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HK Steel Trader Secures Export Facility from Tradewind Finance

Strategic Research Institute
Published on :
25 Nov, 2021, 5:08 am

Hong Kong based Tradewind Finance has closed a USD 20 million export factoring facility for a steel trading company based in Hong Kong. The facility, in addition to the steel trader's significant existing borrowing facilities, will be used to support the company's growing international trade requirements, primarily to the US and Europe and upcoming trade deals based in South America and Southeast Asia. Tradewind's scalable financing solutions will allow the company to pursue large, international orders

The Hong Kong-based company, established 15 years ago, maintains local trading offices in major cities across the world and provides a variety of high-quality steel products and solutions for application across various industries. The company considered availing non-collateralized, trade-based facilities with Tradewind when it was suddenly faced with buyer payment extension requests and a surge in orders from both new and existing relationships.
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Tsingshan’s Dinson Iron & Steel Secures Environmental Approval

Strategic Research Institute
Published on :
25 Nov, 2021, 5:14 am

The Herald reported that Zimbawe’s Environment Management Authority granted approval to Chinese nickel and steel producer Tsingshan Holding Group’s subsidiary Dinson Iron and Steel Company to start operations of its mining & steel making project in Selous in Mashonaland West province in Zimbabwe. After getting the Environment Impact Assessment from Environment Management Authority, the company has moved to start operations with the objective of eliminating any harmful impact, not only on the environment but also on the people. The project includes an iron ore mine, coke ovens, ferrochrome plant and steel plant of 1.2 million tonnes capacity and is expected to generate USD 1.5 billion turnovers with commissioning scheduled by December 2022. A new town will be created between Mvuma-Chivhu and Manhize of Zimbabwe

Dinson has undertaken to pre-finance the construction of the line, in case Zimbabwe Electricity Supply Authority does not have the capacity to do so and finalising a Transmission Connection Agreement with them.
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US DOC Determines AD Duty Rate for HR Imports from Japan

Strategic Research Institute
Published on :
25 Nov, 2021, 5:11 am

US Department of Commerce preliminarily determined that Nippon Steel Corporation from Japan, sold subject merchandise in the United States at prices below normal value during the period of review October 1, 2019, through September 30, 2020. In addition, Commerce preliminarily determined that Honda Trading Canada Inc (Honda) and Mitsui & Co Ltd had no shipments during the POR. In this review, US Department of Commerce preliminarily calculated a weighted-average dumping margin for NSC that is not zero, de minimis, or determined entirely on the basis of facts available. Accordingly, US Department of Commerce preliminarily has assigned to companies not individually examined a margin of 26.81 percent, which is Nippon Steel Corporation's calculated weighted-average dumping margin.

US Department of Commerce is conducting an administrative review of the antidumping duty order on hot-rolled steel from Japan. US Department of Commerce initiated this administrative review on December 8, 2020 covering twenty-nine producers and/or exporters. US Department of Commerce selected Nippon Steel Corporation as mandatory respondent.

We preliminarily determine the following weighted-average dumping margins for the period October 1, 2019, through September 30, 2020:
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Thyssenkrupp Reports Improved Financials for Fiscal Year

Strategic Research Institute
Published on :
25 Nov, 2021, 5:16 am

From October 2020 to September 2021, thyssenkrupp group of companies recorded incoming orders of a total of EUR 39.6 billion, which corresponds to an increase of 41 percent. Sales improved by 18 percent to EUR 34.0 billion. Adjusted EBIT rose to EUR 796 million (previous year: EUR minus 1,759 million). All segments contributed to this positive development with, in some cases, significant improvements in earnings. The materials businesses in particular benefited from rising sales volumes and prices. Accordingly, thyssenkrupp was able to meet the earnings forecast raised in May at the upper end of the range. thyssenkrupp AG CEO Ms Martina Merz said “After a good two years of intensive transformation, we can say today: the trend reversal is recognizable, things are going in the right direction at thyssenkrupp. Our performance improves significantly, which is also reflected in the numbers. We want to take this momentum with us into the next phase of our transformation in order to grow profitably in our businesses again. Nevertheless, there are still major challenges, particularly due to the semiconductor shortage and the uncertainties due to the corona pandemic."

