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Aperam mag ELG overnemen van Brussel
Geen mededingingsbezwaren.

(ABM FN-Dow Jones) Aperam mag het Duitse recyclingbedrijf ELG Haniel overnemen. De Europese Commissie gaf vrijdag groen licht.

De toezichthouder van de Europese Unie ziet geen mededingingsbezwaren.

Aperam kondigde de overname begin mei aan en meldde toen ELG over te nemen voor van 357 miljoen euro.

De overname versterkt de positie van de producent van roestvrij staal op het gebied van kosten en duurzaamheid, en moet binnen drie jaar 24 miljoen euro aan synergieën opleveren.

Door de overname kan Aperam zijn grondstoffenmix verbeteren en uitbreiden naar de levering van ruwe grondstoffen.

De overname moet in de tweede helft van 2021 zijn afgerond, meldde Aperam destijds.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999
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Beursblik: Bank of America verlaagt koersdoel ArcelorMittal
Naar 45,00 euro.

(ABM FN-Dow Jones) Bank of America heeft het koersdoel voor ArcelorMittal verlaagd van 47,00 naar 45,00 euro met handhaving van het koopadvies. Dit bleek vrijdag uit een analistenrapport van de zakenbank.

Voor het vierde kwartaal verwacht Bank of America een daling van de EBITDA als gevolg van een prijsdaling op kwartaalbasis. De EBITDA zal dit lopende kwartaal volgens de Amerikaanse bank uitkomen op 4,9 miljard dollar, een daling met 19 procent op kwartaalbasis en 16 procent onder de marktconsensus. In het derde kwartaal lag de EBITDA op 6,1 miljard dollar.

Voor heel 2021 verlaagde de bank de taxatie voor de EBITDA met 7 procent tot 19,3 miljard dollar. Daarmee zit de bank 4,6 procent onder de analistenconsensus.

Bank of America denkt ook dat ArcelorMittal in de contractonderhandelingen met zijn afnemers voor 2022 flink hogere prijzen zal kunnen bedingen, vooral bij de Europese autofabrikanten. Dit levert volgens de bank 2,6 tot 3,5 miljard dollar extra omzet op in vergelijking tot 2021.

Op een rood Damrak noteerde het aandeel ArcelorMittal vrijdag 6 procent lager op 24,55 euro.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999
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Tata Steel Deploying All Women Crew at Noamundi Iron Ore Mine

Strategic Research Institute
Published on :
29 Nov, 2021, 4:55 am

PTI reported that Tata Steel’s Ore, Mines & Quarry Division’s Noamundi Iron Ore Mine in Jharkhand is set to witness an all-women team taking up drilling, dumper, and shovel operations in all shifts from early next year. Women officers and operators have already been inducted in the Noamundi Iron Mine and it will be the first time in the country that a 30-member team, exclusively comprising women from the rank of officers to operators, will be engaged independently in all the shifts

As part of the new initiative, “Women at Mines” at the mine in West Singhbhum district, the first batch of 22 operators of heavy earthmoving machinery will start working independently in all the shifts. After this this initiative has also been taken in West Bokaro division.

In 2019, the Center allowed women to work in underground and open mines during the day and night with riders. The Union Labor Ministry had said that before giving employment to women, their written permission is necessary and they have to be posted in groups of at least three in a shift. If women are posted in an underground mine, the authority can do so only in technical, supervisory and managerial work” between 6 AM and 7 PM.

The objective behind the initiative, termed 'Tejaswini 2.0, is to enhance gender diversity in the workplace, particularly in a difficult sector like mining. The programme has been designed to provide technical training to unskilled women workers and enable them to work in core jobs at mines. Tata Steel has set a target of recruiting 20% women employees of the total workforce by 2025.

