ArcelorMittal LU1598757687

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1. voda 17 november 2021 06:45

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   Primetals Technologies Italy Sold to German Investor Callista
   
   Strategic Research Institute
   Published on :
   17 Nov, 2021, 4:37 am
   
   On October 29th, 2021 Primetals Technologies Ltd London (UK) entirely transferred its shares of Primetals Technologies Italy Srl Marnate Italy to Callista Private Equity GmbH, a financial investor with registered office in München in Germany. As part of the transaction Primetals Technologies Italy Srl will be renamed to POMINI Long Rolling Mills Srl. The intellectual property of Primetals Technologies Italy is entirely transferred to Pomini. This has been agreed with the intention to enable Primetals Technologies to continue benefiting from incorporating Pomini portfolio elements in contracts and to enable Pomini to maintain a sustainable business relationship with Primetals Technologies
   
   Primetals Technologies and Callista Private Equity have agreed to continue collaborating for certain types of long rolling mills, WinLink plants, and in the field of mini mills for long products on a project-by-project basis.
   
   Effective November 2021 Primetals Technologies will execute its in-house key product offerings for Long Rolling business under the lead of its two Centers of Competence
   
   1. CoC for Long Rolling Mills in Sutton, Massachusetts, USA, with the focus on wire rod mills, bar in coil lines, combination mills including wire rod, bar in coil and straight bar outlet, high speed rebar mills, non-ferrous rolling mills for copper, and aluminum mills.
   
   2. CoC for Electrics & Automation for Long Rolling Mills in Erlangen, Germany, supported by our regional entities in Poland, Russia, India, China, and the USA.
   
   In the future, the WinLink technology, that directly links a high-speed caster to a high availability rolling mill for long products, will be owned by Primetals Technologies alone and will be promoted out of Linz, Austria. Mini mills including long rolling mills and mini mills based on WinLink technology will be offered under the lead of Primetals Technologies Austria and will be executed with support from the CoCs for EAF & secondary metallurgy, dedusting, continuous casting, long rolling mills, and electrics & automation.
   
   To ensure Primetals Technologies’ long-term competitiveness in the challenging long rolling mill market sales, engineering, research and development, and project management for long rolling mills will be concentrated at Sutton in Massachusetts in USA.
2. voda 17 november 2021 06:54

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   Steel Minister & Gujarat CM Discuss Expansion of Steel Sector
   
   Strategic Research Institute
   Published on :
   17 Nov, 2021, 4:38 am
   
   India’s Union Minister of Steel Mr Ram Chandra Prasad Singh met with the Gujarat Chief Minister Mr Bhupendra Patel in Ahmedabad. Praising Gujarat's efforts, the Minister said that Gujarat is a model for the country in the field of agriculture and cooperative sector. He said Gujarat has not only implemented Central schemes fully but also started new schemes for the benefit of the agriculture sector. They have discussed expansion of steel sector in State of Gujarat.
   
   During this meeting senior officials of Steel Ministry, Chairman SAIL, CMD, NMDC and RINL along with Gujarat government officials were also present.
3. voda 17 november 2021 06:55

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   TMK Supplies Containers for Transportation of Steel to Severstal
   
   Strategic Research Institute
   Published on :
   17 Nov, 2021, 4:38 am
   
   Russian Pipe Metallurgical Company TMK’s subsidiary ETERNO has supplied Severstal with about 300 customized containers of a new heavy machine-building product line for transporting coiled steel. This is the first delivery of such products to the enterprise. The consignment includes 294 containers with a length of more than 6 meter, a width of about 2.5 meter and a height of 84 centimetres. Products manufactured in accordance with the requirements of the International Convention for Safe Containers are intended for the transportation of coiled steel on the railway network. The products represent a frame welded metal structure with movable supports and elements for fastening to a railway platform.
   
   The creation of new high-tech products for the production and transportation of steel allows TMK to expand our portfolio of orders and enter new markets. TMK's portfolio includes several dozen implemented engineering solutions for the metallurgical industry.
4. voda 17 november 2021 06:55

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   Daniele Automation to Modernize Control Systems at Gerdau Cosigua
   
   Strategic Research Institute
   Published on :
   17 Nov, 2021, 4:39 am
   
   Brazil-based steel producer Gerdau awarded Danieli Automation/DIGI&MET the orders for the modernization of the core functions of the automation control systems of billet caster 2, rolling mill 1 and rolling mill 3 operating in its Cosigua unit in Brazil’s Rio de Janeiro state, supplied by Danieli. There, about 1 million tonne per year of long products are produced overall.
   