Against the background of the macroeconomic recovery and the further expected structural improvement in business, thyssenkrupp is generally confident about the current financial year 2021/2022 . Uncertainties, and thus only limited reliable planning, exist in particular with regard to the further development of delivery bottlenecks for semiconductors and other preliminary products. This will lead to temporary burdens in the current financial year. The Group's sales are expected to grow in a mid-single-digit percentage range for the entire 2021/2022 financial year. The adjusted EBIT is to be roughly doubled compared to the previous year to a value between EUR 1.5 and 1.8 billion. This takes into account a significant improvement in earnings at Steel Europe and a significantly lower loss at Multi Tracks. For the net income ThyssenKrupp expects a value of at least EUR 1 billion, the highest net income since fiscal year 2007/2008. With further payments for restructuring and retention of the current high capital expenditure in the future topics of thyssenkrupp, a significant increase in the area of balanced value is forecast for the free cash flow before M&A.

As announced, thyssenkrupp made important decisions in the Multi Tracks segment in the past fiscal year and thus continued to focus its portfolio. The sale of the mining business was signed in July, followed by the sale of infrastructure shortly afterwards. The Carbon Components division was sold in August. Thyssenkrupp last agreed to sell the Italian AST stainless steel plant in mid-September. As a further portfolio measure, the heavy plate plant in Duisburg was closed as planned at the end of the past financial year.

At Uhde Chlorine Engineers, thyssenkrupp sees great potential in the area of ??water electrolysis and wants to benefit from the strong demand for green hydrogen. The company is therefore intensively examining how the hydrogen business can be further developed in the best possible way. Thyssenkrupp is currently planning an IPO as a preferred solution. In any case, thyssenkrupp would retain a majority in the business.

In addition to making targeted investments to improve the competitiveness of its businesses, thyssenkrupp has also made further progress with the necessary adjustment in employment. Of the more than 12,000 jobs announced by fiscal year 2023/2024, thyssenkrupp has cut around 7,800 jobs in a socially responsible manner in the past two fiscal years. Many employees were able to find new jobs.

Steel Europe increased incoming orders and sales significantly by 31 and 27 percent, respectively, compared to the previous year, which was weak due to the pandemic. Adjusted EBIT improved to EUR 116 million (previous year: EUR minus 820 million). The revival in demand combined with rising market prices and the performance measures introduced in the course of implementing the steel strategy 20-30 had a positive impact. By the end of the past financial year, more than half of the planned reduction of 3,750 jobs at Steel Europe by 2026 had been managed in a socially responsible manner. On the other hand, the sharp rise in raw material costs and temporary restrictions in production had a dampening effect - mainly due to the need to reload blast furnace 1 in Duisburg.

Thyssenkrupp is still convinced that an independent structure will open up the best possible future prospects for Steel Europe. However, making the steel division independent is a very complex project that is economically challenging and characterized by numerous imponderables. A final decision depends on a large number of factors, including external ones. Among other things, planning security is required for the regulatory framework, especially with regard to the green transformation. In addition to preparing the usual carve-out topics, thyssenkrupp is conducting a feasibility study to determine the conditions under which the steel division can become independent.
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JSW Steel’s Piomino Steel Acquires West Waves Maritime

Strategic Research Institute
Published on :
25 Nov, 2021, 5:19 am

JSW Steel announced that it has acquired West Waves Maritime & Allied Services Pvt Ltd for a consideration of INR 30.67 lakh. The acquisition was done by JSW steel’s subsidiary Piombino Steel Ltd from JSW Steel’s promoter group individual wholly-owned Magnificient Merchandise and Advisory services Pvt Ltd. Post the acquisition, West Waves Maritime & Allied Services is now a wholly owned subsidiary of Piombino Steel and a step- down subsidiary of JSW Steel. West Waves Maritime & Allied Services is engaged in port and maritime services and trading of coal and steel products. Incorporated in 2014, the company reported an annual turnover of INR 9.91 crore in FY20-21.

