ArcelorMittal LU1598757687

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1. voda 5 mei 2022 06:49

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   SAIL RSP Achieves 11% YoY Growthin Crude Steel Production in April
   
   Strategic Research Institute
   Published on :
   05 May, 2022, 6:22 am
   
   Steel Authority of India Limited's Rourkela Steel Plant has achieved crude steel production of 329,037 tonnes in April 2022, up 11.4% YoY. RSP has also reported saleable steel production of 293,140 tonne in April 2022, up 6.6% YOY
   
   SAIL RSP has performed exceedingly well in production, productivity, techno-economics and profitability in the last fiscal and hadt registered an all time highest production of hot metal, crude steel and saleable steel in FY 2021-2022.
   
   Hot Metal – 4.337 million tonnes
   
   Crude Steel – 3.987 million tonnes
   
   Saleable Steel – 3.666 million tonnes
2. voda 5 mei 2022 06:52

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   Liberty Steel & Wire Orders Mill Pulse for Peoria Wire Rod Mill
   
   Strategic Research Institute
   Published on :
   05 May, 2022, 6:27 am
   
   Peoria Illinois US based Liberty Steel & Wire has placed an order with Russula for the full Mill Pulse suite, the Russula solution for Manufacturing Execution Systems, designed exclusively for rolling steel. The MES solution is framed within the broader scope of an electrical and automation upgrade for the two-strand wire rod mill, which will improve mill performance, plant-wide information gathering, and reporting.
   
   Mill Pulse will enable Liberty Steel & Wire to organize plant production and tracking, manage raw materials and finished products, collect and control data, reporting, and KPI monitoring. It will provide Liberty with a simple, consistent, and intuitive tool for pacing production; having a global view of production pace provides an efficiency goal for the rolling mill staff to achieve the final customer demand. Mill Pulse will also simplify the internal change over or setup procedure, eliminating nonessential operations, creating standardized work orders and checklists assigned to user roles within the Mill Setup.
   
   The Mill Pulse MES will interface with the new Russula automation system. Commissioning is scheduled for the last quarter of 2022.
   
   The Peoria Illinois facility is one of the largest wire and rod mills in the USA, producing 700,000 tons of steel each year.
3. voda 5 mei 2022 06:53

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   UK’s FRC Opens Probe in Accounts of 4 Liberty Steel Firms
   
   Strategic Research Institute
   Published on :
   05 May, 2022, 6:30 am
   
   Britain’s accounting watchdog The Financial Reporting Council has opened four investigations into the audits by the firm King & King of four companies owned by Mr Sanjeev Gupta under the Liberty Steel banner following calls from MPs for the FRC to refer the auditors for investigation. The Financial Reporting Council has commenced four investigations in relation to the statutory audits by King & King of
   
   1. Consolidated financial statements of Liberty Speciality Steels Limited for the year ended 31 March 2019
   
   2. Financial statements of Alvance British Aluminium Limited, formerly Liberty Aluminium Lochaber, for the year ended 31 March 2019
   
   3. Financial statements of Liberty Steel Newport Limited for the year ended 31 March 2019
   
   4. Financial statements of Liberty Performance Steels Limited for the year ended 31 March 2020
   
   The decisions were made at a meeting of the FRC’s Conduct Committee on 22 February 2022. The investigations will be conducted by the FRC’s Enforcement Division under the Audit Enforcement Procedure.
   
   The Financial Reporting Council however said “This Press Notice concerns the opening of an investigation into the relevant Statutory Auditor(s). The investigation does not relate to any persons other than the relevant Statutory Auditor(s) and it would not be fair to treat any part of this announcement as constituting or evidencing an investigation into any other persons or entities.”
   
   A GFG spokesperson said that none of the alliance’s entities or individuals were the subjects of the FRC investigation. He said “We recognise the importance of strong audit practices and have been evolving our corporate structure and governance as we continue our efforts to restructure and refinance our portfolio.”
   
   A scathing report by a group of MPs into Gupta and his metals empire released last November last year flagged several areas of concern, including Liberty Steel’s audits. They also called on Gupta to be investigated for potential breaches of his duties as a company director. The MPs on the business select committee said they had found weaknesses in audit, adding that frequent changes of auditors and accounting deadlines represented red flags. The committee’s report found that the small audit firm King & King had a lack of capacity to complete audits effectively.
   
   Recently, investigators from the Serious Fraud Office requested documents and questioned executives at the UK offices of companies owned by Mr Gupta. The SFO is investigating suspected fraud, fraudulent trading and money laundering in relation to GFG and Greensill Capital. It came after French prosecutors raided the Paris offices of GFG Alliance as part of an investigation into allegations of misuse of corporate assets and money laundering.
   
   Liberty Steel has been facing growing troubles since its key financial backer, Greensill Capital, collapsed in March 2021, sparking an ongoing attempt for it to find new lenders. Mr Gupta controls Liberty Steel through GFG Alliance, an informal group of metals and energy companies that employs as many as 35,000 people worldwide, including about 3,000 in UK steel. His main British assets are a series of steel plants under the Liberty Steel name, including large operations at Rotherham and Stocksbridge in South Yorkshire and smaller facilities in Wales and the Midlands, as well as an aluminium smelter in Scotland.
   