   The new automation system for the six-strand billet caster, which now will integrate also the logic for the cooling bed, is the first of three orders awarded in a row. Prewired and pre-tested automation panels will be designed to minimize wiring and installation, maintaining most of the cables already in place. The run-out control will be performed using single-billet laser position sensors for billet length accuracy. A new, ergonomic main control desk, 3Q HMI system and local boxes will be provided to support user activities during on-field operations.
   
   The second order is to revamp automation for rolling mill #1, which produces small profiles and rebar, focusing on modernization of the mill speed master control, including new hardware. All HMI screens will be redesigned as per Danieli Automation 3Q standard. A Danieli Automation exclusive technological workstation will handle mill know-how settings and the automatic interaction with the entire rolling mill through the master control.
   
   In addition to mill speed master control and technological workstation, as for rolling mill #1, the modernization of rolling mill #3 –which produces straight bars– includes the upgrade of the auxiliary services and shear controls, along with the supply of new Pulpit and 3Q-HMI control desk and 3Q HMI.
   
   The original equipment supplied by Danieli Automation to Gerdau’s Cosigua unit has been operating for more than 20 years.
5. voda 17 november 2021 06:56

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   Linde India Divests Bellary Oxygen Company ASU to JSW Steel
   
   Strategic Research Institute
   Published on :
   17 Nov, 2021, 4:40 am
   
   Industrial gases major Linde India announced that it has concluded the sale of its oxygen-making joint venture to JSW Steel. In view of the expiry of the gas supply contract with JSW Steel Ltd on 14 November 2021, Bellary Oxygen Company Private Ltd has signed and executed the Asset Sale Agreement with JSW Steel Ltd. and has received the consideration amount of INR 50 crores for the transaction. The joint venture company has since handed over the possession of the 855 tpd ASU and other related assets to JSW Steel Ltd as of 15 November 2021. The deal sees Linde divest the Bellary Oxygen Company, which houses an 855 tonnes per day air separation unit and other related assets to JSW
   
   Linde India, a member of Linde Plc, owns and operates the sub-continent‘s largest air separation plant, and runs over 20 production facilities and filling stations across India. The company supplies a wide variety of gases and mixtures. Its engineering division designs and builds nitrogen plants, hydrogen pressure swing adsorption plants, compressed air systems and gas distribution systems.
6. voda 17 november 2021 06:56

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   AUS to Provide Drone Based Solutions to Tata Steel
   
   Strategic Research Institute
   Published on :
   17 Nov, 2021, 4:41 am
   
   Bengaluru based leading drone solution start up Aarav Unmanned Systems has been awarded multiple long term contracts from various business verticals of Tata Steel to provide advanced drone-based enterprise solutions. AUS’s drones are expected to help Tata Steel operate their mines more effectively and enhance productivity, besides ensuring higher regulatory fulfilment and safety. AUS’s drone solution is helping the Projects team of Tata Steel to map the progress of the upcoming Kalinganagar Expansion Plant in Odisha. The integrated steel complex will be the largest in India with a capacity of 8 million tonnes.
   
   In another contract from the Tata Steel Corporate Audit team, AUS has signed a Two-year rate contract to carry out drone-based physical verification of bulk inventory at all the 23 locations across multiple Tata Steel entities. For the Natural Resources Division of Tata Steel, AUS will carry out monthly drone surveys of the mining leases of Tata Steel Ltd and deliver advanced Mine Analysis. Tata Steel Ltd also signed a contract with AUS to procure three survey-grade Drones for serving internal survey requirements and R&D applications.
   
   AUS & Tata Steel acquired exemptions for drone operations from the Ministry of Civil Aviation for One year across all the 23 mines, plant, and raw material locations. DGCA has approved AUS’s SOP for One year to operate drones at Tata Steel entities. This will ensure that all the operations for Tata Steel will be carried out with 100% regulatory compliance.
7. voda 17 november 2021 06:56

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   JSPL’s Steel Production in October 2021 Surges by 7% YoY
   
   Strategic Research Institute
   Published on :
   17 Nov, 2021, 4:42 am
   
   India's leading steel company Jindal Steel & Power Limited has increased its steel production by 7% YoY to 0.624 million tonnes in October 2021 compared to 0.585 million tonnes during the same period in the previous year.
   
