. voda 17 november 2021 06:31

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    OYAK Update on CAPEX at Erdemir & Isdemir Steel Plants
    
    Strategic Research Institute
    Published on :
    17 Nov, 2021, 4:31 am
    
    Turkish steel maker OYAK Mining Metallurgy and continues its investments aligned for continuous development strategy.
    
    Erdemir Plants - Engineering, equipment manufacturing, and site installation works are ongoing in the 2 Blast Furnace Renovation Project. Site installation works continue in the No.6 Steam Boiler Project. Load tests continue in the New Wide Inspection and Recoiling Line Project. Equipment manufacturing and supply works continue for the Steel Shop BOF Converters Modernization Project and Surface Inspection Systems Project. Equipment supply and site activities continue for the Various Fire Detection and Extinguishing Systems Project. In the R&D Simulation Center Project, the Vacuum Induction Furnace and Sinter Pot Grate simulators have been commissioned. Transformer procurement works continue in the Energy Distribution System Additional Investments Project. Site works are ongoing in the Environmental Investments Projects. Engineering studies continue in the 4 Coke Oven Battery Project, 60 MW Turbo Generator Project and No 6 Turbo Blower Project. Detail engineering studies continue in Steel Shop Secondary Dust Collection System Capacity Improvement Project, Slab Furnace Modernization Project and Plate Mill Housing System Renewal Investment Project. Construction works continue in the Project of Slitting Line Transfer to ERSEM. Procurement activities continue for the New Sinter Plant Project, Structural Improvement of Erdemir Port Docks and 1 Galvanizing Line Level-1 Automation System Modernization Projects. Erdemir No 5 Coke Oven Battery Project has been initiated by the decision of the Board of Directors.
    
    Isdemir Plants - Commissioning studies continue within the scope of the New Coke Gas Gasometer Project. Cranes have been commissioned and remaining field studies are ongoing in the Steel Mill A-B Hall Extension and Overhead Crane Project. Procurement, manufacturing and field activities are ongoing within the scope of the Vacuum Degassing Plant and 3 Coke Oven Battery Modernization Projects. Engineering, purchasing processes, equipment supply, manufacturing, and site works continue in the 1 New Blast Furnace Project. Field activities continue within the scope of the and North Side Land Reclamation Projects. Procurement and manufacturing processes continue within the scope of the Boiler No 3 Retubing and Burner Modification Project. Engineering studies continue in the 1 Blast Furnace Top Recovery Turbine Project. Procurement activities continue in the New Sinter Plant Project and the Port-1 New Grab Ship Unloader Cranes Project.
    
    As of 30 September 2021, Group’s total investment expense amount is USD 288 million (30 September 2020: USD 216 million).
18. voda 17 november 2021 06:43

    auteur info

    • voda

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    Cedar Rapids City Approves Incentives for Alro Steel Warehouse
    
    Strategic Research Institute
    Published on :
    17 Nov, 2021, 4:34 am
    
    The Gazette reported that the Cedar Rapids City Council has approved city incentives for a USD 20 million, 199,200 square-foot office, warehouse and distribution building in Cedar Rapids in eastern Iowa being set up by Michigan-based Alro Steel Corp. The project qualifies under the city’s High Quality Jobs economic development program. Overall, the development is expected to create 40 jobs. The city agreed to standard incentives, providing a 10-year, 50 percent rebate of increased taxes generated by the project. The project is expected generate USD 5.2 million in total taxes over a 10-year period, with USD 1.9 million being rebated.
    
    City Economic Development Manager Caleb Mason said a development agreement finalizing incentives and project terms should come to the council for consideration in December or January.
19. voda 17 november 2021 06:44

    auteur info

    • voda

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    Federal Steel Supply Acquires Process Piping Materials
    
    Strategic Research Institute
    Published on :
    17 Nov, 2021, 4:36 am
    
    V&A Capital announce that its portfolio company Federal Steel Supply has acquired Process Piping Materials from its original founders, who will remain actively involved in the business. Based in Lafayette in Louisiana with distribution facilities in Hobbs in New Mexico and George West in Texas, PPM is a leading value-added distributor of industrial pipe, fittings, valves and flanges. The combined companies will be able to leverage each other’s technical knowledge while taking advantage of cross-selling and consolidated purchasing opportunities.
    
    Webster Business Credit Corporation, a subsidiary of Webster Bank NA, provided the financing to support the acquisition.
    
    V&A Capital seeks majority ownership in profitable, well-run companies in North America and Europe with an EBITDA ranging from USD 1 million to USD 10 million. Federal Steel Supply is one of the largest stocking distributors of carbon steel and chrome-moly tubular products in the United States.
20. voda 17 november 2021 06:44

    auteur info

    • voda

      Lid sinds: 02 dec 2005

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    GMS Market Commentary on Ship Breaking in Week 45
    
    Strategic Research Institute
    Published on :
    17 Nov, 2021, 4:36 am
    
    World's leading cash buyer of ships for recycling GMS said that “A few minor corrections were witnessed in the sub-continent markets this week, as fears start to emerge as to whether the markets have peaked yet or is there still some room for improvement in levels. In Turkey however, despite plate fundamentals being relatively unchanged and the Lira plummeting to new record-lows, vessel offerings have reportedly jumped significantly, by about USD 30/Ton this week. On the sub-continent end, Indian steel plate prices have collapsed in excess of USD 25/Ton over the course of the week, as the Alang market goes into a retreat. Pakistan was also no different, with a nearly USD 27/Ton drop of their own. However, Bangladesh managed to sustain a steady plate price through the course of the week. Overall, the Bangladeshi and Pakistani markets are also keeping a watchful eye on what is happening in India, as these alarming falls inevitably start to breed some form of contagion.”
    
    GMS said “Demand remains firm across all markets (especially in Turkey) and with very few serious ships working firm at present in order to satisfy growing local appetites even though prices continue to sustain themselves at exceptional levels, well above the USD 600/LDT for yet another week.”
    
    GMS added “Finally, as Chattogram Buyers continue to lead the way for another week, and as the year comes to an end, there are surely several more deals to be deals at these decade long highs.”
    
    GMS Pricing
    
    India/Bangladesh/Pakistan – Week 45, Weakened
    
    Dry Bulk – USD 560-600 per LDT
    
    Tankers - USD 570-610 per LDT
    
    Containers - USD 580-620 per LDT