   Offices of Liberty Steel faced visits from Serious Fraud Office investigators last week as part of a probe into suspected fraud and money laundering by parent firm GFG Alliance.
4. voda 5 mei 2022 06:53

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   Metalloinvests Mr Usmanov Files Case over EU Sanctions in
   
   Strategic Research Institute
   Published on :
   05 May, 2022, 6:37 am
   
   Russian Oligarch & majority owner of Russian steel maker & miner Metaloinvest Mr Alisher Usmanov has appealed the European Union’s decision to impose strict sanctions on him in response to Russia’s invasion of Ukraine by filing a case against European Council vide Case T-237/22 on 29 April 2022 in Luxembourg-based European Court of Justice.
   
   EU had imposed restrictive measures on 28 February against a number of Russian state and public figures and entrepreneurs as a consequence of Russia's actions in Ukraine. These included Metalloinvest founder Mr Alisher Usmanov. Metalloinvest had said “The restrictive measures imposed against Usmanov are of a personal character and will not affect Metalloinvest. Mr Usmanov owns less than 50% of USM Group, which holds 100% of Metalloinvest, and does not control the group's enterprises. USM is a diversified Russian holding company with significant interests across the metals and mining, telecoms, technology and internet sectors. The EU sanctions listed against Usmanov do not extend to USM companies, including Metalloinvest.”
   
   However, world’s largest yacht was confiscated by German Federal Criminal Police Office in mid April. Ms Gulbakhor Ismailova, sister of Mr Alisher Usmanov, was identified as the mega boat’s owner. The luxurious boat, known as Dilbar, was officially captured after police verified with officials in Brussels that the owner had been sanctioned. The superyacht, which weighs 15,917 tonnes and is described by its maker as one of the most complex and challenging yachts ever built, is docked in Hamburg in Germany. The Dilbar, which was christened after Mr Usmanov’s mother and is registered in the Cayman Islands, is valued at USD 600-735 million. The boat has two helipads and one of the world’s largest indoor pools ever installed on a yacht. The ship’s annual operating costs are anticipated to be USD 60 million. Not taking any chances after Dilbar was seized, Mr Usmanov rushed his smaller superyacht Alaiya to the Maldives to avoid capture. The vessel has currently docked in Male in Maldives. The 365-foot Alaiya was formerly known as Lady Gulya and can house 18 guests in 9 staterooms. Lürssen-built Alaiya was delivered in 2019, with her interior and exterior done by London-based Winch Design.
   
   Russia is famous for its oligarchs, who emerged in the wake of the dissolution of the USSR, which saw accumulation of fabulous wealth in the hands of a few. Many of these individuals went on to become some of the richest and most influential individuals in Russia, often having significant political power as well. The Russian steel sector is dominated by them
   
   Mr Vladimir Lisin (NLMK) – 17.4 million tonnes
   
   Mr Roman Abramovich (EVRAZ) - 13.6 million tonnes
   
   Mr Alisher Usmanov (Metalloinvest) – 4.8 million tonnes
   
   Mr Viktor Rashnikov (MMK) - 11.6 million tonnes
   
   Mr Alexey Mordashov (Severstal) - 11.3 million tonnes
   
   Mr Igor Zyuzin (Mechel) – 3.5 million tonnes
   
   Mr Alisher Usmanov - With a net worth of USD 15 billion, Mr Usmanov is the fifth-richest individual in Russia. Mr Usmanov holds a 49% stake in USM Holding, a Russian investment company. Through USM Holding, he controls Metalloinvest, Russia’s largest iron ore producer and MegaFon, the second-largest mobile phone operator and the third-largest telecom operator in Russia. Mr Usmanov also controls Kommersant, a leading Russian daily, and also holds stakes in JD.Com and Uber Technologies. Other than his sprawling superyachts and massive airbus, Usmanov owns a 32,500-square foot house in London, worth an estimated USD 63 million, and a 16th-century manor house.
5. voda 5 mei 2022 06:54

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   Mr TV Narendran Expects Elevated Steel Prices in Apr-Jun Quarter
   
   Strategic Research Institute
   Published on :
   05 May, 2022, 6:39 am
   
   Financial Express reported that Tata Steel CEO and managing director Mr TV Narendran told Financial Express’s Ms Shubhra Tandon in an interview that the growth momentum should sustain as demand fundamentals remain strong across automotive, construction and infrastructure segments, while commodity prices will remain at elevated levels for sometime.
   
   He told “We had given a guidance of INR 3,500 per tonne drop in prices from the December quarter but eventually we ended up with about INR 1,500 drop. So, the steel prices were better than we had anticipated in Q4 compared to Q3. In Europe, the big difference was that we got our new contracts in auto and other segments which were negotiated in November-December, so the revenues were on the higher side. As far as first quarter of this year is concerned, we expect in India the prices to be INR 8,000-8,500 per tonne higher than fourth quarter which will cover the cost increases that we are facing due to high coal prices, and similarly in Europe it will be higher by EUR 60 per tonne than in Q4.”
   