Tata Steel started mining at Noamundi in 1925. Noamundi Iron Mine will be completing 100 years of mining in 2025. The current production of Noamundi Iron Mine is about 9 million tonnes per annum.
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ING to Align Steel Portfolio with Net-Zero by 2050 Pathway

Strategic Research Institute
Published on :
29 Nov, 2021, 4:57 am

ING’s steel lead Mr Erik van Doezum said “We’ve committed to aligning our steel portfolio with the net-zero by 2050 pathway. We’re doing quite a bit of work on sustainability improvement loans, supporting companies to improve their target setting, to start using science-based targets and improve their ambition levels. At the same time, we’re talking to them about their transition strategy. From a steelmaker’s perspective, the question is how am I going to do it? And how can I do it while remaining financially responsible, keeping shareholders and lenders happy, and generating sufficient cashflow in a business that is extremely cyclical? We’re there to have these discussions and help them find the best solutions.”

He said “We say steel is inevitable, it’s everywhere. It’s in the white goods we use, the cars we drive, in our windmills, the houses being built. No one actually wants steel per se, but there’s no alternative, it’s essential for modern life. Demand for steel will continue to grow from now till 2050 and until the end of the century. Unfortunately, at the moment producing steel is relatively carbon intensive. The average emissions are 1.83 tons of C02 per ton of crude steel. It accounts for an estimated 7% to 9% of global emissions.

He added “Steel isn’t sexy, it’s utilitarian, the visualisation of an old industry. It’s a large industry, and it will be a very big challenge to decarbonise it, but it’s an industry where we can make a real difference. It has the potential to move to something completely different. I think that’s exciting. It's an opportunity for the industry to reinvent itself, new technologies and innovation. That offers opportunities for us as banks to really team up with our clients and, I mean it sounds a bit dreamy, but to imagine the future together and realise it together.”

He said “A couple of years ago sustainability wasn’t at the top of the agenda for steelmakers. Now they're proactively asking for our advice. I’ve just got off the phone with a CFO who three years ago had no sustainability targets. Now his company has a net zero target by 2050, they’ve done a couple of sustainability improvement loans and are preparing a large investment into a relatively green steel production site. It’s going very fast and clients appreciate banks that have knowledge to advise and support them through this process. We’re leading the work stream on climate-aligned finance with four other banks to come up with a standard for steel companies to report CO2 emissions; a standard for banks to report on the carbon intensity of their steel lending portfolios; and the roadmap by which to measure that. It falls perfectly under our Terra approach. We’re currently starting the consultation phase for our proposed roadmap, which is an absolutely critical part of that methodology and hardest to get right. Banks would be obliging steel clients to report to that standard, gaining insights into where they are in their decarbonisation journeys, and then have the conversation of how to help them get there.”
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Vallourec Reports Strong Results for Q3 & 9 Months of 2021

Strategic Research Institute
Published on :
29 Nov, 2021, 4:59 am

Global leader in premium tubular solutions Vallourec announced solid YoY revenue and EBITDA growth driven by the dynamism of the Oil & Gas market in North America and the strong mine contribution in Q3 of 2021

Revenue EUR 834 million, up 16.4%

EBITDA EUR 128 million, up 80%

EBITDA margin increasing to 15.3% vs. 9.9% in Q3 2020

Vallourec Chairman & Chief Executive Officer Edouard Guinotte said “With the global economy recovering post-Covid, Vallourec confirmed its good operating momentum in the third quarter with a solid revenue and EBITDA growth. The Group benefited from increased activity and pricing on the North American Oil & Gas market and a strong contribution from its iron ore mine in Brazil as well as the positive effects of its savings initiatives, while deliveries to the EA-MEA Oil & Gas sector remained significantly below their pre-crisis levels.”

He added “Looking ahead towards the end of 2021, we expect our Mining activity to reflect the recent decline of iron ore prices. However, we expect to continue benefiting from increased activity in North America and build up our order book for EA-MEA Oil & Gas markets.”