   However, JSPL's Steel Sales observed a 1% YoY dip at 0.593 million tonnes in October 2021 as compared to 0.6 million tonnes in October 2020. Sales growth lagged production during the month due to lack of rake availability, as the government focused on supplying thermal coal to power plants. Exports accounted for 23% of sales volumes as the Company prioritised domestic demand.
8. voda 17 november 2021 07:06

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   Indian Steel Consumption Seen Rising to 160 MT by 2024-25
   
   Strategic Research Institute
   Published on :
   17 Nov, 2021, 4:43 am
   
   A meeting of the Consultative Committee of the Members of Parliament for the Ministry of Steel was held at Kevadiya in District Narmada in Gujarat on the subject “Steel Usage”. The meeting was chaired by the Minister of Steel Mr Ram Chandra Prasad Singh. During the financial year 2020-21, the total finished steel consumption in the country was 96.2 million tonnes and is expected to reach about 160 million tonnes by 2024-25 and about 250 million tonnes by 2030-31. Indian Government is continuously making efforts to enhance steel production capacity domestically and at the same time increase domestic demand and usage of steel. Construction and Infrastructure sectors are major consumers of steel and will continuously be the driver of increased consumption of steel.
   
   Minister also said that steel has been playing an important role in the industrial development of India, as it is a key input for critical sectors such as Infrastructure, Construction, Engineering & Packaging, Automobile and Defence.
9. voda 17 november 2021 07:06

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   Egypt Withdraws Safeguard Duty on Billet & Rebar Imports
   
   Strategic Research Institute
   Published on :
   17 Nov, 2021, 4:44 am
   
   Egypt's Ministry of Trade and Industry has revoked the 25% and 15% safeguard duties on imports of rebar and billet respectively effective November 15. The measure was imposed in April 2019 and had been due to lapse in April 2022. Egypt’s Trade & Industry Minister Ms Nevine Gamea announced the ministerial decree to suspend the measure, under resolution No 907 of 2019, effective following the date of its publication in the official Egyptian Gazette. Ms Gamea said "The decision aims to support the industrial sectors when there is a significant rise in energy prices, freight and raw materials, in addition to global-scale high inflation. These all negatively impact Egypt's production and export sectors, stressing the ministry's keenness to support all industrial sectors, especially since the industry sector represents a major locomotive for the national economy."
   
   The removal of safeguard duties is expected to lead to a recovery of import volumes of the products concerned, particularly billet. Local long steel producers had been voicing complaints about the shortage of the material in the country,
   
   On 31 March 2019, the Egyptian Minister of Trade & Industry initiated a safeguard investigation on imports of semi-finished products of iron or non-alloy steel and steel rebar. The products subject to investigation are classified under HS codes: 7207, 7213 and 7214. This follows the application lodged by the domestic industry. On 15 April 2019, the Egyptian authorities imposed a provisional safeguard duty on imports of the subject good. The rate of duty on imports of semi-finished products of iron or non-alloy steel (HS code 7207) was up to 15% of the CIF value. The rate of duty on imports of certain bars, coils and rods of iron or non-alloy steel (HS code 7213 and 7214) was 25% of the CIF value. The duty was in force for a period of 180 days. On 12 October 2019, the Egyptian authorities imposed a definitive safeguard duty.
10. voda 17 november 2021 07:07

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    Global Steel’s Carbon Emissions May Have Peaked in 2020 - IEEFA
    
    Strategic Research Institute
    Published on :
    17 Nov, 2021, 4:45 am
    
    The Institute for Energy Economics and Financial Analysis said that the latest data from China’s National Bureau of Statistics shows that the country’s monthly crude steel production dropped to a nearly four-year low in October 2021 at 71.6 million tonnes. For the first ten months of 2021, China’s crude steel output is now down 0.7%, the first decline in year-to-date output for at least five years. The policy of keeping production below the previous year’s level may continue into the foreseeable future with implication that steel output will never reach 2020 levels again and it’s possible that Chinese steel production and hence China’s steel sector carbon emissions peaked in 2020. However, even under its net zero emission 2050 scenario the International Energy Agency foresees global steel production rising over the next few decades as the fall in China’s production will be offset by rises in production in developing markets such as India, South-east Asia and Africa as their economies continue to emerge.
    