As per the company’s disclosure, the acquisition has been done to reorganize and eliminate the intercompany loans and to simplify the group corporate structure for the sake of better administration.

Piombino Steel had availed financial assistance from West Waves Maritime & Allied Services Private Limited for completing the acquisition of the Bhushion Power & Steel Limited. Now, in order to reorganise, eliminate the intercompany loans and simplify the group corporate structure for better administration, Piombino Steel has today acquired the entire equity shareholding of West Waves Maritime & Allied Service from Magnificient Merchandise and Advisory Services Private Limited.
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Tata Steel OMQ Commissions Iron Ore Processing Plant in Odisha

Strategic Research Institute
Published on :
25 Nov, 2021, 5:21 am

Tata Steel’s Ores, Mines & Quarries Division has set up 8 million tonne per annum crushing and washing plant at its captive Khondbond Iron and Manganese Mine near Joda in Keonjhar district of Odisha. The iron ore processing plant will cater to the rapidly growing raw material requirements of Tata Steel and will provide raw material security. The modern facility incorporates latest technology for ore processing, enabling efficient resource usage and reduced wastage. The plant design includes three stage crushing and screening. To reduce the inherent alumina from the ore, two rotary drum scrubbers have been installed which can reduce the alumina of the incoming ore, thereby improving the ore quality

The slurry from the scrubbing screens is processed through hydro-cyclone clusters, maximising ore recovery and reducing wastage. The overflow from the hydro-cyclone is fed to a high rate settling thickener which facilitates recovery of process water from the slime. To further minimise wastage of water, the water recovered from the thickener is recycled back in the plant for recirculation, minimising the requirement of makeup water for plant operation.

In-plant rainwater harvesting reservoir has also been created to store and reuse the rainwater runoff from the hill slopes for dust suppression, plant operations and ground water charging in and around Khondbond. A paste thickener facility is also being set-up within the premises for further improving the recovery of water. The plant is equipped with Dry fog dust suppression system and water sprinklers for controlling fugitive dust emissions within the product stockpiles.
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SAIL, Tata Steel & NMDC Iron Ore Mines Receive Awards

Strategic Research Institute
Published on :
25 Nov, 2021, 5:24 am

At an award ceremony during the 5th National Conclave on Mines & Minerals in New Delhi, India’s Ministry of Mines has conferred various awards to iron ore mines of Steel Authority of India Limited, Tata Steel & NMC Ltd. The awards were given by the Union Minister for Coal, Mines and Parliamentary Affairs, Government of India Mr Pralhad Joshi.

Steel Authority of India Limited’s Kiriburu Iron Ore Mines and Meghahatuburu Iron Ore Mines received 5 Star Rating Awards for sustainable mining practices and all round performance in the Iron Ore category. SAIL’s Kiriburu Iron Ore Mines was awarded for the year 2017-18 and 2018-19 while Meghahatuburu Iron ore Mines was awarded for the year 2018-19 and 2019-20. Both these SAIL mines are under the Jharkhand Group of Mines of SAIL, Bokaro Steel Plant. SAIL Chairperson Ms Soma Mondal received the awards

Tata Steel’s Noamundi Iron Mine has been accorded the 5 Star rating for sustainable development for three consecutive years i.e. 2017-18, 2018-19 and 2019-20. Tata Steel Vice President Raw Materials Mr DB Sundara Ramam received the award

NMDC received a total of nine 5 star ratings for three years for all its operating iron ore mines viz. Kumaraswami, Bacheli Deposit-5, Deposit 14 NMZ and Deposit No 10. NMDC Director Production Mr Dilip Kumar Mohanty received the awards

The Ministry of Mines had launched the scheme of ‘Star Rating of Mines’ for awarding the mining lease owners in 2016 for their efforts and initiatives for implementation of the Sustainable Development Framework. One to five Stars are awarded to mines based on the provisions stipulated, with the best performing leases being given Five Stars. The mining lease holders with Five Star rating for the last three years were felicitated in the conclave to encourage sustainable mining.
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Tata Steel Executes Blockchain Enabled Trade with Bangladesh