2021 Outlook - As a result of the recent decline in iron ore prices, and based on their current level, Vallourec targets full year EBITDA close to the lower end of the EUR 475 to EUR 525 million target communicated on July 21st, 2021.
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NLMK Pennsylvania Counters USW Request to Keeps Tariffs on Slabs

Strategic Research Institute
Published on :
29 Nov, 2021, 5:02 am

NC News reported that NLMK Pennsylvania’s President Mr Bob Miller is seething over a request USW International President Mr Tom Conway has made to the US Commerce Department to keep Trump-era tariffs on imported steel slabs. He said “The USW doesn’t have to go out into the market and buy slabs. I can tell you we do, and there are no slabs available produced in America zero, none.’’

Mr Conway in a 12 October letter wrote “The US national security depends on the domestic industry’s ability to manufacture steel from start to finish in America. The domestic industry continues to have idled slab capacity that could be put to use in the commercial market.’’

NLMK Pennsylvania has fought to have the 25 percent tariffs lifted since they were imposed by President Donald Trump in 2018.

NLMK Pennsylvania’s Farrell steel plant imports slabs from its Russia-based parent company, known as NLMK Group.
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BDSV Report Reveals Increased Use of Scrap by German Steel Mills

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

The annual conference of the Federal Association of German Steel Recycling and Disposal Companies BDSV is taking place fully digitally for the second time this year. On the occasion, the top representatives of the BDSV commented on the current situation in the industry, presented the new Fraunhofer IMW study “Schrottbonus Konkret” and reported on other environmental issues saying in part that steelmakers in German are using more scrap due to the rising costs for CO2 certificates and to compensate for the likewise sharp rise in iron ore prices.

In its economic report, BDSV says supply chain-related problems in the automotive sector and other industries have so far not been reflected in the order books of the steel industry, with crude steel production in Germany still pointing upwards. In the course of the year to date, steel production has increased by 15 percent to 33.6 million tonnes and has led to a correspondingly higher demand for scrap as German steel producers used more scrap because of lofty iron ore prices and the goal of lower carbon-emissions production.

BDSV said “The high demand for scrap met a very tight supply, especially in the area of prompt] scrap. Persistent delivery bottlenecks for intermediate products and steel led in some cases to production stops in industry and thus to a reduced volume of [prompt] scrap. As a result, the gap between the price of prompt and obsolete scrap in Germany widened, as it has in the United States.”
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Credai Warns of Surge in Housing Prices on Higher Steel Costs

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

Realtors' apex body The Confederation of Real Estate Developers' Association of India has expressed concern over an increase in the rates of cement and steel during the past one year and said housing prices could rise 10-15 per cent if the prices of construction raw materials do not fall. The industry body demanded that the government should take measures to control the prices and suggested reduction in GST for construction raw materials.

The Confederation of Real Estate Developers' Association of India, which has over 13,000 member developers, pointed out that the prices of construction raw materials have been increasing consistently since January 2020.

Moreover, the association said the delays in construction caused by lockdowns, curfews and the shortage of labour resulted in a direct increase in construction cost anywhere between 10 per cent and 15 per cent in the past 18 months.
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Robusteel to Acquire Assets of Evraz Highveld Steel & Vanadium

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

The remaining assets of Evraz Highveld Steel & Vanadium, once the second-largest SA steel producer before it went into business rescue four years ago after years of losses, will be acquired by Highveld Robusteel in USD 105 million deal that is set to boost economic activity in Witbank, Mpumalanga. Business Rescue Practitioner Mr Piers Marsden confirmed that Highveld Robusteel will be acquiring the remaining iron and steelmaking assets of Evraz Highveld Steel & Vanadium. The USD 105 million is made up of the asset acquisition, as well as the restart and upgrade of the plant

The assets comprising this transaction include four iron making furnaces and ten rotary pre-reduction kilns housed across two separate smelter plants, a steel plant facility including two basic oxygen furnaces, a ladle furnace, a continuous casting machine and a plate mill facility, reinforcing Robusteel’s commitment to restart steelmaking at this renowned location. The assets are situated within the Highveld Industrial Park, a major industrial hub in Mpumalanga, South Africa, which will support this transaction through the supply of a full suite of shared services including logistics and waste facilities.