    Meanwhile, there is unlikely to be significant, long-term steel production growth in developed markets where technology changes will help reduce steel sector emissions. US produce about 70% of its steel from recycled scrap, making steel a relatively low emissions intensity sector. EAFs are powered by electricity and further roll-out of wind and solar power will assist the emissions intensity decline still more in the long term. Meanwhile, Europe is set to lead the world in the transition to new, low-emissions steel manufacturing technology such as direct reduced iron facilities that use green hydrogen. How global steel emissions change over those decades will depend to a large extent on the steel technology pathway these developing nations choose in the near term.
    
    India is currently the world’s second-largest steel producer, manufacturing 5% of global production, far behind China’s output. However, the IEA notes this could increase to almost 20% by 2050. Thanks to plentiful domestic thermal coal and a dearth of coking coal, India is already a major user of globally-lesser-used DRI technology where gasified thermal coal can produce the carbon monoxide and hydrogen used as the iron ore reductants. India’s iron and steel sector is responsible for almost a third of India’s direct industrial emissions. Small production facilities and low utilisation of scrap steel contribute to the higher-than-average carbon emissions intensity of the Indian steel sector in addition to its high reliance on coal in both DRI and blast furnace production pathways. There is potential to reduce emissions from India’s DRI steel plants by replacing gasified coal with green hydrogen as it becomes cost-competitive. India was one of five nations that pledged recently to drive demand for low-carbon steel under the Industrial Deep Decarbonisation Initiative.
    
    However, India’s steel emissions pathway will depend to a large extent on how far blast furnace additions go as its economy continues to expand. To date, there has been no industrial-scale carbon capture projects announced that could lower blast furnace emissions.

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11. voda 17 november 2021 11:08

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    Advies van Citigroup over Arcelor Mittal
    Beurshuis Citigroup
    Aandeel ArcelorMittal
    Datum 17 november 2021
    Advies Kopen
    Koersdoel 52,00 EUR
    
    Detail advies
    (Trivano.com) - Op 17 november 2021 hebben de analisten van Citigroup hun beleggingsadvies voor ArcelorMittal (MT; ISIN: LU1598757687) herhaald. Het advies van Citigroup voor ArcelorMittal blijft "kopen".
    
    Het koersdoel wordt door de analisten verhoogd van 50,00 EUR naar 52,00 EUR.
    
    Op 4 november 2021 publiceerde ArcelorMittal kwartaalcijfers.
12. voda 17 november 2021 15:56

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    ArcelorMittal van start met nieuwe aandeleninkoop
    Na afronding oude programma.
    
    (ABM FN-Dow Jones) ArcelorMittal is begonnen met zijn nieuwe aandeleninkoopprogramma ter waarde van 1 miljard euro, nadat het vierde programma op 16 november werd afgerond. Dat maakte het staalbedrijf woensdagmiddag bekend.
    
    Onder het afgeronde programma, dat werd goedgekeurd tijdens de jaarvergadering van 8 juni, werden 67,4 miljoen eigen aandelen ingekocht voor 1,88 miljard euro.
    
    Bij de derdekwartaalcijfers voegde ArcelorMittal 1 miljard dollar toe aan zijn inkoopprogramma. Dit vandaag gestarte programma zal naar verwachting in februari volgend jaar zijn voltooid.
    
    Door: ABM Financial News.
    
    info@abmfn.nl
    
    Redactie: +31(0)20 26 28 999
13. voda 18 november 2021 06:52

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    BlueScope Confirms Earnings Guidance
    
    Strategic Research Institute
    Published on :
    18 Nov, 2021, 4:48 am
    
    Australian steel maker BlueScope confirmed its previous guidance at its Annual General Meeting that 1H FY2022 underlying earnings before interest and tax will be in the range of AUD 2.1 billion to AU 2.3 billion, subject to spread, FX and market conditions. Global steel prices, spreads and demand across key geographies have been strong, with favourable conditions in building and construction end use segments. Managing Director & CEO Ms Mark Vassella said “While BlueScope has seen favourable macroeconomic and industry trends over the last year, the Company's record FY2021 performance and robust financial position reflect the success of our strategy at work and is a testament to the contribution of our 14,000 people, our disciplined financial framework and the operating leverage of our diverse portfolio."
    