Strategic Research Institute
Published on :
25 Nov, 2021, 5:27 am

Tata Steel has executed a blockchain enabled paperless export order with a metal firm in Bangladesh. This makes it the first such deal executed between an India based company and a counterparty in Bangladesh assisted by different banks at respective ends. This transaction was facilitated by Standard Chartered, India, and was conducted on Contour’s blockchain trade platform, which enables banks, corporates, and other trade partners across the world to transact with each other. Standard Chartered Bank advised and confirmed the letter of credit favouring Tata Steel basis instructions received over Contour and was also able to present documents to the Buyer’s Bank over the platform. This helped in early resolution of discrepancies and reducing the overall turn-around-time from weeks to days.

The seamless transmission of LC and e-presentation of document between the two different banks at both ends via the platform under three hours is a testament to reduced paperwork and time and increased operational efficiency brought about by this solution.

This integrated solution using blockchain technology allows all parties involved in the transaction to communicate on a single platform in real time. It aims to reduce processing time by digitising the entire LC process and eliminating the operational inefficiencies as compared to traditional paper-intensive process of LCs. Further, this technology also enhances the safety of transactions. The information can be shared only with other authorised members on the network and is immutable, reducing the risk of data manipulation and fraud while increasing transparency for all parties involved in the transaction.

Earlier this year, Tata Steel executed its first blockchain enabled trade and this will be its first multi-bank transaction out of India.
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Steel Prices to Bounce Back in H1 of 2022

Strategic Research Institute
Published on :
25 Nov, 2021, 5:30 am

Taiwanese steel giant China Steel Corp expects steel demand to increase on the back of governments around the world subsidizing infrastructure construction amid a stabilizing COVID-19 pandemic. CSC chairman Mr Wong Chao-tung told investors “After getting through the hard times, I foresee at least one year, very possibly two years, of strong steel market. A dip in steel prices is a short respite for the market and would likely bounce back early next year on the back of mild winter temperatures around the world allow construction activity. Countries around the world, especially the US, are investing in infrastructure projects, leading to strong steel demand. The whole world is fighting to boost the economy.”

CSC EVP Mr Hwang Chien-chih added that recent softness in the steel market was due to logistics logjams and a lack of clarity in Chinese markets. He said “The demand will likely be pushed into the first half of next year. The mid to long-term prospects of the steel market have not been affected.”

Despite COVID-19 spikes in some regions and increased calls for carbon-neutral steel production, the company is looking forward to a positive development in the steel market on the back of higher commodity prices and continued strong worldwide demand, Wong said.

The World Steel Dynamics report predicted rising steel prices in the first half of next year amid rebounding demand in China. However, the report forecasts the rebound to dissipate in the second half of the year, causing pieces to fall, Hwang added.
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Indian Steel Demand Growth Lags Production in Apr-Oct 2021

Care Rating in a recent report India’s domestic steel production growth continued to lag production for the month ended October 2021. While the overall production of crude steel and finished steel during October 2021 was higher, consumption of finished steel was lower than that registered in October 2020 as well as that registered in October 2019. Crude steel and finished steel production during October 2021 stood at 9.8 million tonnes and 9.0 million tonnes respectively, indicating a growth of 8.6% and 8.5% respectively compared with October 2019. However finished steel production fell by 1.3%. Consumption of finished steel fell by a sharper 11.9% YoY and by 6.2% when compared with October 2019. Low export volumes and high steel prices have impacted domestic steel demand. Semi-conductor shortage has also led to slow down in demand from the auto and white goods sector.

On a cumulative basis, India's production of crude steel and finished steel during the first seven months of FY22 (April to October) remained higher than that achieved during the corresponding period of the preceding years. Consumption of finished steel was higher by 25% when compared with the corresponding period of FY21 however lower by 4.1% when compared with the same period of FY20.