   He also said “If people think coal and steel prices to go back to where they were 5-10 years back, that will not happen. So, it will settle at a much higher level and continue to be volatile. We have seen coking coal prices at USD 50 around 15 years back. You will never see that and then we thought USD 100-150 was the new normal, and then started getting used to USD 300. At one point, USD 400 was thought to be the highest ever. So, I think we should get used to a higher level than we have been used to in the past. Very few people are investing in coal, but demand continues to grow as steel production increases and that is an issue as well. I expect the prices to stay at higher levels for sometime.”
6. voda 5 mei 2022 07:22

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   Meevallende winst voor ArcelorMittal
   Op jaarbasis stevige stijging EBITDA.
   
   (ABM FN-Dow Jones) ArcelorMittal heeft in het eerste kwartaal van 2022 meer winst geboekt dan een jaar eerder, maar op kwartaalbasis was er sprake van een pas op de plaats. Dit bleek donderdagochtend uit de kwartaalcijfers van de staalreus.
   
   CEO Aditya Mittal zei dat de prestaties in het eerste kwartaal werden overschaduwd door de oorlog in Oekraïne, wat terug te zien was in en lagere verschepingen van staal. Die lagen bijna 3 procent lager dan in het vierde kwartaal. Daar stonden per saldo 5 procent hogere prijzen tegenover.
   
   De marktomstandigheden zijn sterk, merkte hij ook op. Wel zal de staalconsumptie dit jaar iets dalen ten opzichte van 2021. "Desalniettemin is het duidelijk dat de lange termijn fundamenten voor staal positief zijn."
   
   ArcelorMittal boekte afgelopen kwartaal een EBITDA-resultaat van 5,1 miljard dollar. Dat is gelijk aan de 5,1 miljard dollar in het vierde kwartaal van 2021, maar veel meer dan de 3,2 miljard dollar in het eerste kwartaal van 2021.
   
   Analisten die bijdroegen aan de bedrijfsconsensus rekenden gemiddeld op een EBITDA in het eerste kwartaal van 4,6 miljard dollar.
   
   Op een omzet van 21,8 miljard dollar behaalde de staalreus een nettowinst van 4,1 miljard dollar. In het eerste kwartaal van 2021 boekte ArcelorMittal een omzet van 16,2 miljard dollar en een winst van 2,3 miljard dollar.
   
   Outlook
   
   Exclusief China groeit de wereldwijde vraag naar staal volgens ArcelorMittal dit jaar niet met 2,5 tot 3 procent, zoals eerder voorzien, maar wordt rekening gehouden met een plus van maximaal 0,5 procent of een krimp van 0,5 procent.
   
   Bij de jaarcijfers zei ArcelorMittal nog dat het voor 2022 op een "sterke" EBITDA en vrije kasstroom rekende.
   
   Door: ABM Financial News.
   
   info@abmfn.nl
   
   Redactie: +31(0)20 26 28 999
7. voda 5 mei 2022 08:13

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   ArcelorMittal koopt meer aandelen in
   Tweede programma van 1 miljard dollar.
   
   (ABM FN-Dow Jones) ArcelorMittal gaat dit jaar nog eens voor 1 miljard dollar aan eigen aandelen inkopen. Dat kondigde het staalconcern donderdag aan.
   
   Het aanvullende programma brengt het totale bedrag voor dit jaar op 2 miljard dollar. Het inkoopprogramma zal naar verwachting voor het einde van het jaar afgerond zijn, afhankelijk van marktomstandigheden.
   
   ArcelorMittal zal de ingekochte aandelen gebruiken om te voldoen aan de verplichtingen van converteerbare obligaties, voor beloning van medewerkers in aandelen en om het uitstaande aandelenkapitaal te verkleinen en zo de winst per aandeel te vergroten.
   
   Door: ABM Financial News.
   
   info@abmfn.nl
   
   Redactie: +31(0)20 26 28 999
8. voda 5 mei 2022 08:54

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   Beursblik: meevallende winst ArcelorMittal
   Ook schuldreductie pluspunt volgens Jefferies.
   
   (ABM FN-Dow Jones) ArcelorMittal heeft in de eerste drie maanden van 2022 meer winst behaald dan voorzien. Dit concludeerde analist Alan Spence van Jefferies donderdag.
   
   De EBITDA van 5,1 miljard dollar lag 14 procent hoger dan de analist had verwacht. Ook was dit 11 procent meer dan de analistenconsensus. De vrije kasstroom van 1,5 miljard dollar was eveneens een meevaller. "Dat zorgde voor een veel betere schuldreductie", concludeerde de bank. De schuld van 3,2 miljard dollar "lag 40 procent onder onze taxaties".
   
   Tevens wees Spence erop dat ArcelorMittal de inkoop van eigen aandelen naar 2 miljard dollar. Dat is iets meer dan de consensus had voorzien, maar wel minder dan waarop Spence had gerekend.
   
   Jefferies heeft een koopadvies op ArcelorMittal met een koersdoel van 44,00 euro.
   