    Australian Steel Products
    
    The business is expected to deliver a significantly better result than 2H FY2021, with strength in domestic volumes, particularly in higher value products for the building and construction sector, and strong realised steel spreads. Margins and volumes in the downstream businesses are also benefitting from the robust demand environment. A stronger export coke contribution is expected with margins remaining robust. The assessment of the reline of the currently mothballed No. 6 Blast Furnace at Port Kembla is continuing -including refining the scope of included technologies that support GHG emissions intensity reductions and other environmental measures such as water and particulate emissions management controls. A further update will be provided at the release of BlueScope's 1H FY2022 results in February 2022.
    
    North Star BlueScope Steel
    
    North Star is expected to deliver a significantly stronger result than 2H FY2021 driven by record steel pricing and spreads1 - modestly impacted by higher alloy and conversion costs, including labour. More recently, benchmark Midwest hot rolled coil prices have begun to ease back from record levels. The business continues to perform well and has been operating at full capacity as sales volumes to construction, manufacturing and automotive end use applications remain solid. Importantly, the major expansion of North Star is on track for commissioning in 2H FY2022.
    
    Building Products Asia and North America
    
    The segment is expected to deliver a stronger result compared to 2H FY2021. The North America coated products business continues to see cyclically-elevated margins and the China businesses are benefitting from favourable seasonality. These stronger performances are being modestly offset by the impacts of COVID-19 related disruptions across South East Asia - particularly in Malaysia, Vietnam and Indonesia.
    
    Buildings North America
    
    A similar result to 2H FY2021 is expected, with a softer performance from the core EBS business on margin compression due to higher steel feed prices to be offset by a stronger contribution from the BlueScope Properties Group on project timing.
    
    New Zealand and Pacific Islands
    
    The robust demand and pricing environment across construction and infrastructure sectors is expected to deliver a stronger result compared to 2H FY2021, notwithstanding supply-chain COVID-19 related disruptions during the half.
14. voda 18 november 2021 06:52

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    Severstal Update on Clean Air Project at Cherepovets
    
    Strategic Research Institute
    Published on :
    18 Nov, 2021, 4:52 am
    
    Russian steel giant Severstal has summed up its environmental work for the period from 2018 to 9 months of 2021. Severstal Russian Steel CEO Mr Evgeny Vinogradov said “The Company systematically and in accordance with the chosen strategy reduces the environmental burden in the regions of its presence. Through the implementation of measures included in the federal project Clean Air for 2018-2020 emissions of pollutants from the Cherepovets Metallurgical Enterprise were reduced by 35.9 thousand tons, which is more than 12% of the level of emissions in 2017. During these years, 13 activities were carried out within the framework of the project, most of them in coke oven and steel-making industries continue. Costs for the implementation of activities for the period from 2018 and including 9 months amounted to RUB 7.1 billion.”
    
    Severstal intends to achieve the main goal of the large program of measures of the Clean Air project, within the framework of which the company's emissions will be reduced by 66.8 thousand tons by 2025 at CherMK, i.e. by 22.5% of the company's emissions in 2017
    
    At present, CherMK is completing the reconstruction of the solid fuel preparation unit in sinter shop No 3, stage-by-stage replacement of electrostatic precipitators of the aspiration air purification system in sinter shop No 3 is being carried out.
    
    In addition, according to the results of the work of CherMK for 9 months of 2021, it was possible to reduce the discharge of pollutants into water bodies by 14.5% compared to the same period last year. The decrease was achieved due to the implementation of measures for the technical reorganization of the water supply and wastewater disposal system of crushing and screening plants No 4 and 5. The volume of disposed waste was significantly reduced by 35.3% due to an increase in the sale and disposal of blast furnace sludge, an increase in soil utilization, and the processing of reinforced concrete waste by the company's scrap-processing asset, OOO Severstal-Vtorchermet.
15. voda 18 november 2021 06:53

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    Salzgitter Reports Strong Earnings in 9 Months of 2021
    
    Strategic Research Institute
    Published on :
    18 Nov, 2021, 4:56 am
    
    German Salzgitter Group recorded a profit before taxes of EUR 604.5 million in the first nine months of the 2021 financial year. The main driver for this was the dynamic rise in sales well into August, which primarily had an impact on the results of the Strip Steel and Trading business units. The latter achieved the highest quarterly and nine-month results in its history. The investment in Aurubis AG once again made a very positive contribution to earnings. Salzgitter AG CEO Mr Gunnar Groebler said “The excellent results for the first nine months of the 2021 financial year underscore the productivity of the Salzgitter Group. Despite all the joy and pride in this, we must not forget that we can expect the business situation to normalize in the coming months due to the disruptions in the supply chains and the usual seasonality at the end of the year. This is one of the reasons why it is essential to consistently drive the further development of the group.”
    
