ArcelorMittal LU1598757687

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1. voda 29 december 2021 06:47

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   Datana Introduces AI at MMK BOF to Improve Steel Quality
   
   Strategic Research Institute
   Published on :
   29 Dec, 2021, 4:19 am
   
   LANIT Group’s Datana has developed a set of digital solutions to improve the quality of the products of the oxygen-converter shop of Russian steel maker MMK. A hardware and software system was installed on the ladle furnace to control the metal blowing with argon. An important advantage of the work performed is the equipping of steel-making units with additional equipment, means of monitoring the production process, which allows the company's specialists to continue to use the tools to optimize the technological operations used.
   
   The complex consists of a robotic arm designed by Datana engineers, a camera in a protective casing for collecting streaming video data at high temperatures, as well as an ensemble of mathematical models based on neural networks. In real time, the complex performs video recording and analysis, evaluates and issues recommendations for the steelmaker. Thanks to the work of the hardware and software complex, it is easier to observe the production process, which has a positive effect on the quality of products.
   
   A system for optimizing the decarburization process was installed on the steel vacuuming unit. A physicochemical model was developed, reinforced with ML-models. The system recommends optimal modes and predicts the time to reach the target carbon in the melt, which reduces the evacuation time.
   
   A slag detection system is installed on two continuous casting machines. To solve this problem, a vibrodiagnostic method of data collection was used and an ML-model was developed, which allows detecting slag in the metal flow during steel casting and recommending the optimal time for stopping the operation. The system allows to reduce the amount of slag entering the tundish, increasing the quality of continuously cast slabs.
   
   The tests of these solutions were carried out on the out-of-furnace treatment and continuous casting units and confirmed the effectiveness of the developments.
   
   LANIT, Laboratory of New Information Technologies, is a leading multidisciplinary group of IT companies in Russia and CIS. LANIT is a private company, established in 1989. LANIT supplies a complete set of modern information technology services including development, installation, implementation of hardware and software complexes in addition to personnel training.
2. voda 29 december 2021 06:48

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   Marlin Steel Wire Acquires Indiana Based Madsen Wire Products
   
   Strategic Research Institute
   Published on :
   29 Dec, 2021, 4:23 am
   
   Baltimore US based Marlin Steel Wire has acquired the assets of an Indiana-based maker of wire products for an undisclosed price, reportedly less than USD 10 million. Marlin Steel Wire had entered into negotiations with Madsen in late summer and closed on the transaction on 15 December 2021. Orland Indiana based Madsen Wiremakes security partitions for fleet vehicles and is one of the largest manufacturers of wire mesh, wire grid, wire mats and forms and refrigerator shelves. Madsen, founded in 1938, has kept up with the latest technology in the business and invested millions of dollars in new robotic welding technology and wire forming technology.
   
   The merger will allow the companies to ship faster and provide more capacity to take advantage of bigger jobs that are returning to the US from China
   
   Marlin Steel, a privately owned firm that moved to Baltimore in 1999 from Brooklyn New York, makes custom-engineered products of steel wire and sheet metal for the aerospace, defense, medical and automotive industries. The company employs 80 workers and expects to hire up to 15% more in the next month.
3. voda 29 december 2021 06:49

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   TMK & Gazpromneft-Razvitie Form a Responsible Supply Chain
   
   Strategic Research Institute
   Published on :
   29 Dec, 2021, 4:28 am
   
   Russian Pipe Metallurgical Company TMK held a meeting with Gazpromneft-Razvitie and Gazpromneft-Snabzhenie on cooperation in the field of sustainable development ESG, environmental, social and governance factors. During the meeting, the parties agreed that the companies will actively develop the practice of responsible purchasing and develop recommendations for suppliers in the field of ESG. In the long term, through the exchange of best practices, a strategy for the development of suppliers in the market will be developed, in particular, criteria for rating and monitoring the supplier market, communication and training programs. In the medium term, ESG compliance is likely to become a prerequisite for becoming a supplier for both companies.
   