Export of finished steel increased consistently since April 2021 led by higher international steel prices and demand; however, it declined in August 2021 and continued to remain lower than its July 2021 levels during September and October 2021. Finished steel export volumes from India dropped by 22% MoM in October 2021. Competitive offers from rival exporting countries has eaten into the share of Indian finished steel exporters. Imports have largely remained range-bound during April 2021 to October 2021.

zie bijlage.

Outlook: Domestic steel production and consumption remained subdued in Q2FY22 due to the second wave of Covid-19 pandemic imposed lockdowns, the onset of the monsoon season affecting construction activities and the global chip shortage (semiconductor shortage) affecting demand from the auto sector. However early signs of pick up in overall demand for steel is seen with increased vaccination coverage and lockdown restrictions gets less stringent, demand from the consumer goods segment is likely to witness growth for the festive season and government spending on infrastructure development is expected to pick up. Therefore, with pickup in government's infrastructure spending and Q4 being the strongest quarter seasonally for the steel industry, H2 of FY2022 is expected to be better than HI of FY 2022 for the steel industry.

Bron Steelguru
Bijlage:
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Nel ASA to Supply 20MW Alkaline Hydrogen Electrolyser to Ovako

Strategic Research Institute
Published on :
26 Nov, 2021, 4:58 am

Nel ASA’s Nel Hydrogen Electrolyser AS has received a purchase order for a 20MW alkaline water electrolyser from leading Swedish steel manufacturer Ovako, a leading European manufacturer of engineering steel. The electrolyser will be installed at Ovako’s existing plant in Hofors in Sweden, the first plant in the world to use hydrogen to heat steel prior to rolling and hot forming. The fossil-free hydrogen will replace the use of fossil propane gas currently used in heating furnaces at the site.

The purchase order has a contract value of approximately EUR 11 million and the equipment is expected to be delivered at the end of 2022, with the first hydrogen production in 2023. The electrolyser will produce oxygen and hydrogen to be used in Ovako’s steel-heating process and is a major step towards zero-carbon emission steel production The conversion to hydrogen will enable Ovako to reduce its CO2 emissions for steel production in Hofors by 50 percent from already low levels

In June Ovako announced our collaboration with the Volvo Group, Hitachi Energy, H2 Green Steel and Nel Hydrogen with the purpose to invest in fossil-free hydrogen in Hofors, an investment that also got the support from the Swedish Energy Agency.

Ovako is a leading European manufacturer of engineering steel for customers in the bearing, transportation and manufacturing industries, and is a subsidiary of Sanyo Special Steel and part of the Nippon Steel Corporation Group. The company has geographical presence in Europe, North America and Asia, and a steel product line that includes niche products and customized solutions. The carbon footprint of Ovako’s steel products is a full 80 percent lower than the global average.
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Iranian Apparent Steel Usage in Seven Months Declines

Strategic Research Institute
Published on :
26 Nov, 2021, 5:00 am

According to the Iranian Steel Producers Association, Iran's apparent steel usage registered a decline in the first seven months of the current Iranian year, March 21-October 22, compared with last year's corresponding period. The apparent usage totaled 9.57 million tonnes for finished products, posting a 12% decrease YoY. Long steel products accounted for the largest portion of finished steel consumption with 4.85 million tonnes, down 12% YoY.

Apparent steel usage is defined as production plus imports minus exports, sometimes also adjusted for changes in inventories.
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Nippon Gases Italia to Modernize ASU at Cogne Acciai Speciali

Strategic Research Institute
Published on :
26 Nov, 2021, 5:07 am

Leading Italian producer of long products in stainless steel and nickel alloys Cogne Acciai Speciali has recently signed an agreement with Nippon Gases Italia for the modernisation of its air separation plant, located in the Aosta steelworks in Italy and the supply of all the gases required for the steelworks' production processes. The plant will be upgraded and optimised by Nippon Gases, ensuring greater production efficiency, lower energy consumption and a consequent reduction in environmental impact, in full respect of the local community.