   Door: ABM Financial News.
   
   info@abmfn.nl
   
   Redactie: +31(0)20 26 28 999
9. voda 5 mei 2022 11:34

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   Advies van Goldman Sachs over Arcelor Mittal
   Beurshuis Goldman Sachs
   Aandeel ArcelorMittal
   Datum 05 mei 2022
   Advies Neutraal
   Koersdoel 35,00 EUR
   
   Detail advies
   LONDON (Trivano.com) - Op 5 mei 2022 hebben de analisten van Goldman Sachs hun beleggingsadvies voor ArcelorMittal (MT; ISIN: LU1598757687) herhaald. Het advies van Goldman Sachs voor ArcelorMittal blijft "neutraal".
   
   De analisten behouden hun koersdoel van 35,00 EUR.
   
   Op 5 mei 2022 publiceerde ArcelorMittal kwartaalcijfers.
10. Realistisch observeren 5 mei 2022 12:09

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    Ik denk dat Goldman Sach het handelshuis is dat de koers drukt.
    Alle seinen waren beter dan verwacht volgens de analist van GS.
    Vreemd (of toch niet) dat men dan het advies handhaaft op neutraal.
    Ter indicatie koers nu euro 27,3 met een koersdoel van deze club van euro 35,00 betekent een potenmtiele groei van 28% op huidige koers.
    Zodra zij voor hun klanten de aandelen hebben aangekocht gaat hun advies omhoog.
    Wellicht vanmiddag na 15:30 als zij gaan kopen in de USA.
    De grote partijen bepalen de koers.
11. voda 6 mei 2022 07:14

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    ArcelorMittal Reports USD 5.1 Billion EBIDTA for Jan-Mar Quarter
    
    Strategic Research Institute
    Published on :
    06 May, 2022, 6:42 am
    
    Global steel giant ArcelorMittal has reported operating income of USD 4.4 billion & EBITDA of USD 5.1 billion in Januay-Mach 2022 quarter. ArcelorMittal Chief Executive Officer Mr Aditya Mittal said “Our first quarter performance was overshadowed by the war in Ukraine. Our focus has been on providing support to our 26,000 colleagues and their communities at a time of tragedy and hardship. Notwithstanding this backdrop, further aggravated by rising inflationary pressures across the world, ArcelorMittal produced a strong first quarter performance. This is testimony to the resilience of our business model, characterized by diversity of geography, product category and vertical integration.Our performance continues to be supported by consistent execution against our strategy.”
    
    January-March 2022 Quarter
    
    -----------------------------------
    
    Sales - USD 21,836 million, up 5% QoQ
    
    Operating income – USD 4,433 million, down 3% QoQ
    
    EBITDA – USD - 5,080 million, up 1% QoQ
    
    EBITDA per tonne – USD 331 per tonne, up 3% QoQ
    
    Crude steel production - 16.3 million tonne, down 1% QoQ
    
    Steel shipments - 15.3 million tonne, down 3% QoQ
    
    Total group iron ore production – 12 million tonne, down 10% QoQ
    
    Steel Operating Results
    
    ------------------------------
    
    Europe: USD 289 per tonne EBITDA, up19.1% QoQ due to a positive price-cost effect with higher contract pricing more than offsetting higher raw material costs
    
    NAFTA: USD 467 per tonne EBITDA, up 9.0% QoQ primarily due to higher shipment volumes
    
    ACIS: USD 186 per tonn EBITDA, down-30.8% QoQ primarily due to lower steel shipments, largely reflecting the impact of the war in Ukraine, and higher costs
    
    Brazil: USD 241 pr tonne EBITDA, down 23.1% QoQ primarily due to a negative price-cost effect
    
    Market conditions supportive
    
    ¦ Pace of the real demand recovery has moderated: non-automotive demand continues to recover whilst supply chain effects have continued to impact automotive
    
    ¦ Supply/clemand has tightened: reflecting the implications on supply from the Russia-Ukraine conflict
    
    ¦ Positive steel spread evolution: steel prices have risen to reflect tightening markets
    
    ¦ Uncertainties and risks to the outlook have increased:
    
    • Duration of tie Russia-Ukraine conflict and the risks to energy prices
    
    • Implications of higher energy prices on econo me activity and consumer confidence, particularly in the EU
    
    • Implications of COVID19 on the China economy and the extent to Miich this wil be offset by stimulus actions
    
    ¦ Long term fundamentals intact: given the structural changes to supply and steel's inherent role in the transition to a low carbon, circular economy
    
    Mr Mittal said “Market conditions are currently very strong although we are now anticipating apparent steel consumption to contract slightly this year compared with 2021. Nevertheless, it is clear that the longer-term fundamental outlook for steel is positive. China’s focus on decarbonization and removal of VAT-rebates on steel exports are encouraging; so too are the actions taken by governments to protect against the threats of unfair trade. And we know that steel will play a critical and vital role in the transition to a decarbonized and circular economy, there is no substitute.”
    