   TMK's sustainable development department head Mr Denis Papin said “Building responsible supply chains is a global trend that is now actively spreading in Russia. Companies that are currently quite advanced in terms of sustainability are beginning to extend their ESG standards to suppliers. This trend is especially relevant for the oil and gas industry, including Gazprom Neft, and TMK is one of the leading global manufacturers of tubular products for oil and gas enterprises.”
4. voda 29 december 2021 06:50

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   OMK Develops Launch chambers for Oil Trunk Pipelines
   
   Strategic Research Institute
   Published on :
   29 Dec, 2021, 4:30 am
   
   The Chelyabinsk plant of Russian United Metallurgical Company OMK has developed a new type of product for receiving and launching chambers for main pipelines. Thus, OMK is expanding its comprehensive offer for customers involved in the construction and maintenance of oil pipelines. The chambers are designed for loading and removing from the pipeline a special piston, a cleaning and diagnostic device that removes the remains of sand and paraffin deposits from the object, and also has special sensors and recorders to determine possible defects and cracks formed on the inner walls of the pipe. OMK products are designed for pressures up to 32 MPa. If necessary, it can be made of frost-resistant steel grades and operated at temperatures up to minus 60 degrees Celsius.
   
   The first four chambers were manufactured by OMK for the Gomel-Druzhba oil trunk pipeline in Republic of Belarus. Each chamber weighs five tonnes, has a diameter of 720 mm, is almost 12 meters long and is designed for operation on oil trunk pipelines. In 2016, the company manufactured similar devices for field oil pipelines with a diameter of up to 320 mm.
   
   The uniqueness of the camera, manufactured at the OMK plant in Chelyabinsk, lies in the fact that conventional quick-release bayonet locks are used both on the main and on the auxiliary reserve housing of the camera to trigger a diagnostic device. This reduces the time required to launch a special piston and to perform pipeline cleaning and diagnostics.
   
   The camera was manufactured in a modular design and equipped with a tray, pallet, traction device, cantilever crane, service platforms and other equipment. For the manufacture of the chamber, pipes were used from the Vyksa plant of OMK in Nizhny Novgorod region.

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5. voda 29 december 2021 06:50

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   AISI Welcomes Presidential Proclamation on EU Steel Imports
   
   Strategic Research Institute
   Published on :
   29 Dec, 2021, 4:33 am
   
   American Iron and Steel Institute President & CEO Mr Kevin Dempsey, in response to the issuance yesterday of a presidential proclamation implementing a tariff-rate quota on steel imports from the EU, said “AISI welcomes the president’s action to implement a tariff-rate quota under Section 232 on steel products imported from the EU in accordance with the agreement reached by the US and EU last October. We are particularly gratified that the president’s proclamation emphasizes that only steel melted and poured in the EU will benefit from this alternative arrangement. Proper implementation and enforcement of the TRQ will be crucial to preventing another steel import surge that would undermine our industry and destroy good paying American jobs.
   
   Mr Dempsey also said “We also welcome the president’s direction to the Secretary of Commerce to initiate a regulatory review of the Section 232 exclusions process that will include a focus on enhanced consultations with US companies and labor organizations. AISI looks forward to working with the administration to seek improvements in the exclusions process to ensure that only those steel products truly not available domestically are exempted from the Section 232 measures.”
   
   Mr Dempsey added “AISI continues to support the administration’s efforts to negotiate a global arrangement to restore market-oriented conditions in global steel markets and address the carbon-intensity of steel traded around the world. The American steel industry is the cleanest and most energy efficient of the leading steel industries in the world and we have achieved these results through market-driven competition and without reliance on market-distorting government subsidies. This is a model we urge other nations to adopt as we work together to provide solutions to the global climate crisis and to eliminate global excess capacity in steel.”
6. voda 29 december 2021 06:51

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   Acciai Speciali Terni Achieves Strong Performance in 2021
   
   Strategic Research Institute
   Published on :
   29 Dec, 2021, 4:36 am
   
   After two years, the balance sheet of Italian stainless steel producer Acciai Speciali Terni is back on the positive side: the company has in fact closed the fiscal year 2020-2021 with a net profit of EUR 53 million on turnover of over 2 billion euros, while the production recorded 1.79 million tonnes of liquid steel, a result that had not been achieved since 2013. Acciai Speciali Terni attributed that its performance improve especially in the second half of the fiscal year, although it had to face and manage a real storm that hit the raw materials and energy supply markets.
   
   Acciai Speciali Terni said "Today, demand is stimulating, with the exception of the automotive sector, which continues to be weak, and this has allowed the achievement of important production levels, with plants being fully used. Despite this, there have been significant improvements in productivity and quality, both internally and externally.”
   