COGNE began its industrial activity back in 1911 and was called Cogne after the name of the village where iron ore mines have been exploited since the Roman times. Cogne Acciai Speciali is equipped with UHP Electric Arc Furnace; AOD converter; RH degassing, continuous casting unit. It is also equipped with a blooming mill, a forging shop, with a press 2000 tonnes and a SXP 40 forging machine, and an ESR furnace. This unit produces ingots, billets, blooms, forged rounds and flats, bars for extrusion of seamless tubes and profiles. The rolling unit is equipped with an integrated bar and wire rolling mill, for the production of wire rod and round bars, and heat treatment furnaces. The finishing area completes the production cycle with the manufacturing of pickled wire rod, stainless steel round bars, bars and blocks in tool steel and bars in special heat resistant steels for the manufacture of intake and exhaust valves for all types of internal combustion engines.

Founded as Rivoira in 1920, Nippon Gases Italia is part of the Nippon Gases Europe, a company reporting to Nippon Sanso Holdings Corporation. The Group supplies an essential support to several industrial areas, i.e. metallurgical, chemical, pharmaceutical, food, electronic, automotive, naval, with a consistent presence in Japan, South–East Asia, Canada, USA, Australia and Europe.
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VÍTKOVICE STEEL Returns to Profit in January – October 2021

Strategic Research Institute
Published on :
26 Nov, 2021, 5:04 am

Czech Republic’s VÍTKOVICE STEEL has returned to profit making after difficult loss years. It achieved CZK 25 million net profits for the first three quarters of this year and the outlook is still positive in spite of the utility price increase. The company profited from the recovery of demand for steel products as well as improving of efficiency of its production processes. VÍTKOVICE STEEL General Manager & Chairman Mr Dmitrij Šcuka said “The circumstances faced by steelmaking are still full of risks, from the EU climate package up to the growth of prices of utilities and emission credits, but the strong revival of demand for steel products plays into our hands. Now we do our utmost to improve the favourable conditions in order to strengthen our position of a leading steel plate producer.”

The profit achieved by the company is also a result of improvement of efficiency of certain processes and savings. For example, the procurement logistics has been improved, the production planning has been streamlined, new software for rolling has been introduced and by reusing the backing wooden blocks the company saved 4 trees every day.

VÍTKOVICE STEEL is a manufacturer of rolled steel products, the largest manufacturer of steel plates in the Czech Republic and the only manufacturer of sheet piles in the country. The current main product mix consists of thick sheets, sheet piles, blanks and profiles. Most of the company products are applied in building industry and mechanical engineering. 70 % of the sold products are exported. The key markets of VÍTKOVICE STEEL are the EU countries.

1828 - Establishment of the company

1830 - Ignition of the poodle furnace

1913 - Heavy profile rolling mill

1971 - 3.5 Kvarto - Sheet metal rolling mill

2001 - Establishment of VÍTKOVICE STEEL

2005 - VÍTKOVICE STEEL was acquired in privatization by EVRAZ

2014 - VÍTKOVICE STEEL, as acquires a group of private investors

2015 - Closure of the steel plant, transition to production from imported slabs
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Primetals Receives FAC for Replaced Laminar Cooling at Baosteel

Strategic Research Institute
Published on :
26 Nov, 2021, 5:15 am

Primetals Technologies recently received the final acceptance certificate for the replaced laminar cooling section installed at the 2050mm hot strip mill in the Shanghai, China production site of Baoshan Iron & Steel Co Ltd. The new laminar cooling enables Baosteel to extend its product range up to a thickness of 19 millimeters for high toughness line pipe grades at low temperature, and dual phase and multi-phase steel grades in a thickness range of 2 to 8 millimeters. The project was executed remotely due the ongoing pandemic conditions. After the revamp, the stability and uniformity of cooling water have been significantly improved. In addition, the new laminar cooling technologies provides a high quality technical platform for new steel grades development in the future

The 2050mm hot strip mill has a design capacity of 5.9 million tonnes per year. It produces strip with thicknesses between 1.2 -25.4 millimeters at a width of 1,900 millimeters. The length of the cooling line amounts to 140 meters. A total water flow of 38,000 cubic meters per hour can be achieved.