    However, ArcelorMittal expects 2022 global steel consumption to contract by 0-1% as Russia's military invasion of Ukraine disrupts supply chains, stoking inflation, while China's COVID-19 lockdowns dampen economic activity, as against ealier view of 0-1% growth. ArcelorMittal expects steel consumption in Europe to decline by 2-4% in 2022, as compared with its prior outlook for a 0-2% growth, due to the negative impact of rising inflation. The company is forecasting demand in the Commonwealth of Independent States, which include Ukraine, to slump 10% during the year, compared with a prior estimate of 0-2% growth.ArcelorMittal has estimated China's full-year demand toward the bottom end of its previous forecast of 0-2% growth because of stringent coronavirus-led lockdowns in the country.The company continues to expect India to grow at 6-8% in 2022, the US at 1-3% and Brazil to contract by 8-10%.
12. voda 6 mei 2022 08:25

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    UK Freezes Russian Steel Maker Evraz’s Assets
    
    Strategic Research Institute
    Published on :
    06 May, 2022, 6:33 am
    
    UK’s Foreign, Commonwealth & Development Office announced that the UK Government has sanctioned Evraz plc as steel manufacturing and mining company operates in sectors of strategic significance to the Government of Russia and produces 28% of all Russian railway wheels and 97% of rail-tracks in Russia, which Russia uses rail to move key military supplies and troops to the frontline in Ukraine. Along with existing measures, this action will further deter companies operating in strategic sectors in Russia. The asset freeze means no UK citizen or company can do business with them. Evraz plc’s core operations are in Russia where they are a major employer. These sanctions will further chip away at Putin’s financial reserves and siege economy, and support Ukraine’s continued resistance.
    
    Evraz’s registered office is in London’s Mayfair district, but it has vast mining and steelmaking operations in Russia, with more than 70,000 employees.
    
    Evraz's main shareholder is Russian oligarch Mr Roman Abramovich, who is already under sanctions, and its main operations are in Russia. Mr Roman Abramovich – With estimated wealth of USD 14 billion, Mr Abramovich owns stakes in steel giant Evraz, Norilsk Nickel and the vast majority of the UK's Chelsea FC soccer team. Mr Abramovich spent UD 2.5 billion in the Chukotka region where he worked as governor and chairman of the local Duma from 2001 to 2013. It was a shock then to see Mr Abramovich relinquish the care and stewardship of the Chelsea FC club on Saturday evening amid the ongoing conflict between Russia and Ukraine.
    
    Russia is famous for its oligarchs, who emerged in the wake of the dissolution of the USSR, which saw accumulation of fabulous wealth in the hands of a few. Many of these individuals went on to become some of the richest and most influential individuals in Russia, often having significant political power as well. The Russian steel sector is dominated by them
    
    Mr Vladimir Lisin (NLMK) – 17.4 million tonnes
    
    Mr Roman Abramovich (EVRAZ) - 13.6 million tonnes
    
    Mr Alisher Usmanov (Metalloinvest) – 4.8 million tonnes
    
    Mr Viktor Rashnikov (MMK) - 11.6 million tonnes
    
    Mr Alexey Mordashov (Severstal) - 11.3 million tonnes
    
    Mr Igor Zyuzin (Mechel) – 3.5 million tonnes
13. voda 6 mei 2022 08:26

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    EUROFER Warning of Recession Cuts Steel Consumption View for 2022
    
    Strategic Research Institute
    Published on :
    06 May, 2022, 6:23 am
    
    European Steel Association EUROFER announced that the positive trend in steel demand & apparent steel consumption observed in the first three quarters of 2021 persisted in the fourth quarter, although at a slower pace. At the same time, throughout 2021 EU steel imports increased massively by 32%. However, soaring energy prices, ongoing disruptions in global supply chains & the shock due to the war in Ukraine are set to weigh heavily on the outlook for 2022, potentially resulting in the third contraction of steel consumption by 1.9% over the past four years. EUROFER Director General Mr Axel Eggert said “The evolution of the steel market for 2022 and 2023 remains subject to a high level of uncertainty, which is likely to continue to undermine demand from steel-using sectors. In the current context, amidst a worsening energy crisis and shortages in raw materials, we cannot exclude a new recession or a stagflation scenario.”
    
    EUROFER said “Steel consumption strongly rebounded in 2021 by 15.2%, after the deep slump of 10.7% experienced in 2020 caused by the pandemic. However, this trend is expected to reverse in 2022 with a new recession, albeit milder at negative 1.9%, followed by recovery in 2023 by 5.1%. High uncertainty is set to last at least until the end of 2022, subject to developments around of Russia’s invasion of Ukraine, which as of now remain unpredictable, and its consequences on global supply chains.”
    
    EUROFER said “Despite soaring energy prices over the second half of the year, component shortages and lower output weighing in particular on the automotive sector, total output in steel-using sectors in 2021 marked a rebound of 7.3% after the pandemic de growth of 8.4% in 2020. However, it considerably slowed down in the fourth quarter to 0.7% and in the third to 2.2%, after the rally in the second at 26.3%. The rapid deterioration of the global situation following Russia’s invasion of Ukraine has cast further shadows on the steel-using industries’ outlook. As a result, growth in output is expected to be halved in 2022 to 2% as compared to 4% and to remain modest in 2023 at 2.3%.”
    