   Acciai Speciali Terni also pointed out that even in a period of growing production, the high safety standards have guaranteed a minimum level of accidents and the achievement of the zero accidents milestone in four departments of the plant. In particular, in the last fiscal year, Acciai Speciali Terni recorded 13 injuries and today the company has an accident rate six times lower than the average of the Italian steel industry, recording the best performance ever of injury frequency index 3.3 versus 3.4 of the previous year.
7. voda 29 december 2021 06:59

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   JSW Group to Incentivize EV Purchases by Employees
   
   Strategic Research Institute
   Published on :
   29 Dec, 2021, 4:39 am
   
   JSW Group has announced an initiative to provide up to INR 300,000 incentive to its employees to buy four and two wheelers electric vehicles across India from 1 January 2022 to promote the adoption of electric vehicles across the group. JSW said “Aligned with India’s Nationally Determined Contributions and Sustainable Development Scenarios of The International Energy Agency, Mumbai-based multi-billion-dollar conglomerate The JSW Group has unveiled their latest Green initiative JSW Electric Vehicle Policy for its employees across India.”
   
   Apart from financial incentives, free of cost dedicated charging stations and green zones for electric vehicles will be provided at all JSW offices and plant locations for employees
   
   JSW Group has been adopting Best Available Technologies to improve climate impact performance. JSW Steel Ltd has adopted a specific climate change policy and set an ambitious CO2 emission reduction target of 42% over the base year of 2005 by 2030 (to a level 1.95tCO2/tcs). In India, JSW Steel is operating a Carbon Capture and Utilisation of 100TPD capacity where the captured and refined CO2 is used in the beverage industry.
8. voda 29 december 2021 07:00

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   ArcelorMittal Bremen Advances Hydrogen Production with Hybit
   
   Strategic Research Institute
   Published on :
   29 Dec, 2021, 4:45 am
   
   The next step in the restructuring of Bremen's steel industry has been taken: ArcelorMittal Bremen, swb AG and EWE AG want to jointly implement the largest industrial hydrogen project to date in Bremen. As part of the Hybit, Hydrogen for Bremen industrial transformation, project, the three companies are receiving funding of over 10 million euros from the State of Bremen to build an electrolysis plant, which corresponds to around half of the total investment budget. The project includes the construction of a 12 MW electrolysis plant that will use renewable energy to produce green hydrogen. The electrolysis capacity is to be gradually scaled up to up to 300 MW later. Ultimately, the overall requirement for climate-neutral steel production in Bremen is to be covered by expanding the pipeline infrastructure.
   
   The construction of the electrolysis plant marks the starting point for the use of green hydrogen in Bremen's steel production and is an important component of the transformation. ArcelorMittal Bremen will use the first hydrogen in the existing plants, the next stage will be the use of new production technologies so that ArcelorMittal Bremen can produce completely climate-neutral steel in Bremen by the mid-30s. A further expansion of the hydrogen capacity will be necessary for this.
   
   In the first phase of decarbonization, ArcelorMittal Flachstahl Deutschland intends to replace two blast furnaces in Bremen and Eisenhuttenstadt, thereby replacing the technology for the production of 3.6 million tonnes of steel with a process with a direct reduction system and a subsequent electric arc furnace. The complete conversion of this production to green hydrogen will result in savings of more than five million tons of CO2 per year. To this end, ArcelorMittal has submitted further applications for subsidies as part of the IPCEI program for large-scale hydrogen projects.
   
   swb and EWE are building the electrolysis plant in the joint venture Hydrogen Bremen GmbH at the Bremen-Mittelbüren power station, initially with an output of 12 MW. The installation takes place in an empty machine hall and in series of modules in order to guarantee the flexibility for an adaptation to future requirements.

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9. voda 29 december 2021 07:01

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   US Steel Imports in 2021 to Surge by 47% YoY
   
   Strategic Research Institute
   Published on :
   29 Dec, 2021, 4:47 am
   
   Based on preliminary Census Bureau data, the American Iron and Steel Institute reported that the US imported a total of 3,120,000 net tons of steel in November 2021, including 2,583,000 net tons of finished steel, up 13.9% and 9.6%, respectively, vs October final data. Through the first eleven months of 2021, total and finished steel imports are 29,681,000 net tons and 21,626,000 net tons, up 44.6% and 46.1%, respectively, vs. the same period in 2020. Annualized total and finished steel imports in 2021 would be 32.4 and 23.6 million net tons, up 47.1% and 46.2%, respectively, vs. 2020. Finished steel import market share was an estimated 27% in November and is estimated at 22% over the first eleven months of 2021.
   