    The external sales of the Salzgitter Group improved to EUR 7,001.7 million, primarily as a result of the positive development in rolled steel prices, and were thus noticeably above the comparative figure for the same period of the previous year (9M 2020: EUR 5,264.3 million). The pre-tax profit of EUR 604.5 million (9M 2020: minus EUR 224.4 million). The profit after taxes amounted to EUR 467.7 million (9M 2020: minus EUR 243.0 million).
    
    Outlook - Supply chain disruptions and their effects have also affected some of our Group companies since the end of the summer quarter. Nevertheless, Salzgitter Group continues to expect following in 2021 financial year
    
    Turnover that has increased to more than EUR 9 billion,
    
    Pre-tax profit of between EUR 600 million and EUR 700 million.
16. voda 18 november 2021 06:58

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    MMK Inks Cooperation Agreement with Turkish Coskunoz Holding
    
    Strategic Research Institute
    Published on :
    18 Nov, 2021, 4:58 am
    
    Russian steel maker Magnitogorsk Iron & Steel Works has signed an agreement of intent and cooperation with Turkey’s Coskunoz Holding Group. The agreement opens new opportunities for the companies’ collaboration in both Turkey and Russia, providing opportunities for the development of hot stamping production in Russia, as well as for the implementation of joint engineering research and work on prototyping of stamped products from new generation steel, developed by MMK. Cooperation between the companies will strengthen the position of both parties in the Russian market.
    
    MMK and Coskunoz already have a successful joint business in Russia: the Service Metal Centre of MMK-Coskunoz-Alabuga LLC operates on Alabuga Special Economic Zone territory in the Republic of Tatarstan. Launched in May 2018, the plant produces steel billets blanks used in creating components for cars and appliances. MMK-Coskunoz-Alabuga LLC is a successful example of business integration at all stages of the production process: from raw material production to finished product output and steel localisation in Russia.
    
    Coskunoz Holding combines 13 companies in the automotive, defence and aviation, ecology, information technology and logistics sectors. The Company invests abroad to increase its global presence. In addition to Turkey and Russia, the Company produces automotive components in Romania. To date, Coskunoz has invested a total of EUR 60 million in the Russian economy and plans to make EUR 15 million worth of additional investments by the end of 2022.
17. voda 18 november 2021 06:59

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    Hadeed to Supply Steel to Red Sea Development Company
    
    Strategic Research Institute
    Published on :
    18 Nov, 2021, 5:00 am
    
    SABIC affiliate Saudi steel maker Hadeed and The Red Sea Development Company have signed a Memorandum of Understanding to initiate discussions on the possibility of steel supplies and solutions for the Red Sea project and to set a framework for knowledge exchange. The MoU sets the foundation for a mutually beneficial relationship related to sustainable and advanced steel products and solutions, and to drive the implementation of best practices in the building and construction sector.
    
    SABIC Vice Chairman & CEO Mr Yousef Al-Benyan said “We are truly happy to be associated with the Red Sea Development Company and its ambitious tourism project. We have been part of Saudi Arabia’s industrialization and economic development for decades, and Hadeed has contributed considerably to the country’s construction evolution. With the latest MoU, we have demonstrated our continued commitment to the Kingdom’s rapid transformation and our constant efforts to promote its diverse economic development as envisioned in Vision 2030.”
    
    The Red Sea Project is described as unique, luxury tourism destination that will embrace nature, culture and adventure, setting new standards in sustainable development and positioning Saudi Arabia on the global tourism map.
18. voda 18 november 2021 07:00

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    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 25 apr 2024

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    POSCO’s 9% Nickel Plates Secure KOGAS Quality Certification
    
    Strategic Research Institute
    Published on :
    18 Nov, 2021, 5:11 am
    
    Korea Times reported that POSCO has received quality certification from the Korea Gas Corp for its world's widest 9 percent nickel steel used to build liquefied natural gas storage tanks. POSCO obtained the certification after becoming the first phase supplier for KOGAS's Dangjin LNG base construction project, and as such is able to supply all steel products necessary for the production of LNG storage tanks. Posco has expanded the thickness to 45mm and also passed a quality certification test for the world's largest product at 4.5 meters wide securing competitiveness in both the domestic and overseas LNG procurement market.
    