    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.
14. voda 6 mei 2022 08:26

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    Tata Steel may Speed up CAPEX on Strong Cash Flow
    
    Strategic Research Institute
    Published on :
    06 May, 2022, 6:27 am
    
    Financial Express reported that Tata Steel CEO and managing director Mr TV Narendran told Financial Express’s Ms Shubhra Tandon in an interview that rising steel prices and firm demand may prompt Tata Steel to advance its stated capacity expansion target by a few years. He said that if the company advances the expansion plan, it could achieve its target of installed capacity of 40 million tonne in India, ahead of the targeted 2030 as compared to current installed capacity in India is at 20.6 million tonne.
    
    He said that though the company is not revising the timeline of 2030 as yet, it will keep reviewing it. Mr Narendran said “The company has guided INR 12,000-crore capital expenditure for the current financial year. However, it will review the same after six months, and if the need arises it could be revised upwards. If the markets are good, the cash flows are strong and the deleveraging is also happening as we had planned, we can always go back to the board and ask for more and spend more. If we can accelerate it, we certainly will.”
    
    He added “Unlike earlier when the group had just one site in Jamshedpur, the growth could happen only sequentially. Today, we have two sites in Kalinganagar and one in Angul, so we have the optionality that tomorrow if the demand in India really picks up and the profitability continues to be fantastic we can grow faster.”
    
    Tata Steel has outlined that the 40-million tonne plan entails taking the Kalinganagar site to about 16 million tonne from the current 8 million tonne expansion which is underway, expanding the Neelachal Ispat Nigam site to 10 million tonne from the current 1 million tonne capacity. NINL’s acquisition is expected to be complete by June. After acquiring Bhushan Steel, its capacity has been expanded from 3 million tonne to 5 million tonne per annum and can further go to 10 million tonne.
15. voda 6 mei 2022 08:27

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    Atlas Tube Opens World’s Largest ERW Mill in Blytheville Arkansas
    
    Strategic Research Institute
    Published on :
    06 May, 2022, 6:18 am
    
    Chicago Illinois US based Zekelman Industries’ division Atlas Tube has opened their newest steel mill in Blytheville in Arkansas in US, for which foundation work had begun in April 2021. Their second in Blytheville, the new facility set up with USD 150 million investments will be dedicated to producing Jumbo Hollow Structural Sections as large as 28 inch OD with walls up to 1 inch thick. Located next to one of Atlas Tube’s existing mills, this high-tech, 515,000-square-foot facility will be the largest continuous electric resistance welding mill in the world, rolling HSS from 8 inch to 22 inch square. Rounds will be available up to 28 inch OD, and rectangles up to 34 inch x 10 inch, with wall thicknesses up to 1 inch.
    
    The facility features cutting-edge engineering that will give it industry-leading capabilities, including new welding technology designed to handle the 1 inch thick sections. Quick change technology will give the mill the shortest cycle times in the industry, and the line will feed into a fully automated warehouse, cutting down delivery times and boosting efficiency.
    
    Previously, the largest HSS rolled in the US are 16 inch x 16 inch x 5/8 inch, and builders looking for bigger sizes need to have them shipped from overseas. That means long lead times and unpredictable delivery schedules, making large HSS sizes less appealing in domestic construction. With Atlas Tube’s new mill, all sizes will be available for order with 2 to 4-week lead times, the shortest in the industry, as well as from floor stock at service center partners across North America. The new larger sizes will be ideal for applications like bridges, warehouses, stadiums and highways signage, taking advantage of the unbeatable efficiency and strength-to-weight ratios HSS can offer. And with short, predictable lead times, builders and designers can count on the weight- and cost-savings HSS bring to construction without worrying about international shipping issues.
    
    Zekelman Industries includes the operating divisions of Atlas Tube, Picoma, Sharon Tube, Wheatland Tube, Western Tube and Z Modular. It is the largest independent manufacturer of hollow structural sections and steel pipe, and the top producer of electrical conduit and elbows, couplings and nipples in North America. Zekelman Industries delivers a broad range of pipe and tube solutions.
16. voda 6 mei 2022 08:28

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    AMNS India Reports 17% YoY Surge in Jan-Mar Quarter EBITDA
    
    Strategic Research Institute
    Published on :
    06 May, 2022, 6:30 am
    
    ArcelorMittal & Nippon Steel’s 60:40 JV ArcelorMittal Nippon Steel India has reported 16.6%YoY increase in EBITDA at USD 470 million in the January-March 2022 quarter supported by contribution from sale of pellets from newly commissioned pellet plant offset in part by a negative price cost impact. The YoY EBITDA was higher even as crude steel production decreased by 5.2% to 1.7 million tonne as compared to 1.8 million tonne in January-March 2021
    
    ArcelorMittal also announced that
    
    1. Plans to debottleneck existing operations of steel stop & rolling and achieve 8.8 million tonne per annum capacity by end of 2023 underway
    