   Key finished steel products with a significant increase in imports in November compared to October are heavy structural shapes (up 64%), sheets and strip all other metallic coatings (up 33%), cold rolled sheets (up 32%), hot rolled bars (up 29%), oil country goods (up 28%), sheets and strip galvanized hot dipped (up 27%) and tin plate (up 10%).
   
   Products with a significant year-to-date (YTD) increase vs. the same period in 2020 were hot rolled sheets (up 137%), plates in coils (up 109%), sheets and strip all other metallic coatings (up 66%), oil country goods (up 62%), cut lengths plates (up 60%), wire rods (up 60%), cold rolled sheets (up 41%), heavy structural shapes (up 31%), hot rolled bars (up 30%), sheets and strip hot dipped galvanized (up 29%), wire drawn (up 23%), reinforcing bars (up 23%), mechanical tubing (up 20%) and tin plate (up 13%).
10. voda 29 december 2021 07:22

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    Rio Tinto Invites WA Manufacturers to Build Iron Ore Rail Cars
    
    Strategic Research Institute
    Published on :
    29 Dec, 2021, 5:30 am
    
    Rio Tinto has called for Expressions of Interest from Western Australian manufacturers to build 100 rail cars for its Pilbara iron ore mining operations. The EOI callout follows Rio Tinto’s announcement in September it would look for opportunities for Western Australian suppliers to help grow the local rail car manufacturing industry and support local jobs.
    
    Rio Tinto will initially purchase 50 rail cars from the successful supplier, followed by an ongoing commitment of 10 rail cars a year for the next five years.
    
    The EOI supports the vision of the WA Government’s iron ore rail car action group, which was formed to develop Western Australia’s manufacturing capability and which Rio Tinto is a member.

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11. voda 29 december 2021 14:50

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    ArcelorMittal rondt aandeleninkoop af
    Voor 1 miljard dollar.
    
    (ABM FN-Dow Jones) ArcelorMittal heeft een aandeleninkoopprogramma ter waarde van 1 miljard dollar afgerond. Dit maakte de staalreus woensdagmiddag bekend.
    
    Onder dit programma, dat op 17 november werd aangekondigd, kocht ArcelorMittal bijna 34,1 miljoen eigen aandelen in. De aandelen werden ingekocht voor een gemiddelde prijs van 25,99 euro, waarmee het totaalbedrag uitkwam op 886 miljoen euro, ofwel een miljard dollar.
    
    Het aandeel ArcelorMittal handelde woensdagmiddag op 0,3 procent lager op 28,56 euro.
    
    Door: ABM Financial News.
    
    info@abmfn.nl
    
    Redactie: +31(0)20 26 28 999
12. voda 30 december 2021 06:40

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    OMK Ships Unique Expansion Joints for Rooppur NPP in Bangladesh
    
    Strategic Research Institute
    Published on :
    30 Dec, 2021, 4:52 am
    
    Russian United Metallurgical Company OMK has shipped a batch of 14 bellows expansion joints in December 2021 for the Rooppur nuclear power plant, which is being built by Rosatom in the Republic of Bangladesh. Eight expansion joints were delivered in a non standard design. The products were manufactured at the OMK Belgorod plant, Belenergomash BZEM. The designers of the enterprise have developed for ordering two types of balanced bellows expansion joints, which are used to level the shear displacements of pipelines. The first type of expansion joint, which was developed on the basis of the existing standard design, has a length of 1500 mm.
    
    For the second type, it was necessary to reduce the overall length of the finished product to 1000 mm. This problem was solved by abandoning heavy and oversized forgings in favor of blanks from heavy-plate metal rolling, which are used in the design of the finished product. As a result, the length of the expansion joint was reduced by a third up to 1000 mm.
    
    To confirm the required characteristics, two samples were made at the plant and tested at the stand of the Test Center for the production of bellows expansion joints of the Belgorod OMK plant. The head samples successfully withstood all loads - cyclic, axial, shear displacements. After tests at the plant, a batch of bellows expansion joints was manufactured, which were handed over to representatives of authorized organizations without any complaints.
    