At full production, Robusteel will produce vanadium bearing pig-iron, various flat steel products, vanadium pentoxide slag and structural blooms supported by an ore offtake agreement with the historically linked Mapoch’s mine.

Robusteel is a special purpose vehicle jointly held by black-owned Bonheur Ventures and Amplico Resource Management. The transaction is the first of Robusteel’s strategic acquisitions in the steel, mining, minerals beneficiation and infrastructure sectors within the Southern African Development Community, with financial support garnered from several major international and local funders.
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NYK Conducts Biofuel Trial on Vessel Transporting Tata Steel Cargo

Strategic Research Institute
Published on :
29 Nov, 2021, 5:17 am

The bulk carrier Frontier Sky, which is owned by NYK and operated by Tata NYK Shipping Pte Ltd, has conducted a trial use of biofuel to transport cargo provided by Tata Steel Limited. This is the third successful trial use of biofuel by an NYK vessel. In this test voyage, the vessel was fuelled with biofuel by Toyota Tsusho Petroleum Pte Ltd at the port of Singapore on November 14 and a test voyage was conducted on a route to the port of Dhamra in India.

NYK provided technical support, such as biofuel refuelling arrangements and engine operation planning, and Tata NYK provided operational cooperation for the test voyage. The knowledge gained from this test voyage will be shared among Tata Steel, NYK, and Tata NYK the three companies will continue to collaborate with Tata Steel in an effort toward decarbonization.

Overview of Frontier Sky

Length Overall: 291.973 meters

Breadth: 45.00 meters

Designed Draft: 18.2235 meters

Gross Tonnage: 93,182 tons

Deadweight Tonnage: 179,288 tons

Builder: Hyundai Heavy Industries Co Ltd

Going forward, the NYK Group will further examine biofuel greater use within the group’s fleet, as we seek to provide maximum solutions for our customers' drive toward decarbonization and further expand our efforts regardless of industry or region.

Biofuels are considered to be carbon-neutral because the carbon dioxide that is absorbed by the source of the biomass is equal to the carbon dioxide that is released when the fuel is burned. With increasing demands for reducing greenhouse gases emitted from ships by oceangoing shipping around the world, biofuels are currently attracting attention as an alternative fuel for ships to replace heavy oil.
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Gerdau CEO Mr Gustavo Werneck is New President of Alacero

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

Gerdau CEO Mr Gustavo Werneck recently assumed the presidency of the Latin American Steel Association Alacero in a ceremony held in São Paulo in Brazil. Mr Werneck will occupy the position for the next two years, replacing Mr Máximo Vedoya, CEO of Ternium, who was in charge of the entity during the period from 2019 to 2021.

In the leadership of Alacero, Mr Werneck will have as a challenge to place the steel sector as the protagonist of the transformations that the world is experiencing today and as part of the realization of the wishes of society, promoting the construction of an increasingly sustainable future.

The Latin American Steel Association Alacero is the non-profit civil entity that brings together the Latin American steel value chain with the aim of promoting quality industrial employment, regional integration, technological innovation, care for the environment, excellence in human resources, safety at work, the integral development of their communities and corporate responsibility. Founded in 1959, it is made up of more than 60 producing and related companies and more than 1.2 million workers, whose production is close to 60 million tons per year.
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PNB Puts National Steel & Agro Industries on Auction

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

Punjab National Bank has put Indore based National Steel & Agro Industries Ltd for sale to recover dues to the tune of nearly INR 200 crore. Punjab National Bank in its auction notification said “We intend to place the account for sale to ARCs/NBFCs/other banks/FIs, on the terms and conditions stipulated in the bank's policy, in line with the regulatory guidelines.".