Primetals Technologies was responsible for basic and detail engineering of all mechanical and hydraulic equipment for the entire laminar cooling, including the turbo laminar section, the laminar section and trimming section, the swiveling unit, steel structure, fixed guide, cross spray, overhead tank including steel structure, Interconnecting piping, and was responsible for the supply of the entire laminar cooling header, swiveling unit, cross spray, overhead tank and steel structure. Advisory services for installation and commissioning as well as training of the operation and maintenance personnel were also performed by Primetals Technologies.
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Chilean Steel Maker CAP Acero Reports Profit in Q3 of 2021

Strategic Research Institute
Published on :
26 Nov, 2021, 5:10 am

CAP SA’s Chilean long steel producer, CAP Acero has reported a net profit of $ 4 million in Q3 of 2021 as compared to net loss of $ 14 million in Q3 of 2020. Net revenues in Q3 of 2021 rose 59% YoY to $ 192 million. EBITDA rose to $ 14 million in Q3 2021, from an EBITDA loss of $ million in Q2 2020. The company said steel selling prices in Q3 grew 73% YoY to $971 per tonne from $ 562 per tonne in Q3 of 2020.

Steel sales volumes in Q3 this year rose 4 % YoY to 189,000 tonnes.

The CAP Acero steel plant, known in Spanish as Siderúrgica Huachipato, is Chile's only integrated steel mill. It is owned and operated by Compañía Siderúrgica Huachipato SA, the steelmaking division of Grupo Compañía de Acero del Pacífico. CAP was founded in 1946 as a joint venture between the Chilean government agency CORFO (33%), the Caja Autónoma de Amortización de la Deuda Pública (14%), and private shareholders (53%). The company, renamed Grupo de Empresas CAP in 1981, was entirely privatized in 1987. Construction of the steel plant began in early 1947, and it was officially inaugurated on November 25, 1950. Since 1950 CAP has maintained its position as Chile's leading steel producer and processor, while steadily modernizing and upgrading its infrastructure. The plant's blast furnace/basic oxygen furnace system is fed with iron ore from CAP's own mines. The plant's continuous casting facilities and rolling mill transform the resulting steel into slabs, billets, and a variety of products destined for national and international markets, including cold- and hot-rolled steel, grinding bars, rebar, and wire rod for use in construction, mining and other industries.
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Hoa Phat’s PC Bar & Strand Exports Double in January-October 2021

Strategic Research Institute
Published on :
26 Nov, 2021, 5:19 am

Vietnamese steel maker Hoa Phat Metal Producing Company Limited’s sales of prestressed steels, PC Bar & PC Strand, reached nearly 75,000 tonnes in the first 10 months of 2021. Of which the product’s exports alone contributed 27% with more than 20,000 tonnes, double the same period last year. In addition to the US and Taiwan, Hoa Phat Group's prestressed steel has been exported to some new markets such as Canada, Singapore, Malaysia, Cambodia, Srilanka, Myanmar etc.

Hoa Phat Group has provided prestressed steel cable PC Strand to the market from the beginning of this year. The product meets American standards ASTM A416/A416M-17, ensuring mechanical properties, compressive strength and other technical standards. It has been used in large-scale projects that require high engineering, load-carrying capacity and safety such as towers, viaducts, sea-crossing bridges, high-rise buildings, and cable cars. Hoa Phat's prestressed steel products are highly appreciated by foreign customers thank to its high quality.

It is expected that in 2022, the company would put into operation the PC Strand line No 2 at the Prestressed Steel Factory (Dung Quat Economic Zone in the central Quang Ngai Province) to double the output in 2021. At the same time, the first PC Wire line is expected to have test run in February 2022.

The galvanized steel wire production line in the phase 3 is expected to be installed and put into operation in March 2022. The new line has many improvements and high technology to help increase the galvanized wire product quality to meet the exports to demanding markets such as the US, Canada, South Korea etc.