    All expansion joints were covered with green organ silicate enamel. It has high radiation resistance, is resistant to decontamination solutions and is capable of withstanding hot steam with temperatures up to 300 degrees Celsius.
13. voda 30 december 2021 06:41

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    Ampco Pittsburgh Names Mr Anderson as President Air & Liquid
    
    Strategic Research Institute
    Published on :
    30 Dec, 2021, 4:56 am
    
    Ampco-Pittsburgh Corporation has announced the appointment of Mr David G Anderson as President of Air & Liquid Systems Corporation, a wholly-owned subsidiary of Ampco-Pittsburgh, effective 1 January 2022. Mr Anderson succeeds Mr Terrence W Kenny, who has served as Air & Liquid Systems' President since 2010 and has announced his retirement.
    
    Mr Anderson brings over 32 years of experience in finance and operations leadership to his role at Air & Liquid Systems, most recently serving as Vice President of Finance for Union Electric Steel Corporation, a wholly-owned subsidiary of Ampco-Pittsburgh. Before this position, Mr Anderson was Vice President of Air & Liquid Systems.
    
    Ampco-Pittsburgh Corporation manufactures and sells highly engineered, high-performance specialty metal products and customized equipment utilized by industry throughout the world. Union Electric Steel Corporation, it is a leading producer of forged and cast rolls for the global steel and aluminum industry. It also manufactures open-die forged products that principally are sold to customers in the steel distribution market, oil and gas industry, and the aluminum and plastic extrusion industries. The Corporation is also a producer of air and liquid processing equipment, primarily custom engineered finned tube heat exchange coils, large custom air handling systems, and centrifugal pumps. It operates manufacturing facilities in the United States, England, Sweden, Slovenia, and participates in three operating joint ventures located in China.
14. voda 30 december 2021 06:41

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    TMK Upgrading Air Purification at Pervouralsk Novotrubny Plant
    
    Strategic Research Institute
    Published on :
    30 Dec, 2021, 4:59 am
    
    Russian Pipe Metallurgical Company TMK’s Pervouralsk Novotrubny Plant, PNTZ, has begun to upgrade equipment for air purification at production sites. Modern gas and dust collecting plants of three types with a filtration coefficient from 85 to 99% were put into operation in three workshops of PNTZ. Three installations were launched in the pipe drawing shop, each with a capacity of up to 15,000 cubic meters per hour. Fully automated equipment cleans the air from solid particles formed during the production process, settles them on the filter walls, places them in sealed receiving bins, and then returns the cleaned air to the working room. The collected dust is disposed of in a special landfill in accordance with all environmental standards. In two other workshops, three more units were launched, which also guarantee a high degree of dust removal and, at the same time, do not provide for the return of purified air to the working area.
    
    The new equipment is designed with the best available technology in mind, which minimizes dust formation, eliminates emissions into the atmosphere, improves working conditions for employees, as well as obtain an economic effect by reducing electricity consumption. In the future, it is planned to equip five more workshops with similar efficient air purification systems
    
    Earlier, PNTZ replaced the bag filters of gas treatment facilities - the units allow capturing 99.9% of solid particles in the process gases generated during production, ensuring their purification in accordance with Russian and European environmental standards. Also, the enterprise has installed an automated control system for atmospheric emissions, which continuously analyzes the maximum permissible concentration of emissions of nitrogen oxide and dioxide, carbon monoxide, sulfur dioxide, suspended solids, volume fractions of separated water, oxygen, temperature, absolute pressure, speed and flow rate of flue gases.
15. voda 30 december 2021 06:42

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    UK Steel Industry Unions Warn of Slump in US Steel Trade
    
    Strategic Research Institute
    Published on :
    30 Dec, 2021, 5:06 am
    
    The Guardian reported that UK’s steel industry is braced for an immediate slump in trade from January 2022 when European Union rivals will gain a 25% price advantage selling to the giant US market. UK Steel Director General Mr Gareth Stace said “UK steel exports to the US have halved since President Trump introduced steel tariffs in 2018. There can be no doubt these measures have significantly harmed the UK’s interests in its second biggest steel export market. Whilst we welcome the move by the US to start easing its tariffs, without a UK deal in very quick succession, our export position will only deteriorate further. It is essential that the government strains every sinew to secure a deal and ensure that UK steelmakers are able to sell their steel into the United States.”
    