Punjab National Bank has pegged the reserve price on cash basis at INR 95 crore for the sale process. The lender has set December 8 as the deadline for prospective bidders to complete the due diligence exercise. The last date of submission of binding bids is December 9. Bids for National Steel and Agro Industries will be opened on December 10, 2021.

For the prospective bidder to expedite the process of due diligence exercise and for verification purposes of the buyer, Punjab National Bank said it will make all possible efforts to bring copies of documents at one place.

Punjab National Bank, however, said that it may withdraw the account offered for sale, without assigning any reasons, at its sole discretion.

National Steel and Agro Industries Ltd is primarily known for its flat steel products Cold Rolled Coil, Galvanised Corrugated Sheets, Colour Coil & Pre-painted Profile sheets, etc. It has built an installed capacity of around 380,000 tonnes per annum

1987: Production from Continuous Galvanized Line (CGL) -1 started

1994: In-house Cold Rolling Mill (CRM) - 1 started T

1999: CGL – Line 2 started

2004: Colour Coating Line commissioned

2004: Cold Rolled Mill (CRM) – 2 added

2012: CGL Line 3 started

2015: Colour Coating Line Started with 1500 mm (Wider) width

2016: Adding new product range of Aluminium Zinc alloy coated products
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Steel Minister Concerned over Non Operational Mines

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

A meeting was taken by the India’s Union Steel Minister Mr Ram Chandra Prasad Singh where Steel Authority of India Ltd Chairperson, National Mineral Development Corporation Ltd CMD, Manganese Ore India Ltd CMD and officers of the Ministry of Steel and Ministry of Mines were present. Mr Singh expressed his concern over the non-operationalization of certain mines and directed the concerned CPSEs to finalise the roadmap for starting the mining operations in these non-working leases & mines.

Mr Singh directed that they should expedite the regulatory compliances needed within the existing framework of Government guidelines so as to avoid lapsing of the leases & mines. The units have been directed to submit a status report at the earliest.
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Maruti Suzuki & Toyota Tsusho Noida Recycling Unit Starts

Strategic Research Institute
Published on :
29 Nov, 2021, 5:28 am

India’s Union Minister of Road Transport and Highways Mr Nitin Gadkari has inaugurated Maruti Suzuki Toyotsu India Private Limited, a government approved ELV scrapping and recycling unit. As a step towards circular economy and with an aim to promote organized, transparent and environment friendly dismantling of End-of-Life Vehicles, Maruti Suzuki and Toyota Tsusho Group have joined hands to set up Maruti Suzuki Toyotsu India Private Limited. The 10,993 square meter facility has a capacity to scrap and recycle over 24,000 ELVs annually. Built with an investment of over INR 44 crores, the facility uses modern and technologically advanced machines to dismantle and scrap ELVs in a scientific manner.

Maruti Suzuki Toyotsu India Private Limited follows globally approved quality and environment standards. These include complete solid and liquid waste management ensuring zero discharge of liquid and gases from the ELVs.
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Tata Steel to Increase Iron Ore Production in 5 Years

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

PTI reported that Tata Steel will focus on augmenting iron ore production from 30 million tonne per annum to 45 million tonne per annum in the next five years. Tata Steel’s Ores, Mines & Quarries Division General Manager Mr Atul Kumar Bhatnagar said “In the next five years, we will focus on increasing iron ore production capacity to 45 mtpa in line with the expansion in the steel making facilities in the country.”

The total iron ore production from Tata Steel’s captive mines in Noamundi in Jharkhand and in Katamati, Joda and Khondbond blocks in Odisha, is about 30 million tonne per annum. The present capacity is sufficient to meet the iron ore requirement in Tata Steel’s manufacturing facilities in Jharkhand’s Jamshedpur and Odisha’s Kalinganagar.