    Nine percent nickel steel is a heavy plate product used for the inner tank of LNG storage tanks, and the thickness and width is critical in strengthening seismic resistance for safety as well as to increase economic efficiency and productivity. This form of nickel steel is a high value-added product that can endure temperatures as low as minus 162 degrees. The general thickness of other steelmaker's heavy plate products is 6mm or more, but POSCO can produce similarly effective plates from 5mm, upping its competitiveness.
    
    The Dangjin LNG base will ensure a stable supply of natural gas in accordance with the government's energy conversion policy. Ten LNG storage tanks are scheduled to be constructed. In the first phase, four 270,000 kiloliter storage tanks will be constructed which requires around 3,300 tons of 9 percent nickel steel per unit 270,000 kiloliters is equivalent to the daily gas consumption of country in one month. The first phase of the Dangjin LNG base features strengthened safety and applied special seismic-grade design, which is a higher grade than existing LNG storage bases currently under construction.
19. voda 18 november 2021 07:01

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    • voda

      Lid sinds: 02 dec 2005

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    MOIL Wokers Sign 10 Year Wage Agreement
    
    Strategic Research Institute
    Published on :
    18 Nov, 2021, 5:14 am
    
    In a major development, tripartite settlement for wage revision of Manganese Ore India Ltd workers was signed between management of MOIL and the representatives of the recognized union, in presence of Chief Labour Commissioner, Government of India. This wage revision is for 10 years’ duration w.e.f 01.08.2017 up to 31.07.2027, benefitting close to 6,000 company employees. It is based on an MOU arrived at between management and recognized union MOIL KamgarSanghatan. The proposal includes fitment benefit of 20% and perks & allowances at the rate of 20%. An Interim relief at 12% of Basic and DA was given by the company w.e.f May, 2019.
    
    The company will be making the arrears payment in one go, which will have a financial impact of Rs.218 crores approximately for the period it is due i.e. from 1st August, 2017 to 30th September, 2021. The total financial impact of the proposed wage revision will be about INR 87 crores per annum.
    
    The agreement also specifies that the settlement will be implemented within 60 days of signing of the same.
20. voda 18 november 2021 07:04

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    • voda

      Lid sinds: 02 dec 2005

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    NLMK & Rosenergoatom Ink Strategic Pact in Energy Sector
    
    Strategic Research Institute
    Published on :
    18 Nov, 2021, 5:17 am
    
    Russian steel maker NLMK and one of the largest Russian enterprises in the electric power industry Rosenergoatom Concern have signed an agreement on cooperation in the supply of low-carbon electricity. The agreement provides for various formats of cooperation, including the conclusion of bilateral contracts for the sale and purchase of electricity (capacity) and joint work in the demand management market (Demand Response or change in energy consumption depending on the load level in the power system and electricity prices). The agreement also provides for the possibility of supplying low-carbon energy from power plants of Rosenergoatom Concern for a new mining and metallurgical production at the Stoilensky GOK site, which is being developed by NLMK Group.
    
    Increasing the use of low-carbon energy sources is one of the priorities for NLMK Group to reduce the carbon intensity of production and reduce greenhouse gas emissions. Nuclear energy is one of the main instruments of decarbonization, now it accounts for a third of all low-carbon electricity production in the world.
    
    The signed agreement is a continuation of the cooperation between the companies, which began in 2021, in the field of low-carbon energy supply and demand management. Thus, in 2021, the supply of electricity from nuclear power plants to NLMK Group will amount to about 3 billion kWh.
    
    Rosenergoatom Concern is the largest division of Rosatom. The Concern is the largest generating company in Russia and the second largest in the world in terms of nuclear generating capacity. It includes all 11 nuclear power plants in Russia, including the unique Floating Nuclear Thermal Power Plant (FNPP). In total, 38 power units with a total installed capacity of 30.345 GW are in operation at Russian NPPs. At present, nuclear power supplies over 19% of the country's energy needs. At the end of 2019, Rosenergoatom became the leader in electricity production in the Russian Federation, with a record 208.7 billion kWh of annual output.