    Trade union Unite’s national officer for steel Mr Harish Patel said the government needed to explain why the EU had a deal but the UK did not, amid reports that the US was holding back over the UK’s threats to unilaterally change post-Brexit trading rules governing Northern Ireland. Mr Patel said “It is alarming that British-produced steel is being effectively locked out of the critical steel market, as the continuing tariffs make EU steel considerably cheaper. The government has to sort this matter out quickly. Unless the tariffs are speedily lifted, hundreds of jobs in the steel and associated industries, most of them in so-called red wall seats, are at risk.”
    
    The EU and the US reached a Halloween agreement to remove tariffs on a quota of steel and aluminium imported from the bloc into the US from 1 January, but tariffs will remain on all UK steel and aluminium exports after government talks failed to secure a matching breakthrough.
16. voda 30 december 2021 06:43

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    MMK Improves Efficiency of Production & Economic Planning
    
    Strategic Research Institute
    Published on :
    30 Dec, 2021, 5:09 am
    
    Russian steel maker Magnitogorsk Iron and Steel Works and GMCS have launched an important project to modernize the optimization planning system for production and economic activities of PJSC MMK and the companies of the PJSC MMK Group. The goal of the project is to build a new optimization planning model based on a unified platform IBM ILOG and IBM Planning Analytics and to obtain additional business benefits from improving planning processes. The synthesis of highly intelligent mathematical tools with improved business processes, provided during the project, will increase the efficiency of the production and economic activities of the enterprise. In turn, an increase in production and sales efficiency inevitably leads to an improvement in the company's financial performance.
    
    Modernization of the optimization planning system will shorten the planning business cycle, ensure seamless integration with the budgeting system and other MMK subsystems, and provide the ability to quickly generate analytical reports with drill down.
    
    The project is designed for 12 months. The launch of the modernized system of optimization planning of production and economic activities of PJSC MMK and the companies of the PJSC MMK Group into commercial operation is planned in the fall of 2022.
    
    GMCS is one of the leaders in the IT market in the implementation of business solutions and software development. Included in the TOP-100 of the largest IT companies in Russia, GMCS is a reliable guide to digital transformation that helps businesses achieve more using technologies from leading global and Russian suppliers, as well as proprietary products VerEx Platform.
17. voda 30 december 2021 06:43

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    Ukraine Increases Steel Scrap Export Duty to EUR 180
    
    Strategic Research Institute
    Published on :
    30 Dec, 2021, 5:13 am
    
    Ukraine’s Parliament Verkhovna Rada has passed an amendment to increased scrap export duty from EUR 58 per tonne to EUR 180 per tonne, for preventing scrap deficit in the domestic market. Earlier, Ukraine’s Ministry of Economy had developed and submitted for consideration to the Cabinet of Ministers a draft law on increasing the export duty to EUR 200 per tonne. However, on 10 November, the Cabinet returned this document to the Ministry of Economy.
    
    Ukrainian steel producers have advocated a ban on scrap exports until 2023 to maintain sustainable operations of Ukrainian companies. In turn, associations of scrap collectors opposed the initiative. Specifically, UAVtormet insisted on an objective examination of the ban’s implications for the scrap collection market.
    
    Over the past few years, Ukraine applied a scrap export duty of EUR 58 per tonne. In May 2021, President of Ukraine Mr Volodymyr Zelenskyi had extended the applicable scrap export duty for another five years, until 15 September 2026.

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18. voda 30 december 2021 06:44

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    Central Government Reconfirms Plans for Privatization of RINL VSP
    
    Strategic Research Institute
    Published on :
    30 Dec, 2021, 5:19 am
    
    YO Vizag reported that India’s Union Minister of Steel Mr Ramachandra Prasad Singh has conveyed the Central Government’s stance in a written reply to the questions of the MPs raised in both the houses during the ongoing winter session of the Parliament. Steel Minister noted that Visakhapatnam Steel Plant privatization is a policy decision of the Union Government and is one amongst the other manufacturing units PSUs that are being privatized. He added that privatization would lead to major big players investing in the steel sector and this, in turn, will lead to growth in job opportunities.
    
    The Central Government decided to divest 10% of its stake via Initial Public Offering, which eventually did not materialize. After which, government decided to privatize 100% of its holdings. On 27 January 2021, the Cabinet Committee on Economic Affairs gave in principle the approval to privatize Rashtriya Ispat Nigam Limited. On 4 February 2021, the Union Cabinet finalized the privatization. Department of Investment and Public Asset Management website lists RINL under “EOI in Pipeline. On 7 July 2021, the Central Government invited tenders from merchant bankers and legal advisors to execute strategic privatization.
    