    2. Ground-breaking for CRM2 complex, comprising of 2 million tonne per annum PLTCM, 0.5 million tonne per annum galvanizing line & 1 million tonne per annum Galvanizing and Annealing line, happened in March 2022
    
    3. AMNS India Hazira facility expansion to at least 14.4 million tonne per annum in advance preparation: advanced discussions with vendors to close, engineering and design work to start soon; awaiting final environmental clearance
    
    4. In March, ArcelorMittal had announced a strategic partnership with Greenko Group for a USD 600 million 975MW solar and wind power project. The project and land is owned and funded by ArcelorMittal & Greenko will design, construct and operate facilities in Andhra Pradesh and AM/NS India has a 25-year off-take agreement to purchase 250MW of renewable electricity annually. Over 20% of AMNS India’s Hazira plant electricity requirement will come from renewable sources ? reducing carbon emissions by 1.5Mt per year. Project commissioning is expected by mid-2024. ArcelorMittal is studying the option to develop a second phase which would double the installed capacity.
17. voda 6 mei 2022 08:29

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    Stene Stal Stocks XCarb Certified Steel Sections in Norway
    
    Strategic Research Institute
    Published on :
    06 May, 2022, 6:10 am
    
    ArcelorMittal announced that Norwegian steel distributor Stene Stal Produkter AS aims to be the first European distributor to only stock open steel sections that have been made with low emissions. Open sections include large beams and piles, which are mainly used in construction, down to smaller products including rails, rods and bars. Stene Stal’s extensive range will have a Global Warming Potential below 400kg CO2 a tonne, starting with IPE, HEA and HEB sections. Driven by their own strategy to provide a faster and more effective response to climate change, and motivated by growing political concerns in Norway, Stene Stal’s ambition is to convert their entire stock of sections within 2022, taking full advantage of ArcelorMittal’s XCarb recycled and renewably produced beams from the company’s Luxemburgish mills in Belval and Differdange, that meet these stringent CO2 requirements. With GWP values of 333kg CO2 per tonne of steel products, cradle to gate or A1-A3, the XCarb recycled and renewably produced sections clearly match the ambition of Stene Stal. This figure, achieved through efforts to use up to 100% scrap and electricity from solar and wind power sources, is being passed on to customer, giving them in turn a competitive advantage.
    
    The XCarb initiative, launched by ArcelorMittal in March 2021, brings together all of ArcelorMittal’s reduced, low, and zero-carbon products and steelmaking activities. To produce XCarb recycled and renewably produced steel, ArcelorMittal uses up to 100% scrap and renewable electricity coming from renewable sources such as solar and wind power. ArcelorMittal estimates that XCarb recycled and renewably produced steel has a carbon footprint as low as 0.3 tonnes of CO2 per tonne of steel product when the metallics are 100% scrap, which is certified by a published Environmental Product Declaration.
    
    The ArcelorMittal’s XCarb initiatives also include XCarb® green steel certificates which are specifically designed for ArcelorMittal’s steel products made from iron ore in a blast furnace. They are based on real CO2 savings as well as wider initiatives which reduce ArcelorMittal’s carbon footprint. We can add up these important CO2 savings and then pass them onto our customers in the form of a certificate, which has been verified by an independent auditor.
    
    Stene Stål is predominantly dedicated to steel constructors, which is reflected in their wide product range and length assortment. They are certified in accordance to the EN 1090 norm that regulates the fabrication and assembly of steel structures for the construction market. In addition, they have facilities for automatic priming up to 23m lengths. Linked with XCarb values, they are now able to offer specific project EPDs including A4, for each beam delivered to site.
18. voda 6 mei 2022 08:30

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    Russula Computer Vision Sensors step up CELSA Steel UK Automation
    
    Strategic Research Institute
    Published on :
    06 May, 2022, 6:06 am
    
    The CELSA UK & Russula teams have commissioned three Computer Vision Sensors for the rebar & wire rod mill in Cardiff in UK. The Computer Vision Sensors solutions automated areas of the mill that had previously required manual intervention or were difficult to automate. By establishing Computer Vision Sensors in key positions, the mill is able to automate the control of the lateral position of the peel bar, furnace billet discharge, and two-strand looper. After implementing computer vision, tasks previously operator driven, are now fully controlled by the PLC, even using the same video stream that operators used to look at from the pulpit. Almost every task in the mill controlled by the human eye is now liable to be automated by a Computer Vision Sensors.
    
    Double strand loop control and pusher discharge from the furnace are common matters in many mills. When discussing how to address them with CELSA UK, w Russula decided to use computer vision to automate these two tasks. Previously, furnace operators discharged billets from the furnace in the same way video games used to be played, look at a screen and move a joystick. As entertaining as this method might have been, it required extensive manual intervention. By employing computer vision solutions, the position of the billets inside the furnace was determined, which allowed the PLCs to properly position the peel bar and automatically command the furnace pusher to discharge billets, thus avoiding continuous intervention by the furnace operator.
    
    Likewise, an existing scanner for the two-strand loopers was not functioning correctly. A Computer Vision Sensors was installed to measure the loop height. Computer Vision Sensors algorithms analyze the video feed to determine the height of the loop of each strand, which can be used to control the speed of the line. The loop control module in the existing PLC was modified to use the new input from the Computer Vision Sensors.
    