Tata Steel had started its iron ore mining operation at Noamundi in 1925 and the mine will turn 100 in 2025
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BaoSteel Develops Corrosion Resistant Composite Steel Plates

Strategic Research Institute
Published on :
29 Nov, 2021, 5:33 am

A new type of composite pattern steel plate made of special stainless steel and carbon steel, which was launched by Baosteel's production, marketing and research team, has attracted the attention of the industry for its enhanced intrinsic safety, and will be fully promoted at Baosteel's production site.

This product has higher strength and corrosion resistance compared to ordinary carbon steel pattern plates and is expected to have a service life of over several decades, which will greatly reduce maintenance and safety hazards, improve the intrinsic safety of the equipment, and is extremely cost-effective. The trial of this product in Baosteel over the last five years has shown excellent results.
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Advies van Jefferies over Arcelor Mittal
Beurshuis Jefferies
Aandeel ArcelorMittal
Datum 29 november 2021
Advies Kopen
Koersdoel 42,00 EUR

Detail advies
(Trivano.com) - Op 29 november 2021 hebben de analisten van Jefferies hun beleggingsadvies voor ArcelorMittal (MT; ISIN: LU1598757687) herhaald. Het advies van Jefferies voor ArcelorMittal blijft "kopen".

De analisten behouden hun koersdoel van 42,00 EUR.

Op 4 november 2021 publiceerde ArcelorMittal kwartaalcijfers.
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ABB Ability Smart Melt Shop Solution for Steel MeltShop Operations

Strategic Research Institute
Published on :
30 Nov, 2021, 4:57 am

Technology leader ABB has launched ABB Ability Smart Melt Shop, the first smart factory digital application of its kind for the metals industry. It is designed to increase melt shop productivity, save energy and improve employee safety, with payback within six months. Based on advanced digital algorithms, the new solution is unique in that it offers not only powerful real-time ladle tracking but also automated crane scheduling and a predictive thermal modelling engine. The tracking engine follows ladle movement via cranes and transfer cars in real time. Radar and laser positioning technologies provide accurate visualization while reducing hardware footprint and maintenance needs compared to radio-frequency identification solutions. The automated crane scheduling includes job forecasting, route planning and automatic acknowledgement of jobs. This will enable steelmakers to move towards autonomous operations by eliminating manual co-ordinations, with increased safety in hot zones due to lower footfall.

The thermal engine function uses ladle thermal history from the tracking engine and forecasted heat movement from scheduling engines to predict the thermal loss during ladle transfer and predicts the correct lift temperature at ladle furnace. This results in better superheat compliance at the caster, eliminating caster slowdowns, hence increasing productivity. Steelmakers can expect ABB Ability Smart Melt Shop to help increase superheat compliance to enable 4-5 percent higher casting speeds to improve productivity and reduce arcing by 5 degrees Celsius per heat in ladle furnaces for increased energy and cost efficiency.

This application uses all standard communications protocols, employs ABB’s multi-layered defense-in-depth approach to cyber security and is compatible with both ABB and third-party systems. Benefits of ABB Ability Smart Melt Shop include

Productivity

4-5 percent increased casting speed due to better superheat compliance

Reduced tapping delays, in EAF or converter due to more efficient scheduling of cranes for ladle movement

Better ladle management and maintenance planning thanks to access to historical data on all movements

Increased manpower productivity since no manual intervention or acknowledgement is required

Energy efficiency

5 degrees Celsius less arcing per heat (batch) in ladle furnace using thermal models to accurately predict target lift temperature

Improved decision-making thanks to forecasting of ladle movements and crane schedules

Safety

Increased safety with less footfall in hot zones which would otherwise be needed to manage ladle and crane movement