Also in 2022, the company is expected to invest in building a factory specializing in manufacturing metal accessories for construction, bridges and container corners, serving Hoa Phat Container Factory. The factory is located right next to the Hoa Phat Container Project in southern Ba Ria - Vung Tau Province.
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Danieli to Supply Two 1200 mm Dia Bloom Casters to Chinese Mills

Strategic Research Institute
Published on :
26 Nov, 2021, 5:24 am

Danieli was awarded two contracts to supply brand-new, large-round continuous casting machines to Chinese steelmakers Chengde Jianlong and Jiangsu Yonggang, to meet the growing demand of components required by the power-generation industry, worldwide. The 18 meter radius casters will be able to produce large round sections from 700 to 1200 mm dia, with total production capacities exceeding 1 million tonnes per year. 1200-mm-dia blooms will become the largest continuously cast sections in the world. The startup of the four-strand jumbo bloom caster for Jiangsu Yonggang is scheduled for January 2022, whilst the three-strand jumbo caster for Chengde Jianlong is foreseen starting a few months later, in April.

Danieli jumbo caster technology foresees the intensive use of electromagnetic stirring systems, mould, strand and final that ensure best internal quality with very low values of carbon segregation and central porosity, for a wide range of steel grades dedicated to power generation.

The combined application of the innovative, patented “Q-DTC – Dual Temperature Control system” and the new “High-force withdrawal and straightening modules” will guarantee smooth product unbending to maximize surface quality, and safe and reliable operations during the casting process.
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Ashry Steel to Close Acquisition of ARCOSTEEL in January 2022

Strategic Research Institute
Published on :
26 Nov, 2021, 5:22 am

Amwal Al Ghad in exclusive report, citing sources familiar with the deal, revealed that Egyptian steel maker Ashry Steel Group is looking to finalise its acquisition of the Arab Company for Special Steel by January 2022. Sources said that Ashry Steel Group seeks to buy a 100% stake of ARCOSTEEL as part of an expansion plan for the local market. The sources did not disclose the value of the price or the terms

In June, Ashry Steel agreed to buy stakes of three shareholders of ARCOSTEEL. ARCOSTEEL’s shareholding structure consists of the National Bank of Egypt, which is the biggest shareholder, in addition to the National Investment Bank, Industrial Development Bank, Misr Insurance, Metallurgical Industries Holding Company, Egyptian Reinsurance Company, Egyptian General Petroleum Corporation and Suez Canal Authority.

ARCOSTEEL was established in 1992. The company is located at the 5th industrial zone in Sadat City of Egypt and is equipped with the latest technology in steel manufacturing, rolling mills, finishing, heat treatment and utilities equipment. ARCOSTEEL’s Current annual designed production capacity is 140,000 tonnes of stainless steel, free cutting steel, spring steel, case hardening steel, and quenching & tempering steel.
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Mr Geert Van Poelvoorde Re Elected as EUROFER President

Strategic Research Institute
Published on :
26 Nov, 2021, 5:26 am

The board of the European Steel Association EUROFER has re-elected Mr Geert Van Poelvoorde as President of the organisation for the fourth consecutive time last week. The board meeting also saw the re-election of the nine EUROFER vice-presidents and the confirmation of the 20 members of the board. All are two-year terms. Mr Van Poelvoorde is a member of the Group management committee of ArcelorMittal and CEO ArcelorMittal Europe. He has more than 30 years of experience in different positions in the steel sector. He started serving as President of the European Steel Association in November 2015.

Mr Van Poelvoorde said “It’s a great honour to be appointed for the fourth time by my peers on the EUROFER board in a role more important than ever. The renewal of the mandate comes at a crucial time for the steel sector: the coming months will be key for re-adjusting the European Commission’s Fit for-55 package, so that the European steel industry’s ambitious decarbonisation plans towards climate neutrality can be reached in a sustainable way ensuring its global competitiveness. I thank my colleagues for their trust and I look forward to continuing this vital work along with the EUROFER team”.

EUROFER AISBL is located in Brussels and was founded in 1976. It represents the entirety of steel production in the European Union. EUROFER members are steel companies and national steel federations throughout the EU. The major steel companies and national steel federation of Turkey and the United Kingdom are associate members.
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