    Russula supplied the Computer Vision Sensors, electrical, software and HMI integration and onsite services including installation supervision, commissioning, and production support. The existing furnace camera was connected to the CV-Sensor. New cameras were supplied and installed for the furnace discharge and looper applications. The three computer vision applications were implemented in October 2021. Three computer vision systems are installed in the furnace and wire rod repeater areas at CELSA Steel UK in Cardiff. After capturing images, several CV algorithms extract measurements from those images and send the results to the automation system via Ethernet.
    
    CELSA Steel UK plant is the largest reinforcing steel producer in the United Kingdom. The Cardiff facility consists of a meltshop and two rolling mills: one for reinforcing steel and wire rod and the other for merchant bars and light sections. Annual production is 1.2 million tonne per year delivered to the UK and Ireland markets.
19. voda 6 mei 2022 08:34

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    Vítkovice Steel Plate Deliveries Hit on Slab Supply Disruptions
    
    Strategic Research Institute
    Published on :
    06 May, 2022, 6:02 am
    
    S&P Global Commodity Insights reported that the Czech Republic's heavy plate re-roller Vítkovice Steel has notified its customers that it will pause deliveries due to impacts from the EU's sanctions against Russia, which have resulted in slab supply disruptions and as a result the quarto mill will be presumably halted for 10-12 business days & consequently, shipments of the plate will also be delayed.
    
    Vítkovice Steel informed “The round of sanctions against Russia included measures against JSC GTLK, the owner of the carrier vessels Astrol-2 and V Smyslov. The vessels carried 15,400 tonnes of slab that were supposed to be unloaded in Gdansk and Szczecin ports in Poland last weekend. The restrictions came into effect immediately, without any grace period. The vessels' captains had no other option but to turn back to their loading port, where they will be ported again and the goods will [be] re-loaded onto another, safe vessels. Even if we are doing our best to find alternative vessels with safe ownership, which is a challenge by itself due to the dynamically changing circumstances, this incident will lead to short-term raw material shortage at our plant.”
    
    Czech Republic’s Ministry of Finance’s Financial Analytical Office FAU has frozen the assets of Ostrava-based Vítkovice Steel, which is owned by supranational investment funds belonging to the countries of the former Soviet Union tracing back to Russia’s development bank VEB due to European Union sanctions against persons and entities from the Russian Federation and Belarus in response to the country’s invasion of Ukraine. The company can continue to operate, run its business, pay employees and meet its business obligations to its partners, but it must not be sold or its shares transferred to another owner. Local media had reported in Mach 2022 that Vítkovice Steel shareholder control can be traced back to Russia’s development bank VEB. However, this was denied by the company’s spokesperson, who said that the owners of Vítkovice Steel are businessmen from the states of the former USSR and not Russia.
    
    Ostrava based Vítkovice Steel is a traditional European producer of rolled steel products. The company is the largest producer of steel sheets in the Czech Republic and the only producer of heavy plates & sheet piles/ The tradition of Vítkovice dates back to 1828, when Rudolf's smelter was founded, in which the first wrought iron was produced two years later. The metallurgical and engineering company Vítkovice ended its own production of pig iron in 1998 after 162 years. The last of the three blast furnaces went out on September 30, 1998.
    
    Vítkovice Steel is owned by multinational investment funds from the countries of the former Soviet Union. After the Russian annexation of Crimea in 2014, the company deleted the name of its current Russian owner Evraz from its name. The current Chief Financial Officer and member of the Board of Directors, Mr Radek Strouhal, became the CEO and Chairman of the Board of Directors on 1 January this year. He replaced Mr Dmitri Shchuk who worked in the company for more than
20. voda 6 mei 2022 08:35

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    ArcelorMittal Announces Second USD1 Billion Share Buyback Program
    
    Strategic Research Institute
    Published on :
    06 May, 2022, 5:59 am
    
    Global steel giant ArcelorMittal has announced a second share buyback program in the amount of USD 1 billion under the authorization given by the annual general meeting of shareholders of 4 May 2022, bringing the total 2022 buybacks announced so far to USD 2 billion. The Program is expected to be completed by the end of 2022, subject to market conditions.
    
    The shares acquired under the Program are intended:
    
    1) To meet ArcelorMittal’s obligations under debt obligations exchangeable into equity securities
    
    2) To reduce ArcelorMittal’s share capital
    
    3) To meet ArcelorMittal’s obligations arising from employee share programs.
    
    ArcelorMittal has informed that Significant Shareholder has decided not to participate in the Program consistent with the position announced in February 2022. ArcelorMittal had said “ArcelorMittal has noted the declared intention of its Significant Shareholder to sell shares to it in proportion to shares purchased on the market to maintain its percentage shareholding. ArcelorMittal has since been informed by the Significant Shareholder that it has decided not to make such sales; accordingly its percentage holding of issued and outstanding shares (which stood at 36.3% as of January 31, 2022) will increase as the share buyback program is implemented.”