ABB Ability Smart Melt Shop has already been installed by JSW Steel Ltd. It is expected to increase the company’s EBITDA profit by around USD 2 million per annum through 4 percent higher casting speeds, time savings of one working day per month and additional output equating to 24,000 tonnes a year.
Bijlage:
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Severstal Cuts Greenhouse Gas Emissions through Green Energy

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

Russian steel maker Severstal is working to systematically reduce greenhouse gas emissions into the atmosphere. Since 2017, Severstal has reduced its specific greenhouse gas emissions from 2.09 to 2.06 tonnes of CO2 / tonne of steel, with a global average of 2.30. Company's goal is to reduce the intensity of greenhouse gas emissions by 3% by 2023 compared to 2020. This will reduce the intensity of CO2 emissions per tonne of steel from 2.063 tonnes / tonne of steel to 2.001 tonnes / tonne of steel. The use of secondary resources - coke oven and blast-furnace gases, which are formed during the production process, allows the Cherepovets Metallurgical Plant, the company's largest asset, to reduce the consumption of natural gas for technology for production sites and for generating its own electricity, thereby ensuring a reduction in greenhouse gas emissions

At the end of 2020, the share of its own generation at CherMK amounted to 81%, while the share of blast furnace and coke oven gases in the fuel structure of stations in 2020 was 77.5%. At the Cherepovets site, the company does not use coal as a fuel to generate electricity. Part of CherMK's own generation belongs to "green" energy - these are gas utilization compressorless turbines, where fuel is not burned at the GUBT to generate electricity, but the excess pressure of a secondary energy resource - blast furnace gas - is used. The energy goal of CherMK is to ensure 95% of its own electricity generation of the total demand by 2023.

The total consumption of blast furnace and coke oven gas at CherMK is about 15 billion cubic meters per year, and given that the energy value of these gases, in particular, is due to the presence of pure hydrogen in them up to 13% in blast furnace gas and up to 60% in coke oven gas, its use allows us to save fossil carbonaceous fuels, significantly bringing Severstal closer to the goals of reducing the climate footprint

Reduction of greenhouse gas emissions will be achieved, among other things, through the technical re-equipment of production facilities and the introduction of the best available technologies at all the company's assets. As for the energy sector of CherMK, this is the construction of a boiler house with a boiler unit No. 11, which will allow the company to increase its own generation of electricity and contribute to environmental protection.
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GMS Market Commentary on Ship Breaking in Week 47

Strategic Research Institute
Published on :
30 Nov, 2021, 5:02 am

World's leading cash buyer of ships for recycling GMS said that “Over the recent weeks, following a sharp decline in Indian local steel plate prices in excess of USD 60/LDT has expectantly resulted in a sub-continent recycling sector that has been rocked and left many Recyclers spooked and opting to wait and monitor developments, rather than negotiate & commit on fresh tonnage. However, the acute shortage of vessels continues and there is really very little working firm for Cash Buyers and Recyclers alike, to even offer on at the moment. As such, this pause in activity may somewhat be artificial and the impact on prices may be limited in real terms, especially once we have actual workable candidates. Such was the case with the one market sale of the week, a Suezmax tanker that still managed to fetch a decent USD 625/LT LDT basis an ‘as is’ Batam delivery, from one bullish Cash Buyer.”

GMS said Most in the industry are still attempting to talk the market down, with either depreciating currencies in Pakistan and especially in Turkey with record lows being recorded by the week, fluctuating steel plate prices in Bangladesh and India, and uncertainty on forward markets, being one of the chief concerns of the moment.”

GMS added “As such it may be a quieter end to the year across the sub-continent, as end Buyers take stock of a remarkable 2021, where prices have more than doubled and the industry now adjusts to these new realities, at and above USD 600/LT LDT.”

GMS Pricing

India/Bangladesh/Pakistan – Week 47, Unchanged

Dry Bulk – USD 560-600 per LDT

Tankers - USD 570-610 per LDT

Containers - USD 580-620 per LDT
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Vertraagd 20 mei 2022 17:37
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