    History of RINL - The decision to establish a Steel Plant at Visakhapatnam was announced in the Parliament in 1970 by the then Prime Minister Late Ms Indira Gandhi. The foundation stone for this massive project was laid in 1971. The Detailed Project Report was prepared in 1977. However, it was only in 1979 with the Government of erstwhile Soviet Union offering techno-economic cooperation, the cabinet approved the proposal for setting up of an integrated Steel Plant at Visakhapatnam. Following this, the comprehensive Revised Detailed Project Report was prepared adopting latest technologies available. However, the journey of Vizag Steel has not been very smooth. 22 long years between conception and commissioning resulted in an increase of project cost to over INR 8,500 crores. Visakhapatnam Steel Plant was initially set up with a rated capacity of 3.4 million tonnes of Hot Metal, 3.0 million tonnes of Liquid Steel and 2.7 million tonnes of Saleable Steel. RINL has completed the first phase of expansion to increase Hot Metal capacity to 6.5 million tonnes, Liquid Steel to 6.3 million tonnes & Saleable Steel to 5.7 million tonnes. RINL has started second phase of expansion to increase Liquid Steel capacity to 7.3 million tonnes by modernization & up gradation of existing iron & steel making units.
19. voda 30 december 2021 06:46

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    • voda

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    Coal Ministry Stepping up Washed Coking Coal Supplies 5 Fold
    
    Strategic Research Institute
    Published on :
    30 Dec, 2021, 5:23 am
    
    India's Coal Ministry in a release mentioning developments in 2021, highlighted government plans to increase the supply of washed coking coal to the Steel sector from 3 million tonnes to 15 million tonnes. For this, two coking coal washeries have already been commissioned, three coking coal washeries are under construction, in two cases Letter of Intent have been issued and in one case the tender is under evaluation.
    
    Out of a total of nine coking coal washeries:
    
    Two coking coal washeries constructed and operational
    
    Four under construction (3 Coking & 1 Non-coking)
    
    LoI & WO issued for two washeries
    
    One tendered and bid opened & price bid under evaluation
    
    Three more coking coal washeries in the 2nd Phase
    
    For Non-coking coal washeries, one non-coking coal Washery is under construction and in two cases of non-coking coal washeries, LoI has been issued.
20. voda 30 december 2021 06:46

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    • voda

      Lid sinds: 02 dec 2005

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    Russian Watchdog Finds Law Viollation by MMK, NLMK & Severstal
    
    Strategic Research Institute
    Published on :
    30 Dec, 2021, 5:26 am
    
    Russia's Federal Antimonopoly Service has preliminary concluded that starting in January 2021 Severstal, Magnitogorsk Iron & Steel Works and Novolipetsk Steel established and maintained monopolistic high prices for hot-rolled flat products on the domestic market. Federal Antimonopoly Service said “Starting from January 2021, companies' prices for hot-rolled flat products have increased disproportionately to the changes in the costs which Severstal, MMK and NLMK required for the production of products. Therefore the actions of manufacturers with a dominant position on the market may lead to restriction of competition.”
    
    Federal Antimonopoly Service had launched cases against MMK, NLMK and Severstal in April 2021 suspecting that they maintained monopolistically high prices on the flat-rolled steel market. FAS said “Given that signs of violating the anti-monopoly legislation were unveiled in the actions of the companies that are rivals on the market of hot-rolled products, Russia’s FAS has launched separate cases against each company. This type of inquiry will prevent the rival companies from getting access to each other’s commercial information, and coordinating their positions and actions. These producers may face turnover-based fines if the fact of a violation is established.”
    
    The audit came on the heels of a statement that the service had received pointing to unreasonable price hikes for hot-rolled flat products. According to the FAS, the price hikes surged faster than those of commodity costs. "The demand from Russian consumers did not soar, which consequently could not trigger an increase of prices by more than 50% in the first half of 2021
    
    The agency has also already recognized Steel Industrial Company, Service Center for Rolled Metal Products, Stroytekhtsentr, A Group, Uralmetallstroy, Procurement and Supply Department and the Kraso metal trading company guilty of cartel conspiracy in the metal rolling market, determining that they supported prices in the auction with an aggregate starting price of 2.7 billion rubles.